DOW plunges 735 points. Worst week since March 2003. Signs the war in Iraq is strangling the economy

Via "Mugsy's Rap Sheet":



Read the full story on "Mugsy's Rap Sheet".

:kick:

Rinse, repeat
Rinse, repeat

The insurgency is in its final throes!

And the Constitution is in it's final throes.

:dem: :kick: :kick:

class...

I wonder how many collect Social Security.

US TREASURY Secretary Henry Paulson said the drop in global sharemarkets on Thursday and Friday was a case of volatility in financial markets that is always present.

"We're always going to have volatility," Mr Paulson said in a television interview. "What we see going on right now is risk being repriced and, as we get a broad reassessment of risk, we're getting volatility."

....

As Treasury Secretary, Mr Paulson chairs the interagency President's Working Group on Financial Markets that monitors market conditions. There was no indication it had met on Thursday but Mr Paulson, a Wall Street veteran, turned aside a question whether he feared a "credit crunch" might develop.

...
http://www.theage.com.au/news/business/treasury-head-says-volatility-not-new/2007/07/27/1185339259969.html

...if my reasoning for the plunge is correct, we haven't seen the end of it yet.

I fully expect the bulk of that baseless 1,700 gain to be wiped out by early to mid-August.

--Nortius Maximus, Pompeii, A.D. 78

I firmly believe this is a 911 economy, jobs created that produce war toys, yes housing boom and all of that, well it's like a big bubble, now people have their homes and mortgage's which they have pulled out all equity in them, the war will be ending so no more war toys, oh yes and the government borrowed all this money to make this economy roll...so unlike the dot.com bubble which the government was not invested in the government is totally vested in this economy and its all on borrowed money. so the government has to figure out a way to keep this machine running and of course war is the only way to do this and lower taxes is just not gonna cut it. blessings

War spending is the only reason we are not in a recession.

The full pain of this irresponsible, criminal misadministration will be felt after Bush leaves office and he knows it.

he's utterly delusional.

hours, making less pay, with less & less benefits...(if they haven't already been taken away). No unions to support the workers rights, jobs shipped abroad so the CEO can make even more money and people forced to work non union jobs by the tens of million and the corporates say shut the fuck up and take what we give you, or we'll just find someone who'll work for even less....

This is very clear republican philosophy & ideology, the asshole Reagan really got it started, and we all see what 12 years of a republican congress gave us and now BushCo has fully bored out what the republican true intentions have always been all along, showing us exactly what republican ideology is all about...as if we didn't already know, busting up unions, wars for corporate profit...

Corporates get all the government help, welfare, (subsidies is what republicans call them) over people and workers who get nothing from the government for their tax dollars but a military fighting for more corporate profit and imperialism...This has been the republican agenda all along, republican ideology is a sick ideology based on more for the wealthy and we are all just slaves who deserve nothing.

This is what republican ideology really is they've lied for years pretending to care about the people, whom they really despise because we aren't rich, pretending to have democratic ideals for people, next on the republican hit list is Social Security...How many republicans have collected & enjoyed SS benefits?...Republican ideology - and people actually vote for these republican pigs, and will again for some bullshit non issue like guns or gay marriage...

WOULD YOU EVER VOTE FOR A REPUBLICAN? I find it UN-FUCKING-BELIEVABLE that people who work for a living actually do!

that didn't involve rich people getting more money?

I also see that the problem isnt only on one side, why do you think the Republicans get away with what they do? Is it Democrats are soft and afraid they will lose their support? Why would they lose support for stopping whats been happening, they would gain our support. But hey, we dont have the financial support like the the corporations do. I am voting Democrat because I think thats where the best opportunity is for change but I will never look away from their wrong doings because that will just put us in the same situation.

We have the Supreme Court to thank for this goddamn mess.

That and ignorant fuckers who think an AWOL fake cowboy is "tough" but a guy with a Silver Star is a wimp.

Yeah, if you're a stock swindler or an oil company executive! :eyes:

leave willingly once his term is up.

He'll be able to ensure we're okay, as long as he doesn't do anything dumb with it.

... that has the investors now nervous about what's down the road, and makes it harder and harder to find lenders to allow capital to be raised to make these big buyouts, etc.

Why do we have this credit crunch? Because we are putting more money into the hands of fewer people, and more of the rest of the economy is borrowed to the hilt to make ends meet. If we had more even distribution of wealth, this credit crunch wouldn't be happening.

These neocon supply siders we have in power kept thinking they could shelter their efforts of screwing the poor and the middle class by still pointing to a stock market that's rising, by making sure that corporate America had its wishes served, but its now showing that even the stock market can't be kept sheltered from the vanishing middle class in this country and the falling dollar. It IS time to bring back the 70% top marginal tax rate, and get out of NAFTA/CAFTA/GATT so that we can get back to building up a decent working middle class in this country!

doubt many remember it, but 41 had a similar collapse and it was spun by the media as a "normal correction" long enough to get out of the quarter and start the clock again.

That time the economy was preserved (such as it was) by the digital/personal computing revolution, what do we have now to save our asses?

we are sitting on house of cards built on a mountain of debt. It is no exaggeration to say the basis of the economy in the 2000's is debt and that is no way to run a country. I have money in the stock market that I would rather not lose, but it will be worth it if we are forced to implement economic principles that make sense. Of course the Republiclowns will probably convince everyone that the problem is gay flag-burners playing violent video games - that or the estate tax.

It will be blamed on the minimum wage hike.Rich people resent having to pay for their privilege you know.There is no"invisible hand only a huge ponzi scam.

Most of my co-workers have a hard time justifying $4.00 for a galllon of milk.Big f'ing deal.

Something like this happened in 1929 and many people not in the market were hurt.

At a minimum, more people will be unemployed. If it's real bad, another Great Depression.

So I'd say it applies. Big time.

This is REALITY folks. Not the BULLSHIT that the Corporate WHORE Media tells you.

Be secure in your finances, because if things begin to unravel, you want to have a life jacket and safety net handy.