WOW! Dow down 500+ points yesterday. A number we haven't seen since 9/11/01. First came Bean Stearns, now Lehman Bros. and AIG. Let's not forget about the Fannie and Freddie bailout. I didn't realize it was the Governments job to bail out troubled companies (we'll save that rant for another day!)
So where does this leave us? Are start-ups still going to be able to get the cash infusions they need to expand and continue growing? Are the rules for borrowing that money going to change?
With all this bad news, it's been said that we are in a "mental recession." The economy is growing at 3.3% (source,) unemployment is at a low 5.7% (source,) companies are hiring educated, qualified candidates as fast today as ever before. Fact of the matter is that we are NOT in a recession. We are simply being inundated with bad news after bad news in the housing/financial markets. Nobody is talking about how the solar industry is booming (First Solar, Inc. is up over 100% in the last year.) Fertilizer companies are also booming, just look at Potash (POT) up 100% in the last year. This is just to name a few industries and I think if we look hard enough we are going to continue to see these types of gains in many other industries as well. Why do we keep beating a dead horse? The housing/financial markets are in complete turmoil and things are only going to get worse before they get better. I GET IT!! Why don't we start talking about those industries that are doing well? Why don't the media outlets focus on some of the positive news coming out of the economy?
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