The world saw the dark day in which the Dow dropped 777 points in a one day nose dive at the beginning of the Jewish Holiday celebrating the New Year known as Rosh Hashanah. Putting this in perspective many analysts have been trying to calm the fears as major governments joined in the move to save the world economic system by buying up bad debt. Governments around the globe are putting together their own rescue packages as did our own Government after this historic drop of the Dow and the major US Wall street banks going under. As the American government nationalized the banks and put its own citizens in further debt, the nationalization of banks world wide have begun. The World officials and banking experts have been doing this in an attempt to save the world economy as fear spreads like a fire. Fox business news quoted Frank Davis, the director of sales and trading at LEK Securities who said “We”ve got fear selling going on. It’’s hard to control logical when you have fear selling.”
Articles tagged with: fears
Written By: The Watchman on May 14, 2008
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