Global Economy Bursting?

[Randolph Kinney]

Dow industrials below 11,000 for first time in 2011

http://blogs.marketwatch.com/thetell/2011/08/08/dow-briefly-dips-below-11000/?siteid=bnbh

U.S. stocks lost more ground as President Barack Obama addressed the downgrade to the nation’s credit rating.

 

[Austin]

It's the Tea Party's fault.

 

[Workbox]

It's the Tea Party's fault.

Sure it is. Poor guys, I wonder if this was done on purpose to get them out of the elections? Then again, I could be wrong.

What an ugly downturn, but I smell a Rally this week either tomorrow or Wednesday. :new_smile-l:

 

[Workbox]

Dow industrials below 11,000 for first time in 2011

http://blogs.marketwatch.com/thetell/2011/08/08/dow-briefly-dips-below-11000/?siteid=bnbh

U.S. stocks lost more ground as President Barack Obama addressed the downgrade to the nation’s credit rating.

So that's what happend while I was checking the 15 minute chart. I think that is very telling of how folks feel about him right about now. Ouch.

 

[Randolph Kinney]

The next credit downgrade coming and to hit the fan

Credit default swaps tell the reality from an investor's point of view.

Europe is in deep deep trouble and this will ripple into our markets.

 

[Randolph Kinney]

Dow's 635-point loss is worst drop since December 2008

U.S. stocks closed with broad, deep losses Monday after a Standard & Poor's cut of the U.S. credit rating to double-A sparked a flight to safe-haven investments such as gold.

The DOW lost 634.76 points, or 5.6%, to 10,809.85.

The S&P 500 shed 79.92 points, or 6.7%, to 1,119.46.

The Nasdaq Composite dropped 174.72 points, or 6.9%, to 2,357.69.

 

[Randolph Kinney]

Oil tanks, closing below $84 after S&P downgrade

Oil futures fall sharply as the downgrade of the U.S. credit rating by Standard & Poor's heightens fear of lower demand for crude and other commodities.

 

[Randolph Kinney]

If Your Economic Forecasts are Wrong All the Time, Aren't You Just Guessing?

Zandi and Yun have this in common.

 

[Randolph Kinney]

McConnell Calls For "Significant Entitlement Reforms" After S&P Downgrade

Read more: http://www.businessinsider.com/mcco...forms-after-sp-downgrade-2011-8#ixzz1UTagAAWb

 

[Randolph Kinney]

Senate Banking Committee Weighing Probe Of S&P Downgrade

Read more: http://www.businessinsider.com/mcco...forms-after-sp-downgrade-2011-8#ixzz1UTagAAWb