This was the 4th biggest point drop in history. 4 of the 5 biggest drops have taken place in the last 3 months. The other was the drop right after 9/11.
Oh.. and the 5 biggest drops have all happened under George Bush.
more to come, imo. could be a tough week. 'obama rally' seems over..
Older_Wiser
· 12 months ago
Yes, we've been screwed--hard, deep and long.
Thanks for nothing, greedheads.
nogo postal
· 12 months ago
The good news is that we didn't crash into the mountain..the bad news? We went over the cliff.. My song of the day... tap yer toes... http://www.youtube.com/watch?v=g266Uwp6ZnI
Forty2
· 12 months ago
So last week was what a dead-cat bounce looks like, I guess.
paulbot5
· 12 months ago
Krugmans solution is more of the same, hes an idiot
Jason
· 12 months ago
No kidding.
This is the beginning, people. This is not a financial crisis...this is THE economic collapse.
Get ready. Buy bullets and food/water and GOLD. Forget stocks/ US dollars. Don't wait any longer. You've had a year now to prepare...get ready. There is no longer any excuse.
lucky hussein
· 12 months ago
Do you have a bunker ready? l like bunkers ;)
Ben Dover
· 12 months ago
Been working on mine since January 20, 2001.
lucky hussein
· 12 months ago
congrats, what do you have? guns, canned goods, psp games? ;)
Ben Dover
· 12 months ago
And now, there will be 20,000 American soldiers ready to deploy anywhere in our United States for "domestic security."
And they aren't being prepared to deliver flowers and chocolates either.
lucky hussein
· 12 months ago
"'Cause it don't look like they're here to deliver the mail" 'powderfinger', neil young..
Forty2
· 12 months ago
If you need gold, you'll need lead more. gold is a huge rip-off. the only people making money with it are the dealers. and in a deflationary economy like the one we're already in, gold will lose value.
this mad-max shit is a bit over the top.
Jay
· 12 months ago
Let's all pray for the apocalypse.
melissap
· 12 months ago
check this out http://www.financialsense.com/editorials/engdah... See this mess as an opportunity to reset everything. After an implosion we can rebuild, but if we keep taping things together, we will never move on.
bluestockton
· 12 months ago
Can't wait to see the Rethugs remember that they're the party of the balanced budget when Obama is finally president and able to push for a stimulus bill. But the silver lining of the stimulus is that all those workers hired for infrastructure projects will be paying taxes on their earnings. So the money that the government lays out will come back into the treasury as tax revenue.
Jay
· 12 months ago
"The fundamentals of the economy are strong" - Senator John McCain (R-Loserville)
Ben Dover
· 12 months ago
And if that's not enough, good ol' JEB is making noise about how the GOP should form a "shadow government." Ollie North probably popped a woodie just hearing that.
It's taken 15+ years of so-called "Free Trade" to wipe out America's industrial base, and along with it tens of millions of living wage jobs. A critical mass of middle class jobs are now gone and the economy can't sustain itself without them. Obviously, not enough people make enough to be able to buy things anymore.
This isn't going to change in a year or two or ten years. Without a strong middle class, the economy of this country is crap.
This is the tip of the iceberg of what's coming, and nothing is going to turn it around other than bringing industry, and good paying middle class jobs back. Nobody's talking about doing that.
All this talk about short term problems and solutions is total bullshit, and ignores the reality of why we're in this mess. And it ain't just 8 years of G.W. Bush. This started with Clinton and NAFTA. The dems are as quilty as the Repubs for this mess.
It's the lack of living wage jobs, stupid!
Asterix
· 12 months ago
Looks like Detroit's toast even with a $25B bailout. When people don't have the money, they don't buy cars. And no one's making credit easy.
Older_Wiser
· 12 months ago
Bush and his team of "expert" economists, Wall St., and most of Congress have seen this coming for some time, but because most of them are already well-fixed, they chose to ignore it, just as the corporate MSM did.
This could likely last for 10 years or more, depending on what happens in the rest of the world. And in too many countries, dictators will establish the ground rules for fighting a worldwide depression in their own countries. At some point, starving people will vote for anyone who promises economic pie in the sky. We should learn from history. Fiat money is worthless--the only real value of money comes from labor. Put people to work, first and foremost.
melissap
· 12 months ago
It's too late to buy gold. It's gone. Unless you can find some on E-bay. Note the E-bay price is much higher than what gold trades for in the market. I know people who have tired to buy from brokers and are still waiting months later - plus the physical gold brokerages refuse to give the $$ back. (it's in the fine print.) They just keep saying they are waiting for delivery.
teresaInPa
· 12 months ago
equity based annuities that will protect people from the loses but give them the gains of the stock market when it comes back are going to be a good way for people to survive this mess. Too bad most people still think their stock brokers are giving them good advice. Here is a hint to the wise.....it's not paper folks, the loses are real. Get out and stop gambling/playing the market while you can.
Indigo
· 12 months ago
Late in the past century there was a theorist named Dent who maintained that once the bubble broke, recovery would not restore full prosperity before 2017. I don't remember why he had that magic number but there it is. Maybe this is the end of the psychological 20th century at last; it's been lingering a bit too long. New paradigm, please.
scottinsf
· 12 months ago
I see Donald Trump's company has missed a loan payment to one of their big lenders. I smell bankruptcy for him.......again.
I can hear it now: "Bu..but I'm too big to fail".
KerrynowCampau
· 12 months ago
How completely expected.....
teresaInPa
· 12 months ago
rather than a stimulus plan, the government should just bail out the american people. Give all of us 250k (instead of money to corporations) and see what happens. The economy will come roaring back. In addition start putting tariffs on companies who moved all the manufacturing jobs over seas and give us single payer. This 'let's give everyone a few hundred dollars" crap is NOT going to cut it.
Andrew
· 12 months ago
you have to just love the spin from both the government as well as their lackies the MSM. Just a few short months ago in August both Paulson and Bernanke told Congress that all was under control. Fast forward three months and the economy is now crashing just as they knew it would but didn't have the balls to tell the American people. Like it was supposed to be a surprise that we've been in a recession since way back in December of 2007 and their only just geeting around to telling us what we already knew.anking and government are a joke and the depression is on the way. Just wait till next spring when oil pricese will again climb and a whole lot of summers vacations will get cancelled again and next Christmas rather than shopping for gifts, people will be looking for affordable food for survival. To add insult to injury, today Bernanke said the Fed will buy Treasuries if they have to. Really?!?!? Where in the world is all this make believe money going to come from?
Queen
· 12 months ago
I think Obama should think about keeping Bush AND Cheney on board. Just like Gates.
They can be the barrel meisters. Everyday it will be their turn in the barrel, just like the rest of America.
Bubbles
· 12 months ago
Mr. Great Depression, meet your offspring, Mr. Great Recession.
And it took them a year to figure this out.
Oh and that makes Bush the two recession president.
All Comments
Oh.. and the 5 biggest drops have all happened under George Bush.
http://en.wikipedia.org/wiki/List_of_largest_da...
It could be one of the largest % drops in a year however, anybody got that stat?
http://www.sltrib.com/tourism/ci_10980857
Boycott Utah The H8 State.
Thanks for nothing, greedheads.
My song of the day...
tap yer toes...
http://www.youtube.com/watch?v=g266Uwp6ZnI
This is the beginning, people. This is not a financial crisis...this is THE economic collapse.
Get ready. Buy bullets and food/water and GOLD. Forget stocks/ US dollars. Don't wait any longer. You've had a year now to prepare...get ready. There is no longer any excuse.
http://rawstory.com/news/2008/Pentagon_plans_to...
And they aren't being prepared to deliver flowers and chocolates either.
'powderfinger', neil young..
this mad-max shit is a bit over the top.
http://www.financialsense.com/editorials/engdah...
See this mess as an opportunity to reset everything. After an implosion we can rebuild, but if we keep taping things together, we will never move on.
Ollie North probably popped a woodie just hearing that.
http://rawstory.com/news/2008/Jeb_Bush_GOP_shou...
This isn't going to change in a year or two or ten years. Without a strong middle class, the economy of this country is crap.
This is the tip of the iceberg of what's coming, and nothing is going to turn it around other than bringing industry, and good paying middle class jobs back. Nobody's talking about doing that.
All this talk about short term problems and solutions is total bullshit, and ignores the reality of why we're in this mess. And it ain't just 8 years of G.W. Bush. This started with Clinton and NAFTA. The dems are as quilty as the Repubs for this mess.
It's the lack of living wage jobs, stupid!
This could likely last for 10 years or more, depending on what happens in the rest of the world. And in too many countries, dictators will establish the ground rules for fighting a worldwide depression in their own countries. At some point, starving people will vote for anyone who promises economic pie in the sky. We should learn from history. Fiat money is worthless--the only real value of money comes from labor. Put people to work, first and foremost.
Too bad most people still think their stock brokers are giving them good advice.
Here is a hint to the wise.....it's not paper folks, the loses are real. Get out and stop gambling/playing the market while you can.
I can hear it now: "Bu..but I'm too big to fail".
This 'let's give everyone a few hundred dollars" crap is NOT going to cut it.
To add insult to injury, today Bernanke said the Fed will buy Treasuries if they have to. Really?!?!? Where in the world is all this make believe money going to come from?
They can be the barrel meisters. Everyday it will be their turn in the barrel, just like the rest of America.
And it took them a year to figure this out.
Oh and that makes Bush the two recession president.