U.S. Stock Market Plummets 1000 Points

May 6. 2010

Vice President Joe Biden (left) and President Barack Obama (center)

The U.S. stock market wildly fluctuated today, even plummeting 1,000 points at one point, on the news of economic turmoil coming out of Greece and the massive oil spill on the east coast of America. 

America is steeped in a terrible financial depression, where historic records have been set in the number of foreclosures and  company collapses. Certain U.S. states have also recorded a record number of job losses. Yet, during this financial turmoil, the U.S. stock market kept soaring, with seemingly nothing to back it up.

Greece Riots

The U.S. Financial crisis of 2008, which began in Corporate America, has negatively impacted America and the world, in an ongoing and devastating depression that has not yielded. The fallout from which, can been seen today, in riots currently transpiring in Greece. Other nations such as Britain and Iceland have suffered massive job and economic losses. 

An international effort is needed to create failsafes for the global economy, lest the same crisis reboots itself in America, but at worst levels and spreads all over the world again (as predicted last week).

Greece Riots

Wall Street is in dire need of regulation. There is still a massive amount of financial fraud in Corporate America. The SEC, FBI and DOJ, have done a terrible job in stemming the problem, costing millions in America and the world, all they have worked for in their lives. 

This simply is not moral, just or decent. It poses a severe danger to the economic survival and development of the world and something needs to be done. There is no such thing as easy money. It always comes at a price. There is no substitute for hard work and honesty.