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Battered by Oil, Dow Touches Bear Territory

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posted on Jun, 28 2008 @ 04:21 PM
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Battered by Oil, Dow Touches Bear Territory


www.nytimes.com

fter eight brutal months on Wall Street, the Dow Jones industrial average finally made it official: Blue-chip stocks have stumbled into bear territory.

After a brief rally in April, stocks indexes have resumed a downward trend. For the week the Dow industrials fell nearly 4.2 percent.

A trader at the New York Mercantile Exchange on Friday, where the price of crude oil settled at $140.21 a barrel, up 57 cents.

A brief 155-point slide on Friday afternoon brought the decline in the Dow to 20 percent from its October peak, an ignominious figure that is generally regarded as marking the start of a bear market. The index ended down 107 points, a mere 0.1 percent above the threshold. The broader Standard & Poor’s 500-stock index has not fallen quite as much.
(visit the link for the full news article)



[edit on 28-6-2008 by grover]




posted on Jun, 28 2008 @ 04:21 PM
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This "market correction" is not good. between oil, inflation, a weak dollar, a credit crunch and housing meltdown not to mention a soaring deficit we are in for a very rough ride.

I have seen some blame this on the democrats, but they have only had their very slim majority for a year and a half...

... this is the result of bad policies from the bush administration and the republican controlled congress and no amount of spin is going to change that.

www.nytimes.com
(visit the link for the full news article)



posted on Jun, 28 2008 @ 05:20 PM
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reply to post by grover
 



... this is the result of bad policies from the bush administration and the republican controlled congress and no amount of spin is going to change that.


While they are the most recent, we mustn't forget that this was all started by breaking the Constitution. Wilson Administration in 1913, Central Banks AND Income Tax. FDR's Gold seizure and destruction of Gold Standard. Nixon's final removal of all Gold protection from our currency, making it a complete Fiat Currency doomed to failure.

JFK tried to take the power back from the Bankers with Executive Order 11110 and printed some 2 Billion in Silver backed 'United States Notes'. They were immediately recalled when Johnson took over.

So, this is the End Game to something that has been going on since 1913.

'Let me issue and control a nations money and I care not who makes the Laws.' Amshel Rothschild



 
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