The stock market is not doing well. The Dow Jones industrial average fell below 10,000 for the first time since 2004, and is currently down 440 points. [NYT]

Comments

Edit Your Comment

  1. tande04 says:

    Well thank god the bailout package stopped the slide of my 457 and other stock investments…

    Wait a minute.

    • Jonbo298 says:

      @tande04: I know! It’s awesome our economy has tanked even harder with the bill passing. I mean, Bush and most politicians sang this as the shining beacon of hope for us all. Taxpayers will be greeted as liberators by Wall Street!

      Yes, that was dripping with sarcasm in case it wasn’t obvious.

      • pezhore says:

        @Jonbo298:

        Well, at least I can tell some people at work “I told you so…” Unfortunately that comes at the expense of my somewhat limited investments.

    • papahoth says:

      @tande04: It would be worse without the bail out. Not one dollar of that bail out has been spent yet. Do you think us having a dead credit market would make the rest of the world’s dying credit better? There is no guarantee the bail out will save us from collapse, but doing nothing will guarantee collapse.

  2. OletheaEurystheus says:

    I promised my friend we would be under 10,000 in a week even if the bailout happens. I was off by 3 days.

  3. Bladefist says:

    The bailout isn’t going to work until the government writes the check. Which is in like a month at least. I’ve been tellin ya, our government is run by a bunch of idiots. What are the intellectual requirements to be in congress? These guys are 100% political and reactionary. Never proactive, never looking out further then the next election.

    • The_Gas_Man says:

      @Bladefist:
      Unfortunately, the bailout probably isn’t going to work after the check either. The market has the capability to recover on its own.

    • papahoth says:

      @Bladefist: See I can agree with you.

    • @Bladefist: Voting for the Iraq war was a mistake, but voting for the war AND the bailout is inexcusable. Now we have to pay the tab for both. These people are morons. Bush said it himself: “Fool me once, shame on you. Fool me twice…”

      • papahoth says:

        @postnocomments: Voting may not have been a mistake, but letting these morons actually do it and screw it up was a mistake. And they screwed up Afghanistan too. The administration with all the foreign affairs geniuses, and they called Rumsfeld a genus too, were a bunch of arrogant pricks that given the choice of doing the right thing or the wrong thing, always managed to pick the wrong thing.

  4. The bailout isn’t going to work anyway…band-aids on bullet holes.

  5. thinkliberty says:

    Good job baby boomers. You killed America. You took the American dream and turned it in to a nightmare.

    That bailout for the bankers was America’s ‘Berlin wall’ falling.

    • The_Gas_Man says:

      @thinkliberty:
      Wasn’t the Berlin wall falling a good thing?

      BTW, where are you getting off blaming the baby boomers? Blame liberals in Congress for forcing lenders to loan money to people who couldn’t pay it back.

      • OletheaEurystheus says:

        @The_Gas_Man: Oh get bent, nobody, liberal OR conservitive forced ANYONE to sign the bad loans they where handing out. They relaxed requirements yes, but they where still in place enough to prevent 80% of the bad loans that ended up out there from being signed had they been put through right.

        There where a LOT of bad forces at work, but it wasnt ONE party who caused it. Unless you missed it, it was a REPUBLICAN congress under the DEMOCRATIC Clinton who originally voted in those loans, it was the current Dems who didnt want to stop it once the republicans realized the mess they had made.

        Both parties screwed up in this one, but by the time regulation could have happen it was already too late and the few republicans calling for it had been calling for it from day 1, because they where TRUE republicans, fiscally conservative republicans and not Bush crony Neo-Cons.

      • Rectilinear Propagation says:

        Blame liberals in Congress for forcing lenders to loan money to people who couldn’t pay it back.

        @The_Gas_Man: That doesn’t explain why they gave sub-prime loans to people with good credit too.

  6. karlrove says:

    If Wall Street doesn’t start acting grateful, I may just have to ask for my money back.

  7. timmus says:

    Ha ha… last week people were saying “NOW is the perfect time to buy!”

    • tande04 says:

      @timmus: I was thinking the same thing today. I can’t get any lower then this, better buy.

      Then I remembered I’d been saying that all week long…

      Maybe tomorow.

    • @tande04: <advice type=”investment” class=”armchair”>The chances that you’ll time any purchase well enough to get in at the lowest point are pretty slim. It’s sufficient to get in when it’s lowish.

      Or, if you’re making a big purchase, you might spread it out over the next few weeks and let averaging work for you.</advice>

  8. Crymson_77 says:

    Patience! :)

  9. Grabraham says:

    I am just glad I took all my money out of the failing banks and stuck it in the stock market where it can grow :D

  10. KyleOrton says:

    Please define “not doing well.”

    Thank you kindly.

    PS – Maybe a VP who can clean and cook a moose is an advantage in an economy of poaching and scavenging.

  11. pezhore says:

    Just over an hour later, and the dow is down nearly 530… Lets seen an down 100 points an hour, means by close we’ll be at ~9500. Hello recession!

  12. moore850 says:

    Gee, I can’t wait for Wednesday/Thursday when the short selling ban goes away…