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The 7,000 mark
March 12, 2009 - Steve Murch
As of early Thursday afternoon the Dow had finally crossed back over the 7,000 mark after what seemed like an eternity (though it really wasn’t). While it’s a long way from the 14,000 of October 2007, it’s a step in the right direction.
Lately there has been a lot of talk about the psychological effects of the economy. Some talking heads were suggesting that people just forget about things like the stock market and some other factors and focus on the positives. Their theory was that we would be healthier mentally for not dwelling on it.
While I think some of it was hogwash — just thinking happy thoughts isn’t going to make things better — there is some validity to it, especially when it comes to dwelling on it. Some people have so much invested in the stock market that they can’t help but worry not only day by day, but hour by hour. But those of us who have less invested need to have less stress about it — at least for our mental health. Maybe if we worry more from week to week or month to month ...
Maybe crossing the 7,000 plateau will help with the psychology of the economy a little bit, even if much of the reality is grim. That is if it can stay over that mark.
Lots of maybes, but we have to start somewhere.
Now if we can get unemployment and home foreclosure figures lower to help even more.
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