AMERICAblog: Yesterday, McCain strategist: "If we keep talking about the economic crisis, we're going to lose." Today, Dow dropped over 500 points.
boloboffin
· 1 year ago
That puts the close at the lowest point of the Dow yesterday (800 points down). So much for 9500 being a temporary floor. Let's hope 9000 will be a little stronger.
vkobaya
· 1 year ago
So much for 9500 being a temporary floor. Let's hope 9000 will be a little stronger.
So, what does the Dow being below 9500 mean? Does this mean that Bush flushed 10% of the economy down the toilet? Actually, wonder if there is a world securities exchange and how much of the world economy he has destroyed. don't think he was aiming as high as a world wide depression but he must be very, very proud of himself. Can't you just see that nasty smirk on his face as he laughs it up with his buddies. Must give him even more jollies than murdering 1.3 million Iraqis, 4,300 American soldiers, and pushing 120,000 more of our soldiers into suicide. After all, the world is 7.5 billion human beings and this time millions and millions will die, starve to death, freeze to death or die of sickness because they were impoverished by his deeds.
boloboffin
· 1 year ago
It's a psychological thing and a computer thing.
Most people have sell points on their portfolio. If a stock dips below a certain point, the computer automatically issues a sell order. The Dow is like an aggregate of a lot of stocks (although you can invest directly in it), so if it's dropping like this, you can bet that a lot of stocks are tripping their sell orders.
The 500 marks are psychological barriers for people, and you will usually find a lot of sell points below them. That's why the Dow has fallen and can't get back up. It went far enough below 10,000 so that a lot of sell orders were triggered, sending the price even lower. Now that the market has closed below 9500, tomorrow will be interesting to see. I'll bet it rallies above 9500, but if it slides below again on Thursday, it will trigger another round of selling, and Dow 9000 might not stop it. It's a vicious cycle.
At least that's how I understand it. And it's not just Bush, because mass hysteria isn't usually attributable to a single person. But he certainly did get $700 billion for a lot of Wall Street fat cats, didn't he? That's turning lemons into lemonade.
grandma
· 1 year ago
That's what ignorant people like Bush and McCain do..........ignore what's important to the people of America.
bacalove
· 1 year ago
Palins' Un-American Activities
Imagine if the Obamas had hooked up with a violently anti-American group in league with the government of IRAN!. By David Talbot
Oct. 7, 2008 | "My government is my worst enemy. I'm going to fight them with any means at hand." This was former revolutionary terrorist Bill Ayers back in his old Weather Underground days, right? Imagine what Sarah Palin is going to do with this incendiary quote as she tears into Barack Obama this week. ONLY ONE PROBLEM. The quote is from Joe Vogler, the raging anti-American who founded the Alaska Independence Party. Inconveniently for Palin, that's the very same secessionist party that her husband, Todd, belonged to for seven years and that she sent a shout-out to as Alaska governor earlier this year. ("Keep up the good work," Palin told AIP members. "And God bless you.")
They cannot talk about the economy because their Economics is for the Rich, the well-off and the well connected!
tlsintx
· 1 year ago
the success of GOPer economics - or GOPer anything - depends on keeping us distracted while the big money/power boys do whatever the hell they want. that's not working anymore.
slappymagoo
· 1 year ago
I wonder if the inverse is true - that if we only talk about what McCain WANTS to talk about, the stock market will stop tanking and we'll all be better off?
Maybe should vote for the white guy. It just seems right.
Oh...wait, no it doesn't.
gaiilonfong
· 1 year ago
Palins secessionist party has ties to ******I R A N *************
We are probably better off if he doesn't. According to him he doesn't know much about it (and with his millions he doesn't need to). If he said anything it wouldn't be his words and probably wouldn't make sense anyway.
grandma
· 1 year ago
Gallop:
October 7, 2008 Barack Obama has opened up a nine-point lead over John McCain, 51% to 42%, in the latest Gallup Poll Daily tracking. That matches Obama’s largest lead of the campaign to date.
---------------------------------
Keep doing whatever you're doing McWinky...cuz it ain't workin.
tlsintx
· 1 year ago
McWinky...ha!
I heard good old Peggy Noonan bad-mouthing McWinky yet again...Nooners thinks all that winking and "Joe-Six Pack" talk is very un-serious...
sukabi1
· 1 year ago
Ms. Noonan should shut her pie hole... she's one of the folks who helped Mr. 3rd rate actor Reagan look like he wasn't totally brain dead... talk about being "un-serious".
moreleesafer
· 1 year ago
but but but this is his last chance to become president! He promised Cindy and the kids. He would finally be able to exceed his father and grandfather's legacy.
You know Cindy is going to be pissed come Nov 5th. I predict that on Jan 20th 2009, she will be adding a large dose of crushed Percocet and Coumadin (blood thinner-she had a stroke, she's probably on it) to Johnny's tapioca.
Rufus
· 1 year ago
The economy is not important and worthy of discussion. What is worthy is that Obama was conspiring to bomb the Pentagon and Capital when he was 8 years old. It just makes me want to slap Sarah right across that beautiful mouth. She sure is purdy. You betcha.
scottinsf
· 1 year ago
My gold is finally going back up!
MNUSA
· 1 year ago
Good for you. I'll be working til I'm 100.
scottinsf
· 1 year ago
My 401k isn't looking too pretty though :(
Just thought I'd look at the bright side.
MNUSA
· 1 year ago
I wish I were sure the Democrats had a handle on the economy. The bailout was rushed through, packed with pork to get enough Repubs to vote for it and given to Paulson to distribute as he sees fit.
I do feel, though, that between McCain and Obama, it's Obama who has the intelligence, open-mindedness and creativity to solve the monstrous problems the Repubs will hand to him. It'd be nice to get 60 Democratic senators, too, so something can get done. Obama also has a competent, experienced vice president, where McCain has the Babe in the Woods.
AdrianBrowne
· 1 year ago
I forget. Is Economics one of McCain's strong-suits?
doug
· 1 year ago
President Obama has much work to do to salvage this economy.
dasein211
· 1 year ago
Joe and John. I would just like to tell you this is precisely why we shouldn't have passed the stupid bailout bill. It's called a liquidity trap and eventual hyperinflation. I and a ton of economic bloggers said this would happen and it did. we just blew 700 billion. BTW I am an Obama supporter and a precinct captain here in Colorado.
tlsintx
· 1 year ago
i think you are so right. we just treated Goldman Sachs et al to a nice resort holiday somewhere really nice...
Bushco was way too eager to get their hands on that moolah.
vkobaya
· 1 year ago
I would just like to tell you this is precisely why we shouldn't have passed the stupid bailout bill.
Vast majority of Americans were against the bailout, something like 60 to 80% of the entire nation. What does that tell us about the Bush administration, Republicans, but also Damnocrats, Pelosi, Reid, Hillary and, yes, damn it, even Obama. Damn them, damn them, damn them all to hell. Damn them all to the 10th inner circle of hell.
Oops! That is the vaunted prerogative of the Fundamentalists, that is sending people to hell.
lucky hussein
· 1 year ago
at least the credit markets eased a bit today, that's the big concern. stock market? not so much, imo. stock market is unfortunately (with current laws) a bit of a casino, imo. 1% of us people own nearly 50% of stocks. 80% of us people own only 4%
Kozar
· 1 year ago
Exact reason Repubs don't care if they lose this one. Leave this chit mess for Obama for 4 years,then blast him for not fixing it in 2012. Kinda works into a person's hand named Hillary now too,doesnt it? just some random thoughts
vkobaya
· 1 year ago
blast him for not fixing it in 2012.
Doubt they will wait that long. 12:01 on January 20, 2009 they will be screaming that Obama failed and wrecked, trashed and destroyed the nation. If you don't remember, by the end of the first week after January 20, 2001, the Republicans were already yelling and screaming, that Bush was the greatest president ever, and demanding his face should be added to Mt Rushmore. My guess is this time they might not even wait a minute, but a second before they damn Obama for the economic and war mess that Bush has left.
Bush_Bites
· 1 year ago
New Obama ad on McCain's attempts to change the subject.
After Bush signed the bailout bill, there was an expectation that things would at least start to get better -- but no one is seeing that yet.
I didn't expect it. Was a tiny, tiny, minscule chance that I was wrong and Bush was an honest man. I doubted that. He and his crooked Wall Street buddies emzezzled the $830 billion dollars and, of course, the money can't do anything to fix the banking inudstry crisis. That is the reason he wanted no oversight and no preconditions. Congress attached riders to his bailout plan to maintain control, but you know how they carefully word things so they mean the opposite of what they say. Pelosi and Reid each were paid off with a beloved gold Bush dollar coin so Bush will never be held accountable by them. Naw, when I think of it, it is obvious, both of them have to share the Bush dollar and he gave them a silver one. He was, of course, to cheap to give them real money, that is a penny each.
All Comments
So, what does the Dow being below 9500 mean? Does this mean that Bush flushed 10% of the economy down the toilet? Actually, wonder if there is a world securities exchange and how much of the world economy he has destroyed. don't think he was aiming as high as a world wide depression but he must be very, very proud of himself. Can't you just see that nasty smirk on his face as he laughs it up with his buddies. Must give him even more jollies than murdering 1.3 million Iraqis, 4,300 American soldiers, and pushing 120,000 more of our soldiers into suicide. After all, the world is 7.5 billion human beings and this time millions and millions will die, starve to death, freeze to death or die of sickness because they were impoverished by his deeds.
Most people have sell points on their portfolio. If a stock dips below a certain point, the computer automatically issues a sell order. The Dow is like an aggregate of a lot of stocks (although you can invest directly in it), so if it's dropping like this, you can bet that a lot of stocks are tripping their sell orders.
The 500 marks are psychological barriers for people, and you will usually find a lot of sell points below them. That's why the Dow has fallen and can't get back up. It went far enough below 10,000 so that a lot of sell orders were triggered, sending the price even lower. Now that the market has closed below 9500, tomorrow will be interesting to see. I'll bet it rallies above 9500, but if it slides below again on Thursday, it will trigger another round of selling, and Dow 9000 might not stop it. It's a vicious cycle.
At least that's how I understand it. And it's not just Bush, because mass hysteria isn't usually attributable to a single person. But he certainly did get $700 billion for a lot of Wall Street fat cats, didn't he? That's turning lemons into lemonade.
Imagine if the Obamas had hooked up with a violently anti-American group in league with the government of IRAN!. By David Talbot
Oct. 7, 2008 | "My government is my worst enemy. I'm going to fight them with any means at hand." This was former revolutionary terrorist Bill Ayers back in his old Weather Underground days, right? Imagine what Sarah Palin is going to do with this incendiary quote as she tears into Barack Obama this week. ONLY ONE PROBLEM. The quote is from Joe Vogler, the raging anti-American who founded the Alaska Independence Party. Inconveniently for Palin, that's the very same secessionist party that her husband, Todd, belonged to for seven years and that she sent a shout-out to as Alaska governor earlier this year. ("Keep up the good work," Palin told AIP members. "And God bless you.")
http://www.salon.com/opinion/feature/2008/10/07...
They cannot talk about the economy because their Economics is for the Rich, the well-off and the well connected!
Maybe should vote for the white guy. It just seems right.
Oh...wait, no it doesn't.
http://www.salon.com/opinion/feature/2008/10/07...
October 7, 2008
Barack Obama has opened up a nine-point lead over John McCain, 51% to 42%, in the latest Gallup Poll Daily tracking. That matches Obama’s largest lead of the campaign to date.
---------------------------------
Keep doing whatever you're doing McWinky...cuz it ain't workin.
I heard good old Peggy Noonan bad-mouthing McWinky yet again...Nooners thinks all that winking and "Joe-Six Pack" talk is very un-serious...
You know Cindy is going to be pissed come Nov 5th. I predict that on Jan 20th 2009, she will be adding a large dose of crushed Percocet and Coumadin (blood thinner-she had a stroke, she's probably on it) to Johnny's tapioca.
Just thought I'd look at the bright side.
I do feel, though, that between McCain and Obama, it's Obama who has the intelligence, open-mindedness and creativity to solve the monstrous problems the Repubs will hand to him. It'd be nice to get 60 Democratic senators, too, so something can get done. Obama also has a competent, experienced vice president, where McCain has the Babe in the Woods.
Bushco was way too eager to get their hands on that moolah.
Vast majority of Americans were against the bailout, something like 60 to 80% of the entire nation. What does that tell us about the Bush administration, Republicans, but also Damnocrats, Pelosi, Reid, Hillary and, yes, damn it, even Obama. Damn them, damn them, damn them all to hell. Damn them all to the 10th inner circle of hell.
Oops! That is the vaunted prerogative of the Fundamentalists, that is sending people to hell.
Doubt they will wait that long. 12:01 on January 20, 2009 they will be screaming that Obama failed and wrecked, trashed and destroyed the nation. If you don't remember, by the end of the first week after January 20, 2001, the Republicans were already yelling and screaming, that Bush was the greatest president ever, and demanding his face should be added to Mt Rushmore. My guess is this time they might not even wait a minute, but a second before they damn Obama for the economic and war mess that Bush has left.
http://www.youtube.com/watch?v=Rc46IeJp-_w&eurl...
Rolling Stone blasts McCain . . . big time!
http://www.rollingstone.com/news/coverstory/mak...
I didn't expect it. Was a tiny, tiny, minscule chance that I was wrong and Bush was an honest man. I doubted that. He and his crooked Wall Street buddies emzezzled the $830 billion dollars and, of course, the money can't do anything to fix the banking inudstry crisis. That is the reason he wanted no oversight and no preconditions. Congress attached riders to his bailout plan to maintain control, but you know how they carefully word things so they mean the opposite of what they say. Pelosi and Reid each were paid off with a beloved gold Bush dollar coin so Bush will never be held accountable by them. Naw, when I think of it, it is obvious, both of them have to share the Bush dollar and he gave them a silver one. He was, of course, to cheap to give them real money, that is a penny each.