Dow Nears Lowest Level in a Decade »
Posted By TechnologyExpert 9 months, 2 weeks ago in Business & FinanceA global wave of selling from Hong Kong to Stockholm to London battered financial markets on Tuesday, sending shares sharply lower on Wall Street. The major indexes were down about 3 percent as investors worried about how banks, automakers and entire countries would fare in a deepening recession.
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nostalgia9 months, 2 weeks ago
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Gee the markets have no confidence in the Obama stimulus package??
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The markets don't think the boy wonder, Geitner, is going to save the financial system and stop foreclosures?
The markets don't think the committee being set up by Obama to oversee the auto industry is going to get results?
Someone needs to send some of that Obama Kool Aid to Wall St-
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GLee9 months, 2 weeks ago
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This, my friend, is when the spiral began. The Community Reinvestment Act of 1977. Don't fool yourself by not looking back quite far enough.
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http://en.wikipedia.org/wiki/Community_Reinvestmen...
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dBergeron9 months, 2 weeks ago
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The market has reacted negatively since the election. Investors are not only concerned about the bailout and stimulus, but also capital gains tax increases. It seems that Obama is not concerned with the market's performance. Most of this was predicted by many financial experts who were not consulted before any of this economic re-structuring was unleashed. It does not take a rocket scientist to draw this conclusion. And for the excuse that this was created by Bush, that's bull shiite. The market did quite well under Bush. Even up until the end, the market was still performing in a positive direction. This was even with the drag of many financial firms pulling it down.
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ybdogsct9 months, 2 weeks ago
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DBERGERON:
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And for the excuse that this was created by Bush, that's bull shiite. The market did quite well under Bush. Even up until the end, the market was still performing in a positive direction.
What metric are you using?
DOW JONES INDUSTRIAL AVERAGE
http://moneycentral.msn.com/detail/stock_quote?ipa...
Clinton Enters Office: 3,241.96
Clinton Leaves Office: 10,587.59
Change Under Clinton: +227%
GW Bush Enters Office: 10,587.59
GW Bush Leaves Office: 7,949.09
Change Under Bush: -25%
FEDERAL DEBT
http://www.treasurydirect.gov/NP/BPDLogin?applicat...
http://www.brillig.com/debt_clock/
Clinton Enters Office: 4,188,092,107,183.60
Clinton Leaves Office: 5,727,776,738,304.64
Change Under Clinton: +37%
GW Bush Enters Office: 5,727,776,738,304.64
GW Bush Leaves Office: 10,626,877,048,913.08
Change Under Bush: +86%
UNEMPLOYMENT
http://www.economagic.com/em-cgi/data.exe/feddal/r...
Clinton Enters Office: 7.3%
Clinton Leaves Office: 4.2%
Change Under Clinton: -3.1%
GW Bush Enters Office: 4.2%
GW Bush Leaves Office: 7.6%
Change Under Bush: +3.4%
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canadianrancher579 months, 2 weeks ago
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So the stock market is tanking, well maybe it was just another thing that was overpriced. It seems society places much value on these pieces of paper that can be traded and make one rich with out really much connection with the business but more of a connection to the economy. There seem to have been quite a few of these bubbles in the last 8-9 years and this is likely just another. My grandfather worked until he was 92 and was very well to do and never owned any stocks but believed in the idea that production made wealth, which seems to have been forgotten by many people today.
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flyonthewallzz9 months, 2 weeks ago
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http://www.gpoaccess.gov/eop/2008/B95.xls
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Folks may not be interested in looking at spreadsheets.
This one offers some interesting empirical evidence.
It kind of proves the law of supply and demand.
When the DOW goes down earnings per share and dividends tend to go up.
It takes merging data that I do not time to point to now , but it also appears that cuts in the top income tax and capitol gains tax also reduce the earnings per share and dividend values.
There are anomalies and they seem to coincide with energy cost fluctuations.
This economic situation is global, it is far easier for me to peg it to energy and war spending, than home loans in this country.-
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canadianrancher579 months, 2 weeks ago
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Interesting numbers , and I was wondering by your comment on incometax and capital gains do you mean that those who have surplus income buy stocks and this leads to the reduction in dividend which is more business driven.
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I agree that this is a global problem but I wonder if it ihas not been caused by just a surplus of production by the emergence of so many new players in the last few decades.
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cspezial9 months, 2 weeks ago
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I read yesterday that GM and Chrysler, while asking for a second round of government loans, are at the same time planning on idling more plants in the US. No matter what side of the aisle you're on politically, and no matter if you agree with bailouts, "stimulus plans", and government loans, I hope we can all agree that the only way we can become prosperous is to actually produce goods here in the US. There was a time, not too long ago, that the US not only produced it's own goods, but actually exported goods. Not services, but actual goods. We need to bring back the steel industry, the consumer goods industry, the electronics industry, to name a few. Is it protectionism? Yes. We elect our president to protect us, and I think he should do just that. I may take some heat for this view, I guess, but at the end of the day, I can not see how we can be a profitable country if no one, including ourselves, it seems, buy goods that are Made in the USA. Tacitly, while the new administration has not come right our and admitted this, they have hinted at it, by saying for example that the auto industry is crucial to national security (which of course it is). Does it bother anyone that our new president campaigned on the platform that he will "create 3 million new jobs", but now his plan is to "create or conserve 3 million new jobs"? Where did the conserve come from? How will he know if he is successful? Lastly, does it bother anyone (other than me...) that the President of Mexico comes to the US to campaign? Why would another country's leader come to OUR country to campaign for his job? I have some thoughts on the matter... At the end of the day, folks, I think we are in for a rough ride unless something substantial can be done. I can tell you this - a company, with our debt, and our cost over runs (budget deficits), would have had to file for Chapter II long ago - the only thing keeping us afloat is the willingness of foreign countries, for whatever reason, to purchase our debt (and the lack of a gold standard allowing us to print new money when we need it helps...). At some point they will stop doing that. Flame away...
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