Looks like the market doesn't like the stimulus

[ALS]

Dow down over 275 points as of 10:20 am

Yahoo DJ Daily Chart

[camper]

Well...the government needs to get that almost 1 trillion from taxing the people, and since the only people it can take it from are the ones who have something to take, and the current administration believes that the more you have the more you should have to give up in taxes...

camper

[Defleshed]

gold @ 967.50 at the time of this post. I think 1k will be a huge psychological barrier, breaking the barrier will be a vote of no confidence in the system by the people imo.

[Neo31rex31]

When i think of whats being passed and whats going down in the house and senate, all i can think of it an alarm clock....that it will inevitability go off.

[MichaelJ]

1 trillion is just the bare bones, consider the trillions of other associated costs and it balloons up considerably. this is another junk loan that we all know deep down will never be repaid in any form, and the market is reacting to that fact. This situation is not sustainable, and hasn't been for a while now. Mathmatically, we've been past the point of no return. This is all just placating while other preperations are made by the goverment.

Not trying to sound like a conspiricy theorist- it just would be prudent of the US to assume that there is going to be a collapse and plan for it. Just like it's prudent for citizens to assume it's circling the drain and make whatever preperations they can to lessen the blow.

[dc dalton]

Has nothing to do with the stimulus right now, If you look at the big losers most are financials ... Anyone here that think a 'stimulus plan' has anything to do with how damn bad they are doing you really need to wake up and smell the coffee ... these banks are drowning in toxic crap that keeps devaluing every damn day.

The banks are also still waiting to get their billions in bailouts so they can pull off another 'sucker rally' so they can suck investors back in, take the money and live la vida loca.... trust me when I say NONE of it will work! You will see rallies in the financials when they tap us for a few more bucks, then once that is gone and they are back to square one (e.g. broke) they will drop again.

The other big Dow component really hurting the market right no are the auto manufacturers. Remember they have to 'report back' this week and if what they have to say isn't right they get squat.

So stop trying to equate Wall street with this stimulus plan ... this wasn't directed at them, has nothing to do with them and anyone with a half a brain knows that .... Wall street is dead and too stupid to lay down. Half the banks you see open today will be gone or taken over by someone else by this time next year.

Your attempts to link this economic mess to some Dem plan now, or some stimulus plan that is floated to day is nothing short of silliness ... this 'snowball' started rolling down hill a long time ago and stopping the downward spiral will take nothing short of a miracle.

[rev214]

from Michelle Malkin's blog: President Obama’s 2,000-point tumble

On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
Great start, O.
Just saying…

[CarolinaGuy]

On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
Great start, O.
Just saying…

Actually, Bush did preside over most of that time, since Obama didn't take over for 2.5 months after Nov 4.

When we think about presidents and our current depression, there is only one name that comes to the sane mind.

Worst. President. Ever,

[billamj]

Actually, Bush did preside over most of that time, since Obama didn't take over for 2.5 months after Nov 4.

When we think about presidents and our current depression, there is only one name that comes to the sane mind.

Worst. President. Ever,

What does Carter have to do with the present economic situation?

[dc dalton]

Actually, Bush did preside over most of that time, since Obama didn't take over for 2.5 months after Nov 4.

When we think about presidents and our current depression, there is only one name that comes to the sane mind.

Worst. President. Ever,

Nice to see someone has some common sense left, repped ya for it


First off Michelle Malkin? Are we fucking serious? That dumb bitch hasn't got CLUE one what makes the market work .. except maybe by her broker .. from all the money she makes off the suckers that actually listen to her neocon TRIPE

But let's look ... here's the market for 1 year back:




hmm, let's see ... March April 2008, wandering in the 12,500 - 13,000 range, all while Bush, Bernanke and Paulson are singing in unison "The economy is fundamentally fine" and "Just a minor downturn, nothing to worry about"

Fast forward through 4 bank bailouts, emergency funding for AIG, Lehman gone, Wachovia gone, JP Morgan gone, Citi taken over by BofA, the TARP fund .... through all the rate dropping down to almost 0% ... every 'dog and pony show' Bernanke and Paulson could pull

Fast forward to Jan 21, 2009 ... market at 8,200

Now you tell me WHO was in charge of the 2nd largest drop in the history of the market?

Let's see ... just some rough math:

Bush - a drop over 5000 points (actually more because before that the DOW was over 14,000)

Obama - a drop of 650 points TOTAL

So let's not go trying to use the BULLSHIT information from that dumb bitch Malkin, the day I listen to her about ANYTHING the market does is the day I become a Sheeple worst than the rest!