Saturday, August 13, 2011

A "Media" Break - The Week on Wall Street

Like most American Persons, I have been watching Wall Street's wild week through the media. I have seen my 401K become a 0.401K then a 4.01K and finally return to a sort of 401K. Actually, the market is down only slightly at the end of the week. This makes me wonder if it isn't best to take breaks from the media "hype" about everything.

I need to remember that the media is driven by RATINGS, not my need for accurate, unbiased information. After all, news organizations are owned by the same PROFIT DRIVEN enterprises which show me Kardasians rather than people doing good in Sudan and brides buying wedding dresses or mother obsessing over their baby beauty contestants rather than information about world events. It is no wonder that news organizations will show me the one teen rioting in Philadelphia rather than the 100's doing good in their neighborhoods. Like any profit driven organization, we need to remember that their motive is to maximize their profits. Insurance companies, hospitals, all of them are only driven by anything which benefits the American Person if they can make a profit at it. Look at your jobs -- or rather look at the job you had which they sent to some foreign country because that country's person is willing to work for pennies rather than dollars per day.

OK, I'm starting to ramble, but you get the idea. We went through this week obsessing about our retirement funds only to see that things worked out OK at the end of the week. Maybe I should have taken the middle of the week off and just looked for the news summary at the end of the week

Volume was much lighter than on any other day of the week and intraday swings were far less violent than in previous days. Both signs suggested a drop in investor anxiety.
Still, the market was down for the week and posted its worst three-week decline since March 2009 when it hit 12-year lows.
 Take a break, don't pay all that much attention to the media for a day or two and save lots of anxiety and consternation. Take a media break.