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Author Topic: McCain Boasts Economy Strong..While Dow and S&P both drop 5%  (Read 1615 times)

Offline Getback

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #75 on: September 17, 2008, 05:31:36 PM »
Quote from: bj229r on September 16, 2008, 06:43:04 PM
Only problem is 40% of Americans pay no taxes at ALL (and the first 10% pays half of ALL taxes, thanks to endless mantras of 'tax-breaks for the rich')

Am I the only one who is nervous about a country where the vast voting majority is voting to confiscate money from the rich minority and give it to lesser earners?

Nope, That has never made sense to me. Class envy that is. You have to remember that initially tax was 1% and then only on the top 10% of the wealthiest. Now it goes right down to the bottom. Even your children. So if they do raise taxes on the wealthy it will some amazing way creep down to everyone. I think the last I heard is that Obama wanted to raise taxes as far down as 22k. Also, one of the reasons why the great depression lasted so long was that they raised the taxes on the wealthy to 90%. So no investing was done and hince no growth. Then they were taking to court because their effective rate was only 70%. Pretty sad.
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Offline MORAY37

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #76 on: September 17, 2008, 11:54:24 PM »
What?  No more wonderful posts about the bounceback of the Markets?  Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....

Thats a subtraction of around 900 points, or 7.5% in three days.   (two huge drops as the buns between that teeny 140 gain)  Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT.  Yep, the fundamentals sure are strong........

WAMU next in line?  The first failure of a major american bank in 30 odd years?

LOL, now McCain today says he supports regulation of the markets.  26 years promoting deregulation, and he changes his position in two days.  Unreal.
« Last Edit: September 18, 2008, 01:31:10 AM by MORAY37 »
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Offline SkyRock

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #77 on: September 18, 2008, 12:55:48 AM »
Quote from: MORAY37 on September 17, 2008, 11:54:24 PM
What?  No more wonderful posts about the bounceback of the Markets?  Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....

Thats a subtraction of around 900 points, or 7.5% in three days.   (two huge drops as the buns between that teeny 140 gain)  Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT.  Yep, the fundamentals sure are strong........

WAMU next in line?  The first failure of a major american bank in 70 odd years?

LOL, now McCain today says he supports regulation of the markets.  26 years promoting deregulation, and he changes his position in two days.  Unreal.

pretty much.......yup. :aok
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Offline bj229r

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #78 on: September 18, 2008, 06:30:12 AM »
Quote from: MORAY37 on September 17, 2008, 11:54:24 PM
What?  No more wonderful posts about the bounceback of the Markets?  Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....

Thats a subtraction of around 900 points, or 7.5% in three days.   (two huge drops as the buns between that teeny 140 gain)  Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT.  Yep, the fundamentals sure are strong........

WAMU next in line?  The first failure of a major american bank in 30 odd years?

LOL, now McCain today says he supports regulation of the markets.  26 years promoting deregulation, and he changes his position in two days.  Unreal.

Hmmm...my mortgage is with WAMU...I suppose it getting 'lost' is a bit much to hope for :) In fairness to McCain, there IS video of him on the senate floor in '95 warnibng everyone who would listen about Fannie/Freddie

If you can stand long, boring analysis, this article explains why we are WHERE we are today
http://www.heritage.org/Research/Economy/HL516.cfm
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Offline Getback

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #79 on: September 18, 2008, 06:40:40 AM »
Welp, it all makes my 3% savings account look solid.
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Offline Elfie

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #80 on: September 18, 2008, 07:41:28 AM »
  In light of this......


Quote
In fairness to McCain, there IS video of him on the senate floor in '95 warnibng everyone who would listen about Fannie/Freddie

I'm guessing this...isn't so accurate....

Quote
LOL, now McCain today says he supports regulation of the markets.  26 years promoting deregulation, and he changes his position in two days.  Unreal.

Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?

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Offline Nwbie

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #81 on: September 18, 2008, 12:09:04 PM »
Quote from: Elfie on September 18, 2008, 07:41:28 AM
  In light of this......


I'm guessing this...isn't so accurate....

Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?



Yeah - it is quite appropriate to change your mind- for instance -   I told my 6 year old daughter to quit teasing the dog - she gets nervous and might nip at you, but she knew better, it was funny and she benefited from the laughing as the dog barked at her... 2 band aids later - she finally understood..... all it takes is a little warning and reality being forced upon you to change your mind....

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Offline batdog

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #82 on: September 18, 2008, 12:28:36 PM »
The soviets never had this problem damnit.

wtf

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Of course, I only see what he posts here and what he does in the MA.  I know virtually nothing about the man.  I think its important for people to realize that we don't really know squat about each other.... definately not enough to use words like "hate".

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Offline Elfie

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #83 on: September 18, 2008, 12:37:46 PM »
Quote from: batdog on September 18, 2008, 12:28:36 PM
The soviets never had this problem damnit.

wtf



True, they just shot each other, or got their opponents sent to Siberia.  :uhoh

 :D
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Offline MORAY37

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #84 on: September 18, 2008, 01:21:12 PM »
Quote from: Elfie on September 18, 2008, 07:41:28 AM
  In light of this......


I'm guessing this...isn't so accurate....

Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?



I'm guessing you didn't do your homework on McCain if you think my post is inaccurate.  He has tried to deregulate the economy since he took office 26 years ago.
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Offline Bodhi

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #85 on: September 18, 2008, 03:23:15 PM »
I bet Moray is really sour over the fact that the DOW rose a little over 400 pts today...
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Offline straffo

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #86 on: September 18, 2008, 03:43:07 PM »
Quote from: Bodhi on September 18, 2008, 03:23:15 PM
I bet Moray is really sour over the fact that the DOW rose a little over 400 pts today...

and since when a market index is related to reality ?

Especially the Dow witch is dead rotten since the 20's ,SPX or NYA are more accurate.
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Offline Holden McGroin

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #87 on: September 18, 2008, 03:47:05 PM »
Quote from: straffo on September 18, 2008, 03:43:07 PM
and since when a market index is related to reality ?

Then why does this thread exist?
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Offline Bodhi

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #88 on: September 18, 2008, 03:47:25 PM »
Quote from: straffo on September 18, 2008, 03:43:07 PM
and since when a market index is related to reality ?

Especially the Dow witch is dead rotten since the 20's ,SPX or NYA are more accurate.

I'll stick with what was posted in the thread.
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Offline straffo

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Re: McCain Boasts Economy Strong..While Dow and S&P both drop 5%
« Reply #89 on: September 18, 2008, 03:50:08 PM »
let reformulate :

and since when this* market index is related to reality ?



*speaking obviously of the Dow Jones

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