Dow finishes under 500 points

[-=NYS=- C.O.]

OMFG Wall street !! Closed over 500 points under. Thats scary !

[Dual]

OMFG Wall street !! Closed over 500 points under. Thats scary !

look out for the jumpers!

[Hitman]

We are worst off then the great depression. It really is bad and its getting worse

[iceofworm]

yea quite a few of my friends and or there parents have been laid off - wall st is getin raped... what a time to be 26 and thinkin about a house.. fuck me.

[ZERO]

hey i have a great idea lets take all the money that they owe and then lone it from the Chinese and then pay them back with interest with more money that we do not have. We solved all of our previous problems that way and look the economy is just fine...


Oh and want a real indicator, oil FELL in price today. Yea think that over for a bit, it will come to you

[Mallissin]

The great depression was FAR WORSE, but we're still in the early stages of the current depression.

To put things into perspective, preceding the stock market crash in 1929, the Dow Jones increased in value by over 500% in five years to 381.17. The worst day in the market was 13% drop on the Monday after Black Thursday, when so many shares changed hands that the stock tickers couldn't keep up (prices were an hour and a half behind) causing a great deal of panic. Panic worsened when President Hoover over the next year and a half told everyone the government would not step in to help, tried to round up over half a million Mexicans to force back to Mexico and appointed three new Supreme Court justices that were heavily pro-big-business (and used their influence to make sure several very large companies got a big chunk of New Deal money). Over the course of three years following, the Dow Jones lost 86%.

Next large crashed was in 1937, where over a year building up to WWII when Japan invaded China, the Dow Jones lost 49%. Most of this loss is probably from foreign investors and US citizens preparing for the worst, which did indeed come when fighting erupted in Europe later and eventually became the first truly global conflict.

The next biggest crash was over almost two years during the seventies (1973-1974), where the Dow Jones lost 45% of it's value. Brought on by the elimination of the Gold Standard because President Nixon was spending too much money on Vietnam, chilling relations with the Soviets that caused the Yom Kippur War in the Middle East and the 1973 Oil Crisis, as well as the beginnings of the first modern impeached from the Watergate Hotel break-in June, 1972.

Then comes Black Monday in 1987, where the market lost 22.6% after the market nearly doubled in two years. Why the crash? America pissed off fellow G7 members with a hasty change to monetary policy, causing the Hong Kong stock market (which runs off US dollars) to collapse and the crashes moved westward with the sun. Also didn't help that President Reagan ordered the Navy to attack Iranian oil rigs that same morning. American and world-wide tensions had been building over the year proceeding after Reagan refused to acknowledge the growing AIDS epidemic, started the "War on Drugs", gave a disappointing speech after the Challenger disaster, got embroiled in fallout from the Iran-Contra affair, and lost the nomination of a racist, anti-abortionist to the Supreme Court.

Eight years ago, another stock market crash began in early January, 2000 until 2002 where the Dow lost 33%, which was exaggerated by (and perhaps overlooked because of) the September 11th attacks. In the same year, President Bush in his first term began hastily pushing through more than $1.2 trillion dollars of tax cuts (where 56% would go to the top 10% income bracket and reduce the top bracket's rate nearly 11%), completely reversed election stances on the environment and builds perhaps the most pro-big business cabinet of all time. He does so many controversial things in one year that had the attacks on September 11th not happened, and Americans didn't throw their support behind him to show solidarity, he would have dipped below the 50% approval mark in his first year, a first in US President history. Since the attacks, he's led the charge into two foreign wars, one extremely unpopular at home and abroad, and both nightmares not seen since Vietnam. He increased agricultural subsidies against agreements with the UN and World Bank, and failed to secure several key international trade talks.

The latest stock market crash began in early October, 2007, after President Bush began beating the war drums towards Iran after it bombed Kurdish villages in northern Iraq, Israel takes a harder stance against the Palestinian government and sends fighter planes into Syria, American bankruptcies increased by over 60% in a year and mortgage foreclosures begin to skyrocket. The snowball is still rolling and the only hope for Americans and the rest of the world seems to lie in the election of a new leader.

In all cases, an incompetent, idealistic Republican president is in charge and destroyed American and foreign confidence in our nation. The only other times the economy went to hell was during a world war (first in 1916-17, second in 1937-39), or a Presidential assassination (McKinley a Republican in 1901, but not JFK's in 1963).

Edit note: For some reason, I keep typing "Dow Jones" as "Down Jones". Hopefully this isn't some sort of subliminal messaging I picked up somewhere.

[ZERO]

I just want to point out "idealistic Republican" ie not necessarily conservative.

p.s. anyone one know where the conservatives actually went or did they die out along with the ideas of small gov and budgets.

[Mallissin]

I just want to point out "idealistic Republican" ie not necessarily conservative.

p.s. anyone one know where the conservatives actually went or did they die out along with the ideas of small gov and budgets.

Agreed, but keep in mind that the label when it originated meant something entirely different. Back in Teddy Roosevelt's day, a conservative would be considered a moderate today. A progressive back then was like a liberal, and a liberal was more like today's conservatives. By the time of Nixon, a progressive was what we'd consider a conservative today, a conservative was a Roosevelt liberal and a liberal was like today's moderate. Take the same terms over to Europe today, and they all mean different things too. The labels swap around over time as politicians abuse the terms and try to trick voters to pick them.

It's better to listen to the person's views and classify them more accurately than let them decide what they are themselves. If they don't share their views, you shouldn't vote for them, and repeating a party line isn't sharing a personal view.

Meanwhile, Jim Jeffords is probably the closest thing to a Roosevelt conservative, and he went independent in 2001 because of Bush's EPA snafus. If he didn't break the control the GOP had over the House and Senate during the first Bush term, we'd probably be in deeper shit today. He is truly a hero.

[-=NYS=- C.O.]

I just want to point out "idealistic Republican" ie not necessarily conservative.

p.s. anyone one know where the conservatives actually went or did they die out along with the ideas of small gov and budgets.

Hmm I haven't seen any since Pat Buchanan. Where has he been ?

[Mallissin]

Thought I'd share this article written by Dilbert's creator, Scott Adams. He hired a poling company to survey over 500 well known economists about politics and shares the results.

http://www.cnn.com/2008/POLITICS/09/16/dilbert.economy/index.html

[ZERO]

Actually a progressive was more fascist when it first started when you actually look at it's origins you will see that for one progressives loved mussolini. In addition I should note that Hitler nor hitlerism is not entirely fascist and that there are big differences between the two. So please those of you that may not be well aquanauted with the subtle side notes of the fact books please refrain from trying to asurt that I am calling liberals or progressives jew haters or that they want totolarnaism.

I will try to make some posts pointing out how this really got started and how all the parties for the last 20 years are responsable.

[ZERO]

As a prequel I will start with the following before we go directly into this issue.

How do you get people to like you in a short period of time and sometimes without ever meting you? For one you could give them a gift or make there friends like you so that they can convince the other guy. Well giving out a gift is logically the best and most effective way of getting support. Now the money from the gift is actually coming from the person your giving it to but you are not going to take anything extra from them to give them this particular gift. Well how do you get the money?!

[ZERO]

Before I make my big post you should all try to take a look at the use of SSI (original name) or SS (current name) funds to pay for things other than what they were. You will see an interesting trend as to how the national debt magically went down during some administrations disproportionally to actual tax income and to increased spending.

Keep in mind that our gov has more then one book and that changes the way you got to look at things. Because results are not really 100% accurate you got to look at all the parts to understand what is really going on. The gov mislabels things and tries to hide data from us so we can not see what is going on.

[I LIKE TURTLES]

To me, this fall of MER comes as a huge shocker.

It was what... 3 weeks ago I declined an offer to go over to Merrill as an AVP??

I'm def not kicking myself in the ass now for staying with my sexy ass company.

[ZERO]

It is down almost another 500 today!