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DOW Falls Below 10,000(Down over 300 Points)
DJIA ^ | 10-6-08

Posted on 10/06/2008 7:07:18 AM PDT by icwhatudo

DJIA just prior to House defeat of bailout: 10843

DJIA close the day after House defeat of bailout: 10850

DJIA just prior to Senate approval of bailout: 10831

DJIA close the day after Senate approval of bailout: 10482

DJIA just prior to House approval of bailout: 10679

DJIA close the day after House approval of bailout:??? 9999 and dropping

(Excerpt) Read more at finance.google.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: 110th; 2008; bailout; congress; corruption; democrat; democrats; demron; djia; elecitons; election; elections; financialcrisis; radicalleft
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To: Cold Heat

In fact, the US stock market could experience a boom next year because people realize that the European and Chinese stock markets are even more over-inflated than we are.


41 posted on 10/06/2008 7:25:21 AM PDT by RayChuang88
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To: icwhatudo

Obama’s fire in the Reichstag continues.


42 posted on 10/06/2008 7:25:37 AM PDT by Perdogg (Vice President Sarah H Palin - Make it happen !!!!)
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To: icwhatudo

Wow...boy it sure looks like all those Senators who “knew” better than their constituents that opposed the bill were right. Gee I am sure glad that we were wrong. /sarc


43 posted on 10/06/2008 7:26:33 AM PDT by IMissPresidentReagan ("Is it that you can't think or that you only know how to read your talking points?" Dick Morris- H&C)
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To: screaminsunshine

http://www.youtube.com/watch?v=rUEQz5dltmI

Hitler had the Brown shirts, Obama has the Blue shirts.


44 posted on 10/06/2008 7:27:07 AM PDT by Hacklehead (Crush the liberals, see them driven before you, and hear the lamentations of the hippies.)
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To: RayChuang88
The problem caused by the fact the rest of the world realizes they have the same problem the USA has--only worse. (Europe's bank situation is quite precarious and China is starting to realize their financial situation is even more precarious than the USA.) As such, it's the rest of the world that is dragging us down now.

DJIA 8500 could be where the stocks settle, while the rest of the world will suffer some very serious declines in stock value.

Now why did you have to go and add some sanity to this thread?

45 posted on 10/06/2008 7:27:08 AM PDT by BureaucratusMaximus (Game over man...GAME OVER!)
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To: cripplecreek

I wish I could vote for Ron Paul instead of McBama. That “looney” had it it nailed perfectly last year.


46 posted on 10/06/2008 7:27:26 AM PDT by Captain Kirk
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To: Cold Heat
The credit markets and their derivatives are not traded on the stock market.

I quite agree. What do you predict for the TED spread over the next couple of weeks?

47 posted on 10/06/2008 7:27:49 AM PDT by Notary Sojac
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To: icwhatudo

Because money is flooding into the bond market, as the price of bonds goes up the yield goes down.


48 posted on 10/06/2008 7:27:51 AM PDT by Captain Peter Blood
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To: icwhatudo

I think when we look back, this Wall St crisis was the Dems October surprise.

This was well coordinated scam amongst Paulson (Dem), Reid, and Pelosi, along with Soros’ billions manipulating the market.

Bush was taken along for the ride, per usual. I hate to say it but that SNL skit of him (w Frank and Pelosi) was spot on.

Unless something dramatic happens (like video of Michelle yelling “Whitey” or Obama in church during a vile Wright sermon) I don’t think he’ll recover.


49 posted on 10/06/2008 7:27:53 AM PDT by nhwingut (,)
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To: greatvikingone

It has not hit bottom yet, folks. We are talking about a dip well BELOW 9,000 coming. The fact is, a HUGE amount of dollars simply vaporized, resulting in what is a sharp deflation of the value of the dollar. The confidence game is not yet restored to the market, and may not be for weeks or months to come.

Meanwhile, we have an election coming up long before that bottom of the trough will be reached.

America is SO screwed. Yet if this country suffers only a severe upper respiratory infection, the rest of the world will surely contract pneumonia, of the most deadly variety.

One thing about it, there will a LOT less money available to arm up and go to war.

This is no longer a matter of too many dollars chasing too few goods and services. This is a matter of having NO dollars to chase ANY goods or services.

Economically, this is FAR worse than 9/11. Even if it has not (thus far) been nearly as bloody.


50 posted on 10/06/2008 7:28:43 AM PDT by alloysteel (Just because you are a target, does not mean you have to be a victim.)
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To: RayChuang88
True.......

You could add Europe to that list as well, as they are currently well into a recession. In many respects we are in much better shape and ahead of their curve.

Our currency is stable compared to theirs, and this is a good thing that is related to our Fed and central bank.

51 posted on 10/06/2008 7:28:59 AM PDT by Cold Heat (Well....................................That's .....that.........)
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To: MrB
Wow, amazingly, the free market doesn’t react well to socialism.

The free market does not exist now.
52 posted on 10/06/2008 7:29:11 AM PDT by mysterio
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To: twigs
Not at our bank (Wachovia). We locked in our mortgage last Tuesday at 5.875% and it went up several hours later. It hasn’t gotten back down to that rate yet. I watch it daily!

I'm waiting to close at 5.50%. We were supposed to close on the 30th but it's waiting on the lender to get it's paperwork straight with the gooberment. There are two more motgages waiting downstream on us.

53 posted on 10/06/2008 7:29:47 AM PDT by LTCJ (God Save the Constitution - Tar/Feathers '08)
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To: icwhatudo

Was talking to an economist who is also a director of a small, well-run CA bank, and she said they had a run . . . of money INTO their bank, in a flight to safety.


54 posted on 10/06/2008 7:30:31 AM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: alloysteel

dollars aren’t vaporized. Only the Fed can do that
it’s wealth that is vaporized. A contraction, not a deflation.


55 posted on 10/06/2008 7:31:19 AM PDT by ari-freedom (Betcha they're good. Why shouldn't they be? Their one mistake was giving up me!)
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To: RayChuang88

Unfortunately, I think you’re right. The trick is, to have money when it hits 8500, because once all this shakes out, there will be new highs down the road.


56 posted on 10/06/2008 7:32:00 AM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: alloysteel
This is a matter of having NO dollars to chase ANY goods or services.

Therefore, something will be occuring that will make the Great Depression look like the Rock and Roll times.

57 posted on 10/06/2008 7:33:06 AM PDT by Lazamataz (Secondhand Aztlan Smoke causes drug addiction obesity in global warming cancer immigrant terrorists.)
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To: icwhatudo
Interesting, why is the cost of borrowing money "decreasing"?

Rates for borrowing being set by politics rather than set by the market, are the cause of this entire fiasco.

58 posted on 10/06/2008 7:33:34 AM PDT by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: RayChuang88
Banks in Europe are allow to leverage to a higher degree than US banks. Also, the capital base in the US is **substantially** larger than that of Europe.

Thus, when a gearing (leveraging) crisis occurs, Europe REALLY takes it in the shorts. Euro down almost 300 pips today (Aussie down 500+ !)

59 posted on 10/06/2008 7:33:44 AM PDT by SAJ
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To: mtngrandpa

I think the U.S. dollar bear market rally has alot to do with oils decline as well as the prospects of a worldwide recession.

The 700plus billion dollar bailout is just the first serving in a 10 course meal. JMO.


60 posted on 10/06/2008 7:33:45 AM PDT by vietvet67
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