Posted on 08/26/2010 1:46:40 PM PDT by Kartographer
The Dow closed below 10,000 on Thursday for the first time since early July a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by the Federal Reserve chairman.
According to the latest available figures, the Dow Jones industrial average (DJI:^DJI - News) dropped 74.25 points, or 0.74 percent, to 9,985.81. The Standard & Poor's 500 Index (^SPX - News) lost 8.09 points, or 0.77 percent, to 1,047.24. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 22.85 points, or 1.07 percent, to 2,118.69.
The last time the Dow finished below 10,000 was July 6.
(Excerpt) Read more at finance.yahoo.com ...
ALL if TV is Obama’s enablers including Fox/Saudia.
Do you really think that with a tax cut business would create jobs in THIS COUNTRY? Tax cuts worked in the past in the era before companies sent their factories overseas. It does not seem that a tax rate cut would offset the pull of cheaper costs elsewhere.
It would really help if business management would state that they rehire those laid off if they received a rate reduction. Right now we only hear from politicians and we know how reliable they are.
US President Barack Obama (2nd-R) fist bumps with Marvin Nicholson (2nd-L) as he palys golf with Eric Whitaker (L) and Cyrus Walker at Farm Neck Golf Club in Oak Bluffs on Martha’s Vineyard, Massachusetts, on August 26, 2010. The US First Family is vacationing on the Island until August 29.
http://www.daylife.com/photo/0dMt4aZg9jcKz?q=obama
“..as Obamah plays his 4th round of golf for the week.”
Yes, but Obama had a conference call that the msm was more than eager to report. Bwahahahahahahahaha
Sure hope that this is not a sign of things to come...but not that hopeful. This may become the high-point of the market for the next few years with this administration. Hopefully, the November elections will provide enough hope to change the markets...
Went for drinks to early...they lost it about 15 minutes before closing.
Watch out for the manufacturing numbers next week. If they’re bad, that would go a long way towards confirming the fears of a double-dip recession.
Foreclosures up
Unemployment numbers barely changed
Manufacturing down
Credit still tight
Tax cuts expire soon
Summer of recovery marches on! /sarc
uh-oh.
That’s the caddy on the left, right?
Yes, but of course there are other pro-American Business steps to be taken, please share your ideas far and wide, and our security has been very reliable over other countries, minus what McCain and the amnesty crowd are trying to do
‘tis slowing down the economic recovery?
“Went for drinks to early...they lost it about 15 minutes before closing.”
Maybe there was a Thursday ONLY Happy Hour Special? All the Gulf Shrimp you can eat? ;-)
The PPT cannot lose control until after the election, at which time they can let things go down in steps.
However, if you are right and they have lost control now, then things are far worse than we're being told.
http://online.wsj.com/article/SB123249646698200289.html
In normal recessions — the argument goes — an increase in discretionary government spending is unnecessary and even counterproductive. But in the event that a recession becomes a depression, a Keynesian stimulus package might work.
The Democrat Economist should have know this about Keynesian economic theory, therefore, like the JournaList, let me introduce to you;
the Econolist
Transcript of Pelosi, House Democratic Leaders, and Economists’ Press Conference Following Economic Forum
http://www.speaker.gov/newsroom/pressreleases?id=1414
Speaker Pelosi.
“I am pleased that we had the benefit of the thinking of Dr. Mark Zandi, Dr. Alan Blinder, Bob Kuttner, Heather Boushey, Bill Hambrecht, and Allen Sinai.”
add Christina Romer and Paul Krugman. Did I miss any other Democrat economist?
WH Advisor Jared Bernstein, Treasury Secretary Tim Geithner, National Economics Council chief Larry Summers and the rest of his economics team
The EconoList, similar to the JournaList...
Marvin Nicholson, White House trip director, left, and friend Cyrus Walker, right (White House can’t provide information about him for some reason)
Cyrus D. Walker, Vice-President
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