Here we go again...........DOW opens down sharply.....

MSN Money ^ | 08-08-2011 | Staff

[who knows what evil?]

The only thing he can do or say at this point that’ll help is RESIGN!

ZeroAA is no Richard Nixon...Nixon had more honor and dignity...

[444Flyer]

BreakingNews Breaking News Obama to deliver statement at 1 p.m. EDT - NBC News

[CedarDave]

The downfall seems to have stabilized over the past hour at -300 points. Maybe waiting to hear what platitudes/blame Obama pontificates before it heads down once more.

[caww]

S&P cuts Fannie Mae and Freddie Mac credit ratings from AAA to AA+

Yea, saw that too...looks like they are begging for another 5 billion plus from the taxpayers....feeding a dead horse generally isn't a good thing.

[NELSON111]

And that makes sense...and hence the reason that I am beginning to think that all this "crash" talk...at least in regards to it happening immediately or in the next couple of years...are a little overblown.

If Europe is fleeing to treasuries...and if China really can't dump the US without crashing their OWN economy...then I don't see how we get this hyper-style inflation so many FReepers keep touting....at least not in the time frame they are saying.

Lance Roberts on KSEV in Houston said on Friday evening that this was not going to cause bonds to rise like some were saying. He has been right about pretty much everything so far. Think I will start listening to him.

[conservaterian]

This is GREAT! Obama’s chances in 2012 are riding this down. We’ll be able to nominate anybody and beat him. The TEA PARTY will own 2012!!!

[Gabrial]

“thats alot of empty couch for those two to have to sit so close to each other”

I'll say. They are really in each other’s stuff. Part of the radical’s playbook is to reject all societal norms including embracing homosexuality.

[teeman8r]

BreakingNews Breaking News
Obama to deliver statement at 1 p.m. EDT - NBC News-—

because the market isn’t falling fast enough

if i wasn’t so poor as to not invest in the market, i may get back in where i got out in 1990... at 7900...

teeman

[massmike]

[CedarDave]

Rush is on a bad-ass roll this morning. Saying this is what he meant when he said he hopes Obama fails. It it obvious O succeeded with what has happened.

Rush then calls him “Debtman walking.”

[jjsheridan5]

... I am beginning to think that all this "crash" talk...at least in regards to it happening immediately or in the next couple of years...are a little overblown.

It depends on which type of crash you are talking about. A deflationary collapse, triggered primarily by European collapse, is very much still in the cards. This will, as you point out, make our debt more attractive, at least over the short term. There is no way on God's green earth that Germany will actually bail out Europe. To do so, would mean that their debt would instantly become worthless. Politically, however, they are playing along, just so that they don't appear to be the villain.

A hyperinflation situation is possible, but only after a violent, forced de-leveraging occurs globally. And it will, since an ordered, voluntary de-leveraging is simply not going to happen.

By the way, with all the focus on the DOW, is anyone seeing what is happening in the European markets over the last few hours? Some pretty serious carnage.

[Red Badger]

This is the new Obama Suit!................

[Red Badger]

Bonds won’t rise unless the printing presses at the Federal Reserve start working double overtime shifts. Then you’ll have that hyperinflation. QE3? TARP2? If that happens look out! The dollar will be in free-fall. Every country that has gotten itself into a bind with creditors has tried inflating their way out of the mess. That’s what happened in Weimar Republic Germany just before Hitler seized power. He wasn’t going to let a good crisis go to waste...........................

[Mad Dawgg]

WooHoo Another ride on the Obama Economy Coaster.

Its a freak of Newtonian physics, it only goes one direction!

DOWN!

[kcvl]

BUFFETT DOWNGRADED...

Berkshire, Other Insurers Get ‘Negative’ Tag from S&P

http://blogs.wsj.com/deals/2011/08/08/berkshire-other-insurers-get-negative-tag-from-sp/

[Red Steel]

Dow Jones Industrial Average

(DJI: ^DJI )

Index Value:	11,037.20
Trade Time:	1:50PM EDT
Change:	407.41 (3.56%)

[Arrowhead1952]

Mark for later

[comebacknewt]

About what I expected so far. I am also anticipating a late rebound though.

Here's hoping.

[Red Steel]

Dow Jones Industrial Average

(DJI: ^DJI )

Index Value:	10,996.30
Trade Time:	2:00PM EDT
Change:	448.31 (3.92%)

[Red Steel]

You may be in luck for a rebound. Rush said something about the government or Fed (ordering?) flooding the market with buy orders after Obama gets done blabbing nonsense.