Dow(n)! Weak Manufacturing and Retail Drive Woe
Flickr: Creative Commons by Jef Poskanzer
The Dow Jones Industrial Average followed global markets down the rabbit hole again today, with weak manufacturing numbers and tepid retail figures driving the market down as fears of a recession took hold first in Europe and then in US markets.
At the closing bell, the Dow was down more than 730 points, with the Nasdaq off by 150 points. The net effect is possibly the market re-testing the bottom of 8500 established last week. The question mark here is whether of not that bottom will hold.
Look to Asia overnight for the answer.
- FILED UNDER: Finance, $700 Billion Bailout, Economy, Fed, Wall street
- October 15, 2008
Lot's of people's taxes will
Lot's of people's taxes will go down under Obama, I don't think they tax welfare income so everyone that is put out of work under Obama's socialist agenda will not be paying taxes at all.
BTW, Obama SAYS he will lower people's taxes, politicians say they will do shit all the time, but tell me junior, has Obama ever actually voted to lower taxes in the past?? Does he have a history of cutting taxes for anyone, or is he just all talk? Obama is a liberal, liberals do not cut taxes, they raise them. He may cut the income tax for a few, but you can be sure that he will create plenty of new taxes that will more than make up the difference.
Stealing from the rich to give to the poor will not make the poor rich, it will just make everyone poor. Obama is a fucking thief, now he may not be breaking into your house to steal your belongings yet, but if he is elected, your time will come.
- parent
By 96815October 15, 2008 - 6:37pm