WHERE IS any discussion of yesterday's 242 point stock market plunge???

[Mugsy]

Beside my own comments yesterday in my blog, I haven't seen ANY discussion on any of the major blogs I read on a daily basis:

DOW Falls Another 242 Points: Myth that “Bush Market” based on “real growth, not hype” is laid to rest.

The DJIA (Dow Jones Industrial Average) plunged another 242.66 points Tuesday, a week and a day after plunging 416.02 points on March 5th… the subject of BI30’s final entry in the old blog format. At that time, I pointed out how… adjusted for inflation… the Bush economy never came close to surpassing the Clinton peak in January of 2000. In fact… adjusted for inflation… the Bush economy is actually well below the levels seen under President Clinton, achieving A NET NEGATIVE GROWTH for the six years GW Bush has been in office. While stocks gained slightly, the market never recouped its losses from that devastating session just one week ago.

(...)

For years, Bush supporters defended this anemic growth when compared to the “Clinton Super Bull” on the grounds that “the Clinton Market was based on hype… over-exuberance of the ‘dot.com bubble’ and not ‘real growth‘.”

But it was bad economic news over the number of people defaulting on their home mortgage loans that precipitated Tuesday’s crash. This “housing bubble” is the direct result of a string of horrifying emergency interest rate cuts by the Federal Reserve after 9/11, initiated as a way of preventing an already floundering Bush Recession from turning into a full-scale economic disaster.

(...)

(more)

[Lorien]

1. If a Democrat were President the MSM would be screaming about this

as it is, the RWers I know think the current economy is "one of the best in history". One is even planning to buy a home soon using one of those no money down, interest only loans. I think that discovering that Faux News has been lying to them all along will be a very rude awakening indeed...but they'll probably find some way to blame Clinton or Pelosi for all of it. :eyes:

[natrat]

3. tell your facist friend an ajustable is the way to go :)

[lectrobyte]

11. If someone hasn't bought a house already with all the easy credit out there,

then they may have missed the boat. Just look at some of the news on Countrywide or Ditech, I have to believe the easy credit ride is coming to an end.

[Lorien]

12. He should have bought during the Clinton years

prices are way too high in our area these days. The guy is 45 and is just now thinking about buying his first home-talk about rotten timing! Not that I feel badly for repugs who have duped by the GOP noise machine....

[garybeck]

2. It's right here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=403817&mesg_id=403817

only 3 replies. I thought it warranted more discussion....

[havocmom]

4. Everybody was busy calling brokers to SELL first thing this AM?

I love the news that GM infused a BILLION into GMAC:

http://news.yahoo.com/s/nm/20070313/bs_nm/gmac_earns_dc;_ylt=AjrcV0FJXu2rnPbRsHgq7L2yBhIF

"...a capital infusion needed to complete the sale of the automaker's majority stake in the face of escalating defaults in the U.S. mortgage market."

So, the boys in the executive suites blame all their woes on workers and health care costs... Hmm, the economy in the crapper for the working class and resulting defaults on mortgages had nothing to do with it?

Sounds like the S&L mess of the 80s was just an appetizer.

[Tsiyu]

5. If you bring it up

you are wishing for the utter destruction of our nation!

Shut up and go buy a new purse and some red meat.

:sarcasm:

[Mugsy]

6. It's the Dems fault!

Now you KNOW that the reason the market has started its slide is because of ALL THE DEMOCRATS ON THE CAMPAIGN TRAIL TALKING THE ECONOMY INTO A RECESSION, don'tcha? :)

[Tsiyu]

7. Yes!

There has been a massive conspiracy since the Clinton Administration to only talk about the negatives!

People aren't buying overpriced Chinese-made crap cuz they're too broke to afford the gas to get to the mall; those idiot liberals are scaring everybody off!

Damn them and their reality-based comments.

Now shut up and go buy an SUV and some genetically modified kumquats!

[BluePatriot]

8. Even my co-worker,

who has entertained GD with her zero knowledge of current events, noticed the stock market yesterday. So, take heart...John/Jane Doe notice those things, along with gas prices. They may not understand them entirely but it does make them start to wonder, ask questions, pay attention at least.

[Mugsy]

9. These swings have become too commonplace.

These outrageous swings in the market... the hallmark of an unstable economy... have become so commonplace that it's becoming akin to news of "the latest bombing in Iraq". 150 people will die in a car-bombing and it's not even the lead story anymore on the evening news.

[ComerPerro]

10. They're busy tyring to find a way to blame Congress

[gravity]

13. Well the stock market went up 57 points today

Looking at every little in the movement in the stock market will drive you crazy. Most of it is random noise in the short term.

[GreenTea]

14. Dow Recovers From Slide to Finish Up 57 - Today's fucking AP

(03-14) 13:29 PDT NEW YORK, (AP) --

Wall Street gyrated and then steadied itself Wednesday, closing with a respectable advance although the Dow Jones industrials fell as much as 136 points and briefly dropped below the 12,000 mark before recovering.

Stocks bounced back and forth a day after concerns about faltering subprime mortgage lenders sparked a broad selloff. H&R Block Inc. had added to Wall Street's uneasiness by announcing after the closing bell Tuesday its fiscal third-quarter losses would rise because of a $29 million writedown at its mortgage arm.

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2007/03/14/financial/f131749D54.DTL

[earth mom]

15. My question is: How much has it fallen this past month?

I don't follow the stock market at all, but noticed when stocks fell a short while ago and now they've fallen again...! What's the total, anyone know?

[Geek_Girl]

16. I think it's fallen about 300 points

I'm getting a little jittery. I left my job that I hated thinking I could grab something else pretty quick but the stock market shenanigans has gotten me worried.

[theboss]

17. Market goes up...market goes down

If you watch the stock market day to day like a sports team, you are going to drive yourself crazy.

[rug]

18. I don't care; I don't have any money.

[Ghost Dog]

19. You ever hear of the SMW thread, right here every day in DU?

(Here today, gone tomorrow...) http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2766735#2767437

Look for it every day in LBN, as from around 12:00 GMT (that's, right now, around 07:00 EST).