Thanks Barry… Consumer Index Hits Record Lows- Stock Market Reaches Pre-Bush 1997 Levels
We are now officially looking at a Barry Market:
Stock markets tanked today to pre-Bush levels.
Major stock market indexes fell to 1997 levels today.
Investors’ sagging confidence has pulled the major stock market indexes to their lowest levels in nearly 12 years.
The Standard & Poor’s 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.
Most financial stocks were pounded even as government agencies led by the Treasury Department said they will launch a revamped bank rescue program that includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.
The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, fell two points on Monday to 55.5. That’s the lowest level of confidence ever recorded in the seven-year history of the Consumer Index, and the fourth time a new low has been set this month.
The Rasmussen Investor Index fell nearly four points on Monday to 56.9, also a record low. For the Investor Index, the previous low had been established in mid-December.
But, don’t worry… Joe Biden was just put in the role of stimulus czar.
Everything will be fine.
UPDATE 2: Here’s another good use of American taxpayer’s money.
Team Obama and the Democrats will give a billion dollar stimulus to Gaza.
Gee, do you think any of this will end up in the hands of Hamas terrorists?