NEW YORK - Stocks plunged Wednesday, with the Dow Jones industrial average chalking up a triple-digit decline and sinking to a one-month low, after a stronger-than-expected rise in consumer inflation fueled Wall Street’s fear that interest rates will keep climbing.

The sharp sell-off dragged the technology-rich Nasdaq Composite index into negative territory for the year.

Investors were disappointed by a Labor Department report that its consumer price index swelled 0.6 percent in April, topping forecasts of a 0.5 percent gain. But core CPI — without food and energy — also grew a faster-than-anticipated 0.3 percent, adding to worries that soaring oil have begun to lift prices elsewhere.

Hey Barney: That is what we investors call a buying opportunity. Buy low, sell high, baby...

Stocks plunged Wednesday............

We're doomed!! Man the lifeboats, women and children first. It's over, Barney, just bend of and kiss your tush goodby.

Should have been "bend over". Sorry, it's been a long day.

Sinking to a one-month low??!! I'm totally panicked!!!

Soaring oil prices a problem? I thought that the ideal would be $5.00 a gallon gasoline, to nudge us into alternatives to the internal combustion engine, a la Gore. Damn, it's hard to keep those contradictory liberal positions straight! That's the problem with relativism---you have to keep up with who is behind what, to know what to think about it. Or, in Barmy's case, what to regurgitate about it. Not a lot of thinking going on there......

I wander if Barney had ever heard of profit taking? After a quick and relentless run up I myself took profits in 12 of my 15 holdings. I'm looking for a 10% correction before I redeploy those funds. Half way down for me. I may start picking away if it falls another couple hundred points. I can see a tight trading range until November however and then get prepared to see new all time highs in December.

Yeah, if you listened to the demorats, you'd think we were doomed.

Almiranta, you're right, it's hard to keep up with their two-faced rhetoric. I thought high gas prices were what they wanted. It would drive us to develop alternative fuels, they said.

Gloom and doom Blarney Fife...stocks "plunged Wednesday"

Funny, the last 8 months with them climbing I don't recall him ONE TIME saying they were going up.

Hmmmm, I wonder why.

“Gloom and doom Blarney Fife...stocks "plunged Wednesday"
Funny, the last 8 months with them climbing I don't recall him ONE TIME saying they were going up.
Hmmmm, I wonder why.”
Posted by: Warriornation
O-really:
During Clinton’s term (’93-’00) the DJA grew on average of 1,000 points per year. During Bush’s term the DJA has not grown one point. If Bush did not screw-up the economy, the DJA would be over 17,000 by now.
Posted by: Barneyg2000 at May 2, 2006 09:48 AM

What did the DJA close today at?

You apparently can't read to well. I said the last 8 months (that would be May 17th minus 8 months) when the DOW has been growing you haven't said a thing, yet you have no problem because it goes down one day.

Try again Blarney. By the way, look at Clinton's high in January of 2000 and where it ended when he LEFT office a year later...quite an "upward trend"...LOL. GDP down, handed a recession to Bush, etc, etc.

Your lies are not going to go unchecked Blarney. Furthermore, what exactly did Clinton due to created the dot.com boom. It was handed to him in his lap and he was there at the right time and place. Nothing more. When the bubble burst, so did his economy. If he was so great, why did the GDP, the DOW, etc all plummet after it burst and he was STILL in office for a year? Did his magic fart dust run out?

Warrior,

If you remember, the bubble started to burst immediatley after Janet Reno took Microsoft to court. So while Clinton had nothing to do with the stock market rise or the economy during his time in office, he and his administration were directly responsible for the stock market crash.

OH BTW moonbats: Before you all whine "Yes he did help the economy", please cite SPECIFIC measures which HE was responsbile for initiating which helped the economy. Otherwise save the bandwidth.

****crickets****

In the last 10 months of Clintons regime the Nasdaq dropped a whopping 50% while the Dow and S&P dropped 10%.

Shhhh, CJ. Don't bring facts into the equation, Barney Fife and friends don't know what to do when facts are introduced. Wait, actually they do. They change the subject, distort the truth or both.

Check out the GDP under Clinton his last year as well.

The libs are in dreamland sometimes.

Key barometer of economic activity declines:

WASHINGTON - A widely watched barometer of economic activity slipped in April despite projections of an increase, a private research group said on Thursday, signaling a possible stalling of the nation’s economy.

The Conference Board said its Index of Leading Indicators fell 0.01 percent to 138.9 in April after it rose a revised 0.04 percent to 139 in March.

April’s decline came amid rising gas prices, lagging consumer confidence and increasing interest rates. The April figure was below analyst’s expectations of a 0.1 percent increase from March. The index is closely watched because it predicts economic activity three to six months in the future.

“It is saying what we all know: second quarter growth will fall short of the first quarter,” said Stuart Hoffman, chief economist at PNC Financial Services Group. “And growth for the second half of the year, will be slower than the first.”

Hoffman expects GDP growth will be between 3 percent and 3.5 percent in the second quarter, and no more than 3 percent in the second half of the year.

Gary Thayer, chief economist at A.G. Edwards & Sons Inc., said several recent economic reports point toward a slowdown. For example, earlier this month the Commerce Department reported that the number of new housing projects in April dropped by 7.4 percent to a seasonally adjusted annual rate of 1.849 million units.

Consumer confidence sank to a seven-month low in early May. The RBC CASH Index, based on results from the international polling firm Ipsos, showed confidence at 67.1 in early May, deteriorating from 89.4 in April.

Energy prices also remain high, raising concerns about inflation. Oil futures fetched $69 a barrel earlier this week — 40 percent more than a year ago— but down from $75 a barrel at the end of April.

“The economy is just poised for a slowdown,” said Thayer.

Keep talking about the good while ignoring the bad. At least some people are able to consider both.

Why do people think its okay to post entire articles here. Post your own thoughts. If I want to read the newspaper I go out to my drivway where the illegal alien threw it from a moving vehicle. Can't you get arrested for that?

Thoughts are pointless....facts aren't.

According to far left wing kooks like captain ron this is a fact. "Energy prices also remain high, raising concerns about inflation"

I suppose they've been "concerned" about inflation since 2003 when the runup in energy began.

war. “Try again Blarney. By the way, look at Clinton's high in January of 2000 and where it ended when he LEFT office a year later...quite an "upward trend"...LOL.”

OK
DJIA
12/31/92 = 1204.55
12/31/97=2607.38
12/31/99=3214.38
12/29/00=3317.41 (3.2% increase over ’99 and 275% increase since ‘92)
After Bush’s first year 12/31/01=2892.22 (15% drop)

Blarney, you're not even close.
1992 = 3301.11
1993 = 3754.09
1994 = 3834.44
1995 = 5117.12 (After Republicans take the House)
1996 = 6448.27
1997 = 7908.25
1998 = 9181.43
1999 = 11497.12
2000 = 10786.85 (down 6%)

I see Blarney can't answer the very simple question which was where did the stock market finish when Clinton left and which way was it going from the year prior when it hit it's high?

Thanks to Bane for answering that very simple question.

Blarney, shed for us your pearls of wisdom of what Clinton actually did to kick off this boom you credit him with? This should be good.

Economic growth in the USA was strong throughout the 1990s, and apart from the 1991 recession, it was generally within a range of 3 percent to 4.5 percent. Following the end of the 1991 recession, the US economy experienced the longest expansion in the country's history, with growth averaging 3.7 percent through to 2000, an overall inflation rate averaging around 2 percent, and an unemployment rate which fell to less than 4 percent.

Recession hit the US economy in 2001, with the second and third quarters marked by decline. Recovery was further thwarted by the September 11 terrorist attacks and the effect of the tech crash in 2000. In 2002, the global economy slow down, and there were also corporate accounting scandals (such as the Enron collapse) and shrinking exports (not helped by a strong $US), so US GDP growth remained at low levels over this year.

Is that good enough for you warr?

PS, my chart above is the Dow Jones Index and not the average, and the numbers are correct.

Bane, when bush took office the Dow was at 11,300. Yesterday the DOW closed at 11,128.

Bane, The S&P 500 in 1992 was 435. When bush took office the S&P 500 was at 1500. Yesterday the S&P 500 closed at 1262.

At the current rate of logging the rain forset, it will be gone in 30 years. Asian logs are shipped to China and made into furniture, if we don't buy the furniture, they wouldn't log the rain forest! Pass it on...

The lowest unemployment number during the Clinton years was 4.0 in 2000, just as the GDP dropped from previous quarters into negative territory (-1.6%). The economy slowed down to recession starting in the third quarter of 2000.
Baloney wrote, “PS, my chart above is the Dow Jones Index and not the average, and the numbers are correct.”
What kind of nonsense is that? DJIA is “Dow Jones Industrial Average” When you’re caught lying don’t compound the error by changing the rules.
Please explain what “indexes” you used for these numbers, and I’ll explain how they don’t answer Warrior’s question.
As to the current numbers, maybe Mr. Bush can learn how Clinton affected the DJIA and make that happen for him. Do tell, Barney, what did Clinton say, do, propose, administer, direct, suggest, divine, or apply that helped the economy?

bane, there was so much love for Clinton, everyone worked harder due to their positive attitude. Their productivity increased because Gore had the foresight to fund the development of the internet, and write legislation that made the internet available to consumers and businesses, and since the world loved Clinton, the OPEC nations were more than happy to pump as much oil as we needed to keep costs down.

bane, I used the DJ-Composite Index. Also, I see you did not dispute my DJIA stats.

Barney,
Dow doesn’t publish composite indices; they publish Industrials, utilities, and transports. Are you talking about the AMEX Composite, the NYSE Composite?
You wrote “DJIA” which is wrong, the post under your’s is the actual DJIA for the years listed. It's okay, you're only off by about 9,000!

Bane, when bush took office the Dow was at 11,300. Yesterday the DOW closed at 11,128.
Posted by: Barneyg2000 [TypeKey Profile Page] at May 19, 2006 10:36 AM

http://djindexes.com/mdsidx/index.cfm?event=indexHistory

Moron,
December 31, 2000 the DJIA was 10,786, Holy crap, you're a liar.
AND, you put bogus numbers in a post and then changed what they mean three times.
You don't know how to read the Dow, you don't know what composite indeces are, just shut-up if you can't frame an argument.