I know why the market is down today with the signing of the jobs bill ...

[Zen Democrat]

It's because Wall Street hates labor. Ever notice that over the past 20 years, at least that I've been watching, whenever a big corp announces layoffs or "downsizing," the market loves it and the stock value shoots up. Lower labor costs = higher market prices.

The market is now so skewed and stewed that I don't think there's a cogent working philosophy on the street anymore. But, you can bet that the parts of the new bill that encourage domestic labor and discourage foreign outsourcing must pain Wall Street considerably. These fat cats know that one day we'll be out of this funk, but the new laws and practices put in place now won't be going away.

[EmilyAnne]

1. I believe you're right, Zen.

[PM Martin]

2. I thought this was an obvious known around DU.

[leftofthedial]

3. The stock market is IRRELEVANT in this "recovery"

(Actually, this isn't a recovery. It is a paradigm shift and a re-leveling.)

The stock market is a side game. If you're not in it, it doesn't matter.

[BrklynLiberal]

4. Exactly!! When the newsperson insinuated that the market was going down because the President is

signing the jobs bill, that is just what came to my mind! Why would the Wall Street Corporatists be happy that this bill is becoming a reality?

[Motown_Johnny]

5. Buy on the rumor...... Sell on the news.....

[dkf]

6. No no no.

Its because of the speech tomorrow detailing the Bank bailout including the bank stress test.

Wall Street doesn't know which banks are insolvent and will punish the sector and the market until there is better transparency.

[NightWatcher]

7. Wall Street hates Main Street.

if it's good for us, it's bad for CEO's and bottom lines.

or

the Market is just a bunch of hamsters typing on computers after being force fed espressos.

[sandnsea]

8. It's Eastern Europe and Asia

Has nothing whatsoever to do with the jobs bill and shame on the pinheaded media for saying so.

[regnaD kciN]

9. Dubious...

Why go to a conspiracy theory when there's a clear-cut explanation? The market dropped because of a) the horrible economic news coming out of Japan and b) fears that GM and/or Chrysler are about to go bankrupt.

Sometimes a cigar is just a cigar.

[Zen Democrat]

16. There's no conspiracy. It's evident on the face of it.

The Japanese economic situation IS what it is. The US automakers situation IS what it is. And the Wall Street aversion to full employment is also what it is. Wall Street hates employing the working class, and especially the UAW. It's all a thing that's going down the drain for them.

I'm interested in knowing how the Wall Streeters and erstwhile Corporate Cogs will explain their own loss of jobs, since they've historically blamed working class unemployment on "laziness."

[Occam Bandage]

10. Also, the Japanese economy is shrinking at a 13% annual rate, there are

circling fears that TARP will not save the banking industry, Wall Street is betting the stimulus isn't going to help anything soon (which it won't), and most importantly, foreign markets all dropped significantly before the American ones opened.

But yeah, I bet it's all because fat cats hate workers.

[d206s]

11. Reason Why..........

it's because many more are now realizing that all is lost.
The whole economy is going down the tubes..........
Beyond Obama's control, fear is rampant.
Get a gun and figure out how to grow food........
Stockpile candles and firewood.

Fend for yourself !!!!!

[Occam Bandage]

13. Figure out how to grow food? Nah. I'll just round up a posse and take over a grocery store.

We can hold scavvers at the entrance; the limited entryway space will serve as a force multiplier. With a few barricades, we should be able to hold against anything short of the national guard.

[agent46]

19. I whole-heartedly disagree

If you really think the end is near, get out and start building community and establishing channels of interdependence in your neighborhood or district. "Law of the Jungle" isn't necessarily the default mode of an epochal change like the one that's upon us. There are lots of other paths. IMO what you're suggesting is the old way. I don't believe it works for anyone in the long run.

Personally, I think the end is beer. So my friends and I are dug in, stocked up, and ready for fiesta!


:toast:
"...Because it's not the end of the world - it's Miller Time!"

[depakid]

12. No- the market's down because it believes the Dems didn't get the job done right

among other things- states are in a crisis, and in the spirit of "bipartisanship" the Dems "compromised" away $40 billion in federal revenue sharing. Brilliant move.

In addition, Geithner botched his plan for the financial industry- so there's a lack of confidence about getting things done right on that front, too.

It doesn't take a genius to to see that dysfunctional Republican policies are still- if not holding sway, unlikely to be dispensed with as they need to be in order to stabilize the economy.

[Occam Bandage]

14. Is that why the Nikkei dropped too?

How about the Eastern European markets; do they hate bipartisanship also?

[depakid]

20. Different markets

but there are common themes- one of which is that economists aren't convinced that the watered down stimulus plan- or the half baked baning plan are going to be effective.

The numbers don't add up.

And as the US goes, so go the lion's share of Japan's exports.

[Andy823]

15. My view is

Investors are jumping on the gold band wagon again. Gold will soon be up to the $1000 per ounce mark, again, and those who have been buying it up can make a good profit when they sell at $1000 or more per ounce. They are letting the stocks go down so they can buy them up with the money they make on gold. If you have money there really are some good buys out there in stocks, and I think that those who lost a lot in the markets are trying to get some of that back by buying when prices are low, and selling when they go up a couple of dollars per stock. If you have millions invested you can make money. Maybe not like they were doing in the housing bubble, but there is still a way for them to get some of that money back. Those with the big money control the stock market, and they know what they are doing. Of course I could be wrong, but it's what I see happening.

[d206s]

18. Those in the NorthEast

Ever been in a grocery store the day before an inch of snow is forecast?
A friggin' INCH OF SNOW !!
The 'battle' for the last bread and milk.................
That's when I figured out to 'head for the hills'.
Imagine what is coming .............??

[tigereye]

17. that has always creeped me out - the finance/stock broker talking heads

would always speak about layoffs and such with an incredible lack of empathy. :eyes:



There is a bizarre, almost neurotic quality to Wall Street as a whole...