A Bad Day on Wall Street

The Dow plunged today 360 points, with after hours trading poised to drop another 400 points by morning. This horrific news arrived on the heels of a battery of dismal events. General Motors posted a write down loss of 39 Billion, Morgan Stanley took a 3.7 Billion Dollar loss., Merrill Lynch took a 10 Billion Dollar Hit, Oil continues its climb to $100.00 a barrel.

There is some good news and that is a small minority of companies did post some modest gains and U.S. productivity is up, meaning Americans are working harder just to survive.

But the all encompassing bad news is that the Federal Reserve is failing in doing its job in maintaining the value of the Dollar. Actually they are doing a better job of sinking it than they are raising it back to a safe level. America still has not done its job in regulating our regulators. America needs some better days, because our land and businesses have gotten so cheap on the world markets that foreign companies are ravaging our despair like vultures picking at a dying carcass.

For all the locals here in Milford who think this does not affect you, think again. Southern CT Gas, and Energy East company has just been sold to Spain, meaning your home is now heated by a foreign company. There is a "Global Fire Sale" going on in America due to our failing Dollar on world markets. With the rate America is being sold off, the only jobs left may be foreign companies in the United States. We may be entering an era where Un-American Globalist companies rule in Washington.