Worst day since 2008 financial crisis

[The_GiantNoodle]

Dear Lord...... what a HORRIBLE day on Wall Street! It COULD be blamed on Obama. It COULD be blamed on the GOP. Both are total crap.
This is a global meltdown. Its a little of us and little of Europe. I want to make this clear.... this is serious. This is NOT the time for partisan hacks to come out.

What I would like is to discuss this as adults. What can we do to make America better? And JUST not for the wealthy. And JUST not for the poor.

Put your thinking cap on.
AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole. I would love to see solutions but compromised. This is not owned by the Dems or the GOP alone.

Thanks!

Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.
"The conventional wisdom on Wall Street was that the economy was growing -- that the worst was behind us," said Peter Schiff, president of Euro Pacific Capital. "Now what people are realizing is the stimulus didn't work, and we may be headed back to recession."
U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets.
There's "total fear" in the market, said Bob Doll, chief equity strategistat the world's largest money manager, BlackRock.
All three major indexes tumbled more than 4% Thursday and erased all their gains for the year. The indexes have also pushed into "correction" territory -- defined as a 10% drop from recent highs. The Dow, Nasdaq and S&P 500 have all fallen 10% in just the last 10 days.

 

[percysunshine]

When the Russians and the Chinese start to buy, jump in with both feet.

 

[Tank]

By 2040 Hispanics will be the majority in America, then things should level off

 

[percysunshine]

By 2040 Hispanics will be the majority in America, then things should level off

Spain??? Spain???

What happened to the Bolshevek revolution?

At least it is not the French.

 

[expat_panama]

If it's solutions we want, what's obvious to most of us was stated nicely in This Too Will Pass - Investors.com:

"...Small businesses that create most of our new jobs now labor under the weight of hundreds of new rules and regulations, and the looming costs of ObamaCare. In July alone, according to Wyoming Sen. John Barrasso, more than 600 new regulations came on line, adding $9.5 billion to businesses' annual cost.

Once out from under the burden that's been placed on them, America's innovators and entrepreneurs will again lead us out of this mess. But first we have to look to the political system that adjusts to and corrects for such problems.

Unfortunately, the most-needed adjustment won't come until November 2012 — but come it will."​

...AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole...

LOL!!! --and Obama will quit blaming everything on Bush?

 

[SFC Ollie]

AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole. I would love to see solutions but compromised. This is not owned by the Dems or the GOP alone.

Compromise doesn't work. If you go with a real plan to create jobs (Which is what will fix the economy) then start to compromise it you are taking away its effectiveness. We added to the debt ceiling and pretended to cut the deficit. The smart money people know the truth. All we did was kick the can with a compromise.......

 

[rdean]

Dear Lord...... what a HORRIBLE day on Wall Street! It COULD be blamed on Obama. It COULD be blamed on the GOP. Both are total crap.
This is a global meltdown. Its a little of us and little of Europe. I want to make this clear.... this is serious. This is NOT the time for partisan hacks to come out.

What I would like is to discuss this as adults. What can we do to make America better? And JUST not for the wealthy. And JUST not for the poor.

Put your thinking cap on.
AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole. I would love to see solutions but compromised. This is not owned by the Dems or the GOP alone.

Thanks!

Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.
"The conventional wisdom on Wall Street was that the economy was growing -- that the worst was behind us," said Peter Schiff, president of Euro Pacific Capital. "Now what people are realizing is the stimulus didn't work, and we may be headed back to recession."
U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets.
There's "total fear" in the market, said Bob Doll, chief equity strategistat the world's largest money manager, BlackRock.
All three major indexes tumbled more than 4% Thursday and erased all their gains for the year. The indexes have also pushed into "correction" territory -- defined as a 10% drop from recent highs. The Dow, Nasdaq and S&P 500 have all fallen 10% in just the last 10 days.

Not just for the wealthy?

Helping the poor?

That's not how Republicans work. Sorry. Just being "real".

 

[kyzr]

Only the stupid buy stocks when the Hedge Funds can just sell stocks short steal everyone's investment, tuck it in an off-shore tax-free account, and then do it all over again.

The Feds need to stop the short-selling plundering of investment capital. Until they do there will be no increase in hiring, since there will be no capital expansions. IMHO short-sellers and derivatives are stifling the stock market and the economy. Imagine the "rising tide lifts all boats" stock market vs the mega-drops like today scaring-off potential investors.

Pols need to protect small investors and their 401Ks.

 

[rdean]

Only the stupid buy stocks when the Hedge Funds can just sell stocks short steal everyone's investment, tuck it in an off-shore tax-free account, and then do it all over again.

The Feds need to stop the short-selling plundering of investment capital. Until they do there will be no increase in hiring, since there will be no capital expansions. IMHO short-sellers and derivatives are stifling the stock market and the economy. Imagine the "rising tide lifts all boats" stock market vs the mega-drops like today scaring-off potential investors.

Pols need to protect small investors and their 401Ks.

But, Republicans want to throw those 401's into the stock market. You mean that's not a good idea?

 

[The_GiantNoodle]

Dear Lord...... what a HORRIBLE day on Wall Street! It COULD be blamed on Obama. It COULD be blamed on the GOP. Both are total crap.
This is a global meltdown. Its a little of us and little of Europe. I want to make this clear.... this is serious. This is NOT the time for partisan hacks to come out.

What I would like is to discuss this as adults. What can we do to make America better? And JUST not for the wealthy. And JUST not for the poor.

Put your thinking cap on.
AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole. I would love to see solutions but compromised. This is not owned by the Dems or the GOP alone.

Thanks!

Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.
"The conventional wisdom on Wall Street was that the economy was growing -- that the worst was behind us," said Peter Schiff, president of Euro Pacific Capital. "Now what people are realizing is the stimulus didn't work, and we may be headed back to recession."
U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets.
There's "total fear" in the market, said Bob Doll, chief equity strategistat the world's largest money manager, BlackRock.
All three major indexes tumbled more than 4% Thursday and erased all their gains for the year. The indexes have also pushed into "correction" territory -- defined as a 10% drop from recent highs. The Dow, Nasdaq and S&P 500 have all fallen 10% in just the last 10 days.

Not just for the wealthy?

Helping the poor?

That's not how Republicans work. Sorry. Just being "real".

I ask you that you STAY THE COURSE. Rich and poor.
I dont think its hit the wealthy yet. Thing is they NEVER want to be hit with it. Nor would I. Actually I think I am the wealthy.

 

[uscitizen]

If it's solutions we want, what's obvious to most of us was stated nicely in This Too Will Pass - Investors.com:

"...Small businesses that create most of our new jobs now labor under the weight of hundreds of new rules and regulations, and the looming costs of ObamaCare. In July alone, according to Wyoming Sen. John Barrasso, more than 600 new regulations came on line, adding $9.5 billion to businesses' annual cost.

Once out from under the burden that's been placed on them, America's innovators and entrepreneurs will again lead us out of this mess. But first we have to look to the political system that adjusts to and corrects for such problems.

Unfortunately, the most-needed adjustment won't come until November 2012 — but come it will."​

...AGAIN: NO bashing Parties! Please just suggest how we can get out of this hole...

LOL!!! --and Obama will quit blaming everything on Bush?

November 2012? Obama getting re-elected will fix nothing.

 

[expat_panama]

...we have to look to the political system that adjusts to and corrects for such problems. Unfortunately, the most-needed adjustment won't come until November 2012 — but come it will...

...November 2012? Obama getting re-elected will fix nothing.

The idea is we can point out the solution. The American voters decide whether they want the problem or the solution.

 

[Old Rocks]

Well, this started with de-regulating how banks did business. Then we had a Republican President that seemed to think that you could fight two wars and cut taxes at the same time. When the economy crashed, he took only half measures. The incoming Democratic President failed to explain just how serious the situation was and is, and did not take the neccessary measures, while he had the power to do so, to put in place programs to really address infrastructure decay, and to regulate the market to prevent further damage.

Then, to increase the damage, we have a bunch of know nothings now doing their best to destroy what is left of the economy. They are largely succeeding.

So, what could we do to prevent a complete meltdown? At this point, nothing. Seems we have a perfect storm of stupidity and greed, with large doses of incompetance and ignorance thrown in for good measure.

There are a good many of us out here who have made reasonable investments, investments that weathered 2008 with just a small loss, that now could lose it all, if this crash goes all the way. If we lose it, and the wealthy gain, or stay the same, things are going to change radically.

 

[SFC Ollie]

That's right, play the blame game.


BTW, today doesn't look any better....................

 

[editec]

Thre are no mechanisms to get a fair share of the money into the hands of the consuming public.

We once had such mechanisms but we have systematically destroyed them.

There was a time when trade worked in our favor. We changed the laws to destroy that advantage thus the middle class finds itself competing with third world wage owners.

There was a time when unions insured that the working classes made fairly livable wages, but the abandonment of unions right to collective bargaining and strikes puts that working class entirely at the mercy of managment.

There was a time when the very wealthy paid a larger share of the overall taxes, but they have enjoyed enormous reductions in taxes over the last 40 years, while at the same time they influenced the government to spend more and more on dubious wars of empire, thus forcing the government to borrow more and more of its operating budget.

Honestly, unless we change the political dynamic that allowed these foolish policies to happen, I see no path to changing these conditions which are leading to the erosion of the American way of life.

 

[SFC Ollie]

Thre are no mechanisms to get a fair share of the money into the hands of the consuming public.

We once had such mechanisms but we have systematically destroyed them.

There was a time when trade worked in our favor. We changed the laws to destroy that advantage thus the middle class finds itself competing with third world wage owners.

There was a time when unions insured that the working classes made fairly livable wages, but the abandonment of unions right to collective bargaining and strikes puts that working class entirely at the mercy of managment.

There was a time when the very wealthy paid a larger share of the overall taxes, but they have enjoyed enormous reductions in taxes over the last 40 years, while at the same time they influenced the government to spend more and more on dubious wars of empire, thus forcing the government to borrow more and more of its operating budget.

Honestly, unless we change the political dynamic that allowed these foolish policies to happen, I see no path to changing these conditions which are leading to the erosion of the American way of life.

The mechanisms to get a fair share of the money into the hands of the consuming public is called capitalism, and it works well when the government does not over regulate it.

The middle class does not compete with third world, they compete with Union scale.

The Unions raised themselves out of business. They did some great things for the country, the workers, and even the world. but they went too far.

The richest of us still pay the vast majority of the taxes. the poorest half pay nothing.

Where is this empire?