'S&P ERASES GAINS FOR YEAR AS STOCKS PLUNGE 2% ON FED, GROWTH CONCERNS'

The above is a headline from a CNBC article below.

http://www.cnbc.com/2015/08/20/us-stocks-open-lower-as-oil-slide-growth-concerns-weigh.html

With China devaluing its'  currency, the Feds propping up our economy with low interest rates and  high unemployment (don't let this administration fool you with numbers that say it's not that bad),  I am not surprised that we are having a major correction in the market.

No doubt we live in a global economy and are affected by what happens elsewhere.  Plus, what goes up, must come down. The markets go in cycles and we've had one heck of a long ride with the Dow, etc. rising, rising, rising. It's been a bubble and now the bubble's in its infancy stage of bursting. There's more to come, though we'll see along the way, upward movement at times which might give false hope that things aren't as bad as portrayed.

However, tough as it might be, I think a MAJOR market correction will be a good thing over the long run. We need it. We have to face the reality of what's been happening so we can take care of business.

No doubt Obama will encourage the powers that be to continue to prop up the sagging economy and thus the markets. He won't want to leave office with a black mark against him that'll reflect in a negative way his legacy.  So we'll continue having corrections since the market is a free one... but the final fall may not come till the next president takes office.

I just hope whomever we elect, most likely one of the very capable GOP candidates,  will make the hard choices that need to be made in order to fix our economy regardless of unpopularity. That'll take a very special person, one who communicates well and is inspiring. And no doubt someone we can trust to do what's right. Who that'll be, I haven't a clue.

Meanwhile, we'll continue to struggle with a worsening economy, troubles on the border and the Middle East and an anger and frustration with our current government. It'll feel like we're in a holding pattern of sorts till the next president of the United States is elected.