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LeftyAndProud60 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:48 PM
Original message
The Dow is really tanking.
Is this the double dip?
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ChairmanAgnostic Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:52 PM
Response to Original message
1. the single dips
are in the House. The double dips are senate republicans.

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Mira Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:16 PM
Response to Reply #1
3. ...
:rofl:
congrats: good one
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Ryano42 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:15 PM
Response to Original message
2. I am sure that's part...but I noticed...
when financial reform is upfront and being worked on in Washington the Dow goes nutz...

I think even mouse farts of a reform types would terrify them! :P
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necso Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:29 PM
Response to Original message
4. I believe that the "double dip"
commonly-referred-to relates to a "recession" following fairly quickly on the heels of another "recession" and a (relatively short) "recovery" (which terms can be defined variously).

It's difficult to know what the stock markets will do. For example, on the downturn there may be points where margin calls become important (especially if those being called upon don't have, can't raise, the necessary additions).

However, if such data (about such particulars, points) is widely, readily available, then this has escaped me. (Although it's possible to make various assumptions and come up with some guestimates.)
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prolesunited Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 04:02 PM
Response to Original message
5. Bad jobs reports are coming out this week
The market is such a roller coaster that day-to-day gyrations matter little. See what it looks like in two weeks.

Overall, I think the GOP is doing its darnedest to thwart the little glimmer of a recovery we had going in hopes of beating Obama in the fall. Frankly, I hope the voters don't have such a short-term memory to hand the reigns to the party that drove us off the cliff in the first place.

Their refusal to extend unemployment will definitely have an impact on any hopes of recovery -- but what's a few million lives ruined in your party's quest to regain power.

I wish the media would start telling the truth and that voter weren't so easily misled.
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ChairmanAgnostic Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 04:27 PM
Response to Reply #5
6. that last positive jobs report?
they canned and rehired tens of thousands of Census workers, artificially increasing the numbers. the real numbers for last month was 13,000.

considering 15,000,000 are either unemployed, long term unemployed, or frustrated out of the job market, that is a hideous number.

Could it be that the GOP is playing Russian Roulette by deliberately screwing up the economy so they can win in November? If that is true, that is treason, a violation of their oath to uphold the constitution and to work for the general welfare.
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DuaneBidoux Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:17 PM
Response to Original message
7. It is directly tied to the announcement of austerity plans from the G20.
Suddenly all the worlds governments are panicking over their budget deficits. A global pullback in government spending right now will create another deep recession, if not a downright depression now.

I have a broker friend who tells me that in spite of all the anti-government rhetoric out of the financial folks, they still don't want a sudden pullback in global government spending as it is the only thing holding up the global system right now.

In retrospect I totally agree with the Republicans that the stimulus package was poorly designed. It turned out that we only had about $100 billion in infrastructure spending, which is what really gets an economy going. We should have had about 10 times that amount going just into roads, airports, schools, bridges, etc.

That will end up possibly being the mistake that makes Obama a one term president.
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JVS Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:24 PM
Response to Reply #7
8. "In retrospect I totally agree with the Republicans that the stimulus package was poorly designed."
The stimulus design only became poorly designed after the administration allowed republicans to gut half of it in the name of bipartisanship.
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:32 PM
Response to Reply #8
10. No bill is perfect ...
:evilgrin:



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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:30 PM
Response to Reply #7
9. What a shame about infrastructure spending ...
Kucinich has introduced a bill for the last decade for massive spending on infrastructure and it goes nowhere. When I traced the bill back, it was actually another Congressman who introduced the bill originally, guess we have to invade other countries instead.

:(



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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:57 PM
Response to Reply #9
15. There are different perspectives on that
...keeping up our schools is a no-brainer (so to speak) and should be done whether or not the economy needs a stimulus; but if you look at the large-scale energy picture, spending the last of our resources on a transport system which is nearly useless without fossil fuels may be a bad idea. As oil production ratchets down, we need an infrastructure invested in the future. Trains are more viable - and if you look at China's stimulus, that's where they put their money.

Lacking any political will on the point, or any general public interest in the changes the future will bring, I think doing nothing is better than piling up debt on new bridges to nowhere.
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:08 PM
Response to Reply #15
19. Mass transit was not excluded ...
:shrug:

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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:28 PM
Response to Reply #19
20. neither was it specifically funded, unless I missed something
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:46 PM
Response to Reply #20
21. It has been several months since I looked at the bill...
but I doubt that there was not a place for mass transit or it could have been added if the bill was ever given serious consideration by those in power.

Instead we needed to invade Iraq and create millions of orphans.

:(


"...The number of Iraqi orphans increased in the last few years due to the war. According to official Iraqi government statistics released in December 2007, the number of Iraqi orphans had reached at least five million over the last three years..."

http://therealnews.com/t2/index.php?option=com_content&...



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TheKentuckian Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 12:07 PM
Response to Reply #15
26. Then work on plumbing, sewers, transmission lines, and internet deployment
while at least keeping the bridges up to code while transportation is more closely examined.

There is much that is needed and/or falling down aside from roads and new bridgework.
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:33 PM
Response to Original message
11. Getting close to the 38% retracement level from the March '09 lows n/t
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golfguru Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:33 PM
Response to Original message
12. Bad job reports like this one may be the reason...
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vaberella Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:39 PM
Response to Original message
13. Happens regularly. n/t
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:45 PM
Response to Reply #13
14. Not during the 90's tech bubble :) n/t
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vaberella Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:22 PM
Response to Reply #14
16. What happened after it imploded? n/t
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:37 PM
Response to Reply #16
18. I sold, bought and sold. We have traded sideways ...
Edited on Wed Jun-30-10 07:37 PM by slipslidingaway
http://www.democraticunderground.com/discuss/duboard.ph...

for years, just like we did in the 60's and 70's. If you are in your twenties, thirties or even early forties and do no have much invested then just leave it in the market, those of us who are a little older need to keep some of the gains made throughout our careers. The 90's bubble was great, but only if you were able to keep the gains.

http://stockcharts.com/charts/historical /





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Jack Rabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:28 PM
Response to Original message
17. No, it's passage of financial reform in the House
Wall Street can tank and be damned.
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Aramchek Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 09:36 AM
Response to Original message
22. I see you've got the latest GOP talking point memorized
Edited on Thu Jul-01-10 09:37 AM by Aramchek
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okieinpain Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 09:56 AM
Response to Original message
23. how much is lost with the deep water oil rigs shut down.
hope pres. obama doesn't have any more concerts planned.
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grantcart Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 10:16 AM
Response to Original message
24. consumer confidence took a big dive - that makes a lot of people jumpy
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Orsino Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 10:24 AM
Response to Original message
25. The Dow is a measure of how efficiently the wealthy are able to steal from us.
They occasionally manage to fuck it up for themselves.
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