Another down day: Dow closes below 10,000

[OmahaBlueDog]

Source: AP (Via MSNBC)

NEW YORK — Stock indexes ended lower Thursday as a drop in new claims for unemployment benefits wasn't enough to resolve worries about the economy.

The Dow Jones industrial average fell 59 points in afternoon trading, hovering just around the 10,000 level, after getting an early 45-point lift from the weekly unemployment report. Broader indexes also dipped.

The early boost from the positive jobless claims report turned out to be fleeting as investors returned their focus to nagging problems in the economy.

The market's attention is already turning to a speech early Friday by Ben Bernanke to see if the Federal Reserve chairman sheds any light on the conundrum that stock investors are currently wrestling with: How weak is the U.S. economy and will it slide back into recession?


Read more: http://www.msnbc.msn.com/id/38862352/ns/business-eye_on_the_economy/

[DJ13]

1. There will be no real rush to fix the economy until the rich are hurting as well

Propping them up has only made things worse for the other 99% of us.

[opihimoimoi]

2. Bush tax cuts really fucked this Nation/Planet...big time...fuck them GOPers

[Warpy]

4. Reagan did the real damage

and Clinton refused to repair it. Stupid just added to it.

[opihimoimoi]

18. yup.....Stupid was the "straw"

[Warpy]

3. No shit, and they will be hurting

since they're also living on other people's money unless they're very old money.

Earnings are going to be down as this mess plays out right along with prices. In addition, even if someone has money, there are going to be few places to spend it unless they like going to yard sales. We're going to be trading all our crap around for the foreseeable future.

When their lifestyles are no longer supported, they'll realize something has to be done. By then, Congress will also be aware of the angry mobs out there demanding something be done. They know what to do, it's been done before when conservatives have wrecked the economy to fatten the rich. They just lack the will to do it now.

Pressure from both ends of the economic spectrum will get them to act. Until them, forget it.

[harun]

5. The true enemy is corruption and as long as the corruptors are also the regulator's

, things will not change.

[closeupready]

6. That's the heart of the problem.

Until we stop near-bribery euphemistically referred to as "Campaign Finance Donations", which is illegal in most places, it will continue.

[onehandle]

7. Pretty soon, stock brokers, bankers, and other fake money fetishists will have to get real jobs. nt

[harun]

8. I think they would kill us and use us for food before they would allow that to happen.

[corpseratemedia]

11. "Deficit Commission"

robbing Social Security from us

[harun]

15. Exactamundo.

[Romulox]

9. It's a Depressortunity! nt

[dipsydoodle]

10. There was a note somewhere yesterday

in one of the financials which reckoned give it a few years and it will be down below 5000.

[savalez]

12. Ah, the never-ending horse race.

[ixion]

13. The DOW is still way over-inflated

so down is closer to real-market value, hence a good thing.

[harun]

16. I actually feel the same way. I think 8700 is a realistic price point and would

be a buyer at that price.

[ozone_man]

17. 10,000 looked like a good buy when it was 14,000.

I think before too long, we will look at 8700 in the same way, when the DOW is around 6,000. It is likely to be years until a bottom is reached, but market economists will claim that it has been reached many times before it actually is, like the economists who said we were in a "V" shaped recovery.

[ixion]

19. yep... 5500-6000 is the range, in my opinion

but it's hard to tell exactly where we're going to land.

[lib2DaBone]

14. As long as they can keep the Muslim Hatred simmering..no one will notice the economy..

If the Sheeple ARE smart enough to figure out the economy... we will just have another false-flag attack.