Posted on 06/04/2010 1:04:15 PM PDT by markomalley
NEW YORK (MarketWatch) -- U.S. stocks sank broadly Friday, pushing the Dow Jones Industrial Average well below the 10,000 level following a weaker-than-expected job report and renewed worries about euro-zone debt.
Major stock indexes are also on pace to close out the first week of June solidly in the red, despite a big rally on Wednesday and slight gains on Thursday.
The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 9,934, -321.27, -3.13%) was down 327 points, or 3.2%, to 9,927, in recent trading, as investors expressed their concern with the government's May nonfarm payrolls report.
(Excerpt) Read more at marketwatch.com ...
It’s that “Fat Fingers” guy again.
Obama needs to talk up some more taxes on energy. That will sink it under 9,000.
Oilbama will know what to do.
I am certain of it.
Glad to see “The One” having the time of his life while most others are suffering.
It’s OK, because everything is (still) Bush’s fault. So there’s no need for Obama to actually, you know, *do* anything.
If the Palestinians only had a place to call home, all of this wouldn't matter.
Congress and the administration made a major economic policy error when they passed the health care “reform” bill. That bill created huge uncertainty about future health care costs and taxes for business, which has essentially caused a hiring freeze in all but the biggest and most profitable corporations. The democrats couldn’t have written a more economically destructive piece of legislation and then passed it at the worst possible time, as the economy is beginning to emerge from a severe recession.
I heard an interview with a Fortune 500 CEO who had lunch with Obama and told him that the health care bill was going to damage our economy. The CEO said Obama’s reaction was essentially to tell the CEO that he was lying about the economic impact of this legislation. That response from Obama shows that the White House and democrat congressional leaders have no understanding of how government regulations and taxation affect the private sector. They think the private sector just keeps rolling along and hiring lots of people regardless of government policies, and that is just not true. Government policy has a big impact on private sector hiring and economic growth. Government policy is the main reason why socialist Europe is in such a mess right now and why we’re having a real struggle to get out of this recession.
We’re approaching a turning point soon where the economy is either going to continue to grow slowly or it’s going to fall back into a double-dip recession. Economic indicators are mixed and inconclusive lately, but a strong recovery is looking increasingly unlikely.
I wonder if Obama will be attending the build a burger conference? Or is this one of the trips he cancelled because of the oil spill?
He supposedly has the new world currency in hand as many other world leaders. Fake global warming didn’t do it so they had to tell Obama to quickly destroy us too do it.
In Seinfeld voice.... “Seinfeld”
Must be Barry’s good job numbers
bump
” Barry’s good job numbers “
Never thought I’d see “Barry” and “good job” together in the same sentence - especially not here on FR...
;)
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