So we have had two days in the recent past that the Dow has gone down

[nadinbrzezinski]

by over 2%... today 2.60%...

I'd say the troubles continue and will continue

Oh and I surely expect folks to tell me how wondrful things are.

[Waya]

1. Gonna get worse...............

.....before it gets better........

[SteppingRazor]

2. The most distressing thing about today's drop is that the rate cut just happened yesterday.

You'd expect that to at least pacify Wall Street for a few days.

[nadinbrzezinski]

7. That is why I think we are near the end point

and it will get really ugly

[shain from kane]

3. I'm sure glad that I put all my social security money in the stock market. Let the professional

money managers handle it. They're a lot smarter than the rest of us.

[Maggie_May]

4. Consumers are tapped out!

No more pulling out that credit card and buying this or buying that. Oh yeah and that interest rate cut just screwed us even more by the lowering dollar. Now not only are we tapped out the food and gas we buy is going to up and I mean up. I will not paint a pretty picture because there are no rainbows in the sky.

[nadinbrzezinski]

5. This is going to be an ugly christmas for retailers.

No doubt about that

But mark my words

Some folks still will try to put lipstick on this pig

[Mojambo]

12. This is the first time in my life that we are not really doing a retail XMas

At least not how we have in the past.

I'm kinda relieved that the family came to this idea. I was really stressed about how I was gonna pull it off this year.

[nadinbrzezinski]

15. Thankfully we don't mostly

I need to put two packages for family in Hawaii, but that is our extent

And to save money will send all to one adress

[Double T]

6. It is going to get worse BEFORE it gets unbelievably worse.

The fundamental economic problems are being completely ignored and Bernake's little band-aids aren't enough to stop the hemorrhaging.

[nadinbrzezinski]

10. He is a student of the great depresion

what he is doing is what the free traders have always said would have prevented 1929

They are trying to keep this together as long as they can

Ironically I think he will triger another depresion, this time inflationary

[OwnedByFerrets]

13. They will do all they can to keep it together

until Jan. 2009, then it will all be President Edwards fault.

[nadinbrzezinski]

14. Any President actually

but yes...

I don't think they will be able to hold it together though... just a feeling, but this is starting to unravel

been talking to bidness associates, and some industries, (my industry) is in deep trouble. We carry luxury goods and lemme see, book or rent, I understand... but those are the tips of the damn iceberg.

And hell, I have seen my husband's check buying power go to hell in a hand basket... stretching our budget with things like oh soup.

[OwnedByFerrets]

21. The part that worries me the most

is that the poor and low middle class are going to be hurt the most. I work with quite a few ppl who fit this category and the rises prices are killing them. And you are so correct, this is only the tip of the iceberg.

[Double T]

20. Bernanke is from 'the street' and he will do whatever he can.........

to keep the economy going until bushco can make their getaway. The US is facing a GREATER DEPRESSION than the 1920s-30s as it will take several decades to repair the damage that the CONSevatives have done to our nation. The Clintons helped get US here and they sure as hell aren't the ones to get US out of here. It is 1929....again.

[swag]

8. I'm not going to tell you how wonderful things are,

but I will point out that the S&P 500 is up more than ten percent over this time last year and over 12% when dividends are tallied into returns, and also that a 2%+ drop in the DJIA is hardly an unusual event.

[onenote]

9. yep, focusing on two days in the recent past tells us everything

So, let's not pay any attention to the fact that the market today is still 1500 points higher than it was one year ago and over 1000 points higher than it was 10 weeks ago. Its volatile, for sure. And it may not recover its previous high for some time. But is it in a "free fall" as some (not the OP) have suggested? Not yet.

[nadinbrzezinski]

11. The problem is that I am reminded of the

dynamics that have led to other crashes with this one...

Not in free fall, and it will not happen that way this time if it happens. Too many controls after 1987

[TheFarseer]

16. Remember, even after today, the Dow is still

at close to record highs. If you're going to dismiss the record high days, you can't point to today and say the economy is bad. Now granted I would normally be on your side, but I'm just feeling contrary today :)

[nadinbrzezinski]

17. Ok Mr Contrarian

I am looking at trends, and I have to ask... without the what is it now, trillion that has been infused, where would we be?

[TheFarseer]

18. somewhat lower I'd imagine

although I doubt much below 13,000. It's hard for it to plunge too far because of bargain hunters on the sidelines and people putting in 401k money every payday no matter what. This lowering interest rates is pissing me off, honestly. I have no debt and I've got CDs coming due next month that won't get me nearly as high a rate now.

[nadinbrzezinski]

19. I fear well under 12,000

they have been propping it up

They are doing exactly 180 of 1929

It will lead to other problems... and real time inflation is one of them.

We also have a crash protection team, whose job is exactly to prevent this.

That is why I see this and think... the harsh landing will be worst.

Just my opinion...

Oh and part of the value... has all to do with the dollar vs other currencies, which has inflated the real value.

[Buttercup McToots]

22. Rick Santelli sez

Rick Santelli says the credit markets are indicating
that Paul Bunyan type shoes are about to drop...

He doesn't believe the job numbers...fudged...

[Atman]

23. No, no, no! The economy is GREAT!

All the rich people say so.

.