-300

[Stinky The Clown]

Big dump on Wall Street

This economy is getting REALLY fugly.

Recovery, my ass.

We NEED a MASSIVE federal spending spree.

[Riftaxe]

1. Yeah, dumping money at random

will really solve the problems...I am sure that those who ate the "shovel ready" money would love some more :P

[Armstead]

2. I sure hope I'm missing the sarcasm thingy here

[Riftaxe]

15. A few days late, *sorry*

but definitely sarcasm.

[L0oniX]

3. DIE!

[FirstLight]

4. crash & burn baby

I know this effects the little guys too, but right now i just want the rich fuckers to eat it.

let it go...tank baby tank!

[emulatorloo]

5. Wouldn't affect the rich at all. They pull out their money, they put it back in when the stocks are

priced low.

[REACTIVATED IN CT]

10. Its not only the rich and wealthy

who are affected when the market tanks.

It hits the working class, too.

I have stocks in my 401(k). I'll be 64 week after next and I want to retire in a couple of years and still be able to pay my mortgage and house taxes.

Even if you are covered by a pension plan instead of a 401(k), your employer will have to put more into it when the value of the investments go down.

[Warpy]

6. The only compensation is that scum like Cantor who were betting on default

are getting thoroughly hosed.

I was warned 4 months ago about this, that no matter what happened, the market would take a dump over it.

Since Boner has been crowing about how the Republicans got most of what they wanted, maybe this time, finally, the blame will be laid at their door. The Republicans seem to have fucked themselves over, at least for now.

Of course, the market goes up and down, and sometimes way down, all the time. We won't know if this is a true double dip in the market for another couple of weeks, at least. If the country repudiates the Republicans and finally does what it should have done 3 years ago, the market will stay down but it will be stable.

And that's the problem. People who got used to making paper profits on the price of stocks will start to have to look at earnings, instead, because those will be up.

I hate that a smart man like Obama is in Hoover's seat, but I realize this is always how things go. Should the Republicans run another nightmare ticket (and it looks like they will) and he gets another term with a Democratic Congress, I expect things to be quite different.

[thelordofhell]

7. And they have to sell stock to make up for their gamble

That's why this is happening.......a bunch of losers bet against America and lost. Now they have to cover their bets.

[Warpy]

8. A lot of them also know the jig is up

and their taxes are going to rise no matter who gets into office next. If the Republicans won't do it, the IMF will force it.

[nadinbrzezinski]

9. -400 just now on MSNBC

[JVS]

11. But I read here that the jobs report was kickass!

[Electric Monk]

12. .

[originalpckelly]

13. OK, this post was from yesterday.

Not today.

I don't know why someone would go back and bring it up.

[Waiting For Everyman]

14. Wow, you mean an economy built around only the top 2% is sputtering?

What a surprise. Who could've predicted this?

:sarcasm:

The rich need to get their lazy asses out and shop FASTER, dammit!

Oh and cut their taxes so they can spend more.