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Stocks plunge on economic fears [Vacation Time!]
CNN Money ^ | August 18, 2011 | By CNNMoney staff

Posted on 08/18/2011 6:55:22 AM PDT by Oldeconomybuyer

NEW YORK -- Turmoil returned to U.S. stock markets at Thursday's open as renewed concerns about the global economy sent major indexes plunging and pushed gold to a new record high.

Investors were working through bad news on various fronts, including a dismal forecast from Morgan Stanley for global economic growth, and two U.S. government-issued reports on inflation and the job market.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: barackalypsenow; bhoeconomy; bhofascism; bhovacation; gold; market; nobama2012; obama; obamageddon; stockmarket; stocks
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1 posted on 08/18/2011 6:55:24 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

Oh shaddup, he is eatin’ his waffles and ice cream and deckin’ out to hit the links while he comes up with a new way to sell the same failure and blame those republicans.


2 posted on 08/18/2011 6:59:05 AM PDT by dforest
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To: Oldeconomybuyer

Obama’s bus tour was a traveling flash mob.


3 posted on 08/18/2011 7:00:42 AM PDT by Darteaus94025
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To: indylindy
Oh shaddup, he is eatin’ his waffles and ice cream

Somebody needs to come up with Obama Double Dip cones.

They can be chocolate and vanilla, of course.

And covered in bullsh!t.

4 posted on 08/18/2011 7:01:26 AM PDT by the invisib1e hand
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To: Oldeconomybuyer

5 posted on 08/18/2011 7:01:49 AM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Oldeconomybuyer

And now the flash mob arrives in Martha’s Vineyard.


6 posted on 08/18/2011 7:01:54 AM PDT by Darteaus94025
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To: Oldeconomybuyer
This is all the more reason why Obama may even face the possibility that the Democratic National Committee will ask him NOT to run for re-election. Despite what the MSM says, I think the internals among Democratic pollsters show that Obama now faces a defeat on at least the scale of 1980 on November 2012.

With more and more companies and Americans closing their pocketbooks out of fear of coming really bad times, Obama's attitude is lowering confidence that he could guide the American economy out of its current doldrums.

7 posted on 08/18/2011 7:02:09 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: Darteaus94025

I would have expected the markets to be more calm with Obummer out of DC.


8 posted on 08/18/2011 7:03:09 AM PDT by RadiationRomeo (Step into my mind and glimpse the madness that is me)
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To: Oldeconomybuyer

The DJIA id down 335 as I post.

9 posted on 08/18/2011 7:04:00 AM PDT by blam
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To: Darteaus94025
A couple o'mill for two busses for 3 days ?

This makes sense, how ?

Drug smuggling?

Is Mena shut down ?

10 posted on 08/18/2011 7:04:58 AM PDT by knarf (I say things that are true ... I have no proof ... but they're true)
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To: blam

The DOW dropped 100 points as Secretary Clinton was speaking!


11 posted on 08/18/2011 7:05:17 AM PDT by relee ('Till the blue skies drive the dark clouds far away)
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To: blam

10 year treasuries now below 2%.


12 posted on 08/18/2011 7:05:42 AM PDT by Leroy S. Mort (Fiat justitia ruat caelum)
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To: Oldeconomybuyer

The Philly Fed and existing home sales report just came in really really ugly and the markets dived.


13 posted on 08/18/2011 7:05:51 AM PDT by Free Vulcan (Obama/Biden '12: No hope and chump change.)
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To: Oldeconomybuyer

14 posted on 08/18/2011 7:05:53 AM PDT by Diogenesis (No man's life, liberty, or property is safe while the legislature is in session. - Mark Twain)
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To: blam

Dow now down over 500.


15 posted on 08/18/2011 7:07:29 AM PDT by kristinn (Lowering the IQ on FR since Jul 31, 1998)
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To: Beelzebubba

Dow now down 500 points at 10,904 and dropping.


16 posted on 08/18/2011 7:13:28 AM PDT by spokeshave (Obamas approval ratings are so low, Kenyans are accusing him of being born in the USA.)
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To: kristinn

and to think, I bought my first gold yesterday based on a heavy sinking feeling


17 posted on 08/18/2011 7:14:31 AM PDT by silverleaf (The super rich do not pay taxes, they collect taxes.)
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To: spokeshave

Awwwww, what the hell......I’m just gonna go fishin’.


18 posted on 08/18/2011 7:15:02 AM PDT by Roccus (Obama & Holder LLP, Procurers of fine arms to the most discerning drug lords (202) 456-1414)
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To: silverleaf
and to think, I bought my first gold yesterday based on a heavy sinking feeling

Can't eat gold.

19 posted on 08/18/2011 7:15:34 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Oldeconomybuyer

Zero OWNES this Economy.

IT’s ALL ZERO’s FAULT!


20 posted on 08/18/2011 7:16:16 AM PDT by roaddog727 (It's the Constitution, Stupid!)
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To: the invisib1e hand
Somebody needs to come up with Obama Double Dip cones.

They can be chocolate and vanilla, of course.

And covered in bullsh!t.

Michelle would batter-dip and deep fry hers, cover it in butter and sprinkles then have it as a snack before giving a talk on nutrition.

21 posted on 08/18/2011 7:17:13 AM PDT by AAABEST (Et lux in tenebris lucet: et tenebrae eam non comprehenderunt)
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To: All

NEW YORK, June 30, 2011 — The New York Stock Exchange will implement new circuit-breaker collar trigger levels for third-quarter 2011 effective Friday, July 1, 2011. Circuit-breaker points represent the thresholds at which trading is halted marketwide for single-day declines in the Dow Jones Industrial Average (DJIA). Circuit-breaker levels are set quarterly as 10, 20 and 30 percent of the DJIA average closing values of the previous month, rounded to the nearest 50 points.

In third-quarter 2011, the 10-, 20- and 30-percent decline levels, respectively, in the DJIA will be as follows:

Level 1 Halt

A 1,200-point drop in the DJIA before 2 p.m. will halt trading for one hour; for 30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m. or later unless there is a level 2 halt.

Level 2 Halt

A 2,400-point drop in the DJIA before 1:00 p.m. will halt trading for two hours; for one hour if between 1:00 p.m. and 2:00 p.m.; and for the remainder of the day if at 2:00 p.m. or later.

Level 3 Halt

A 3,650-point drop will halt trading for the remainder of the day regardless of when the decline occurs.

Background: Circuit-breakers are calculated quarterly. The percentage levels were first implemented in April 1998 and the point levels are adjusted on the first trading day of each quarter. In 2011, those dates are Jan. 3, April 1, July 1 and Oct. 3.


22 posted on 08/18/2011 7:17:33 AM PDT by John W (Natural-born US citizen since 1955)
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To: John W

That’s useful info these days.


23 posted on 08/18/2011 7:20:10 AM PDT by the invisib1e hand
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To: concerned about politics

Can’t eat gold.


We’re talking about investments. I have plenty food for eating, but am weighing where one should put his savings.

Can’t eat Dow.
Can’t eat cash.
Can’t eat real estate...


24 posted on 08/18/2011 7:21:26 AM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: the invisib1e hand

“And covered in bullsh!t.”

Ya could use those brown, chocolate sprinkles. Would make a great cone!


25 posted on 08/18/2011 7:22:07 AM PDT by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: Darteaus94025
Obama’s bus tour was a traveling flash mob.

lol.

It's the busses that did it, I'm pretty sure.

The market is unbelievably forgiving, but once bs has been called, get out of the way.

When the president campaigns on taxpayer money and calls a "jobs tour," Miss Market squints her eyes and raises her fists.

26 posted on 08/18/2011 7:22:19 AM PDT by the invisib1e hand
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To: concerned about politics

can barter with it faster than paper money, if we ever need or want to liquidate

If I’d bought gold over the past 20 years (or even the past year), we’d be feeling good enough to be eating steak tonight instead of leftover pizza!


27 posted on 08/18/2011 7:22:33 AM PDT by silverleaf (The super rich do not pay taxes, they collect taxes.)
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To: indylindy

Go eat your peas, you peasants.


28 posted on 08/18/2011 7:23:24 AM PDT by unkus (Silence Is Consent)
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To: Oldeconomybuyer

You know what this calls for? A $50k per week vacation to Martha’s Vineyard! Woo-Hoo


29 posted on 08/18/2011 7:27:11 AM PDT by PogySailor (The ruling class will not go down easily. And neither will their paid hacks.)
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To: unkus

Maybe his little dinghy will sink the same way he is sinking the country.


30 posted on 08/18/2011 7:30:45 AM PDT by dforest
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To: silverleaf

Looks like a good buy. The Dow has settled in around a loss of 430-440 for now. Gold up $30ish.


31 posted on 08/18/2011 7:31:32 AM PDT by kristinn (Lowering the IQ on FR since Jul 31, 1998)
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To: Oldeconomybuyer

So what, Obama’s relaxing in Martha’s Vineyard.


32 posted on 08/18/2011 7:35:20 AM PDT by RockinRight (The ObamAA+ Downgrade)
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To: kristinn

If I can get some more coins today for the same price I paid yesterday, may do it

Don’t know why but it feels good to have it! The Midas syndrome? LOL!


33 posted on 08/18/2011 7:36:51 AM PDT by silverleaf (The super rich do not pay taxes, they collect taxes.)
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To: RayChuang88

I agree. At some point the dems will realize they have to cut their losses and will find someone to run against him. Even Maxine Waters has turned on him. And Maureen Dowd. Who actually is still supporting him???


34 posted on 08/18/2011 7:37:09 AM PDT by ilovesarah2012
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To: concerned about politics
Can't eat gold.

Yes, but we can eat Federal Reserve notes with salad dressing! Soon we won't be able to buy food with them either!

35 posted on 08/18/2011 7:38:36 AM PDT by April Lexington (Study the Constitution so you know what they are taking away!)
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To: Oldeconomybuyer

Rumor has it that a Gulfstream G650 is in route to Los Angeles.

Mooochelle demanded that barry get her a plate from Roscoe’s House of Chicken’ N Waffles.

http://www.roscoeschickenandwaffles.com/

In fact, the girl in the video on the homepage might even be related to Mooochelle.


36 posted on 08/18/2011 7:39:02 AM PDT by waus (FUBO UFCMF, Just in case I stuttered, FUBO)
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To: Oldeconomybuyer

if there is any justice, he’s gonna be tormented on this vacation.


37 posted on 08/18/2011 7:39:16 AM PDT by the invisib1e hand
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To: ilovesarah2012
If the Dems don't find a new candidate for 2012, they will be out of power for a decade or more. I can't believe they are running this fool. The Failed Obama Administration©
38 posted on 08/18/2011 7:39:53 AM PDT by April Lexington (Study the Constitution so you know what they are taking away!)
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To: April Lexington

I agree.


39 posted on 08/18/2011 7:41:27 AM PDT by ilovesarah2012
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To: RadiationRomeo
I would have expected the markets to be more calm with Obummer out of DC.

They're just gearing up for the "Major" speech Idi Obama is going to deliver next month on his "plan" to create jobs.

Meanwhile as Obama relaxes on Martha's Vineyard, a crack team of investigators is once again charged with finding the "Job Switch" in the White House basement.

"It's got to be in here somewhere boys. Reagan found it, Bush found it, keep looking!"

"Sir! Do you think it might also be next to the "Economy Switch?"

40 posted on 08/18/2011 7:42:58 AM PDT by N. Theknow (Obama and the Dems - The flash mob raiding the Treasury.)
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To: RadiationRomeo

He gave speeches. An Obama speech = -300 on the Dow. If he would just stay in MV until the election, the economy might recover.


41 posted on 08/18/2011 7:49:44 AM PDT by stop_fascism (Compared to Moctezuma II, Obama isn't that bad.)
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To: stop_fascism
He gave speeches. An Obama speech = -300 on the Dow. If he would just stay in MV until the election, the economy might recover.

I'd wish he'd buy the $50,000 a week house for good and stayed there permanently. I'm sure they have good golf courses. Plenty of ice cream shops for him and Michelle. Maybe they have a good BBQ rib place if not send one of Michelle's slaves to Texas every day for carry out.

42 posted on 08/18/2011 7:53:51 AM PDT by Dengar01 ("Liberalism is a Mental Disorder" - Dr. Michael Savage)
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To: waus

Good thing I’m up to date.... blocked a trojan virus from your link.


43 posted on 08/18/2011 7:54:51 AM PDT by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: Oldeconomybuyer

Hmmm. I don’t see him rushing in front of the cameras this morning. Guess he’s slithering off to the Vineyard.


44 posted on 08/18/2011 7:55:40 AM PDT by jersey117
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To: Oldeconomybuyer

I’d love to be a fly on the wall of Democrat National Headquarters right about now.

“So how do we kick this clown to the curb before he takes us ALL over the edge and into the abyss?”


45 posted on 08/18/2011 7:57:53 AM PDT by Buckeye McFrog
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To: April Lexington

“If the Dems don’t find a new candidate for 2012, they will be out of power for a decade or more.”

No, not so much. The GOP may sweep into power in 2012, only to be massively turned out in 2014 and 2016, repeat cycle until the Revolution.

America needs to be fundamentally transformed, but exactly the opposite the way 0bama wants to transform it. We need to:

1. END welfare (don’t reform it, END it).
2. Abolish the minimum wage.
3. Gut the EPA. Deny “standing” to environmental groups on their endless litigation that stops economic activity.
4. Gut the NLRB and enact universal “right to work” legislation in all 50 states.
5. Abolish contingent fees for plaintiff trial lawyers; force the losing attorney (not party) in a product liability lawsuit to bear the winner’s legal costs.
6. Abolish the Department of Energy and get government out of the way of energy production, stop subsidizing inefficient energy sources.

ALL of these things need to be done to turn this country back around. They are fundamental changes to what America has become. The problem is that the American people and the national leaders of both parties lack the political will implement even ONE of these changes. So while we head for 3rd world status, the political pendulum will continue to swing wildly back and forth because people want “something” done but they don’t want to do what NEEDS to be done.


46 posted on 08/18/2011 8:03:39 AM PDT by henkster (The Federal Reserve is the enabling housewife to an alcoholic husband.)
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To: Oldeconomybuyer; KeyLargo; Oldpuppymax; Quix; blueyon; stephenjohnbanker; dep; Pelham; ...
SEC Whistleblower: Feds Destroyed Evidence Of Thousands Of Wall Streets’ Worst Crimes !

So much for our corrupt federal government investigating any Wall Street Crimes. We are being attacked by financial terrorists -- High level criminals own our whole freaking government

47 posted on 08/18/2011 8:09:14 AM PDT by ex-Texan (Ecclesiastes 5:10 - 20)
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To: Buckeye McFrog

I’d love to see Boehner grow a pair and call congress back and beat Obama to a jobs and growth plan. Let him vacation. The longer he’s gone the better.


48 posted on 08/18/2011 8:12:55 AM PDT by No Socialist
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To: kristinn
Soros shorts euro, long on dollars, compared to other fiat currencies our dollar has the most thin air propping it up. Jack Maybolt
49 posted on 08/18/2011 8:14:18 AM PDT by urbanpovertylawcenter (where the law and poverty collide in an urban setting and sparks fly)
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To: knarf

“A couple o’mill for two busses for 3 days ?”

That’s one pricey prostitute!


50 posted on 08/18/2011 8:14:31 AM PDT by Serf Zupp
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