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 ...
2.) Stock Market ends day in free fall.
Connection?
The peak a year ago was about 15,000. By this morning, we were down about 35%. Now it looks like we might end up down 50% from last year’s high before this is over. Doesn’t look good. Of course in the long run, things will improve, but a lot of people will be dead by then, with a very unpleasant last few years of their lives.
We need to make everyone understand that this is Not the Fault of Republicans, they bear no responsibility. It all the fault of the Democrats.
Yes, I purchased a few shares of SPY (S&P 500) at 150 (this year), we're now well below 100 for a loss of more than 33%.
Without the Fed, we will not recover for more than a decade, and with the fed, we may recover within a year.
Not much of a choice, but it's a rational one.
AMEN!
yeeeeeoooowwwwwwwwwwwwwwwwwwwwwwww!!!!!!
Right. I want Barney Frank and Chris Dodd to share a pair of pikes............
Gee, and I thought the 700 Billion $$ bailout was supposed to save us.....</sarcasm>
Where'd you get your information? I'd really love to know.
Wasn't so long ago, the republicans had control of it all.....and did nothing!
I blame the dems to be sure, but I'm not lettin these crooked politicians on the other side of the aisle off either.
Heads need to roll.
History!
I was thinking the same thing, and I wasn't even wearing a tinfoil hat.
Boy its a good thing we rushed $850,000,000,000 through Congress without any hearings or serious discussion...otherwise the markets would have been in a lot of trouble. /heavy sarcasm
Vote them out. All of them. Democrats, Republicans...vote them out.
When’s the last time we had a good tar and feather session? With real tar and real feathers.
Good luck getting past the Obama media firewall on this one. Their entire argument is a logical fallacy: because this happened during the Bush years and he is a Republican, it must be entirely the GOP's fault even though, in actual fact, the Democrats are primarily responsible. Unfortunately, politics is seldom logical. Moreover, who on our side can both clearly identify and explain what led to this problem and how to get out of it? Unfortunately not John McCain, whose strength is not economics. Not Obama either -- his "solutions" amount to pouring gasoline on a burning house.
Yeah, I’m going to scrape up some cash.
Want to make sure my 401K contributions go in soon, too.
People are still losing Ca$h...da da dum da dum
This bailouts not working!
I’ve been sitting mostly in cash for a while now.
Now I’m browsing for some bargains. Bought in a little bit yesterday, and I’m still looking. There are some really good values out there now. The next few weeks will be a great time to buy in.
There’s lots of good solid companies that’ll bounce back fierce after this little adventure— but their stock prices are just getting pounded along with all the others.
Say... we ought to have a stock research and discussion thread...
There are still trades that have to be done. Mutual Funds etc. plus - after hours trading etc.
George Bush has beenin office for 7 1/2 years. The first six the economy was fine.
A little overone year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOWJONES hit a record high-14,000
5) American’s were buying new cars, taking cruises, vacations overseas, living large!...
But American’s wanted ‘CHANGE’!
So, in 2006 they voted in a Democratic Congress and yes—we got ‘CHANGE’ allright.
In the PAST YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $3 a gallon
3)Unemployment is up to 5.5% (a 10% increase);
4) Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping;
5) 1% ofAmerican homes are in foreclosure.
6) THE DOW is probing another low~~ $2.5 TRILLION DOLLARS HAS EVAPORATED FROM STOCKS,BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!
YES, IN 2006 AMERICA VOTED FOR CHANGE...AND WE SURE GOT IT! ....
REMEMBER THE PRESIDENT HAS NO CONTROL OVER ANY OF THESE ISSUES, ONLY CONGRESS.
AND WHAT HAS CONGRESS DONE IN THE LAST TWO YEARS, ABSOLUTELY NOTHING. (actually, they did something...none of it good)
NOW THE DEMOCRATIC CANDIDATE FOR PRESIDENT CLAIMS HE IS GOING TO REALLY GIVE US CHANGE ALONG WITH A DEMOCRATIC CONGRESS!!!!
JUST HOW MUCH MORE ‘CHANGE’ DO YOU THINK YOU CAN STAND?
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