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Last post 19 years ago by sketcha. 45 replies replies.
THANK YOU MR PRESIDENT
RICKAMAVEN Offline
#1 Posted:
Joined: 10-01-2000
Posts: 33,248
Dow Closes Down 147 to New 2004 Low

NEW YORK (AP) - The Dow Jones industrial average fell to a new 2004 low Friday as investors bailed out of stocks in the wake of a disappointing jobs report and continuing high oil prices. The Nasdaq composite index and Standard & Poor's 500 also created new year-to-date lows for the second straight session.

Payroll figures released early Friday showed employers added just 32,000 jobs last month, data low enough to warrant worries that a slowing in the economy in June may have been more just a brief pause.

Combined with oil prices still hovering near $44 a barrel, investors sold off heavily for a second straight day, worried that inflation and slow job growth would interrupt the economic recovery for a sustained length of time.

According to preliminary calculations, the Dow fell down 147.41, or 1.5 percent, at 9,815.62.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index dropped 16.76, or 1.6 percent, to 1,063.94, and the Nasdaq was down 44.74, or 2.5 percent, at 1,776.89.





Charlie Offline
#2 Posted:
Joined: 06-16-2002
Posts: 39,751
Rickie

Hope you bought before close!!! Will be nice gains next week!

Charlie
JonR Offline
#3 Posted:
Joined: 02-19-2002
Posts: 9,740
Rickamavens version of his infamous, "THE SKY IS FALLING THE SKY IS FALLING", crap.

You been eating too much chicken again Rick?

JonR
Sylance Offline
#4 Posted:
Joined: 06-19-2003
Posts: 592
We need more taxes!! We need more international support!! We need Kerry!! Wait, I don’t know what we need… I keep waiting for Kerry’s answer to all the problems I have, but I never hear them.

On second thought, Kerry keeps telling me I have problems but now that I take a closer look, I’m not sure what he’s talking about.
DrMaddVibe Offline
#5 Posted:
Joined: 10-21-2000
Posts: 55,618
Did I miss the President yelling at Wall Street to "sell,sell,sell!"?

How you can pin a bad day at the stock market on GW is beyond me. If he was doing nothing about the economy (which you should know he has very little to do with anyways!)and we were in the middle of a recession then I'd be right there with you. So far he's not telling us to dial down the thermostats, instituting an odd-even gas buying policy or any other kooky crud.

Smile. Be happy.
Sylance Offline
#6 Posted:
Joined: 06-19-2003
Posts: 592
Heck... Sharon Stone blames Bush for not being allowed to kiss Hally Berry during the disaster of a movie, "Catwoman." It's typical hatred...
428cj Offline
#7 Posted:
Joined: 04-26-2003
Posts: 741
Don't even DARE to ask Rick when the recession and bad economy started. Probably wouldn't remember anyway, have to love selective memory and revisionist history!

Sometimes it's easier to blame those we hate with EVERYTHING, whether it's the intelligent thing to do or not. Again, each to their own.

What do I know though, he's already branded me one of the evil and stupid people who blindly love President Bush (pulled that one out of the air rather nicely I might add). Must have been Fox News that corrupted me? Eh, Rick?!
RICKAMAVEN Offline
#8 Posted:
Joined: 10-01-2000
Posts: 33,248
428cj

please don't tell me you take fox "news" seriously.

perhaps you should spend a few dollers and get a dvd of "outfoxed" to be fair and balanced to yourself.
RICKAMAVEN Offline
#9 Posted:
Joined: 10-01-2000
Posts: 33,248
428cj

i hope i didn't brand you personally. i believe i was talking about the collective group of blind being led by the one eyed man.
428cj Offline
#10 Posted:
Joined: 04-26-2003
Posts: 741
Haha, not to worry Rick. I don't feel I've been personally branded (I can still sit down comfortably anyway).

Since you seem to like throwing out how people of my political affiliation are 'corrupted' by Fox News, or something to that effect, I like to throw it back at opportune times. That's all!
Charlie Offline
#11 Posted:
Joined: 06-16-2002
Posts: 39,751
Rick probably digs on NPR (Liberal enough for him) and hates Fox, since he seems to be extremely to the left of center on most subjects.....go back to hummingbird watching and beanie babies!

Charlie
calavera Offline
#12 Posted:
Joined: 01-26-2002
Posts: 1,868
I got a great raise this year, my job is secure and my investments are stable. I don't see where Bush has done me any wrong. I do remember Clinton trying his damndest to take away my right to bear arms.

J
RICKAMAVEN Offline
#13 Posted:
Joined: 10-01-2000
Posts: 33,248
DrMaddVibe

i believe the market reacted to the 33,000 only jobs created by the adminstration. i guess another tax break is due.
RICKAMAVEN Offline
#14 Posted:
Joined: 10-01-2000
Posts: 33,248
calavera

i thought under his administration a person could bare anything he wanted.
rayder1 Offline
#15 Posted:
Joined: 06-02-2002
Posts: 2,226
"please don't tell me you take fox "news" seriously"

This is from someone who considers the "Globe" to be a credible news source. I think this week features alien hookers...or is that the "Sun"...
RICKAMAVEN Offline
#16 Posted:
Joined: 10-01-2000
Posts: 33,248
rayder1

it's the not the pale moon that excites me.
thrills and delights me
no,no, it's just the nearness of you.
snowwolf777 Offline
#17 Posted:
Joined: 06-03-2000
Posts: 4,082
If I would have sat around and waited for the President of the US - either party - to "create a job" for me, I'd have been in serious financial trouble. I have never gotten a job because of who was in the White House. I have never lost one, either.

The liberals whine and cry about the price of gasoline and how it's ruining our economy. And it certainly is helping to do that. So what's the solution? Go drill in the liberals' precious wildlife areas and take our own oil, or go kick the hell out of some country and take it. Gosh, that won't upset them now, will it?

Oh wait - there is another solution. "The Government" should pay for our gas and our health care and make us a job we want and pay us what we want and fix our car for free and tuck us in at night with a bedtime story.

I'd love to hear how John Kerry is going to fix all this in one week. But he said he's not going to tell us anything that he's going do until he gets into the White House. So there. If you want to know, you'll just have to elect him and be surprised.
mattmelcher Offline
#18 Posted:
Joined: 02-08-2004
Posts: 96
snowwolf is right-presidents do not create jobs. Unfortunately, they get both the credit and the blame.
DrMaddVibe Offline
#19 Posted:
Joined: 10-21-2000
Posts: 55,618
Rick, just what do you think the government's role is?

Where should it start and where should it end? Womb-Tomb? No personal decisions? No personal responsibilites? Banking? Healthcare? Human Resources? Personal Finance?

Seriously. The government is Santa Claus benders are getting old.
DrMaddVibe Offline
#20 Posted:
Joined: 10-21-2000
Posts: 55,618
Rick, just what do you think the government's role is?

Where should it start and where should it end? Womb-Tomb? No personal decisions? No personal responsibilites? Banking? Healthcare? Human Resources? Personal Finance?

Seriously. The government is Santa Claus benders are getting old.
RICKAMAVEN Offline
#21 Posted:
Joined: 10-01-2000
Posts: 33,248
mattmelcher

FDR did and ended the depression. how soon you forget.

our infrastructure is in need of major repairs. why not start another wpa type programs and only hire american citizens. money well spent, and jobs created that pay decent salary.
snowwolf777 Offline
#22 Posted:
Joined: 06-03-2000
Posts: 4,082
If the money were there, they'd give it to private contractors - where it belongs - so they could hire more people, buy equipment, buy materials, and fix more roads. We're a little larger than we were during the Depression. We have considerably more roads and bridges than we had during the Depression. We're at a logjam for repairing the infrastructure. Nobody wants to pay another 50 cents a gallon at the pump so there is more money to fix the roads. So whatever the states can afford is what gets fixed.

Starting a WPA-like program will have the same result. SOMEONE has to pay the wages, the benefits, buy the heavy equipment, and the materials. Approximately $1.5 million per mile for total rebuild, last I read. Someone will also have to deal with the unions, who will cry and bitch because the lower-paid government workers are getting all the construction jobs. Something FDR didn't have to deal with.
DrMaddVibe Offline
#23 Posted:
Joined: 10-21-2000
Posts: 55,618
WWII ended the Great Depression. Maybe we should throw a beating on the Axis of Evil and get the recovery started!

You mentioned more government plans that cost MORE money resulting in MORE taxes!

For the sake of history and for your own research...look up where Clinton shaved off to cause his "surplus"! He decimated the "infrastructure"!
mattmelcher Offline
#24 Posted:
Joined: 02-08-2004
Posts: 96
Rick-

I'm sorry. I thought our entry into World War 2 did more to end the depression than any WPA projects. In essence, wasn't the WPA one giant welfare program? The majority of the country was out of work and instead of just feeding them, they came up with 'jobs' so they could give people money. The government figured they might as well get something for all the money they were spending. So now we have a few state parks and some old bridges to show for it.

I sincerely doubt this crumbling infrastructure claim. Where I live EVERY major road in the city is being rebuilt, including both interstate highways; as well as a new state park being built just a cople of miles away. It all sounds very WPA to me. Of course, next year all those 'jobs' will be gone. What to do then?
RICKAMAVEN Offline
#25 Posted:
Joined: 10-01-2000
Posts: 33,248
snowwolf777

i think the same things were said about fdr's plan.

perhaps we could use some of the money we are pissing away killing people in iraq in a losing cause.

perhaps you have a plan to end the massive unemployment here. i'm open to hear something positive.
RICKAMAVEN Offline
#26 Posted:
Joined: 10-01-2000
Posts: 33,248
DrMaddVibe

i knew it was clinton's fault. is the flu i had a few years ago also clinton's fault? i'll bet he even screwed up my garbage disposal last month when it jammed.
DrMaddVibe Offline
#27 Posted:
Joined: 10-21-2000
Posts: 55,618
Rick, why don't you run into the middle of the street and yell for a government plumber to come over and fix your disposal.

You never answered the question.
DrMaddVibe Offline
#28 Posted:
Joined: 10-21-2000
Posts: 55,618
http://story.news.yahoo.com/news?tmpl=story&cid=535&ncid=535&e=15&u=/ap/20040808/ap_on_re_eu/russia_compensation_law_1

Even they can't afford it!

Scream.
ilovemaui Offline
#29 Posted:
Joined: 10-24-2003
Posts: 48
I've got an idea, let's elect a democrat and raise everyone's taxes especially those who are already having a tough time making ends meet! After all the government knows best. I think we should just give them all our money and let them decide how much we need. And why we're at it let's elect a billionare afterall he must be in touch with the average Joe. NOT
snowwolf777 Offline
#30 Posted:
Joined: 06-03-2000
Posts: 4,082
Yes, Rick, I have a plan. I'm in the trucking industry. Every single carrier in the U.S. is suffering right now from a shortage of drivers. You want job creation? My company has grown by 300 drivers in the past 12 months. We haul for General Motors. You might have heard of them. They had a $1.4 billon profit in the first quarter this year. Because people buy cars, and they always will. A lot of people eat food, too. All of that moves by truck.

We still need more drivers. But we can't get them. You know why? Because a large number of people who go to truck driving school (many on government-sponsored training programs) quit in the first year and go back on welfare or unemployment. Why? Because we use that dirty 4-letter word in our industry: W-O-R-K. I can't tell you how many drivers I see in a year who work long enough to get the lights turned back on and the house payment caught up, and then they quit and go back on unemployment again. Their applications have a decade of driving history for 4 months, 8 months off, 6 months working, 4 months off - on and on. I know a large number of drivers that this is their way of life. But every time they CHOOSE to live like this, they still end up on the unemployment or welfare numbers.

My wife manages a Burger King and she sees the same thing. $10 an hour ain't good enough. They have to work too hard to make that money. So they quit and go back on unemployment or welfare again. They have a want ad 7 days a week, 365 days a year. I guess the President should get off his @ss and "create" high-paying, low effort jobs for all these people, too.

My company hires the year around for driving jobs that pay $650 on the low side to over $1,000 a week once you have some seniority. Union jobs, with benefits. But yes, it is real work.

One of my terminals is in Michael Moore's old back yard - Flint, MI. When Buick City folded, some of the displaced workers took government-paid retraining to learn to drive truck. The vast majority of them went back on welfare and unemployment again, because they didn't make $26 per hour to sit on their @sses and do nothing.

But don't take my word for it - ask JB Hunt or Don Schneider or Moyes over at Swift. Between the three of them they run about 75,000 trucks, and they can't get enough drivers, either.

When my job went away when I was younger, I drove truck for 7 years and made a very good living at it. It wasn't my dream job, but it paid my mortage and took care of my kids. When I grew tired of the road and being gone all the time, I moved into the safety side of the industry and bettered myself. I did that on my own, as opposed to calling the President and demanding he create something for me.

RICKAMAVEN Offline
#31 Posted:
Joined: 10-01-2000
Posts: 33,248
DrMaddVibe

i missed the question.
DrMaddVibe Offline
#32 Posted:
Joined: 10-21-2000
Posts: 55,618
One more time.....

Rick, just what do you think the government's role is?

Where should it start and where should it end? Womb-Tomb? No personal decisions? No personal responsibilites? Banking? Healthcare? Human Resources? Personal Finance?

Seriously. The government is Santa Claus benders are getting old.
DrMaddVibe Offline
#33 Posted:
Joined: 10-21-2000
Posts: 55,618
Well, seeing as how I didn't get a response to my question...I'll have to smack my head on my desk a couple of times, dress up like Santa and use the same convoluted logic that he applies to GW...See the market today? WOW! What a President! Look at him go! How high can the market climb? He's gonna take it there.

Now that that foolishness is over...Rick...you gonna answer or WHAT?
Cavallo Offline
#34 Posted:
Joined: 01-05-2004
Posts: 2,796
maui: careful now -- are you saying we shouldn't elect bush? 'coz he's not exactly a pauper, ya know! ;)
snowwolf777 Offline
#35 Posted:
Joined: 06-03-2000
Posts: 4,082
The two richest candidates in this election - by a longshot - are Kerry and Edwards.

But they're still in touch with "the common man." Feeling their pain. Eating PB&J sandwiches and Wendy's fries on the bus.
Cavallo Offline
#36 Posted:
Joined: 01-05-2004
Posts: 2,796
snowwolf: my brother's been a trucker (hauling fords i believe) for a couple of decades now at least. he made excellent $ doing so, and luckily he didn't suffer from the health problems that many truckers do -- it's rough work just DRIVING a rig. i rode shotgun and worked loading/unloading a rig for a summer; it was one of the most physically demanding jobs i ever had and i've nothing but respect for those who can do it.

however, i do believe that the way the job market as a whole is going is not good. the market varies all over the country, you have to realize. at the same BK restaurants here, a friend of mine can't even get in 10 hours per week -- he's got 2 degrees and can't find work to pay for the student loans now, and he IS one who's willing to "flip burgers" for a living.

so when i think about the job market, i think of people like him -- not the lazy butts who don't want to a job if it means actual work is involved.

i do recognize that there are those people who prefer not working, absolutely. and i absolutely think that america -- or a certain parts of it, generationally -- have a big work ethic problem that needs to be addressed.

fresh out of h.s. at the age of 16, i was able to find a job ALWAYS. i've worked in numerous fields -- some for the experience, some for the enjoyment, some for the pay rate -- and even during economic downturns, i found work: unloading trucks, warehouse work, washing dishes, whatever, until something "better" opened up. i put "better" in quotes, because those blue collar jobs taught me more about a work ethic than any white collar job ever did.

this is a long enough rant, i know. sum it up this way -- i think the govt. has its place in job creation, but it is far from the be-all and end-all solution. people as individuals need to stop trying to live like a pepsi commercial and get on the stick as well.
bloody spaniard Offline
#37 Posted:
Joined: 03-14-2003
Posts: 43,802
Great stories--great passion--great thread.
DrMaddVibe Offline
#38 Posted:
Joined: 10-21-2000
Posts: 55,618
So Rick...are you going to asnswer the question?

You're frothing tirades about mean ol' Mister Bush are about as credible as your reply to the question posed to you 2 times already.
snowwolf777 Offline
#39 Posted:
Joined: 06-03-2000
Posts: 4,082
Cavallo - Appreciate the props on truckers. I did it for 7 years. It was the toughest job I ever had. And I, too, have a college degree. But I did what I had to do to take care of my family. And when I went to bed at night, I felt like I had earned every dime of my money.

Perhaps your friend needs to look at relocation. I did that in order to advance myself and it has worked out fine. Not always possible in every situation, I know. But it is a solution in some cases to position yourself where your talents can earn your bread.

Bloody's right - this has turned into a good thread. Shame we couldn't all be sharing a smoke on a deck somewhere.
sketcha Offline
#40 Posted:
Joined: 03-26-2003
Posts: 3,238
Hey Charlie,

What happened to those big gains? Is NOW the time to buy?

Oh how I wish I would've sold earlier this year. I'd like to think I should hold on for those gains you were so sure about, but I need this money some time.

So when do you think that next big stock boom will be there, E.F.?

LOL
sketcha Offline
#41 Posted:
Joined: 03-26-2003
Posts: 3,238
Hey Charlie,

Another down day, eh. I'm still waiting.

I've lost gobs of money this week alone. I'm sorry, but as my financial advisor, you'll have to go. Now hit the bricks.

LOL { =^ )
sketcha Offline
#42 Posted:
Joined: 03-26-2003
Posts: 3,238
Boy, you were right, Charlie. Dow up 10, Nasdaq up 4 today. Thank God I held on for this huge bounce.

LOL. Sorry. I'm just havin' so much fun. Gotta' do something to keep from crying.
sketcha Offline
#43 Posted:
Joined: 03-26-2003
Posts: 3,238
Sure is quiet.

Yea........ too quiet.
sketcha Offline
#44 Posted:
Joined: 03-26-2003
Posts: 3,238
Well what the hay, why don't I just top this again. { =^ )
eleltea Offline
#45 Posted:
Joined: 03-03-2002
Posts: 4,562
What was this thread about?
Charlie Offline
#46 Posted:
Joined: 06-16-2002
Posts: 39,751
not sure, another of Ricks babble threads, and all of a sudden I am a financial advisor........don't think so!
LOL!

Charlie
sketcha Offline
#47 Posted:
Joined: 03-26-2003
Posts: 3,238
Boy you're not kiddin', there Charlie. LOL

Here's a quote... JIC you missed it...

"Rickie

Hope you bought before close!!! Will be nice gains next week!

Charlie"

I just think the $hit is funny.
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