Dow is down 364 ... this turning nasty ...

[TheCoxwain]

I hoped to see a slight correction today .. it seems to be going down like a hot brick

Lots of people are still tuned out -- i hope this doesnt turn into widespread panic

[av8rdave]

1. Already has. Thank goodness for W's calming words

[ipfilter]

4. The market always goes down when W speaks.

[Jersey Devil]

2. Good thing you didn't look at the ticker earlier

It was down 1,000 at the open

[TheCoxwain]

5. FUCK ..i did not realize .. A few days ago I thought the market will bottom out

around mid 7000's over the next year ...

Not in my wildest imagination did I think we would be reaching 7000's this week...

Holy mother of Jesus Fucking Christ...

[nc4bo]

3. Mccain also speaking now, if that makes a difference. nt

[OwnedByFerrets]

6. But, but, but....we were all assured that all we had to do

was give up 850 billion and all would be cream and strawberries.:sarcasm:

[av8rdave]

7. As long as we gave it up right %$#@ing NOW!

[Renew Deal]

8. You're seeing a correction in progress.

Widespread panic is the name of some punk rock band.

[CoffeeCat]

12. That's totally correct...

We've been in a bubble for the past two decades--that only got bigger and bigger.

There was a nice party that happened in that bubble, but that party is over.

Our economy shouldn't have EVER been allowed to be propped up with vapor money: People
behaving like assholes with credit cards--spending like fools. People buying everything
that cost more than $20 on a store card or a credit card. People buying homes that they
couldn't afford, and people flipping houses to make a quick buck. And people who borrowed against
their own home to pay for things that they couldn't afford--vacations, furniture, granite
countertops.

This has been so frickin ridiculous. Hyper-consumerism--fueled by people living beyond
their means.

This was not sustainable. However, it was made entirely possible by the Republicans who relaxed
the laws and standards for mortgage brokers, banks and credit-card companies. Plus, there's
no bankruptcy protection now! No safety net for the pain that's about to be inflicted.

Just wait until the real pain starts. What we're experiencing right now, is a small cavity
being filled. Wait for the root canal that's coming shortly--when those credit-card companies
decide that they're made enough money off of us. Those credit-card companies are going to cut
off people--cut them off cold. They'll call in balances, and require quadruple the payments
that they're getting now.

They'll do this because they CAN. Because it's all in the fine print on those credit-card
applications that no one read.

What a mess! What a sad, sad mess!

[jojo54]

9. "The Fundamentals of the Economy are Strong"

is coming back to haunt McSame, BIG time. He can spin it whatever way he wants to, but the damage is done.

[TheCoxwain]

11. Have you noticed .. He has stopped saying it after

using the American Workers as a fig leaf to cover up his miserable wrinkly shriveled up dick

[CoffeeCat]

13. LOL!

What a perfect (but yucky) analogy.

OH, it's good that we can laugh as the ship sinks!

[Virginia Dare]

14. Also his suspending his campaign for one day..

to ride into Washington on his white horse and make everything better. That looks pretty ridiculous and stupid at this point too.

[CoffeeCat]

10. If it's down like this today...

...my guess is that today is going to be worse than yesterday.

I'm no expert, but people are looking at these numbers and wondering if there will
be anything left within a week.

Bush's inane speech wasn't exactly comforting.

There's nothing, NOTHING right now--that is keeping people calm and reassuring them.

[Virginia Dare]

15. We're looking at an epic crash...

not good. On the bright side, this will mean a fundamental and badly needed change in the way this country operates. Hopefully for the better. It will be a long slow painful process though.