The DOW plummeted 635 points, or 5.55% today. The NASDAQ lost 6.9% and the S & P lost 6.67%. The DOW closed at 10,810, the NASDAQ 2,358 and S & P, 1,119.I paid very close attention over the last couple of months to what the Republicans - led around by their noses by the simple-minded teabaggers - would do when it came to increasing the debt ceiling. I knew the America-hating rightwing didn't care what damage they'd do to our economy as long as it hurt Obama's chances of being re-elected.
I knew that. I told everybody I know that, too. A few listened...a few didn't. Those who didn't wished they had.
On July 7, 2011 - one month ago yesterday - I moved every penny I have into the 'money market'. The DOW closed that day at 12,719. The NASDAQ closed on 7/7 at 2,873 and the S & P at 1,353. That's a 15% drop in the DOW, 18% in the NASDAQ and 17.3% in the S & P. I'm not going to disclose how much money I prevented myself from losing, but I will tell you that it is equivalent to about 8-9 months of my annual salary.
I was wise enough, or maybe just lucky enough, to realize that Republicans and their teabagging accomplices would do anything to hurt Obama. If you didn't know that, then maybe you better start paying attention. I'm glad I did. It sure pays to do so.
