A 1,000 Point Drop On The Dow?

[WhipperSnapper]

Originally posted by: Skoorb
blackangst1 how can you say the trade deficit has nothing to do with commodities? That's like saying the economy has nothing to do with money. The trade deficit is the difference between imports and exports, as mentioned, and the US imports a hell of a lot of oil and therefore it is a major part of the trade deficit. This is probably covered in the first class of a highschool economics course; it's the most elementary definition of the trade deficit (and the only one I know about, but at least I have the basis correct ).

If Paul Craig Roberts's research is correct, the cost of the foreign oil isn't the primary driver of our trade deficit. Rather, it's "industrial supplies and materials". However, I wouldn't characterize it as a "small part" of our import bill as he does.

Americans worry about their dependency on imported energy, but the $145,368,000,000 paid to OPEC in 2006 is a small part of the total import bill. Americans imported $602,539,000,000 in industrial supplies and materials; $418,271,000,000 in capital goods; $256,660,000,000 in automotive vehicles, parts and engines; $423,973,000,000 in manufactured consumer goods; and $74,937,000,000 in foods, feeds and beverages.

http://www.vdare.com/roberts/080120_stimulus.htm

 

[Engineer]

Somebody isn't happy. Another 201 point drop on the open.

After a 267 point decline within minutes of the open, it has now rallied to being down 52 points. A bottom or simply a dead cat bounce? Time for a longer term rally, IMO.

 

[piasabird]

I was satching CNN last night and the Talking Money Heads kept talking about lowering taxes for corporations as a possible stimulus package.

I am against a stimulus package because I think it is a waste of money that we would have to borrow.

Dont worry they can just steal that from Social Security.

 

[Engineer]

Markets rallied, as expected (and hoped for) at the end of the day. Dow up 300 points and the Nasdaq up 1% (Apple hurt that one). Lets' see if this will follow through or just a dead cat bounce.

 

[blackangst1]

Originally posted by: WhipperSnapper

Originally posted by: Skoorb
blackangst1 how can you say the trade deficit has nothing to do with commodities? That's like saying the economy has nothing to do with money. The trade deficit is the difference between imports and exports, as mentioned, and the US imports a hell of a lot of oil and therefore it is a major part of the trade deficit. This is probably covered in the first class of a highschool economics course; it's the most elementary definition of the trade deficit (and the only one I know about, but at least I have the basis correct ).

If Paul Craig Roberts's research is correct, the cost of the foreign oil isn't the primary driver of our trade deficit. Rather, it's "industrial supplies and materials". However, I wouldn't characterize it as a "small part" of our import bill as he does.

Americans worry about their dependency on imported energy, but the $145,368,000,000 paid to OPEC in 2006 is a small part of the total import bill. Americans imported $602,539,000,000 in industrial supplies and materials; $418,271,000,000 in capital goods; $256,660,000,000 in automotive vehicles, parts and engines; $423,973,000,000 in manufactured consumer goods; and $74,937,000,000 in foods, feeds and beverages.

http://www.vdare.com/roberts/080120_stimulus.htm

Is 8% a large number to you? Sure isnt to me.

 

[OS]

Originally posted by: senseamp
Too bad I sold SRS at 130

nooo, you did fine

<-still holding at 106 today :X