That’s supposed to be a funny title. 😆
Anyway, as you likely know already, here’s what’s happened on Wall St in the two days since the election:
(Click the image to see more detail.)
Can the stock market be racist? 😯
Wall Street
A Pre-Election Expectation
It’s late…too late to be doing this. This is my last computer activity of the day.
In a final effort to seal the coffin of McCain’s electoral chances, the economic picture will be allowed (or further forced) to darken in the next several days.
The wild ride is not yet over.
Rest in Jesus, and you will have peace.
Good night.
Slide Ahead
I saw some headlines just as I was going to go off-line.
My mind went shooting down a slide, though not perversely so.
I found some other headlines to fit the picture.
PS: I tinkered with the headlines.
Welcome to Today
Some morning headlines, that’s what’s here.
- Cleric: It’s Time for Islamic Financial System
- Iceland shares plunge 76%, officials seek Russian help — Russian help?! 😯
- One dead, thousands flee as fires erupt across California
- I’ll be back, McCain vows — He’s leaving? He left? Is he right?
- U.S. to pump $250 billion into banks — The government has more money than I realized!
- Investors jump into stocks, calmed by bank plans
- US stocks set to extend Monday’s huge rally — And yesterday the Dow Jones was up close to 1000 points!
- Former Fed chief says U.S. now in recession — Fine. Now we don’t have to “worry” about the “coming” recession.
- Funeral industry bucks economic downturn 😯
- Bush Pledge: “Government’s role will be limited and temporary” — How can he pledge that when he’s about to leave office? 🙄
- Nuts on the Loose Alert: ACORN Registers “Mickey Mouse”
- Latest Edition of Web Evangelism Bulletin Just Published
OK, your turn: When you want to read good news, which site(s) do you go to?
DJI in Early Freefall
Original Post Time: 6:52am Pacific; updates below
I stopped by Yahoo! Finance for a quick look-see.
The Dow Jones Industrial Average was down somewhat over 200 points.
About ten minutes later, I saw this:
Right now it’s at -898.03 — but it’s been bouncing around. I hope everybody involved is well stocked with Dramamine or Bonine!
Update 7:11 am, Pacific
Update 10:55 am, Pacific
Bailout Arrows
Whether or not you’re for the huge bailout that went into law yesterday, I suppose you should know this:
| An Oregon arrow maker suffers slings of outrage
An Oregon company selling a 30-cent shaft for children’s arrows became a bull’s-eye for critics of congressional pork nationwide Friday, when lawmakers eliminated an arcane tax as part of their $700 billion bailout of Wall Street. […] The critics gathered force, and the tiny company based in southern Oregon’s Myrtle Point found itself the surprising flash point for public venting against a bailout package with costs too vast for most citizens to grasp. […] As of Friday, Dishion received more than 100 phone calls, 40 e-mails and hate mail from people across the country, not to mention phone calls from the BBC and mentions on the Bill O’Reilly talk show. […] The flap reveals the misinformation circulating about what the 43-cent tax repeal is really about, according to Jay McAninch, president of the Archery Trade Association. […] The tax became a problem for Rose City and a handful of other companies in 2004, when lawmakers, while trying to correct another problem with the arrow tax, changed a 12 percent tax on all arrows to a flat 43-cent tax on arrow shafts. The tax, which got tacked on to every arrow shaft, goes to fund educational programs put on by the U.S. Fish and Wildlife Service. […] Rose City Archery’s wooden arrow shafts sell for 30 cents. |
Wait a minute. How does that work?
A 43-cent tax on a 30-cent shaft? 😯
“The 43-cent tax took a huge toll on its youth archery business” the above article goes on to say.
No kidding.
Breaking: Bailout Blowout
OK, OK. I don’t have time for this.
But here’s a bit to acknowledge that this crisis thing is big stuff for this country (and for the world, no doubt).
| House defeats financial industry bailout bill
The House has defeated the $700 billion bail-out legislation for the financial industry. More than enough members of the House had cast votes to defeat the Bush administration-pushed bill, but the vote was held open for a while, apparently as efforts were under way to persuade people to change their vote. On Wall Street, stocks plummeted as investors followed the developments in Congress. |
I’m surprised they defeated it.
So it’s “the Bush administration-pushed bill” — never mind Pelosi-pushed, Reed-pushed, Franks-pushed, etcetera-pushed. 🙄
But they held the vote open?! I guess I’d forgotten they could do that while they tried to armtwist and/or threaten and/or entice persuade people to change their votes. Wow! 😯
And stocks plummeted. By more than 700 points at one point. But “only” 514 as I type.