Comments on: Dow falls 678 points, closes below 9,000. http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/ Fri, 27 Nov 2009 04:50:46 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: EugeneDebs http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5277122 EugeneDebs Fri, 10 Oct 2008 15:52:25 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5277122 LushInterior Says: What a great day to be an American…..I transfered all my 401K moneys to a Treasury Money Mkt fund 6 months ago and now just waiting to buy when mkt hits bottom…..Oh man, I cant wait to buy back in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Its great to see your thrill at profitting of the misfortune of others. Yeah its a great day in YOUR house when Americans are suffering. You are such a bozo LushInterior Says:

What a great day to be an American…..I transfered all my 401K moneys to a Treasury Money Mkt fund 6 months ago and now just waiting to buy when mkt hits bottom…..Oh man, I cant wait to buy back in.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Its great to see your thrill at profitting of the misfortune of others. Yeah its a great day in YOUR house when Americans are suffering. You are such a bozo

]]> By: green http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276738 green Fri, 10 Oct 2008 05:09:06 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276738 dae at 57 I have also been predicting another great depression for some time - and I have been laughed at. But I am a student of history and all the chips are in a row. I took all my money out of the market on election day 2000 - I know a failure when I see one. The only positive thing I can see is perhaps we the people will become kinder to one another, perhaps we will share what we have left. When those who are hungry knock on my door I will feed them; when those who have nowhere to sleep I will house them. Wake up America! dae at 57
I have also been predicting another great depression for some time – and I have been laughed at. But I am a student of history and all the chips are in a row. I took all my money out of the market on election day 2000 – I know a failure when I see one. The only positive thing I can see is perhaps we the people will become kinder to one another, perhaps we will share what we have left. When those who are hungry knock on my door I will feed them; when those who have nowhere to sleep I will house them. Wake up America!

]]> By: dae http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276730 dae Fri, 10 Oct 2008 04:40:41 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276730 Famous Last Words: President George W. Bush Sept. 20. "At first, I thought we could deal with the problem one issue at a time. The house of cards was much bigger and started to stretch beyond Wall Street. When one card started to go, we worried about the whole deck going down." Famous Last Words:

President George W. Bush Sept. 20.

“At first, I thought we could deal with the problem one issue at a time. The house of cards was much bigger and started to stretch beyond Wall Street. When one card started to go, we worried about the whole deck going down.”

]]> By: dae http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276710 dae Fri, 10 Oct 2008 03:33:40 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276710 The real unemployment rate when discouraged workers, part-time workers seeking full-time employment,prisoners(those jailed above the nominal incarceration rate) and armed forces are added is above 13%. Real inflation rate when commodity basket is full and housing/health care and other costs are included is close to 15% per annum. We've had negative growth when adjusted since 2004. Add to this stock market crash with 50% loss of equity valuation since artificial high. We are in a depression. Expect real unemployment to approach great depression levels, even though all attempts will be made to hide it from view. Same applies to other indicators. Good night band good luck. The real unemployment rate when discouraged workers, part-time workers seeking full-time employment,prisoners(those jailed above the nominal incarceration rate) and armed forces are added is above 13%. Real inflation rate when commodity basket is full and housing/health care and other costs are included is close to 15% per annum. We’ve had negative growth when adjusted since 2004. Add to this stock market crash with 50% loss of equity valuation since artificial high. We are in a depression. Expect real unemployment to approach great depression levels, even though all attempts will be made to hide it from view. Same applies to other indicators. Good night band good luck.

]]> By: dae http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276706 dae Fri, 10 Oct 2008 03:15:51 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276706 Last week I predicted Dow 8000. We will be there tomorrow. Long term projection is Dow 2000. After excess valuation is wrung out we will be back to pre-boom (1987)levels. The market will stay stagnant for at least a decade with very little movement above or below the flat-line. No profit taking anytime soon. Last week I predicted Dow 8000. We will be there tomorrow. Long term projection is Dow 2000. After excess valuation is wrung out we will be back to pre-boom (1987)levels. The market will stay stagnant for at least a decade with very little movement above or below the flat-line. No profit taking anytime soon.

]]> By: green http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276590 green Fri, 10 Oct 2008 00:58:30 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276590 Just remember everything GWBush touches turns to sh!t. He's failed at everything he's ever done and will be despised forever. With hope - and a massive amount of luck - all of this will hit the people where it hurts, and perhaps, just perhaps they will begin voting in their own best interests for a change. Just remember everything GWBush touches turns to sh!t. He’s failed at everything he’s ever done and will be despised forever. With hope – and a massive amount of luck – all of this will hit the people where it hurts, and perhaps, just perhaps they will begin voting in their own best interests for a change.

]]> By: Badger http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276364 Badger Thu, 09 Oct 2008 22:23:24 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276364 According to PBS Newshour, the amount of outstanding liability for "Credit Default Swaps"....$63 TRILLION! Subprime Borrowers my A$$. According to PBS Newshour, the amount of outstanding liability for “Credit Default Swaps”….$63 TRILLION!

Subprime Borrowers my A$$.

]]> By: Badger http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-2/#comment-5276348 Badger Thu, 09 Oct 2008 22:18:44 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276348 The GOP should blame itself. The American Public needs to Understand what “leverage” means,why the "net capital rule" was changed, and about a meeting held on April 28, 2004. The NY Times lays it all out….the smoking Gun: http://www.nytimes.com/2008/10/03/business/03sec.html?pagewanted=1&_r=1&hp from the excellent article: “On that bright spring afternoon, the five members of the Securities and Exchange Commission met in a basement hearing room to consider an urgent plea by the big investment banks. They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments. The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.” The GOP should blame itself.

The American Public needs to Understand what “leverage” means,why the “net capital rule” was changed, and about a meeting held on April 28, 2004.

The NY Times lays it all out….the smoking Gun:

http://www.nytimes.com/2008/10/03/business/03sec.html?pagewanted=1&_r=1&hp
from the excellent article:

“On that bright spring afternoon, the five members of the Securities and Exchange Commission met in a basement hearing room to consider an urgent plea by the big investment banks.

They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments.

The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.”

]]> By: katy http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276280 katy Thu, 09 Oct 2008 22:00:40 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276280 listening to a best-of randi (anyone know why?) and she read this article by THOMAS FRANK (in the WSJ!) from last week 10/1: <em><strong>The GOP Blames the Victim</strong> Capitalism sure is fragile if subprime borrowers can ruin it. http://online.wsj.com/article/SB122282690823092989.html</em> listening to a best-of randi (anyone know why?) and she read this article by THOMAS FRANK (in the WSJ!) from last week 10/1:

The GOP Blames the Victim
Capitalism sure is fragile if subprime borrowers can ruin it.

http://online.wsj.com/article/SB122282690823092989.html

]]> By: freeman http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276272 freeman Thu, 09 Oct 2008 21:54:49 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276272 According to Rep .brad sherman of california on c span some Representatives voting on the bailout were told that without it's passing, there would be martial law in the country within days ! Posse comitatus is history through the use of a signing statement ! The 3rd infantry's 1st brigade combat team ,according to the army times , will be available for 12 months from Oct. 1st .Their stated mission is to help in the event of a national emergency with the same crowd control techniques they have been trained to employ in Iraq. In case you missed my link above and at the risk of being redundant..... http://www.informationclearinghouse.info/article20975.htm According to Rep .brad sherman of california on c span some Representatives voting on the bailout were told that without it’s passing, there would be martial law in the country within days !
Posse comitatus is history through the use of a signing statement !
The 3rd infantry’s 1st brigade combat team ,according to the army times , will be available for 12 months from Oct. 1st .Their stated mission is to help in the event of a national emergency with the same crowd control techniques they have been trained to employ in Iraq.
In case you missed my link above and at the risk of being redundant…..
http://www.informationclearinghouse.info/article20975.htm

]]> By: stateofthedivision http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276270 stateofthedivision Thu, 09 Oct 2008 21:54:45 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276270 Wall Street traders want the government <strong>to buy stock market futures</strong>. At least some folks on CNBC are suggesting such. The laundry list of needed interventions continues to grow! That's a long menu they have at that Washington Mall restaurant, Corporafornication. Bush & Paulson deliver! Wall Street traders want the government to buy stock market futures. At least some folks on CNBC are suggesting such.

The laundry list of needed interventions continues to grow!

That’s a long menu they have at that Washington Mall restaurant, Corporafornication. Bush & Paulson deliver!

]]> By: McWars http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276252 McWars Thu, 09 Oct 2008 21:47:49 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276252 It's becoming increasingly difficult with Google Chrome to recommend comments. It’s becoming increasingly difficult with Google Chrome to recommend comments.

]]> By: McWars http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276250 McWars Thu, 09 Oct 2008 21:47:31 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276250 It's becoming increasing difficult with Google Chrome to recommend comments. It’s becoming increasing difficult with Google Chrome to recommend comments.

]]> By: McWars http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276234 McWars Thu, 09 Oct 2008 21:38:52 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276234 Can anyone tell me when we can expect the booming robust economy that George Bush promised his tax policies would usher in? How long exactly are those tax cuts supposed to take in order to work? Anyone? Anyone? Hello ralph. To mask something that doesn’t work, they not only refuse to admit their way of doing things as wrong, they say we’re not pressing forward enough with their “solutions.” Blaming academics and policy ana lysts not funded by big oil riles up the base and misleads them to vote against their interests. Why accept the truth when you can embellish the lies? Can anyone tell me when we can expect the booming robust economy that George Bush promised his tax policies would usher in? How long exactly are those tax cuts supposed to take in order to work?

Anyone? Anyone?

Hello ralph. To mask something that doesn’t work, they not only refuse to admit their way of doing things as wrong, they say we’re not pressing forward enough with their “solutions.” Blaming academics and policy ana lysts not funded by big oil riles up the base and misleads them to vote against their interests. Why accept the truth when you can embellish the lies?

]]> By: pete http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276222 pete Thu, 09 Oct 2008 21:36:14 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276222 Don't worry about it Keith. It's hard to remain civilized when ignorant savages are Hellbent on destroying our country. I'm willing to give Democracy a chance on election day but, that's about as far as my patience will reach. And there are any number of prominent people who I would like to, if given the opportunity, hit with a moderately heavy blunt object. Or, at least, a moderately thick phone book. Don’t worry about it Keith. It’s hard to remain civilized when ignorant savages are Hellbent on destroying our country. I’m willing to give Democracy a chance on election day but, that’s about as far as my patience will reach.

And there are any number of prominent people who I would like to, if given the opportunity, hit with a moderately heavy blunt object. Or, at least, a moderately thick phone book.

]]> By: Doc Rock http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276196 Doc Rock Thu, 09 Oct 2008 21:30:37 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276196 Thank heavens for the bailout! Thank heavens for the bailout!

]]> By: had enough http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276188 had enough Thu, 09 Oct 2008 21:29:48 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276188 # 17 <em>lurker Says: -------------------------------------------------------------------------------- God must really want Obama to win.</em> Maybe.. but perhaps God has said <em>enough</em> to the greed, selfisness and obscene behaviour found around the love of money. # 17 lurker Says:
——————————————————————————–

God must really want Obama to win.

Maybe.. but perhaps God has said enough to the greed, selfisness and obscene behaviour found around the love of money.

]]> By: Keith H. http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276180 Keith H. Thu, 09 Oct 2008 21:28:24 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276180 Yeah, I don't want to sound too much like a jerk because I like this place and enjoy the posts. But I just have this really dumb thing where I can't help but hope the whole damn thing melts down like butter on the bbq and everyone pays george & dick a visit. Yeah, I don’t want to sound too much like a jerk because I like this place and enjoy the posts.
But I just have this really dumb thing where I can’t help but hope the whole damn thing melts down like butter on the bbq and everyone pays george & dick a visit.

]]> By: McWars http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276170 McWars Thu, 09 Oct 2008 21:25:53 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276170 <em>ClusterTim Says: So what about the $800 BILLION we doled out to teh fat cats of Wall Street last week? I guess it wasnt enough!</em> The money hasn't hit the target as of yet. Paulson is taking his merry sweet time figuring out which of his many granted powers to use first. He may also be busy staffing the new Office of Corporate Cuddling with his buddies from Goldman Sucks and laid-off honchos from Lehman Brothers and Bear Stearns. It's tough to live off Golden Parachutes, you still need a job. ClusterTim Says:
So what about the $800 BILLION we doled out to teh fat cats of Wall Street last week? I guess it wasnt enough!

The money hasn’t hit the target as of yet. Paulson is taking his merry sweet time figuring out which of his many granted powers to use first. He may also be busy staffing the new Office of Corporate Cuddling with his buddies from Goldman Sucks and laid-off honchos from Lehman Brothers and Bear Stearns. It’s tough to live off Golden Parachutes, you still need a job.

]]> By: ralph the wonder llama http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/comment-page-1/#comment-5276166 ralph the wonder llama Thu, 09 Oct 2008 21:23:22 +0000 http://thinkprogress.org/2008/10/09/dow-falls-678-points-closes-below-9000/#comment-5276166 (following up on McWars' comment) Phil Gramm just announced that Wall Street is a "financial community of whiners". They're just going through a "mental collapse of the banking system". It's "all in their heads". (following up on McWars’ comment)

Phil Gramm just announced that Wall Street is a “financial community of whiners”. They’re just going through a “mental collapse of the banking system”. It’s “all in their heads”.

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