The DOW closed down 125 points today landing at 8,474, while the S&P closed down 20 points at 870.
The data and news is bad and keeps confronting any sense of future optimism about the economy with the harsh reality of facts and numbers.
The most dismal news of the day, the real bummer as it were, was Bush's last ultra BS session with the journalists who cover the White House. Talk about numbers and facts, in Bush's tiny and reference free mind, he's done a swell job, nothing could be further from the truth and reality.
There's good defiance in the face of oppression and then there's just plain old dumb, immature, three year old contrary, and awareness-missing defiance.
Reuters: Stocks fall on Citigroup and profit worries
U.S. stocks tumbled on Monday in the worst two-day slide in more than a month...Reuters: Bankruptcy boom seen in 2009, no sector spared
1 comment:
I love the Corp. euphemism for failure called restructuring. All this means is millions more will be shown the door and thrown on the streets. 2009 is starting to smell already. No matter how bad it gets it's going to be champagne and lobster for the top 10% and not a care in the world. Meetings about all this suffering will be the order of the day. All these people will bring their binoculars so they can watch the ants scurry about under foot trying to live off the few crumbs trickling down from their feasts. Obama will find himself very quickly sealed off from all of this.
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