Dow Drops More Than 500 Points

Worst day since 2008

Market Report - Aug. 4, 2011 - CNNMoney (http://money.cnn.com/2011/08/04/markets/markets_newyork/index.htm?hpt=hp_c1)

I'm sure this is Bush's fault some how.

Yeah. Not good. There is just not a lot of job creation going on, stimulus has run its course and, on top of that, the "quantitative easing" and stimulus has flooded the economy with money - markets can see that. Lots of people are predicting serious inflation over by the end of 2012 (8 - 12%).

Yeah. Not good. There is just not a lot of job creation going on, stimulus has run its course and, on top of that, the "quantitative easing" and stimulus has flooded the economy with money - markets can see that. Lots of people are predicting serious inflation over by the end of 2012 (8 - 12%).

But I thought we were giving tax breaks for rich..I mean "job creators" so they can create jobs? :doh:

Yeah i think markets were really looking for a debt deal with around 4 trillion in cuts, not a 1.2 trillion deal without any revenue increases or entitlement reform. S&P is prob gonna downgrade us debt within the next 6 months, moodys might too. That combined with recent poor earnings and economic data makes for bad markets, and in this case real bad. I think qe3 is probably more of the boost to stock markets, a weak dollar and easy money is usually a positive to equities.

This is going to need to get moved to the politics forum real soon lol.

But yes, it's all Bush's fault. Funny Onion article today:

Obama Turns 50 Despite Republican Opposition | The Onion - America's Finest News Source (http://www.theonion.com/articles/obama-turns-50-despite-republican-opposition,21061/)

So what does this mean? Is this a double dip recession?

This is going to need to get moved to the politics forum real soon lol.

But yes, it's all Bush's fault. Funny Onion article today:

Obama Turns 50 Despite Republican Opposition | The Onion - America's Finest News Source (http://www.theonion.com/articles/obama-turns-50-despite-republican-opposition,21061/)

Yeah I suppose I should put it there

So what does this mean? Is this a double dip recession?


Ive heard a lot of things from completely partisan resources this week and largely the consencious is the likelihood of another recession in the near term is unlikely. Markets may be considered leading indicators but they are ususaly overly speculative.

Although i did hear yesterday that 70% or so of Americans still think were in a recession. So to most it doesnt really matter, theyre still hurting if we are technically in one or not.

Ive heard a lot of things from completely partisan resources this week and largely the consencious is the likelihood of another recession in the near term is unlikely. Markets may be considered leading indicators but they are ususaly overly speculative.

Although i did hear yesterday that 70% or so of Americans still think were in a recession. So to most it doesnt really matter, theyre still hurting if we are technically in one or not.

Either way something needs to be done to encourage firms to start hiring again. No one is going to go anywhere if companies keep hoarding cash. For better or worse it looks like Obama is going to loose reelection.