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Posted on 08/04/2011 1:35:40 PM PDT by tobyhill
Any way you cut it, it was a terrible day for the stock markets.
Worries about the state of the economy in the U.S. and around the world slammed stocks on Thursday, driving the Dow to close down more than 500 points and sending the broader S&P 500 index well into correction territory.
The Dow Jones industrials average ended down more than 4 percent. The broader S&P 500 index was down around 10 percent from its May high. The market's so-called "fear index," the CBOE Volatility Index (VIX), rose above 30 in its biggest daily percentage move since May 2010.
(Excerpt) Read more at msnbc.msn.com ...
“I got my azz handed to me today.”
Me too. My crystal ball was in the shop last month.
I maybe melting by this weekend.
Yes it’s Bush’s fault. Also Clinton’s and Obama’s for trade deals that exported our economy’s seed corn. Obama, talking yesterday, was still pushing for trade deals. We have to make more of what we import.
The nation’s current problem is JOBS not politics, health care, taxes or budget balance which seems to be the focus of Washington’s both parties. First things first.
There are some 25 million un/under employed put them back earning money, paying taxes and buying things and the economy will be back to the way it used to be.
Happy Birthday, Dictator Obama.
If your not close to retirement, buy more shares now!
Stand in line for the bandages....think I am ahead of you.
Nope, believe it or not the new meme is the Tea Party Did It.
I am seeing this repeated over and over all over the net.
Here is one example:
StocksThat is from my local city forum. I've seen almost the same message verbatim at half a dozen other sights. The Obama Team is working overtime to point the finger of blame away from themselves.Handy Randy (47 minutes ago)
Hmmm.. look at the huge drop in the market, could that be due to the wonderful debt deal the teabaggers pushed on us and their taking us to the brink of disaster? Gotta love these nutjobs on the right. Had enough yet folks?
So Obama; How is that ‘hope and change’ working for ya?
And Bonner; How is that ‘compromise with the communists’ working for you?
If the 25 million un or underemployed people were employed in factory jobs averaging $35,000 pet year, and were taxed at 15%, the treasury would be bringing in another $131 billion in tax revenue per year.
We do have a tax revenue issue but it is not the tax rate issue the Democrats want to talk about. The revenue problem is about underemployment in e economy not about those who are paying taxes being asked to contribute more.
Bring the factories back to the USA. End the free trade experiment, reinstitute tariffs, drill for oil, kill regulation, and end the corporate tax on profits realized from US manufacturing. Step back and watch investment in job creating manufacturing boom.
The only consolation is that this comes the day after Debbie Wasserman Shultz says they’ve turned the economy around.
I didn’t make as much as I should have. Damn I should have bought puts right out of the open.
Bring the factories back to the USA. End the free trade experiment, reinstitute tariffs, drill for oil, kill regulation, and end the corporate tax on profits realized from US manufacturing.
I was just past making up my losses from the 2008 crash, and now we’re back to negative for the year...
I have been hesitant to put more cash into the market, but then it’s nice to know that with QE2 and the forthcoming QE3, my money market funds will be worthless in due time.
Is Robert Mugabbe Obama’s financial adviser?
Mark
Even another in revenue per year is a tiny part of what it would take to balance the budget. The problem is that the government is spreading money around like water.
Make my own bread and jam. Only need peanuts.
Chickens
Eat your peas! Everybody should have gold in their 401K.
Pray for America
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