WHY is the DJIA crashing?

[bigrebnc1775]

Really..it's not about "taxing the rich". It's about making labor equitable.

There's no reason one guy at a company is making 21 million dollars a year while the guy breaking his back on the loading dock at the same company comes home with 43,000 dollars a year.

That's ridiculous.

And it's a major part of the reason we are in so much trouble.

You're paid to m uch if you are paid 25 cents on the hour.

What?

If you make 25 cents on the hour your still paid way to much. Is that better?

 

[bigrebnc1775]

Some on the right are,,right and some of the left are,,,right.
But all this partisanship piling on!!!!!

It's not being partisan to oppose something when you see that it is wrong.

 

[waltky]

Uncle Ferd says it's cause, in spite of the debt deal...

... the US gonna lose its AAA rating anyway...

... an' the euro gonna drop like a fishin' line with a 12oz. sinker...

... cause o' all dat Italian and debt o' Greece.

 

[OohPooPahDoo]

FDIC is backed by a pool that is funded first by insurance premiums paid to the pool by the banks.

AND GUESS WHAT THE FDIC INVESTS THOSE PREMIUMS IN?

(three guesses, 1st 2 don't count).

If it is exhausted, then it is backed by the US government.

Not without an explicit law providing the funds and those funds have to be raised by selling - GUESS WHAT? (same rules)

Practically, not raising the debt ceiling would have had no effect on bank deposits since there are significant funds in the pool.

See first question.



HINT for 1st and 3rd questions: The FDIC's funds are invested almost exclusively in treasuries.

The FDIC isn't a bottomless pit of resources. If its investments (almost all treasuries) fail - it no longer has any money - and it then can't back the deposits of failed banks. The only way it could then is by law passed by Congress - and that will take at least a few days to get passed with all the dickheads in Congress - and by then, it will be too late.

 

[Too Tall]

Wall Street Pummeled: S&P Plunges Into Correction Range - FoxBusiness.com

The liberals on this web site think this stuff is a joke
it was not funny in 2008m and it damn sure is not funny in 2001 after spending trillions in so called fixes

It no longer matters whose information you use
Heritage or CBSs
its a wreck and it is getting worse

Happy birthday Mr President. YOURE DOING A BANG UP JOB.

Is this the same President that took his private jet, AF-1, to Chicago for a birthday bash and raised all kinds of hell when GM executives came to a meeting he called in a much smaller bizjet?

Just asking!

 

[NYcarbineer]

Boehner said they got 98% of what they wanted in the debt ceiling deal...

...this market reaction, I guess, is an acknowledgement of that.

 

[OohPooPahDoo]

"The more you tax them the harder their CPAs work to offset those taxes... Ask John F'in Kerry and his wife...

As I said, You could tax "the wealthy" at 100% and it won't make a dent in our country's problems... "

No one is suggesting the wealthy be taxed at 100%. Maybe you said that, but not me. So what's your point?

So give up and be a Pub Dupe- hope the greedy rich take pity on you and you can get some scraps. Typical Pub tool...Kiss up, kick down...

Tax revenue as a pct of GDP is historically very low, there is room to increase revenues by tax increases. I'm sorry factual reality doesn't jive with what your overlords have told you the truth is.

No one is denying such logic.

The debate is whether or not this is the right time to increase taxes.

Afterall, we currentlky are at 9.2% unemployment with the liklihood of it being higher later this week.

And? Did the Bill Clinton tax increase cause more unemployment? The wealthy aren't creating jobs with their extra cash right now, they're socking it away in banks - and the banks aren't lending much of it out, it just sits there in a fed reserve account doing nothing.

 

[Sallow]

You're paid to m uch if you are paid 25 cents on the hour.

What?

If you make 25 cents on the hour your still paid way to much. Is that better?

Still not following you.

 

[Trajan]

Um..no.

The key is making the most of your government contracts and actually introducing regulations that make sense. The ipods, ipads, and a plethora of over goods are assembled in China. In fact..a good many of the apps on those devices come from off shore. Okay..then why the heck should Apple have the same access to our courts, roads, bridges, emergency services, and many other things the American government provides in addition to low interest loans, grants and contracts..if they aren't doing anything for it?

you've got to be kidding.....

In any case..the Conservatives got their way..no tax hikes..and a Trillion or so dollars are being slashed from government spending.

And the markets are panicing.

Good job boys.

Kidding about what?

The market took a nose dive this week.

And it's not because they were tickled pink about what happened in Congress.

Some of it was Europe..but most of it was due to austerity measures.

what the hell does what you just said, have anything to do with what I quoted and responded to?

 

[Sallow]

Wall Street Pummeled: S&P Plunges Into Correction Range - FoxBusiness.com

The liberals on this web site think this stuff is a joke
it was not funny in 2008m and it damn sure is not funny in 2001 after spending trillions in so called fixes

It no longer matters whose information you use
Heritage or CBSs
its a wreck and it is getting worse

Happy birthday Mr President. YOURE DOING A BANG UP JOB.

Is this the same President that took his private jet, AF-1, to Chicago for a birthday bash and raised all kinds of hell when GM executives came to a meeting he called in a much smaller bizjet?

Just asking!

And this is the type of thinking the Tea Party adheres too. It's got something to do with policy..it's got nothing to do with reality..what it has to do with is a seething hatred of the President.

Hence we have Hooligans who's only mission is to assure the failure of the President, no matter what the cost or what the damage.

 

[OohPooPahDoo]

Not true.

It would have meant your money in the bank would have been earning a higher rate of interest.

....

But you would have been able to go to the bank and demand your money without a problem..

Where do people come up with this stuff?

Not if it isn't there. Bank deposits are partially backed by U.S. debt, and the FDIC is entirely backed by U.S. Debt. Once the first bank run happens it will trigger others, so unless you're one of the first in line, you can't count on your deposit vaporizing as depositors withdraw credit by the trillions.

Wow...the fear mongering sure hit you hard.
No....such was never going to happen.
Yellowstone would have closed down...maybe the Smithsonian.

LOL! OK. I am sure that investors would buy that load of crap. Sorry but when you're revenues cover only 60% of your expenditures and you declare you're going to not borrow anymore money, only a moron wouldn't dump your debt.

 

[Charles_Main]

Wall Street Pummeled: S&P Plunges Into Correction Range - FoxBusiness.com

The liberals on this web site think this stuff is a joke
it was not funny in 2008 and it damn sure is not funny in 2011 after spending trillions in so called fixes

It no longer matters whose information you use
Heritage or CBSs
its a wreck and it is getting worse

It's simple, The markets have been going down down down for 10 days now. Only 1 day out of those 10 was there not a loss. Today was a massive sell off.

Worry about the Debt Deal, and Impending health Care mandates, and now disappointment with a deal that says loudly, "WE STILL DON"T GET IT" are driving money out of the Markets and into Gold and other more Dependable things.

Like I said in a thread I started before seeing this one. The Markets forecast the Future. How the markets do on a given day has more to do with what Investors think things will be like in 6 months than they do with what's going on that day. Clearly the Markets think we heading for pain.

Edit:for got to add,that of course a big part of today's sell off was Italy, But Italy does not explain the last 10 days of trading.

 

[OohPooPahDoo]

They do not realize that we have income coming in

No, we realize that.

 

[Sallow]

you've got to be kidding.....

Kidding about what?

The market took a nose dive this week.

And it's not because they were tickled pink about what happened in Congress.

Some of it was Europe..but most of it was due to austerity measures.

what the hell does what you just said, have anything to do with what I quoted and responded to?

Look.

It's not really worth discussing anything with you if you continue this obtuse act.

You can call me an idiot..and I can call you a jerk..

That's probably what you are hedging for in any case.

Nothing you post lately is all that interesting.

 

[eagleseven]

Hence we have Hooligans who's only mission is to assure the failure of the President, no matter what the cost or what the damage.

I assure you, Obama needs no help in failing. Virtually everything he touches fails, from sports teams to Libyan wars to the economy to the Chevy Volt.

Maybe if Obama *tries* to hurt the economy, it will start booming!

 

[Sallow]

Hence we have Hooligans who's only mission is to assure the failure of the President, no matter what the cost or what the damage.

I assure you, Obama needs no help in failing. Virtually everything he touches fails, from sports teams to Libyan wars to the economy to the Chevy Volt.

Right.

And Rick Perry magically plugged the holes in the Texas budget last year with Lucky Charms.

Because their magically delicious.

Oh wait..no that was money from the Stimulus package that did that.

And I am sure Osama Bin Laden's last thought wasn't "Man..I am glad Obama is such a failure..".

 

[Dr.House]

Kidding about what?

The market took a nose dive this week.

And it's not because they were tickled pink about what happened in Congress.

Some of it was Europe..but most of it was due to austerity measures.

what the hell does what you just said, have anything to do with what I quoted and responded to?

Look.

It's not really worth discussing anything with you if you continue this obtuse act.

You can call me an idiot..and I can call you a jerk..

That's probably what you are hedging for in any case.

Nothing you post lately is all that interesting.

Ironic post is ironic....

BTW, nice punt...

 

[Ernie S.]

Wall Street Pummeled: S&P Plunges Into Correction Range - FoxBusiness.com

The liberals on this web site think this stuff is a joke
it was not funny in 2008 and it damn sure is not funny in 2011 after spending trillions in so called fixes

It no longer matters whose information you use
Heritage or CBSs
its a wreck and it is getting worse

It is the worst drop since Bush was president.

So that was Bush's fault? He flew planes into the twin towers and the Pentagon?

 

[eagleseven]

Hence we have Hooligans who's only mission is to assure the failure of the President, no matter what the cost or what the damage.

I assure you, Obama needs no help in failing. Virtually everything he touches fails, from sports teams to Libyan wars to the economy to the Chevy Volt.

Right.

And Rick Perry magically plugged the holes in the Texas budget last year with Lucky Charms.

Because their magically delicious.

Oh wait..no that was money from the Stimulus package that did that.

And I am sure Osama Bin Laden's last thought wasn't "Man..I am glad Obama is such a failure..".

I imagine we're going to hear about OBL every day until Q3 2012? "You're unemployed, but OBL is dead! Let's Par-tay with two buck chuck!"

But please do continue talking about the stimulus. Make sure everyone remembers it.

 

[rightwinger]

We are headed for a depression again and Republicans are playing Hoover