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- ccb621, on 09/15/2008, -10/+176Which animal best describes the current U.S. market/economy?
A. Bull
B. Bear
C. Pedobear - jgatz, on 09/15/2008, -54/+216This is Bush's legacy
- Reaktor5, on 09/15/2008, -14/+111Yes Hannity and Bill-O, this recession is just in our heads. If we don't think about it then it's not real!
- linkdj, on 09/15/2008, -13/+109D. Mon Calamari
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: : : : : : : :¯’’~~~~~~’’’ : : : : : : : : : : : : : : : : : : | : : : : : : : : : - mysticalone, on 09/15/2008, -4/+86I blame the 1600s colonists, IF ONLY WE HAD STAYED WITH KING GEORGE, NONE OF THIS WOULD HAVE HAPPENED.
- inactive, on 09/15/2008, -2/+76And oil dropped to $95 a barrel early on in the day.
- inactive, on 09/15/2008, -25/+97tough to blame one guy for everything, I would look more at congress...
- deleo, on 09/15/2008, -7/+66The economic growth that we have had over the past few years has been nothing more than a mirage. It wasn't built on new jobs and rising incomes, it was built on giving loans to people to buy homes they couldn't afford. That led to more construction and more consumer purchases of things like refrigerators and dishwashers etc. when they bought their homes. That is where the economic growth came from. But it was all built on matchsticks and held together with scotch tape.
Now there is nothing but ruin in the financial markets. Wall Street's pain today will lead to Main Street's pain (or more pain) in about a month or two. This is going to keep going on and both the President and Congress are to blame (but mostly this one is on Bush). He artificially inflated the economy to fund the war and now the American people are left holding the bag. Now he gets to go back to Crawford and retire on his ranch while the American economy heads down the drain. I wonder if he even cares. - PhantomRogue, on 09/15/2008, -6/+60Its easier to blame congress than it is to blame the millions of Americans that spend over their limits. Weak understanding of money and knowing what you can and can't afford is a DIRECT cause of this financial chicane.
I refuse to blame Congress and Bush without also blaming the millions of people who are too ignorant to understand the world they live in. - SimmaDownNow, on 09/15/2008, -34/+83This just in... Trickle Down Economics does not work!
- profchaos155, on 09/15/2008, -6/+54Manbearpig?
- xerexes1, on 09/15/2008, -4/+48Perhaps, but this is a case of rotting from the bottom up. Too many people took out larger mortgages than they could afford, at ridiculously low interest rates. These mortgages were then sold to banks and brokerage houses around the world. Then the interest rates went up, and suddenly people couldn't afford their mortgages.
This is a demolition. - diggspellcheck, on 09/15/2008, -7/+51"The Dow Jones industrial average dropped more than 300 points in just under 10 minutes of trading, "
Too bad the NY Times doesn't know the concept of Dow futures. The 300 points was already reflected on the Dow futures before the stock market opened. The stock market sold off to come in line with the futures. There are many days when the Dow moves huge numbers in the few minutes of opening. - Silv3Ro, on 09/15/2008, -0/+41C. Pedobear
as in: "our children are pretty much screwed..." - andyb747, on 09/15/2008, -7/+45Hadron Collider.......turn this ***** thing off before any further damage is caused
- inactive, on 09/15/2008, -17/+51Right the Republican Congress of 2002 overhauled the financial markets with radical deregulation legislation, that Bush signed.
I am surprised it took 6 years to collapse. - readacook, on 09/15/2008, -4/+37Once again the conservative sandwich-heavy portfolio pays off for the hungry investor!
- mugupo, on 09/15/2008, -9/+42I think we might seen even a worst Stock Market than 9/11 before Bush leaves the Office.
- David1752, on 09/15/2008, -3/+36Funny its not reflected in the gas price!
- mfc5200, on 09/15/2008, -16/+48Don't forget about stock plunge of 2001/2002. The 90's tech bubble was also George Bush's fault.
Get real, he's a terrible president sure, but you can't blame everything on him. - iloveobama, on 09/15/2008, -11/+41Ron Paul predicted this many years ago and knows how to fix it. Yet, the idiot masses elect McCain and Obama who want to keep going the same direction.
- cadmiumpaint, on 09/15/2008, -8/+37you mean the 6 years of Republican congress that went along with Bush that created all the damage. yeah you're right.
- laserdog, on 09/15/2008, -7/+33Nothing at all:
"Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
Thanks to our policies, home ownership in America is at an all- time high.
Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home.""
-George Bush, 2004 nomination acceptance speech. - jeffvvisoft, on 09/15/2008, -2/+28And pump price going in the opposite direction...
- bigdoof, on 09/15/2008, -11/+34This just in: this has nothing to do with Trickle Down Economics!
I swear, people hear love to pick up on buzz words and toss them around indiscriminately, so long as it somehow trashes Republicans. - inactive, on 09/15/2008, -5/+26You are mistaken. The tech bubble cracked in 99 and 00. The 2001/2002 melt down was caused by Enron, one of Bushes best friends.
- DiggyWiggy, on 09/15/2008, -3/+23"I'll tell you who should be tortured and killed at Guantanamo: every filthy Democrat in the U.S. Congress."
-Sean Hannity 6/15/05 - screamingjoker, on 09/15/2008, -1/+21In 1994 the newly elected majority republican congress gave Alan Greenspan and the fed the power to regulate lenders to make sure they weren't lending to people who were too high risk without proper collateral. Greenspan had no intention whatsoever of regulating anything, and the Republicans knew it, or else they wouldn't have given the fed so much power. So you had Anti-Regulation Greenspan and Anti-Regulation congress who oversees the fed basically agreeing to not do thier jobs and oversee the securitization of loans (selling debt, based on little collateral)
As for BUSH and McCain remember them in the south west in '06 telling new immigrants and low income families they too should persue the American Dream of home ownership. That message was seen as good sound advice from men who would never steer you wrong ...well a lot of people apparently listened to that advice. Banks frothed at the mouth of lending to all these people.
Fault ultimately lies with the banks, if a bank cannot prudently secure the lending of its own clients and shareholders money, then it is failing in its basic function. - alex7575, on 09/15/2008, -2/+21So the ***** hit the fan and now it's finally beginning to be flung around...
- Chuck1988, on 09/15/2008, -5/+24WTF are you talking about?????? Buy an economics book, or take a class, or justify that stupid ass statement. While I agree bush is something of a ***** up, in this day n age you can't blame a ***** economy on a president.
The Executive branch of government only has soooo much influence on the economy.
You should blame the legislature, the federal reserve bank, corporate greed on behalf of banks n' mortgage companies, but when your done dishing the ***** out you should get in front of a ***** mirror and blame your self's (we are addicted to debt).
This is the legacy of Greenspan, Bernankee, and all of us dumbass Americans who are up to our eyeballs in debt and upsidedown on our mortgages. - joshf52, on 09/15/2008, -4/+23That's debatable. There are basically two schools of thought.
- rocke86, on 09/15/2008, -1/+20I wouldn't call Americans idiots they are just misinformed, busy, and distracted. If we could just get past all of the brain washing and explain what is going on we would be able to stop it.
A good analogy is cattle being led into two pens, but both pens lead to the same slaughter house in the end.
Hopefully America wakes up before it is too late. - David1752, on 09/15/2008, -6/+25Hannity can kiss my ass!
- nicepants, on 09/15/2008, -5/+23Right...because everyone knows that the president alone controls the stock market.
- dagamer34, on 09/15/2008, -1/+19Oh how $4.50/gallon has caused us to think that $3.25/gallon is cheap. Shame on us.
- chrissku, on 09/15/2008, -1/+18I guess it's better than I expected. I really thought we'd see the market shed 600 pts. today. Now we have to figure out a way to pay for all these bailouts. Our entire financial system is merely a house of cards right now.
- jeffvvisoft, on 09/15/2008, -5/+22Guess Sarbanes-Oxley Act of 2002 (increased regulation around financial reporting for public companies) didn't help
- whatthefu, on 09/15/2008, -1/+18Hey hey hey, the Congress of the past eight years has given him some assistance so let's give them a round of applause also.
- cadmiumpaint, on 09/15/2008, -12/+29if you elect McCain you'll see more of this but on a much larger scale.
- solistus, on 09/15/2008, -3/+20These practices were pushed on people lacking the financial knowledge to understand that they were bad deals by predatory lenders. Newsflash: you can't control the direction of the market by hoping people will just decide not to take a certain kind of loan. If a certain kind of lending practice (it wasn't just the high-risk mortgages, but the bundled reselling of those loans) can be devastating to the economy, that sort of practice needs to be banned. Contrary to discredited 18th century political economy, people are not even remotely close to being rational actors in microeconomic terms; only rational macroeconomic policies can correct this.
In other words: if you want to know who to blame, look to the former McCain top economic adviser Phil Gramm, who put in place the loopholes that made these practices legal for the first time in the US. It only took a couple years for this to lead to an economic meltdown. Maybe deregulation isn't a magic wand that always makes things better? - GeneralFault, on 09/15/2008, -2/+18Enron was caused by a couple of old Bush friends and supporters. It was also enabled by McCains recent economic adviser, Phil Gramm, the architect of the "Enron Loophole". Something I'm still paying for even now with ultra-high electric prices here in California. As if rolling-blackouts were not enough.
Keep that in mind. McCain's economic adviser created an economic policy that resulted in me not having electricity for several hours a day several times in 2001 as if I was in a 3rd world country.
Not only that, but the very same guy was heavily involved in the massive economic housing crisis that we are in right now! - dreicher, on 09/15/2008, -1/+17What grade did you get in your English class?
- inactive, on 09/15/2008, -2/+16Actually it is. It's just that other factors like a massive hurricane striking the center of US refining operations are also reflected in the price.
- kadio, on 09/15/2008, -1/+14dugg for accuracy
- pandaboy99, on 09/15/2008, -2/+15Greedy unregulated financial lender + uneducated borrowing consumerist = EPIC FAIL for avg joe taxpayer who chose to stay in their crappy apartment because they werent gullible enough take a loan they knew they couldnt pay back
- pandaboy99, on 09/15/2008, -0/+13You mean turn it on to full blast to end everyones suffereing!
- HeyaBILL, on 09/15/2008, -0/+12If it goes lower than 10,845 (previous low made in mid-July) then I think we could see it hit ONE DOLLAR, BOB.
- psycoborg, on 09/15/2008, -11/+23please please please... dont blam JUST bush. ALL of congress is at fault. it is both the DNC and RNC who are to blame. i know there will be finger pointing going both ways. it is because they all are to blame. not just bush. the USA is bankrupt.
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