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Dow down 354

Boca

Boca

Governor
Cheapening our dollars (and your accounts) to the tune of 85 billion a month for 4+ years by printing Monopoly money in blue, yellow and pink is apparently about to end according to Federal Reserve Chairman Bernake.

So the smart money, the movers and shakers, are heading for the exits knowing the spigot is about to be turned off, while the dumb money out to lunch Obamabots are cheering an "improving" economy with 53 months of record unemployment, rising debt and deficits, and millions of workers being switched to part-time as a result of a bill never read but shilled as Affordable Care.

It's something historians will be trying to figure out for 100 years.....which is incidentally about the end of the time LBJ said he'd have ni&&ers voting Democrat.

Folks...there is a supernatural irony at play here. We don't live long enough to see it. Only historians can put it together. But it can be said, that God has a sense of humor.
 
Boca said:
Cheapening our dollars (and your accounts) to the tune of 85 billion a month for 4+ years by printing Monopoly money in blue, yellow and pink is apparently about to end according to Federal Reserve Chairman Bernake.

So the smart money, the movers and shakers, are heading for the exits knowing the spigot is about to be turned off, while the dumb money out to lunch Obamabots are cheering an "improving" economy with 53 months of record unemployment, rising debt and deficits, and millions of workers being switched to part-time as a result of a bill never read but shilled as Affordable Care.

It's something historians will be trying to figure out for 100 years.....which is incidentally about the end of the time LBJ said he'd have ni&&ers voting Democrat.

Folks...there is a supernatural irony at play here. We don't live long enough to see it. Only historians can put it together. But it can be said, that God has a sense of humor.
Click to expand...

Heading for the exits? Speak for yourself PJCon.. It was a good day to buy. If you can't take the heat,perhaps a savings account earning 0.5%/year is for you.
 
bdtex said:
Heading for the exits? Speak for yourself PJCon.. It was a good day to buy. If you can't take the heat,perhaps a savings account earning 0.5%/year is for you.
Click to expand...

was there a glitch of some sort....sure it was a good day to buy...however it would seem apparent that a 300+ point decline would lean toward a strong selling day. no?
 
I'll take -300 over -5,000, any day! And that begs the question.....was the Fed "printing" 10+x the dollars, when Li'l George was president?
 
It's weird. Gold was down percentage-wise today, by MORE than the DJIA was down. That sorta argues against the "cheaping our dollars" spew.
 
Boca said:
Cheapening our dollars (and your accounts) to the tune of 85 billion a month for 4+ years by printing Monopoly money in blue, yellow and pink is apparently about to end according to Federal Reserve Chairman Bernake.

So the smart money, the movers and shakers, are heading for the exits knowing the spigot is about to be turned off, while the dumb money out to lunch Obamabots are cheering an "improving" economy with 53 months of record unemployment, rising debt and deficits, and millions of workers being switched to part-time as a result of a bill never read but shilled as Affordable Care.

It's something historians will be trying to figure out for 100 years.....which is incidentally about the end of the time LBJ said he'd have ni&&ers voting Democrat.

Folks...there is a supernatural irony at play here. We don't live long enough to see it. Only historians can put it together. But it can be said, that God has a sense of humor.
Click to expand...
Obama's economy not ready for the training wheels to come off, still far too weak.
 
We can't be a free-market economy with the Federal Reserve dictating our currency.. by definition.

As long as it is controlled, we are.

End the Fed.
 
How MANY times since the Spring of 2009.....has the Right taken any drop in the Dow as a "sign of Obama's imminent destruction of the economy", "hyperinflation", "gold to $2500 an ounce", "It's dropped below 10K today, obviously crashing, will 3500 be the basement?", etc.....fifty, a hundred times (half of them Lukey's and worldyb's :) )?

And the Dow kept climbing and climbing.

Will there be a correction....sure? Will it be down to the level that Bush gave Obama in the first three months of 2009.....no.

But the Rightwingers DESPERATE for bad economic news...will claim it is. :)
 
fairsheet said:
How's what, given that the dollar isn't backed by gold?
Click to expand...

Forgotten your argument already?

Gold was down percentage-wise today, by MORE than the DJIA was down. That sorta argues against the "cheaping our dollars" spew.

So then, now that you're back on track I'll simplify the question..... how does a lower price of gold argue against or nullify the fact that if government prints trillions of new dollars, existing dollars are worth less?
 
Boca said:
Cheapening our dollars (and your accounts) to the tune of 85 billion a month for 4+ years by printing Monopoly money in blue, yellow and pink is apparently about to end according to Federal Reserve Chairman Bernake.

So the smart money, the movers and shakers, are heading for the exits knowing the spigot is about to be turned off, while the dumb money out to lunch Obamabots are cheering an "improving" economy with 53 months of record unemployment, rising debt and deficits, and millions of workers being switched to part-time as a result of a bill never read but shilled as Affordable Care.

It's something historians will be trying to figure out for 100 years.....which is incidentally about the end of the time LBJ said he'd have ni&&ers voting Democrat.

Folks...there is a supernatural irony at play here. We don't live long enough to see it. Only historians can put it together. But it can be said, that God has a sense of humor.
Click to expand...

The Fed is behaving irresponsibly. By law, they're supposed to keep inflation and unemployment down. They've succeeded far beyond their target when it comes to inflation, while failing horribly when it comes to unemployment. As such, they should be signalling that they will keep buying up assets as long as it takes to get back to full employment -- even if that means inflation is going to rise back to historical norms. Instead, they've irresponsibly signaled that they'll soon taper their activities: essentially signalling that they prioritize keeping inflation at ultra-low levels over getting unemployment back to something decent. The market, understandably, has reacted to that signal of future monetary restriction by selling off stocks and bonds.
 
Mr. Friscus said:
We can't be a free-market economy with the Federal Reserve dictating our currency.. by definition.

As long as it is controlled, we are.

End the Fed.
Click to expand...

Every advanced economy in the world has something equivalent to the Fed. There's no sign you can even have a generally prosperous modern economy without that kind of central bank in charge of the currency. What are you picturing in place of the Fed? How would money supply be handled?
 
Boca said:
Forgotten your argument already?

Gold was down percentage-wise today, by MORE than the DJIA was down. That sorta argues against the "cheaping our dollars" spew.

So then, now that you're back on track I'll simplify the question..... how does a lower price of gold argue against or nullify the fact that if government prints trillions of new dollars, existing dollars are worth less?
Click to expand...

Get a clue. If the DJIA is down because of a "cheapened dollar", then gold would be up.
 
Boca said:
I didn't say the Dow was down because of a cheapened dollar.
Click to expand...

After what President Obama inherited from Bush....it's kind of hard for you to claim the Dow is down...at all, isn't it, Boca????

BTW, two hours to closing bell.....the "collapsing Dow"?

14754.11
 
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