WHY is the DJIA crashing?

[Sarah G]

Why is the stock market falling? one word - Debt. Sovereign. Personal. Corporate. It's all about worldwide debt.

We are coming to the end of an year 80 debt super-cycle. The entire developed world (with very few exceptions) have borrowed themselves into a situation where the only choices they have are either bad decisions or catastrophic decisions.

The entire western world needs to deleverage and it will be very, very painful.

I've gotten a hint at 'painful' in the past year. I've been blessed that family and friends have helped me out, but I fear that the worst is yet to come. I hope I'm wrong, I often am, but seems we're heading for a global depression that will make the 30's look tame.

I have the same fear, Annie. I have been working consistently throughout Reagan, Bush, Clinton, Bush and now Obama. This is too sketchy for my taste.

 

[Ernie S.]

Half the Pub dupes on here are trolls, they're so brainwashed and full of misinformation.
Obama's popularity is holding steady at 48% but congress is now at 14!(NBC) LOL! You Pub chumps are looking HORRIBLE, AND CLUELESS.
Perry/Bachmann 1912!! pffffft!!

Yeah, right! As it stands now, obama looses to Charlie Sheen.

A generic Republican candidate now leads President Obama by five points in a hypothetical 2012 election match-up.

The latest Rasmussen Reports national telephone survey of Likely U.S. Voters shows the generic Republican with 47% of the vote, while the president picks up 42% support. Four percent (4%) prefer some other candidate, and seven percent (7%) are undecided.

Unfortunately, Charlie Sheen is not the Republican candidate.

As soon as you give "generic Republican" a name, that person is losing. The singular exception to that is a couple polls that had Romney tied with Obama. Republicans can't run "Generic" in the 2012 campaign.

The reason a named Republican doesn't poll as well is that there are a half dozen choices. Once a candidate is named, virtually all who favor "generic" will support that candidate

 

[8537]

Jobs growth up i54,000. unemployment down 9.1 %; futures up 68

In a world of awful expectations made more awful by yesterday's collapse, 54K is better than many feared.

Crappy shitty bad, but not as crappy, shitty and bad as folks feared.

Actually, it's significantly better than that, and private sector numbers beat expectations by a good margin:

+154,000 private sector jobs.
-39,000 government jobs
117,000 jobs.

Still piss poor, but much better than some feared - and upward revisions for the past two months.

Edit: perhaps i54000 in your post was a typo, meant to read 154,000? My apologies.

 

[Intense]

Bottom line, we need to learn to live within our means. Give Away's for votes solves nothing. Who are we kidding?

 

[saveliberty]

Yep, drink enough beers and ugly goes away.

 

[JRK]

Yeah, right! As it stands now, obama looses to Charlie Sheen.

Unfortunately, Charlie Sheen is not the Republican candidate.

As soon as you give "generic Republican" a name, that person is losing. The singular exception to that is a couple polls that had Romney tied with Obama. Republicans can't run "Generic" in the 2012 campaign.

The reason a named Republican doesn't poll as well is that there are a half dozen choices. Once a candidate is named, virtually all who favor "generic" will support that candidate

There will come a day when that generic GOP candidate will be one person and those votes that are split as we speak become one
It will not even be close

With respect what exactly is BHO going o run on?
Debt?
6 million lost jobs?
or killing OBL?
what else does he have?

 

[The Rabbi]

As usual Conservative America conveniently forgets the past - such as President Ronald Reagan asking Congress to raise the debt ceiling 17 or 18 times while in office. Where was the gnashing of teeth, pulling of hair or other protestations then? By all means, please don't let reality, facts or history get in the way of making it up as you go.

Obama's deficits are bigger than Reagan's entire budget. Reagan's deficits were a manageable percentage of GDP. Obama's are nearly the size of GDP.
It sure looks like we can't keep spending to avoid bankruptcy.
[ame=http://www.youtube.com/watch?v=LHFEcyUNBjg]‪Biden: We Have To Spend Money To Keep From Going Bankrupt‬‏ - YouTube[/ame]

Obama's deficits are "nearly the size of GDP"?!

Where did you hear that nonsense?

Whoops.
The debt is nearly the size of GDP.

 

[The Rabbi]

Jobs growth up i54,000. unemployment down 9.1 %; futures up 68

In a world of awful expectations made more awful by yesterday's collapse, 54K is better than many feared.

Crappy shitty bad, but not as crappy, shitty and bad as folks feared.

Wait until next week's revision of these numbers. I predict a serious downward revision.

 

[JRK]

The entire thing has so much spin with it

When GWB took office the UE rate was less than 5%, may have been less than 4%
from 01-03 we lost close to 2 million jobs. Without a a 1 trillion dollar promise to save or create anything we created close 7 million jobs in the next 4 years

That is being called the worst job creation period in our nations history

Today, Right-winger announces as soon as it is announced 150,000 jobs created for the month of July
and UE is at 9.1%

Hmmmm

 

[8537]

Jobs growth up i54,000. unemployment down 9.1 %; futures up 68

In a world of awful expectations made more awful by yesterday's collapse, 54K is better than many feared.

Crappy shitty bad, but not as crappy, shitty and bad as folks feared.

Wait until next week's revision of these numbers. I predict a serious downward revision.

Lol...next week's revision?

Here's a free lesson for ya: These numbers don't get revised weekly.

Did ya notice that the previous two months were revised upwards?

 

[The Rabbi]

In a world of awful expectations made more awful by yesterday's collapse, 54K is better than many feared.

Crappy shitty bad, but not as crappy, shitty and bad as folks feared.

Wait until next week's revision of these numbers. I predict a serious downward revision.

Lol...next week's revision?

Here's a free lesson for ya: These numbers don't get revised weekly.

Did ya notice that the previous two months were revised upwards?

OOPS! – U.S. Government Unemployment Numbers Have To Be Revised Because They Were Off By Almost One MILLION!

It's new claims that are revised weekly.

 

[Toro]

Wait until next week's revision of these numbers. I predict a serious downward revision.

Lol...next week's revision?

Here's a free lesson for ya: These numbers don't get revised weekly.

Did ya notice that the previous two months were revised upwards?

OOPS! – U.S. Government Unemployment Numbers Have To Be Revised Because They Were Off By Almost One MILLION!

It's new claims that are revised weekly.

Today was nonfarm payrolls. That will get revised next month. Last month was revised upwards.

 

[Sallow]

As usual Conservative America conveniently forgets the past - such as President Ronald Reagan asking Congress to raise the debt ceiling 17 or 18 times while in office. Where was the gnashing of teeth, pulling of hair or other protestations then? By all means, please don't let reality, facts or history get in the way of making it up as you go.

Obama's deficits are bigger than Reagan's entire budget. Reagan's deficits were a manageable percentage of GDP. Obama's are nearly the size of GDP.
It sure looks like we can't keep spending to avoid bankruptcy.
[ame=http://www.youtube.com/watch?v=LHFEcyUNBjg]‪Biden: We Have To Spend Money To Keep From Going Bankrupt‬‏ - YouTube[/ame]

Obama's deficits are "nearly the size of GDP"?!

Where did you hear that nonsense?

It's the new Conservative math.

1.4 trillion dollar deficit = 14 Trillion dollar economy.

By the way..when asked about what the economy was on the tube, Congressmen Joe Walsh was like..I dunno...3 trillion? 3.5 trillion?

 

[uscitizen]

The dems have done lots of compromising. Continuing the bush tax cuts, they compromised the health care reform into garbage that helps no one except the insurance industry.

Extending the Bush tax cuts being a compromise?
Ok

But the health-care reform bill had nothing to do with the GOP

You may be partly right on the health care reform bill, it was mostly paid lobbyists that slaughtered it.

 

[Sallow]

Bottom line, we need to learn to live within our means. Give Away's for votes solves nothing. Who are we kidding?

Yep..get a pickup with a snowplow.

You are also gonna need it for runs to the garbage dump.

 

[OohPooPahDoo]

I'm surprised some Obamabots are still functional...their hope and change batteries should've worn out years ago.

Obama campaigns with a message of change in the midst of economic depression - Republicans get 98% of what they want and the market crashes - its pretty clear what Republicans are aiming for. A shitty economy. You don't want things to change when the economy is shitty and wall street hates the laws you pass.

 

[Full-Auto]

aALL YOU REPUBLICANS ARE STUPD

Damn even Jake couldnt get me to post this one. But you managed. Congratulations

 

[Oldstyle]

What's amazing to me is how "happy" you libs seem to be with another dismal jobs number. Even your "boy" Paul Krugman understands that we need to add 300,000 jobs each month if we're going to see unemployment numbers go down and we are SO far from that it's not funny.

 

[BDBoop]

this is just the beginning.

the american economy was sustained for decades on a partnership between government and the middle class.

government taxed the wealthy in order to shore-up consumer demand. That is, government moved tax dollars into programs, jobs, entitlements, laws, and regulations which created the most solvent & upwardly mobile middle class in history. SS payments, Medicare support, and educational aid are not simple handouts. They free up middle class money for consumption. When a middle class family does not have the full financial burden of their parents (because of SS and Medicare), that same family has more money with which to buy things.

And what happens when the middle class has more money in their wallets? The capitalist has to innovate and add jobs in order to capture that money.

It's a virtuous cycle and it explains why our greatest economic growth as a nation happened during the height of the liberal postwar period (when taxes were at their highest, as was government spending on the middle class).

The government moved more of the profits to the great mass of middle class spenders. And they spent. And the economy grew like crazy.

Fast forward to the Reagan Revolution.

The GOP got rid of our investment in the middle class in order to give tax cuts to the rich (who loaded the economy with speculative risk, only to float away on a golden parachute once their bogus securities blew up)

The GOP does not understand what it has done.

The middle class is too big to fail. You cannot all the sudden remove everything that sustained their consumption.

People have no idea how bad this is going to get. America has been taken over by morons.

Exactly, exactly, exactly. Thank you.

 

[Sallow]

What's amazing to me is how "happy" you libs seem to be with another dismal jobs number. Even your "boy" Paul Krugman understands that we need to add 300,000 jobs each month if we're going to see unemployment numbers go down and we are SO far from that it's not funny.

Your suggestion is what?

Cut taxes?

Ease Regulation?