Reply #53: Uh, you do understand that they are crashing because our economy is in the toilet?

[girl gone mad]

I've argued for months that speculation was driving the run up - speculation caused in large part by the godawful bank bailouts and monetary policies this administration pursued. This speculation has done enormous, catastrophic damage to the real economy. The bailouts and Bernanke's QE were extremely destructive measures. Now we have hard evidence on just how much that gambit to keep the casino open has hurt the rest of us, and the traders are now rushing for the exits.

Please don't pretend that this is good news. Equities are also falling hard. Pensions will get hurt badly, since they were some of the last to pile into this trade.

Open your eyes and understand that Obama's decision to continue Bushonomics and Reaganomics was an absolutely disastrous one. If you have wisdom, you will join the rest of us in pushing this administration to take a step back and move in a new direction. If they choose to continue propping up Wall Street, kiss it all goodbye.