Is the recent dive in stock prices the long-awaited market correction, or is it just a dress rehearsal for an even bigger downturn in the future—say in October, when Wall Street traditionally gives it back by the bushel basket? The following verse considers this question. It’s written in the style of Alfred Noyes’ classic poem, "The Highwayman."
The Meltdown Blues
The U.S. dollar is shrinking, like a summer ice cream scoop,
Congress is again overspending, awash in that old debt soup,
The struggling Dow and Nasdaq, can’t seem to find a floor,
And investor fears keep rising, rising, rising,
Investor fears keep rising,
As confidence goes through the floor.
The days are past when investors viewed all losers as fallen gems,
And rushed to their rescue with money, like nurturing mother hens,
Now good companies, too, go begging, and cut spending to the bone,
To avoid deeper fiscal trouble,
Escape a deflated bubble,
Flee from surrounding rubble,
With consequences unknown.
Perhaps one market morning soon, to panicky echoes we’ll wake,
The equity holders will tremble, the bond investors quake,
And as global economies teeter, we’d best pray there appears,
A plausible confidence mender,
A deep pocket lender spender,
Who can calm all our white knuckle fears.
******* |