Dow plunges more than 300 points
http://news.yahoo.com/s/ap/20071101/ap_on_bi_st_ma_re/wall_street
Truth be told, I don't equate the stock market to the US economy due to so many US companies moving out of the country in the first place. Yet neo-cons assume that the DOW IS the economy, much like they confuse Bush with a country called America.
2007-11-01 09:15:38 · 11 answers · asked by Chi Guy 5 in Politics & Government ➔ Politics
mojorisi (below) It went up due to the life-support rate cut. That good feeling didn't seem to last for long.
2007-11-01 09:22:03 · update #1
Sahara (below) Absolutely right. It isn't something to celebrate. It is simply a reality that has to be dealt with. Playing make-believe doesn't help matters. Rather keeps people moving in the wrong direction.
2007-11-01 09:26:26 · update #2
xuserx20 (below) Bingo! What can the average American family afford today, versus last year and so forth.
2007-11-01 09:27:43 · update #3
The economy is booming? Wish someone would tell my local economy that...
2007-11-01 09:19:50 · answer #1 · answered by vinster82 5 · 3⤊ 2⤋
Wow. The Dow is down today.
I guess you have been right for the past four years. The economy really is in the toilet.
Now if we can only do something about those pesky unemployment and GDP numbers.
Edit: Remind me not to hire xuserx2000 as my portfolio planner. LOL.
xuserx2000: Idiot.....? This from a guy that thinks that stocks surge at the end of the year because of Christmas?!? I have an idea, lets just buy stocks in September, and then ride the Christmas rush to riches. LMFAO.
BTW, you might want to check your sources. GDP growth was 3.9% last quarter, well above expected. And Chrysler doesn't make the economy. Why don't you check out the better than expected jobs report from today. Moron.
But thanks for playing.
2007-11-01 16:22:06 · answer #2 · answered by Time to Shrug, Atlas 6 · 0⤊ 2⤋
Dow plummets a whole 300 points??? Wow thats like less than 1% of it's volume. 300 points is more of a hicup than a plummet. And last nights Business news shows the economy grews by almost 4% last quarter which by any reasonable definition is great.
2007-11-01 16:27:36 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Your lack of knowledge is showing again. When the economy is strong, stock market values go up. A one-day change in numbers is meaningless.
We have had unprecedented economic success in the US for the past six years.
I will enjoy the good times while you continue to bellyache.
Wait until the end of the year. The stock market numbers will be up for the year, meaning lots of people have maid lots of money.
2007-11-01 16:31:04 · answer #4 · answered by regerugged 7 · 1⤊ 1⤋
There is a relationship because the value of a business does ultimately have an impact on a nations economy. But you are correct in discussing the confusion of many proponets of Bush propaganda.
2007-11-01 16:21:53 · answer #5 · answered by Triumph 4 · 0⤊ 0⤋
I missed your post in September when the Dow soared 1000 points.
2007-11-01 20:59:20 · answer #6 · answered by ? 6 · 1⤊ 0⤋
they'll be in hiding until black Friday, then they will be out in force the following Saturday touting the economy once again...
Every year Bush touts the economy, right around Christmas naturally....as if the sudden surge in stocks has everything to do with him and nothing to do with consumers spending their last dime during Christmas.
Not to mention....most Americans do not own stock... so what the hell does a rise in stock price have to do with the price of a gallon of milk ? (which is over $5.00 now..)
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Edit:
Johnny,
I don't work for idiots...
Unemployment ?...how's about that 14000 jobs slashed by Chrysler ?....and the GDP is lower than analysts expected...so stuff it.
2007-11-01 16:24:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I am going to put my fingers in my ears and shut my eyes and deny the fact that the the:
Stock market is unstable
Interest rates are high
The housing market is less than strong.
Unemployment is up.
and the American dollar is hitting a 50 year low.
These are all the signs of a recession, however I choose to believe the economy is good because I enjoy ignorance.
2007-11-01 16:21:08 · answer #8 · answered by smedrik 7 · 3⤊ 2⤋
If there's one thing you can count on the stock market to do, it's fluctuate.
It's ideal for shallow political thinkers: When it's up, you can give credit to the politicians you support; when it's down, you can blame it on those you don't like.
2007-11-01 16:21:19 · answer #9 · answered by B.Kevorkian 7 · 1⤊ 0⤋
The DOW was up just as much yesterday as it was down today.
2007-11-01 16:18:29 · answer #10 · answered by mojorisin9 1 · 1⤊ 0⤋