Dow closes down triple digits as stocks end one of worst first weeks ever

[reformist2]

Last edited Fri Jan 8, 2016, 07:38 PM - Edit history (1)

Source: CNBC

U.S. stocks closed lower Friday as concerns about China that weighed throughout the first trading week of the year persisted into the close. ( Tweet This )

The major indexes ended the week with losses of nearly 6 percent or more, their worst since 2011 and one of their worst starts to a year. The Russell 2000 also had its worst week since 2011.

The Dow Jones industrial average and S&P 500 had their worst first five-day performance of a year in history, according to preliminary data from Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.


Read more: http://www.cnbc.com/2016/01/08/us-markets.html

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It looks like 2008 all over again. It could shake up our politics in similarly surprising ways...

[houston16revival]

1. It is 2008

because structurally little has changed. We just threw Fed money at everything.
Money remains at the top. Gas is cheaper, absent that we'd really be squeezed.

[Warpy]

2. Sic transit glorious money

I've said for a very long time that the hyperinflation cycle is over. The market has been essentially flat for many months. About all that was holding it up were corporations buying their own stock in an attempt to keep the price up for their executives and the fact that interest rates have been in the toilet and there was no other way to have one's money make money.

As usual, the people who will be hurt the worst are people with 401K plans. Once again, the amount might be down low enough that everything is eaten up by outrageous management fees.

Whether this is the long awaited and very necessary correction or the beginning of The Big Dump remains to be seen. I'm betting it's the former. The latter would be a little more dramatic.

[brooklynite]

3. I'm still putting money in regularly...

...the markets go up and go down in the short term. In the long term, it's still the best opportunity for growth

[SoLeftIAmRight]

9. exponential on on axis - linear on the other - bad bad bad

those who retire at a dip are fucked and this graph does not do justice to their problem

"cut it out"

[brooklynite]

10. And where do y our assets go?

Hiding them under the mattress doesn't pay that well...neither do bank savings (which I have as well).

[SoLeftIAmRight]

11. about 200 k to my daughters education

the rest on the best food I can buy

oh and the animal

[SoapBox]

4. Thanks a lot Wall Street Brain Surgeons.

And like Warpy said...we the little people lose...Wall Street and "management" organizations just keep taking their fees.

[Wellstone ruled]

5. It is called China's

payback for the IMF putting the kybash on Brazil,Russia,South Africa,and China forming their own wold bank. And the Complete Collapse of Commodities Market. This will put tons of pressure on the American People during a really tough Presidential Election year. Watch for the Rethugs to hammer Obama on this in the next few days.

[millbrooky]

6. Stocks will rebound

As they always do.

[valerief]

14. Once the American taxpayer makes a massive bailout. Again.

We either get hit for WAR or GAMBLING, and the wealthiest have all the fun at our expense.

[LS_Editor]

7. "Weekend at Bernie's Economy" Continues to Screw Most Americans

Ha! It's the "Weekend at Bernie's Economy!"

Summary:

The Fed warns it can only keep the Weekend at Bernie's Economy going for so much longer, as the insatiable greed of those who are already fabulously rich and the unsustainable debt carried by a large number of Americans will inevitably threaten to bring the American economy down again.

"Weekend at Bernie's Economy" Continues to Screw Most Americans

Excerpts:

WASHINGTON (The Nil Admirari) - Earlier today, the Federal Reserve confirmed the trillions of dollars it had printed and handed over to the financial sector to stimulate the economy since the 2008 financial crisis went almost exclusively to the richest Americans - and stayed there making them even wealthier. The Fed dubbed the unsustainable shadow economy it was running the "Weekend at Bernie's Economy" due to all of the strings it had to continue to pull in order to make it look like the economy was alive and working well for everyone when it only benefited a very small group of extremely rich investors.

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Yellen added, "While the vast majority of Americans are being told they need to tighten their belts and brace for austerity measures that cut into government services, the people largely responsible for the 2008 financial crisis are even wealthier. Far too many regular Americans are also carrying unsustainable debt, making less money, and continuing to lose their homes."

More @ link...

[JoePhilly]

8. Keep your fingers crossed!!!!

I'm guessing.

[MeNMyVolt]

12. Pretty much, based on other posts. n/t

[phantom power]

13. weak economies are bad news for incumbent political parties

It worries me with respect to the presidential election.

[truthseeker1]

15. Link not working

[elmac]

16. I think there is a real big chance that this stock market

will either go up, down or sideways this year.

[LS_Editor]

17. How has the corporate media not given you your own show?

[elmac]

18. I turned them all down

can't handle the fame and fortune, which is why I don't play the powerball either.

[Lucky Luciano]

19. The lottery apparently has positive expected value now! Almost $1B! nt

[99th_Monkey]

20. Kick for exposure. n/t