One recent thursday there were reports of rising unemployment claims, a sharp drop in housing sales, a nasty fall off in consumer confidence, and the Fed expressing concern about the so-called recovery. The stock market surged more than 200 points that day anyway on news that three large companies had better than expected quarterly earnings. The message here? Markets have a life that has now diverged almost completely from life on planet Main Street...
A Farewell Note To
The Stock Market
Dear Dow:
I care naught for you now
The bumps and grinding of thee
Have lost meaning for me.
Once your numbers were powered
When the job market flowered
And only went dour
When housing turned sour.
Main Street now grows poor?
You just shrug and ignore
Only sink, sag or soar
Based on quarterlies' score.
So I'll seek a new measure
For assets I treasure
The Street's hopes and fears?
The veers of its wares?
Who cares?
Who cares?
*****
©2010 Michael Silverstein
|
