dow quadruple digit losses after six triple digit losses in a row?
*** DOW DEATH SPIRAL™ ***
|Trade Time:||4:07PM ET Oct.9, 2008
|Day’s Range:||8579.19 – 9448.14|
|52wk Range:||9,042.97 – 14,280.00|
DIVE, DIVE, DIVE!
“It’s impossible to predict the bottom, and technical analysis is meaningless as panic and fear overwhelm the markets.”
—Jang Huh, managing director at Prudential Asset Management in Seoul.—
This is clearly a worldwide, full blown, market PANIC!
Well Cricketeers, the rotten g’s are taking their toll on the battered markets. On Thursday it was general motors (along with the rest of the auto industry) that added drag to the dow. On Friday it will be general electric playing the anchor and dragging the dow further under. Asian markets were in full blown panic mode in Friday trading. The Nikkei share average was down 10.1 percent, bringing the week’s losses to more than 20 percent. The MSCI index of Asia-Pacific stocks excluding Japan was down 7.7 percent to its lowest since January 2005, and has fallen 21 percent this week alone. Europe joined Asia’s panic selling in Friday trading. The benchmark world equity index dropped to a 5-year low.
Will Friday be the day that the dirty dow snowball drops off the cliff?
Since the dow lost 400 points in the last hour of trading on Thursday there is very little reason to believe Friday’s big board trading will bring the dow anywhere but lower. The only question is how low it will go. I have been guessing 8000 as the bottom because that was where the dow landed after the tech bubble burst, but now I may have to revise that downward. How about 7000? At that level the dow will have lost half it’s point value of around 14000 when labushanostra came into power. There is a certain poetic justice to the fact that the dow dropped when labushanostra came into power in 2001, and now it’s crashing on their way out. It was the ongoing deregulation that started in earnest under ronnie raygun, and has been continued by every president since, that opened the floodgates for the corpoRATe criminals to run wild. Both the dirty dems and filthy repubs have economic blood on their hands! With all the disasters taking place in the world market, the dow leveling off at 7000 now seems overly optimistic!
THE WORST NEWS YET!
That idiot g’dubya will be making another national address on tv Friday and “plans to work through the weekend” in washingtOOn! All I can say to that is:
PLEASE, PLEASE, PLEASE g’dubya GO ON VACATION TO YOUR texass ranch!
Sneak out of washingtOOn NOW and STAY ON VACATION FOR THE REST OF YOUR LIFE! YOU HAVE DONE ENOUGH DAMAGE! Please take your dick and the rest of your wrecking crew WITH YOU!
IS IT HOT IN HERE?
DAGNABIT! As the fire economy burns the rest of us to a blackened crisp, the idiots in washingtOOn continue to coddle the corpoRATe criminals with corpoRATe welfare bailout love. This from ap:
Administration ponders part ownership in banks
By MARTIN CRUTSINGER and JEANNINE AVERSA
AP Economics Writers
October 9, 2008
WASHINGTON – Calm gave way to fear in financial markets Thursday, turning a relatively steady day into a rout that pushed the Dow Jones industrials below 9,000 for the first time in five years.
Investors, who had begun the day somewhat optimistic that the government was taking extraordinary steps to contain the financial crisis, turned gloomy under an onslaught of worries about the economy and corporations.
Shares of General Motors Corp., one of the 30 stocks that make up the Dow, tumbled 28 percent to their lowest since 1950. The Dow itself shed almost 7 percent, or more than 600 points, to 8618.69. Broader indexes also fell.
Lending also remained clogged. The London Interbank Offered Rate — a key benchmark for the loans banks make to each other so that they can lend to businesses and people — rose, signaling that banks remain hesitant to make loans for fear they won’t be paid back.
SONOFABUSH! It’s clear that the corpoRATe welfare bailout has not worked! A definition of STUPID is doing the same thing over and over, while believing that you will get a different outcome. The bush crime family and it’s dirty dem and filthy repub idiot unindited co-conspirators in the house and senate, ARE DEAD OUT, DYED IN THE WOOL MOTHERFUCKIN’ STUPID! Continuing to throw sacks of taxpayer funded loot into the black hole that is the banking system is not working now, and won’t work long term! It’s time for the feckless appaRATchiks in washingtOOn to realize the jig is up! Continuing to help the corpoRATe thieves loot the US treasury IS NOT GOING TO FIX THIS ECONOMIC DISASTER! IT WILL ONLY MAKE IT WORSE! The corpoRATeers need be shown that their greedy party is OVER!
Click that link to see what need be done, then support and vote NADER for REAL CHANGE!
The Telepathic Crickets™ on the ClapSotronics editorial board and I will CONTINUE TO WARN YOU that voting for the ethically challenged obamessiah or the reverend mcPain will be YOU committing STUPIDCIDE™ and will lead us to further and worse disaster!
If you want more info on the alternative debate happening around October 16 or 17, click these links:
To take action on opening the debates to Independent and third party candidates CLICK THIS LINK!
Please send an email to janut janet brown the executive director of the “Commission on Presidential (non) Debates.” Below is the email I sent her. Feel free to use that one or write your own! Her email address is: email@example.com
I know you and the rest of the feckless appaRATchicks in washingtOOn are busy trying to sell the Brooklyn Bridge of a corpoRATe bailout plan to us sucker taxpayers. But it would be really keen if you stopped for a second and understood that “debates” which include only the co-joined twins of the apocalypse called mcbama will amount to nothing more then the left ass cheek telling the right ass cheek that it smells bad.
After all, there is this thing called democratic process! I understand how inconvenient and annoying it can be for you in the CENSORSHIP industry, but some of us are really old fashioned and set in our ways.
We believe THAT ALL THE CANDIDATES ON THE BALLOT FOR ELECTION should be included in the debates.
This is not a request, but a demand!
I hope your 401k goes bust in the stock market crash…
I really do hope all the feckless appaRATchiks in washingtOOn lose their 401k’s in the market crash!
Don’t forget to stop by our satirical sister blog:
Make sure YOU WATCH THESE VIDEOS!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer
~ by ClapSo on October 10, 2008.
Posted in Activism, Bank Failures, Budget, bush, censorship, Change, clapso, corpoRATe media, corpoRATe welfare, CorpoRATeer, corpoRATion, Crash, credit crisis, Cricketeers, DAGNABIT, debates, democrats, deregulation, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, ethically challenged, FEAR, feckless appaRATchiks, government bailouts, labushanostra, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, Lies, mcbama, mccain, mcPain, Mortgage, Mortgage Crisis, MSM, Nader!, nobama, obama, obamessiah, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, Poverty, progressives, republicans, reverend mcPain, SONOFABUSH, Stock market, Stocks, Stupidcide™, Telepathic Crickets, Thieves, third parties, Wall street, washingtOOn, World Market, WTF, YOU!
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