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Dow ends below 10,000 on economic worries
Reuters/YahooNews ^ | 8/26/10

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 ...


TOPICS: Breaking News; Business/Economy; Culture/Society; Government
KEYWORDS: bho44; bhodjia; bhoeconomy; dow10000; dow10k; economy; wallstreet
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To: screaminsunshine

ALL if TV is Obama’s enablers including Fox/Saudia.


21 posted on 08/26/2010 2:13:32 PM PDT by Frantzie (Imam Ob*m* & Democrats support the VICTORY MOSQUE & TV supports Imam)
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To: Son House

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.


22 posted on 08/26/2010 2:19:58 PM PDT by ex-snook ("Above all things, truth beareth away the victory")
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To: Kartographer

23 posted on 08/26/2010 2:21:53 PM PDT by dead (I've got my eye out for Mullah Omar.)
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To: mikelets456

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


24 posted on 08/26/2010 2:26:22 PM PDT by kcvl
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To: neodad
Just ask Joe he'll tell you: HEY THIS IS A BIG F#@%+& DEAL!
25 posted on 08/26/2010 2:26:36 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

26 posted on 08/26/2010 2:28:07 PM PDT by kcvl
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To: TexasCajun

“..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


27 posted on 08/26/2010 2:29:33 PM PDT by Parley Baer
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To: mikelets456

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...


28 posted on 08/26/2010 2:30:01 PM PDT by Deagle
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To: Kartographer
"So what say you blam? Maybe they were out playing golf today! ;-)"

Went for drinks to early...they lost it about 15 minutes before closing.

29 posted on 08/26/2010 2:45:25 PM PDT by blam
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To: Kartographer

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


30 posted on 08/26/2010 2:47:25 PM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: Kartographer

uh-oh.


31 posted on 08/26/2010 2:49:18 PM PDT by ichabod1 (Hail Mary Full of Grace, The Lord Is With Thee...)
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To: kcvl

That’s the caddy on the left, right?


32 posted on 08/26/2010 2:54:37 PM PDT by Roccus (......and then there were none.)
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To: ex-snook

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


33 posted on 08/26/2010 3:00:03 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: Kartographer

‘tis slowing down the economic recovery?


34 posted on 08/26/2010 3:00:08 PM PDT by Ancient Drive (DRINK COFFEE! - Do Stupid Things Faster with More Energy!)
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To: blam

“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? ;-)


35 posted on 08/26/2010 3:00:38 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: E. Pluribus Unum
Looks like the Plunge Protection Team did indeed lose control of the Dow.

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.

36 posted on 08/26/2010 3:03:19 PM PDT by Publius (Unless the Constitution is followed, it is simply a piece of paper.)
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To: dead

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...


37 posted on 08/26/2010 3:06:23 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: Deo volente
Not to mention Fannie and Freddie as insolvent and will need another few hundred billion just to stay afloat.
38 posted on 08/26/2010 3:06:58 PM PDT by Gabrial (The Whitehouse Nightmare will continue as long as the Nightmare is in the Whitehouse)
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To: Kartographer
Fighting The Correction In The Worst Possible Way
39 posted on 08/26/2010 3:09:02 PM PDT by blam
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To: Roccus

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

NEMCO BROKERAGE, INC.

Nemco Brokerage, Inc. is a foreign corporation registered in the state of Vermont (file number F-28451-0). It was incorporated in New York on 09/25/2006. The company headquarters are in NEW YORK NY 10017.

The business of Nemco Brokerage, Inc. is described as sale of insurance.

NEMCO Brokerage, Inc. is an entrepreneurial firm providing employee benefits brokerage and consulting expertise to public and private firms across many industry sectors. NEMCO also designs life, disability and related financial programs for high net-worth individuals and their companies.


40 posted on 08/26/2010 3:14:33 PM PDT by kcvl
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