The news is stocks plunges 221 points on the news of 4000 jobs lost in August. That's less than 1.67%. The Dow is currently over 13,000. And the market hasn't closed for the day, yet. Four years ago it wasn't even at 10,000.
Looks like the media is having a hay-day with the 4000 job loss.
2007-09-07 04:54:35 · 10 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
My point is, I'm not so worried about the market-----heck, it's always going up and down-----I writing about the reaction that the press in having to the news.
2007-09-07 05:25:01 · update #1
I don't know how to answer your "question".
Yes, the market has gone up a lot over the past 4 years, in spite of record high oil/gas prices, the 9-11 attacks, the war in the Middle East and the Katrina devastation. The media would rather focus on the negative aspects under the Bush administration.
More indication that reducing taxes helps the economy.
One more reason not to elect Democrats
2007-09-07 05:07:32 · answer #1 · answered by heavysarcasm 4 · 0⤊ 0⤋
It's not the media - the market generally is wary that the self-induced mortgage fiasco is going to ripple deep enough to cause a recession. Any recession-like news will drive the market deeply down.
Where the media fails - not very many are asking hard questions about the hows and why and who was snoozing while mortgage lenders gave out loans like candy to kids. The media has generally been scaling back expensive long term investigative reporting in favor of hit-and-run fluff.
This is another anecdotal example that capitalism without regulation will inevitably run amok.
I am a capitalist, but there are times when greed is not good. Mortgage lenders got greedy, nobody stepped in to stop irrational, illogical lending. Soon, we will all pay the price for it.
The truly great disasters are not made of a single event, like the mortgage industry collapse. They are made of seemingly unrelated convergences of major events, which precipitate a calamity.
Be wary. The US economy is moving closer to edge-of-knife status with every deficit dollar borrowed. We are in trouble, and Gov't is trying to put the best spin on it. We need decisive, and probably painful action and soon, if we are to avoid an economic calamity.
2007-09-07 05:13:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
One would get the impression the media isn't supposed to report any bad news or it is Bush bashing. Give me a break. People who invest are very interested in this kind of information regardless of their politics. The burst of the housing market is going to cost a whole lot of jobs and the lending institution bail out is going to cause chaos in the market globally effecting many investors.
Have you heard about the put options to expire on 9/21? Someone is either going to lose 700 million or gain 2 billion depending on whether the stock market crashes by the 21st. Some are taking this as a sign of another attack or some other looming event that will create havoc in the stock market.
2007-09-07 05:32:12 · answer #3 · answered by BekindtoAnimals22 7 · 1⤊ 0⤋
i think this is just reality coming home to roost.
for years the government has been only talking about the good aspects of the economy and never the bad.
by not painting a complete picture of the economy, they have lost credibility with those of us who live with the reality of what the economy really is.
consumer confidence is down and declining AND the housing market is stumbling.
the housing market has carried the economy for years - now that may stop or slow - it's only natural that the market will correct for this new reality.
but the bushies need to be more evenhanded in the way they pass along news - a lesson you would have thought they would have learned in iraq - but we see every day that they have not...
2007-09-07 05:48:07 · answer #4 · answered by nostradamus02012 7 · 0⤊ 0⤋
Look at prior numbers and compare . . . Start with 1999 and track the growth, inflation, real wages, employment . . . It's bad . . . Then look at what is expected to happen last quarter 2007 first and second 2008 - You can not obtain an accurate economic outlook from one day . . . you need to consider the cycle as a whole
2007-09-07 05:02:12 · answer #5 · answered by CHARITY G 7 · 0⤊ 0⤋
It is not the loss of 4,000 jobs but the factors behind the layoffs
It involves the problems of sub prime mortgages, a much higher rate of foreclosures and the miserable condition of teh housing market for both new and resale homes..
2007-09-07 05:21:32 · answer #6 · answered by DrIG 7 · 0⤊ 0⤋
Don't discount that. I was expecting a job slowdown, hoping I was wrong. It turned out worse than I expected.
This is a very good indicator that many businesses feel we are very near a recession or at least a sharp economic slowdown. They are leary about adding new staff that they may have to turn around and lay off 6 months from now.
It is a big deal.
2007-09-07 05:10:22 · answer #7 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
FYI Pelosi's speech has not something to do with the fluctuation of the inventory industry. It plunges because of the fact the replaced into not handed via the congress. there isn't something to do with the messenger. The desire of a passing bill provided via president Buch elevates the element. as quickly as greater, the desire rises the factors not the messenger. Wall streeters hear and respond to" money" whoever is the messenger. Democrats or Republicans do not impact Wall street. Their YAY or NAY on a bill impacts Wall street. They checklist to us the call taken on the money. they're purely messengers.
2016-11-14 10:27:41 · answer #8 · answered by ? 4 · 0⤊ 0⤋
the market has been bouncing for a couple of weeks. I wonder what excuse they will use tomorrow. If they had any brains they would see markets all around the world have been fluctuating. Is that because of the US too?
2007-09-07 05:02:52 · answer #9 · answered by macaroni 4 · 1⤊ 0⤋
I think you should change your name to "chicken little"
2007-09-07 05:01:51 · answer #10 · answered by Anonymous · 0⤊ 0⤋