Skip to comments.Oh It's Not 2008 Eh?
Posted on 10/04/2011 7:31:48 AM PDT by rokkitapps
Oh It's Not 2008 Eh?
That's what all the crooners want you to believe.
Today is 10/4. Yesterday the S&P closed at 1099.
It also closed at 1099 on that same day in 2008.
Over the next month and a half it would fall to 750, rally for a couple of months to about 900, and then collapsed to 666.
Are we about to have a repeat - or a rhyme?
Good question. This much is not in question - we were down massively yesterday, and today Europe's DAX, as I write this, is off a further 34%. (ed: oops - that 3% was good for 20 minutes; now it's 4%)
What does a crash look like? About like this. And there's been nothing - a literal nothing - out of our authorities on the root causes or addressing them.
Most-importantly, Republican leadership, including but not limited to those who have screamed the loudest about the IMF and other "entanglements" have been SILENT about the root of this dislocation. NOT ONE DAMN WORD HAS PASSED THE LIPS OR KEYBOARDS OF BOEHNER, McMORRIS-ROGERS, McCONNELL, RYAN AND OTHERS ON THE RAW ABUSES AND SCAMS THAT LED TO AND IS FEEDING THIS MARKET COLLAPSE.
Denninger should just write what he think is happening and not get so emotional when political leaders don’t take his advice.
‘NOT ONE DAMN WORD HAS PASSED THE LIPS OR KEYBOARDS OF BOEHNER, McMORRIS-ROGERS, McCONNELL, RYAN AND OTHERS ON THE RAW ABUSES AND SCAMS THAT LED TO AND IS FEEDING THIS MARKET COLLAPSE.’—
I DIDN’T SEE THE NAME OF THE PERSON ‘THE BUCK STOPS HERE, OBAMA’ IN THAT LIST.
I didn’t notice about Obama, didn’t mean to post something slanted that way, just interested in the financial collapse stuff. Obviously, most of the fault lies with Barry...
KD’s point is that the Republican “opposition” is silent.
been there done that (in more ways than one!): its-2008-only-more-so