Dow crashes 700 points again
POSTED BY: piratenews
UPDATED: Thursday, October 16, 2008 15:11
VIEWED: 926
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Dow Loses 8%
[Dow Jones owned by Communist China
www.piratenews.org/fox-news-owned-by-communist-china.html ]
Cindy Perman
CNBC.com
October 15, 2008
Stocks plunged Wednesday as worries about a possible recession [AHEM!] rattled a market already worried about whether or not government efforts to rescue the financial system will work.
The Dow Jones Industrial Average shed nearly 8 percent, or 733.08 points — 350 of which happened in the last hour.
Investors were wary after a slew of dismal economic reports, comments from Fed officials and a profit warning from JPMorgan Chase, sending major indexes on their way to retesting their Friday lows.
The Dow finished at 8577.91 and is now about 100 points above the low it hit last Friday, having made triple-digit moves in 20 of the past 23 sessions.
The S&P 500 shed more than 9 percent and the tech-heavy Nasdaq fell about 8.5 percent. The CBOE volatility index, considered the best gauge of fear in the market, jumped 26 percent to 69.25.
[Private international] "Federal" Reserve [Bank Corporation] Chairman [AshkeNAZI Khazar non-Semitic Satanic jewish bankster] Ben Bernanke said turmoil in the credit markets poses a “significant threat” [hahaha] to an already slowing U.S. economy, suggesting an openness to further interest-rate cuts [and counterfeiting another $5-trillion for his buddies billed to the idiot taxslaves].
Today’s retail-sales numbers were an early warning sign of how bad it’s become for consumers – and it’s only going to get worse, said Art Cashin, director of floor operations at UBS.
“The impact on the economy will only really begin to dawn on people in several weeks and maybe a month or so,” Cashin told CNBC. “I think the consumer has actually finally hit the wall and we’re going to see it as we get near Christmas.”
These "early reports spell clear recession in the third quarter as GDP is set for a big drop," Robert Brusca, of Fact and Opinion Economics, wrote in a note to clients following the reports.
www.cnbc.com/id/27201830
Funny when the Plunge Protection Team takes a day off from counterfeiting.
Guess its time to steal another $5-trillion from pension funds to export to the foreign banksters.
Quote:
"It's going to take a long time to effect a cure, just like when you take an antibiotic to affect a virus."
-White talking head on CNBC TV yesterday
ANTIBIOTICS DON'T KILL A VIRUS...
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"Only people with bomb shelters buy gold."
-Black talking head on CNBC TV yesterday
So Tom Cruise and Dick Cheney bought all the gold on planet Earth, now that all mints have stopped selling gold coins because they can't buy gold to make the coins.
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"Sell every stock you've got!"
-Jim Cramer on CNBC yesterday
Symptoms of an economic depression. No one wants to utter the word "depression." But the truth of the matter is that the American economy may be entering a state of free fall. Even the soberest economy watchers, pundits with doctorates -- whose dismal record in predicting anything tempts me not to mention this -- are prophesying dark times ahead. A depression, or a slump so deep it's not worth quibbling about the difference, appears to be on the way, if indeed it is not already underway. Start with the confidence game being run out of Wall Street. The sub-prime mortgage crisis occupies newspaper front pages day after outrageous day. Certainly, these tales of greed and financial malfeasance are numbingly familiar. Yet precisely that sense of deja vu -- of Enron revisited, of an endless cascade of scandalous, irrational behavior affecting the central financial institutions of our world -- suggests just how dire things have become.
www.latimes.com/news/printedition/opinion/la-op-fraser9dec09,1,1306484
.story
Poll: 60% say depression likely. Poll finds 6 of 10 believe a depression is somewhat or very likely - seeing 25% unemployed and millions homeless and hungry.
http://money.cnn.com/2008/10/06/news/economy/depression_poNOTIFY: N | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
TODAY: Dow Jones down 4,000 points and 30% in 12 months
www.djindexes.com/mdsidx/index.cfm?event=showAverages
That's $1-Trillion lost from pension funds.
Second worse day in Wall Street history.
Not counting 9/11/2001, when Wall Street was closed for a week, then reopened by killing 10,000 rescue workers.
Nationalizing the debt of all banks, except the private "Federal" Reserve Bank, of course, which annexed all profits.
Socialism = Fascism = Communism = Soviet Russia = Nazi Germany = National Suicide.
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