Dow falls below 10,000

[caybee 21]

It's at 9860 now. I know 10,000 is just a number, but it sure does psych me out a little.

[Dr. Obvious 49]

Glad to see that bailout was so worth it.

[Trumplestiltskin 5,791]

Well now there are knock-on effects in Europe and Asia and the markets there are being hit hard. The governments in those regions are now faced with the same choice that the US was - few countries are already considering bailout plans of their own.

In other words - its bound to get worse before it gets better. I don't think anyone expected the bailout to do much more than cushion the landing.

Edited October 6, 2008 by Paul Daniels

[Pinocchio Liberal 268]

So what!

[HAL 9000 96]

So how many of you will be spending more for the inevitable Christmas shopping season. That, I remind many of you, is when retail goes from the red to the black.

[Trumplestiltskin 5,791]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

[dalegg 143]

awe-damn-some.

[HAL 9000 96]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

See... doing your part to keep the market economy afloat. I salute thee.

[Trumplestiltskin 5,791]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

See... doing your part to keep the market economy afloat. I salute thee.

Well... the new TV may have to wait until next year...

[HAL 9000 96]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

See... doing your part to keep the market economy afloat. I salute thee.

Well... the new TV may have to wait until next year...

With VJ who needs TV?

[Dr. Obvious 49]

I don't think anyone expected the bailout to do much more than cushion the landing.

I didn't even expect it to do that.

[Ban Hammer 13,337]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

See... doing your part to keep the market economy afloat. I salute thee.

Well... the new TV may have to wait until next year...

With VJ who needs TV?

[one...two...tree 2,762]

Over a million lost jobs this year so far - with last month adding 195,000 to the total.

For those who are smug about this whole thing - you really have no idea what may come your way.

Edited October 6, 2008 by Jabberwocky

[IAMX 3,055]

We plan to buy a new couch - apart from that things may be rather thrifty this year...

See... doing your part to keep the market economy afloat. I salute thee.

Well... the new TV may have to wait until next year...

With VJ who needs TV?

With ridiculous cable/satellite prices and forced bundling who needs TV?

[kaydee457 13]

I have to laugh at some of you...Unemployment at 6% isn't as "BAD" as we've had in the past, particularly during Jimmy Carters reign........14% inflation and 21% mortgage interest was BAD, really BAD......

My advice, if you have the cahones, would be to BUY BUY BUY......This is the buying opportunity of a lifetime! You'll thank yourself a couple years from now.

I just invested another few thousand and wish I had more.....This resession will be over by December of 2009, sooner if McCain's elected.

You'll thank yourself a couple years from now.

During Carter's administration, the economy suffered double-digit inflation, coupled with very high interest rates, oil shortages, high unemployment and slow economic growth. Productivity growth in the United States had declined to an average annual rate of 1 percent, compared to 3.2 percent of the 1960s. There was also a growing federal budget deficit which increased to 66 billion dollars.

The 1970s are described as a period of stagflation, as well as higher interest rates. Price inflation (a rise in the general level of prices) creates uncertainty in budgeting and planning and makes labor strikes for pay raises more likely.

The prime rate hit 21.5 percent in December 1980, the highest rate in U.S. history under any President. Investments in fixed income (both bonds and pensions being paid to retired people) were becoming less valuable. The high interest rates would lead to a sharp recession in the early 1980s.