The DOW is close to breaking below 10,000 (54 pts away as I write)

[Gloria]

If it goes below 10,000 that would have a significant psychological effect on many voters, don't you think???

Just saw a bit on CNN about Arizona...many mad Repugs about the lack of border security...but.....the report quoted someone who saw an "improving" economy....

The most STARK evidence of Bush's poor economic performance will be a drop below 10,000 at this point...and my Edward Jones' newsletter this months shows 0.48% per year DJIA return thru 12/31/03 (DOW was at 10,952 on Election Day 2000)..

Clinton's return until next President elected was 18.83%; DJIA % Total Return per year thru 12/31/03 13.34 (Dow was at 3252 when Clinton was elected)

[endnote]

1. I want it UNDER 10000 by the end of tomorrow!

[tedoll78]

6. BINGO.

I want Kerry to be able to go into that debate and say, "Ladies and gentlemen, the Dow is curently under 10000; it was over 11000 four years ago. Oil is now $54 per barrel; it was half that price four years ago. These are the results of Bush's failed economic policies."

[Peak_Oil]

10. That's not Bush's fault though.

Seriously, even if Clinton were allowed a third term, I doubt very much would be different today. The President doesn't get to wave a magic wand and make all the bad stuff go away. The economy was totally overheated, money was flowing, and it dried up.

Bush isn't looking out for the Little People, and Kerry should do a little bit better at it. But... he's not going to magically create jobs. What's he going to do, just pull open his behind and yank a couple million jobs out of it?

Guys, this was in the cards for us for a looooong time. The world is a different place than it was 30 years ago when the world was still our oyster.

We need to make fundamental changes to the way we live our lives.

[Jack from Charlotte]

12. It's all about confidence......

As someone who's worked on Wall Street..... and this moron instills, none. So to that extent he is responsible. Every other pres since Hoover had gains. And even moreso today than ever, our retirements are tied to the market. Last 3 3/4 years.....= below ZERO.

[Roland99]

13. Uhh...

why?

You want people to lose money?

[Goldmund]

2. It already did drop below 10K

a few times in the last several months.

[Gloria]

5. Yes, but I'm hoping that so close the election, Kerry can make some

hay with it!!!

It's about 37 pts away now...

[Jack from Charlotte]

11. Here's a chart; Presidents & Stock Mkts going back to Truman

Wish I knew how to format it correctly.... Bottom line is the last 2 numbers... annualized rate of return and rank.

Awol/moron is of course last.... so far.

I don't have today's S&P so it's not updated..... but Bush is the 1st Pres since Hoover to have a NET loss in S&P while in office. Stock market is all about CONFIDENCE......

Bush started on Jan 2001 at 1,342.54. Today, 7/23/2004, 3 1/2 years later, The S&P 500 is at 1,045.00. Thats a LOSS of 22.1 %.


Presidents And The Stock Market
President Term Economic Rank S&P 500 Start Of Term S&P 500 End Of Term S&P 500 Annualized Total Return (%) Stock Market Rank
Bill Clinton 1993-2001 1 433.37 1,342.54 17.4% 1
Gerald R. Ford August 1974-1977 5 86.02 102.97 17 2
Harry S. Truman April 1945-1953 7 13.64 26.57 15.6 3
Dwight D. Eisenhower 1953-1961 9 26.57 58.11 14.9 4
Ronald Reagan 1981-1989 4 131.65 286.63 14.4 5
George H. W. Bush 1989-1993 10 286.63 433.37 14.4 5
John F. Kennedy 1961- November1963 3 58.11 74.01 12.4 7
Jimmy Carter 1977-1981 6 102.97 131.65 11.2 8
Lyndon B. Johnson November 1963-1969 2 74.01 103.86 10.2 9
Richard M. Nixon 1969-August 1974 8 103.86 86.02 0.6 10
Source: Forbes statistics

[edbermac]

3. I hope it goes down the toilet tomorrow...

Just so we can see Smirk saying how great the economy is doing with a straight face...

[Worst Username Ever]

4. 43 now n/t

[madrchsod]

7. dam i haven`t followed it

for awhile and that is not very good news for anyone. i hope kerry brings up the fact that the euro started at 83 cents when bush started and now it`s at 1.33..our money isn`t worth anything. also the amount of our money that china has to buy saudi oil..yup, walmart shoppers..you`re buying the chinese their oil

[Charles19]

8. That should be brought up

It is also why gas prices are so high, being the dollar is worth so much less now makes gas that much more expensive for us in the U.S. compared to how much it costs the rest of the world.

[StickNCA]

14. Now that you did bring it up.......

It is also why gas prices are so high, being the dollar is worth so much less now makes gas that much more expensive for us in the U.S. compared to how much it costs the rest of the world.

That sounds really good.

Too bad it's nowhere near correct.
http://www.eia.doe.gov/emeu/international/prices.html#Motor

Global prices for gasoline are rising everywhere, but the graph illustrates the percentage in price increases is greater in the EU.

[Charles19]

18. If value of dollar in relation to foreign currency has decreased

then how can it not be value wise cheaper now for foreigners?

Oil world wide is based on U.S. dollars, the Euro is now worth much more per dollar than before so it would buy more gas, thus making it cheaper related to what the U.S. pays, which is in dollars.

Foreign gas may cost more but their money is worth much more dollars than it was before, hence we are paying more.

All those charts are in dollars none of them take into account the changes in foreign currency worth that have occurred.

[The Backlash Cometh]

9. What is it they called it in Vietnam?

When you bunkered down and allowed your own air support to bomb the area above you in the hopes that it would destroy the enemy troops that were swarming your camp?

That's how I feel when I hear the stock market is down. It scares me, but I know that things will get worse, before they get better.

[Nicholas_J]

15. Might, but it is a well known fact that democrats are better

for the stock market.

In the last few months there have been a number of articles pointing out that since the Great Depression, democrats have always presided over bull markets and expansion of the sock market, whil Republicans always preside over bear markets and rather tepid expansion of the market.
Example, over the 12 years of Reagan and Bush I, the stock market rose from about 2000 to a high around 3000. Under the 8 years of Bill Clinton, the market went from 3000 to over 11,000.

Bush is fitting the typical bear market battern of a rather tepid market, going up and down around a central figure, in this case, something around 10,200. THe market is fluctuating a few percent aroiund that mumber under Bush, and will comtinue to do so if he is re-elected.

There was a book written in the late CLinton Administration entitled "The 36,000 Market" Or something like that. The idea was prediecated however on a Gore win in 2000. It was anticipated that within 10 years the market would reach 36,000. Based oj 8 years of Clinton like policies.

Bush blames the recession on Clinton, however, the market took a small correction in August of 2000, dropping from a 11,200 to about 10,500. It began going up again during the last months of CLintons presidency, but after Bush took office, within three months, the market began dropping even harder, and in March started plumetting, going down into the 9,000's and cintinuing to drop well before September 11th.


The market kept going doen after September 11th. but it was not thr BUsh tax cuts that ended the recession. The actual event that ended the recession was the fact that Congress would not give Bush the very large tax cut he demanded. The event that ended the recession was the perception that Congress was going to fight Bush on his deficit producing tax cuts.

[hippiegranny]

16. my last 401(k) quarterly just came out

and it was depressing. Everyone is losing money. Bush must go. (and no, that's not the only reason why!)

[MsTryska]

17. I never thought i'd say this...

but i'm glad i liquidated my 401K during my last layoff and used it for rent and bills. i couldn't take it being pissed away when i could have put it to good use.