Google plunged 8% yesterday on a dramatic earnings miss. Ad revenue was lackluster while expenses shot higher.Yesterday Microsoft reported dramatically slowing sales of its PC software mainly the result of the migration to tablet and smart phones.Today McDonald's sold off 5% on slowing sales because of individuals tight budgets. Also today preexisting home sales took an unexpected dip due lack of job growth. At the moment the Dow Jones Industrials are off by 135 points.
But not to worry. Federal Reserve Chairman repeated himself, " I will print money till Google gets more clicks, till McDonalds sells more burgers, till the return to the PC happens and until people buy houses again.."
Isn't it amazing what the power to create money does to a persons common sense? If he ever had common sense?
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