Dow average plunges 513, worst drop since 2008

I'm confused. They said if we didn't pass the debt increase we would get downgraded and that would result in disaster. We do it and it looks like we will probably get downgraded anyways. Then a bunch of Liberal Media dancing Obama puppets come out and say, "Eeeeh, doesn't really matter"

They also said if we don't pass the debt increase, the stock markets will tumble. We do it and man am I glad we kept that from happening.

Go ahead, explain it all away. The progressive scumbags will lie, cheat and wipe their asses with the Constitution as long as it fuels their agenda. Go ahead, attack and try to diminish the Tea Party, I haven't joined because I don't play well with others, but they sure as fuck have a great deal more credibility than the cretins opposing them.

The whole debt ceiling is just a smoke screen. The market is moving down on fundamentals such as high unemployment, inflation, aggregate demand, etc etc. Monetary collapse in other nations exacerbates our own problems. There is nothing they can do but to pump ever more heroin(money) into our bloodstream until we OD. None of the problems have been dealt with.

I'm glad i'm not relying on social security or counting on a 401k, I have faith in hip hop and silver.

NoDrama said:

The whole debt ceiling is just a smoke screen. The market is moving down on fundamentals such as high unemployment, inflation, aggregate demand, etc etc. Monetary collapse in other nations exacerbates our own problems. There is nothing they can do but to pump ever more heroin(money) into our bloodstream until we OD. None of the problems have been dealt with.

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ahhh you guys are blowing smoke. no problems, we just havent borrowed or printed enough money yet.

in the words of officer bartkowski......nothing to see here, just move along.

ND is right, it's about the poor economic data. But have you seen what's been happening in Italy? Italian stocks have been dropping, and Italy's spread against German bonds is soaring.

Meanwhile, the US bond rate is down to 2.5%; so much for crowding out. How much you guys wanna bet the last economic data will be revised to show a contraction and we'll be in a technical recession? If only there was the political will for infrastructure/energy spending... Oh well, we'll have to settle for another round of QE, the Bernanke will not allow deflation(this is a prediction that it'll happen not that it'll be a cure-all to our economic woes... my position has been repeated plenty of times already on this one).

It matters very little to me, just like last time, I got my money out of stocks in the nick of time. If it crashes all the way back down to 7,000 I'll hop back in and ride it back up again. I just find it humorous that the liberal partisan hacks on this forum will bury their heads in the sand, all the while attacking and insulting anyone who doesn't hide from reality with them.

Our little state of NC is F L O O D E D with Democrats from the North East, ask any of them why...too expensive...too much taxes. The scariest thing about it is they still vote in the same manner that led to all that stupidity in the first place.

MuyLocoNC said:

I just find it humorous that the liberal partisan hacks on this forum will bury their heads in the sand, all the while attacking and insulting anyone who doesn't hide from reality with them.

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Really?

I love my CD ladders...They make me money without the worry and keep me investing each year if I want depending on the interest rates...The best thing I ever did with my bonuses and other "extra" pay from the USAF..If you don't really need your money at hand for a few years ( 5-10)...I would suggest taking 30- 50,000 and set up a CD ladder...I did a 7 tier with 70,000....just make sure you shop for the best high yield payout you can get...You will not and cannot ever lose the principal invested in your CD Ladder...Yup have to say best thing in my portfolio without the risk..

londonfog said:

I love my CD ladders...They make me money without the worry and keep me investing each year if I want depending on the interest rates...The best thing I ever did with my bonuses and other "extra" pay from the USAF..If you don't really need your money at hand for a few years ( 5-10)...I would suggest taking 30- 50,000 and set up a CD ladder...I did a 7 tier with 70,000....just make sure you shop for the best high yield payout you can get...You will not and cannot ever lose the principal invested in your CD Ladder...Yup have to say best thing in my portfolio without the risk..

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Did you turn your $50,000 into $250,000 in 2 years?

mame said:

ND is right, it's about the poor economic data. But have you seen what's been happening in Italy? Italian stocks have been dropping, and Italy's spread against German bonds is soaring.

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Wow... I'm agree with mame on this one (to the above point, not on the infrastructure and energy spending). Good catch on the Italian bond market...

While the bleeding the Dow experienced yesterday was in part reaction to the debt (as the US passed the 100% of GDP mark) and an expectation of the job growth report, a considerable bit of it is in reaction to the European markets as well (speficially the Italians). I hear the Asian markets lost quite a bit last night, and oil took a 6% beating as well.

The way I read it the market is not expecting to see any real growth in the next few months, if not longer. Perhaps a QE3 will push us into hyperinflation (on another thread I stated that I didn't think it would at this point in time)

The Second Great Depression is on it's way folks. Thanks a lot Republicans. Very nice work.

Carne Seca said:

The Second Great Depression is on it's way folks. Thanks a lot Republicans. Very nice work.

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Just the Republicans? You don't think the Democrats share fault in this as well?

NoDrama said:

Did you turn your $50,000 into $250,000 in 2 years?

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Oh hell no...I wish...lol.. CD ladders don't put out that much so fast ( if at all..my highest are last two years at 7 and 7.5%)...thats what the laundromats are for ( straight money makers)..I have some software stocks that are doing pretty nicely, but still not like that...my money now is my laundromats....everything else is extra for fun including my retirement checks from the USAF, so my kids will have a much better life then I did starting out..

londonfog said:

O...my money now is my laundromats....

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I've seen self-service car washes set up next to a laundromat, and from what I've seen they usually do very well right next to each other. Ever thought of getting into that side as well?

txpete77 said:

I've seen self-service car washes set up next to a laundromat, and from what I've seen they usually do very well right next to each other. Ever thought of getting into that side as well?

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Probably hard to do what with clean water regulations and waste water regulations where he lives. Just a guess.

txpete77 said:

I've seen self-service car washes set up next to a laundromat, and from what I've seen they usually do very well right next to each other. Ever thought of getting into that side as well?

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not really.....doing pretty well with what I got..dont want to much work ..Hell I'm supposed to be retired..lol

NoDrama said:

Probably hard to do what with clean water regulations and waste water regulations where he lives. Just a guess.

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you would not believe the shit you have to go though with a brand new building..OMG the sewage BS alone is enough to make you CRAZZZZZZZZZZZYYYYYYYY...seems like everybody looking to get a payout, but it was so worth it.

txpete77 said:

Just the Republicans? You don't think the Democrats share fault in this as well?

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I blame The Republicans and Obama(The Republicans because they oppose stimulus, Obama because he has conceded political realities instead of doing what's right); If the Democrats had their way, I seriously doubt we would still be at 9% unemployment.

mame said:

I blame The Republicans and Obama(The Republicans because they oppose stimulus, Obama because he has conceded political realities instead of doing what's right); If the Democrats had their way, I seriously doubt we would still be at 9% unemployment.

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You are right, the Democrats would employ all the unemployed to dig holes on one side of the street and fill them in on the next day. The deficit would increase by $10 trillion in a single year, prolonging the agony but making the pain even worse in the end. You can blame the government for allowing the Federal Reserve to exist and granting it monopoly powers to create all the currency so as to control the entire supply of money. With that one act it gave government Carte Blanche to rack up the debt, with a last resort lender for every dollar borrowed.

Alas ,there is no perfect solution. Our time is up, the politicians have promised balanced budgets and reduced spending for generations, and yet they never did. It was all just big lies to keep themselves in office, everyone knows the majority vote for the guy who will offer you the most, not for the person who offers nothing but responsibility for yourself. People like to be coddled and lazy and government programs let them do that. They're telling your face one thing while their friends are out getting the opposite done out there.

FDD would be proud of that last sentence.

The Democrats would've passed adequate stimulus, if that's what you mean.