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Investors are clutching their stomachs as the Dow Jones Industrial Average fell hundreds of points this morning, momentarily diving below 8,000 (with a 600+ drop) to under 8,000. Right now (9:48 a.m.), it's down 262 points at 8,316 points (down 3%). Nasdaq is currently down 1.5% and the S&P 500 is down 2.7%.
You can track how far the Dow is going with this one-day graph Yahoo Finance. Also interesting: the 5-day graph. And CNBC reports, "For those hoping that the seven-day blowout on Wall Street may have created a market bottom, there are two words to contemplate: Not yet."
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i guess my request to stop your fear mongering was futile.
it doesn't matter...stocks are heading back up now. recovered nearly everything
I'm investing all my money in torches and pitchforks.
"I'm investing all my money in torches and pitchforks."
lol. although I am lauging while crying.
Maybe the bottom's close. 8000? 7500? That seems closer to the real value of the market.
All I know, is the President did nothing to soothe the market just now. People are still worried and skittish. Nobody is definitively saying they know what is going on - which is in stark contrast to what all the wall street blowhards have been feeding us over the last 10 years of this hyperbubble.
i thought black friday was the day after thanksgiving.
No, invest your money in canned food and shotguns. Bars, strip clubs and heroin delivery also traditionally do well in bad economic times.
"i thought black friday was the day after thanksgiving."
Hmmmm..... THAT will be an interesting phenomenon to observe this year.
I'm just waiting to see if Chanel stops placing ads for $4000. watches on page 2 of the Times every day.
Here in Manhattan, I bet there's always gonna be someone buying those, no matter how low the Down-Jones Index sinks.
zodak - what do you do on thanksgivings?
oh wait, never mind, fuck me, i comment before i think.
figures...the market drops 200 pts after bush speaks again.
In other news Corcoran and the NY Board of realtors are reporting apartment and brownstone prices are still rising and the housing industry here is totally sheltered from the problem. Idiots.
sure 2 BR condos in manhattan may end up costing ~40-50k... but at that point, would the city be a place you want to live?
Problem is this country has no leader, which the American people can look up to and believe the government will fix this mess.
Congress is a complete joke and all Bush does is blow hot air. Does anyone actually believe anything he says now?
haha, fall! fall!
the problem is not the leaders, its the system
ditto, it's the system and their players.
not the leadership. greed.
To 'Optimist' above - In my case, Yes. I've lived, and wanted to live, in NYC for the past 30 or so years. Not like the deziens of sex & the city wannabees who've come over the last ten years to bask in the hyperbubble and who don't really like NYC unless it reminds them of Minneapolis or SF. I'm not saying I support the doom & gloom or return to the crime-laden streets of the 70's - just that you're either a New Yorker, or your not, good times or bad.
If there is no confidence in our leaders to fix the system then what will it be?
The best medicine for the market is to see some of these CEOs and their workers thrown in prison.
NY Times: "Every Recession Since The Late '50s Has Been Associated With An Increase In Crime"
ALL THE NEWS THAT'S FIT TO SCARE
Every group deserves a cheerleader,
No matter how socially minimal,
So thank you kindly, New York Timesmen,
From the group that's criminal.
The 70's might seem like the halcyon days when it hits the fan. I hope not, but its very likely. That many rich and poor in the city jammed together is going to get rough.
MANIC PANIC
Financial bust
A passing phase;
In GOD we trust:
The Good Old Days.
Too light in weighing?
Lacking mass?
Take heart in saying,
This too shall pass.
Government will let it collapse, riots begin, government will instill Martial Law.
Problem-Reaction-Solution.
Who were the retards that kept saying "it's a good time to buy" in every post? if you listened to them you would have lost your shirts. This is just step #96 in Bush's plans to destroy America. Step #99 is nuclear armageddon where he is in a bunker in the grand canyon with his progeny and they will re-populate the earth with bush kids.
George Bush: "Go shopping."