Drudge Retort: Red Meat for Yellow Dogs
Thursday, October 09, 2008

The Dow Jones Industrial Average fell below 9,000 for the first time since 2003 as higher borrowing costs and slower consumer spending spurred concern carmakers, insurers and energy companies will be the next victims of the credit crisis.

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I'm starting to wonder how bad this is going to get.

Joe,

The panic is setting in. You haven't seen nothing yet.


Dow Jones Tumbles To Below 9,000


George W Hover


Vote MC SAME


unfortunately, you are correct 726.

welcome to the future new world.

One might, however, easily imagine a 2000 point drop had nothing passed Congress.

-Corky

Uh huh...

the love of money is the root of all sorts of evil.

Heard on the news that we've reached the bottom and we can expect the bounce.

Of course, this is from an investor company. The forest is burning, but don't worry. It'll fizzle out in the high winds and dry timber.




Do the DOW Limbo.....


How Looooooooooowwwwwwww can it goooooooooooooooo?

the love of money is the root of all sorts of evil.

#6 | Posted by nanc

Like the existence of the GOP....

as long as snowjobama still has some to buy network airtime...

What is amazing, just like after the stock market crash of 1929, there will be voters lining up on election day to vote for Republicans. Some folks are incapable of learning.

Anybody 55 years or older on a fixed income who is not panicking is just not paying attention. Goodbye 401(k).
The political question I have in relation to this freefall has to do with the role deregulation over the last several years played.

i just heard a news bit - the gov hasn't even written a check on the bailout monies - who wants to bet they'll buy up ALL the failures on the dow?

Suckers!

Sincerely,
Karl Marx

Right now it's at 8,579.19.

Didn't Paulson say it would take at least 3 weeks for the plan to get up and running? By then the Dow will be negative 2000.


Suckers!


Sincerely,
Karl Marx

#14 | Posted by nullifidian


Well, it is refreshing to see such honesty from Liberals about their true ideology.

What is amazing, just like after the stock market crash of 1929, there will be voters lining up on election day to vote for Republicans. Some folks are incapable of learning.

#11 | Posted by danni

Typical lame response. tell us oh economic scholar why is the EAFE(world index) down 41% this year? And while you are at it could you please explain why democrats have no responsibility whatsoever!!!

1-day high 9,448.14
1-day low 8,579.19

52-week range
52-week low 8,579.19
52-week high 14,198.10
52-week % change 39.06%
1-month % change 23.61%

Volume 1.6B


39% drop in 1 year!

I look at my 401(k) now it is almost too late to get out. I am not planning to retire in the next 10 years, so I decided last week to ride this out. Well of course, now I am second guessing myself but feel like if I get out now, I stand to lose too much. So I guess I am going to ride this out.

By the way, I just heard Kelsey Grammer being interviewed and he said that he pulled his money out of the stock market in July. He figured that it looked like Obama was going to be elected and would raise capital gains taxes so he got out early before everyone sold after he had been elected.

Not to say that that is what caused the crash, but it seems that a lot of people have been pulling their money out for that very reason.

"Well, it is refreshing to see such honesty from Liberals about their true ideology."

I'm not a liberal, dummy. And I speak only for myself.

-- The Dow Jones industrial average lost 679 points, after hitting its lowest point since May 27, 2003 during the session. -CNN

Yea, to say that this is the fault of one party is just nuts.

Everyone is to blame in this.

Bush sets 50 year record.

zfacts.com

You don't think part of the reason people are getting out of the market is because Obama will raise their taxes?

"Bush sets 50 year record."

That's only through Sep 30.
It's October 9.

A lot can happen in 9 days.

saw

I think people are freaking out all over the world. that is what is going on.

"Yea, to say that this is the fault of one party is just nuts.

Everyone is to blame in this. "

This is what happens when you keep voting for the duopoly rather than voting for Libertarians and other third parties.

Had enough America? Are you ready for real change? Then don't vote Rep/Dem, they cause this.

Uh huh...

#5 | Posted by IraqiBukkake

Ah, now I have by own little bukkake covered stalker. How sweet!

Now, if it would care to show us it's evidence that conditions would not be worse now without that promised infusion of cash, since it is the one making that claim, it can go right ahead.... waiting.....

of course, the experts beg to differ:

www.drudge.com

Member, I mentioned it earlier, I think the Libertarians have some of the best ideas. Get us out of other countries, get the gov out of our lives. I am all for it.

There's no where to get money right now, so even large corporations are cashing in stock to make payroll and cover expenses. Normally they'd get very short term loans. That's gone.

nowhere*

Dude
Utterly
Bankrupts
Young
America

Bastard
Utterly
Shafted
Humanity

Larry

watch the zeitgeist addendum. free on youtube.

still think the New World Order, the Amero and RFID chipping the planet are a joke?

Can't we please have (4) more years of this Republican Katrina responding "deer in the headlights" piece of shit President?

Pretty Please !!!!

Dow Jones Tumbles To Below 9,000

George W Hover

Vote MC SAME
#3 | Posted by Zap


Actually, Vote Democrat just like in ELECTION 2006 and we'll be able to bring this puppy all the way down to ZERO!!!

Good Going Barney FRANK!!!!!

The DOW is going down faster than an Alaskan Governor at a high school pep rally


Dude
Utterly
Bankrupts
Young
America


Bastard
Utterly
Shafted
Humanity


Larry

#33 | Posted by LarryMohr


Bankrupt
America
Right
Near
End of
Year

Frame
Republicans
And
Never take credit for being a
Krook

Hey Larry who sunk the world markets dude?

"One might, however, easily imagine a 2000 point drop had nothing passed Congress."

#130 | Posted by Corky - Financial Guru

Some folks are incapable of learning.

#11 | Posted by danni at 2008-10-09 04:20 PM | Reply

PANIC!

EVERYBODY PANIC!!!!!!!!

I've got cash to invest, and your fear makes me rich.

PANIC!!!!!!

EVERYBODY PANIC!!!!!!!!


Can't we please have (4) more years of this Republican Katrina responding "deer in the headlights" piece of shit President?


Pretty Please !!!!

#35 | Posted by USATrueandBlue7


Why the hell would you want FORMER Louisiana Governer Blanco?

She's responsible for the screw ups in Louisiana.

She was voted out because of it.

Republican took her place, or did you block that out.

" Posted by vernon "

VERNOOOOOOOOOOOOOOOOOOON!!!

I MISSED YOU!! COME GIVE ME A KISS YA BIG LUG!!!

I've got cash to invest, and your fear makes me rich.


PANIC!!!!!!


EVERYBODY PANIC!!!!!!!!


#41 | Posted by vernon


You never knew that a dumbass Democrat like Barney Frank would make it so easy!

'She's responsible for the screw ups in Louisiana"

Just to see if you passed your civics class: who has the ultimate authority, Blanco or Bush?

With ultimate authority comes ultimate responsibility.

Dude Eddie try again You can't make a whole sentence for one letter. Only One wor per letter please Thank You.

For DaveTheWave. Since the United States claims to be the Head Honcho the Highest Hoity Toity Richest Capital of the world it's Dubya's fault. His and His administrations.

Larry

follow the acorns...

Soon time to add more to my position in Exxon.

Eddie lease et informed. Dubya is the one chiefly responsible for the Hurricane Katrina fuck ups. He declared a National Emergency thereby placing the responsibility upon FEMA and the Federal Government. Nice try however.

Larry

W had a 1000% batting average as a failure before being elected POTUS. It's almost as though he made a list:

-Get people to believe that 'unitor' line - CHECK
-Get people to believe I won't nation build - CHECK
-Make the American public believe I'm a fiscal conservative - CHECK
-Make the American public believe I'm a conservative - CHECK
-Be a 'divider' - CHECK
-Work on getting Saddam because he threatened my daddy - CHECK
-Make Americans fearful after 9/11 - CHECK
-Start that war we've had planned - CHECK
-Piss off our allies - CHECK
-Get the rest of the world pissed at us - CHECK
-Lie as much as possible - CHECK
-Be MORE divisive and call fellow Americans patriotism into question - CHECK
-Spend like there's no tomorrow - CHECK
-Borrow from Communits countries so they can build their military - CHECK
-Beat all records for deficits - CHECK
-Beat all records for national debt - CHECK
-Ruin the economy - CHECK
-Beat Richard Nixon's lows in the polls - CHECK
-Leave the largest mess for the next POTUS we can - CHECK
-Ruin the GOP's chances of ever having a majority in Congress - CHECK
-Ruin the GOP's chances of winning the WH - CHECK
-Leave everyone's retirement (BUT MINE!) in a shambles - CHECK

Largest failure as a President in American history - CHECK!

Just to see if you passed your civics class: who has the ultimate authority, Blanco or Bush?


With ultimate authority comes ultimate responsibility.

#45 | Posted by Danforth at 2008-10-09 05:36 PM |


Well Put...Bravo !!

So raising taxes on small business will help this how? Oh right, by the layoffs that will occur. And the requirement of small business to provide health care benefits to all employees? Again, the layoffs will help this situation. I get it! NOBAMA08!

SBA definition of small business:

ecfr.gpoaccess.gov

Some of you are going to kiss your job goodbye. Most Americans work for "small" businesses

"So raising taxes on small business will help this how? "

How many small businesses are in your neighborhood? And how many of those do the owners make MORE than $250,000 a year? We've got many in our area---gas stations, restaurants, shops---but the only folks who NET more than $250,000 are the doctors and (maybe) the lawyers.

How many small businesses are in your neighborhood?

I work for one tool! In Houston - there are probably tens of thousands. Your such a putz. A gas station? Get serious. My wife owned a old lady hair salon and it grossed 250k with 10 employees. Again -TOOL. Don't believe me - just wait. S corps are employee owned by the way - pass through income. Go look up the number of S corps.

And you forgot about the health insurance requirement.

"My wife owned a old lady hair salon and it grossed 250k with 10 employees. Again -TOOL.

Bwahahahahaha! You obviously don't know the difference between GROSS and NET. Taxes are only paid on the NET. Does your gas station or salon owner NET $250,000?

I guess that makes you the tool, and a dumbass one at that.

It coulda been a hairNET, Danforth. (wink)

Again...

So, how's them Reagonomics doin'?

"So, how's them Reagonomics doin'?"

I'm being trickled on.

Naughty Naughty Naughty Danforth. Shame fer Shame fer Shame.

Larry

We may as well flushed our IRA down the toilet. At least it would be fun watching the actual money go down the drain.

And Bush wants Americans to invest in their own IRA's! WTF?


You don't think part of the reason people are getting out of the market is because Obama will raise their taxes?

#25 | Posted by sawdust at 2008-10-09 04:49 PM | Reply |

That would be a wholly retarded reason to do so.

What is amazing, just like after the stock market crash of 1929, there will be voters lining up on election day to vote for Republicans. Some folks are incapable of learning.

What is Ohmama's plan? Haven't heard it yet. Just more blaming McCain.

Sorry for posting this its probably way over a librul's head.

www.nytimes.com

This sucks big time for folks who are ready to retire.

What is amazing is that folks blame Bush for the entire world economy.

What is, frankly, really ridiculous is that neither of the candidates has a plan to get us back on track.

Obama is the worse. FDR raised taxes during the Depression and that caused it to last years longer than needed.

Murphy isn't it true that the United States is declared to be the Financial Center of the world?? If this is indeed fact then it IS Dubya's fault the world markets are sinking. After all We declare Ourselves the Only superpower so by declaring that the President rightfully gets the praise when things go right and the blame when things go bad. After all He is the Chief Executive of America is He not??

Larry

Nikkei down almost 1000. Hang Seng will probably be down 2000. Dow Futures down 180.

Murphy- Don't know if you follow sports, but when the coach/manager does wins championships, they get sainted in their respective city. When they lose they get vilified and fired.

George Bush has presided over the worst financial collapse in since the Great Depression. Therefore, he is very responsible for what is going on. That's just the way it is.

And remember that the son of a bitch wanted to privatize social security. Give our old age money to Wall Street. God, how can ANYone still contemplate pulling a lever for the Bush heirs? herm

And remember that the son of a bitch wanted to privatize social security.

there is rhetoric and there is a real agenda. GWB knew that, even under great circumstances, there would have been no privatization of SS contributions. Personally, I think that was just bullshit to gather support from stanch republicans

"GWB knew that, even under great circumstances, there would have been no privatization of SS contributions"

WHAT? He spent his "political capital" on the plan, of course he thought it would pass when he began. But the approval numbers dropped and dropped during his year-long dog-and-pony loyalty-oath shows, as the more people learned the more they disapproved. He also got no major economist to sign on to his "plan" of no later retirement dates and no new taxes, all during a period of declining birth rates. Especially since he never bothered to mention how the $2 trillion price tag would be paid, or which generation would get the joy of paying for their retirement AND their parents' retirement.

But the approval numbers dropped and dropped during his year-long dog-and-pony loyalty-oath shows, as the more people learned the more they disapproved. He also got no major economist to sign on to his "plan" of no later retirement dates and no new taxes, all during a period of declining birth rates.

I am only giving opinion here Danforth but using your own post, are you saying he didn't know ahead of time that economists would not sign off on it or that the plan would fail when really illustrated to people?

His advisors are smarter than that Danforth. IMO, he knew this would never fly.

"are you saying he didn't know ahead of time that economists would not sign off on it or that the plan would fail when really illustrated to people?"

Both. He and/or his advisors didn't think it through.

Remind you of anything else?

Like I told you guys.. there is a LOT of pain on the downside.. I predicted we would have a 1000 point down day but the ban on short selling by individuals( not market makers) helped to exacerbate the downside and much quicker than I thought. Not being able to hedge you basically are trading naked.

I have dry powder for around the 7200 level UNLESS it blows through that mark without bouncing off..if it breaks that support level we are fucked its anyone's guess.

Pick what bargains you wish to own.. the time will arrive to buy.

Where there is panic and fear there is money to be made.

heres my post..

Krugman and other prophets of doom on the wacky left would welcome an economic meltdown because they could gain more power on "the March of the Volunteers" toward a Marxist Socialist State. Besides, Krugman is lonely living in the city with those non-working scumbags and he thinks we will all have to move back to join him.

#18 | Posted by fwthom

its not prophets of doom to point out that the fucking economy IS going to shit the bed starting this month..in a major way. If you think the bail out is going to work I have a bridge to know where to sell you.

The stock market will crater once the 10000 mark has been crossed.

japan did the same shit when the Nikkei was at 38K and it fell over 80% even with intervention.

Posted by Legio at 2008-10-03 06:14 PM | Reply
House Passes Bailout

The bail out wont do dick..

This is going to get rough.

You heard it here first.. we will see a 1000 point drop in October once 10,000 is broken down. We are testing resistance now. The business will start to fold in droves within 2 months. Credit is a like a log jam and you wont be able to get it flowing fast enough or soon enough..

If you are not in money market or cash you are a fool.

Plenty of pain to come.

Posted by Legio at 2008-10-03 06:11 PM | Reply

Remind you of anything else?

#73 | Posted by Danforth

Fair point. Privatizing SS has so many downsides that have pointed out that I just can't accept that it wasn't something other than a way for GWB to attract support from libertarianish kind of people.

But I certainly see your point.

"...the truth is, these are not very bright guys, and things got out of hand."
-All The President's Men

Just to see if you passed your civics class: who has the ultimate authority, Blanco or Bush?

With ultimate authority comes ultimate responsibility.

#45 | Posted by Danforth at 2008-10-09 05:36 PM | Reply

Apparenlty you didn't go to class.

The Constitution LIMITS the authority of the federal government. That's why the governor had ultimate responsibility -- which included ASKING for federal assistance.

"Apparenlty you didn't go to class. "

Ya gotta love the self-retorting retort.

"That's why the governor had ultimate responsibility"

What a fuckin' idiot. The President has the ultimate authority.

The President has the ultimate authority.

No, Tinkerbell.

He has the ultimate authority in matters regarding the federal government and its dissemination of resources.

Governors have the ultimate authority regarding the decision making of such things in their respective states.


64.233.169.104


b) Certain emergencies involving Federal primary responsibilityThe President may exercise any authority vested in him by section 5192 of thistitle or section 5193 of this title with respect to an emergency when hedetermines that an emergency exists for which the primary responsibility forresponse rests with the United States because the emergency involves a subjectarea for which, under the Constitution or laws of the United States, the UnitedStates exercises exclusive or preeminent responsibility and authority. Indeterminingwhether or not such an emergencyexists, the President shall consultthe Governor of any affected State, if practicable. The Presidents determinationmay be made without regard to subsection (a) of this section.2
------------------------------
------------------------------
--------------------
Page 7
CRS-42(...continued)emergency exists for which the primary responsibility rests in the Federalgovernment because the emergency involves a subject area for which, under theConstitution or laws of the United States, the Federal government exercisesexclusive or preeminent responsibility and authority. Any party may bring theexistence of such a situation to the attention of the FEMA Regional Director.Any recommendation for a Presidential declaration of emergency in the absenceof a Governors request must be initiated bythe Regional Director or transmittedthrough the Regional Director by another Federal agency. In determining thatsuch an emergency exists, the Associate Director or Regional Director shallconsult the Governor of the affected State, if practicable.(e) Other authorities. It is not intended for an emergency declaration to preemptother Federal agency authorities and/or established plans and responsemechanisms in place prior to the enactment of the Stafford Act.344

#43 | Posted by LarryMohr at 2008-08-28 10:35 AM | Reply | Flag: Flag: (Choose)
FunnyNewsworthyOffensiveAbusiv
e

64.233.169.104

There is a thread about "recession sex".

I've got news for you

We jus got fucked and no kiss at all!

Civics lesson for Danforth and Larry:

"The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."

Of course, the Constitution to you is just a godam piece of paper

www.snopes.com


"Governors have the ultimate authority regarding the decision making of such things in their respective states."

The disaster was multi-state. The President has the ultimate authority.

now's the time to buy... wait, now's THE time to buy... wait...

enough! someone tell me when it's time to SELL. wha?? it's too late? so it's time to buy?

Ah, now I have by own little bukkake covered stalker. How sweet!

Now, if it would care to show us it's evidence that conditions would not be worse now without that promised infusion of cash, since it is the one making that claim, it can go right ahead.... waiting.....

of course, the experts beg to differ:

Stalker? Nah... you're my economy punching bag. I do wish you'd make it a bit more difficult.

Logic 101: You can't prove a negative. Continue waiting...hopefully that will sink into your thick skull.

I have never said it wasn't going to be bad. I said the only question is, when are you going to let it be bad? This was going to happen either way...except if we didn't give in to economic terrorists, we wouldn't be a trillion more in debt. But you were suckered like the rest of the half-wits watching the evening news.

www.msnbc.msn.com

As markets tumble, Bush seeks to ease fears
President to make statement on work being done to address financial crisis

I feel much better!

I have a hunch today is gonna be really, really ugly.

I feel like just going back to bed.

"#87 | Posted by IraqiBukkake"

Very well put.

The argument is: "Trust me, it would be worse without it. All the people benefitting from the handout told me so."

It's so fucking retarded even I can see through it.

I guess that makes you the tool, and a dumbass one at that.

#57 | Posted by Danforth

The point was that if her little hair salon did 250k in BUSINESS that a gas station would be tremendously more profitable. The other tool said that there were not a lot of small business who profited 250k - Yeah her net was 250k what do you think the net was? What do you think the net profit is on $1mil - not a very big small business either - keep ignoring the subject and closing your eyes - tool.

But you were suckered like the rest of the half-wits watching the evening news.

#87 | Posted by IraqiBukkake


You mean like Obama? And the entire Clinton economic team from the 90's?

Like 90 percent of all economists?

Hell, banks are being nationalized all over the world at this moment.

It's so much easier just to be a whining little pissant while others step up to the plate and do what needs to be done, no matter how much they dislike it.


"The point was that if her little hair salon did 250k in BUSINESS that a gas station would be tremendously more profitable."

That's GROSS, not NET. Do you still not get it? And the point wasn't about who or what would be more profitable, it was on whether or not the majority of small business owners NET over $250,000. McCain claimed most did; the fact is, most don't.

"The other tool said that there were not a lot of small business who profited 250k - Yeah her net was 250k what do you think the net was?"

I'll pass on the fact I believe you're lying, and merely point out if she NETTED $250,000 or more, the increased taxes are ONLY on the amounts OVER $250,000.

"What do you think the net profit is on $1mil"

It depends on the margins and the cost of materials.

"not a very big small business either"

But if it's netting over $250,000 a year, it's in the top 5%.

"keep ignoring the subject and closing your eyes - tool."

You're an idiot. You were the one who changed the subject once I pointed out your stupidity.

Sorry to tell ya this, but the Stock Market is just finding the bottom where it's supposed to be trading at. About 8200. Even since about 1995 the Stock market has been trading far above what it was supposed to be trading at because (my speculation) the Federal Reserve had perfected the control over the interest rate. When they had that perfected, they cut loose a regular flow of fiat dollars. No one paid attention, but you can see evidence in the Dow.

Go to finance.google.com and find the Dow in the upper left and click on it. On the graph, grab the shutter handle at the bottom and slide it to the left to show the graph back to 1970. At the top of the graph click the settings tab and turn off the news tags.

Now you will see the entire graph and notice an upward trend that is suddenly upset in 1995, starting at about 4000. Now, follow that trend and it will end today (10/10/08) at about 8200. What is the Dow right now?

If it falls below the trend line, it's time to buy like crazy.


-it's time to buy like crazy.

Which is what will happen. Likely we will have one of the largest buying episodes in history when people's balls finally drop again.

It's so much easier just to be a whining little pissant while others step up to the plate and do what needs to be done, no matter how much they dislike it.

Yeah, step up to the plate and squeeze every last bit of money out of the crumbling market, all the while convincing you and everyone else in this country to dig their own graves.

What's the difference between you and 90 percent of economists? They are getting every dime they have out of the market and you are watching your 401k disintegrate into nothing.

It'll come roaring back. Somebody is gonna make a lot of cash.

I just heard on the radio that a large number of international finance companies have bought oil futures at as high as $147. Those contracts come due Oct 21? Is it? What is oil trading at now? $79


I have a hunch today is gonna be really, really ugly.


I feel like just going back to bed.

#89 | Posted by TedBaxter at 2008


WHY IS THAT..

gonna look in the mirror again...........

ba dump dump................yuk yuk


lol

Be prepared for the Gold Confiscation Act of 2008.

Going to need the gold to back the dollar to pay off the debt. Gov't will force you to give up your gold and pay you pennies on it.

Just watch. History repeats itself.

The good news: the NYSE didn't fall as MUCH as the rest of the days this week.

The bad news: seems like the Weapons of Market Destruction have been found and triggered.

Some advice from my Dad (a Great Depression survivor): it's not enough to have demand for a product outpace its supply. That only inflates the price, but does not increase the product's value. Inflating prices might look good 'on paper', but it does not increase one's wealth. Producing something of value increases one's wealth.

I read the numbers and then I read of McSame inciting his fans to hatred.

Wanna hear about cold, bitter, semi-rational anger at McBush's ruling party?

Let me tell you of HIS economy and the nest egg for my declining years ... herm

herm...that post is filled with nothing but fear mongering.................

keep that upper lip stiff..........it will be okay

Member, I mentioned it earlier, I think the Libertarians have some of the best ideas. Get us out of other countries, get the gov out of our lives. I am all for it.

#30 | Posted by sawdust

Bwahahaha!
The Looneytarians are just the 2nd class repubs the Big repubs(see Bob Barr) use to wipe the rethug stink off themselves every few years.
So-go ahead and vote Looneytarian-have a rethug watchin' over your shoulder-borrowing trillions of dollars in YOUR NAME-and giving it to his bestest buddies-just like the rethugs do.


You can blame the Democrats including Carter for this housing mess, they are the ones who passed the Community Reinvestment Act.


Lets make sure everyone gets a home loan even if they can't afford it, what a great idea that was.

"The (Community Reinvestment) Act was intended to reduce discriminatory credit practices against such neighborhoods, a practice known as 'redlining'.[4] The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation."

en.wikipedia.org

National debt since WWII: zfacts.com

Like I said, waterfront on Lake Travis for $15K.

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