Your Dow Jones Falls Many Points After Investors Discover Some ‘Recession’ Thing
Monday, December 1st, 2008
The Dow Jones fell 679 points today, since it’s been a full six days since Paulson last introduced a new multi-hundred billion dollar loan or loan guarantee program, and everyone on Wall Street is a child: “The day’s news reminded investors, who last week were buying on a burst of optimism, that the economy is still in serious trouble. And at midday, Wall Street had confirmation of what everyone has suspected for months, that the nation is indeed in a recession.” They just wanted to be sure, for the 80th time, that the economy was indeed contracting, and then it was SELL SELL SELL. MORE »
The Dow Jones fell 679 points today, since it’s been a full six days since Paulson last introduced a new multi-hundred billion dollar loan or loan guarantee program, and everyone on Wall Street is a child: “The day’s news reminded investors, who last week were buying on a burst of optimism, that the economy is still in serious trouble. And at midday, Wall Street had confirmation of what everyone has suspected for months, that the nation is indeed in a recession.” They just wanted to be sure, for the 80th time, that the economy was indeed contracting, and then it was SELL SELL SELL. MORE »









Whoa hey… whoa…
A thing that sucks about our nation’s current financial unpleasantness is that Congress wants to find solutions to it and Congress happens to suck. Other people who suck in this situation include Hank Paulson and “President” George Bush Jr. Barack Obama, too, for throwing himself into this situation that can only end in a sucky outcome. And lest we forget, the American auto industry — known by its appropriately sucky metonym, “Detroit” — sucks. So. Do we give car companies money for sucking or do we let a ton of workers in depressed areas lose their jobs and family health care plans? Oh, the wacky situations America finds itself in after ignoring massive problems for decades.