Dow plummets 500+ points, Nasdaq down over 5%

• Ty Webb

  

  You can't be that stupid can you Quaker
  
  You honestly think the President is happy about this?
  
  Please STFU with that shit
• QuakerOats

  Who is barack hussein obama?
• BoatShoes

  Cleveland Buck;857295 wrote:Many people saw this coming. In October 2008 I called gold at $2,000 during Obama's first term.

  
  Sure you also called sky rocketing interest rates and massive inflation...
• rydawg5

  Nasdaq is a bitch.
• jmog

  Footwedge;856458 wrote:Hoo boy..... Gibby....this was a horrible, horrible day indeed for Oats, WB, JHay, Jmog, and the Coyotee. Not to mention MB and QCB. That communist in the White House is trying to ruin the economy....dintcha know? .....and then this happens. Tsk. tsk. tsk.
  
  The truth is...the president has virtually zero control on what the Wall Street speculators do.

  
  Can you find one post where I have said the president has any control on Wall Street? If not then please erase my name from your post because it makes you look stupid.
• Belly35

  

  See gold keeps going up = market goes down or takes a lose
  My caluation of $1790 is wrong for the market to stablize ... could my first caluation of gold hitting $1970 before the market level out be correct?
• Manhattan Buckeye

  QuakerOats;857699 wrote:Who is barack hussein obama?

  
  I think the question is where is he?
• Writerbuckeye

  

  Manhattan Buckeye;858049 wrote:I think the question is where is he?

  
  Soon to be spending 10 days vacationing in Martha's Vinyard with the rest of the elites.
  
  All that golf has obviously exhausted him.
• Belly35

  

  Manhattan Buckeye;858049 wrote:I think the question is where is he?

  Not My President .. but ...My Public Servant
• Cleveland Buck

  

  BoatShoes;857722 wrote:Sure you also called sky rocketing interest rates and massive inflation...

  
  I didn't say those would come right away, but they are coming. Inflation is slowly but surely creeping up even with all of the deflationary pressure out there right now. Interest rates will skyrocket once investors have somewhere else to put their money instead of treasuries or inflation finally hits hard enough to stop the Federal Reserve from buying treasuries.
• BoatShoes

  Cleveland Buck;858148 wrote:I didn't say those would come right away, but they are coming. Inflation is slowly but surely creeping up even with all of the deflationary pressure out there right now. Interest rates will skyrocket once investors have somewhere else to put their money instead of treasuries or inflation finally hits hard enough to stop the Federal Reserve from buying treasuries.

  Uh huh sure ya didn't. We've been hearing that song and dance for almost five years now. Inflation and rate hikes are right around the corner!! Blah blah. Every Austerity/Deficit Guy has been proclaiming this from the mountains but the Hicks model says otherwise and has been vindicated. Here is the Wall Street Journal declaring the return of the Bond Vigilantes on May 29, 2009. The wrongness is palpable. http://online.wsj.com/article/NA_WSJ_PUB:SB124347148949660783.html.
  
  We can borrow money for free and put people to work who would otherwise be doing nothing and fix what the real problem is...lack of growth (which will really cause us long run deficit problems) but we will not because of problems that we don't have...the impending doom of inflation that doesn't exist gahhhh. They're coming! lol.
• BGFalcons82

  

  What's left in the official government inflation stats? As long as shoes, tape and toilet paper stay calm, inflation, as it's measured, will be under control. If you include miscellaneous odds and ends, such as gasoline, electricity, corn, aluminum, milk & beans, then inflation is indeed a problem today.
  
  The gubmint figured out after the Peanut Farmer debacle that Americans can't handle the truth, so why track it and tell them, eh?
• Manhattan Buckeye

  "Inflation and rate hikes are right around the corner!! "
  
  Obviously rate hikes aren't, Bernanke pretty much jammed us into a 2 year hitch.
  
  "We can borrow money for free and put people to work who would otherwise be doing nothing and fix what the real problem is...lack of growth "
  
  An excellent plan, we'll tell our Chinese friends to lend us money to pay 50% of the unemployed to dig holes and the other 50% to fill them back up.
  
  I have a suggestion for you Boatshoes, apply to take Summers' or Romer's ex-position, our economic-incompetent in chief could use a sycophant like you.
• Cleveland Buck

  

  BoatShoes;858181 wrote:Uh huh sure ya didn't. We've been hearing that song and dance for almost five years now. Inflation and rate hikes are right around the corner!! Blah blah. Every Austerity/Deficit Guy has been proclaiming this from the mountains but the Hicks model says otherwise and has been vindicated. Here is the Wall Street Journal declaring the return of the Bond Vigilantes on May 29, 2009. The wrongness is palpable. http://online.wsj.com/article/NA_WSJ_PUB:SB124347148949660783.html.
  
  We can borrow money for free and put people to work who would otherwise be doing nothing and fix what the real problem is...lack of growth (which will really cause us long run deficit problems) but we will not because of problems that we don't have...the impending doom of inflation that doesn't exist gahhhh. They're coming! lol.

  
  Why are food prices rising? Why on earth is oil over $80 when our private economy hasn't grown in 3 years? Is demand increasing? Of course not, so I guess that means the dollars buying those things aren't worth as much. You should hate inflation, because it is a tax on everyone, including the poorest Americans.
  
  3.6% inflation with negative growth. I guess poor people are fortunate that this economy isn't going to grow any time soon.
  
  The $1.5 trillion in borrowed money pumped into the economy lead to GDP growth of $400 billion. Even if we were borrowing for free (we aren't, and 2% of $1.5 trillion isn't a small number), that still isn't worth it. Keynesian spending has never stimulated real economic growth, ever. It props up the GDP numbers and gives some people temporary work and can help make economic downturns less miserable, but it does absolutely nothing to help the economy recover.
• Footwedge

  queencitybuckeye;857284 wrote:I'll fully admit I should be the better person and not react in this manner at what, by your standards, are minor untruths, such as the implication that I'm one of the set calling people socialists and communists, when a simple search will show that this is the first post of mine in which those words have ever appeared. I'll not even bother to challenge you to find where I "self proclaimed" myself as the richest guy around here. I'm quite sure that 1) I've done nothing of the kind and 2) it's not the case.
  
  What I should have done instead is point out that in the very short term, the president can and did make a sizable impact in the markets. In the short term, the applicable subject matter is far more psychology than economics. When a sitting president makes an idiotic speech about the stock market, the players are going to make predictable, albeit short lasting decisions about the state of the nation, the economy and the market. Over the longer term, rational thought will regain control (not that the facts are anything encouraging).

  You have....on numerous occasions....stated that you make a lot more money than me. First of all, how do you know what I make? and secondly, who cares? Anyone that feels the need to spew out that kind of sophomoric crap must have self esteem issues. Stick to arguing the points....because comparing our respective incomes, net worths, or whatever, is as childish as it gets.
• Footwedge

  QuakerOats;856719 wrote:FW -- keep blaming Bush, but don't forget to blame the Tea Party etc.. etc... You need to read Bret Stephens piece in the Wall St today --- obama is simply stupid, but I am not at all surprised because all he ever was was a socialist community activist/agitator - period! Obama's abilities during the debt negotiations and his response to the aftermath says it all; he is a pathetic leader. His saving grace today was the fed saying they would keep rates low for 2 more years all the while loading the US balance sheet up with total garbage --- it will kill us in the end.
  
  Reagan inherited economic problems and solved them; obama can only blame others. He should resign today.

  I fit the "tea partier" mode moreso than you do. The origional tea partiers (myself) were complaining way before the neoconservatives hijacked Ron Paul's agenda.
• majorspark

  

  Footwedge;858333 wrote:I fit the "tea partier" mode moreso than you do. The origional tea partiers (myself) were complaining way before the neoconservatives hijacked Ron Paul's agenda.

  And now that many want to board the ship you want to push them overboard. Hijackers you call them. To others they are terrorists. They were not there in the beginning. Give them hypocrites the heve-ho.You can expect to always be in the minority.
• dwccrew

  

  Belly35;857229 wrote:Gold hit for the second day $1774.00 plus .. if my (Belly Method/Theory Calulation) the stocks DOW should level out by close and show a slight gain or not as high lose.
  
  My problem is do I have to re calulate the Gold pricing ($1770/1790) up more to find that leveling plain of the stock market. I have stated that a gold pricing of $1770 plus is where gold pricing has to stay for a few weeks for the stock to equal out to stop the high range of loses and gains

  
  Down 520 points is not such a high range of loss?
  

  Belly35;858046 wrote:See gold keeps going up = market goes down or takes a lose
  My caluation of $1790 is wrong for the market to stablize ... could my first caluation of gold hitting $1970 before the market level out be correct?

  
  Sure if you keep predicting gold to keep going up and the market eventually stablizing you'll evetually be right. Even a broken watch is right twice a day.
• queencitybuckeye

  Footwedge;858325 wrote:You have....on numerous occasions....stated that you make a lot more money than me. First of all, how do you know what I make? and secondly, who cares? Anyone that feels the need to spew out that kind of sophomoric crap must have self esteem issues. Stick to arguing the points....because comparing our respective incomes, net worths, or whatever, is as childish as it gets.

  
  Fine, I'll stop if you stop telling lies, and denying that you've been caught doing so.
• QuakerOats

  Cleveland Buck;858287 wrote:Why are food prices rising? Why on earth is oil over $80 when our private economy hasn't grown in 3 years? Is demand increasing? Of course not, so I guess that means the dollars buying those things aren't worth as much. You should hate inflation, because it is a tax on everyone, including the poorest Americans.
  
  3.6% inflation with negative growth. I guess poor people are fortunate that this economy isn't going to grow any time soon.
  
  The $1.5 trillion in borrowed money pumped into the economy lead to GDP growth of $400 billion. Even if we were borrowing for free (we aren't, and 2% of $1.5 trillion isn't a small number), that still isn't worth it. Keynesian spending has never stimulated real economic growth, ever. It props up the GDP numbers and gives some people temporary work and can help make economic downturns less miserable, but it does absolutely nothing to help the economy recover.

  
  BINGO.
  
  obama's trashing of the dollar is certainly among his most prized disasters.
• Cleveland Buck

  

  QuakerOats;858529 wrote:BINGO.
  
  obama's trashing of the dollar is certainly among his most prized disasters.

  
  The dollar has been getting trashed for the last 20 years. Obama is just finishing the job.
• believer

  

  Cleveland Buck;858539 wrote:The dollar has been getting trashed for the last 20 years. Obama is just finishing the job.

  And doing a fine job of it.
• cruiser_96

  

  I don't make much money.
• Footwedge

  majorspark;858337 wrote:And now that many want to board the ship you want to push them overboard.

  They don't represent what fiscal hawks represent.

  You can expect to always be in the minority.

  What minority am I in?
• WebFire

  Down one day because of bad economic news, up the next because of good economic news. Then repeat.
  
  What is this shit?