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Forum Post: Stocks jumps 300 points after big holiday shopping weekend

Posted 11 years ago on Nov. 28, 2011, 10:39 a.m. EST by TheMaster (63)
This content is user submitted and not an official statement

http://www.latimes.com/business/la-fiw-stock-market-climbs-20111128,0,3711533.story

Initial reports show a record number of shoppers hit the mall or bought gifts online during the holiday weekend. Thanksgiving weekend is a make-or-break time for many retailers. For the past six years, Black Friday has been the biggest sales day of the year.

More proof of the irrelevancy of OWS.

Time to pack it in, losers.

9 Comments

9 Comments


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[-] 1 points by KnaveDave (357) 11 years ago

The economy is still going down. Banks that were "too big to fail" have been made even bigger in nearly every instance by our government in its plan to fix the economy. Banks are scarcely any more solvent than they ever were and certainly not able to sustain through another crash if something big hits the economy ... such as Europe failing because of how it was impacted by our own failures.

Bush did it. So does Obama. The rich are still getting to socialize their losses while continuing to privatize their gains. Politicians are still siding on both sides of the aisle with big money and doing nothing about those problems. Homes are still being foreclosed in huge numbers. Unemployment has not gone down.

The market bounced up and down and all over the place during the bottom of the Great Depression. It was a bumpy bottom. The so-called "Great Recession" is really another depression caused by the same causes. So, it will have ups and downs along the bottom, too, they mean nothing more than knee-jerk reactions to the nose of the moment. They are no reason to think anything has gotten better.

If you want to know if things are getting better or are going to get better, you have to keep your eye on the fundamentals of the economy and whether they have been corrected. They have not. All of the same problems that began this depression in 2008 are still causing the economic malaise we feel today. It is all a whole. It is not two recessions (a "second dip"); it is one long depression that was propped up in the middle by the biggest transfer of wealth from the middle class to the upper class in history, the biggest transfer of wealth from the public sector to the private sector and by helping the institutions that were "too big to fail" to become even bigger for the next round of failures. MUCH bigger than they were three years ago. It is a long way from over.

--Knave Dave http://TheGreatRecession.info/blog

[-] 1 points by winstonsmith1984 (5) 11 years ago

when the economic health of the biggest super-power in history is measured by "black friday retail sales", you know the end is just around the corner (although it is already here for many)

[-] 1 points by WeMustStandTogether (106) from Newark, NJ 11 years ago

I got a terrific deal on a tent. Ready for the mother of all july4th marches on District of Cronyphoria.

[-] 1 points by SparkyJP (1646) from Westminster, MD 11 years ago

It's a knee jerk reaction. You always have large pullbacks during a downtrend. Markets never move straight up or down. Expect a p/b to the daily 200 ema and a 38.2% fib. Resistance can be found there.

[-] 1 points by Doc4the99 (591) from Washington, DC 11 years ago

Thats true classic bear down swing

[-] 1 points by Doc4the99 (591) from Washington, DC 11 years ago

Ha. The euro is still collapsing. Post again on Thursday. We are at via where the dow j was just on last tuesday of last week. This is media spun hype regarding euro and pepper sprayed shoppers at wal mart. Its so the insiders can drop their stocks on the up before the bottom falls out. Dont believe the hype dont be sheeple

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[-] -2 points by ramous (765) from Wabash, IN 11 years ago

There have been many recessions in the US economy before. And many that are far worse than this one we're in. We just haven't had so much drama about it.

[-] 1 points by Doc4the99 (591) from Washington, DC 11 years ago

Its because its 2008 again theres a major credit bubble about to burst to tune of 700 trillion think like 2008 mortgage backed securities. Now think 700 trillion in toxic derivatives hedged against nothing. The financial world is about to pop. My frustration is we learned Nothing from 2008, we enabled the crooks with bail outs. When the bubble bursts we willl hear the same garbage about how we didnt see it coming and we need more bailouts. Lies. Look total world wide derivatives went up 100 trillion over the last 6 months. The financial engineers are running on fumes.Everbody looses this time. US banks are shell zombie banks holding trillions in toxic assets via shawdow banking off the books. Maybe the puppet masters can keep the party going, but I seriously doubt it. Debt is delevering. Look google euro via news its horrible and then go to marketwarch.com and read the headlines. They mis match. Think media spun BS for up tick before the implosion.

[-] 0 points by TheMaster (63) 11 years ago

The kiddies at the OWS events are ignorant. They thought obama would take care of them and all their needs. They don't understand hard work.