10/6-10/13 #3

The story that I read about was the stock market opening today and going up over 11%. The main reason behind this was that a number of international leaders met over the weekend to discuss the economic crisis affecting us. Also a number of global initiatives were announced to try and bring the stock market back to within normal levels. The only non-encouraging news was that the credit markets didn’t react to the stock market going up. Also GM and Ford stock went up today after a free fall ever since the market started its downfall. After the market worst week ever the beginning of this week will have some people stepping away from the balcony. I think that this is a sign of things to come in the economy. I would hope that this is the first step in the right direction and that the market keeps going up for the rest of the week so that it can restore some confidence in consumers. I think that it was long overdue that the global leaders met together and got something done since our faltering economy has brought down those of other nations. I also think that when the market starts to rise and is done with all its drops that oil prices will once again rise but will not be anywhere near as inflated as before. The author of this article was happy this event occurred because the last couple of weeks have been so depressing. She also doesn’t talk about anything negative happening because of this and the fact that the bailout hasn’t even had its positive affect on the economy yet. One question I would like to explore is what the rebounding economy means to the presidential race. I’m sure one candidate’s policies are more aimed towards fixing the economy and if the economy is rebounding before he comes into office then what use are his policies?

http://money.cnn.com/2008/10/13/markets/markets_newyork/index.htm?postversion=2008101315