Posted on 03/05/2009 9:40:35 AM PST by pissant
NEW YORK (CNNMoney.com) -- Stocks fell hard Thursday after a litany of grim developments: GM said its survival is in doubt, bank shares took a beating and Citigroup broke the buck.
Adding to the global woes: China defied expectations by failing to boost its economic stimulus program.
The Dow Jones industrial average (INDU) fell 196 points, or 2.9%, over two hours into the session. Earlier, the Dow fell as low as 6654.59, the lowest point since April 22, 1997.
(Excerpt) Read more at money.cnn.com ...
**OBAMA’S FAULT!!!**
Ditto to that.
Scary!
**“However...if we’re in Great Depression v. 2.0, will it matter?”**
My advice to my friends is start buying two of basic essentials. Stock up. You’re going to need it.
That’s one approach. Another is that when your opponent is at the edge of a cliff, give him a shove to ensure the outcome. :-)
Right now it would have the opposite effect.
Actually I don’t but I know a little about it.
Maybe I should...
I really feel that the market today is reacting to the nationalized health care statement.
I mean, I can see reluctance on the part of many normal, patriotic Americans to get involved behind some of the people that we have in control right now, especially when a lot of Americans are immersed in a financial calamity of their own.
Obama and the likes of Pelosi, Reid, Holder, Roper, Geitner, etc. are viewed by a significant portion of the Country as part of the problem and downright un-American despite the Election that the Reps handed to them or that they attained by outright fraud.
Pro-shares ETF DDM (goes long the Dow 30) is cheap and pays a steady dividend each quarter while you’re waiting. However, all of the ETFs may fall apart. Who knows? This market is rough.
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