Major Stock Market Indexes Fall to 1997 Levels

Discussion in 'News / Current Events' started by carpro, Feb 23, 2009.

  1. carpro

    carpro
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    http://www.cnsnews.com/public/content/article.aspx?RsrcID=43983

    Major Stock Market Indexes Fall to 1997 Levels
    Monday, February 23, 2009
    By Sara Lepro, Associated Press

    New York (AP) - The major market indexes have staggered to their lowest levels in a decade, pulled lower by investors rapidly waning confidence.

    The Standard & Poor's 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average, down about 215 points, reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.
     
  2. Palatka51

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    Very soon we all will wake up to a loaf of bread costing us $20.00. [​IMG]
     
  3. targus

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    Optimist...

    At the rate that the gubermint is printing money you'll need a wheelbarrow of money to buy that loaf of bread.
     
  4. Palatka51

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    I agree. I just didn't want to be labeled an alarmist. [​IMG]
     
  5. KenH

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    The tumbling stock markets are a sign that deflation is the big danger for the moment, not inflation. If we fall into a deflationary spiral it will take at least a decade to recover from it. Inflation is bad but deflation is much, much worse. The inflationary years following the Vietnam War were way easier to endure and recover from than the deflation that started in 1929.
     
  6. rbell

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    Oh, we'll solve the deflation issue, quickly.

    We'll just print a trillion dollars, or more.
     
  7. billwald

    billwald
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    Market needs to fall until the median price earnings ratio is 30 to one or less.
     
  8. carpro

    carpro
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    Investors...the people that create jobs not paid for by tax dollars, are not impressed by Obama's monster deficit spending that does nothing to stimulate the economy.

    He's going to drive this country right into a depression and they're not going to risk their money in that kind of climate.
     
  9. carpro

    carpro
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    You really just don't have a clue.

    So entranced by your new political messiah that you are totally blinded to reality.
     
  10. Crabtownboy

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    Perhaps you didn't notice, but the downward direction of this battleship, i.e. the economy/stock market, started with the previous administration. You can't stop or turn a battleship quickly. It takes time and a lot of space.

    We still have a ways to go before hitting resistance, and that may simply cause a pause before heading on down. Time will tell. Keep tuned.

    Also perhaps you didn't notice the market went UP today. But I wouldn't buy yet, at least not heavily. Have you noticed that IAG has gone straight up from about $3.00 to $8.00 a share. There are always buys in a market, even in the worst market. But be careful!


    Deflation is always a problem when it raises its ugly head.


    Have a blessed day.
     
    #10 Crabtownboy, Feb 24, 2009
    Last edited by a moderator: Feb 24, 2009
  11. KenH

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    Hardly anyone recognizes that, Crabtownboy because its been 70 years since we had a severe round of deflation. So many people are so concerned about possible inflation down the road that don't see that they could be clobbered by massive deflation before this year is finished.
     
  12. carpro

    carpro
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    Deflation and inflation are two sides of the same coin.

    Choosing one instead of the other, in your case, is merely a matter of political ideology.
     
  13. billwald

    billwald
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    Explain why the dollar is stronger than the eu or pound?
     
  14. LeBuick

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    Careful, Rev Mitchell would accuse you of hyperbole if you keep talking down the economy.
     
  15. LeBuick

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    You guys sure got me scratching my head, I just read a thread where folks condemned Obama for being honest about the economy then I come here to see folks who agree it is bad. I sure wish you guys could decide if times are good...
     

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