Stock Market down nearly 200 points. Down hundreds over the last week or so.

[onehandle]

Teabaggers r ekonomik jeniuses.

[The_Casual_Observer]

1. What's the reason d'jour?

There is always soemthing new to blame it on.

[daa]

Bond rates are going lower which means the debt deal sucks

and they know it will tank the economy and that takes out stocks. Its the bond vigilantes.

[Cali_Democrat]

4. The yield on the 10 year is at 2.61%

Holy shit! That's crazy!

[The_Casual_Observer]

5. So bonds are getting more expensive along with everything else.

We are in for one bad ride.

[daa]

6. And paying lower interest nt

[The_Casual_Observer]

8. Only thing that I think I learned in business school was

that a high bond price = low bond yield.

[daa]

19. And stocks move the opposite of bonds. Bond price up, stocks down nt

[golfguru]

9. The "D" word?

[Cali_Democrat]

7. You have it backward

If the "Bond Vigilantes" didn't like the deal and think default is a possibility, they would have asked for higher interest rates from Uncle Sam, yields would spike and bond prices would collapse like Greece.

The opposite is happening right now, bond prices are rising and yields are falling.

Truth be told, the bond market never even priced in a default and never saw it as a threat because if they did, the yield on the 10 year would have been well over 3%.

Just further proof this whole debt crisis was manufactured.

[banned from Kos]

11. Well put - also Treasury yields are proof inflation is dead

if food prices rise its a function of supply shortages.


Deflation is still enemy #1.

[Hawkowl]

18. Yep. The vigilantes are all Keynesians

The professionals know that Obama and the Congress are ushering in the Great Depression of the 21st century.

[daa]

3. Dup delete please

[Cali_Democrat]

2. The economy is fucked

No joke. Look at the recent employment and manufacturing numbers.

Pretty much the only jobs we have created since 2008 are low pay hamburger flipper jobs. Helicopter Ben has tried to inflate the economy through low interest rates and endless money printing to no avail. Also, the stimulus wasn't nearly enough.

We needed real structural reform of the economy and we got shit. Now we're also getting austerity which will ALWAYS lead to lower economic growth. It's the opposite of stimulus which is insane because there's not nearly enough demand right now.

America made it's bed, now we all have to sleep in it.

[golfguru]

10. All correct, and it proves my point..

No one can prosper by spending on borrowed money.
Those earning over 100 grand should have been paying
more in taxes so we did not have to borrow Trillions
from China & others every year.

[banned from Kos]

13. look at M1 data - "printing money" is a misnomer

QE3 is likely now.

Oil is falling again - we will see $80 soon despite the protests of dollar hawks.

[DemocratSinceBirth]

23. That's The Lone Bit Of Good News

~

[quiller4]

16. new claims for unemployment dropped last week far below

estimates. New jobs in my region are not low wage service jobs--those we are still losing. The tech sector is picking up and so is aerospace. Boeing subcontractors are hiring experienced machinists, welders, tool & die makers. Boeing, too, is hiring. Those are well paying jobs but they are no help to laid off office workers struggling to find employment. Neither are the jobs opening up on the Port. Our Longshore local is at pretty close to full employment but again we are talking about a skills mismatch. Unemployed office workers and carpenters are still struggling.

[pretzel4gore]

12. i hope it crashes

in fact, i hope the 'Olde Timer' pulls the plug on humanity. Fascism wins too darn easily. Ice cold oblivion for ALL eternity will suit it, fascism (ie conservativism) to a 'T'
lol

[banned from Kos]

14. So you are an anarchist? I don't agree but I sympathize.

The philosophy of Dominionism is doomed to fail.

[Fuddnik]

15. The markets have found their certainty.

And they certainly don't like what they see.

[bigwillq]

17. They better not blame this on O.

:rofl:

[alpha9161]

20. I lost a lot of money today nt

[crazylikafox]

21. This AM on CNBC they were complaining the debt deal was no good because it didn't cut entitlements

but will cut all the other stuff we really need like roads & research & schools. Guess they don't think that the elderly "really need" Social Security & Medicare.

[onehandle]

22. Closes nearly 300 points down. Mission accomplished. nt

[DemocratSinceBirth]

24. It's Dow 10,000 Time Again

Let's party like it's 1999...

[golfguru]

25. No, because the Big Internationals such as IBM, GE

are making good use of burgeoning markets in Asia and making huge profits.
The mid-caps were the worst performers today because they mostly do business in this country.