Stock Market dropping like a rock - DOW is down 236 points

[groovedaddy]

Source: msn.com

in first hour of trading.
http://www.msn.com/



No link yet.

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Hold on to your seats! The wild ride continues.

[DS1]

1. 236 isn't anything

it was significant in the 80s, but now it's tiny

these chicken-little threads are rather amusing

[BridgeTheGap]

4. More "amusement" to follow

stay tuned...

[groovedaddy]

7. No, the sky isn't falling - it's being propped up by the Fed!

But it is a house of cards!

[0007]

17. You're noticed that too, huh?

[fasttense]

2. Wild swings are very common when a country deregulates

the market. Welcome to the world of "free market". I hope all of Milton Friedman's ignorant lap dogs are enjoying the turbulence of their neocon creation.

[skoalyman]

3. and the feds pumping or as they say kiting like crazy

Fed adds $12.00 billion with overnight RP

Fed adds $21.00 billion with 7 days RP

[BridgeTheGap]

6. $41 Billion Today - largest "infusion" since 2001

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3050252

[gasperc]

5. is 3.9% GDP really just inflation from $90/barrel oil

with so much pressure in housing, and the depressed prices of homes not included in this GDP calculation, isn't it logical to assume that the price of oil has bled into the price of everything and simply inflated the growth of the economy? as opposed to truly gorwing the economy as in years past?

[louis-t]

9. Add to that-any corporate 'profit'

comes from cutting costs by outsourcing, layoffs, closing plants, etc., not because they're selling more product. Truly a house of cards.

[gasperc]

10. agreed, how is that in many ways economy contracting

job losses, plant closings, housing starts falling off a cliff and with it construction jobs, cut backs in purchases for these homes, the same true of used homes. I don't believe the GDP reflects true "growth" anymore. I truly believe that the price of energy has pushed it's way thru the economy and inflated it's value.

[Hissyspit]

8. Link:

http://enews.earthlink.net/article/top?guid=20071101/47295d50_3ca6_1552620071101942923011

[Baby Snooks]

11. What goes up goes down

What goes up goes down. Basic principle of the stock market. And at some point when it goes up, smart people sell and make a little cash and then after everyone else sells and the price goes down, smart people buy the stock back.

And does anyone really believe any stock is worth $700? Only the people who bought it for $80 a share and are selling it at $700 a share. Smart people, you see, know the wisdom of PT Barnum. There's a sucker born every minute. Usually the ones who buy the stock high from the people who bought the stock low.

And so it goes on Wall Street.

[LeftHander]

13. corrections.....replace "smart" with "rich"....nt

[opihimoimoi]

12. If Gore was President...the Dow would be about 16,000 to 18,000

Ya get shit when ya got a shitty Pub as preznint...

[Deja Q]

15. And you went to a parallel universe to confirm that?

9/11 may or may not have been prevented, but offshoring was starting to take off in late 2000 - please correct me if I'm wrong, my memory is admittedly fuzzy...

[opihimoimoi]

16. Its not off shoring....its BUSH and his OVER SPENDING/WAR

And the Dreadful GOOPers who follow his ass. fuck um all....

[AndyTiedye]

18. Offshoring Isn't So Bad When You Have Full Employment at Home

[Deja Q]

14. Well, the rate cute seemed to work...

For about 5 minutes; let me guess why it's dropping: Fear the Dollar will become devalued?

[paparush]

19. And, Oil is up, over $96/barrel

http://news.bbc.co.uk/2/hi/business/7072476.stm