The main US share index, the Dow Jones, has plummeted 5.6%, despite US President Barack Obama moving to try to reassure investors.
In points terms, the Dow ended down 635 to 10,810, its biggest one-day decline since October 2008, and the sixth largest on record.
Disrupting the Borg is expensive and time consuming!
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An unprecedented downgrading resulted in only the sixth largest fall on record.
Hmm…seems like an opportunity to buy.
From Yahoo Finance: “Stock index futures surged on Tuesday”
So, why didn’t you follow my advice?
He must be really disappointed. He wanted a much bigger drop. His speech apparently wasn’t caustic enough.
There is never gonna be real recovery until the world actually realizes that the new green/sustainable economy they keep promoting doesn’t add anything to the worlds economies.
In the best case it just moves the existing money/production around over and over, never producing anything new, and the rich bankers taking small part of it everytime it gets moved. Making the rich richer and the poor poorer. All this does is slowly take the savings from the people and gives it to the bankers, etc.
In the worst case it actually costs more to do something than you get back out of it, so the more you work with a finite resource, the smaller it gets. The longer you try to sustain this, the smaller the economy gets. Things that require a susbsidy are a good example of this. If you require a subsidy to build it, then building more just requires more subsidies. Growing a subsidized economy just makes you grow broke faster. The further you go down that path, the less you have to spend elsewhere. You can’t raise taxes, energy costs, product costs forever.
It has been a 1,100 point drop since friday.
since wed — minor nit
Well, where’s that Democrat certainty when you need it……………………/snark
Perry is supposed to announce on Saturday he’s running for President. He’ll be changing the dynamic. That would be ok with me, anyone but Obama and Romney!
BTW, your American “no Child Left Behind” doctrin seems to be working pretty well…
http://www.csmonitor.com/USA/Education/2011/0705/America-s-biggest-teacher-and-principal-cheating-scandal-unfolds-in-Atlanta/(page)/2
Oops, that was a link to page 2; start reading here:
http://www.csmonitor.com/USA/Education/2011/0705/America-s-biggest-teacher-and-principal-cheating-scandal-unfolds-in-Atlanta
Just 3 years ago my investment advisor said I was nuts to dump my IRA and buy physical gold when it was at $800 an oz. He said gold was an “unstable commodity”!!! BWWWAA HAHAHAHA!
Charles Krauthammer on the Obama speech this morning: Obama “looked weak, plaintive, and small”
Left wing media has growing Obama doubts, Bob Schieffer low on hopes, left into full on blaming of Tea Party
As Mr. teleprompter started to speak the market was slightly up and when he got to the point of tax the rich, the market just tanked. But he had two fundraisers to attend this evening. At least the last couple of presidents faced the camera. He just can not look into it. Reminds me of the Indians who thought that that camera took their soul.
4000 for the DOW here we come!!!!!!!!!!!!!!
I, for one, gave him a different finger up….
🙂