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 What Goes Up ... Dow Plummets 733Posted on Oct 15, 2008
It seems like only a couple of days ago that the Dow jumped 936 points. The market went back to freaking everyone out on Wednesday, with a sobering drop of 733.08 points. Stimuli and bailouts aside, it appears that we’re in for a substantial recession.
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The Man Who Put the Rainbow in ‘The Wizard of Oz’
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By Stephen Smoliar, October 16, 2008 at 5:21 pm #
Leisure Suit Larry, you should be writing Bushie’s speeches (and I do not mean that pejoratively)! There are many good reasons to council fastening your seat belt and riding out the storm, and most of those reasons can probably be laid out in words of one syllable. Unfortunately, our President does not want to address the American people in these terms. As I recently wrote, he cannot get beyond treating the American public like scared children, rather than taking a more adult stance similar to yours:
http://therehearsalstudio.blogspot.com/2008/10/pesidential-mouth-is-working-overtime.html
Of course Bush’s gambit is consistent with cultivating his culture of fear; and it is such a culture of fear that is most willing to embrace those faith-based solutions to which he still clings. Unfortunately, his capacity for denial is so great that he cannot accept that most of the country won’t buy that gambit any more:
http://therehearsalstudio.blogspot.com/2008/09/denial-presidency.html
Nevertheless, there are still plenty of folks who cannot fasten their seat belts, because they haven’t got a seat! We would like to believe that Obama will address their needs; but their situation is too critical to be told, “I’ll get back to you in a few months!” Someone needs to start leaning on Paulson to start throwing some of the coins in his big moneybag in the direction of Main Street:
http://therehearsalstudio.blogspot.com/2008/10/tweaking-system.html
Supposedly, this is the responsibility of the Congressional oversight built into the bill that finally got passed; but, this being a Federal election year, is anyone minding the Congressional store right now?
Report thisBy Leisure Suit Larry, October 16, 2008 at 3:39 pm #
(Unregistered commenter)
A joke no? I heard very little complaining about the capitalist system when the Dow went from 3,000+ to 11,000+. Those who “lost” during the nineties had their voices drowned out by the gleeful slot-pullers who were winning on every quarter. No one complains the game is rigged when they win every hand. So now the stocks have declined making it a GREAT time to buy (Hint Do some research, Clorex will not stay below $60, Exxon Mobil is an excellent deal at $61, and the ‘credit crunch” won’t last forever.)
Real estate must improve (we’re adding 2 to 10 Million people a year to the US population)
The food indrustry won’t go belly up, people must eat,
fast food might not be a good bet short term, but the generation raised by Ronald and the King probably won’t start eating rice as a staple.
Come on people, stop letting the fear mongers run you.
Report thisBy walldizo, October 16, 2008 at 6:56 am #
(Unregistered commenter)
It has been said that systems be it political or economical,must at a certain point, evolve to allow humanity ability to trnscend into levels where more justice fairness and reasonable distribution of wealth is attainable.To think that Capitalism will continue unchanged under current turbulances,would be like praying for Ben Laden to surrender to MCcain.Of course we have to wait for the dust to settle down before passing judgment.Observing intellectually however, one could tell by the Administation’s appeasments of the corporations which should rather be held accountable for the present crisis, and the turning of blind eyes to the $Billions illigally transfered to Israel, that all are the augury for bad times to come.Americans are about to become the victim of this cleaverly weavon scheme.
Report thisBy PatrickHenry, October 16, 2008 at 6:39 am #
Asset seizure.
I’m sure there are alot of hedge fund managers and others, who by virtue of unscrupulous practices, insider trading and unethical business methods, have hundreds of millions off shored while living an opulant lifestyle on the backs of retirees.
Lets get them, for they are the true terrorists.
Report thisBy Stephen Smoliar, October 15, 2008 at 7:50 pm #
I’m with Masatoshi Sato, a broker at Japan’s Mizuho Investors Securities, reported by Al Jazeera English as saying “Attention has now shifted to the real economy!”
http://therehearsalstudio.blogspot.com/2008/10/attention-has-now-shifted-to-real.html
Report thisBy Wayne Ryerson, October 15, 2008 at 7:26 pm #
(Unregistered commenter)
Listen to Michael Hudson’s interview from today October 15th on Guns and Butter if you want to hear the clear unvarnished truth.
Report thishttp://www.kpfa.org/archives/index.php?arch=28908
By Wayne Ryerson, October 15, 2008 at 7:24 pm #
(Unregistered commenter)
Listen to Michael Hudson’s interview from today October 15th on Guns and Butter if you want to hear the clear unvarnished truth.
Report thishttp://www.kpfa.org/archives/index.php?arch=28908
Also go to http://www.Michael-Hudson.com
By Fadel Abdallah, October 15, 2008 at 7:14 pm #
No bird of pray soars too high, but by the law of gravity as it soared must fall back to the ground!
Report this