Post by Deleted on Aug 22, 2015 9:53:01 GMT -6
Back in some distant point of history, and in the dim memories I still manage to hold (way way back in 2006/07ish..) /smirk/ ....there was a day I recall like it happened yesterday. While installing the wall TV still in my bedroom now, I had looked at the screen and seen the DOW off for the day at just a hair over -500. I recall remarking on that to my Dad, who was far more aware of markets and their meaning than I was at that point in time. I figured it was merely nifty to see the markets in such chaos......while he turned outright pale and had to take a few moments.
I didn't realize, then, what the meaning of that drop had been. I didn't know..then..I should have been scared, and sad for what it meant was being lost. It wasn't until many years later, I fully appreciated what that moment in time had burned into my memory for something near the 'day' (figuratively anyway) the markets crashed under Bush.
Now?
Source
1,000 points in a week? Hmm... Hopefully next week sees it slow or stabilize where we can call it a correction, not a crash. Then again...I'm sure China thought that about 30-40% of their market value AGO..for what they've recently lost in wealth. Are we next to see 1/3rd or more vanish in perceived value?
Also..recall..this isn't 'just those nasty elites'. You're mother's or grandmother's retirement or pension burns to dust right next to the rich guy's checking account balance. City budgets, largely based on debt markets and bonds...crash and burn right along side Wall street, and while we live in them.
I hope this isn't the start of a second long slide down. We never got near where we were when it began the first time.
I didn't realize, then, what the meaning of that drop had been. I didn't know..then..I should have been scared, and sad for what it meant was being lost. It wasn't until many years later, I fully appreciated what that moment in time had burned into my memory for something near the 'day' (figuratively anyway) the markets crashed under Bush.
Now?
The Dow industrials lost 530.94 points, or 3.1%, to close at 16459.75, putting it in correction territory, as defined by a 10% decline from a recent high. The S&P 500 dropped 64.84 points, or 3.2%, to close at 1970.89. The Nasdaq Composite fell 3.5%, or 171.45 points, to 4706.04.
The Dow’s more than 1,000-point drop this week was the largest weekly drop since the week ended Oct. 10, 2008.
The Dow’s more than 1,000-point drop this week was the largest weekly drop since the week ended Oct. 10, 2008.
1,000 points in a week? Hmm... Hopefully next week sees it slow or stabilize where we can call it a correction, not a crash. Then again...I'm sure China thought that about 30-40% of their market value AGO..for what they've recently lost in wealth. Are we next to see 1/3rd or more vanish in perceived value?
Also..recall..this isn't 'just those nasty elites'. You're mother's or grandmother's retirement or pension burns to dust right next to the rich guy's checking account balance. City budgets, largely based on debt markets and bonds...crash and burn right along side Wall street, and while we live in them.
I hope this isn't the start of a second long slide down. We never got near where we were when it began the first time.
