Er eh don't look now but the market has entered a serious sell-off

[jimlup]

www.google.com/finance

DOW down over 350 points as of this posting...

[geckosfeet]

1. Have been eying that all morning. The economy seems to have flatlined.

Traders are cashing in for now. I expect 11,500 +/200 (hope its not lower) range until mid-fall.

[Donnachaidh]

2. ...

[xchrom]

3. +1

[Bozita]

4. Amen!

[FirstLight]

5. [phone]!!!!

ya, that's where i am at, too


let them eat cake, right? bastids

[Liberalynn]

7. +1 Million

[Liberalynn]

6. but but but

spending cuts hurting the poor and middle class with even more promised to come, and all out give aways to the rich with even more promised to come, are supposed to "save the economy? right?" :sarcasm:

And this choke, choke, choke, "bargain deal" the Pukes came up with and the President signed off on was supposed to bring "stabiliy" to the economy." :sarcasm:

[L0oniX]

8. We must get this info out to the millions of unemployed, homeless and hungry.

[LuckyTheDog]

9. Tea Party Economics at work (nt)

[postulater]

10. Well, obviously they are going to take all their profits and

use them to create jobs. Right?

[Broderick]

11. This doesn't just hurt rich folk

Many hard working people have 401k retirement programs and those folks are seeing their retirement nest egg evaporate precipitously today and lately.

[Liberalynn]

14. and it is seeming more and more like SS and Medicare won't

be there to back them up anymore either, if some of the politicians get their way.

[Broderick]

21. A double shot

bam

[trotsky]

24. On the contrary, it's great for the rich.

More buying opportunities. More chances to buy up things they don't already own.

[SOS]

12. In 1937 FDR stopped stimulus spending

in a misguided deference to the Wall Street hooligans of the day.

Dow Jones August 1937: 190
Dow Jones April 1938: 100

April 2012: 6,000 ?

[Liberalynn]

17. I saw that on Rachel last night.

Sure wish more people would watch and pay attention to her show. A voice of sanity against all the inanity.

:wtf: How many times does the country have to go through the same ffing thing over and over to realize trickle down supply side only shit doesn't freaking work and never will? All it does is cause economic disaster which overtime we are loosing more and more ability to recover from. One of these times we won't be able to get back up again, and it could be this one. :banghead:


Man I understand that and I only had two years of economics in college. Hell even my professor who was a Republican taught us that the "Supply Side" theory was complete crap. He was actively urging fellow Republicans to move away from it. One of the few Repulicans I actually ever had some respect for. RIP Frank.

[fivepennies]

13. Or are they just

transferring their funds to safe overseas havens because the US ship is going down.

Good luck to 401k investers, no escape clause for you.

[Recursion]

15. Traders who had moved to securities from bonds are offloading -- 10 year yield is down

Which suggests people are moving money back into the bond market.

[John Agar]

16. Guess they figured out where this economy is headed...

It sucks to be us right now.

[jimlup]

18. Yeah the debt deal was the handwritting on the wall...

New depression coming... we're essentially back to 1937.

[John Agar]

22. 1937 is the key.

Cut spending in the middle of an unemployment-fueled double-dip.

Fools!

[Bozita]

19. Those damned unionized public school teachers, cops and firefighters did this!

[roxiejules]

20. Debt Limit Deal is bringing on an even deeper Depression

as predicted.

Disaster was not avoided, it was made inevitable.

[Little Star]

23. +1