Posted on 03/02/2009 3:30:07 AM PST by TigerLikesRooster
Stock futures indicate Dow to fall below 7,000
By Steve Goldstein, MarketWatch
Last update: 6:11 a.m. EST March 2, 2009
LONDON (MarketWatch) -- U.S. stock futures dropped Monday as financial giants like American International Group and HSBC Holdings took moves to raise more capital and as Warren Buffett said the economy would be in "shambles" this year.
Futures on the Dow Jones Industrial Average (DIA) indicated a retreat below the 7,000 level, as the March contract dropped 108 points to 6,944.00. S&P 500 futures (SPY ) fell 14.8 points to 719.40 and Nasdaq 100 futures (QQQQ ) fell 19.75 points to 1,097.20.
U.S. stocks dropped on Friday, and closed the month with its worst performance since 1933. The S&P 500 dropped 10.9%, and has dropped 18.6% so far this year, the worst start to the year on record.
"The path to least resistance remains down," said Alec Young, market strategist at Standard & Poor's. He said Friday's job report might lead to a "real capitulation."
Monday's key report will be the Institute of Supply Management's report on manufacturing sentiment for February. Personal income data for January also will be released, as will January construction spending.
(Excerpt) Read more at marketwatch.com ...
—No...it throws a “temper tantrum” because big bankers and the Fed are robbing the middle class blind.—
No argument there, but that’s been going on for a while.
Yeah, sorry if the unemployment numbers include those who never (or no longer) received unemployment benefits. Glad I could help.
You’re right, but there is one Obama cheerleader over on CNBC...the bald guy on Squawk Box in the AM. I don’t know his name, but he’s defending Obama and attacking Santelli every time he can.
Yes, and since that bailout was so successful in stabilizing the market, they're going to keep doing it.
So his name is his fate (nomen est omen).
Ike, did you know the old survival thread is still going strong? Here’s the URL for part 2:
http://www.freerepublic.com/focus/chat/2181392/posts?q=1&;page=3001
Your chart’s off. The fall happened on Monday Oct 6+, 2008. It was 9955 at the close on that date.
Yes your right. His name is Steve Leesman or something like that. He and Santelli agree on nothing. He does cheerlead for Obama though.
Eight years? Had to have begun eight years ago, as we all know what zealots the Clinton administration was about rooting all fraud.
Oops, you caught him.
Look at the data. We had a very sharp correction in 2000 - the Tech wreck. You can say that that was the correction to the Clintoon fraud.
Then in 2002 Greenspan and the financial institutions started blowing the next bubble in RE based on lies and fraud on all sides - regulators, banks, mortgage brokers, mortgage applicants, etc.
Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch.
You can’t solve any problems by burying your head further up your butt.
If you think that correction shook out all of the fraud in the system generated under the Clinton administration, you're fooling yourself. If you think the current meltdown was Bush, all Bush, data is only part of the picture. Policies enacted, without time for them to be played out are easy enough to ignore, but do play a part.
Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: Thursday, September 30, 1999
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
This mess is a bipartisan mess & the policies that led to it are decades old! If I had to pin it on to any single policy, I'd go with Johnson's guns & butter, where government spending was detached from our nation's ability to pay for it.
COLA's, making hay from the numbers of the "most selfish cohort" & creation of policies to reduce all of the cohorts following them (birth control & abortion on demand) & the changed expectations between the government & governed... it was only a matter of time. The only way out of the mess created by "the Greatest Generation" is twofold, repeal COLA & go through a painful stint of hyperinflation. Current devaluation is the run up.
Demonize Boomers, so breaking trust with them is politically viable, they should be reduced to eating dog food in their old age, because they've been a drag on our society since they were all hatched, can't wait until they're all dead & out of the way... I have an idea, give them the right to off themselves, better yet, make it a responsibility. /rant
Then in 2002 Greenspan and the financial institutions started blowing the next bubble in RE based on lies and fraud on all sides - regulators, banks, mortgage brokers, mortgage applicants, etc. Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch. You can’t solve any problems by burying your head further up your butt.
Bush, like all other Keynesian's fed the beast instead of killing it, correcting the underlying causes too much of a political hot potato! Common poll question, "do you think President X cares about you & your concerns." PUKE!
Bush inherited a population with too many with the expectation that the government has to "care" & the role of Prez is to be everyone's big Daddy. Uncle Sam has to be Uncle Sugar or the children get testy. Tough love is too mean spirited, tho it's what the population needs. "We're a wealthy society, so no one should have to struggle." Roll out the red carpet, society owes you the life of your dreams. Cradle to grave, your gobmint will "take care" of you. Intrusions into you liberties? Need to have 'em so that Uncle Sugar can better meet your needs. You wanna talk fraud, the greater fraud perpetrated was less fiscal policy & more about the rewrite of the social contract. We've been living in houses made of straw, cuz building with bricks no longer necessary with all of the protections our government claims to provide.
Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch.
Fruits of the New Deal ripened under Bush & GOP legislative watch, but it's short sighted to lay it all on them. It would have taken enormous political will to reverse the path to ruin that we've been on. Appeasement & kicking the problems down the road, hoping the other guys are stuck holding the bag when the ... stuff finally hits the fan has been the "smart" move.
Great as Regan was, deficit spending increased on his watch. Even Regan kicked the problems down the road.
You can’t solve any problems by burying your head further up your butt.
I try to be less about figuring out who needs to be blamed & more about trying to figure out workable solutions, but that's just me. Still can't resist occasionally tweaking the nose of finger pointers, specially those like you who I believe are smart enough to be an asset to proposing real & workable solutions.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.