Depression Watch (Nov. 16 2008)

Dow Close (Wed)        8,282.66   411.30 (-)    
Dow Close (Thurs)      8,835.25    552.59
Dow Close (Fri)          8,497.31    337.94 (-)
Last Friday's close      8,943.81    248.02
Fri-to-Fri change                         446.5 (-)
Oil                           $57.04        1.20 (-)

Welcome to Obama's world of change. Investment, and the jobs they created are fleeing the seen, looking for places to park their money until the socialist (income redistribution) storm blows over. Just look at the past Democrat supporters like George Soros!

Supporting Quotes

G20
"At the same time, we must lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again," the statement said. ---  In order to attack the lack of faith in markets, the G20 leaders agreed on wide-ranging measures to shore-up the glaring weaknesses that have been exposed in the regulation of new financial products. --- For instance, hedge funds could be regulated for the first time and credit-rating agencies will get tougher oversight.  - MarketWatch

Oil/Soros
The hedge fund of billionaire investor George Soros increased its stake in Brazilian state-run oil company Petroleo Brasileiro  to 21.1 million American Depositary Receipts as of Sept. 30 from 11.5 million at June 30. ---  The Petrobras stake was by far the largest in the Soros fund's reported holdings, which totaled $3.8 billion at Sept. 30, up from $3.7 billion at June 30. --- The change in portfolio size could reflect the performance of the portfolio, a shift toward, or away from, investments that have to be reported to the Securities and Exchange Commission, or some combination of the two.  - MarketWatch

From the Same G20 story above!
Over the past year, global financial markets, once the crown jewel of the new century's economy, have frozen. Banks and financial market participants are hoarding cash, unwilling to take on the most basic investment risks. Investors are bringing home capital that had been invested in developing economies. As a result, economic conditions around the world have cratered. - MarketWatch

A comment from MarketWatch
Did anyone hear Bush's comment tonight when he said that if we do not fix things that we could see a depression that would be worse than the Great Depression? I was shocked to hear him say something like that when he and our Govt cannot even admit we are in a recession. - ranger, MarketWatch

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