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Stocks plummet based on report of consumer weakness

by on Oct. 30, 2009, under Politics

The President and Secretary of the Treasury said yesterday, “technically, the recession is over…”

The stock market fell off the edge today losing nearly 250 points, yet the Feds wonder why we don’t believe a word they utter.

They conveniently cite Wall Street as a benchmark when the market is up and downplay it when it falls into an abyss.


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Is War Dead In America?

This entry was posted on Friday, October 30th, 2009 at 3:57 pm and is filed under Politics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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  • leftfield

    On a day to day basis the stock market behaves as an overly emotional teenaged drama queen.  Yesterday the market was up 200 points, today down 250. 

    The recession is “technically over” because the technical definition has to do with the GDP trends and the GDP is up 3.5% last quarter.  As always, the working people are the first to suffer and the last to find relief with boom and bust cycles of capitalism. 

    Listen, you guys had your chance and you blew it. 

    • mорское

      you are right lefty …….. they had their chance. there is a whole new team of players forming on the side lines about to enter the game.
       
      it should be very interesting.

      • leftfield

        There’s definitely something brewing out there on the right, Moscow.  Currently, though, it seems to be causing more division than solidarity amongst the ranks.  As you say, “time will tell”.  Myself, I currently don’t see the fundamentals necessary for more than the occasional tea party.  Most of the people who feel disaffected at this point still have a lot more to lose than they have to gain by openly defying the government.  As far as the ballot box goes, you haven’t got the liberals, nor the mainstream Republicans; all you really have is a fraction of those who would identify as independents or “values voters” or libertarians.  You are a vocal group and a group with probably more potential to organize in an effective way than most on the left, but still a small group for now.   

        • compoundcaptive

          At least many more people than typical are paying attention to what the Feds are doing, and that’s good for everyone…

    • mорское

      tippy, a purging is on the way. hold tight.

      you may or may not enjoy it but it will most definitely be one hell of a ride.

      • tiponeill

        Nope moppy – you are just delusional. This happens to fevered “conservatives” who talk amongst themselves and convince themselves that they are the majority.
        Every once in a while a Tim McVeigh goes off the deep end, which is why Homeland Security thinks you are worth watching, but mostly cranks are best ignored.
         

        • mорское

          and then we have liberals that talk a good fight but never seem to have the vinegar to quite finish.

          i am more than likely on several watch lists. i pray to God i am because i would not want my efforts to be for naught.

          you better look around you and start reading something other than the liberal digest. if you can’t see a people getting ready for a fight then perhaps delusion runs in your family.

          “but mostly cranks are best ignored” and liberal slop jars need to be cleaned out.

          time will tell. time will tell.

          • compoundcaptive

            I’m confident that most of us are on some sort of government watch list.
            But if you don’t believe you’re under scrutiny and are feeling left out, then simply drive past the nearest photo radar camera…

    • mорское

      the economic impact is not over nor will it be for a while, if ever.

      the dollar is being devalued with a purpose and those tangling by a threat are on the increase.

      chaos is imminent. but do not worry, obama the messiah will heal the nation. lmao, lmao,lmao, lmao,

      • ado1

        The term “imminent” is subjective and is a bit dependent on a person’s sense of time or their time frames, but I do believe as a nation we are in a downward economic spiral. It may well be time to lock and load and sit back and wait for the starving hoards who will eventually come streaming out of the cities, hungry, broke, and looking for yet another handout from the working folks, or barring that, taking what they are able to take by force.

        I will not be surprised to see locals forming small militia groups to protect their economy and common geography from the results of what the Kenyan-in-Chief has been ramming down every citizen’s throat.

        • compoundcaptive

          It does appear imminent that people at all economic levels and geographic locations across the country are preparing for the ultimate onslaught of eminent domain. In other words, if you’ve worked hard and accumulated something you’re supposed to give away part of it to those who’ve either blown what they had or never attained what they believed they deserved. Hmm, something about history repeating itself…

  • ldonyo

    Nice try at spin, but the technical definition of recession is not something any administration has any control over.

  • tiponeill

    “They conveniently cite Wall Street as a benchmark when the market is up and downplay it when it falls into an abyss.”
    And the conservatives conveniently cite Wall Street as a benchmark of the administration when the market is down and downplay it when the market is up.
    Incredibly astute observation, though

  • ado1

    I will offer this quote from William Boetcker:

    “You cannot help small men by tearing down big men.

    You cannot strengthen the weak by weakening the strong.

    You cannot lift the wage-earner by pulling down the wage-payer.

    You cannot help the poor man by destroying the rich.

    You cannot keep out of trouble by spending more than your income.

    You cannot further the brotherhood of man by inciting class hatred.

    You cannot establish security on borrowed money.

    You cannot build character and courage by taking away men’s initiative and independence.

    You cannot help men permanently by doing for them what they could and should do for themselves.”

    • leftfield

      I have quotes too, Ado.”The crippling of individuals I consider the worst evil of capitalism. Our whole educational system suffers from this evil. An exaggerated competitive attitude is inculcated into the student, who is trained to worship acquisitive success as a preparation for his future career.” – Albert Einstein“War is just a racket. A racket is best described, I believe,as something that is not what it seems to the majority of people.Only a small inside group knows what it is about. It is conductedfor the benefit of the very few at the expense of the masses.”
       
      Major General Smedley Darlington Butler 

      My quotes are better than yours!  Nanner, nanner, boo-boo! 

      • compoundcaptive

        In effect, you have no counter point. The few have always supported the masses…

        • leftfield

          You may have to look at little closer to see the point.  Nonetheless, based on your statement above (“The few have always supported the masses…”) one point should be clear to both of us.  That is, that you and I will not see eye to eye on much.  For it is my opinion that the masses support the few; just like ticks on a dog, the ruling class sucks the blood of the people and gets fat.

      • ado1

        Thanks Lefty, I have always found quotes by Einstein, the creator of nuclear warfare, to be quite amusing, when in retrospect he finds his invention odious and very capable of mass murder. Einstein is almost as humorous as Alfred Nobel, the creator of modern explosives, instituting a “Peace Prize”, and then see that meaningless award given to a president who has done less than zero for peace anywhere, when in fact this same presidential recipient of the Nobel Peace Prize is, even as we write, debating the political fallout from giving his generals even more troops so they can more effectively conduct a war.

        You guys are a real hoot Lefty. Keep up the hypocrisy and the hyperbole. You’re always something to look forward to on a slow news day…

        • leftfield

          I have no doubt in my mind that you are aware that Einstein’s contribution was recognizing the relationship between matter and energy.  It was others who put the theory to work in developing nuclear energy and atomic weapons. 

          Nonetheless, this is not my point.  I like quotes too; I use them from time to time.  Still, just because something is well-said; succinct and even witty, does not make it fact.

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