The DOW? DIVE, DIVE, DIVE…

Index Value: 13,270.68
Trade Time: Aug 9
Change: Down 387.18 (2.83%)

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It’s coming. The dow is on the brink of collapse. The disaster is spreading:

Credit fears grip Asian stocks

By Ian Chua

HONG KONG (Reuters) – Asian stocks fell across the board on Friday and the yen extended gains as investors dumped riskier assets following a rout in global markets sparked by a flare-up in credit jitters…

China is not in the mood to play nice:

Uncle Sam, Your Banker Will See You Now

By Paul Craig Roberts

08/08/07 ICH — – Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs. Two senior spokesmen for the Chinese government observed that China’s considerable holdings of US dollars and Treasury bonds “contributes a great deal to maintaining the position of the dollar as a reserve currency.”

Should the US proceed with sanctions intended to cause the Chinese currency to appreciate, “the Chinese central bank will be forced to sell dollars, which might lead to a mass depreciation of the dollar.”

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The credit crunch is having a ripple effect on world banks:

Stocks Tumble as French Bank Reacts to Home Loan Worries

Stocks dropped sharply as soon as trading opened today after a French bank, BNP Paribas, suspended operations of three of its funds in the wake of turmoil in the American market for home loans and the European Central Bank and the Federal Reserve injected cash into the financial system because of tightening credit markets.

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The chart above shows what a disaster the credit picture is. This is gonna get UGLY!

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Personal bankruptcy has been skyrocketing!

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The pig rich have been getting more, while the rest of us get screwed! What will that idiot in the oval office say about all this?

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Uhhh, it done blowed up…

There is little hope that the insane economic voodoo the neocon-artists have been pulling for years will be sustainable. Even if the market recovers short term, this kind of instability will lead to problems long term. In the end we will pay the price for the excesses of the pig rich corporateers. They always dump their bills on the rest of us!

Even with all the bad news, there is some good news:

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Sheehan announces House candidacy

By SUDHIN THANAWALA, Associated Press Writer Thu Aug 9, 2oo7

SAN FRANCISCO – A tearful Cindy Sheehan cited her son, killed in Iraq, as her inspiration as she announced her candidacy Thursday for the U.S. House against Rep. Nancy Pelosi. Sheehan last month said she intended to run against Pelosi, the House speaker, if the San Francisco congresswoman didn’t move to impeach President Bush by July 23. Sheehan said Thursday that Pelosi had “protected the status quo” of the corporate elite and had lost touch with people in her district, most of whom, she asserted, want American troops out of Iraq.

This is the answer to our ongoing problems! We need more real people like Cindy to run for office. We need to vote for folks just like you and me. We need dump the phony, thieving celebdidates of the two parties of the apocalypse. We need run ourselves against the dem and repub usual suspects come election day. YOU should consider running for office yourself, The more of us that throw in our hats, the better!

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The telepathic crickets are glad they don’t own any stock and so am I!

The scientifically impossible I do right away

The spiritually miraculous takes a bit longer

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~ by ClapSo on August 10, 2007.

8 Responses to “The DOW? DIVE, DIVE, DIVE…”

  1. The celebdidates will be making an exodus for the French Riviera real soon.
    The Chinese own most of our debt they also own most of the oil futures. Industrialized nations of the first world are now dependant on China.
    A scary thought.
    Underlying all of these events is dumbest population we have ever raised. Are you smarter than fifth grader?
    We have already been sold out. Our leaders are just like ‘Baby Doc’ in Haiti during the 80’s. They are raping our economy for their vested interest (Halliburton, Bechtel).
    Let us depart from the obvious for a moment and consider the future.
    War
    More War
    A bigger war, will invigorate our economy. It will instill purpose and pride in the legions of illiterate, hopeless people that do not appreciate art and creativity.
    It would also destabilize the threat (China).
    The 100 billion dollar bailout on mutual funds is the beginning. Power means more than money; the powerful TAKE things of value and sell them to us, the lambs.

    still disturbed dancy

  2. Clapso, You have been “Tagged”

    Visit the link for more info.

    “The Sleeper must awaken!”

  3. Have you seen how much money the various reserve banks are pouring into the market to stop the slide?

    I’m no econ student, but doesn’t more money = less value for that money, aka a recession or something?

    C’est la vie…

  4. While the markets world wide slide, president incompetent tell everyone the market is strong, unemployment is great and consumer spending is strong. Does he think we’re that stupid?

  5. Run Cindy run!!! (for office)

  6. All this credit crunching panic talk. Ten years ago I decided I didn’t want nothin’ to do with the credit card sharks. Ten years I’ve lived within my meager means and sometimes I starved. Sometimes I was even homeless. But, except for my student loan, I owe nothing to nobody. So now we find out just how serious this legal loan sharking business really is… In 2001, I said W was gonna run this country into the ground…but, hey– at least the billionaires got their tax cuts. And again I say: RUN, CINDY RUN !!!

  7. Thanks for all the comments!

    The selling of what we already own to us from the power elite is the way they make us borrow from them. The increase in the money supply does lower the value of the currency, but the fed reserve don’t care. The rest of us will have to pay the higher costs of inflation…

    Cris And I share an answer. Pay off all your debts and live within your means. I did it and am better off for it now.

    The scientifically impossible I do right away
    The spiritually miraculous takes a bit longer

  8. Clapso:
    You are so right. I got rid of all credit cards 9 years ago and don’t miss it. I have what I need and only have the necessary life bills every month. The market is where it is today because banks and corporate America has encourage debt. That practice has made many people slaves to these companies. Freedom is releasing yourself from their hold.

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