blank'/> Liberally Lean From The Land Of Dairy Queen: It's The End Of The World

9.29.2008

It's The End Of The World

Or, if you happen to catch some of CNN this afternoon, that's what they would tell you. Man, they kept screaming "this is the biggest point drop in history!!!" Uh, that percentage thing might be a little important. I think we'll survive. But I did learn something, and I probably should have known this, the "big board" with the DOW number on it at the stock exchange actually changes after the closing bell. When I heard the "ding a ling ding a ling" the market was down "only" by 594 points. But it continued to drop for the next nine minutes. Edit: Make that 14 minutes. I even had to update the graphic, above. In other news. oil dropped $10 a barrel to day to $96.63

24 comments:

Jarhead said...

That was the biggest point drop I've seen since I've been watching the markets.

Glad I'm not retiring for 25 more years.

The information-induced mass hysteria is hilarious. Watching those freaks on TV is like watching the Keystone Kops. You'd think the Apocalypse was upon us.

I'm sure the meddling government [congress] will vote again and again until the bailout package finally passes and we'll continue to delay the inevitable by artificially supporting the markets.

If your leg was broken, would you keep it in a cast forever or would you take the cast off and, even though the limb was weak, work to make it stronger?

As long as the Invisible Hand is kept tied behind our backs by the Bush administration and Congress, we'll need to steel ourselves for more and more days like today.

That is all.

Carry on.

Anonymous said...

We will survive but a little lighter in the portfolio. This is a case where "the media" is not oversteping. It is serious. The financial system is based on confidence and right now it is razor thin. The short end of the Treasury yield curve dropped to 1/3 of 1%. People were seeking a flight to quality not in hopes of a return on their money but in hopes there money would be returned. (that says something)

Congress had better stop trying to scapegoat and do something.

mzchief said...

When the market dropped in 1986 it dropped by more than 25% compared to today's drop of nearly 7%.

Anonymous said...

The reason the price changes after the bell is because all transactions, including index updates, are subject to a 15 minute delay before they hit the ticker. There are several reasons for this. One of several reasons is to correct trades made in error.

Let's say a trade is entered at 1,000,000 shares of ABC, and it should have been 100,000 shares of ABC. Before the market can overreact to a trade of a million shares, the proper transaction can be entered and correct information reported.

It also cuts down on the number of f-bombs and s-bombs.

Double Fake Edward Jones

Anonymous said...

Here's somethin I was thinkin about.

What if we all looked exactly alike,names wouldn't be any good so instead of saying hello Bill,Mary etc., would we have to ask what your number is or somethin?

Anonymous said...

Thank you Mr. Bush. After the Iraq vote a few years ago, I am not sure Congress will ever again believe a president's warning of dire future.

That vote doomed Hillary. That vote haunts McCain. All set up by lies and cherry-picked intel.

Failure to come together now when we need to, is a by-product of burned trust. Thank you W.

Anonymous said...

4:22

I've had the same thought.

Double Fake Nikki Sixx

Anonymous said...

4:45 says,"Thank you Mr. Bush. After the Iraq vote a few years ago, I am not sure Congress will ever again believe a president's warning of dire future.

That vote doomed Hillary. That vote haunts McCain. All set up by lies and cherry-picked intel.

Failure to come together now when we need to, is a by-product of burned trust. Thank you W."

Where are you writing from, cukoodelphia?

Anonymous said...

All those politicians that were saying in Congress in 2004 that there wasn't anything wrong with Fannie Mae and Freddie Mac and they didn't need any more oversight happened to all be Democrats and all just so happened to be getting stinking filthy rich out of the deal and were getting tons of votes because "their people" back home who shouldn't have been able to get a "tote the note" car loan much
less a home loan, were getting all the house they wanted and way more than they could afford.

What's that all about?

Anonymous said...

I like this. I hope everyone is aware that this was an action of representatives of the American people. Both Democrats and Republicans, who listened to the people who put them in office, defeted this bill. So Wall Street took a dive.

Anonymous said...

Just think of this as a buying opportunity.

Anonymous said...

I'm still glad I have a fall garden....that is all.

Anonymous said...

337 you seem to think that today's loss wasn't too bad compared to 1987. how about the cummulated losses from the high of 14500..looks like about 40%...

Anonymous said...

sit down hold on and finish your beer, keep your hands in so your knuckles dont drag the ground like when you walk!I heard a rumor today that certian currencies are going to seperate from us like the euro.- dont equal+.this is about as bad as when the meteorite hit the earth!But we managed to survive as a species.

congress and the bailouts are burning up the cash on the dancefloor tonight at the sabortooth !

e puribus enima

caveman

Anonymous said...

Me loves me some cummulated.......

Anonymous said...

Jar, perhaps you can explain why YOUR President is FOR this bailout.

George W. Bush is hopeful. This is the best thing he has done in his administration.

Many Republicans in Congress WANT THEIR JOBS BACK at their big salaries, so they can pay their bills, live the high life, etc.

Roy Blunt even went along with this and he is a Republican. Does that stick in your throat just a bit?

I appreciate the Republicans in Washington who are trying to help keep our economy going.

Anonymous said...

BREAKING NEWS..SWAT TEAM MEMBER DOWN..PR 3512..MTF..

Anonymous said...

ambulance and medics enroute to swat team location..

Jarhead said...

7:04:

I can’t answer that. The guy loves huge government more than any Democrat who has ever held the office. I just can't explain it.

I'm sure there are Dems who want their jobs back as well ~ this is a bi-partisan cluster fu$#, started by Bush.

I'm keeping tabs on the Righties who are lobbying for this bailout and putting them on my political blacklist.

That'll show 'em.

This is classic Leftist government meddling initiated by the Right and perpetuated by both sides. All of these guys are acting like they're doing all this for us, but you know they're just looking out for their own interests.

I think it speaks volumes about the Lefties that they couldn't gather enough votes to pass a measure that would actually make government bigger ~ their cause celebre. I guess that's why their approval rating is lower than Bush's. How embarrassing for you.

Anonymous said...

Where is WordKyle?????????
Where is his "RAH-RAH-RAH"...for the Repubs?????????
C'mon WordKyle...let's hear it about the "Democratic Controlled Congress".
Today's voting results....
In all, 65 Republicans joined 140 Democrats in voting "yes," while 133 Republicans and 95 Democrats voted "no."

Anonymous said...

I vote to sit back and watch the fat dog eat. Allow our economy to make its own ajustments as designed to do. The banks sat back, with thier pants around the ankles, bent folks over. The same folks whose income is x and mortgage xyz with a little 123 added in, deserve the stump'n. The banks also. Those of us who have done as we agreed, pay ourselves first-our mortgages ontime-car payments and misc., will be fine. Yes we may be a bit leaner and possibly stronger but I bet just fine. This Nation - We need to take note. Our Reps are OURS not the banks,airlines,oil,automakers. No one nothing but OUR will. As PRES.Jefferson said "A PATRIOT MUST BE WILLING TO PROTECT HIS COUNTRY FROM HIS GOVERNMENT" now thats change. LandShark 5150

wordkyle said...

1004 - Congratulations to the Democrats who joined Republicans to do the right thing. Your post is oddly smug and hostile. Am I supposed to feel bad about something?

Silly me. I assumed Pelosi & co had the ability to keep her party members in line. Apparently her motivational speech during voting didn't help her cause. (Is it weird that the Democrat-controlled Congress has done so little in two years, yet they can introduce, debate and vote on legislation to socialize a huge part of the financial industry in just four days?)

Any rah-rah for the Republicans was because they tried to head off this crisis a few years ago.

Let's get this straight: Politicians of any stripe are of suspect character, by definition. I don't think any Republicans are perfect, and very few of them are acceptable. They simply are a better choice than Democrats.

On the other hand, I don't think all Democrats are repugnant lowlifes. However, the Democrat leaders are, and they set the Democrat party platform and agenda. You can bet your life that we haven't seen the last of this legislation. (Maybe after the elections.)

I do hate the Liberal Democrat tactic of trying to silence those who disagree with them -- as Obama is doing in Missouri.

Nice use of question marks, by the way.

Anonymous said...

Well Jar, Kay Granger will now be on your black list.

She voted for the bailout and had the courage to say it was a difficult decision.

And it was.

Anonymous said...

Hey Jar - the way to put all these jerks on our blacklist - Dems and Repubs is simply NOT TO VOTE.

It'll never happen. We will vote them back in again and again and again.

Sensible?