The Dow Jones Industrial Average continued its bearish slide, closing this week at 11,100, near a two-year low, and inching ever downward toward the 10,587 mark where the market stood the day President Bush was inaugurated. For those who are keeping score, that’s a seven and a half year return of 4.8%, or only 0.65% annually.
To put that in perspective, had you invested $10,000 on inauguration day in an index fund that tracked the DJIA, it would be worth $8,568 today in inflation-adjusted 2001 dollars, compared to only $8,175 had you simply stuffed that money in a mattress.
What with no bottom in sight to the housing, banking, automotive and other industries, and one of the largest bank failures in US history making headlines yesterday, that mattress is beginning to look like a pretty savvy investment. Our Republican administration on the other hand… not so much.
Well Krugman is sort of predicting Dow 10,000.
Wow I can’t wait to watch the right wing turds try to spin this.
I made lots of money.
The Dow is an average.
It goes up and down.
Always has.
I made $10,550 last week trading JRCC 3 times.
I have lost $4,880 on Wells Fargo (bot @ $24.22 and it closed at $23).
Rog Rabbit rode BOOM down down down from $43 to $29.42. He made money on NOV (oil service stock).
GBS made money trading JRCC and several others.
Goldy, if you are dumb enough to put whatever scraps you save into a Dow Index Stock…you deserve to be poor.
Let the free market decide. The free market has decided the executives of the bank deserved all the bonuses they
lootedwere rewarded by the “risk-taking”. The free market has now decided the bank should fail.Let the buyer
be screwedbeware.Eh, a good investing strategy will carry the average investor through bad times as well as good. Buy low, sell high. Grandpa’s advice still works.
However, Sen. Schumer is going to get his ass sued for his comments about IndyMac Bank.
http://www.bloomberg.com/apps/.....=worldwide
@2
What is there to spin? It’s a market, prices go up, prices go down. Government should not be involved to try and keep the market always going up, that’s just dumb. As are you.
5 – Sued for telling the truth about a bunch of fly-by-night operators. How REPUBLICAN.
C and del once again miss, or evade the point. It is an average, an INDICATOR. It indicates the general state of a portion of the market. That portion is clearaly sinking. Even during the ’29 depression some made money. The economy was still in the tank.
Thanks for pointing out another reason not to use Index Funds.
Another problem is that the Dow Jones Industrial Average (DJIA), and other stock market indices, change which stocks make up their index. Your Index Fund is then stuck with buying the new stock at a higher price and probably selling the old stock at a discount. Of course, if the DJIA picks the wrong stocks to add to their Index (i.e. replacing slow growth companies with high flying mortgage companies) they can really screw up their long term results.
I made Money during this administration, so the ones that didn’t (Like Goldy who was shitcanned by KIRO 710am), are just pissing in the wind.
Whiners!
I made Money during this administration, so the ones that didn’t (Like Goldy, who was shitcanned by KIRO 710am), are just pissing in the wind.
Whiners!
Mr. Cynical: Please contact the Nobel Prize folks immediately.
So if the New York Jets lead 2-0, then lose 67-2, this is normal. Simple. Only a mere matter of up & down.
How lucky can we get to receiver your vast knowledge?
When you get right down to it, the GOP is about 3 things:
1) Stealing your money
2) Stripping you of your rights
3) Expropriating foreigners’ resources
If CEOS get paid for losing money, workers should get paid for doing no work.
George W. Bush is dedicated to turning America into Bangladesh. He’s succeeding.
Sorry Goldy, but GW Bush isn’t responsibile for your sorry ass getting kicked to the curb by 710KIRO nor your old lady leaving you in the last 7+ years.
While you may find that hard to accept, it is reality.
My Advice? Put you “big girl” panties on and deal with it.
R.I.P. Tony Snow – Gone too soon
@5
Wait, you think Schumer is going to get sued for pointing out that making a home loan to someone WITH OUT them showing proof of income is a bad idea and can lead to your bank going bankrupt?
Really?
Sounds to me like Schumer was doing his job. Schumer didn’t create the liquidity crisis the folks giving out loans to people without the means to pay them back created the liquidity crisis.
@5 “Eh, a good investing strategy will carry the average investor through bad times as well as good. Buy low, sell high. Grandpa’s advice still works.”
This comment is about as intelligent and informative as saying the best way to win a war is by not losing. The devil is always in the details.
@6 Actually, there’s no spin, just historical facts demonstrating that over time Democratic administrations consistently produce better economic results, which is all the evidence any objective person should need that Republican economic ideology doesn’t work in the real world.
In any case, we don’t have a true market economy, and Republicans aren’t about competition or market forces. They’re too busy protecting big business from competition and robbing taxpayers to give more government subsidies to big corporations.
@3 Could you possibly be any more pathetic? Don’t bother, it’s quite obvious that you have a ways to go before you bottom out – probably in November. If you were a stock, I’d short you.
Here is today’s Rasmussen Poll:
Saturday, July 12, 2008
The race for the White House is tied. The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows Barack Obama and John McCain each attract 43% of the vote. When “leaners” are included, Obama holds a statistically insignificant 47% to 46% advantage. Today is the first time that McCain’s support has moved above 45% since Obama clinched the nomination on June 3. It’s also the first time the candidates have been tied since Obama clinched the Democratic nomination.
For most of the past month-and-a-half, Obama has led McCain by approximately five percentage points.
McCain is now viewed favorably by 56% of voters, Obama by 54%. Obama receives unfavorable reviews from 44% of voters while McCain is viewed unfavorably by 41%
If Schumer can be sued, can we sue Greenspan for his testimony before Congress, where he urged people to look to ARM’s for financing home purchases? Can we sue Bush for devaluing the dollar by saying Treasury Bonds are essentially worthless? Or the thousands of other incredibly stupid things he has said since then?
And fuck Tony Snow and every other Iraq war cheerleader from Fox News. He couldn’t even say the truth at the end of his days. A true dead ender that should be in the sixth circle of hell next to Tim Russert.
Ok Russert gets the less circles than Snow. Even I wouldn’t wish an eternity with Snow and Rove(when he gets there) in the sixth circle of hell for Russert.
Today the Chimpanzee blamed Congress for not opening up more areas for oil drilling.
Of course he didn’t mention that 85 percent of the areas that are open for drilling haven’t been drilled.
And he didn’t mention that if everything was opened tomorrow over the objections of REPUBLICANS like Mel Martinez, it’d take at least 7 years for the oil to start flowing.
And he didn’t mention that if all the oil started flowing 7 years from now it would make maybe a 7 cents difference in the price of gas.
Way to go REPUBLICAN Chimp in the White House.
And Obama gonna fix it with tax increases??
What a bunch of ignorant fucking turds.
BusdriverMike (what an honorable profession for a child molester eh?) shows what a hate site Goldy has here with his comments about Snow @ 22 and 23.
You stick to driving buses there Mikey boy, leave the thinking professions to the rest of us.
But, I’m assuming you do it to get close to little kids, you freakin’ pervert.
Capitalism is broken. The DJIA is 30 of the “best” companies in the U.S. and they have failed their stockholders. The S&P, NYSE, NASDAQ are all stumbling lower and lower.
Professional gamblers get better odds in Vegas than stockholders get in the stock market.
I’m not a whiner I’ll keep my pension anyday rather than a 401K and DON’T dare try to convince me that privatizing Social Security is a good idea.
If you’re investing every month, you’ll be rewarded over time. The current bad stock market is a good reason to keep investing.
2cents,
Who’s paying your pension? If it’s a government entity, it might be OK. If it’s a private company, I’d advise you to get an IRA going if you don’t already have one.
@28: “If you’re investing every month, you’ll be rewarded over time.”
Possibly, but not inevitably. That’s a big difference.
22. busdrivermike spews:
“And fuck Tony Snow and every other Iraq war cheerleader from Fox News. He couldn’t even say the truth at the end of his days. A true dead ender that should be in the sixth circle of hell next to Tim Russert.”
Another classy member of Goldy’s Northwest Division of Atheist Lunatic Moonbats.
Congrats Mike on your latest effort of proving what hateful losers you KLOWNS are.
27. 2cents spews:
“Capitalism is broken.
I’m not a whiner I’ll keep my pension anyday rather than a 401K.”
I take it 2cents that you are a government employee….not a risk taker.
You are probably envious of folks who take risks and are successful.
We should ALL work for the guv’mint, huh?
Did you ever think about where the money comes from to pay your salary, benefits, pension, sick leave, vacation pay etc???
I know it’s hard to image that without risk-takers & investors, you might not have the security.
Where did I comdemn risk takers?
Everyone loves big time gamblers in Vegas and them like them even more when they break the bank. However most of them get sent home with only the shirts on their backs.
Day to day trading is idiotic for most shareholders. There are people who study stocks and are skilled at market timing, trading short and options, but that’s suicidal for most people.
As much as we need risktakers we need many people who actually save money conservatively.
Going varmint hunting with my neighbor.
He drives his pick-up thru the cut pastures.
We shoot out right out the side windows.
We have a ice cold 12-pack of Moose Drool between us and handy.
I use a Ruger 10-22 for shots under 100 yds with Remington hollow-points when we shoot out of the pick-up.
PS–
My neighbors idea of fast food is a Pronghorn Antelope.
He’s a hell of a shooter.
Said it helps to consider those varmints a bunch of Liberal F—ers trying to take his land. Think I’ll try that tonite.
Will let you know if it works.
It’s just another of the genius feints of the Bush administration to make blinding success APPEAR to be abject economic failure. You have no idea of the secret information proving the success. So you have no right to an opinion — except for Mr. Cynical.
You can believe a man who calls himself Mr. Cynical!
re 34: Do you wear your cowboy belt buckle on the side so it doesn’t chap your gut? In AZ we call your kind a drugstore cowboy.
I’ve seen guys like you fall flat on their fat, stupid asses when trying to ride a spirited Appy. Leave the real world to us liberals. Your kind has made a big enough mess as it is.
I chuckled when I saw that picture of Karl Rove thumbing his nose at congress like a rotten, stinkin’ little child, remembering your comments years ago that: “Now the grownups are in charge.”
Really?
Take a good look at that clown, Cynical. That’s what you represent to the world — a fat, soft, mean little girly-boy who shrieks when a girl touches him.
Anyone can pull a trigger. That’s a good thing for guys like you to remember when you start in on the veiled threats.
gadfly–
When did I ever say I was a fan of Karl Rove…or Bush for that matter.
I believe in the Iraq surge.
I believe Bush mismanaged much of the war up to that point….especially fiscally.
I’m a Conservative you dumbass.
You are an Atheist Progressive Lunatic Moonbat.
By your comments, you are just one of the KLOWNS!
And of course I’m a drugstore cowboy. So is anyone who wasn’t born & raised on a farm.
So What?
As for being a girly-boy..
Do you work outside all day 7 days a week?
You are one of those week-end Cabella fly fisherman who buys all his stuff out of a catalogue.
What kind of driftboat do you have?
You sound envious of my lifestyle.
I think Cynical may have been the subject of Dave Horsey’s contribution to this week’s Sunday editorial section.