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Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 20:16:14by Cid_Yama
Wall Street ended another unforgiving month with a steep loss — one that left the Dow Jones industrial average at less than half its record high.
— The Dow, at its lowest close since May 1, 1997, is now down 50.1 percent from its record high of 14,164.53 reached in October 2007. It came within 34 points of 7,000, a level it hasn’t fallen below since October 1997.
— The Standard & Poor’s 500 index breached its Nov. 21 trading low of 741.02, which came during the height of the credit crisis. Friday’s finish was the lowest for the index since Dec. 18, 1996.
— The Dow’s 11.7 percent loss in February was its worst monthly loss since 1933, when it fell 15.6 percent, and its sixth straight monthly drop. The half-year slide totals 38.8 percent, the worst since 1932, when it fell 45 percent.
The S&P 500 index fell 11 percent for the month. It was the second-worst February for the index, topped only by an 18.4 percent slide in 1933. It was the index’s fifth monthly drop in six months; it managed a slender gain of 0.8 percent in December.
— The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, is down 52.7 percent since its October 2007 peak.
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Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 21:49:40by heroineworshipper
"Mission accomplished"
--- Barrack Ubuuuuuuba
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 21:51:18by Fishman
Excellent post Cid. The market, looking for any leadership, any stability, sees Obama. Every time he speaks the market crumbles. The best stim plan would be for him to take another Hawaii vacation. Though no fan of the rich, the simple fact is the market creates jobs. We are so screwed.
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 22:20:37by AlexdeLarge
cbxer55 wrote:Even on Fox News tonight, it was said that it would help considerably if oobs would take a 3 week vacation to Camp David, and not say a word!
LOL
Blasphemy! Heresy!! No soup for you!!!!!
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 22:28:00by sicophiliac
Fishman wrote:Excellent post Cid. The market, looking for any leadership, any stability, sees Obama. Every time he speaks the market crumbles. The best stim plan would be for him to take another Hawaii vacation. Though no fan of the rich, the simple fact is the market creates jobs. We are so screwed.
Yes its all Obama's fault... blame him for a crash that has been years.. arguably decades in the making.
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 22:32:40by Fishman
Pstarr, you mean like liberals trying to figure out how to run an economy? Cockroaches running every which way.
No sico, many plates can be balances at one time, a few may fall. It takes a really bad juggler, an inexperienced juggler, to drop them all.
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 22:33:22by TWilliam
cbxer55 wrote:Even on Fox News tonight, it was said that it would help considerably if oobs would take a 3 week vacation to Camp David, and not say a word!
LOL
What a crock. This course was set before 'Oobs' was ever even
thinking about the presidency. It's called 'inertia', and what we're seeing now is the inevitable outcome of (Republican-inspired) Bubble-nomics.
These media bobble-heads should try learning some history...
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 22:48:51by Fishman
TW
Perhaps you are right, but lets look at data, not opinion.
Numerous times Obama speaks and the market crumbles the next day, most days when he keeps quite the market rebound at least a few points. Certainly the market would be challenged right now, but as I posted, it takes a really bad juggler to drop all the balls at one time.
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 23:16:18by Cid_Yama
Yes, they would rather try to blame Obama, than admit that the neocon push to remove regulation and oversight, and especially the removal of the uptick rule by the SEC in December of 2006 was the real cause of what has happened.
Must be tough when your core principles turn out to be so wrong, they actually brought about the end of the world as we knew it.
Yeah, it was a great party when financial entities were creating mortgages they knew would fail, just so they had more to bundle and sell. Since they were dumping them into someone else's lap they could care less. That's called fraud and the entire industry participated. They fleeced the entire planet.
Most of us here were discussing this way back then, before Obama was even running. Right, Obama's fault. What a bunch of boobs.
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 23:19:00by frankthetank
The only common sense in the government lies with a group of individuals in the house (mostly Republican)... the rest are a bunch of criminals out to steal your/my money and enrich themselves, their friends.
I have 0 dollars in the stock market. Let it drop another 50%...
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 23:28:07by TWilliam
Fishman wrote:TW
Perhaps you are right, but lets look at data, not opinion.
Numerous times Obama speaks and the market crumbles the next day, most days when he keeps quite the market rebound at least a few points. Certainly the market would be challenged right now, but as I posted, it takes a really bad juggler to drop all the balls at one time.
That may be the data, but the
opinion that expresses the implied assumption that the one causes the other is an example of the logical fallacy of
post hoc, ergo propter hoc, sometimes expressed succinctly in English as
correlation not causation...
Re: Dow index value less than half its peak
Posted:
Fri 27 Feb 2009, 23:39:33by Daniel_Plainview
January and February have been a bust; but the sh!t won't really begin to HTF until this spring.
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 00:01:06by Voice_du_More
Jesus will be returning for the finale not long after every living thing in the sea dies. So right now we just have a major correction in progress and a wake up call about how and where we get our energy. Soon we will see whether this is just another economic speed-bump or something much deeper and meta-physical (ie the return of Christ.) My money says it is the birth pangs Jesus mentioned in Matthew 24, and is also called the seven seals in the Book of Revelation. How long do they last? Well birth pangs can be excrutiatingly drawn out both for the mother and the father and family and friends, but then suddenly labor comes upon us. The contractions start and then go away as the obyd prepares for labor, then the regulars start and typically slowly become more frequent and more intense until they are about 5 minutes part for many hours. then you expect labor to be very near. The next thing you know you are sleeping on a cot and bright lights get turned on and somebody says 'Are you holding a leg or not?' Then the heavy labor begins lasting from 7 minutes to 6 hours, Hopefully the baby comes out this way without the need for foraceps or a c-section. That about describes what is coming. The Dow needs to taste 5900 before it understands that 6800 is a righteous number. Along the way we also have to understand again that a home is a home, a stock is a stock, a bond is a bond, and none of them are ATM machines.
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 00:10:38by heroineworshipper
As far as the American voters are concerned, & it really is about them & not Ubooho, there shouldn't even be a stock market. All your assets should belong to Allah.
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 03:37:24by joewp
Just to inject some reality into this fake two-party-different-sides-of-the-same-coin discussion going on here, this crash was inevitable once oil production hit a plateau in late 2004, with increasing demand. The crux of the matter is our economic system is based on constant growth in a finite environment which is impossible. We're just hitting one limit to growth, of which we have been warned for decades about. To attempt to blame it on one party or another's policies is to ignore the reality that it was going to happen no matter what.
Personally, I blame both parties and 99% of the US population for ignoring the simple fact that growth can't continue in a finite environment. Perhaps some of you need to watch this video lecture:
(Work warning: Begins playing immediately)
http://www.updebate.org/phpBB2/viewtopic.php?t=11649By the way, since the stock value of corporations is based on their perceived future growth, eventually the Dow will hit a big fat 0, probably much sooner than most of you could ever imagine.
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 04:01:56by Daniel_Plainview
joewp wrote: ... this crash was inevitable once oil production hit a plateau in late 2004, with increasing demand. The crux of the matter is our economic system is based on constant growth in a finite environment which is impossible. We're just hitting one limit to growth, of which we have been warned for decades about. To attempt to blame it on one party or another's policies is to ignore the reality that it was going to happen no matter what. ..... the simple fact that growth can't continue in a finite environment.
It's so completely obvious, yet this basic truism eludes every politician in every echelon of government. Mindboggling.
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 04:11:14by SeaGypsy
Like watching yeast get drunk& forget to stop multiplying before consuming all the available sugar or drowning in their waste.
And humans think we are intelligent
Re: Dow index value less than half its peak
Posted:
Sat 28 Feb 2009, 13:44:51by TWilliam
joewp wrote:Just to inject some reality...
You are of course right, Joe. Tho' that doesn't stop a goodly number of of idiots from insisting that it has absolutely nothing to do with anything. After all, math is "just more leftist alarmist conjecture." What a f*cking moron...
