Tuesday, February 27th had me a little worried about the state of economy. As an entrepreneur, the sunny days are what I live for. When money is moving, people are spending, and businesses are doing well, everyone is happy!
When the closing bell rang yesterday at the NYSE, there were probably more than a few people crying into their double machiattos. The drama began with a 9% slip in Chinese stocks, the Dow began to fall, and then the poo poo really started to hit the fan when the computer automated sell programs started to kick in. By the late afternoon, $632 billion was lost in US stocks touching every sector.
It was the worst day in the market since 9/11.
Today the Fed Chief issues some comforting words about our economy(check out the Must Read Media on MC) and seasoned investors seem unfazed calling the tumble, “all part of the market’s cycle”.
You know what the problem seems like to me? If you have multiple children or have ever babysat at least three kids at once, you’ve been in this situation that I think mirrors the stock market and consumer confidence almost perfectly.
Imagine having three kids in a car. You’re rolling down the highway, everything is going fine until Kid #1, overtired because he missed a nap, throws a sippy cup, splashing juice on formerly happy Kid#2.
Kid #2, annoyed because the orange Tampico got in his eye hence momentarily distracting him from his Nintendo DS marathon session, spits in Kid #3’s ear.
Kid #3, who was looking for a reason to act up, begins kicking the back of your seat. Hard.
And then you crash the car. Just kidding.
If mom, in her infinite authority, saw Kid#1 start getting fussy, turned back and in her serious-scary-mom-voice and said, “Don’t even think about it,” therefore cutting the chaos off at the pass, the whole catastrophe could have been avoided.
Someone needed to get up on a giant platform and tell all of the world’s traders, “Don’t even think of freaking out. Calm down,” before the panic selling started.
That’s why moms should be in charge of the stock market.
By Bunmi on 03/6/07 in Parentrepreneur, Columns, Money, Mommy's Company
tag this | permalink | trackback url
