99 Years of Wisdom

My 99-year-old grandma who to put it in perspective was born about the same time as the Model T and is still doing quite well for her advanced age often laments about the economy, jobs etc. even when the market is up. Well, I think there is finally something to her worrying.

Bloomberg reported this bit of news.

U.S. stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market writedowns and a slowing economy threatened to extend a year long profit slump.

My grandmother knows sacrifice and putting others ahead of yourself and when she speaks about the depression it gives you the impression that things were bad--really bad. It is hard to fathom that this is the worst June since the depression. That does not give me a warm feeling for the rest as year--especially since we're in an election year. I don't see the market turning up until the end of Q1 2009 at best.

Maybe I should have listened to her and learned a trade such as plumbing to fall back on--you always need a plumber...