CNN Breaking News

Dow’s 400-point plunge at market’s close is year’s biggest loss after weak jobs data and oil-price surge.

16 Responses to “CNN Breaking News”

  1. David K. says:

    Economies doing fine folks, no recession here…

  2. dcl says:

    Free fallin’ now I’m… Free Fallin’

  3. CORNHUSKERS 94 95 97 says:

    Economy in the toilet, war, oil, gas, mortgages, banks failing and global warming!

    How can Obama mucked this up bad enough to lose to a Repub that the Repubs find uninspiring?

    This is why Hillary is really peeved if you ask me and IMHO this election will be a cake walk for any Democrate smart enough not to lose it.

  4. teresa says:

    I’m not saying a 400 point loss is okay, but you realize it went up over 200 points yesterday, right? Have you looked at the bigger picture? Go to Google Finance, and look at the Dow charts.

  5. Sandy Underpants says:

    I hope the dow hits 5000, not because I wish ill will on America, but I don’t see what difference it would make. The one thing I do know is that someday, it will be higher than it is today. Maybe next Friday.

  6. Alasdair says:

    teresa – apparently you have not been reading this blog for sufficiently long to realise that such details are not sufficiently “nuanced” …

    The people complaining bitterly about the rise in unemployment don’t want to dirty their pretty (yet cherry) brains with the fact that the highest rise in new jobseekers was in the 16-24 year olds … those who, by an amazing coincidence, tend to be the minimum wage earners, which minimum wage has been raised recently, and will shortly be raised again … the fact that some of us realised in advance that such raises aren’t unalloyed beneficial acts …

    {sarc}In particular, you can see how the D-List folk are suggesting constructive solutions, rather than just indulging in partisan gloating over the sufferings of others … {/sarc}

  7. David K. says:

    Theresa, the bigger picture has the following features:

    – Skyrocketing gas prices

    – Dropping value of the dollar

    – Stagnant (at best) employment

    – Housing market bubble pop

    And now a significant drop in the stock market.

    Is it the end of the world? No, but the economy is NOT doing well, and the sooner we admit there is a problem the sooner we can fix it.

  8. David K. says:

    Alasdair, i’ve come up with something that would make me change my mind a little bit about George W. Bush. He could deport you, that would be an improvement.

    Your sarcastic comment was also a stupid comment. This isn’t partisan gloating. I’m in no way pleased with what is happening to our economy. Its broken and it needs to be fixed. The only partisan part of it is how much of the blame falls on the administration. But that only helps us identify the cause, finding a solution will take that an dmore info. But before we CAN fix it, we have to admit its broken first. Open up your eyes for once and quit making everything about partisanship, this is an issue that affects EVERYONE and our leaders need to step up to the plate and be straight with us and come up with solutions. Piddling tax rebates aren’t going to kick start this economy. We need better. And we certainly aren’t getting the help we need now.

    As for solutions? How about we quit tossing billions of dollars away and amassing grotesque amounts of national debt? That would be a good idea for starters.

  9. teresa says:

    David – I agree with you in part. I think our two big issues are fuel prices and housing. I think the other issues follow. IMO, the housing issue was caused by people buying more house than they could afford, with an ARM. Now the companies that loaned them the money have to accept their losses.

    We don’t set the price of oil, so I don’t see how we are going to fix fuel costs anytime soon. As long as the oil processing companies have to pay market prices for oil, gas is going to be expensive. If President Obama follows through with his promise to “punish big oil for their windfall profits” it’s just going to get worse.

  10. Mad Max, Esquire says:

    Technically we are not in a recession. We weren’t in a recession during Carter’s term, either.

  11. Alasdair says:

    David – how do *you* interpret the first two comments on this post as anything except partisan gloating ? They suggest no solutions, they simple express glee in the existance of the problem(s) …

  12. Alasdair says:

    teresa – while we cannot change the price of oil overnight, we could be taking steps to increase domestic production of oil, and to increase other energy sources … in the current Congress, the GOP are trying to get solutions put through, and the Dems are characteristically blocking ’em as fast as they are proposed …

    At the relevantly-named PowerLine blog, they show the most recent help that the Democratic-controlled Congress has been trying to provide – details here … it is quite instructive as to who is trying to solve the problems and who are trying to keep ’em going at least until the November election …

  13. David K. says:

    Glee? You think dcl and I are HAPPY our economy sucks so much?? Only a brain dead lying dumbass moron like you could extrapolate that much crap. You are a partisan hack Alasdair, and a lying one at that. YOU ARE ALWAYS WRONG. Have you noticed that the price of gas has nearly trippled since Bush started his war in the middle east? Gee….wonder where the connection is…

  14. teresa says:

    David – I think glee might be the wrong word, but a poor economy hurts the incumbent party during an election.

    Alasdair – I agree with you – we need more access to our own resources. But, even if ANWR was available tomorrow, it would be years before it would provide oil. I wonder, though, if OPEC’s response would be to increase production in the short term.

  15. Sandy Underpants says:

    There are practical and simple solutions to the oil price crisis, the stupid ass (and his minions (Alisdair)), who drove us into this ditch, sure as heck aren’t going to drive us out of it (if you haven’t learned that yet after re-electing Bush). But Bush=Jimmy Carter 2000, and using South American oil and actually sitting down to discuss solutions with world leaders (something Bush refuses to do) will be a start. Unfortunately Barrack Obama has another 6 months before he can pull this country and it’s economy out of the crapper the Republicans flushed it down. But he will. A half load retard could do a better job FOR the country than the american traitor in the white house today.

  16. Alasdair says:

    teresa – the Ramirez Cartoon for April 30, 2008 here shows what happens when we listen to the folk who say “It’ll take years so there’s no point in getting started …” … we could have started back in 1980 – and ANWR would have been online, supplying oil and revenue to this country for well over a decade at this time …

    The same political party which blocked it back then has continued to block it since, and continues to do so today …