Dow plummeting towards 11,000

[Vic]

Originally posted by: Common Courtesy
Why not blame Congress for either backing Bush or not having the gonads in two years to do what they were promissing.

It is more than the President that controls economic policy.
And he does not control the stock market.


But that does not matter - as long as you can bash Bush

The seeds of the current economic situation are a lot deeper than just 2 years old.

Originally posted by: CycloWizard
I always thought that the legislative branch was responsible for the budget, economic planning, and so on. I also thought that the D's are running that show now. So remind me again: how does this have anything to do with the president?

The President does the economic planning and frames the budget, while Congress studies and votes upon the proposals.

Just because techs is a hack doesn't mean you both need to be too.
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation, albeit amidst countless other factors.

 

[Fern]

Originally posted by: Skoorb

Originally posted by: Fern
No, it can't have anything to do with the ridiculously high price of oil/gas.

Nope, nothing at all. :roll:

Fern

Of course, the US' policies cannot possibly have anything to do with us paying $140/barrel, can they? No influence on speculative fears, no influence on the toilet-paper dollar....

Re-read his posts. He's blaming a long ago enacted tax cut. Not any foreign policy possibly resulting in higer oil prices. And Iraq's production is at pre-invasion levels anyway.

Fern

 

[Vic]

$ 9 , 3 7 2 , 3 0 1 , 6 3 7 , 9 9 0 . 7 4

 

[cliftonite]

Originally posted by: Common Courtesy
Why not blame Congress for either backing Bush or not having the gonads in two years to do what they were promissing.

It is more than the President that controls economic policy.
And he does not control the stock market.


But that does not matter - as long as you can bash Bush

Why does the Congress only get blamed for the past 2 years? Congress has existed for longer than that right?


But that does not matter - as long as you can bash the tiny majority Democrat Congress.

 

[Fern]

Originally posted by: Vic
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation....
-snip-

So the US federal government's deficit is now driving down individual company's stock prices?

And the market just now suddenly today became aware of this fed deficit spending problem?

I think it something else.

Fern

 

[Jaskalas]

Originally posted by: Vic
$ 9 , 3 7 2 , 3 0 1 , 6 3 7 , 9 9 0 . 7 4

It was $9 trillion last year, correct?

In the past seven months we have spent over $600 billion to "save the economy" and you're telling me it's still only $9 trillion?

 

[Vic]

Originally posted by: Fern

Originally posted by: Vic
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation....
-snip-

So the US federal government's deficit is now driving down individual company's stock prices?

And the market just now suddenly today became aware of this fed deficit spending problem?

I think it something else.

Fern

Who said it was a 'today' thing except you? And where did I say that the deficit is the only factor? WTF.

 

[Vic]

Originally posted by: Jaskalas

Originally posted by: Vic
$ 9 , 3 7 2 , 3 0 1 , 6 3 7 , 9 9 0 . 7 4

It was $9 trillion last year, correct?

In the past seven months we have spent over $600 billion to "save the economy" and you're telling me it's still only $9 trillion?

You realize that's not my website, right? If you have a better source, post it.

 

[dmcowen674]

Originally posted by: Common Courtesy
Why not blame Congress for either backing Bush or not having the gonads in two years to do what they were promissing.

It is more than the President that controls economic policy.
And he does not control the stock market.


But that does not matter - as long as you can bash Bush

Originally posted by: CycloWizard
I always thought that the legislative branch was responsible for the budget, economic planning, and so on. I also thought that the D's are running that show now. So remind me again: how does this have anything to do with the president?

Talk about lack of taking responsibility.

You guys had 100% full control and yet still blame the Democrats.

Wow just wow

 

[cliftonite]

Originally posted by: CycloWizard
I always thought that the legislative branch was responsible for the budget, economic planning, and so on. I also thought that the D's are running that show now. So remind me again: how does this have anything to do with the president?

And I always thought the president had to approve all of the above?

 

[wwswimming]

Originally posted by: techs
So the Dow closed today at 11,453. Seems like it just closed at 11,497. Oh, wait, that was almost NINE YEARS AGO.
Despite the fact that this year we have the LARGEST tax cut in our history, we now have had NO increase in the Dow in almost NINE years.
Well, that's what happens when you have huge tax cuts instead of tax policy.
I guess the rich didn't invest in new factories and jobs in America.

actually the bubbleChimp can be blamed for a lot of things,
but i don't know if he can be blamed for this.

though smarter management would be to have some massive
mass transit & sustainable energy programs in place, growing,
being implemented. probably Obama will do this & not leave it
all up to to T. Boone and the Pickeners.

with Bush you don't have the feeling there's a stable hand on
the wheel. he could try and offer some re-assuring words, Bush-style
using Bush-Speak, and the market will drop another 10%.

it will be a nervous weekend with people wondering what the
market will do Monday.

 

[Fern]

Originally posted by: Vic

Originally posted by: Fern

Originally posted by: Vic
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation....
-snip-

So the US federal government's deficit is now driving down individual company's stock prices?

And the market just now suddenly today became aware of this fed deficit spending problem?

I think it something else.

Fern

Who said it was a 'today' thing except you? And where did I say that the deficit is the only factor? WTF.

Where did I say that you said it was the only factor?

and

Originally posted by: techs
So the Dow closed today at 11,453.
-snip-

Fern

 

[Vic]

Deficit spending contributes to economic inflation. Unchecked inflation leads to recession. Recession weakens stocks.

This is not the only factor, but it is there. Just like this is hardly just the government's fault and it's been a lot longer than just 2 years in the making.

Remember all those good years when McChicken was screaming that the sky is falling? Yeah well, even a broken clock is right twice each day.

 

[maddogchen]

there was no toilet paper in the men's restroom stall today. Damn you Bush, Damn you! Thanks for nothing.

 

[AndrewR]

Originally posted by: Vic

Originally posted by: Fern

Originally posted by: Vic
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation....
-snip-

So the US federal government's deficit is now driving down individual company's stock prices?

And the market just now suddenly today became aware of this fed deficit spending problem?

I think it something else.

Fern

Who said it was a 'today' thing except you? And where did I say that the deficit is the only factor? WTF.

Did you read the OP, or did you just jump in head first without looking?

 

[Vic]

Originally posted by: maddogchen
there was no toilet paper in the men's restroom stall today. Damn you Bush, Damn you! Thanks for nothing.

But what if everything else was the same... and Gore had won the White House in 2000 and been re-elected in 2004? What would your tune be then?

C'mon, I was around during the Clinton days. Bad as BDS is, even Harvey on PMS doesn't hold a candle to the rabid Clinton derangement syndrome of the '90s. If that all were to be believed, he personally killed 100 political rivals with his bare hands while talking to Arafat on the phone in the White House with Monica's lips super-glued to his dick.

 

[wwswimming]

isn't there some way we could deny this guy his pension ? do you
feel like paying taxes so he can do his version of retired (idiot
pyschopath) President ?

maybe he'll just fish for the rest of his life and not make any more
huge messes.

and maybe Sunday morning he will attack Iran. the Dow will not like
that, if it happens.

 

[Vic]

Originally posted by: AndrewR

Originally posted by: Vic

Originally posted by: Fern

Originally posted by: Vic
However, his argument of deficit spending is correct in that this was probably the single most important factor playing into the current situation....
-snip-

So the US federal government's deficit is now driving down individual company's stock prices?

And the market just now suddenly today became aware of this fed deficit spending problem?

I think it something else.

Fern

Who said it was a 'today' thing except you? And where did I say that the deficit is the only factor? WTF.

Did you read the OP, or did you just jump in head first without looking?

Yeah, I did. He clearly said NINE YEARS and referenced 7 year old policy.

The OP's mistake IMO was stressing the tax cuts when IMO it was the record spending increases that really got us in trouble.

The saddest thing for the Republican faithful after the Bush admin is that the borrow and spend policy they supported means that our taxes are going up regardless of who is elected and even if we do cut spending. Fsck, we'll be lucky if the world banks don't force us on an austerity plan.
So yeah, thanks for nothing.

 

[gsaldivar]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy
Why not blame Congress for either backing Bush or not having the gonads in two years to do what they were promissing.

It is more than the President that controls economic policy.
And he does not control the stock market.


But that does not matter - as long as you can bash Bush

Originally posted by: CycloWizard
I always thought that the legislative branch was responsible for the budget, economic planning, and so on. I also thought that the D's are running that show now. So remind me again: how does this have anything to do with the president?

Talk about lack of taking responsibility.

You guys had 100% full control and yet still blame the Democrats.

Wow just wow

Out of retirement already Dave?

Somehow, I knew you couldn't resist coming back for the election-year...

 

[HeXploiT]

Originally posted by: GTaudiophile
I just asked my friend what he would do to fix things...

start cutting taxes left and right - the only way to grow without inflation is from innovations so you have to reduce the cost of development. Also would cut government spending because of course inflation is just a hidden tax. The first place where spending would get cut would be in Iraq of course - ie, bring troops home within one month and not drop another dime there. Second place would be "drug" war. Then, we would legalize competing currencies so Fed Reserve mistakes have less of an impact on the market. Now, there is no avoiding a market correction - if there is a bubble, it has to deflate one way or another. But these are all steps that would increase long term growth and reduce the risk of the next bubble occurring. Remember, the vast majority of the increase in the price of oil has been caused by the fall of the dollar, not a rise in the value of oil.

Inflation is one of the largest taxes. I heard that Ron Paul said the other day that during the Bush administration the fed has expanded the money supply(printed) $6,000,0000,000,000.00(six Trillion) dollars!
I don't care how one does the math that is like taking thousands of dollars out of your pocket and mine. I'll pay my taxes dangit just give me back my cheap rice & beans! Never gonna be cheap again.

 

[Engineer]

Originally posted by: Perry404

Originally posted by: GTaudiophile
I just asked my friend what he would do to fix things...

start cutting taxes left and right - the only way to grow without inflation is from innovations so you have to reduce the cost of development. Also would cut government spending because of course inflation is just a hidden tax. The first place where spending would get cut would be in Iraq of course - ie, bring troops home within one month and not drop another dime there. Second place would be "drug" war. Then, we would legalize competing currencies so Fed Reserve mistakes have less of an impact on the market. Now, there is no avoiding a market correction - if there is a bubble, it has to deflate one way or another. But these are all steps that would increase long term growth and reduce the risk of the next bubble occurring. Remember, the vast majority of the increase in the price of oil has been caused by the fall of the dollar, not a rise in the value of oil.

Inflation is one of the largest taxes. I heard that Ron Paul said the other day that during the Bush administration the fed has expanded the money supply(printed) $6,000,0000,000,000.00(six Trillion) dollars!
I don't care how one does the math that is like taking thousands of dollars out of your pocket and mine. I'll pay my taxes dangit just give me back my cheap rice & beans! Never gonna be cheap again.

The average US worker is in nearly a decade long decline in wages vs inflation...and one has to wonder why...(not)...:roll:

 

[JS80]

Citigroup bankruptcy within 1.5 years. Mark this post.

 

[Capitalizt]

Buy gold.
Buy silver (especially).

Sleep tight.

 

[PingSpike]

I couldn't give a real fuck about the dow. Now, the fed flooding the economy with toilet paper dollars just after I started to make a passable salary...thus turning my passable salary back to crap...thats I care about. You can't get out of the grocery for less then $100 anymore it seems, and if I want some one to come look at something at my house they all want $120 and a fuel surcharge. But hey, I don't need to eat food. Or drive a car. Or have running water from fixing my well pump. We'll just strip those out of the official inflation numbers because they're too "volatile" (this is another word for steadily and politically inconveniently going up) and say everything is right as rain.

Good old inflation...its a nice big fuck you to us all.

 

[First]

Originally posted by: Deeko
WE BETTER SWITCH TO THE GOLD STANDARD OR WE WILL BE LIVING IN CARDBOARD BOXES AND EATING GRUBS WITHIN HOURS!!!!

rofl.