Pre-trading halted on DOW as it plunges 550 points

As world-wide markets tumbled overnight the DOW is plunging. A “circuit breaker” was tripped halting pre-open trading as the index fell by 550 points. 

It’ll be a nervous morning downtown.

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How much money will they print?

Ben Bernanke is floating the idea of another direct stimulus package:

“With the economy likely to be weak for several quarters, and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate,” Bernanke said in prepared testimony to the panel.

House Speaker Nancy Pelosi has said an economic recovery bill could be as large as $150 billion. Economists have told leading Democrats the plan should be twice the size.

My simple question is how much money will they print to keep us afloat? How much will it hurt us in the long run?

BTW The DOW Tanked Again

733 points to be exact.

The Dow Jones Soars: 936 points!

The stock market recovered some of its losses today, in some wild trading. These gains need to hold steady. If they do the political race could tighten up. If they continue to swing wildly, no one will feel certain heading forward. 

My gut, the stock market fundamentally is a measure of US business and its value, as set by the investors that fund it. The market was severely undervalued at the end of last week and was due to make some gains. This probably isn’t going to be the huge upswing we all want. But it will work to stabilize things.

MEANWHILE THE DOW DROPS BELOW 9,000 POINTS

The McCain campaign would like to talk about Bill Ayers, or being a Maverick or ANYTHING or than the news of the day. That news of course is that the stock market continues to tumble despite the efforts of the US and World Banking institutions to keep the global economy afloat. Whether this is reaction to the fundamentals, panic, or a market correction no one knows for sure. But the simple fact is the value of American business as determined by the investors that determine it, is dropping, rapidly.

The Dark Knight Meets Bush Bailout

For my first trick, I’m going to make this economic crisis…disappear…

Invest In Your 401(keg)

I wish I could source this to someone other than someone in my office, but I got this email FWD today. In an unstable economy with skyrocketing fuel costs, consider investing in your beer belly. Here’s some ROI you can bank on:

  • If you had purchased $1,000.00 of Delta Air Lines stock one year ago you would have $49.00 left.
  • With Enron, you would have had $16.50 left of the original $1,000.00.
  • With WorldCom, you would have had less than $5.00 left.
  • But, if you had purchased $1,000.00 worth of beer one year ago, drank all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214.00 cash.
  • Based on the above, the best current investment advice is to drink heavily and recycle. It’s called the 401(keg).
  • A recent study found the average American walks about 900 miles a year. Another study found Americans drink, on the average, 22 gallons of alcohol a year. That means, on average, Americans get about 41 miles to the gallon.