The Listener 2.0

DOW FALLS 778 POINTS, WORST IN HISTORY!!!

By: The Listener

(CNN Money) I find myself blogging everytime I get. The Dow fell 778 points, the worst in stock market history, today after the rejection of the $710 billion bailout proposed by President Bush last week.

Accoriding to CNN Money “The day’s loss knocked out approximately $1.2 trillion in market value, the first post-$1 trillion day ever, according to a drop in the Dow Jones Wilshire 5000, the broadest measure of the stock market.The Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 – the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.”

SO what you’re telling me is…the drop today was bigger than the drop on 9/11? Man this is something else. I don’t have any funny slogans or remarks for this one. We’re in for a dim future in this country. I hope the house goes back to renegotiate something that will work for Americans. The bailout was good but it needed a few more screws to be tightened before it was ready. For example, if the bailout was passed and the economy didn’t improve (gas, housing market etc.) then the nation would be stuck with more debt and citizens would be in twice as much personal debt as they are today…that could only lead to one thing…another great depression (do I hear the rise of another jazz movement???).

Hopefully this will have a positive outcome.  

Listener17@yahoo.com

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September 29, 2008 - Posted by | Uncategorized

1 Comment »

  1. […] The Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 – the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.” …[Continue Reading] […]

    Pingback by Stocks and Bonds » Blog Archive » Dow Falls 778 Points, Worst in History!!! | September 29, 2008 | Reply


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