Video Market Update for Jan 13th and Thought for the Day!

Hello Friends, I hope you are enjoying the near year so far. It sure has been interesting to be a student of the economy and market right now. Everything we have known to be true in the past is being questioned and living in a global economy changes things considerably unlike the past. Today is a prime example. 4th quarter earnings are being reported and aluminum giant, Alcoa reported a $1 Billion loss in the 4th quarter and had to cut nearly 13% of its global workforce. Bloomberg News reported today that it is now estimated $350 Billion was lost in Hedge Funds in 2008! Probably what is the most interesting of all of this, the DOW is only down 58! These type of reports had they hit the wires unexpectedly two years ago, it would have been on all the news stations, the DOW would be dropping 1000 points and so on. Now it's like the traders are saying, "what’s new, tell us something we don't know." On the flip side, bad economic news typically makes mortgage backed securities improve because of the flight to safety on bonds, but they aren't even reacting anymore either. So interesting times to say the least. I have shared some other information about the dynamic with mortgage rates and still the room for improvement as well as some other information on the video and my "thought for the day" from John Maxwell. Be Blessed!