Deseret News | Dow finishes below 10,000 for first time since '04

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Dow finishes below 10,000 for first time since '04

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Observer | 5:32 p.m. Oct. 6, 2008

Here's a preview of this week's debates. Question. What are your economic plans. Obama explains explicitly what his plans are. McCain:"Vote for me, I'm a maverick. I'll do all that maverick stuff to fix Washington. He, he, he."

RE: Observer | 5:42 p.m. Oct. 6, 2008

I don't get how you are connecting all the the issues that you are listing. When you can explain all those issues,I will be willing to listen. Don't tell me about the polls, because I do agree with the politicians on one point, Americans are stupid. We have proven that by electing them. Explain the real issues in a logical manner.

Observer | 6:01 p.m. Oct. 6, 2008

The Dow down almost 5000 from it's high in a matter of months. People close to retirement losing a third of their wealth. Children living under the poverty level increasing every year. Disparity in income growing every year. Unemployment growing. People without health care growing. An unending, unnecessary war in Iraq that costs $10 billion per month, tax cuts for the very wealthy, tax breaks for big oil, a government for big business, spying on American citizens, torture, US relations with allies at an all time low, financial crisis. All the result of 8 years of Republican rule. Time for a real change. Obama/Biden 08.

Comments continue below

the ship is sinking | 7:16 p.m. Oct. 6, 2008

and all i hear from me-caine company is rhetoric like the one eight years ago...so hand him a cane as he is going to need it as the rats(ceos) are even jumping ship but with somehthing like 300 million and if that gop guy didn't let the rich get richer then who the heck did..the buck didn't stop here for sure!!

So What? | 7:30 p.m. Oct. 6, 2008

So what if SARAH PALIN hangs out with people who practice WITCHCRAFT!

So what if SARAH PALIN and her husband hang out with people who want ALASKA TO LEAVE THE UNION!

So what if SARAH PALIN REDISTRIBUTES WEALTH by practicing her own form of SOCIALISM in Alaska!

All of this "pales in" comparision to the slaughter of OUR 401 K's.

REPUBLICANS are glad that JOHN McCAIN and SARAH PALIN are turning the page on OUR ECONOMIC WOES.

I wish I could do the same!

Anonymous | 7:41 p.m. Oct. 6, 2008

Oil dropped to $88.

Re: Observer | 7:51 p.m. Oct. 6, 2008

It HAS been explained to you and you refuse to listen.

Four of the Keating Five were Democrats.

Chris Dodd and Barney Frank oversee the Senate and House Finance (Banking) Committees - they've lied to us for two years about the state of the banking industry. They have been part of the deregulation you are complaining about.

The "tax cuts" for the rich and corporations were not tax cuts, they were rollbacks to the pre-Clinton years. If I pay you $100 and you give me back $5, you've not given me anything - you've only taken less.

Trickle down DOES work - it's called capitalism. Socialism is the great failure. Name me one time and place socialism has ever worked. You cannot because it does not exist. Why on earth would I take risks and work hard just to get taxed to where I take home the same as the lazy and unambitious? You sew what you reap.

Unnecessary war? Who knows? Sadam kept snubbing the UN resolutions and would not allow inspectors. We called his bluff. Meanwhile, Clinton was offered bin Laden's head on a platter and he turned it down.

Bush disaster | 8:26 p.m. Oct. 6, 2008

is there no end to the punishment this country must suffer for electing george bush? my 401k went down 8% just in 7 days, 18% year to date. my wife's teachers 403b plan went down 12%.

there is no way i'm voting republican, this is too nuts

The truth | 9:31 p.m. Oct. 6, 2008

Clinton signed the deregulation - in fact, he requested it so that Fannie Mae could have more opportunity to give mortgages to low income applicants. The entire reason for FNMA (known as Fannie Mae) was to bring the American Dream of home ownership to every person - regardless of income. Barney Frank - the gay-democrat representative was living with a member of FNMA management (as lovers) and he also happened to head up the committee that provided oversight and who pushed through deregulation. No doubt, there was a conflict in that representation. To add insult to injury, tighter regs on FNMA were suggested in 2005 and beat down again - once again, Barney Frank was on the committee that provided oversight. In 2006, it was brought up again - in fact, President Bush suggested in 2001 and again in '04 to get things in line and in '06, McCain was a sponsor of a bill that would tighten up regulation - and guess what - it was voted down by the democrats. They are afraid that lower economic Americans won't get to own a home. Let's face it - a free handout is NEVER FREE!! Pride, Entitlement, arrogance.

Voice of Calm | 9:37 p.m. Oct. 6, 2008

Take a chill pill, everyone. Think of what stock represents, and let's pay a little more attention to fundamentals. Honestly, I would be afraid to go on a camping trip or a boat ride with some of you, the way you seem to be panicking.

We ought all to have enough in reserve to last a few months even if we lost our jobs, but the fact is that most of us will continue to draw wages from companies that will continue to produce products and services to sell to people who will continue to want to buy them.

And we can extend a hand (with no finger-wagging) to friends and relatives who do not have reserves at present - there will be time later on for Monday-morning quarterbacking.

Why do tragedies and catastrophes happen? To give us a chance to show our true colors, to give us a chance to serve each other, to let us show charity. We will come through just fine if we don't panic and don't forget our core principles.

Duty, honor, country, faith, hope, charity, brotherhood, far-sightedness, forgiveness, sharing, encouraging, chocolate, sugar, butter, tamales on Tuesday, mountain-biking, skiing, long walks, UEA weekend, David Archuleta...

Does it matter? | 10:56 p.m. Oct. 6, 2008

So things aren't looking their greatest. Does it matter? There are somethings we just can't control. But there are some that we can. We need to take control of things, we can start a food storage, for 'just in case'. Be prepared for what may come. Weigh things out. Who do we really want to run this country? Someone who isn't part of America? Someone who doesn't salute the AMERICAN FLAG?!?!? Come on! Sometimes we must choose the greater of two evils.

Find a way to prepare yourselves for the 'just in case'.

A Food storage probably would be a good place to start. Along with NOT FREAKING OUT about things.

Probably getting out of debt as much as possible is another thing. That way you are your own person and no one owns you!

I know for myself these things are important and they probably will be what keeps my husband, my family, my friends and I afloat in the hard times that may come. I would advise everyone to do the same.

We are free to choose! That is why we are AMERICANS! It is a great blessing we have as long as we make good choices.

DD | 11:55 p.m. Oct. 6, 2008

I heard pundits criticize the House for failing to pass the bailout bill last Monday and the loss of 1.2 Trillion in the market. It appears the market didn't want this bailout after all.

I hope voters remember "Bailout Bob" in 2010.

We are so stupid! | 12:05 a.m. Oct. 7, 2008

While half of Utah earns less than $10.00 per hour, the captain of Lehman Brothers walked away with $485 million while they were going broke.

So if you let the "free" market do anything it wants- this is what we will get!

Re observer- McCain's election chairperson was on the board of an agency dedicated to keeping Congressional action against Fannie from happening. He made 1.8 million dollars in 5 years for this work.

Is this the party closest to free agency/market and self-reliance you are referring to? Can't be the neocon Republicans and golly gee Palin! They love government intervention as long as it favors the rich- don't you get it. No regulations will always favor the rich and powerful, not you.

McLame | 12:10 a.m. Oct. 7, 2008

I'm concerned that the new president won't be equal to the task. I doubt the economy is understood by anyone. I can't wait to see that false smile on McCain's face when he loses.

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