U.S. stocks slide as uncertainty mounts (longest losing streak in 34 months)

[Roland99]

Source: MarketWatch

U.S. stocks slide as uncertainty mounts
Dow industrials extends declines into an eighth session

U.S. stocks fell hard Tuesday, prolonging an already lengthy losing streak, with Wall Street on uncertain footing about deficit moves ahead and a likely stall in the recovery.

The just-ended battle over hiking the U.S. debt ceiling means the government avoided default, but also rattled investors, with two of the three benchmark indexes poised for their longest losing stretch since October 2008.

...

A down finish would also mark the longest losing stretch for the S&P 500 since October 2008.

“Other than October 2008, the S&P 500 did not fall seven sessions in a row in all of the 2000s,” noted Dan Greenhaus, chief global strategist at BTIG LLC.

Read more: http://www.marketwatch.com/story/us-stocks-lower-on-economic-growth-concerns-2011-08-02?dist=afterbell

[DJ13]

1. Its almost funny

The elites who are most dependent on investment income were the people who pushed conservatives into a no tax increase position in the debt ceiling debate, and by winning they have pushed cuts in social programs that will curtail consumer spending, which curtails the profits of their own investments, which turns around and bites them in the ass so they'll end up with even less money than they would have had if they had just paid higher taxes.

[dixiegrrrrl]

2. OR...........

all this propping up the market with computer trades and fake valuations simply became too much to maintain.

How could ANYONE seriously think we had a 12000 DOW in the teeth of a depression?

And gold just jumped 37.00 more.

[ixion]

9. Exactly. That number is indicative of the amount of corruption in the market

rather than market value itself.

[blank space]

10. Because you don't get it -

these major US Corporations are not selling to Americans, they are selling to Asians - America is very, very wealthy at the corporate level, but simply broke at the middle class level. China already has more middle class consumers than America, then add Taiwan, Japan, Korea, Indonesia, Singapore, Malaysia, Philippines, Australia, India, etc, etc, etc - your consumers mean absolutely NOTHING to the corporate giants.


These guys are not waging a war - they have finished, they are packing up and leaving, the job is done. They are internationalising not just their operations, that was done years ago, nor their manufacturing, decades ago, now they are moving their headquarters and staff over seas.

The only remnant of American corporations left in the US are the lobbyists and politicians still fighting for them, and the taxation base. The taxation base has almost completely gone and will be gone in a less than a decade - all that is left will be the impoverished middle class who had their entire wealth stolen from them by the capitalist / corporate class, the religious nutters, broken humiliated military.


Get a grip people - this war is completely over, you didn't even show up. What is happening now is tying up loose ends.

[TwilightGardener]

3. GOP mission accomplished.

[Pale Blue Dot]

4. With help.

[Tansy_Gold]

5. Since Oct 2008? Hmmmm, I wonder if anything significant

happened in November 2008. . . . . . . . . .


Just sayin'.




TG

[jsamuel]

8. we started loosing 300,000+ jobs a month?

I don't think that will happen here, but a lot of bad things happened around then dealing with the economy.

[Fuddnik]

6. But there is certainty.

I'm pretty certain we're fucked.

And the market certainly doesn't like what it sees.

They're pulling hundreds of billions out of the economy. That should really make things take off. Reality sucks.

[raouldukelives]

7. Nice to hear some good news today. nt