(Click pic to embiggen and feel the pain.)
And it probably ain’t over yet.
George Soros isn’t a happy camper about the future.
Will Obama’s tax cut help?
Thankfully, there is one piece of good news.
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And gold is creeping towards a thousand.
Great! Another post on the economic disaster followed by conservatives whining about the recovery measures and the White House thermometer setting.
Please let there be a sex scandal somewhere!
The Dow since Obama signed the Porkulus bill on Tuesday, 2/17…
Thank FSM we don’t have to worry about sharks!
Anything that makes George Soros unhappy is good.
By comparison, this crash is on par. It just happened over a shorter period. The 30’s crash was far, far worse.
So buck up (pun intended) everyone, put a few dollars into your favorite stocks and make back some of your losses.
#6 GE is a good buy right now.
Soros probably helped engineer the whole thing. Maybe he did it too well?
Shit, I have sharks chasing my ass all over town, CitiBank, IRS, Chase, County Tax Assessor…and I just know that one is gonna catch me and take a huge bite.
Where is that good news again? :>)
What’s unfortunate is the top 1% will still come out smelling like a rose. The bottom 25% (aka all of us) will suffer big time.
The DOW since Bush was in power….
Highest: 14,164
Leaves Office: 8,100
Bi9g drop after McCain’s campaign collapsed, recovery just when Obama’s chances dropped to near even and under 50%.
http://tinyurl.com/64jxdn
OK, Eric Cartman could be in the White House (my personal choice, but no one would listen) and the Dow would still be in the septic tank.
You know, it’s really sad because there were people out there telling us, with facts to support them, this was all coming. And nobody listened but instead laughed at them. Those of us who listened are doing just fine.
And the even sadder part is that no one listens to them still.
Sigh.
Those who act in a reasonible and prudent manner tend to do better than those who don’t.
We tend to either be fool hardy wastrels living off the next pay check or panicked children trying to borrow and spend our way out of dept.
I hope it works or we are all bleeped but the track record isn’t good.
# 15 deowll said, “but the track record isn’t good.”
It didn’t work for FDR, it didn’t work for Bush. One of the definitions of insanity is, doing the same thing over and over while expecting a different result…
#7, yup, a good long term prospect. Still has some downside IMO.
@15 Paddy-O
One of the definitions of insanity is, doing the same thing over and over while expecting a different result…
Sort of like trying to have a rational non-demagogic discussion with you. *rim-shot*
Too late to buy gold now. Back when it was less that $500 was the time. All bets are off in this mess. That’s why everyone is hunkering down with T bills. I wish to God I had cashed in my 401K a year ago and went to Vegas to play Blackjack. This really is uncharted waters, and any economist that says otherwise is a fool or delusional.
#18 Take a look at a gold trust like SPDR (symbol:GLD).
Gee, thanks a lot Uncle Dave. I almost broke my finger clicking on the “Good News.”
Stock prices, for the most part, are false numbers anyway. They are not based upon a companies true value but what someone else decides they are worth. Usually, they are twisted and distorted by rumors.
#19 RTaylor
I took half my 401k out last year before the big tanking and even with the penalty and taxes I still made out better than leaving it in.
This year we are already getting bent over with real estate taxes and all the shit Obomba wants to do.
Yeah!! Change we can believe in.
Don’t worry, the economy will turn around when the DOW hits 2K and houses are affordable again.
I think there are valid arguments on both side about this government plan. Will it raise the budget deficit? Probably. Will it help? That’s a good question, and I think reasonable people can disagree on this. Economies go through cycles. I read a good article on recessions and their history on
http://recessioninfocenter.com
John C Dvorak
On Friday at about 2:15 PM the S&P bounced off the Nov low by 6 points. That was the double bottom on the chart you gave me a link to.
So does John C D back up the truck and load it down with stocks on the double bottom of the S&P 500 ?
Paddy O
Are you Hannity ?
@26 lou
Don’t buy on the bounce buy on the thud. That way you can use the printed stock certificates to insulate your home.