Posted on 10/09/2008 12:59:03 PM PDT by Red Badger
The Dow Jones industrials fell under 9,000 this afternoon for the first time since the summer of 2003 as investor confidence that markets would stabilize appeared to collapse. At 3:40 p.m. ET, the blue chips were down 641 points, or 6.9%, to 8,617. The Standard & Poor's 500 Index was off 74 points, or 7.5% to 911. The Nasdaq Composite Index was down 94 points, or 5.4%, to 1,646. The S&P fell under a closely monitored support level of 960. A support level is important because it is supposed to trigger new buying. At those levels, the crash of 2008 has left the Dow 39% below its record close of 14,164.53 and the S&P 500 down 41% from its record close of 1,565.15. Ironically, both records were set exactly one year ago today.
(Excerpt) Read more at articles.moneycentral.msn.com ...
Sounds good to me.
If this election turns out the way I fear it will, it probably means the death of the Republican Party.
Sports mentality...Your team vs. mine...People are so easily distracted.
Ants and grasshoppers.
Please don’t take this wrong, as I love America for it all it represents and all it has advanced in our World, but the Founding Fathers made a very significant mistake. Giving Congress the power to coin money was a good idea, but was too general and allowed succeeding generations to distort the original intent, not unlike the Second Amendment.
But by giving Congress essentially a blank check to borrow money, they made a fatal error that opened the door to repeated intrusions by a central bank. You have to remember that not all members of the Constitutional Convention were opposed to a central bank. In fact, many fought strongly for it. This compromise was the proverbial ‘foot in the door’ that has come to haunt us so today...
“I want Barney Frank and Chris Dodd to share a jail cell.”
I like your thinking.
I appreciate what you said...;) I just see it so clearly. It is so overwhelmingly obvious what is wrong, yet it is never addressed. We are fast becoming worker bees in a global factory, destined by our inattention to important things.
A lot of history is playing out this very day. Lots of men and women have dedicated their lives, families, and fortunes to bringing about these changes for hundreds of years. It’s interesting to observe, though I passionately disagree with the direction...
I am curious what additional entertainment is going to arise tomorrow as all of the World’s major financial players, plus the IMF and World Bank gather in Washington to discuss this situation. It really doesn’t bode well as I expect massive bailouts, massive inflation, and the potential for devastating economic measures.
It’s not the size of the Federal Government. It’s the free minting of worthless currency passed around the World to shore up financial institutions and governments whose very charters doom them to a constant deficit. We are very kind to foot this bill, but we pay dearly for it in the sacrifice of our freedom.
McCain alone cannot fix this mess, and I’m not seeing too many indicators he is going to try...
yeah but it needs a better name. like...Conservative, perhaps?
I wonder what the balance is? A true free market allows the failings of one man to take advantage of another if they so choose. I want there to be a free market, but with an unlimited supply of currency fed into the system and a compliant government, it seems we run into predictable problems.
There already are several parties with conservative in the name....all floundering in nothingness.
ok but a party named after a bird? it will get lost in the clouds
“Perhaps it’s less of a “crash” that we’re seeing, than it is a “return to the baseline” of true values....”
It’s been very obvious to me that the politicians, including Obama and McCain, are trying so hard to protect those that took these huge risks and played with the money. The prices of homes are returning to realistic values and when the prices come down to the point that people are willing to pay those prices, the housing market will stabilize.
That is a supply vs. demand market but our govt is more interested in protecting those that took risks than in promoting an honest economy based on supply and demand.
I don’t think so. The falcon is quite the predator. (It’s an acronym anyway). And the platform is pure rock ribbed Reaganism.
Im sure I have no idea what you're talking about - quite possibly you too.
they have not even begun yet to implement the 700B part of the bailout.
Umm, I also have no clue what gave you this idea. According to the people I listen to on the radio, they've already given out MORE than the 700Billion and just aren't asking any more.
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