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Stocks plunge, S&P goes negative for year
money.cnn.com ^
| August 2, 2011
| Ken Sweet
Posted on 08/02/2011 2:35:56 PM PDT by John W
NEW YORK (CNNMoney) -- U.S. stocks plunged on Tuesday as fears about a weak U.S. economy were enflamed after investors got another disappointing economic report - this time on consumer spending.
The selloff was so broad and so deep it pushed the S&P 500 into negative territory for the year and bond yields to their lowest levels in nine months.
(Excerpt) Read more at money.cnn.com ...
TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 112th; bhodjia; bhoeconomy; debt; debtceiling; economy; obama; palin
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1
posted on
08/02/2011 2:35:58 PM PDT
by
John W
To: John W
We need QE3 and a massive increase in taxes to get us back on track.
If THAT doesn't work then QE4 and an even HIGHER increase in taxes.
2
posted on
08/02/2011 2:38:32 PM PDT
by
EGPWS
(Trust in God, question everyone else)
To: John W
To: John W
No kidding! Wonder if it had anything to do with the Presidents attempt to qualify the debt deal - ie. more taxes (balances approach)... Hmmm, seems like whenever he opens his mouth, stocks fall...
4
posted on
08/02/2011 2:41:28 PM PDT
by
Deagle
To: John W
TG default was avoided, otherwise the market would have plunged. Did any of the morons living in this nation happen to notice?
5
posted on
08/02/2011 2:43:44 PM PDT
by
throwback
( The object of opening the mind, as of opening the mouth, is to shut it again on something solid)
To: throwback
6
posted on
08/02/2011 2:50:12 PM PDT
by
John W
(Natural-born US citizen since 1955)
To: EGPWS
If THAT doesn't work then QE4 and an even HIGHER increase in taxes. You forgot about adding another entitlement or a few thousand pages of regulations.
7
posted on
08/02/2011 3:08:29 PM PDT
by
PogySailor
(The ruling class will not go down easily. And neither will their paid hacks.)
To: PogySailor
You forgot about adding another entitlement or a few thousand pages of regulations.Wll, if you call making all illegals legal (voters) an entitlement then I 'spose.
8
posted on
08/02/2011 3:12:11 PM PDT
by
EGPWS
(Trust in God, question everyone else)
To: Deagle
My guess is that it did.
It had not been good all day, but shortly after that jerk opened his mouth it dropped over 100 more points.
I hate Obama and wish him the very worst.
9
posted on
08/02/2011 3:13:46 PM PDT
by
Gator113
(Palin 2012, period.....)
To: John W
To: EGPWS
People will not spend money until they are not longer afraid for the future. Nothing Washington is doing has inspired confidence. The root of the problem is in D.C.
11
posted on
08/02/2011 3:39:36 PM PDT
by
WMarshal
(Where is the next Sam Adams?)
To: John W
Obama’s RG speech was all about spend, spend,spend, raise taxes, raise taxes, raise taxes, enough to scare the hell out of any market investor.
12
posted on
08/02/2011 3:45:32 PM PDT
by
Sea Parrot
(Obama may not be a natural born citizen, but there is no denying that he is a natural born liar.)
To: John W
Obama, Reid, McConnell, Boehner, et al, you ain’t seen nuthin yet!! IDIOTS!!
13
posted on
08/02/2011 4:09:03 PM PDT
by
Jim Robinson
(Rebellion is brewing!! Impeach the corrupt Marxist bastard!!)
To: John W
bond yields to their lowest levels in nine months.At least the bonds "yield". The stock market is just a little too volatile for my blood these days. I expect it to crash back down into the 7500 range in the next year. But I've been wrong before.
14
posted on
08/02/2011 4:13:28 PM PDT
by
P-Marlowe
(LPFOKETT GAHCOEEP-w/o*)
To: John W
Bonds are down, too.
Everything’s becoming worthless.
Swell.
15
posted on
08/02/2011 4:23:15 PM PDT
by
P.O.E.
(Pray for America)
To: Jim Robinson
I do believe you are right. People are PISSED out there.
To: P.O.E.
“Everything’s becoming worthless.”
Except my silver and gold coins !
To: George from New England
18
posted on
08/02/2011 4:32:36 PM PDT
by
Magnum44
(Terrorism is a disease, precise application of superior firepower is the cure)
To: John W
Just a little perspective: In Jan 2007 when the Reid/Pelosi cartel took control of Congress the DOW was at 12398.
19
posted on
08/02/2011 4:38:25 PM PDT
by
csmusaret
(The only borders Obama has closed is a bookstore.)
To: EGPWS
Sounds like a plan. Let’s do it!
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