Stock Market August 2, 2011

[Freak Out]

Ha ha....I love it. Gold up almost $25.

[Freak Out]

Look for food prices to jump big after this.

[wist43]

I agree the bill seems to accomplish little; however, the media would have us believe that the fear of government default was holding back the markets. Today shows that was not the case. It was a minor blip on the radar of investors.

I think the lack of consumer spending indicates the economy has not recovered, or is reverting. That and the lack of business/manufacturing growth of any type.

I think you guys are looking at it exactly wrong

Why do you assume that the leaders of the Republicratic Party wanted to "help" the people, and "help" the economy???

I think the debt "deal" accomplished exactly what its authors, and their masters, intended, i.e. more debt and more government control over the private sector and the people themselves.

It's what unconstrained governments do.

Mission accomplished... didn't you see all the clapping and back slapping... wooo hooo!!! PARTY ON BIG GOVERNMENT - PARTY ON!!!!!!!!!!

Washington's new motto

[MJZiggy]

EGADS! -512 is more than I was expecting.

[Harlan Huckleby]

Debt ceiling deal was irrelevant, there was no default, but that was the expected result. Even if it was a larger, more responsible deal, I doubt it would have helped much. The market dropped because the global economy is teetering.

[red]

buy gold folks, time to start burying stuff in the backyard

i'm actually shocked that the market has been doing this well the last few years with the housing and job conditions being so piss poor in this country

[mraynrand]

I think you guys are looking at it exactly wrong

Why do you assume that the leaders of the Republicratic Party wanted to "help" the people, and "help" the economy???

I think the debt "deal" accomplished exactly what its authors, and their masters, intended, i.e. more debt and more government control over the private sector and the people themselves.

It's what unconstrained governments do.

Mission accomplished... didn't you see all the clapping and back slapping... wooo hooo!!! PARTY ON BIG GOVERNMENT - PARTY ON!!!!!!!!!!

Washington's new motto

Two trillion/year in Regulations along Wisty. That's the new uber-rich sticking it to us. By Uber-rich, I mean the hordes of overpaid, overcompensated government workers who are sucking us dry, paid for with our tax dollars. You know, the "middle class."

"He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people"

[mraynrand]

Debt ceiling deal was irrelevant, there was no default, but that was the expected result. Even if it was a larger, more responsible deal, I doubt it would have helped much. The market dropped because the global economy is teetering.

Agree. Plus, some are expecting bad jobs numbers. Recall that Q1 was revised down to 0.4 'growth.' China still chugging along at 9.0%. Guess the commies were right - 'Capitalism' doesn't work.

[SkinBasket]

EGADS! -512 is more than I was expecting.

That's what happens when you get your news from Jon Stewart.

[MJZiggy]

Actually my source is Motley Fool. But I know you'll just believe what you feel like believing anyway.

[retailguy]

EGADS! -512 is more than I was expecting.

Hopefully it changes your mind about this ridiculous debt deal. smoke and mirrors. it don't work no more!

[MJZiggy]

When did I ever say I LIKED the debt deal. NO ONE likes the debt deal. (but I bet if we'd added a revenue increase the market would look much nicer right now...) This is sounding too much like FYI for the Romper Room.

[Freak Out]

Today's fall had more to do with the global economy than the so called debt deal. Europe is in crisis, war and rebellion throughout the middles east....none of this is surprising.

[Joemailman]

http://nymag.com/daily/intel/2011/08...ooking_re.html

Theory 4) The Smurfs are to blame. Ever since Papa Smurf rang the opening NYSE bell on July 29, the Dow Jones Index has lost more than 1,000 points. Where's Gargamel when you need him?

[Patler]

EGADS! -512 is more than I was expecting.

Turned out OK for me. I sold everything I owned (except APPL) on Tuesday, Wednesday and early this morning. After selling about 1/3 of all (except AAPL) on Tuesday, I put it all into a 3x reverse small cap ETF. It's up nearly 20% from my purchase price. I would have been much better off if I had sold it all on Tuesday, but at least the ETF covered the losses from yesterday and today, so I am where I was on Tuesday. If things continue down, I should make some money on the decline.

AAPL might go tomorrow.