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Dow sinks another 173, Economy getting much worse, Obama on vacation

Obamanomics! Ain’t it grand, Ma! Jimmy Carter was a failure, Barack Obama is a total failure of epic proportions. Only the stupid will have an opposing opinion.

Socialism doesn’t work. Even if it’s rebranded as Obamunism, and it doesn’t matter if the right people are in charge or not. It always fails, period.

Yeah, I think four more years of this shit is just what the doctor ordered, don’t you?

via CNBC:

Stocks accelerated their selloff to finish near session lows in light, choppy trading Friday as investors were reluctant to remain in the market ahead of a weekend, amid worries over a global recession in addition to the ongoing euro zone jitters.

All three major averages logged their biggest four-week decline since Mar. 2009, with the S&P tumbling almost 16 percent during the period.

The Dow Jones Industrial Average shed 172.93 points, or 1.57 percent, to finish at 10,817.65.[...]

For the week, the Dow plunged 4.01 percent, the S&P dropped 4.69 percent, while the Nasdaq plummeted 6.62 percent.[...]

The dollar, plunged to a record low against the yen and oil settled mixed in volatile trading with U.S. light, sweet crude dipping 12 cents to settle at $82.26 a barrel and London Brent crude gaining $1.63 to finish at $108.62. Gold settled at a record high of $1,852 an ounce.

Worse than Jimmy Carter, he needs to leave.

All said & done, minus 634.76

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P’s downgrade of U.S.’s credit rating last week in addition to ongoing economic jitters.

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index’s biggest point and percent drop since Dec. 1, 2008.

The S&P 500plummeted 79.92 points, or 6.66 percent, to close at 1,119.46, its lowest close since Sept. 10, 2010.

Nasdaq sank 174.72 points, or 6.90 percent, to end at 2,357.69, its lowest close since October 4, 2010. Read the rest

The freefall begins?

Dow plunges; Obama to speak blame Republicans,  Tea Party & Bush

U.S. markets tumbled sharply on Monday morning — the Dow was off 360 points — and President Barack Obama planned to come out of hiding, while on vacation again to speak point and blame congressional Republicans, the Tea Party, former President Bush, global warming, and fast food  publicly this afternoon on the downturn.

The Dow Jones Industrial Average plummeted by 3 percent an hour into trading after S&P announced its downgrading of scores of lenders dependent on U.S. debt, including mortgage giants Freddie Mae and Fannie Mac. It had opened down 240 points — 2.3 percent — in the first few minutes of trading.

The Nasdaq was off 100 points — 4 percent — an hour into trading, while the S&P 500 was off 3.8 percent, 45 points.

The price of gold was trading around a record high of $1,700 an ounce.

original story here