Posted on 8/26/2010, 8:46:40 PM by Kartographer
The Dow closed below 10,000 on Thursday for the first time since early July a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by the Federal Reserve chairman.
According to the latest available figures, the Dow Jones industrial average (DJI:^DJI - News) dropped 74.25 points, or 0.74 percent, to 9,985.81. The Standard & Poor's 500 Index (^SPX - News) lost 8.09 points, or 0.77 percent, to 1,047.24. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 22.85 points, or 1.07 percent, to 2,118.69.
The last time the Dow finished below 10,000 was July 6.
(Excerpt) Read more at finance.yahoo.com ...
Obama will end his Martha’s Vineyard vacation Sunday with a flight to New Orleans. The White House provided details about a wide-ranging White House effort to mark the fifth anniversary of Hurricane Katrina’s landfall there.
Unicorns eh...paging PeWe Herman......
>The Zero Syndicate will do all they can to keep the Dow above 10k before the elections, just as they’ve fixed the numbers to keep “official” unemployment below 10%.
Question: What do you think the DOW go to after the election?
My Guess: About 3000.
Question: What will the “official” unemployment numbers become after the election?
My Guess: 20%-26%
Summer of Wreckovery...
This Dow sh!t is just a red herring; if they said it passed 30,000 would our lot be any better? For most Americans there is a total disconnect between “the Dow” and “jobs/income”.
Of course they would. Cheaper wages abroad aren't the only factor in siting a business. Extraordinary levels of corporate taxation and regulation are major impediments.
Manufacture is helped by low wages, but also by low taxes, sane levels of regulation, good infrastructure, an educated workforce, reliable energy, a culture that protects and respects property, a stable and non-arbitrary government and a short supply chain to the ultimate consumer.
America has most of these. Its high corporate taxes, insane EPA regulation and arbitrary seizure of property (see: General Motors) are all fixable.
“”I’ve been advising my parents to get out for almost 3 years now. I dunno if they will or not. I wish I could find the documentary again, it was a good one, in my opinion.””
I pulled out in January- my broker was able to lock me
in at a Guaranteed 3% + rate. first, I hope I am safe-
Second, they will not even guarantee a 1% rate now!
were screwed
I appreciate your opinion but I would rather have the statement of business leaders that they would restore the jobs of those laid off if the government would .....................[fill in the blanks with tax rate cuts, etc].
Personally I believe that money in the hands of consumers is what business really needs. But neither your opinion, mine, or political leaders spouting what business needs, counts.
Lets hear from the ones that hire. They have been silent.
Some extraordinary film footage though... those clips of the jackrabbit roundups and the black dust storms were something else!
Actually I’m fine with him staying on vacation for the rest of his term - as long as it means he enacts no more of his economic policies.
Fully agree, I am purposely not making large purchases to make sure that Obama fails. Every good conservative should do the same.
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