Reader comments: Worries over economy spread; global markets sink
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Media not helping | 9:10 a.m. Oct. 16, 2008
Fear sells! The media knows this. Over the past year and a half, I've watched and listened as they've scared everyone to death. A little bit of truth, mixed with a lotta hype and look what we have!
Now the talking heads on the liberal talk shows are saying the Dow really ought to be around 6,500. Based on what? No matter, we're on our way there!
This kind of talk is treasonous in my opinion. Cheering on a downward spiral because you think it will get your candidate elected or that the country will run scared into the waiting arms of Socialism is downright wrong.
Stop the scare tactics! There are plenty of great companies out there whose stock is going down the tubes because of a small minority of greedy banks who lent money to the irresponsible and all of those glorified "house flippers" we saw on TV.
The rest of us have played by the rules, paid our bills and taxes on time, invested our hard-earned money and DESERVE BETTER!!
Now the talking heads on the liberal talk shows are saying the Dow really ought to be around 6,500. Based on what? No matter, we're on our way there!
This kind of talk is treasonous in my opinion. Cheering on a downward spiral because you think it will get your candidate elected or that the country will run scared into the waiting arms of Socialism is downright wrong.
Stop the scare tactics! There are plenty of great companies out there whose stock is going down the tubes because of a small minority of greedy banks who lent money to the irresponsible and all of those glorified "house flippers" we saw on TV.
The rest of us have played by the rules, paid our bills and taxes on time, invested our hard-earned money and DESERVE BETTER!!
Media driving economy | 10:16 a.m. Oct. 16, 2008
Bad news sells newspapers, and people watch the evening news to see how their stocks are doing. The new outlets love this bad economy, and the entire media across the US is in the drivers seat. If the media would paint just even a slightly better picture, they could turn this economy around.
Comments continue below
re: ed | 10:37 a.m. Oct. 16, 2008
I don't know about that. Haven't you noticed how the prices of EVERYTHING are higher than they were a year ago? Everything from gas to tuition. Grocery prices are up 7 percent they say since April and yeah i have noticed. I don't know where you shop but please do tell. Cause it's hard to get by on 800 dollars a month when you're married and going to school full time.
interesting | 11:37 a.m. Oct. 16, 2008
to: Media not helping | 9:10 a.m.
So now acknowledging that the economic bubble was unsustainable and there is fallout because of it's inevitable collapse is treason? Put on the rose colored glasses and sing a happy tune or go to the wall? Wow...
A Faith Based Economy .....OR ELSE! Amazing!
So now acknowledging that the economic bubble was unsustainable and there is fallout because of it's inevitable collapse is treason? Put on the rose colored glasses and sing a happy tune or go to the wall? Wow...
A Faith Based Economy .....OR ELSE! Amazing!
Re: interesting | 12:05 p.m. Oct. 16, 2008
No doubt there was a bubble, just like the "dot com" bubble that Mr. Clinton enjoyed throughout his second term. Then it burst just in time. Amazing! All of the stories of mass layoffs (Eastman was the big one I remember) were buried on page A21 and dismissed a "just a bump in the road."
Meanwhile, the media starting prediction a recession in early 2007 and by darn, that resilient economy hung in there a while. Predicting $4 a gallon gas 6 months in advance only helped to drive that price up and, guess what? Gas was $4 a gallon! No reason for it to be there other than feeding the fire for the speculators.
Now, today I read the headline "Stocks Plunge Again." What? They were down 25 points. That's a plunge?
Yes, I'd call trying to scare people into a panic treason. What word would you use?
Meanwhile, the media starting prediction a recession in early 2007 and by darn, that resilient economy hung in there a while. Predicting $4 a gallon gas 6 months in advance only helped to drive that price up and, guess what? Gas was $4 a gallon! No reason for it to be there other than feeding the fire for the speculators.
Now, today I read the headline "Stocks Plunge Again." What? They were down 25 points. That's a plunge?
Yes, I'd call trying to scare people into a panic treason. What word would you use?
interesting | 12:29 p.m. Oct. 16, 2008
to: Re: interesting | 12:05 p.m.
I wouldn't call them traitors, genius.
I'd call them "correct".
I wouldn't call them traitors, genius.
I'd call them "correct".
CiCi | 1:55 p.m. Oct. 16, 2008
I haven't seen any opportunities to loan at reasonable costs afforded by that free taxpayer money. Although the Fed's cut interest rates 1/2 percent and more money was guaranteed for the loan companies and banking (via the taxpayer and the pres.) all I've seen in the last 30 days are higher interest rates on new mortgage loans. I guess they will take advantage of the poor cash strapped and house poor people first before we see more reasonable and inticing to the rest of us, interest rates! Yeah that will jump start the economy. LOL
Lew Jeppson | 2:11 p.m. Oct. 16, 2008
While I'm sweating this out with the rest of you, I can't help but wonder (politcal hack that I am) how bad things have to get before Utah elects Democrats out of Davis and Utah counties and before KSL radio dumps Sean Hannity. Pretty bad I expect, but stay tuned as they say.
Crash of 1929 | 2:18 p.m. Oct. 16, 2008
I read on Yahoo news a while ago that all we need is a drop in the DOW of another 26% and we'll be where we were when it all came tumbling down in 1929. Does anyone know how many points equates to a 26% drop?
Gloom and Doom | 2:21 p.m. Oct. 16, 2008
Everywhere you turn - gloom and doom. Dark clouds everywhere. Layoffs, recession, slowdown, stagnation, depression, etc.... Geezzz, can we think of any more adjectives of gloom to focus on??? I learned a long time ago that things are never as good or bad as they are painted to be but lie somewhere in between. Time to start listening to those who have some sense of optimism instead of all the prophets of doom standing on the street corners.
Re: Lew Jeppson | 3:45 p.m. Oct. 16, 2008
Why would we elect democrats when they are the ones most responsible for this mess? Bill Clinton and Obama are the ones who forced banks to lend to people who couldn't afford a mortgage. Obama and his buddies in Acorn bullied banks into lending to people who where not qualified. Obama loves affirmative action lending. So you want me to vote for democrats? Crazy.
Obama | 3:52 p.m. Oct. 16, 2008
While serving as a lawyer for ACORN Obama sued Citibank forcing them to make loans to low income borrowers. That's just the tip of the iceberg. This problem has nothing to do with George Bush contrary to opinion of the uneducated masses.
Lew Jeppson | 4:29 p.m. Oct. 16, 2008
You'll vote for Democrats because of the two major parties they are the only ones who will corral the cowboy capitalism which created this mess, and because they are the only party with a track record dealing with economic catastrophe. My grandfather Evan Jones was elected in 1934 out of very conservative Emery County because the electorate was sufficiently desperate - like you're gonna be.
To Interesting | 5:00 p.m. Oct. 16, 2008
I didn't call them traitors, you did.
Calling them correct is giving them too much credit. They are exaggerating in order to sell more news. Some people believe everything they see,hear and read on the news and panic.
Calling them correct is giving them too much credit. They are exaggerating in order to sell more news. Some people believe everything they see,hear and read on the news and panic.
To: Lew Jeppson | 5:08 p.m. Oct. 16, 2008
From the tone of your comments, you're not "sweating it out with the rest of us." People like you are secretly cheering for the downturn to continue so you can get your man Obama in there. The worse it gets, the better your chances and you know it.
Well, you'll probably get your way. And when you do, I hope you will be better winners than you were losers these past 8 years. I swear, it felt like you liberals were pulling against us this whole time.
You guys can either reach across the ailse or deepen the chasm. It's your choice.
Well, you'll probably get your way. And when you do, I hope you will be better winners than you were losers these past 8 years. I swear, it felt like you liberals were pulling against us this whole time.
You guys can either reach across the ailse or deepen the chasm. It's your choice.
kathyn | 5:19 p.m. Oct. 16, 2008
I really believe that the market has been manipulated by powerful people. It's galling to see big banks being bailed out when you know these same banks never gave anybody a break, ever! They were the first to foreclose, but now they expect our taxes to bail them out for their very foolish practices. Whatever happened to consequences?
Crash baby crash.... | 8:47 p.m. Oct. 16, 2008
Wall Street humming along...... Oil goes through the roof. Wall Street falls.... Oil goes way down. My pocket book cannot afford a "healthy" economy.
The bailout is for the rich executives. Case in point, AIG spends $500,000 for spa/massage treatments and hunting excursions after their bailout.
I hope the market has not bottomed out. I say... CRASH AND BURN!!!!
The bailout is for the rich executives. Case in point, AIG spends $500,000 for spa/massage treatments and hunting excursions after their bailout.
I hope the market has not bottomed out. I say... CRASH AND BURN!!!!
President McCain | 9:04 p.m. Oct. 16, 2008
OBAMANOMICS
Called CLASS WARFARE By Any Other Name
Wall Street Journal Says Barack Obama Is "Senator Government" and will take spending to new highs not seen for decades These ideas reveal that Mr. Obama thinks economic growth derives mainly from growing the government. They merely redistribute money taxed or borrowed from the private sector to favored political constituencies. At least Bill Clinton sold his tax cut in 1993 as a way to reduce the deficit; Mr. Obama is proposing to take federal spending to heights not seen since the early 1980s. If this is his agenda to spur recovery, no wonder the stock market is tanking.
Called CLASS WARFARE By Any Other Name
Wall Street Journal Says Barack Obama Is "Senator Government" and will take spending to new highs not seen for decades These ideas reveal that Mr. Obama thinks economic growth derives mainly from growing the government. They merely redistribute money taxed or borrowed from the private sector to favored political constituencies. At least Bill Clinton sold his tax cut in 1993 as a way to reduce the deficit; Mr. Obama is proposing to take federal spending to heights not seen since the early 1980s. If this is his agenda to spur recovery, no wonder the stock market is tanking.
mark | 9:06 p.m. Oct. 16, 2008
Re: Lew Jeppson | 3:45 p.m. Oct. 16, 2008, and Obama | 3:52 p.m. Oct. 16, 2008,
Can either of you back up any of your accusations?
Can either of you back up any of your accusations?
price of gas | 11:44 p.m. Oct. 16, 2008
Democrats were loving the stock market drops.
Obama was almost declared the winner.
What they didn’t realize is the drop in oil prices.
Many of the average working ‘JOES’ will be getting half priced gas the day of the election, 2 dollars a gallon.
McCain wins.
The 401k- IRA drop is painful, but we forget about it and keep working.
A young man at the gas pumps asked me: “Is this drop in gas prices a Republican trick?” I told him NO, but that McCain would probably keep prices low.
He has now switched from Obama to McCain, but said he probably wouldn’t vote anyway.
If he does vote, it will be because of lower pump prices.
Obama was almost declared the winner.
What they didn’t realize is the drop in oil prices.
Many of the average working ‘JOES’ will be getting half priced gas the day of the election, 2 dollars a gallon.
McCain wins.
The 401k- IRA drop is painful, but we forget about it and keep working.
A young man at the gas pumps asked me: “Is this drop in gas prices a Republican trick?” I told him NO, but that McCain would probably keep prices low.
He has now switched from Obama to McCain, but said he probably wouldn’t vote anyway.
If he does vote, it will be because of lower pump prices.
mark | 10:02 a.m. Oct. 17, 2008
Okay, if anyone switches his vote because of lies some yahoo tells him at the pump, well then it is good he won't vote. Can you imagine?
And you might be able to forget about your 401, but those of us that are thoughtful and try to plan for our future have a very hard time overlooking it.
And other people are hoping for economic collapse because they think gas prices are tied to it.
Where do these people come from?
And you might be able to forget about your 401, but those of us that are thoughtful and try to plan for our future have a very hard time overlooking it.
And other people are hoping for economic collapse because they think gas prices are tied to it.
Where do these people come from?
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I seem to have more money and everything cost less (gas, food, clothing, etc...) Whats up with that?