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Dec 6th, 2017
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Joined: Sep 2001
Posts: 6,723
old hand
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old hand
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As of noon today, the Dow had lost more than 200 points. Is that because President Obama refuses to lie to the American people, as suggested by Ma? Or could there possibly be other reasons for today's downturn? You be the judge.
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Joined: Nov 2006
Posts: 19,831 Likes: 180
Carpal Tunnel
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Carpal Tunnel
Joined: Nov 2006
Posts: 19,831 Likes: 180 |
People are looking at those bargain basement stocks they bought yesterday and returning the ones that didn't fit.
Good coffee, good weed, and time on my hands...
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Joined: Sep 2005
Posts: 12,581
Pooh-Bah
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Pooh-Bah
Joined: Sep 2005
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My recollection (and I'm always reluctant to rely on my recollection of anything that occurred 8 hours ago, much less 8 years ago!) is that when President Bush was talking down the economy in 2001 he was laying the foundation for arguing that tax cuts were needed to "revive" a "faltering" economy. I also recall that the Democrats at the time, who opposed the cuts, were arguing that the huge budget surpluses should be used to "pay down the national debt", whatever that means. There were no "huge budget surpluses", though it was claimed that in the last year of President Clinton's term there was a smidgeon of a surplus -- until you lifted the lid and saw that there was no there there. Each year the deficits (borrowed money) accumulate. The total of that accumulation represents what the government (taxpayer) owes and is called the national debt. I will now get out of y'all's way and let y'all continue squabbling over which utterly corrupt party is at fault.:-) Yours, Issodhos
Last edited by issodhos; 03/06/09 01:49 AM. Reason: typo
"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos
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Joined: Jun 2004
Posts: 15,646
Carpal Tunnel
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Carpal Tunnel
Joined: Jun 2004
Posts: 15,646 |
Our financial and market woes aren't a Democrat or Republican problems...it is a government / special interest problem, which both have stepped way outside the boundaries of ethics.
Our government, regardless of political persuasion, have taken liberties that defy the moral standards necessary to protect the general welfare of our nation. :bow:
Steve Give us the wisdom to teach our children to love,
to respect and be kind to one another,
so that we may grow with peace in mind.
(Native American prayer)
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Joined: Feb 2004
Posts: 6,523
old hand
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OP
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Joined: Feb 2004
Posts: 6,523 |
I would suggest that he has struck a good balance in telling the American people the truth and, at the same time, giving the American people reason for optimism: From his recent speech to the Congress: You don’t need to hear another list of statistics to know that our economy is in crisis, because you live it every day. It’s the worry you wake up with and the source of sleepless nights. It’s the job you thought you’d retire from but now have lost; the business you built your dreams upon that’s now hanging by a thread; the college acceptance letter your child had to put back in the envelope. The impact of this recession is real, and it is everywhere.
But while our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before.
The weight of this crisis will not determine the destiny of this nation. The answers to our problems don’t lie beyond our reach. They exist in our laboratories and universities; in our fields and our factories; in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth.
Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more. Two words: Tongue bath. two more: Bull Sh!t
A proud member of the Vast Right-wing Conspiracy, Massachusetts Chapter
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
Thomas Jefferson
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Joined: Feb 2004
Posts: 6,523
old hand
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OP
old hand
Joined: Feb 2004
Posts: 6,523 |
Today's tally
6,594.44 -281.40 -4.09%
So much for that "bargin hunting" yesterday
Last edited by Ma_Republican; 03/05/09 11:30 PM.
A proud member of the Vast Right-wing Conspiracy, Massachusetts Chapter
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
Thomas Jefferson
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Joined: Nov 2006
Posts: 19,831 Likes: 180
Carpal Tunnel
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Carpal Tunnel
Joined: Nov 2006
Posts: 19,831 Likes: 180 |
Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more. Two words:
Tongue bath.
two more:
Bull Sh!t Way to pull together and take responsibility Ma! Hope your mortgage is paid cuz when the Repubs pull the nation down they are taking themselves with it. Better than admitting they screwed the pooch though. What was it that Lone said last time he was here? Oh I remember HAHAHAHAHAHAHAH! What do you suppose George Bush is saying right now? Something like:
Good coffee, good weed, and time on my hands...
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Joined: Sep 2011
Posts: 18,003 Likes: 191
Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
I am going to make a counter-argument. Consider the velocity of trading and the trend that occurred before President Obama assumed authority less than 2 months ago. During 2008, the Dow lost 50% of its value. The trend line showed that the Dow would reach a bottom of approximately 5500 by early 2009. (I wish I could show you my chart on this). During the last year of the Bush Presidency - at least until November - the Dow was losing an average of 650 points a month, a trend that if it continued, would put the Dow at about 6000 by now, and 5500 by the end of March. However, from the election to now, while the market has continued to decline, the rate of decline has slowed - indeed by nearly half of what it was during the last year of the Bush administration - to about 340 point loss per month. We will probably still hit bottom at or near 5000-5500 points, but it has taken longer to get there than under the Bush administration, and it may not even get that far. I think we are nearing the bottom, myself. I have not shifted my assets, and anticipate retiring about where I planned 5 years ago (before the last bubble).
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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Joined: Sep 2001
Posts: 6,723
old hand
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Joined: Sep 2001
Posts: 6,723 |
I am going to make a counter-argument. Consider the velocity of trading and the trend that occurred before President Obama assumed authority less than 2 months ago. During 2008, the Dow lost 50% of its value. The trend line showed that the Dow would reach a bottom of approximately 5500 by early 2009. (I wish I could show you my chart on this). During the last year of the Bush Presidency - at least until November - the Dow was losing an average of 650 points a month, a trend that if it continued, would put the Dow at about 6000 by now, and 5500 by the end of March. However, from the election to now, while the market has continued to decline, the rate of decline has slowed - indeed by nearly half of what it was during the last year of the Bush administration - to about 340 point loss per month. We will probably still hit bottom at or near 5000-5500 points, but it has taken longer to get there than under the Bush administration, and it may not even get that far. I think we are nearing the bottom, myself. I have not shifted my assets, and anticipate retiring about where I planned 5 years ago (before the last bubble). Don't waste your breath, NW. He isn't the least bit interested in argument or debate, especially if you are going to confuse him with facts or analysis.
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Joined: Jun 2004
Posts: 15,646
Carpal Tunnel
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Carpal Tunnel
Joined: Jun 2004
Posts: 15,646 |
Today's tally
6,594.44 -281.40 -4.09%
So much for that "bargin hunting" yesterday To what do you attribute this plunge, Ma?
Steve Give us the wisdom to teach our children to love,
to respect and be kind to one another,
so that we may grow with peace in mind.
(Native American prayer)
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