Dow dips below 10,000
Attention grabbing headline, but not relevant anymore as the Dow has since risen back above the psychologically significant 10,000 mark. Where the Dow is headed is still a mystery, but I know from my recent trip to the US, the second wave of this recession seems to be coming around. Quite a while ago a former colleague of mine talked about how the commercial real estate market would follow the home prices down, but it was a matter of when. Well seeing the large amount of empty store space in one of the most vibrant cities (Austin) in one of the most well-off states (Texas), I could just imagine how the rest of the country is doing. Is this recent dip in the Dow an indication that the commercial real estate problems are now going to cause problems? If so, I wouldn’t want to be in Obama’s shoes right now—I think he’s exhausted his nation’s appetite for stimulus funds.
