Ok 500 points sounds like a dang correction UNTIL

[nadinbrzezinski]

you realize the total of losses for the last nine days... all profits for the YEAR wiped out and we are now in negative territory. This is no longer a correction... but that's ok. The employment numbers tomorrow might feed something ugly...

Hey DC are you listening? And will you do the RIGHT THING this time? Glass Steagal... oh never mind... of course instead we will cut SS... after all we all want this for our retirements, really... :sarcasm:

[nadinbrzezinski]

1. DU burp

[cbdo2007]

2. It is still a correction - look at a chart of how quickly we "recovered" from the low in March 2009.

It was much too rapid. I think most of us have been expecting this for awhile now and it will probably still drop even more over the coming months.

[nadinbrzezinski]

3. So wipping out earning is a correction?

Not according to my stock broker, but what would he know?

Serious...

[cbdo2007]

4. hahaha, what??

What earnings were wipped out?? If you're invested in solid companies all of the earnings are still there and they'll recover. Corrections will weed out the bad seeds that have grown unnaturally so the quality companies can prosper. Sounds like your stock broker could use a good lesson on the history of the stock market.

[DemocratSinceBirth]

6. Sounds like your stock broker could use a good lesson on the history of the stock market.

Will he tell you that the market was at the same place in 1948 as it was in 1929?

or that the market was at the same place as in 1966 as it was in 1980?

That's a long time to recoup your losses.

[cbdo2007]

7. The market isn't a "get rich quick" scheme, no matter what the news and your stock broker

will try to convince you it is.

Your example works well - for those two exact time periods you mentioned if you happened to buy at the low points and sell at the high points. Luckily there are NO smart investors who invest that way.

[nadinbrzezinski]

10. Nope it is not, but wiping out earnings for a year is not a correction

no matter how badly you want it to be.

In fact, tomorrow, depending on the jobs numbers, we may see a CAPITULATION.

[cbdo2007]

18. That's exactly what a correction is.....

but I don't want to be the one to rain on your doom and gloom parade. If you are dollar cost averaging like you should be this will be no more than a tiny blip on your "earnings".

[nadinbrzezinski]

20. Whatever pal, I guess is all nice and shiny n your world

have a good day... or not, don't really care.

[cbdo2007]

28. My world is realistic....It's just funny how a month ago when the market gained 1,000 points

in 2 weeks nobody noticied. Now when it drops 1,000 points in 1 week everyone is freaking out. It goes up and it goes down. It always has and it always will.

Getting worked up and overhyping the whole thing doesn't do anybody any good and just spreads panic rather than reality.

[zappaman]

29. Must you rain on the doom and gloom paraders?

Everything that happens must be a prediction of doom and gloom, don't you know that?

[LanternWaste]

15. Increases as well as decreases are fundamentally corrections each.

Increases as well as decreases are fundamentally corrections each.

I imagine though that it rarely fits into a narrative to perceive that Econ 1302 tidbit.

[nadinbrzezinski]

24. Of course they are... you are correct

thanks

[tridim]

5. Obama still hasn't cut SS nadin.

And he still won't.

You're pretty much obsessed with this fantasy.

[nadinbrzezinski]

9. well if you say so

I did not post he was going to do it... but he placed it on table... and in case you missed it... talking head suggested we need to get rid of ENTITLEMENTS right now... care me to tell you what that is code for?

Jaysus age... by the way NICE PERSONAL ATTACK...

FANTASY... what is next? Should I report to the reeducation camp where the DLC will teach me the right thinking?

[tridim]

16. I don't give a crap what you do about your fantasies.

It's your right to post them all over the Internet.

Obama and the Democrats want to save SS from the GOP who want to kill it. That is his only position on the issue.

[in_cog_ni_to]

26. So that's why he, OBAMA, put SS on the table when no one asked for it to be there.

OK. It was done just for fun or to give senior citizen's heart attacks. Gotcha!

[JoePhilly]

25. The programs exist, they are always "on the table".

The GOP hates them. They exist. They are on the table.

They are always on the table.

BTW ... I think you would agree with me that ...

1) We should raise or eliminate the cap on income for Social Security, right?

2) We should lower the age for medicare, say to 55, right?

How do you plan to do that if these programs are not "on the table"?

We can't argue that these programs can't be touched, and then claim we want to change them.

[in_cog_ni_to]

27. BULLSHIT! They were NOT up for bargaining until OBAMA put them there.

Stop trying to give versions of the truth. Truth doesn't have versions.

[JoePhilly]

30. If Obama is so evil ... why weren't these programs cut now?

That is your point right?

You claim Obama "put them on the table".

Did you read about Paul Ryan's budget plan? The one that tries to KILL those programs?

Obama did not create that. The GOP, as part of their effort to destroy the economy and regain power, demand that those be part of the discussion.

Obama did not do that, they did.

And sure, he can tell them to F**K-OFF ... and then the government stops, we default, and as I said the GOP moves forward on it main goal, which is to KILL the federal government.

Did Obama agree to any cuts, yes or no?

No.

All he did was say "ok, you want cuts over here ... what do you offer in exchange?" ... and then when they responded, he said ... "Umm, no.".

What a prick he is!!

[FarLeftFist]

8. A stock market bubble.

All of this just continues to validate the need for left-wing policies, especially as long as we (Govt) keeps approaching these problems from a (f)right-wing mindstate. Pssst, DC, we've tried EVERY RW "solution" and 100% of the time the solution became more of a problem. Time for a sharp Left-ward lurch. TRUST ME, it WILL WORK....If you give it a chance to. How do I know? Because we don't need NEW solutions, we just need to look back into our history to see what works. Under mostly Liberal rule (roughly 1940's-1970's) America was the most prosperous and sought after Nation on the planet. We were #1 in damn near every global competition category.

[nadinbrzezinski]

11. Well we should start by bringing back Glass Steagal

and taxation rates around the Kennedy administration. I know a gal can dream... don't expect to see this anytime soon... they are channeling Hoover these days.

[JoePhilly]

21. What was the DOW last summer?

And the summer before?

Unless the DOW falls below those levels, you make no sense.

[FarLeftFist]

32. Not really, here's why:

Those numbers were only inflated due to the prospect of Govt spending i.e. Stimulus spending, infrastructure, etc. Things that could ACTUALLY create job growth, without those we are seeing what happens under republican policies i.e. Spending cuts with ZERO revenue. That is a RW policy. Remember, Boehner got 98% of what he wanted.

[JoePhilly]

33. Boehner didn't get 98% of what he wanted ...

Unless you trust that prick. I don't. He's spinning.

If he got 98% of what he wanted, we'd have had a default, and Social Security would have been gutted NOW.

But neither happened. What Boehner "got" was a DELAY in the government taking ANY action on ANYTHING.

That is all he cares about.

The DOW should be between about 10,500 and 12,500 ... and now that the GOP holds the House, on the low side of that because the plan to stop ANY action that would help the economy.

But let's blame Obama ... in fighting on the left is a great strategy.

[FarLeftFist]

34. Well I don't remember blaming Obama

I actually like Obama, he's a breath of fresh air. I also don't really give that many shits about the stock market either. What I'm saying is, is that we (the US Govt) has been trying every RW trick in the book to solve the economic crisis. Maybe it's time to start implementing proven left-wing policies. Boehner did get 98% of what he wanted, which was to cut Obama off at the knees and not raise taxes on billionaires, their was no way a default was happening, the GOP and Wall St. are in a deeply involved relationship. Can't really do much about the economy now with no money to spend. No jobs programs, no stimulus, nothing.

[Liberal_in_LA]

12. just don't blame the dow drop on Obama. It's in response to GLOBAL FEARS

not just Obama fears

[nadinbrzezinski]

13. Did not blame him for all of this

but DC has a smidgen to do with this. I will leave it for future historians to decide who gets most of the blame after the dust settles, RIGHT NOW... the Eurozone seems to have most of it... but we will really not know just how much due to the Austerity pact from hell.

Regardless historian will NOT be kind unless they stop channeling hoover.

[banned from Kos]

14. by definition a correction is a 15% retracement before upward

movement resumes.

This looks like a textbook correction.

[rdking647]

23. it a 10% retracement not 15%

[cottonseed]

17. The stock market will be higher 3 months from now then it is today.

It's the stock market. That's what it does.

[JoePhilly]

19. Can you outline the votes to do what you want?

From the House, from the Senate?

Can you name who in the House and Senate would support your plan today?

As for the DOW ... yes, this years gains are "gone". Of course last summer, the DOW was at what 9800, no?

So if we use that view of YEAR (this time last year), we're still UP. And if we go back to march 2009, when the DOW was at 6500, we're still up about 40%.

But hey, let's hope the unemployment numbers are bad tomorrow.

[rdking647]

22. the definition of a correction is 10%

we just hit correction territory today. a bear market is 20%

(but it still hurts)

[Motown_Johnny]

31. +1

[DCBob]

35. US futures are actually slightly up..

this is not a crash.

[deacon]

36. Thank boehner and the tea party -screwing with the global economy as a PR stunt.

[YellowRubberDuckie]

37. I work for a mortgage company.

We are hiring like mad.
If you are in OKC and need a job, it's not Chesapeake, but it's a job and benefits. We are about to get very busy. I'm not happy about it, but honestly, it's an industry that is always booming.
Duckie

[JI7]

38. i read oklahoma was one of the best places for jobs right now

how much do homes and apartments go for there ?

[YellowRubberDuckie]

39. Honestly, I'm not sure.

I know that a nice one bedroom is around $600 depending on where you go. If you don't mind small, you can look in The Gazette and find some nice small, historicals for super cheap.
We bought a house in a quiet working class neighborhood for under $80K. It is fairly nice and in the middle of everything. The neighborhood across the main road from ours has several houses for sale as well in that price range. 3/1 normally.

[JI7]

40. that's really good but i'm comparing it to california

where i'm at.

[YellowRubberDuckie]

41. You will be in heaven here then.

Cost of living is WAY cheaper. But tou may make less too...