Market meltdown starting....

[woolldog]

DOW down 200 points. Could be worse tomorrow. Maybe this will get the GOPs attention?

[Drale]

1. More of a selfish thing

hopefully the Market drags the price of oil down with it.

[Cirque du So-What]

14. That may hold true for the short term

but most analysts agree that the price of crude oil will rise if the US defaults on its debt.

[bif]

2. I honestly don't think they give a shit

They'd rather the whole country suffer if it means bringing Obama down. All they care about is their party, not the good of the people.

[Wait Wut]

11. Not so sure.

The wealthiest of them don't work, they own stocks. Even if they were "smart" enough to sell before the drop, they'll have nothing to reinvest in. They'll stop making money.

[closeupready]

3. I'm not in the market, so it's not going to have a great impact on me.

nt

[Cali_Democrat]

4. The yield on the 10 year is still under 3%. That's hardly panic territory.

I don't think the market drop in equities is about the debt crisis, yet.

The market drop today had more to do with warnings from companies about a slowdown in consumer demand.

[woolldog]

9. Hard to tell

Yields have been very volatile intra-day. They were up big at the open of the market and then as the selling intensified they came back in. They're being pushed in a lot of different directions at the same time, growth concerns, risk of default, status as flight to quality in a bad market.

But I disagree with you as to the reason for the drop. The market is down about 3% this week. Earnings have been good. When it gets resolved there'll be a big pop.

[Cali_Democrat]

10. So far, future earnings guidance has disappointed compared to previous quarters

for the companies that have reported so far. Their profits have been good, but the future doesn't look as bright when it comes to growth. The equities market is forward looking and is pricing this in.

We may have have seen a peak in the growth rate for corporate profits.

[woolldog]

12. I agree with you on diminished growth prospects,

I just don't think that's been the driver this week, although it's very possible you're right.

GDP figures come out on Friday, I think? so we're down more thurs and fri I suspect. I think we can agree that bad data and prospects combined with the debt ceiling uncertainty = trouble.

[Raven]

5. Yup, predictable. Boehner & friens better break out the Depends rather

than the bottle.

[brewens]

6. I have my 403b funds stashed in a cash fund. I won't get back

into mutual funds untill I do see a big meltdown. I won't say I am hoping for one but I've been convinced the market has been artificially high for almost a year. At this point I wouldn't mind seeing it take a dive, so I can buy back in cheap and ride it back up again.

[leveymg]

7. This is just the tide going out. Tsunami is still over the horizon.

I would start moving to higher ground, though.

[DianaForRussFeingold]

8. That's not good!

Geez...This is unbelievable, I hope they don't want our economy to go... :nuke:

Here's a good video you may have already seen:
Former Clinton Labor Secretary,'Robert Reich' connects the dots on the economy, in less than 2 minutes and 15 seconds.
http://www.youtube.com/watch?v=JTzMqm2TwgE

[Bill219]

13. The Great Boehnercrash of 2011 has begun....