Sep 17 2008

22.07- Thanks for nothing.

This won’t be the longest or most detailed essay I have ever written because like John McCain and the Republican Party I know nothing at all about economics.

I do know numbers and recognize milestones however and I would be remiss if I let this one pass without remark-

On January 19th 2001, the last trading day before W took office, the Dow Jones Industrial Average closed at 10,587.59.

Today, September 17th 2008, the Dow Jones Industrial Average closed at 10,609.66

That’s a gain of 22.07 points over the 2,798 days (7 years, 7 months, and 29 days) he has been in office.

Thanks for nothing asshole.

16 comments

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  1. Just saying.

  2. in my fuzzy haze of shock doctrine remembrances since 2000, stunned as I was, that within days of Bush taking office the economy went from great to shit. My tinfoil hat firmly in place I keep thinking why does the economy always go to hell when the Republican’s come or go. What is going on is this our Oct surprise? Is this their last scorched earth move as they abscond with their loot. Is this a calculated move or just a natural consequence of capitalism unrestrained with no soul no basis but GREED, right now greed. Don’t know but I do know on one hand I am pissed and on the other I say hoooray let it crash. Whoops there goes my living, there goes my ‘future’ there goes ????? I want to bite the hand that feeds me if it is this one.    

    • dkmich on September 18, 2008 at 01:48
    • #

    the really bad news is being saved until after the election. This administration, it has to be the biggest heist in history.  

  4. Or by Friday at the latest, as there may be a little of the usual bargain-hunting Thursday after Wednesday’s 400-point drop.

    From there on, the Bush regime’s Dow will be in negative territory.  It will remain there, vis-a-vis Clinton’s last day, until Obama takes office and the Democratic Congress passes the first budget since Clinton that makes sense.

    • Valtin on September 18, 2008 at 06:01
    • #

    Those in the know made their money selling short stock in American Airlines, September 11, 2001.

    Just lucky, I guess.

  6. are the order of the day.

  7. wrote this op-ed opposing the repeal of Glass-Steagall in 1987.  Today, it looks prescient:

    Citing the pressures of rigorous worldwide competition in financial services, large American banks are pleading for the repeal of the Glass-Steagall Act, a law that keeps banks out of the more volatile and risky world of securities transactions. Their entreaties should be resisted. The reasons the act was passed are still valid, and it has not interfered with our ability to compete internationally.

    The Glass-Steagall Act of 1933 evolved from the bitter experience of the Depression, when American banking was in shambles. Left free to speculate in the 1920’s, banks naturally looked where profits seemed highest, and were inevitably drawn into risky propositions.

    snip

    The banks’ proposals also defy common sense. Given the chance to speculate, some institutions are going to gamble poorly. This in turn will undermine confidence in the whole banking system.

    http://query.nytimes.com/gst/f…

  8. award for each year in office!

    next time, please don’t hold back, ek, let us know exactly how you feel! 🙂

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