Bush economy, 9/29: Dow lower than when he took office; debt 72% higher, stocks lose $1.1 trillion

[ProSense]

Are you better off than you were eight years ago?

Marcy Wheeler breaks down the numbers:

DOW January 19, 2001: 10,587.59
DOW September 29, 2008: 10,365.45

NASDAQ Jan 19, 2001 = 2770.38
NASDAQ September 29, 2008 = 1983.73

CPI, January 19, 2001: 175
CPI, September 29, 2008: 219

Dollar exchange with Euro, January 19, 2001: 1.068
Dollar exchange with Euro, September 29, 2008: .695

UPDATE CBS News's Mark Knoller notes that the national debt has grown 71.9 percent since Bush took office, "more than under any previous president."

Following bailout failure, Dow has ‘worst point drop ever.’

After the House failed to pass bailout legislation this afternoon, stocks tumbled “with the Dow’s nearly 778-point drop being the worst single-day point loss ever.” Today’s drop surpassed the “the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks.”

UPDATE According to Bloomberg News, "stocks lost $1.1 trillion in value, meaning the market loss was larger than the size of the $700 billion bailout."

[zeemike]

1. I am curious to know

When they lost that one trillion where did it go?
Did they just misplace it like I do my wallet sometimes?
Or was that money all on paper...not real at all but just part of a scam.

[RoccoR5955]

2. It's all nothing more than a scam.

Money is based on nothing but speculation. Before the Fed, it was based on precious metals, but that is out the window, and money is only worth what the people who print it, and others that speculate about it, say it's worth.
That's like the 700 billion for this bailout. Where did that money go to? Get it back from the billionaires who stole it, and you will not have to lay out one penny. Jail to the thieves. They got the economy into this crapper, they should have to pay, not WE THE PEOPLE.

[ProSense]

3. The losses are in value, just like the money loses value. n/t

[krkaufman]

4. Good. She's included the drop in the value of the dollar, as well.

Ugh.