July 16, 2008
Wall Street Rallies, Consumer Prices Increase
The Dow ended the day up over 276 points to 11,239.28, thanks to higher-than- estimated profit at mortgage underwriter Wells Fargo. Even Fannie Mae and Freddie Mac rose over 15% today. The bad news: Consumer prices increased "at the fastest pace in 26 years", the FBI is investigating IndyMac for fraud and even usually "recession- proof" chocolate is hit during these harder times.
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Wall Street Rallies, Consumer Prices Increase
In other words, the rich get richer while the poor get poorer. So what else is new?
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"I'm afraid it's a bit more than fear. It's reality. Would you rather the media keep reporting blue skies when we're deep in the perfect storm?"
What happened to this spiritof76?? Yesterday you were part of the cabal foretelling the wholesale collapse of the American economy. Now Wall Street has a good day and you shift gears back into "die yuppie scum" mode?
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Stop trying to put words in my mouth, or on my keyboard, because you're terrible at it. The economy is bad. Certain parties will almost always still make money off it even if the rest of us lose our shirts.
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A strong economy is good for you, moron.
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What happened to this spiritof76?? Yesterday you were part of the cabal foretelling the wholesale collapse of the American economy. Now Wall Street has a good day and you shift gears back into "die yuppie scum" mode?
Saying the rich got richer and poor got poorer doesn't mean "die, yuppie scum."
spiritof76 is taking about the transfer of wealth that is happening on Wall St. due to the printing of money. Look at what the DJ is priced at in gold today, and what was priced in gold back in the 1920s or 1930s.
A strong economy is good for you, moron.
Duh. But we don't have a strong economy, and I think So76 is just lamenting the fact that we don't. All we do in this country is borrow and consume.
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Why such strong feelings about a typical day on Wall St.? Investors want to invest and so they were waiting for some bargains to come up after a week of heavy selling. So they bought. Big deal.