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Dow plunges below 10,000
- Text size
JOE BEL BRUNO
Associated Press
October 6, 2008
- A d v e r t i s e m e n t
Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded more than 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain.
The markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash. That’s caused investors to exit stocks and move money into the relative safety of government debt.
Over the weekend, governments across Europe rushed to prop up failing banks. The German government and financial industry agreed on a $68 billion bailout for commercial-property lender Hypo Real Estate Holding AG, while France’s BNP Paribas agreed to acquire a 75 percent stake in Fortis’s Belgium bank after a government rescue failed.
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October 6th, 2008 at 10:04 am
Yes but at the end of the day the market will rise as the very rich buy up bargain stocks to satisfy their greed. And soon America will be like Germany, and Europe, with its vast farmland neatly under the control of a few wealthy families, guarded by humble and mighty-beholden tenant farmers.
October 6th, 2008 at 10:04 am
Maybe Bush should step down as president. That would boost the markets.
October 6th, 2008 at 10:06 am
I am just looking forward to the day when the majoraty
wake up,Bush, Rumsfeld, cheney et al have moved out of
america and think they are safe in thier foriegn holes,
only to to find good american forces are on thier
doorsteps, exercising extra-ordinary rendition,
taken to an unknown facility, where they will be
questioned with extreme prejudice (not torture ),
although in those circumstances they would probbaly
enjoy it, and to finish of a public frizzling in the
electric chair, ah well back to the daily grind or maybe
not.
October 6th, 2008 at 10:06 am
FUCK THE DOW!
October 6th, 2008 at 10:17 am
I as a nobody, have predicted the Dow to bottom out at the low 7000 mark. I know others have said 5000, and they might be right afterall !!!!!!!!!
http://www.youtube.com/watch?v=wYU4XrHYpeE
October 6th, 2008 at 10:23 am
I think today we will only see a drop of 300 points or so. I think theres some behind the curtains intervention by the fed following this huge drop. It seems the markets are coming back towards the 400 range as we speak even though they were almost 600 down at first.
October 6th, 2008 at 10:34 am
I guess the bailout for the people, that went to the bankers, did not work to well to help stabilize the so called “Free Markets”.
Next time you want to give money to your daughter, don’t hand it to her brother.
Makes me sick to hear bailout for the people when they got nothing out of it.
And don’t try to tell me I am not smart enough to understand financial economies.
I understand very well that someone shot a hole in the boat on purpose and it is now sinking.
To help slow the sinking down they are throwing us overboard.
October 6th, 2008 at 10:36 am
Did anyone hear the world news report after the power hour? they reported that the guys at aig threw a party with gold cups and the works in some hotel to celebrate the bailout deal
October 6th, 2008 at 10:42 am
I just skip LONG ass posts, so thanks for wasting my time. Need to write a book? get your own damn blog.
October 6th, 2008 at 10:43 am
Expect the Great Crash to happen THIS WEEK!
They needed the Bailout first, and they’ve got it. Now every piece is set on the board, everything is put in place for the final Endgame. Fasten your seatbelts!
October 6th, 2008 at 10:50 am
The bail out was never intended to work, it was meant to just rape us for the last time before we’re taken to FEMA camps. The other countries of the world are now experiencing the intentional collapse of the dollar and the world will soon be plunged into chaos. The other bail outs aren’t working and they weren’t intended to either as the mass consolidation of wealth is carried out by the banksters for total control of the planet. This country is history………….
October 6th, 2008 at 10:52 am
Christ, all i can say is, I wish everyone Luck.. Because the worst is Coming. Im not talking about a few more Bumbs in the road But a Crater the Size of a Football Field. and on that note, After America Falls Im afraid of the new foundation America will be built upon
October 6th, 2008 at 11:07 am
Whats Next Says:
October 6th, 2008 at 10:04 am
Maybe Bush should step down as president. That would boost the markets.
???What and officially give the wheel to to Darth Vader??????
October 6th, 2008 at 11:28 am
Jim Cramer: “Take your money out NOW!”
============================
He also advises people “Take out enough cash to last you the NEXT 5 YEARS!”
http://video.google.com/videop.....&hl=en
October 6th, 2008 at 11:30 am
I heard somewhere on line that the price of oil will go to about $50 a barrel. Why? To choke out the middle east of its oil and its money.
The way i heard it was going to happen was that the US was going to open up a major oil line and flood the industry with it. This will drop the gas to a little over $2.00 a gallon. The people here are going to be elated but the people over there are going to starve. As of today….Oil is $90 a barrel!
I wish i had listened a little bit better but like i said or could remember whose site i was on but they he said, THEY were going to flood it with oil and drop the prices then, they are going to buy it all back, and cut the lines….then, prices will be like $20.00 a gallon. Oh, and that the US economy was a done deal. This would be the breaking point.
Don’t pay too much attention to the Dow, keep your eyes on the gold, the oil! I forget what the gentlemen said about what would happen once it reached $50 a gallon, but it would be a false sense of hope.
Oh, i also remember him saying that they found 2 more oil reserves, one of them being north of Russia, and the other…can’t remember but it’s somewhere in Europe. Well, we got them and plan on using them to, again, flood the market with it.
Whenever you flood the market with a product, the prices automatically drop. Supply and demand! Why do you think gold, diamonds, etc…, cost so much? Because they put a lid on it. For example, diamonds cost so much because they have you thinking that they are rare, when in fact, there is sooooo many of them, they are actually worthless.
Question, do you see the blood stains in the diamonds that you buy? Because that is exactly what it cost the African people by companies like DeBeers.
Anyway, things are going down and only a fool can think they are A OK! At this point, after being lied to so many times, you shouldn’t trust anything “they” say or do. As we can all see, they have their agenda/s and really, there is nothing that you can do about it.
You can talk about revolution all you want, but after “you” kill each other over their shit, they’ll be sippin’ martinis on the islands of Dubai. When i say “you” i mean civilian and military personnel altogether.
Soon, they won’t even be informing you on “their” matters, they’ll just be doing it, regardless of your opinions.
You know your shit is in trouble when you have foreigners in positions of law enforcement. Now, i have NOTHING against foreigners, because we are all foreigners in this land, but i do have a problem with them being in law enforcement AND military. This is america, and it should be policed by english speaking AMERICANS not mexicans, russians, canadians, europeans, etc….Those positions SHOULD be reserved for “BORN IN THE USA” AMERICANS.
For this reason, it will be EASY for them to place you under martial law. You won’t be dealing with AMERICANS you WILL BE dealing with foreigners in american uniforms. They will have NO problem putting a bullet in your ass and they certainly won’t give a rat’s ass about your constitution. America is good to them!
October 6th, 2008 at 11:42 am
WHO READS….why not skip this site altogether ya wanker
October 6th, 2008 at 11:48 am
The Global Elites plan to devalue the American dollar and make our financial markets a high risk is right on time. Plan 2 is on the way.
October 6th, 2008 at 11:51 am
Hey JT truther, he said take your money out of the stock market! And, what good would cash do you if it is no longer accepted? You will have 5 years of toilet paper.
My advice, get your money out and SPEND IT! Buy yourself a 1 year’s supply of food and learn how to farm. It takes about 1 year to produce a crop but you’ll have enough food and water to last.
And also people, we AREN’T LIVING in the stone ages, regardless of the situation we face as people, we will still have professionals to take care of your dental and medical needs, but you will need something to barter with….FOOD! Food is a better stock option than money, so to speak. If you’re going to die, die with food in your stomach.
Starving to death, doesn’t look fun but dying for something does!
October 6th, 2008 at 11:57 am
“ImJusSayin” speaks the truth. Plant your garden and stock up on the ammo! If you don’t know how to hunt start learning.
October 6th, 2008 at 12:08 pm
Michell I –
You have assumed correctly. It is happening as we speak. Each year farmers have to plce nearly everything they “lease”(not many can afford to own directly naymore unless they are frugal) and the younger farmers operate like Wall Street..
You crop is “insured” whether it makes or not for a period of a few years until you become a “risk”..
All the undeveloped land in my area of Georgia is owned by corporations which are owned by bigger corporations…
The economy is like a reverse”iv”.. instead of adding to the body.. someone is draining the blood of this nation one drop at a time into their “iv bag”..
And history is fact.. the Europeans have encountered many more internal conflicts than the US and look at them now… Humanity has been domesticated. and those of us who challenge the system stand out like the elephant iin the room.. but instead of people rallying.. they CHOOSE to be apathetic.
October 6th, 2008 at 12:15 pm
Small towns could easily seal off and go local sustainable
but they will need their entire demographic to be in accord
Don’t count on water or food
no electricity will crush most
water will be a great commodity
October 6th, 2008 at 12:26 pm
This is it! Why do you think govts around the world have been doing the last 2 decades. Training to round up citizens, mame and kill you when the system crashes. Out of choas will be a world currency.
October 6th, 2008 at 12:40 pm
Rightieo… this is a really bad movie. Finally Obama is talking about Keating 5, and the gloves come off! Somebody should start talking trash about her 17 year old pregnant daughter, I think some personal attacks would humble that bitch she needs to be punished; that woman has too much mouth. The market is correcting its self & now the ride gets scary. I’ll bet that congressional attendance diminishes pretty quickly If I was a member of congress Id be scared for my life.
@frank Screw you brother sometimes fear is healthy. I thank Alex Jones for the work he is doing waking people up. He cant chastise certain groups if he wants to stay alive, but I guarantee you people do it on these pages. He even attracts assholes like you to listen and respond. If you dont like it march your ass over to the Limbaugh letter and put your nose up his ass. There you can placate the likes of Rush and call in and praise his name. Dont get me started on Rush Limbaugh the son of a Bitch. Any way Aloha MCB
October 6th, 2008 at 12:41 pm
Of course the global market will plummit. The world watched in awe as our government bailed out Wall Street in a sinister fashion. Now every corporation in the world will follow suit thinking their respected nation will do the same. The central banks of the world will become more powerful and enslave us longer and trick us into war to pay off our debts. These people are playing a dicey game for keeps. Time to wake up and smell the blood in the coffee!
October 6th, 2008 at 1:12 pm
The financial system will not last past this week.
Get food, water, security and self-sufficiency.
October 6th, 2008 at 1:13 pm
Dude is saying his long ass retarded post is full of jewels. You’re not biased right. Maybe they are like jewels, you have to mine through tons of bullshit to get to them. You’re an idiot. That’s why support eugenics.
October 6th, 2008 at 1:17 pm
Hey Grundy, Thats what the other world leaders want. And if he steps down;Watch the markets rise, by the time cheny[darth vader] gets in there it will be election time. Its like the ceo of a company who steps down and then the company rebounds. But hey Bush like to cause misery so theres no way thats going to happen. We did not need the bail out they wanted the Bush Out.
October 6th, 2008 at 1:18 pm
The end of this lame country is coming and the biggest revolt the world has even seen will happen very soon. For more info on whats going on watch the movie Zeitgeist.
October 6th, 2008 at 1:24 pm
#27 Merrie
Wow, what a mean potty mouth you have. Better get some sunscreen, your “Red Neck ” is showing.
October 6th, 2008 at 1:37 pm
She’s really rolling down now, tonight will be a real nail biter for Asia. Then of course the cascade will hit Europe very hard. Since a lot of selling here is making sure there is something to sell before tomorrow, it’s going to be a long week. The silver lining is that historically there is about a 65 % pull back from a top that is very strong. The worst of 87 usa, or Japan early 90’s, or Asian tigers late 90’s, all have the 65 % as a firm floor. Stocks trade the same way also, the Cavet being that the company does not go bankrupt. So from the Dow high of 14,150 the bottom should be around 5500-6500. Since we are racing to that, this looks like a very fast sell-off. A lot of this is also redemptions from 401k’s, and funds, that are raising capital by selling their strongest stocks. There does not seem to be a firm floor today, so the last 1/1/2 hours should be very wild. We could close a 1,000 or 500 down, but I would lean toward the 1,000. Stock up today people, it will be a long day tomorrow, with fear picking up at work.
October 6th, 2008 at 1:47 pm
uh oh: http://www.youtube.com/watch?v=vPS7ksrKk8Y
October 6th, 2008 at 2:00 pm
I’ve been following Infowars for a couple of years now, all I can say is wow… shit is goin the fuck down!
I am vague in the world of politics but I know enough to know that we are in some fucked up shit! We need leaders, leaders of a revolution…me, I’m probably no leader my self in the aspect of political shit being my knowledge on how shit works, or “really works” for that matter is limited BUT, there are people way smarter than myself out there who can stand up, who are in various positions of advantage to speak up and start a change… Because Mcain & Obama damn sure ARE going to bring change BUT not the change you or I need or want! I’m just saying to all of you who are in a better position than myself & many other Americans, please stand up, speak out…I got your back, we got your back, have our back… lets show these cocksuckers what “change” is! The change we need is to get these fuckin basterds out of power & replace them with the Ron Pauls of America who stand up & abide by the constitution and enforce it with genuine patriotism! I’m a fairly new father of a 3 & 4 y/o son & daughter & 5 years ago before I had kids I would of smoked a fat one & laughed as the world collapsed around me but my kids are definitely a game changer for me… now I want the blood of the Illuminati & all who support them! I will give my life for my kids sake… If you are a leader and will lead the fight against these basterds I will be there… willing to sacrifice my limb & life for the sake of my kids & yours! Fuck this yick yack tho , LETS GET IT POPPIN! PLEASE…. I’m scared to fuckin death
October 6th, 2008 at 3:16 pm
you know i can agree with a lot that everyone is saying and at least im not going to sit around and talk about it until it gets worst we need to start making a plan start making small groups that think just like us, but make sure you only let people in that you can trust. if people dont want to listen then simply dont talk about it. and if people want to listen to u then let them in and start brainstorming and come up with ideas to stop this mess. get people from around the nation to start their own small groups and brainstorm together. the light will always prevail. if anyone likes this idea email me at mikesam1990@msn.com
October 6th, 2008 at 3:16 pm
Good market close, should give some breathing room for Asian, and Europe. No doubt we will test the lows today early tomorrow, but a good close was nice to see. All drive through’s at the bank I went to were open, and they had large bills, so the FED made the banks ready this weekend, plenty of money in the banks. The yen really got strong today vs. both the Euro, and the dollar. Should still be wild tonight, but good to see a floor set today.
October 6th, 2008 at 3:19 pm
Google “plunge protection team”. You will understand what happened with the stock market today. Total manipulation the last hour. It’s a fiasco!
October 6th, 2008 at 3:44 pm
the dow will settle close to 8500 because that is what it is really worth , the entire past eight years have been a complete ponsy scheme to try to make the doofus man child appear competent , vote republican we need four more years of disaster and chaos
October 6th, 2008 at 4:01 pm
#17 CT_Truther-
Jim Cramer was also shouting how ’safe’ Bear Stearns was the day before it imploded.
http://www.youtube.com/watch?v=4sZCNlPwG8o
J. Cramer is one individual any investor should avoid like the plague. He’s screaming go to cash, just before the Dow recovered some of its losses.
October 6th, 2008 at 4:18 pm
My heart breaks for the ignorant masses that is the American public, I’ve tried to inform my American brothers and sisters that its time to wake up. All i get in return is anger and insults and absolute ignorance. My family is ready for the coming struggle, were ready for the coming war against the NWO Controlled American govt. Be ready America Hyper inflation will have its hold on us in 2-3 weeks. get out and buy food, buy ammo, buy clothes before your moneys worth as much as the paper its made from. God bless all of you and may god protect you and your family in are coming war.
October 6th, 2008 at 5:47 pm
Regarding today’s crash, this bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not invest the money directly into the American taxpayers? The government could do twice as much good for the economy by returning half as much money (as the bailout requires) directly to the hardworking American taxpayers. A bird in the hand is worth two in the bush administration.
October 6th, 2008 at 6:06 pm
Yippeee here comes the amero and north american union. Google those and whatdoesitmean.com stevequayle.com the amero, etc. Dear global non elite/illuminati, you have 1330 days mol and the game is up. Signing out, your worst nightmare, elohim and one of the remnant. You better hurry up and enjoy all that you have stolen from the American people and now the world as endgame is here………………………………….Ana
October 6th, 2008 at 6:06 pm
Yippeee here comes the amero and north american union. Google those and whatdoesitmean.com stevequayle.com the amero, etc. Dear global non elite/illuminati, you have 1330 days mol and the game is up. Signing out, your worst nightmare, elohim and one of the remnant. You better hurry up and enjoy all that you have stolen from the American people and now the world as endgame is here………………………………….Ana
October 6th, 2008 at 7:31 pm
From a technical standpoint, the big news today was the Dow’s puncture of the 9700 October 2004 low. In spite of the late day rally, this clears the way for a drop to the 7400 level in coming days. That’s 2500 points below today’s close. Another possibility would be a slower decline to that level culminating around election day, at which time the perceived “good news” would spark a rally of perhaps two or three months. Doesn’t matter who wins the election, it would be construed as bullish.
October 6th, 2008 at 8:38 pm
for those of you who do not know the doofus manchild is gwb , no explanation necessary
October 6th, 2008 at 8:39 pm
utter disaster and total chaos
October 6th, 2008 at 9:11 pm
I read an article today that bush met with the PPT in the oval office in September. Now they own the stock market too along with all of our homes.
October 6th, 2008 at 9:17 pm
our country is coming to an end and all a few of you can do is complain about a post, how long it is, and if it’s full of jewels or not? WTF
October 6th, 2008 at 9:33 pm
If the Bush Admin. plays the economic crisis just the right way, they could declare an economic emergency, impliment continuity of governement legislation just before election day and cancel the 08 election.
October 6th, 2008 at 10:12 pm
But why Cancel the Election, The Next Asshole Will Do whatever He is Told to do.
October 6th, 2008 at 10:36 pm
how about this, we gather a couple thousand dollars, voice broadcast this message all day and all night till people start moving there damn as ses and standing up for whats left of there depressing lives of bad cards this government manipulates not wait for hits on conspiracy websites by guys who are half drunk and think its true but would never do anything about it because there thinking about how they are gonna buy some beer and a coochi ( including myself) im a professional marketer , we can get the message out so easily 1,000 times faster than websites and radio shows
October 6th, 2008 at 11:21 pm
IT’S A DONE DEAL FOLKS……NICE KNOWING YA!
October 7th, 2008 at 6:06 am
…Ah-bdi…be damn !!! Asta la polyester !!!
October 7th, 2008 at 7:34 am
Expect this to continue into Thanksgiving with a loss as high as maybe %80. Sell your stocks and buy gold, Silver, Land, Ammo and guns.
October 7th, 2008 at 8:48 am
Let it go through the floor.
October 7th, 2008 at 11:16 am
It is so hard to believe that with all of our nations top economist that the whole world doesn’t know what is actually going on!! In 1929; very few people understood economics!! But in 2008; we have some of the worlds leading economist who are also blinded by the new world order antichrist and his fascist regime!! With the exception of Bob Chapman who is a financial genius!! But let the globalist devils have their way!! For they will crash the economy and put us into receivership and will enslave those who don’t know and serve Jesus!! AND THEN WE WILL SUFFER GREAT PERSECUTIONS FOR NOT TAKING THEIR ZOMBIE MAKING BEAST CHIP!! And then they will martyr us and bring GODS GREAT PLAUGES UPON THEIR HEADS AND EVEN THEIR TRILLIONS OF DOLLARS WON’T BE ABLE TO HELP OR DELIVER THEM FROM HIS WRATH!!!