Why do I have the sudden urge to throw my arms up and scream?
Posted on 08/08/2011 1:39:50 PM PDT by NoLibZone
Wall Street tumbled again Monday, with the Dow Jones industrial average dropping 635 points and chalking up its Worst day since November 2008, amid a rout in global stocks after rating agency S&P downgraded the U.S. credit rating for the first time.
S&P cut the long-term debt rating for the U.S. by one notch to AA+ from AAA late Friday. The move wasn't unexpected, but it comes when investors are already feeling nervous about a weak U.S. economy, European debt problems and Japan's recovery from its March earthquake.
The downgrade sparked a massive sell-off on stock markets around the world Monday. The Dow Jones industrial average fell below the 11,000 level for the first time since November, while the technology-laden Nasdaq composite fell more than 6 percent.
Speaking on the downgrade issue at the White House Monday, President Barack Obama said the U.S. will always be a AAA-rated country despite what rating agencies say, and he urged lawmakers to work together to tackle the nation’s deficit.
“We didn’t need a rating agency to tell us we need a balanced, long-term approach to deficit reduction,” he said. “My hope is that Friday’s news will give us a renewed sense of urgency.”
(Excerpt) Read more at today.msnbc.msn.com ...
Hussein’s fault.
Some buyers will show up tomorrow. If obama speaks or QE3 is mentioned it will go in the tank again.
People can’t put stock in our markets when the credit rating agencies don’t put stock in our president.
And the piece of sh*t Obamanation wants to raise our taxes now, after our retirements are wiped out.
“it’s the downgrade.”
If it wasn’t for that everything would be peachy keen... Right, msnbc?
Someone needs to tell him any time he feels the need to fire up the teleprompters, to play 18 holes of golf instead. However you want to say it, anything he touches turns to sh!t.
Looked like some kind of a "no confidence" vote to me....
Why do I have the sudden urge to throw my arms up and scream?
especially when Limbaugh was saying that the Fed was placing buy orders to try and prop him up. Too little too late, apparently.
Another sad part is that somewhere Soros is making millions! Sickening.
We obviously need to raise taxes an print more money to get the economy moving again....................
Next up youtube clip: eTrade baby jumping out of his window. Maybe hanging himself with his blanket.
It needs a large correction, so this is healthy.
All we need is more bipartisan work and another round of stimulus spending!
BWAHAHAHAHAHAHAHAHA!
Welcome to the end of america.
Wish somebody that’s not a technotard like me...would post a video of Obama giving his speech with a real time graph of todays market right next to it. That would be real interesting, don’t ya think? A clear visual for all the losers who don’t get what’s happening!
the stage is set for another pump and dump
I said this same thing to my wife this morning. The money is going somewhere.
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