Market Down, Again

[a777pilot]

The world stock markets are down again. Anyone want to bet on what the US jobs report has to say tomorrow? Didn't think so.

I hope the President made tons of campaign money on his birthday. He will need it. I hope he is still skimming off 5% for his personal account as is the nature of Chicago politicians. He'll need it in his retirement.

 

[Fear No Evil]

Imagine what the jobs WOULD have been like if Obama had not saved us. :whiste:

 

[PeshakJang]

I hear they have ice cream in Petrograd

 

[her209]

The world stock markets are down again.

Due to Europe.

 

[spidey07]

Imagine what the jobs WOULD have been like if Obama had not saved us. :whiste:

If it weren't for those tea party terrorists holding him back since he's been elected...

 

[her209]

If it weren't for those tea party terrorists holding him back since he's been elected...

Teahadists

 

[Thump553]

The unemployment report that came out this morning was (slightly) better than expected.

Market down today because of statement from central European bank about liquidity there.

I always poo-pooed talk about a double dip recession, but frankly the teabag stunts this year in Congress seem destined to drive us into the ditch again. I mean, obessessing about long term spending issues in the midst of a weak recovery? And the latest stunt-shutting down the FAA and throwing 74,000+ out of work in order to pass a union busting rule in the airline industry? Just who are those clowns working for, anyway? Bin Laden wasn't anywhere near as damaging to the US as they are.

 

[HomerJS]

Imagine what the jobs WOULD have been like if Obama had not saved us. :whiste:

Let's just go back to losing almost 800K jobs/month when Obama took office. I'm sure that would make you feel good.

 

[Fear No Evil]

The unemployment report that came out this morning was (slightly) better than expected.

Market down today because of statement from central European bank about liquidity there.

I always poo-pooed talk about a double dip recession, but frankly the teabag stunts this year in Congress seem destined to drive us into the ditch again. I mean, obessessing about long term spending issues in the midst of a weak recovery? And the latest stunt-shutting down the FAA and throwing 74,000+ out of work in order to pass a union busting rule in the airline industry? Just who are those clowns working for, anyway? Bin Laden wasn't anywhere near as damaging to the US as they are.

Are Obama and the Dumbocrats responsible for ANYTHING? If we are just going to blame the Republicans for everything perhaps the Dems should just resign? The most intelligent President to ever serve and hold office is unable to convince the public that its the R's causing the issue? Not only that, he couldn't convince the American people but they wildly swung from pro-Dem to pro-Rep is the last election.

 

[bart1975]

I enjoy reading marketwatch, they use cute terms like bear and bull and it make me giggle. It is also amusing to watch them use the term rally whenever something is up 10 or so points.

 

[MomentsofSanity]

The unemployment report that came out this morning was (slightly) better than expected.

Market down today because of statement from central European bank about liquidity there.

I always poo-pooed talk about a double dip recession, but frankly the teabag stunts this year in Congress seem destined to drive us into the ditch again. I mean, obessessing about long term spending issues in the midst of a weak recovery? And the latest stunt-shutting down the FAA and throwing 74,000+ out of work in order to pass a union busting rule in the airline industry? Just who are those clowns working for, anyway? Bin Laden wasn't anywhere near as damaging to the US as they are.

Now that's just inviting those on the right to come in and tout how the GOP Congress passed a bill but it stalled in the Senate. This will of course ignore the fact it is a heavily partisan bill and, like the debt ceiling, tacks major modifications where all 20 previous FAA funding extensions were passed without any problem at all.

As for the passed bill it attempts to end subsidies to some smaller airports which in a lot of cases is a great thing. Some of the per ticket subsidies are more expensive than if you rented a limo for each person and drove them to their destination. It also attempts to limit measures that would make it easier for airlines to be unioned with heavy focus on Delta.

 

[Fear No Evil]

Let's just go back to losing almost 800K jobs/month when Obama took office. I'm sure that would make you feel good.

What would make me feel good is if this President would LEAD instead of giving campaign speeches. Convince the American people his way is the better way. He hasn't done that. As a matter of fact he's failed MISERABLY with that message. Bush the Chimp is able to convince a massive # of Democrats to go to war in Afghanistan and Iraq but Obama can't convince ONE Republican to go along with him?

He had no plan for this recent debt ceiling crisis. Hell, he can't even get his party to pass a budget for YEARS. He can't even close Gitmo!

 

[BurnItDwn]

China and India still have lower standards of living than we have in the USA, there has not been any major trade reform, there hasn't been any major tax reform to encourage businesses to open factories in the USA. So, of course the economy is going to continue to go down the tubes.

While the stock market may have had some pretty significant reprieves, unemployment is still extremely horrible.

The only solution is either some serious protectionist policies, or to work very very hard to improve the quality of life in India and China, bring up their wages, so that there is no longer an overabundance of cheap labor.

 

[BeauJangles]

Why are we talking about American politics, the Dow's problems right now (today and yesterday) are much more about the looming European financial meltdown than anything that's been going on here in the US. The fact that Italy is about to implode certainly isn't bolstering the international economic outlook.

 

[EagleKeeper]

The world stock markets are down again.

Due to Europe.

Or the possibility that the Deficit agreement is still a bunch of smoke & mirrors.

Unemployment claims was worse than ever according to the reports that I heard

 

[Genx87]

The unemployment report that came out this morning was (slightly) better than expected.

Market down today because of statement from central European bank about liquidity there.

I always poo-pooed talk about a double dip recession, but frankly the teabag stunts this year in Congress seem destined to drive us into the ditch again. I mean, obessessing about long term spending issues in the midst of a weak recovery? And the latest stunt-shutting down the FAA and throwing 74,000+ out of work in order to pass a union busting rule in the airline industry? Just who are those clowns working for, anyway? Bin Laden wasn't anywhere near as damaging to the US as they are.

We were going in the ditch again regardless of the tea party stunts. Higher fuel costs + stimulus money running out. Of course now the idea will be to pass more stimulus packages to keep the meager effect it had on the economy going while destroying our already shitty long term outlook for short term election gains in 2012.

 

[Genx87]

Or the possibility that the Deficit agreement is still a bunch of smoke & mirrors.

Unemployment claims was worse than ever according to the reports that I heard

Yup, the financial markets are also weighing in the US not really addressing our long term debt issues.

 

[her209]

Or the possibility that the Deficit agreement is still a bunch of smoke & mirrors.

That already happened on Tuesday.

 

[BeauJangles]

Yup, the financial markets are also weighing in the US not really addressing our long term debt issues.

Markets have short memories. The US debt deal sucks, but they're a LOT more concerned right now with the instability within the Euro Zone. Compared to them, the US economy looks like a safe bet.

 

[Macamus Prime]

Anyone want to bet on what the US jobs report has to say tomorrow?

It's OK! America's wealthy will save us all!! They will create jobs for America!

 

[BansheeX]

DOW keeps tanking in real terms, was 45-to-1 with gold in 2000, now only 7-to-1 with gold. May get to 1-1 again like in 1980.

 

[spidey07]

DOW keeps tanking in real terms, was 45-to-1 with gold in 2000, now only 7-to-1 with gold. May get to 1-1 again like in 1980.

I'm getting ready to make another big purchase on silver to have in hand. I just don't see the dollar getting any better as long as Obama is in office.

 

[KGB]

I'm getting ready to make another big purchase on silver to have in hand. I just don't see the dollar getting any better as long as Obama is in office.

Getting all your fillings re-done?

 

[Bitek]

Yup, the financial markets are also weighing in the US not really addressing our long term debt issues.

Markets have short memories. The US debt deal sucks, but they're a LOT more concerned right now with the instability within the Euro Zone. Compared to them, the US economy looks like a safe bet.

Yeah, the debt deal was a distraction from the rot we've been seeing since May/June. Best we can hope for now is some pos. surprise in the job numbers, but the trend is bad.

If the market was freaking out about US debt, we wouldn't see 10yr Treasuries tanking to >2.5% yield. OTOH, Italy's bonds are exploding.

That is what it looks like when the market worries about your ability to sustain and pay your debt. Europe is so F'kd.

And the ECB was just raising % rates a couple months ago. This is also a lesson of why the gold standard is a bad idea. Italy doesn't control its currency, Greece doesn't control its currency, Ireland doesn't control its currency. They are on a defacto gold standard of the Euro whose value is externally controlled and whose policy is geared toward Germany and the creditors. Fuck.

Glad I sold out much of my 401k in the mystery rally we had in July. Wish I had moved more investments out... Hopefully panic reverses soon.

 

[Bitek]

BTW, who cares about Obama and 2012? This is bad for everyone, everyone goes down with the ship. This is happening in Boehner's/TP's watch too.

Perhaps the partisans and DC should start taking a hard look at what the problem is and how to fix it rather than just overly blame the other side and fk'em over one step greater. Maybe discard the ideology for a minute and take a objective view of what works, what hasn't and what really needs to happen. I put the chance of this at <1&#37; right now.