Pocketbook Patriotism
from the spend-spend-spend dept
I’ve gotten nearly 20 copies of emails suggesting this, but this is the first time I’ve seen it in a “major” news publication that focuses on the market. It’s a suggestion that on Monday people buy stocks or other consumer goods to show their patriotism. While most people expect the market to fall, a little “pocketbook patriotism” may try to lift the market. I wonder if anyone will actually follow that advice. Update: As expected, not many investors followed this advice and the stock market is dropping quickly. Of course, the good thing is that most people aren’t too concerned – and see this as a natural reaction.
