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October 7, 2008

Dow Drops another 508 Points, Signs of Panic

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Civil Rights

— @ 6:07 am

Stock Market has lost more than 1,400 points in one week.

by Jeff Davis

A recent news article reports “Stocks tumbled again Tuesday, despite efforts by the Federal Reserve to keep credit flowing to businesses and word from Fed Chairman Ben Bernanke that the central bank could soon cut interest rates to re-energize the economy. The Dow Jones industrial average, down nearly 370 points Monday, sank another 508 points, or 5.1%, to 9447. It was the Dow’s fifth-consecutive drop, during which its slid more than 1,400 points, or 13%.”

Last week an unfortunate Brit threw himself under a train. Now the ongoing economic meltdown has inspired a murder-suicide in the US. According to Breitbart, “Six people were discovered dead on Monday at a house in a upmarket suburb in northern Los Angeles in what police described as a suspected murder-suicide. No further information about the dead and their manner of death was immediately released. The bodies were found at a home in a gated community at Porter Ranch in the San Fernando Valley, police said. …the Los Angeles Times cited an unnamed Los Angeles Police Department source as saying that a man suffering financial problems had shot his mother(-in-law), wife and three children before taking his own life. According to a real estate website, homes in the gated community where the bodies were found are valued at between 700,000 to 830,000 dollars.”

This guy was obviously faced with the horrifying prospect of leaving his ritzy gated community and being forced to live in a crummy apartment in a bad neighborhood, no doubt surrounded by gang members and having to work for a living –assuming the Mexicans haven’t taken all the manual jobs that White people are more than willing to do especially during a recession. He couldn’t take it, and so he flipped out and took his family with him. Considering the state of most American marriages and relationships, the wife was probably part of his problem with out of control spending and constant demands for more cash and more material goods. Whatever happened to “living within your means” and being prepared for a financial slow down? If he started off with a smaller house, which he could afford, and paid it off 100 percent; he would have been in a position to sit out a recession. Unfortunately it seems 70 to 80 percent of yuppies are living beyond their means. They exist from paycheck to paycheck with no backup plan if the economy melts down and they have mortgage payments to make for the next 20 years. (more…)

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October 7, 2008

Dow Drops another 508 Points, Signs of Panic