The Lockerroom
This is a the place to discuss the site, community issues, discuss ideas for opinions, and other things related to the community but not specifically about sports. You can add something to the locker room by clicking the link.
Greatest Market Drop Ever!!!
Actually, I'm kidding (for those of you who remember the "Greatest such and such Ever" article)
But seriously, Look at the dip. At one point 700 points in the Dow (which is a pointless measure for most of us). The S&P (a more accurate measure) is down over 6.5% which is roughly a 700+ point drop in the DJIA (with the DJIA currently down over 550 points or about 5%).
But sadly (well, not sadly...thankfully) this still pales in comparison to the tech stock bust post-9/11 which saw a three month drop of almost 30% of the DJIA.
And remember, thanks to the Depression era stopgaps, it'll take a 10% drop to close the market for an hour (20% for 2 hours and 30% for the day).
Why's this happening? The emotion is probably due to the failed bailout, but the fact of the matter is, the whole world is struggling with credit issues...we (we meaning America...sorry Alex) might actually be ahead of the curve.
On that note, the Tigers and White Sox are on rain delay, so if you're in Chicago, things are particularly grim.
Now thats the words of a public servant if I ever heard them before. Selfish sons of..."We're all worried about losing our jobs," Rep. Paul Ryan, R-Wis., declared in an impassioned speech in support of the bill before the vote. "Most of us say, 'I want this thing to pass, but I want you to vote for it — not me.' "