Stocks Slide on Mixed News, Surging Oil

AP ^ | 3/10/08 | Madlen Read

[bjs1779]

NEW YORK (AP) -- Wall Street sank Monday as oil's surge above $108 a barrel and more worrisome signs for the financial sector led investors to extend last week's losses. The Dow Jones industrial average fell more than 150 points, bringing its three-day loss to nearly 515, while broader indexes showed steeper percentage losses.

[JasonC]

I really don't see the point of working for this civilization any longer.

[bjs1779]

It’s just news. Grow a ball or two.

[Southerngl]

I’m trying not to scared here folks. I am really trying. My husband’s job went to Mexico, so he did the adult thing and went back to school to get a welding degree at 46 after thinking he was going to retire with that company. So now he is having trouble finding a job and we are looking nationwide now. Gas is 3.50 a gallon and it is putting a crimp in looking for a job semi-locally. We are getting scared.

[LibLieSlayer]

I am sorry about your problems but being scared is exactly what pelosi and reid want... Things today are NOT EVEN CLOSE to being as bad as when carter was in office. 21% APR loans and STAGFLATION. When the nyslimes starts talking about a misery index... we have arrived!

LLS

[bjs1779]

Gas is 3.50 a gallon and it is putting a crimp in looking for a job semi-locally. We are getting scared.

A lot of people are. Diesel is as high as 4.20 today. That is killing truckers.

[Ribeye]

I’m sorry to hear that. Hopefully you are financially equipped to weather the storm.

The “learn a new trade” folks here @ FR sometimes sound a bit arrogant to me. The fact is, people WITH skills lose their jobs too. And changing industries is not always easy.

We just let a number of sales folks & mechanical and electrical engineers go. More than likely, some will need to relocate to find work any time soon. That means they will be uprooting their kids to do so. That’s a bigger deal to some folks than others but, speaking freom experience, moving from city to city every couple of years is tough on kids.

The cost of raw materials & freight continues to go up, including China where new tax and employment policies are making SE Asia more attractive (for the time being). On slim margins we’re going to be considerably less profitable regardless of how much more efficient we contimue to get.

Folks can rah rah all they want but when our customers are continually revising demand in a downward trend it means something. I’m a little nervous too. Hang in there and hopefully things will turn.

Best wishes.

[Former Proud Canadian]

I am a real estate broker. I was too dumb in 1982 to know how bad things were. This is nothing compared to 22% mortgage rates.

[bjs1779]

Things today are NOT EVEN CLOSE to being as bad as when carter was in office. 21% APR loans and STAGFLATION.

As far as the interests rates goes, that happened under the Reagan administration with Paul Volker as the Fed Chairman.

[bjs1779]

I am a real estate broker. I was too dumb in 1982 to know how bad things were. This is nothing compared to 22% mortgage rates.

That was a hammer alright. But we did have more manufacturing in those days to make up for the housing decline, or at least to buffer it.

[JasonC]

I have a full set, this whole crowd does not. That includes you, apparently.

This John Galt is going to take a nice well deserved 5 year rest or so during Obama's silly presidency, and all the nattering idiots who have dragged down a once serious civilization can go stuff themselves.

[biff]

Try anywhere there is oil drilling activity. Louisiana, west Texas, NW New Mexico, Houston, etc. They are all begging for good welders. Here in west Texas the problem is housing. A lot of folks bring their camping trailers and motor homes to live in until they can find an apartment or reasonable house.

[bjs1779]

You've been reported to the mods, braintrust.

Didn't you ever watch Goldfinger, sensitive one?

[jwalsh07]

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Good luck!

[flaglady47]

I still think that OPEC is keeping prices high in order to sink a Republican presidency. The Arabs want Barak in, not a Pub. You think I joke? I don’t.

[bjs1779]

You must be really old! Here is Pussy Galore in ‘64.

http://www.imdb.com/media/rm3729102848/nm0000303

[JasonC]

Go to hell. Do not pass go.

[bjs1779]

Go to hell. Do not pass go.

Typical liberal when they don't get their way.