Stock Market Barackalypse

“And he said unto them, I beheld Satan as lightning fall from heaven.” (Luke 10:18)


Barak (English pronunciation: /ˈbɛəræk/ or /ˈbɛərək/[1]; Hebrew: בָּרָק‎‎, Tiberian: Bārāq, “Lightning; Shine”), Al-Burāq (Arabic: البُراق‎ al-Burāq “lightning”)
Mubarak (Arabic: مبارك‎, Mubārak) is an Arabic given name, which has the meaning “blessed one”. A variant form is Baraka or Barack (Arabic: بارك‎, Bārak), not to be confused with the unrelated Hebrew name Barak). Etymologically, the name is from the root brk, meaning “knee”, and verbally “to prostrate oneself”, and hence “to receive blessing”.
Blessed by whom?

Dow Skids 600, Worst Day Since Credit Crisis

By: JeeYeon Park – CNBC.com – August 8, 2011
Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P’s downgrade of U.S.’s credit rating last week in addition to ongoing economic jitters.
The Dow Jones Industrial Average plunged 634.76 points, or 5.55%, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index’s biggest point and percent drop since Dec. 1, 2008.
The S&P 500 plummeted 79.92 points, or 6.66%, to close at 1,119.46, its lowest close since Sept. 10, 2010.
Nasdaq sank 174.72 points, or 6.90%, to end at 2,357.69, its lowest close since October 4, 2010.

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tina
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I like the quote Rush used today-“Debt Man Walking”

Judy
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Who did not see this coming? Soros certain did, and made a bundle. Loved Rush’s commentary.

DCG
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And he has the audacity to blame “political gridlock” on the S&P downgrade. This man is the most inept leader I’ve ever seen. He’s officially worse than that peanut Jimmy…

Anonymous
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Anonymous

Great effect on business and consumer confidence… just not a beneficial one for anybody.

Dave
Editor
Dave

It’s a good thing my 401K was wiped out over two years ago.
If it hadn’t been, I would have lost my ass today.
-Dave

Anonymous
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Anonymous

Even the NYT isn’t too thrilled ’bout the Hope & Change now…
“Second Recession in U.S. Could Be Worse Than First,” by Catherine Rampell, NYT via Yahoo! Finance, 7 Aug 2011
https://finance.yahoo.com/news/Second-Recession-in-US-Could-nytimes-2428475539.html