Dow Decline Only Slightly Better than NYT Over 1 Year Period
Terry Trippany on Sep 29 2008 at 5:13 pm | Filed under: Feature Article, Financial Crisis
The Dow Jones Industrial Average (DJI) decline is only slightly better than that of the New York Times Company (NYT) over the same 1 year period!. Think about that next time you take advice from the paper of liberal record or their subsidiaries.
DOW compared to NYT Company over 1 year period. (Click here to enlarge) -
Also, the idiots in the mainstream media continue to carry the water for Barack Obama and the Democrats. Most are reporting that today’s loss is the single biggest lost in history. Well this is both true and false. Today is the single biggest POINT LOSS which is a far cry less than the single biggest loss percentage wise.
From CNN money:
The Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.
Also, proving that he is an unmitigated moron, CNBC anchor John Harwood said the following about where to put blame for today’s failure to pass a bill:
Local Chicago Anchor: John, some have called this a bi-partisan killing of the bailout bill. Sort out this blame game for us a little would you?
John Harwood: Well look, if you step back you have a Republican President, a Republican Treasury Secretary who asked the Congress to do this. Leaders of both parties in the Congress responded, Democrats moved the bill forward. They are in control, they delivered about 60% of their members in favor of the bill. Republicans had two thirds of their members defy their President, vote against the bill. Ah so there’s not much way to avoid the conclusion that it’s more of a problem on the Republican side.
And I got to tell you Bob it’s a big problem for John McCain.
I agree with Harwood on one point, it is a big problem for John McCain because he is not in Washington, instead giving speeches in Ohio when he should be working on getting something passed. But that is where it stops. Meanwhile Barack Obama essentially said the fundamentals of the economy are sound in a Q&A today. The same sort of thing his campaign has been hitting John McCain on for weeks.
Twice now Democrats have told us that a deal was complete only to find out that they were lying for political gain and couldn’t even get their own members in agreement which is technically all they would need to get their plan passed.
See also: Michelle Malkin
){kind=link}