Market Update: DOW closes under 8300…down 212..


Bad, berry berry bad..Art Cashin was using 8300 as his barometer for a second leg down in a stagflation W shaped recovery this morning….and of course PIMCO’s Bill Gross said consumer behavior has changed for at least a generation and we can expect a new normal GDP of 2.5%, he reiterated this view this morning on CNBC….

DOW closes down 212.51 to 8292.45

S & P down 26 to 897.33 (under 900)

NAS down 49, ouch, to 1796.68

NYSE staying open til 4:15 to process orders held up in computer trouble earlier today….

TOTUS got on tv (shockah right, lol) earlier,  ostensibly to talk about the bad job numbers but really to explain why passing his GINORMOUS ENERGY TAX would somehow help the economy, m’kay….NOT!

Hang on for a bumpy ride…and please call your Critters, or better still go to a local Tea Party, the Critters are home for the Independence Day Weekend, maybe a call to the local office would help them remember what America is all about, and it aint bailouts and taxes…

July 2, 2009. Tags: , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. Comments off.

Glenn Beck Show | Tea Parties | 5-1-09 |

Vodpod videos no longer available.

Part 2

Part 3 after the break


May 1, 2009. Tags: , , , , . Economy, Politics, Popular Culture, TARP, Taxes, Uncategorized. 2 comments.

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