Primitive NYSE economics

[Crazy Horse]

Boys and girls gather round the campfire for a look into the truly unknowing lessons of the economy from the primitives. (Dixiebell could you put a bless their hearts in here.......it just doesn't sound right coming from me)

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2820892

Klukie  (908 posts)       Tue Feb-05-08 01:52 PM
Original message
Dow down over 300
 I really don't understand the markets too well but I don't think this yo-yo thing going on is a good omen.

http://www.cnbc.com/

 

papau (1000+ posts)       Tue Feb-05-08 01:56 PM
Response to Original message
1. CNBC said Obama would be good for the DOW

Warpy  (1000+ posts)       Tue Feb-05-08 01:56 PM
Response to Original message
2. The market wants to correct
 but keeps getting propped up by rate cuts and funny money. The truth is that the market has been overvalued for the last 10+ years and 100% of the economic plan the GOP has is to prop it up artificially since the GOP still thinks the Depression was caused by a stock market crash.

It wasn't, of course, it was caused by the same maldistribution of wealth we have now that caused the bottom 80% of the population to be drowning in debt, but you'll never convince a Reaganomics ideologue of that.

That's what's causing it to yo-yo.

I predicted that by the time Stupid left office, it would be down around 7000 again. I hope I wasn't being optimistic.

Klukie  (908 posts)       Tue Feb-05-08 02:02 PM
Response to Reply #2
4. Hey thanks...
 Edited on Tue Feb-05-08 02:08 PM by Klukie
It may be a stupid question, but what exactly would happen if the Fed allowed the market to correct itself?

dchill (1000+ posts)      Tue Feb-05-08 02:11 PM
Response to Reply #2
9. Ding ding ding.
 Kewpie for you.

 

kirby  (634 posts)     Tue Feb-05-08 01:57 PM
Response to Original message
3. Lots of money being made off of this...
 Todays bad news was the
'Institute for Supply Management's non-manufacturing index'. We are now a service economy (90% of our economy) and the index fell unexpectedly indicating a contraction in the economy. The number dropped to 41.9, from 54.4!!! 53 was the expectation by analysts/economists.

All this volatility of the market allows for huge money to be made on these swings. Personally, I think the market is trying to fight an inevitable drop below 10000.

shaniqua6392  (1000+ posts)      Tue Feb-05-08 02:04 PM
Response to Reply #3
6. Thanks for that explanation.
 That does make sense. The market seems to be bouncing around lately. I don't know much about it, but I have been trying to learn. I have learned that we are close to a recession in most states, and states like mine (Michigan) are already in one.

Klukie  (908 posts)       Tue Feb-05-08 02:05 PM
Response to Reply #3
7. 90% of our economy is service jobs?
 Is that what service economy means? If so ...Holy Shit!

question everything  (1000+ posts)       Tue Feb-05-08 02:04 PM
Response to Original message
5. Chickens come home to roost 
 For years, many warned about having an economy 2/3 based on service. This means shopping for items whether we need them or not. This is why in 2001 we got some money and they plan to do so now, so that we go out to shop. (If we choose to pay down debt, or put in saving we are un-Americans, of course).

And this is what is happening. People finally are getting smarter, or are pressed, and they do not go shopping and, I suppose, the winter storms did not help much.

But it is too late. We sent all our manufacturing overseas.

Here is what needs to be done: DON'T GIVE US MONEY, PROVIDE JOBS.

Invest in infrastructure that is desperately needed and that can provide jobs at all skill levels that cannot be outsourced. Instead, Bush's 2009 budget heavily slashed the funding for the Transportation Dept.

Desertrose  (1000+ posts)       Tue Feb-05-08 02:09 PM
Response to Reply #5
8. Just what Kucinich said about 4 years ago.... n/t

 

mrbluto (195 posts)       Tue Feb-05-08 02:16 PM
Response to Original message
10. You know what's scarey?   
 I saw the title of your post out of the corner of my eye and mis-read it.

What did I think it said for a minute?

DOW over 300
Startling, but somehow believable for a moment considering the disasters this administration has visited upon us.

Oh yeah that's scarey.....................asshat

[jukin]

Why do the DUmpmonkeys keep hoping for economic disaster when they will be the first and the worst hit by a downturn?

[Chris_]

Why do the DUmpmonkeys keep hoping for economic disaster when they will be the first and the worst hit by a downturn?

Because they they get more joy from the misfortune of The Man (us who work) than the pain of themselves.  Sort of like what Golda Maier said about the Palistinieans.

[Texacon]

Why do the DUmpmonkeys keep hoping for economic disaster when they will be the first and the worst hit by a downturn?

They won't be hurt.  They will all follow their leader WileEcoyote and live in their vans down by the river.

KC

[jtyangel]

I love how when talking about the Great Depression they focus in on a big socialist talking point--unequal wealth distribution and forget all the other very big things that helped shape the years during the depression ie tariff wars with other countries, surplus, deflation,etc. All of which are economic terms that I don't expect them to understand. After all a surplus is good right? Being protective of American labor via high tariffs is always good too right? It's funny but a lot of the shit they'd like to see to counteract economic globalism are some of the policies that helped feed the Great Depression to a decade long ordeal.