Posted on 10/28/2009 2:58:25 PM PDT by blam
Wall Street Tumbles On Recovery Woes
Wed Oct 28, 2009 5:36pm EDT
By Ellis Mnyandu
NEW YORK (Reuters) - U.S. stocks tumbled in a broad sell-off on Wednesday, sending the benchmark S&P 500 lower for a fourth straight day, after weak data on new home sales heightened concerns about the pace of the economic recovery.
Financials, technology, materials and industrial sectors, which underpinned the market's advance from March, bore the brunt of the slide as investors reassessed their bets.
"The housing data definitely created an additional leg down in the market," said Mike O'Rourke, chief market strategist at institutional brokerage firm BTIG in New York. "A lot of people realize that we're correcting right now and are being cautious."
[snip]
(Excerpt) Read more at reuters.com ...
What a shockingly unexpected surprise!
Must be Bush’s Fault
I may take that step forward with some ideas to achieve their ambitions if no one else is up to it.
It's not like I'm a novice or anything. In 1969 when I returned from serving in the US Army Infantry I discovered that a carryover Johnson program called "Project 100,000" was still languishing at the old Post Office Department. The Republicans were quickly taking over the agency and killing off the Democrat initiatives (most of which really deserved to be gotten rid of) but they'd missed this one so I moved fast ~ within about 2 months time I'd moved some roadblocks and this allowed about 100,000 GIs to get jobs as carriers, clerks, mailhandlers and MVS drivers.
Among other things this also required a re-do of the old Clerk/Carrier Examination ~ which I gutted and replaced with a test that would indicate if you were safe walking around a big building full of heavy rolling stock and moving machinery (which is still pretty much the test to this day).
Now, how to employ 15,000,000 unemployed young men ~ first, they need to know there are jobs somewhere even if we have to shoehorn them in. I think the first place to go is to our FreeRepublic signon list. Every employer here, however so small, should undertake to hire on ONE MORE GUY. Our lawyer crowd should be prepared to do a bit of pro-bono work in case feminist infiltrators attempt to stop this. They can be tied up easily if we put or minds to it.
That's a start ~ but just one more employee is going to put a major multi-hundred thousand dent in the count of newly unemployed men in the next month.
Next, we must demonize the Democrats as being UNCARING and interested only in keeping the good jobs for their friends.
That requires several hundred Feepers to begin round-robin visits to all the major blogs raising the issue of how President Goober is encouraging further unemployment.
I'm sure other ideas can be advanced.
Why are your comments related to just getting men employed? or does it just read that way?
bm
You can ask any historian who knows anything about the Weimar Republic where that situation led the German Republic!
Yes it's about guys ~ 'cause unemployed young men can and do take over blocks in the hood, your city, my state, our country or even empires.
The Obama Regime has let things deteriorate to such a desperate situation for these young men that it's probably not possible for them to fix the problem. That means "WE THE PEOPLE" are going to have to do that before someone capable becomes our dictator!
I feel like we are on a roller coaster where we are at the top of that first big climb and in the very front car. Even though we’re on the downward side, the back of the “train” is on the other side holding us back - but just barely.
Give it three seconds, though...
Thanks for your answer. How dare I asked? Goodness that is simple, because I can.
Unexpected!
You should READ FIRST.
I did read. I just couldn’t believe what I was reading.
I hate that picture, it scares the crap out of me.
Do you perhaps think that women and men are identical in structure and behavior (outside of considerations for merely cosmetic sexual equipment)?
No one should be posting at FR who doesn't have at least a passing acquaintance with the way Alexander the Great solved the Macedonian Empire's unemployment problem among Greek speaking young men (as one example), or how Rohm and the SA along with Hitler and his gang, ended Germany's unemployment among young men in the 1930s.
A good case can be made for Napoleon having done essentially the same thing.
A cursory review of human history will quickly reveal that young men make the best soldiers ~ particularly when they are highly motivated!
I've been kicked out of better places than that guy's program.
I agree with you. People don’t realized that keeping “the people” at work and self sufficient is how you keep them from turning Communist, etc.
One can read the history on the rise of Nazism in Germany and the shifting attitude of the people of Germany as the situation changed.
High unemployment is very dangerous for a culture. It can be fatal.
The resources are already there to do this ~ but what I want to do is destabilize the building social revolution (take over by an army of the unemployed) by creating jobs ~ literally creating them ~ shoehorning them into the existing structure even if it requires breaking a few labor laws, and certainly tax laws, to make it possible for employers to hire more guys.
If we leave this problem up to the Democrats we'll have a dictator ~ not Obama or any of that crowd ~ taking over this country and then using our residual but still vast power to take over the rest of the world.
As nice a bunch of people as we know ourselves to be, I have no doubt such an event would lead to a new and very longlasting Dark Age for the greater part of humanity.
The critical component in the North's victory was the vast numbers of unemployed young men in Ohio, Indiana, Illinois and Wisconsin.
General Grant, from Ohio himself, had failed in business due to the same economic conditions that made almost all of his friends, neighbors and fellow Midwesterners UNEMPLOYED.
Grant arrived on the scene knowing that those men needed little motivation to go and do battle and crush the South.
Thank God Grant and the other Union generals were fundamentally good men.
blam, thanks for finding all these interesting economic articles that you post. Did you read that CIT is filing for bankruptsy in the near future. I think I read that in the NY Post. Things don’t look so hot.
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