Dow Jones Jump – Fool Me Once, Shame on You; Fool Me Twice, Shame on Me

Yesterday’s surprising spring-like high for the New York Stock Market the Dow Jones Industrial Average had all the usual suspects talking about how we’re coming out of this recession.

It was a record high, climbing 158 points, reaching 14,286, which broke it’s previous record high set in October 2007. The Dow Jones fell back slightly and by day’s end was 14,253.

Here in Canada’s banking capital, Toronto’s S&P/TSX rose 28.63 points, but was still well below its record high set in June of 2008. The S&P 500 and Nasdaq exchanges also showed increases, but the focus was on the Dow Jones, because it broke the record books.

Bankers, economists, and other important-looking people dressed in expensive three-piece suits appeared on all the newscasts, talking about how this was just the kind of fiscal movement we all need to get us out of this seemingly never-ending global financial mess.

Hey, wait a sec – don’t the stock markets suddenly increase just before most of the major economic catastrophes of all time?

It’s like a financial tsunami of sorts, as the trade winds ruffle amidst uncertain economies globally. Traders buy up stocks, hoping their actions will trigger an up-swing and it does. Until those everyone catches on, and cashes out, selling stocks like hot potatoes, crashing an already volatile market.

That’s what happened just before the Great Depression in October of 1929. That’s also what happened just as the housing market in the States went belly up, which brought us into our current economic sandstorm.

And as people across North America continue to struggle to pay their bills, it’s happening again.

More people have given up looking for work than ever in recorded history – even since the Great Depression of the Dirty Thirties.

There are fewer full-time permanent jobs, as companies continue to outsource, and contract out their workforces to temporary, contract workers.

The cost of goods and services continues to rise, yet wages continue to fall.

And despite all of this doom and gloom, the newscasts yesterday painted a rosy picture of an economy on the up and up.

Once fooled, twice shy.

We all should be twice shy – maybe more with all the bullsh*t being broadcast by bankers, economists and their ilk.

We are far from the end of this global depression – and their artificial hype will just make it worse.

Economists traditionally try to calm everyone down during economic crisis. That’s not only their nature, it’s in their best interests – because panic causes rash decisions – like selling stocks and upping interest rates – which crash economies.

But outright lying to keep the peace when people are losing their jobs, their homes and ultimately their lives is unacceptable.

Fool me once, shame on me. Fool me twice, shame on me.

Don’t be fooled by the banking buffoons.

Why Everyone is on Facebook’s Back?

Not long ago Facebook was the golden child of the Internet. Not as old as Yahoo, or Google, but had just as much of a following and fan base.

Everyone had a Facebook account. Everyone was hooked on checking their Facebook regularly. And everyone was into bitching about Facebook’s constantly changing privacy features.

We still complain about Facebook, but now it’s the largest social network itself which we just can’t seem to stand, instead of its constantly changing privacy settings.

For over a week, trending topics about the death of Facebook have been popping up on the social networks.

Why?

Could it be all the hype surrounding the spunky rarely wearing a suite Mark Zuckerberg, founder and head geek at Facebook?

Just prior to all the negativity online, the world was glued to news of Facebook going public. The mainstream media, the blogosphere, and all the social networks were buzzing with rumors about the date, the price and how much those that bought into Facebook in its early days would make.

On that day, when Facebook went public, everyone was so focused on the massive amount of money flowing into the pockets of those with Facebook stock, people forgot to invest, and within hours of it’s launch, the stock had nose-dived well below expectations.

The same week Facebook went public, Zuckerberg marries his long-time girlfriend at a surprise wedding ceremony with a handful of select invitees.

Very romantic, and a poetic conclusion to one life ending and another beginning for the couple, as they enter marriage and adulthood.

But maybe, the world just had enough Facebook? Too much of a good thing and all that?

Maybe all the hype around the stock offering, around the wealth, around the life and times of the social network’s boss – we just couldn’t stand it anymore!!!!

So today, the world’s largest social network is taking a beating in both stock and word-of-mouth. It’ll be interesting to see which has the greater effect -- the ups and downs of dollars, or the rants on the social networks – because it was those initial rants and raves which made Facebook the giant which it is today.

This could be the true test of social media influence and an even bigger test for the public relations team which has to figure themselves out of this mess. Although the all mighty dollar rules the world, it’s word of mouth which rules the social networks.