That was close, the Stock Market was almost in a Panic today.

I hope there isn't one, but I'm afraid there will be a Recession and Obama will take a higher lead than he does now.

The Dow lost like 800 points, and that's not a panic?  :D

You must have a really strong stomach fortitude.

It's times like these that I'm glad I don't invest in the stock market.

I remember when it was a big deal for the stock market to hit 1,000!
:P

actually 777 points were lost today, but it's still pretty darn serious. >:( It had to do with the House rejecting a bill.


I remember when the DJIA first broke the 10,000 mark; it was exactly 9 1/2 yrs ago, FTR. If it falls back below that mark, then... things will get screwy (for lack of a better word).


I hope there isn't one, but I'm afraid there will be a Recession and Obama will take a higher lead than he does now.

I hope he does.

The good news is McCain's poll numbers appear to be sinking with the stocks. People now see that the last 8 years in general has been a failure in most ways and it's time to shake things up in Washington. The Bush-McCain philosophy isn't working. John wants a bailout then he wants to give big tax breaks to oil companies as well, not gonna happen John. I think there needs to be some kind of intervention but it has to protect the interests of the American taxpayer, this bill apparently did not do that enough. A $700 billion blank check to Wall St. is a bad idea. Now Republicans and Democrats are playing the typical political blame game.  ::) Back to the drawing board.

^Nicely said, Brian. karma+1

I wonder if we would have had this kind of situation if Gore or Kerry had been elected?? Probably not...

I bet we still would have these issues, although I am not sure to what degree.  Remember, a big part of this was companies loaning money for homes for people who clearly could not afford it.   

I bet we still would have these issues, although I am not sure to what degree.  Remember, a big part of this was companies loaning money for homes for people who clearly could not afford it.   


It wasn't quite that simple.  Remember Bush's "ownership society"?  Many people got sucked into adjustable mortgages hoping that either 1 the rates wouldn't go up very much or 2 home values would continue to go up.  The other big part of it was that these sub prime notes got bundles and were used to back securities.  So the big problem came from Wall St. manipulating these notes.

Still, Bush is a Lame Duck and his Goose is cooked. (It has been throughout this year.)

We haven't had a 2-term Lame Duck since Grant (And he was only in because of his General status in the Civil War!)

It wasn't quite that simple.  Remember Bush's "ownership society"?  Many people got sucked into adjustable mortgages hoping that either 1 the rates wouldn't go up very much or 2 home values would continue to go up.  The other big part of it was that these sub prime notes got bundles and were used to back securities.  So the big problem came from Wall St. manipulating these notes.


I know, you just know how to word it much better than I do. :)  I was basically saying that we would still be having trouble if Gore or Kerry had been President.  Wall street is Wall Street and there will always be greed there no matter who is president.

There would still probably be trouble, but probably not nearly as much.  There's no way of knowing if a Gore or Kerry government would have spent the effort this administration spent on trying to be the world police on keeping wall street and irresponsible lending/borrowing under control.

There would still probably be trouble, but probably not nearly as much.  There's no way of knowing if a Gore or Kerry government would have spent the effort this administration spent on trying to be the world police on keeping wall street and irresponsible lending/borrowing under control.


True enough, you can never prove a counter factual thesis.  What we do know is that it has been repugs who have pressed for deregulation for years, and it was they who deregulated everything from the stock market to banking to energy (remember Enron?).  So I think it is safe to say that had the deregulation not been forced down our collective throats things would have been different.

True enough, you can never prove a counter factual thesis.  What we do know is that it has been repugs who have pressed for deregulation for years, and it was they who deregulated everything from the stock market to banking to energy (remember Enron?).  So I think it is safe to say that had the deregulation not been forced down our collective throats things would have been different.


I sometimes wonder how things would be if Gore or Kerry would have won.

Well, if Gore won then Bush would go back to Texas and get the Governor's Seat back, probably run for Senate.

If Kerry would have won, Bush would team-up with Kerry a lot, and I mean a lot.