Looks like Shrub's economy isn't doing too well!

[napi21]

The DOW lost $125.18 today to close at $10,278.75.

Why do I care??? Because I'm 61, and my 401K is taking another damn hit under this idiot's reign!

[Les BOOGIE]

1. Yep, mine took a big hit in the first quarter n/t

[seabeyond]

2. ya well.......

i am 43 and not investing anywhere, lol lol cause i trust nothing. waiting for it to all tumble

[Kikosexy2]

3. Are we headed for a ...

Depression??

[The Doctor.]

10. Likely. eom

[EVDebs]

4. They're beyond Idiots. They're Morans.

We've had Moe, Curly, and Larry Lindsey on the council of economic advisors and anyone who dares tell the truth gets canned.

[tofubo]

19. you do know the bush family motto, right ??

"we put the 'L' in stupidity"

[EVDebs]

21. I've heard the motto is really "Other People's Money" LOL

Actually cry out loud, but if I couldn't laugh I'd be crying right about now. These neocon economomists put the 'con' on us all. It's just a con-game to them anyway.

[Straight Shooter]

24. LOL. Good one.

I'm so glad someone made me laugh today. :toast:

[sendero]

5. I moved my..

... retirement funds into cash (money market) a while ago. Sure, I ain't making much but at least I'm not losing it.

The upside potential of the market looks tiny compared to the downside.

[Laura PourMeADrink]

11. I was thinking of doing that too - but was waiting for a bubble..

I have regained maybe 30 % oif what I lost in the last dive. Maybe this is all a big plan. Just think, all the money lost by average Americans. Where did it go? Someone had to gain somewhere.

[12345]

13. I'm looking into that right now, too

I'm even considering withdrawing my funds. A 10% hit is better than what I'm anticipating...

[MADem]

15. When interest rates go through the roof it will

You may have a tough time keeping up with inflation, but at least you won't be treading water or drifting backward....

[TheFarseer]

20. Yeah, I think anyone buying into the stock market now is a fool

I can see no good reason why the markets would go up and plenty of reason for it to go down.

[caligirl]

6. Iwent nuts today about this. I swear my husband is going to put me in a

nut house. the bankruptcy bill, broken health insurance, falling stock prices, rising gas prices, falling sales, falling studnet financial aid.

How long will the red states suffer before they won't ever vote for repugs again. The reservists in Iraq and their families seem to have had enough based on a letter i got from Kerry today.

[SpiralHawk]

12. It is all the fault of George Bush and the Republicans

They are RESPONSIBLE for this mess.

[dweller]

7. 2 day back to back triple digit loss

first time in 8 mos.

dp

and there's still Friday....maybe it'll be a Trifecta??

[stray cat]

8. Sorry to hear about your 401K

Mine keeps losing money as well but I have some time to let it ride yet. Bush Co claims with private accounts with S.S. he can cut benefits by 50% and we will more than make them up in the stock market. Why doesn't someone point out that we have been losing money in 401Ks since he took office and it looks even worse for the future.

[SnowGoose]

9. A minor point

you may care, you may not, but the Dow is indexed in points, not dollars (unless I am mistaken). So one wouldn't say the Dow is at "10,000 dollars" but "10,000 points".

'Goose

[Streetdoc270]

14. Yea, well mine's gone....

Had to take it all out to pay medical bills, and now it just became harder for me to get bankruptcy protection.

[12345]

16. I'm not sure if this is true, but I used to know an accountant

who told me that as long as you make a "good faith effort" to pay off your medical bills, you can't get into trouble. (She said it could be $1 a month.) She did say that they could still send collectors to intimidate you, but that by law you would be shielded. Seems like it could help, if she was right. (It could be a state thing, too.)

[Streetdoc270]

23. That is true

and here in NC we are a 'no garnished wage' state but unfortunately that means that Dr's want their money in full. We were just lucky to find a dermatologist that would see us without insurance. Yes you heard me, we were turned away from our local Emergency Room because they could not call a dermatologist because my wife does not have health insurance. I was told by our personal MD that that is a trend by all specialists, they will not see anyone without insurance. The thing that really makes my blood boil is the fact that she has a disorder that could be potentially fatal (Stevens-Johnson Syndrome)!

[12345]

36. Wow. I'm really sorry.

I'll never understand why our "culture of life" doesn't place a higher priority on medical care.

[RobertSeattle]

17. Let's hope Supply Side finally gets a stake through it's "heart"

All of the GOP's Tax Cuts (mostly for the wealthy) were supposed to bring us boom times!

[Blue_In_AK]

18. Us too

We lost about $4,000 last month.

[Zynx]

22. This is why I pick my own stocks.

I've done really well under Bush actually becuase P&G is up significantly and my two new holdings have held up okay during this most recent down draft. There are always good stocks and even good sectors to pick. You just have to know where to look. Overall, I would say that the market is as oversold on a technical basis right now as it has been in a long time.

[RawMaterials]

32. anyone who is in index funds needs to get out

they haven't done anything since bush has been in office, but if you pick stocks for the long haul that pay dividends and consistently make money even in bad markets you can do alright. i still think owning a stock is one of the best ways to beet inflation, the thinking being that with inflation the stock should split along the way. just a theory.

[LiberallyInclined]

25. but just think about the buying opportunities you'll have to invest more-

in the stock market over the next couple years...then over time, that'll grow into a nice little nestegg for your retirement...

oh wait- you're 61?

sucks for you- you should have been born 20 years earlier.
btw- didn't your parents leave you a sizable trust fund? no? sucks for you again- you should have been born to wealthier parents.
and why is your 401k doing so poorly? why didn't your insider friends advise you when to get out?
no insider friends either??

i'm starting to think that maybe you're not 'george bush's america' material...have you considered maybe moving back to the country you came from?

[area51]

26. "Looks like Shrub's economy isn't doing too well!"

Yes, how true. And no one knows better than the unemployed & underemployed.


-------------
"Prosperity is just around the corner." — Herbert Hoover
"The economy has turned a corner." — GW Bush

Herbert Hoover = GW Bush

Neither man cared about the Depression their economic policies created.

[corker]

28. part of their plan

they'll say sorry if we only had the money we could fund these vital social programs,oh well. I hate these bastards

[Doctor_J]

27. You mean Clinton's economy

As any Libecile (including Bush himself) will tell you, Chimp "inerhited this recession". :eyes:

Waht's weird is that even making up a war to pump $200,000,000,000 into the economy hasn't helped.

[Dunedain]

29. Pardon my rudeness

Why are you in stocks at 61?
Isn't it more prudent to be in a capital preservation mindset?
I guess it's a streach for me to think you aren't, but most of the 61 + year olds I know are in safe (read poor preforming) investments, and the DOW would be a topic of conversation like the weather, not a point of contention.

[napi21]

34. You arn't rude. I have my $$ in mutual funds.

Yes, it's mostly stocks, and I have been thinking aobut switching it to something very safe. The reason I haven't yet is because I lost so much in the last big downturn, I was hoping at least half of it would come back before I made the change.

Our income has been cut by 60% in the last 6 years, and we simply don't have disposable income to invest anymore. I really was hoping that the turmoil would quiet down and the market would get a little better.

[Melynn]

30. Is the fix in? I have a theory.

I had a thought. Maybe the big money boys are tanking the economy on purpose in order to get the BushCo "Social Security Reform" passed.

If the economy goes south, Bush can stand up and say, "we need more investment in our economy and my Social Security Reform plan is the ticket". The big money boys are willingly to put up short term loses in order to get their hands on all of that Social Security loot.

[Doctor_J]

31. Sadly, he's already spent alot of what was in the

"lock box" when he took office. And obviously it hasn't helped at all. Also, it's hard to sell investing SS on Wall St when the DJIA has been red since he moved into Gore's house.

[sendero]

37. Sure....

... prove that the idea is shit by tanking the very market you are depending on to move funds into. :)

Somehow, I don't think so.

I really don't think anyone is tanking the economy on purpose. The tanking is just a side effect of the tax-cut-money-grab, one that they probably got some idiot winger economist to tell them would actually help the economy.

The problem with economic theory is that it doesn't operate in a vacuum. Those tax cuts probably would have worked 30 years ago, when capital formation was a big problem. But they don't work at all when the problem is on the demand side.

[Quixote1818]

33. Fucking MSM just said "next week will be a good time to buy"???

They shrugged it off as no big deal. I am so sick of the fucking conservative media.

[Zynx]

35. It probably won't be that bad a time to buy.

I personally don't think we'll ever see those low levels of 2002 again and the lowest we'll probably go is the mid to low 9000s at this point.

[EVDebs]

38. Two articles I came across show Bush economy is stagnant jobwise

read this posting

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=3476260&mesg_id=3476306