More signs of economic weakness triggered a global sell-off in stocks Thursday. The Dow Jones industrial average fell 400 points in a return to the wild swings in the market last week…
Last week was one of the wildest in Wall Street history. The Dow moved more than 400 points on four straight days for the first time.
But stocks had been relatively stable this week because investors were calmed by strong earnings reports and a flurry of corporate acquisition deals. The Dow had fallen 76 points Tuesday and risen four points Wednesday – the first time that the average rose or fell by less than 100 points on two straight days in nearly three weeks.
That ended Thursday. And with stocks down big, money flooded into U.S. Treasurys and gold, both considered safer investments.
A poll follows: somebody gets the blame for this crap.
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will make a killing in the market because stocks are so low. There are hedge fund managers that are loving this volatility because they make money no matter which way the market goes.
no longer serves the productive function of providing capital to business. Today, it functions solely as a casino. And, at a casino the house always wins.
we also don’t have pensions where companies used to be involved in the providing for their employees. Reagan was a turd that gave us this.
is like trying to explain that it’s raining over Boulder because clouds are fleeing regulatory uncertainty in Iowa. You can do it, and apparently people get paid for it, but the market is essentially just the aggregate behavior of a bunch of people behaving stochastically based on psychological prejudices, together with software designed to automatically magnify the effects of small oscillations.
Sorry, I mean Ben Bernanke sneezed and that’s why.
thats for damn sure. I love the headlines though:
” Markets took a heavy loss in trading today due to _____ (insert something remotely tangential here)”
” Markets roared back today due to _____ (insert something remotely tangential here)”
who thought the gods were holding back rain because someone’s daughter was having too much sex, but we’re arguably worse because we should know better and don’t.
Is that supposed to be plowing?
and to make it more interesting we now have computer programs that can set off buying and selling, look no hands.
now we do know better, — there’s no such thing as too much sex . . . (unless you’re talking about any of my daughters, and you damn well better not be).
Just look at who’s reporting.
My favorite line:
proving, yet again, that S&P’s move was not only politically motivated but was made because of the political (not financial) climate: Republicans’ proud willingness to refuse to pay our debts.
Can’t wait to see who President Waffle, Goodhair or Straightgod choose as his/her financial advisors, besides, of course Mammon.
http://claytonecramer.blogspot…
It’s no wonder Maxine Waters went bananas on Obama yesterday in Detroit. Minority unemployment is up even more then the average in America.
The Obama Administrations desire to print (money) their way to prosperity is a flawed and bankrupt strategy that has only set up the small guy to be shackled by the resulting inflation.
So why is the market down ….. Maybe we should ask Austan Goolesbee or Christine Roemer or that tax cheat himself.
The Obama administration is starting to look like the Ritter administration … eerily similar.
My GOD. Libertad figured it out!
Bill Ritter has been running the government from behind the curtain, letting Obama be his figurehead, pulling the puppet strings; while he extends his dark, sinister reach over across the world.
I can’t believe I never saw it before your astute comment. The Blue Ribbon commissions, Obama’s recent book “The American Promise: A New Energy Economy”… it’s so obvious now.
Do you think he’s pushing Obama to grow a beard? Time will tell.
and add a ton more public sector jobs.
and save myself the aggravation of, you know, reading it.
Is so Republican and stupid.
and have a happy Friday
We already know. I don’t have to subject myself to Rush Lmbaugh to find out what he thinks about anything either. Not that I’m comparing ‘Tad to Limbaugh. Limbaugh makes millions with his moronic blather.
all those companies–banks, financial institutions, etc., that were “too big to fail” to simply . . . fail.
Then we could have started picking up the pieces for real instead of rearranging deck chairs.
we could perhaps re-establish a legal and regulatory regime where such things are less likely to happen . . .
We all know that if there’s anything that kills more jobs than taxes on the ri… I mean job creators, it’s evil commie regulation, consumer protection and work place safety rules. Oh and any limits on what poisons and carcinogens can be dumped into our air, food and water. All that stuff just kills jobs for no good reason.
Since they crashed the last time you reported they were recovering, maybe they’ll recover now? Everyone hold your breath and repeat “I think I can…”
I do!
*Clap*clap*clap*clap*clap*!
(always wanted to post that)
You poor suckers that invested in the market. You poor suckers and your smarty pants IRAs. Thank luck, I’ve got a pension that…wait…my pension is invested in that fucking market. Oh No Oh Oh Oh Oh Oh.
Because it hurts me as much as you, probably more.
This economy will be unstable and without confidence as long as Barack Obama is President.
Its all Obamers fault. Thank you for your contribution.
You know what would provide some stability and confidence ? Tax cuts ! Oh, wait, tax cuts and 2 dollar gas, and, and ponies !
of intelligent discourse than this talking points enabled commenter.
that you were a bigotted fucking asshole even before Obama was elected. So what you say about him now is just an extension of your sense of normal, and your projection onto the stock market is just the accumulation of your own fears and instability. I really hated to say that.
Hyper volatility will be the name of the game for many years to come. Triggers can come from the common investor (even the institutional ones), but the triggers that set off crazy up and down swings are attributable to our supercomputer-driven hedge funds, and I-banks trading on their own accounts.
Take advantage of that volatility, invest into it, don’t lament it.
None of that has much to do with politics, where the rule of thumb should remain – does it create jobs. The stock market’s value has only a small part to play in that.
No one knows what the hell Washington or the E.U. is going to do. But the market is confident that the leadership on both sides of the Atlantic is incompetent and mainly acting for political advantage.
So the market is left trying to estimate where the cluster-fuck that is our political leadership is going to take us. The fundamentals for business are very good, but the political fundamentals are cancelling that out.
that the market always acts rationally, then it is easy to conclude that the market is acting rationally in this case as well. Then you can come up with a theory to explain it.
Of course, your theory won’t explain why the markets were any different three weeks ago (when all the same politicians were in charge), and your theory won’t explain what the market will do tomorrow, but… Wait, why do you have a theory again?
Everyone’s trying to guess what everyone else will do. And the market follows that which leads to these swings. But that all is occurring because there is so much uncertainty as to what the political leadership will do.
Oh wait, theories aren’t supposed to do that.
are a product of intelligent design (as well a tool for God’s righteous vengeance . . .)
Why you always looking for that grand theory of everything when it’s right inside your Bible?
trailing stop orders are important in volatile markets like this.