Dow Down 322 - Democratic Underground

DemocratSinceBirth

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Wed Oct-15-08 09:20 AM
Original message

Dow Down 322

I knew Monday's rally was a sucker's rally...

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Alter Ego

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Wed Oct-15-08 09:22 AM
Response to Original message

1. Goddamn.

That's almost a third of what we got on Monday.

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Curtland1015

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Wed Oct-15-08 09:23 AM
Response to Original message

2. This, of course, is all Obama's fault.

Or Bill Ayers. I forget.

:sarcasm:

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Jackpine Radical

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Wed Oct-15-08 09:23 AM
Response to Original message

3. They got a rubber cat they keep dropping,

Every time the market plunges precipitously, it rebounds to recover about half of what it lost.

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HughMoran

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Wed Oct-15-08 09:24 AM
Response to Original message

4. fuckin thanks fuck for fuckin reminding me fuck

I almost felt human again on Monday, now I feel like shit again :(

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endthewar

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Wed Oct-15-08 09:44 AM
Response to Reply #4

11. The stock market isn't really the problem for this economy

It's a credit crisis and also banks not lending to each other. You can use this graph to understand how the economy is doing. Until the line on this graph goes down, the economy will be on the path to collapse:

http://www.bloomberg.com/apps/cbuilder?ticker1=.TEDSP%3AIND

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HughMoran

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Wed Oct-15-08 09:52 AM
Response to Reply #11

15. So the $1xx,xxx I've lost so far has no effect on the economy?

Edited on Wed Oct-15-08 09:54 AM by HughMoran

You think I'm going to spend a dime now after losing that much money?

My kids college fund is gone.

:(

Edit: thanks for the link BTW :)

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endthewar

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Wed Oct-15-08 09:56 AM
Response to Reply #15

16. That's not what I was trying to say

The MSM has been focused exclusively on the stock market. The important thing is the graph in that link. As long as that line doesn't come down, it's not really safe to invest in the stock market. :hi:

P.S. Your kids will be so bright that they'll get academic scholarships. :hug:

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HughMoran

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Wed Oct-15-08 10:01 AM
Response to Reply #16

19. I understand what you were trying to say

I think the other person who responded pointing out that the economy is 72% consumer spending is where I'm coming from.

I am not so concerned about the technical indicators (though I find them interesting). Consumer confidence (of which I have none) is a major factor in the broader economy, not just stocks.

I hope my kids get a scholarship - this sucks.

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DemocratSinceBirth

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Wed Oct-15-08 09:56 AM
Response to Reply #15

17. I Think Consumer Spending Accounts For Seventy Two Percent Of The Economy

My best friend of twenty plus years is going to lose the $250.000.00 she and her husband invested in their small restaurant...

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HughMoran

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Wed Oct-15-08 10:03 AM
Response to Reply #17

20. That sucks

My coworker was telling me about a car dealership that the guy finally got the permits for and finished putting the final touches on recently - talk about a HUGE loss and REALLY bad timing. I'm glad I put off starting a business a couple years ago when I was thinking of doing that.

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lib2DaBone

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Wed Oct-15-08 09:26 AM
Response to Original message

5. The bank bailout WILL NOT WORK..no matter how many $$ they throw at it...

Let the chips fall, so the real healing can begin. Propping it all up only delays the inevitable!!

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Ichingcarpenter

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Wed Oct-15-08 09:27 AM
Response to Original message

6. Didn't Bush just speak again?

Anyway, Expect Huge Volatility and swings for the coming months

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scheming daemons

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Wed Oct-15-08 09:30 AM
Response to Original message

7. The bailout has nothing to do with the stock market.... look at the LIBOR rates... they're dropping

Which means that credit is starting to unfreeze.

This is a good thing.

The level of the DJIA has NOTHING to do with the bailout....nothing at all. The market goes up or down for MANY reasons.... the drop today is because of some earnings reports that came out plus the word that Bernanke is going to announce that we ARE in a recession today.

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TheCoxwain

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Wed Oct-15-08 09:37 AM
Response to Reply #7

8. You nailed it .. folks the LIBOR is key index to look at

Basically the cost of borrowing is going down ( at least among the banks ) --- which means there is more money available on the market ( which i guess was 0 until this package was passed) ... That "My Friends" is the purpose of the bailout plan.

Remember this is going to be painful -- we will still have a recession -- this bailout is designed to prevent a major depression..

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nolabels

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Wed Oct-15-08 09:50 AM
Response to Reply #8

14. My guess would be it's safe to assume NOTHING

This is the first time in history with so much of the worlds currencies being connected so closely with such a momentary volatile precipitous position. Anybody that knows how to bet would be betting that somebody is going to blink.

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DemocratSinceBirth

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Wed Oct-15-08 09:44 AM
Response to Reply #7

10. Yep-The Retail Sales Reports Were Horrible

The level of the DJIA has NOTHING to do with the bailout....nothing at all. The market goes up or down for MANY reasons.... the drop today is because of some earnings reports that came out plus the word that Bernanke is going to announce that we ARE in a recession today.

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workinclasszero

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Wed Oct-15-08 09:41 AM
Response to Original message

9. Me too

Over 100,000 people lost their jobs last month alone. Stores and restaurants are still shutting down. GM announced more plant closings...

Of course the wall street thieves are happy cause they got bailed out but the American people haven't gotten anything.

Only President Obama and a Democratic Congress will do that.

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Kurt_and_Hunter

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Wed Oct-15-08 09:44 AM
Response to Original message

12. There is always a re-test of lows. No "V" bottoms.

Edited on Wed Oct-15-08 09:46 AM by Kurt_and_Hunter

Even if everything was rosy (which it isn't) we would see a move back down.

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DemocratSinceBirth

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Wed Oct-15-08 09:47 AM
Response to Reply #12

13. The Market Has Been Sideways For Ten Years

You would have been better off in Treasury Bonds...

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Historic NY

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Wed Oct-15-08 09:56 AM
Response to Original message

18. 357.22

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