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Puck
The Texan
Joined: 05 Jan 2004
Posts: 5596
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 Tue Feb 27, 2007 9:03 pm World Stocks Fall - Dow Down 416 Points |
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| Quote: | NEW YORK (AP) -- Stocks had their worst day since the Sept. 11, 2001, terrorist attacks Tuesday, briefly hurtling the Dow Jones industrials down more than 500 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.
The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets that had not been shaken by such a volatile day of trading in several years.
A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in, and also as a computer glitch caused a delay in the recording of a large number of trades. |
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WeAz
Commodore
Joined: 03 Apr 2004
Posts: 1519
Location: Where you aren't
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| Tue Feb 27, 2007 11:37 pm |
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So much for Bush's strong economy.
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Republican_Man
STV's Premier Conservative
Joined: 26 Mar 2004
Posts: 14823
Location: Classified
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| Tue Feb 27, 2007 11:52 pm |
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| WeAz wrote: | | So much for Bush's strong economy. |
Read the headline Puck posted much? There's a key word there: "world." We now live in a globalized economy, and this is an issue of the global economy, not just the US economy. The US economy is still strong.
-------signature-------
"Rights are only as good as the willingness of some to exercise responsibility for those rights- Fmr. Colorado Senate Pres. John Andrews
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jonathan95
Delta Prime
Joined: 29 Oct 2002
Posts: 1544
Location: UK Newcastle
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| Wed Feb 28, 2007 5:09 am |
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though I hope that this improves I always hope for a bad $ against the � makes my life cheaper.
We dont need a depression stage where a loaf of bread costs ������������������� or what ever your curancy I dont want to have to take a wheel barrow to the shop for some milk.
lets hope this stablizes again
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PrankishSmart
Rear Admiral
Joined: 29 Apr 2002
Posts: 4779
Location: Hobart, Australia.
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| Wed Feb 28, 2007 6:18 am |
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It is world too. Australia stock exchange is down too as everywhere else.
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Puck
The Texan
Joined: 05 Jan 2004
Posts: 5596
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| Wed Feb 28, 2007 2:52 pm |
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Alot of people think that this is just a correction. Since the market has gone something like 22 consecutive quarters of growth (under Bush) one day isn't going to make or break any of that.
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WeAz
Commodore
Joined: 03 Apr 2004
Posts: 1519
Location: Where you aren't
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| Wed Feb 28, 2007 5:59 pm |
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One day of bad stocks caused the depression.
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Puck
The Texan
Joined: 05 Jan 2004
Posts: 5596
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| Wed Feb 28, 2007 6:58 pm |
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The Great Depression was due to the mounting years of individuals and businesses going into debt, and the failure of banks across the United States. Luckily we have advanced in both areas to where it is a virtual impossibility that you will not get the money you have in a bank back out whenever you choose. Also, companies are held to higher standards of responsibility by the government and shareholders.
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