Not 5 minutes in and the Dow is down 1.2% 1.6%, another little bit and we will be flirting with 7000. The S&P 500 down 1.5% over 2% and the bailout index down over 8%. Ouch. It will likely prove an interesting Friday.
Unhelpful is the news that: "The U.S. recession deepened a lot more in late 2008 than first reported, as fourth-quarter GDP was revised down to a 6.2% contraction at an annual rate from 3.8%." Nice 60%+ revision there, folks. Keep up the strong work.
GDP Shrank 6.2% in 4th Quarter, Deeper Than First Thought [The Wall Street Journal]
Posted by guest , Feb 27, 2009 9:43AM
USA! USA! USA!
Posted by guest , Feb 27, 2009 9:44AM
Looks like people like the messiahs tax plan to convert the US into Germany or France (without the good wine and nuclear power that is).
Yes we can!
Posted by guest , Feb 27, 2009 9:46AM
Markets bomb?
You should write for Yahoo news.
Posted by guest , Feb 27, 2009 9:51AM
Cheer up commrades! Everything will be ok.
Posted by guest , Feb 27, 2009 9:51AM
@3 WTF? Should she have written markets sky rocket?
Posted by guest , Feb 27, 2009 9:51AM
@3 No one said Rutgers alumni were allowed on this site
Posted by guest , Feb 27, 2009 9:53AM
@3 WTF? Should she have written market sky rocket?
Posted by guest , Feb 27, 2009 9:53AM
Erin Burnett has a nice jacket on this morning
Posted by guest , Feb 27, 2009 9:54AM
I find myself hoping for a change...
Posted by guest , Feb 27, 2009 9:54AM
Erin Burnett has a nice jacket on this morning
Posted by guest , Feb 27, 2009 9:54AM
The last two years I've heard nothing from my liberal friends who say we should get back to the Clinton years. Well, looks like the liberals got their wish. In terms of market valuations, we have!
Posted by guest , Feb 27, 2009 9:57AM
BUT THE DECK CHAIRS!?
Posted by guest , Feb 27, 2009 9:59AM
Holy $hit, UBS still advertises? No wonder the market bombed.
Posted by guest , Feb 27, 2009 9:59AM
S&P gaps below Nov lows on open so should crater, and yet we are picking up now. Real bear fatigue pervading markets at mom.
Posted by guest , Feb 27, 2009 10:01AM
I REPEAT -- NOTHING IS FUCKED.
Posted by guest , Feb 27, 2009 10:02AM
The markets did not bomb on opening. In this environment you do not focus on the percentage drop. You keep you eye on the point drop. But most of all you ignore the market and focus on the underlying companies. And over the long term you can see we're fucked.
Posted by guest , Feb 27, 2009 10:04AM
But we have been so safe under Obama......
Posted by guest , Feb 27, 2009 10:06AM
Obama and Geithner are raping the market's sweet, non-socialist asshole.
Free capitalistm. . . NOOOOOOOOO!
I don't know what I saw. I DONT KNOW WHAT I SAW. Just make it go away.
Posted by guest , Feb 27, 2009 10:07AM
@16. I pooped a little
Posted by guest , Feb 27, 2009 10:09AM
I need my snuggy!
Posted by guest , Feb 27, 2009 10:10AM
Thanks to "free markets" of late, we're fucked.
Posted by guest , Feb 27, 2009 10:10AM
@1: Greatness
USA USA USA - another great American sports chant from the sheep. Others include:
Yankees Suck
Let's Go (fill in team name)
We are such stupid nation. I wonder what they chant at Nascar?
Left, Left, Left, Left?
Posted by guest , Feb 27, 2009 10:11AM
@16 wheres the hope dickhead
Posted by guest , Feb 27, 2009 10:11AM
The great Failout of 2009.
Posted by guest , Feb 27, 2009 10:13AM
LEAVE BARRACK ALONE
Posted by guest , Feb 27, 2009 10:15AM
"How could you do this to us Valentine after all we've done for you?"
Posted by guest , Feb 27, 2009 10:15AM
F@ck Barack Hussien Obama
Posted by merkin capital partners , Feb 27, 2009 10:16AM
25...was barrack that guy in mortal kombat with the swords?
Posted by guest , Feb 27, 2009 10:16AM
"How could you do this to us Valentine after all we've done for you?"
Posted by guest , Feb 27, 2009 10:18AM
All your tax dollars is belonging to us.
-League of Elfin Indian CEOs
Posted by guest , Feb 27, 2009 10:19AM
@27 love watching you squirm, please don't jump it is not worth it
Posted by guest , Feb 27, 2009 10:19AM
@2 -- actually, in Germany the top tax rate, even with their much-hated solidarity tax, is lower than it would be for someone in the highest bracket in Manhattan. In addition, healthcare is free, the public schools are on par with our private ones, university is also free, house prices are far lower, and property tax on one's residence is verboten in the German Constitution.
Deutschland, Deutschland uber Alles!
Posted by guest , Feb 27, 2009 10:22AM
I think BHO has the largest ears of any US President.
Posted by guest , Feb 27, 2009 10:22AM
Any update on recent boob inflation rumors?
Posted by guest , Feb 27, 2009 10:23AM
@25 I got it. I wish I didn't get it, but I got it.
Posted by guest , Feb 27, 2009 10:25AM
Let me be clear - we're screwed.
Posted by guest , Feb 27, 2009 10:32AM
I want to move to Germany. Drive my M3 at 180 mph and travel all over europe.
Posted by guest , Feb 27, 2009 10:33AM
@36... Magic one?
Posted by guest , Feb 27, 2009 10:33AM
http://www.youtube.com/watch?v=ARy1PR1VAkg
Posted by guest , Feb 27, 2009 10:36AM
Erin "Boobalicious" Burnett has been looking a bit sore the last few days. Almost like she hurt her back, or had some minor surgery
Posted by guest , Feb 27, 2009 10:40AM
let's raise our marginal income tax rates, our capital gains tax rates and let's also eliminate/phase-out deductions on home interest expense.
Posted by guest , Feb 27, 2009 10:42AM
@38 - yes
Posted by guest , Feb 27, 2009 10:42AM
Why you BHO haters hatin so much? Don't you see that Bush presided over eight years of smoke and mirrors rather than any solid, true economic growth? Similar to Reagan. Let the nation run up its credit card balances and go shopping and claim all is well with the world. And, like then, its now time to pay the piper. Similar to Bush I. Some taxes, some fiscal discipline and we'll get where we need to be. So relax.
Posted by guest , Feb 27, 2009 10:43AM
bets on when C breaks the buck? poll maybe?
Posted by guest , Feb 27, 2009 10:50AM
@44
Yahoo boards that hard to find?
Posted by guest , Feb 27, 2009 10:53AM
I wish we could have elected Bush for another 8 years. I've greatly enjoyed watching the market move sideways for 8 YEARS. Hell of a job, Bushie!
P.S. You're all fucking retarded. Go back to watching TV like the fat dumb fucks you are.
Posted by guest , Feb 27, 2009 10:56AM
@43, maybe we're talking about two different things, but I don't see much in the way of fiscal discipline from Obama's budget. All I see are spend, spend, spend and raising taxes. Those aren't bold and courageous policies - those are the same shit policies the Democrats have been espousing for years. The only difference is their front man is a fabulous orator.
Posted by guest , Feb 27, 2009 11:00AM
@46 = retard
Smart money is moving to Paraguay...10,000 acre cattle ranch for a cool $1.5mil...a bull whip to keep the squatters off and an endless supply of Argentinian red wine and redder meat. Now if we could only get Stroessner back running the show...
Posted by guest , Feb 27, 2009 11:01AM
@47. Have you not been watching the fiscal discipline of the only other option for the past 8 years? Oh, nevermind, I forgot---there wasn't any to watch.
Posted by guest , Feb 27, 2009 11:02AM
@ 40 The shawled outfit Erin is wearing this morning continues to obscure her new hardware. When is she going to give us satisfaction?! As they say on Bourbon Street, "Show us your t-ts!"
Posted by guest , Feb 27, 2009 11:02AM
Messiah's kool aid kiddies are riled this a.m. Messiah talks, doesn't walk. Wrote in Hillary last Nov.; haven't regretted it.
Posted by guest , Feb 27, 2009 11:02AM
@21 please return to your teller station
Posted by guest , Feb 27, 2009 11:07AM
So how does this work? I've got the whole "you're not a trader, shut the fuck up moron, you don't know shit" thing down but haven't quite mastered the "i'm a trader, shut the fuck up, i know everything about politics" thing. Any advice? I never went to a frat, is that a problem?
Posted by guest , Feb 27, 2009 11:08AM
Plus, Bush cut taxes (which raised revenues) but then spent even more than the increased revenues. His big problem was not standing up to Congress. barney frank and chris dodd, who took in big bucks from the industry, demanded fan and fred lend money to bad credits. bush tried to stop that but failed. ain't a Repub or Dem problem, it's a Repub AND Dem problem - they is all crooked.
Posted by guest , Feb 27, 2009 11:14AM
@47, the discussion was not about Republicans, but about BHO and his colleagues. Clearly, BOTH parties can't do fiscal discipline. Once someone is esconced in his political position, he no longer cares about taxpayers. Bush was halfway there - he cut taxes (since it's really our money anyway and not the governments). He just didn't have the balls to veto his cronies. The Democrats controlled Congress for 2 of the 8 years - that should have been enough time for people to figure out that the Democrats weren't going to do fiscal discipline either.
Term limits. Enuff said.
Posted by guest , Feb 27, 2009 11:15AM
wsj down for the last 10 min... wtf...
Posted by guest , Feb 27, 2009 11:18AM
Ron Paul 2012, if he lives that long
Posted by guest , Feb 27, 2009 11:18AM
"some taxes some discipline" - you failed reading and comprehension didn't you? Open your eyes and try reading and comprehending a newspaper. When you do, "some taxes" will become "shitload of taxes" and "some discipline" will become "let's spend like durnken sailors"
Posted by guest , Feb 27, 2009 11:19AM
@56--critical of The One.
Posted by girl , Feb 27, 2009 11:26AM
@ 53 i heart you
Posted by guest , Feb 27, 2009 11:28AM
@40 & 50 - I believe you are mistaken. She didn't get the work done. Maybe wearing a new WunderbahrBra, maybe. If she did get work done, she didn't get her money's worth.
-BeckyBoobJobFan
Posted by guest , Feb 27, 2009 11:29AM
TGFD watched Citi's CFO Gary Crittenden on Bloomberg this morning for several minutes. The longer I watched, the more I kept thinking, whyTF does that smug bastard still have a job? I figured that he obviously doesn't have a f'n clue about how to cure Citi, so I turned him off. I don't think I missed much by doing so.
The Guy from Delaware
Posted by guest , Feb 27, 2009 11:30AM
What a bunch of yahoos here today.
Posted by guest , Feb 27, 2009 11:30AM
Am I an Idiot?
Posted by guest , Feb 27, 2009 11:33AM
Erin Burnett. Please.
LIZ, please come back from Fox News. Only this time, let EB do all the talking; all you have to do is wear those tight sweaters and short skirts
Posted by guest , Feb 27, 2009 11:38AM
@ merkin - It's Baraka (sp?), from Mortal Kombat.
Posted by guest , Feb 27, 2009 11:40AM
@31 - the only thing squirming is your d@ck as it shrivels up into your fat gut.
Posted by guest , Feb 27, 2009 11:42AM
Charles Gaspardingus disagrees and will refute your claim tonight, @7pm in the Equinox steam room, no towels.
RotoReuters
Posted by guest , Feb 27, 2009 11:44AM
You nailed it 55. It's about pols from either party getting their hands on taxpayer money (money the fed creats out of this air) and currying favor.
Posted by guest , Feb 27, 2009 11:45AM
anyone think it odd that BHO put many skinny white guys front and center to do battle for the financing of his social change...Treasury (bailout), OMB (budget), HUD (mortgage incentives...)
not a brother in the bunch....
Posted by guest , Feb 27, 2009 11:46AM
The New Over Class thinks this is all just fine. Burn Whitey, BURN!
Posted by guest , Feb 27, 2009 11:46AM
You nailed it 55. It's about pols from either party getting their hands on taxpayer money (money the fed creats out of this air) and currying favor.
Posted by cy , Feb 27, 2009 11:51AM
Gang,
This is a little silly to argue over who the "real" big spenders are. If we pull our heads out of our "I'm a democrat, so republicans are the bad guys (or vice versa)" asses, we'd come to realize that WHOEVER comes to power will spend as freely as they can get away with. This is why we have (had?) a constitution in the first place. BOTH REPUBLICANS and DEMOCRATS are completely at fault. Who's really at fault, however, is ALL OF US for letting ourselves be so easily fooled into following a "two party" system when both parties deliver the same exact thing. Washington (probably unknowingly, they're not smart enough for this) has effectively implemented a "divide and conquer" strategy against the population. While the two parties sit around and argue about absolutely immaterial issues like whether you should be able to say "fuck" on TV or whether gay people should be allowed to marry or not, we're having the wool pulled over our eyes as our freedoms are continously eroded and our resources are systematically confiscated. DEMOCRATS are not the answer, and REPUBLICANS are not the answer. The answer is legally enforced limited government that emphasizes peace and individual freedom above all else.
Posted by guest , Feb 27, 2009 11:58AM
what is this? cnn money? market bombs? who cares, we are all pros here, or maybe not. all this is doing is attracting yahoos and freepers, the most boring and unbalanced types in the face of the earth.
Posted by guest , Feb 27, 2009 12:00PM
73: As much as I would like to be in the "they are all the same" camp, I can't get there. Republicans are evil.
Posted by guest , Feb 27, 2009 12:23PM
@73, 55 here. Since government is in charge of government, it would be tough to create laws to limit themselves. You know, fox guarding henhouse and all that. Term limits would force people out before they get too cozy and thus mitigate the damage they can do. Unfortunately no one is going to vote themselves out of a job. Too bad.
Otherwise, you get a +1.
Posted by guest , Feb 27, 2009 12:23PM
73: As much as I would like to be in the "they are all the same"camp, I can't get there. Democrats are soft on defense, free-spending, tax-hiking, anti-growth socialists.
Posted by guest , Feb 27, 2009 12:44PM
E.P.'s market commentary is worthless.
So smug, without any real justification.
Kind of like the fools who write for the Heard on the Street section of the Journal.
Posted by guest , Feb 27, 2009 12:46PM
73, agreed
but i can't think of a way to get back to 'limited govt' -- there are too many scared, unwilling ppl who are in effect, addicted to govt services, who would ever allow them to disppear.. not to mention the politicians and lobbyists who would need to find new work
Posted by KevinB , Feb 27, 2009 12:52PM
@73 - too intelligent, didn't Dealbreak
Posted by guest , Feb 27, 2009 1:08PM
@73, 55 here. Since government is in charge of government, it would be tough to create laws to limit themselves. You know, fox guarding henhouse and all that. Term limits would force people out before they get too cozy and thus mitigate the damage they can do. Unfortunately no one is going to vote themselves out of a job. Too bad.
Otherwise, you get a +1.
Posted by cy , Feb 27, 2009 1:09PM
76,79-
Yeah, the government will never actively seek to reduce its size or influence. The policiticans who do believe in limited government get marginalized and dismissed by both parties, because limited government can't satisfy the parties' power appetites. I'm not in the prediction business, but I think we'd have to be looking at a major, major political upheaval in order for anything to really change. Even if, against the odds, a guy like Ron Paul gets elected, he's still going to have to deal with congress, who are going to fight tooth and nail for their special interests. We either need a complete pyscological revolution in this country (which seems highly unlikely), or the next great liberal democracy will have to be formed outside the framework of the united states in its current form.
Posted by guest , Feb 27, 2009 1:31PM
82,
current recession--blessing in disguise?
Posted by Boaster , Feb 27, 2009 1:34PM
cy @73- DC only attracts the best and brightest when ones' liberties and or literal survival are at risk. For 2-3 generations the smartest conservatives and Republicans have been in private enterprise. But since we've had decades of prosperity and few threats to our lifestyles, there's been little incentive to take a stand and/or serve. Think of what a Washington, Hamilton, Jefferson, Adams thought when their liberties were threatened. They fought and lead. Pearl Harbor shook up citizens from '30s isolationism and they fought & lead. My grandfather was a top NYC banker but for most of '42 he took the train to DC a few days week to help develop the war bond programs. Will current economic state lead the brightest to fight & lead? Taxes were high in mid '50s but the economy prospered, high again in the 70s then double whammy of taxes and inflation in later 70s which ushered in Reagan. But were any of these times so dire that the best fought & lead. Unfortunately the only way that the "system" will change is through major calamity, ie terrorist nuke strike, civil war.
Posted by guest , Feb 27, 2009 4:59PM
84
how about an global economic fallout
Posted by guest , Mar 03, 2009 8:41PM
Where is Billy Mayes selling me crap?