On Monday, August 8, 2011, the Dow closed at 10,809.85, with a loss of 634.76 points for a percentage loss of – 5.55%. The S&P Index of 500 stocks closed at 1119.46, with a loss 79.92 points for a percentage loss of – 6.66%. The NASDAQ closed at 2357.69, with a loss of 174.72 points for a percentage loss of – 6.90%. ALL 500 STOCKS IN THE S&P INDEX CLOSED LOWER. There was not a single stock in the S&P index that posted a gain!
Those who have been reading sanityandsense.com were expecting this. State sponsered public employee pension funds and municipal bonds will bring more problems in the future. What sane person could possibly be surprised by this? The crooks in the U.S. Congress created this problem over a 30 year period and the Tea Party representatives were the ONLY individuals who offered a sane and sensible solution. A Balanced Budget Constitutional Amendment is the only sane answer to help America solve our problems. Unfortunately, the worst is yet to come.
I strongly suggest that readers go to the CATEGORIES section and click on the topic of Economics/Finance. All of the sane and sensible articles that clearly explained the economic situation are available for review.
R. Van Conoley