Stock market now lowest since Oct. 1996

[○∙◄☻¥tπ[╪AV┼cVê└]

This is the S&P 500

Close today: 700.82
Low today: 699.70

Down 55% from the highs of Oct. 2007.

Last lower low: 696.22 on Oct. 29, 1996
Last lower close: 697.26 on Oct. 28, 1996

What was going on then.

Clinton was running for re-election. He win by a decent margin the next week.
OJ's civil trial had just started.
FauxNews had launched earlier in the month.
The Freedom of Information Act had been signed by Clinton earlier in the month.
Clinton had signed welfare reform in August.
The first free version of Internet Explorer was released in August.
MSNBC was launched in July.

[Tender Branson]

Obviously, the market has absolutely no confidence with Democrat Presidents.

[All life is a blur of Republicans and meat.]

Obviously, the market has absolutely no confidence with Democrat Presidents.

Yeah, this is all Obama's fault. It's not the result of years worth of Republican economic policies or anything.

[Tender Branson]

Obviously, the market has absolutely no confidence with Democrat Presidents.

Yeah, this is all Obama's fault. It's not the result of years worth of Republican economic policies or anything.

Well, it certainly will become his fault if he continues to implement the same failed policies.  And by 'failed policies' I don't mean tax cuts to the 'rich'.

[Gustaf]

Isn't that the time when Alan Greenspan called the stock market levels "irrational exuberance"?

[Sam Spade]

Isn't that the time when Alan Greenspan called the stock market levels "irrational exuberance"?

Good call.  I believe it was December of that year.  He was a little late, however.

[○∙◄☻¥tπ[╪AV┼cVê└]

Close today: 696.33
Low today: 692.30

Last lower close: 694.61 on Oct. 10, 1996
Last lower low:    691.78 on Oct. 3, 1996

The last day that the market was lower than its low today, the market had opened at a record high of 694.01.

[○∙◄☻¥tπ[╪AV┼cVê└]

More record lows today.

Close today 682.55
Low today 677.93

Last lower close Sept 18 1996: 681.47
Last lower low Sept 13 1996: 671.15

[Storebought]

President Barack Obama now has the distinction of presiding over his own bear market.

The Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge has lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday.

More than $1.6 trillion has been erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced investors the recession is getting worse. The president is in danger of breaking a pattern in which the Dow rallied 9.8 percent on average in the 12 months after a Democrat captured the White House, according to data compiled by Bloomberg.

[Democratic Hawk]

Of course, all the causation predates this president

Dave

[Ghyl Tarvoke]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

[So the Heroes Fall]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

Yeah, Ralph Nader should be running the economy!

[Ghyl Tarvoke]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

Yeah, Ralph Nader should be running the economy!

Yeah, people putting words in my mouth and thinking in silly binary either/or reasoning!

[So the Heroes Fall]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

Yeah, Ralph Nader should be running the economy!

Yeah, people putting words in my mouth and thinking in silly binary either/or reasoning!

Well you've said out of Gore, Bush and Nader, Nader is the best choice to be President and you didn't support Kerry or Obama either...

[Ghyl Tarvoke]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

Yeah, Ralph Nader should be running the economy!

Yeah, people putting words in my mouth and thinking in silly binary either/or reasoning!

Well you've said out of Gore, Bush and Nader, Nader is the best choice to be President and you didn't support Kerry or Obama either...

And pray tell me, what does this fact have to do with anything in this thread?

[So the Heroes Fall]

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

Yeah, Ralph Nader should be running the economy!

Yeah, people putting words in my mouth and thinking in silly binary either/or reasoning!

Well you've said out of Gore, Bush and Nader, Nader is the best choice to be President and you didn't support Kerry or Obama either...

And pray tell me, what does this fact have to do with anything in this thread?

Of course putting the trust of the world economy in the hands of the type of people who work on wall street and the goverment of the United States is also, I find, not a very good idea.

So basically we should put it in Ralph Nader's hands instead. Yeah, that's not worrying at all!

[??????????]

Obama is a fool who has no idea what to do or what's going on. Change we can believe in! Yes we can! Yes we can!

[Ghyl Tarvoke]

Way to fail to read, BRTD.

Amounts of time I have mentioned Nader in this thread = zero. I gave no advice on what to do regarding this mess, only that our ideas about how to solve it are self-defeating and essentially conservative (that's not necessarily bad btw).

[Judäischen Volksfront]

Obama is a fool who has no idea what to do or what's going on. Change we can believe in! Yes we can! Yes we can!

My guess is that the Dow will be about 3000, if McCain were in the White House again.

He promised to veto every beer, which is cute, though.

[opebo]

Obama is a fool who has no idea what to do or what's going on.

Perhaps, but what does this have to do with the stock market or the depression?

[Marokai]

Obama is a fool who has no idea what to do or what's going on. Change we can believe in! Yes we can! Yes we can!

My guess is that the Dow will be about 3000, if McCain were in the White House again.

He promised to veto every beer, which is cute, though.

Are you saying you don't trust plans to massively cut taxes and freeze all but defense spending? How silly!

[J. J.]

Obama is a fool who has no idea what to do or what's going on. Change we can believe in! Yes we can! Yes we can!

My guess is that the Dow will be about 3000, if McCain were in the White House again.

He promised to veto every beer, which is cute, though.

He might have stabilized things, but no improvement over last fall.  The question is, will Obama make things worse?  It is too early to tell.

[Gustaf]

A note: the stock market tends to reflect expectations of future cash-flows so it should, at least in theory, be a lot less sensitive to time-lags. While Obama can't be blamed for most other indicators getting worse the stock market is arguably somewhat about what he's done or promised to do.

[Gravis Marketing]

A note: the stock market tends to reflect expectations of future cash-flows so it should, at least in theory, be a lot less sensitive to time-lags. While Obama can't be blamed for most other indicators getting worse the stock market is arguably somewhat about what he's done or promised to do.

What might he have done or promised to do that would have averted the realization of massive losses at blue-chip companies and banks?

[Zarn]

Obama is a fool who has no idea what to do or what's going on. Change we can believe in! Yes we can! Yes we can!

My guess is that the Dow will be about 3000, if McCain were in the White House again.

He promised to veto every beer, which is cute, though.

My guess is that you haven't been paying attention to the DOW, and what the investors are saying. No, they are not asking for bailouts.