Recently, the stock market has been very unstable. After a period of extremely good
business and market highs, it seems we are experiencing just the opposite. The market has
become increasingly unsure and risky, even with well known companies.
I believe the shift in the stock market is based partly with the oil crisis caused by
OPEC and partly with constant bad reports presented by companies. Maybe if assessment
firms gave good reports more often than bad ones, the market would go up. The market is
such a roller coaster now that it is virtually impossible to predict even the most
trustworthy stocks like Wal-Mart or Yahoo!.
For instance, the technology company Sony, which just released a new video game
system, has dropped like a rock on the market. In three days, their stock dropped over six
points. Considering they have a brand new, highly recommended gaming system, shouldn’t
their stock be going up? They claim to have under-shipped, but what kind of excuse is
that? The public knows that a large and powerful company like Sony has the resources to
ship however many products are needed.
Most importantly, though, is the Mideast Oil Crisis. OPEC is screwing up our
nations economy on purpose! Yet, we let them do whatever they want with their oil. We
should be tapping our own resources, to help ourselves and our market. Without power,
how can the stock market, or even the entire economy, function properly at all? All the
extra revenue from gas prices either goes to the government or to Mideast countries.
Private companies do not benefit and therefore our economy drops.
In closing, I believe our national market should always be on the rise. This would
show that we, indeed, have a well-functioning society. However, we continually stand by
and allow domestic and foreign governments to control our economy.
“Nasdaq’s loss third biggest” Beaumont Enterprise
27 Sept. 2000
“Nasdaq reaches record low”Beaumont Enterprise
29 Sept. 2000