AMERICAblog: Ten years on the Dow - a lost decade?
hawkseye
· 1 year ago
We're back where we started, only without the nice surplus Clinton left. Bush is leaving us a legacy of death, destruction and poverty. I feel a nice little war crimes trial coming on.
Jim Olson
· 1 year ago
We couldn't be that lucky. We need a Truth and Reconciliation commission on the past eight years.
jd_nyc
· 1 year ago
So what do we do now?
My investments are in the toilet right now. I don't know what to do. Do I just wait this out? How do I know that there even will be a stock market in ten years time??
What if stocks simply stop existing across the world? After all they only came into existence a hundred or a hundred and fifty years ago. Why should they keep existing indefinitely?
JohnInTexas
· 1 year ago
We exercise, eat healthy, and be good to ourselves and kind to those around us. We'll live longer that way, and if we have to work the rest of our lives, at least we'll not be wasting our time for nothing.
Webster
· 1 year ago
For those of you who have jobs, that might work.
JohnInTexas
· 1 year ago
Sorry, didn't mean to be insensitive.
hawkseye
· 1 year ago
As FDR said, "The only thing we have to fear is fear itself."
Times will be hard, but what we are going through now is nothing like the Great Depression when there was 20% unemployment. We will have a stock market, and your stocks will go back up---eventually, in my opinion.
I just watched a repeat of Charlie Rose with Paul Volkert and he was very reassuring. It's probably up on the Rose site for viewing in streaming video.
shrrrr
· 1 year ago
Watch what happens the last half hour of trading. We could see a 1000 point drop on this Friday afternoon.
houstonray
· 1 year ago
Don't you know that Bush was SO hoping to get out of office before this happened so he could 'claim' his hands weren't in it? I bet team Bush is scared shitless now. Well, probably not Bush himself, he's pretty clueless, but I bet those around him are wishing they had left 'to spend more time with their families' right about now...
John Stewart put it best: "this is the turd icing on this administration's shitcake"...
Webster
· 1 year ago
Dana Perino said Bush, after his statement this morning, "would proceed with his scheduled trip to Coral Gables, Fla., and Kiawah Island, S.C., for political fundraisers and a meeting with the Republican National Committee."
Tells you all you need to know about how concerned Dear Leader is.
lucky hussein
· 1 year ago
maybe condi is out shopping for shoes again... lol
Webster
· 1 year ago
And Paulson is busy outfitting his Bentley with a gold toilet.
lucky hussein
· 1 year ago
let's hope it won't become a lost 30 years...
JMOHR
· 1 year ago
Nothing should be done to bail out financial services or any other industry. This is the world and reality that the conservatives and Republicans wanted. Let them have it. Yes, many of us may be destroyed in the process. However, my feeling is that there will be a natural uprising of populists and liberals who can come in and clean up the debris. FDR did it after the Great Depression and created a society that became the engine of economic as well as social success for the rest of the free world. I am sick and tired of hearing of exceptionalism. Face it, when you have to say it, you do not have it. Let the country become a little more humble and a lot less self centered. Maybe we will regain the kind of cooperative spirit that really did make this country great.
This was an unnatural economic bubble pumped up with an unjust war. We knew it would collapse and made provisions for that collapse or did not.
What do we do now? We put our hands in the air and scream while the roller coaster continues its downward rush. Some stock will survive, others will not. Sell. Buy. Curse. Bless. Move to Belize. Jump from the tallest building on Wall Street. It makes no difference. The near future is rough and could get worse.
I blame the Republicans. I blame anyone who has voted for any Republican in the past ten years. I blame anyone who mealy mouths the situation by saying "you have to understand . . ." I blame the Bushista Gang and all its enablers.
The market fell 678 points yesterday. Are things getting better, or getting worse? The best minds of our generation are thinking about it, but — sorry, come back later, Error 404, path not found– they don’t have an answer to the tangled, worldwide web of the crisis that has metastasized beyond any one human being’s understanding.
How do we know? Well, if you heard a rumble in lower Manhattan today, it was the sound of a supercollider of power and finance: Blackstone Group chairman Stephen Schwarzman, BlackRock CEO Larry Fink, Goldman Sachs CEO Lloyd Blankfein, J.P. Morgan CEO Jamie Dimon, and Silver Lake Partners co-founded Glenn Hutchins were gathered in the luncheon room on the seventh floor of the New York Stock Exchange in a panel moderated by our managing editor, Robert Thomson.
sukabi1
· 1 year ago
wow.... made it through most of the "live-blog transcript"... the "brain trust" that is managing those institutions really DON"T want to take responsibility for anything, do they??? Most don't want regulation, they don't acknowledge their participation in any of the schemes that have caused this "crisis of confidence" in the markets / institutions -- and they clearly don't have a clue what to do next...
so when are they going to step aside and allow someone not connected to their institutions to come in and clean up the mess??? There are at least half a dozen folks outside their bubble that have put forth some ideas that don't involve simply throwing more money at the fire...
Wesinoregon
· 1 year ago
What is happening now is why when 401K started I was against it. I wasn't sure it would happen but it is. I am vested from my old retirement plan so it doesn't hurt as bad. I still think the OLD way was better than taking a chance.
coolcatdaddy
· 1 year ago
Wait! The stock market's where it was ten years ago?
Somehow I knew the past decade was a bad dream.
Will I wake up tomorrow with Bobby Ewing in my shower?
larz
· 1 year ago
It's just like that season of Dallas - we'll wake up one day in January and the last eight years will all have been a bad dream?
WHYN0T
· 1 year ago
I haven't bothered to look, but I'm sure there is a graph on the net that allows for the effect of inflation on the past ten years of the Dow. I'm sure such a graph would show that there have been no real gains in the past 10 years and that the dive this past week would put the Dow at the bottom of the doldrums.
EmGD
· 1 year ago
It feels like that politically, ethically, socially, and foreign policy wise, why not add in the economy too.
Chris you forgot to factor in the devaluation of the American Dollar Before Bush can into office $1.50 would get you a gallon of gas in America today you are lucky to find $3 a gallon gas. So take your number for the stock market and divide it in 2 after all the market is a number based on what it can buy. Stop Sugar Coating things for Bush! :)
Wild_Weasel
· 1 year ago
Many of us have lost more than ten years' of savings
gonzalez
· 1 year ago
With the republicans in power for most of the last decade, we have gone back decades in every issue - noy just the stock market. And just think, 42% of the voters support McCain/Palin. What does it tell you about our education system.
Bubbles
· 1 year ago
The numbers on the value of the Dow Jones industrial average are based upon the U.S. dollar.
The U.S. Dollar has lost between half and 2/3rds it value against the Euro.
The value of the U.S. stock market, in absolute terms, is roughly half what it was on January 20, 2001.
All Comments
Bush is leaving us a legacy of death, destruction and poverty.
I feel a nice little war crimes trial coming on.
My investments are in the toilet right now. I don't know what to do. Do I just wait this out? How do I know that there even will be a stock market in ten years time??
What if stocks simply stop existing across the world? After all they only came into existence a hundred or a hundred and fifty years ago. Why should they keep existing indefinitely?
Times will be hard, but what we are going through now is nothing like the Great Depression when there was 20% unemployment.
We will have a stock market, and your stocks will go back up---eventually, in my opinion.
I just watched a repeat of Charlie Rose with Paul Volkert and he was very reassuring. It's probably up on the Rose site for viewing in streaming video.
John Stewart put it best: "this is the turd icing on this administration's shitcake"...
Tells you all you need to know about how concerned Dear Leader is.
http://www.nytimes.com/2008/10/10/opinion/10kru...
What do we do now? We put our hands in the air and scream while the roller coaster continues its downward rush. Some stock will survive, others will not. Sell. Buy. Curse. Bless. Move to Belize. Jump from the tallest building on Wall Street. It makes no difference. The near future is rough and could get worse.
I blame the Republicans. I blame anyone who has voted for any Republican in the past ten years. I blame anyone who mealy mouths the situation by saying "you have to understand . . ." I blame the Bushista Gang and all its enablers.
http://blogs.wsj.com/deals/2008/10/10/jamie-dim...
October 10, 2008, 11:20 am
Stewards of Capital Gather at NYSE. What Happens Next? Who Knows?
Posted by Heidi N. Moore
The market fell 678 points yesterday. Are things getting better, or getting worse? The best minds of our generation are thinking about it, but — sorry, come back later, Error 404, path not found– they don’t have an answer to the tangled, worldwide web of the crisis that has metastasized beyond any one human being’s understanding.
How do we know? Well, if you heard a rumble in lower Manhattan today, it was the sound of a supercollider of power and finance: Blackstone Group chairman Stephen Schwarzman, BlackRock CEO Larry Fink, Goldman Sachs CEO Lloyd Blankfein, J.P. Morgan CEO Jamie Dimon, and Silver Lake Partners co-founded Glenn Hutchins were gathered in the luncheon room on the seventh floor of the New York Stock Exchange in a panel moderated by our managing editor, Robert Thomson.
so when are they going to step aside and allow someone not connected to their institutions to come in and clean up the mess??? There are at least half a dozen folks outside their bubble that have put forth some ideas that don't involve simply throwing more money at the fire...
Somehow I knew the past decade was a bad dream.
Will I wake up tomorrow with Bobby Ewing in my shower?
http://thesebastards.blogspot.com/
Stop Sugar Coating things for Bush! :)
The U.S. Dollar has lost between half and 2/3rds it value against the Euro.
The value of the U.S. stock market, in absolute terms, is roughly half what it was on January 20, 2001.