Wall Street plunges, Dow falls 400 AP - 2 minutes ago

Wall Street plunges, Dow falls 400
AP - 2 minutes ago

NEW YORK - Wall Street suffered its second-biggest plunge of the year Thursday, leading global markets lower as investors fled stocks amid increasing uneasiness about the mortgage and corporate lending markets. The Dow Jones industrials fell more than 400 points, while Treasury yields plunged as investors moved money into bonds.

And now, Mr. President, about that impeachment.....

I see 368 and some heavy breaking going on now is that official yet

NasDaq doesn't look that bad only -70

eom

:scared:

Bear Stearns owned up to 1.5 billion in hedge funds being now worthless last week- hedge funds based on the subprime loan market.
And the market isn't even doing that well, even though it hit 14,000 last week.
That 14,000, after adjustment for inflation, only just equaled 2000's all time high.
Fun times ahead folks.

What else can be said?

It's still over 13,000.

Seriously. This is less that 3 percent of the opening value today. Whoopee. Peanuts. If you owned a dow tracking stock, you just lost the money it took you all of last week to earn. Everyone chill out already. It is one day, and one day, with a small drop, ain't a big deal.

322 now

But I don't see how we can turn things around without recovering some of the $10 trillion that the Bushites, the super-rich, the war profiteers, and the gas gougers, loan sharks and other corporate predators have stolen from us. And I don't think Hillary is the one to do that. That's one of the bigger probs I have with Diebold's intentions next year. She ain't no FDR. And we need an FDR to get us out of this mess. Even Pelosi backs "fiscal responsibility" (gad, what a joke!) and the "Blue Dog" Democrats, who want to cut everything in the budget except war spending. Quite the opposite is needed--as will soon be evident. Slashes of the military budget, reparations from the thieves, return to a progressive tax, strict government regulation, and BIG government spending--to stimulate a looted economy, for jobs, for creative anti-global warming businesses, for bread lines...

Anyone who has even peripherally been watching Bushite...ahem..."regulation" knows that our financial institutions and corporate monopolies are extremely corrupt--the way business became corrupt in the 1920s. The rich elites are ripping off all the profit and investing it ELSEWHERE. They have been cushioned somewhat by off-shoring all the jobs to the cheapest labor markets they can find (something they couldn't do in the 1920s), and by rampant, unregulated resource exploitation, here and abroad. The gifts of NAFTA! And many have likely stored their billions in safe havens (not in dollars!)--or what they THINK are safe havens. Ain't that sweet! Halliburton re--locating to Dubai! Wads of NeoCon cash, in the billions, stashed with the sheiks of Araby, or the Cayman Islands, or wherever. OUR corporations--corporations for whom WE, the U.S. taxpayers, provided the best infrastructure, the most educated and productive work force, the cushiest government subsidies--investing in Chinese sweatshops! Their treason never ends! But I don't think any will escape the Crash that the Bush Junta has set up.

We thought we had settled this matter in the 1930s and 1940s, and created a government that would not let this happen again. And the Bushites, in seven years, have undone it all. Well, the looting of the American middle class, and of our "commons," actually started with Reagan--with the Bush Junta inflicting the final blows. A decade ago, we might have taken corrective measures, if we had had a president who wasn't a bought-and-paid-for Corporatist. But that opportunity was lost. (I remember when Time magazine picked Bill Clinton and put him on the cover--before the primaries. I knew little about NAFTA at the time, and the Telecommunications Act was just a twinkle in Grover Norquist's eye. But it stuck with me. He was not a front-runner. They picked him. They nominated him. The wealthy class/political establishment sold him to us. I also remember him promising to include labor and environmental protections in NAFTA--a promise he quickly broke, once in office! Ah, me....) But, anyway, we need VISION, we need LEFTIST STRENGTH, we need leaders who identify with the people, not with the predators. We need STRONG MEASURES taken, to get us out of this hole. And the only leaders who are even saying the right things (and who knows if they are sincere?) are John Edwards and Dennis Kucinich, whom the pundits say are "behind," or "don't have a chance," and someone who says he's not running (Gore). The rest are part and parcel of the Corporate Rulership (Hillary), or wannabes (Obama), or...who knows what they are doing in "the race"--Christopher Dodd (no visible constituency, but Diebold owes him a favor), and Bill Richardson (also with not much of a constituency, but he held the line against recounting Bush/Cheney's faux votes in New Mexico in 2004, and perhaps expects some reward).

Knights-in-shining-armor. We'd best see to our democracy and our welfare ourselves. Place to start: Restore transparent vote counting NOW! Down at your local registrar's office or state elections office. Not in that rat-hole, DC.

...so now every American who lives north of NYC is starting to panic.

Just watch tomorrow and fall, a breaking on the market and then magic fairies.