Dow Jones below 11,000
10,963. On January, 20, 2001 -- a day that will truly be known as a day of infamy for the rest of the 21st Century -- the Dow Jones Industrial Average (DJIA) was 10,588. That's less than a half of percent gain per year.
Dollar Falls to Record Low Versus Euro
The dollar declined to a record low against the euro on speculation Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson will say credit- market losses are hurting U.S. economic growth. That euro will cost you a buck 60 now.
All this and it costs more, too?
The U.S. economic downturn gained steam Tuesday, with a report of the highest inflation since the early 1980s, more bad news for banks and automakers and a suggestion by the Federal Reserve chief that worse days are ahead.
Have faith, breathe deep
Warning of the risks of a further slowdown and higher inflation, Ben S. Bernanke, chairman of the Federal Reserve, offered a gloomy assessment of the economy on Tuesday as George Bush, speaking a few blocks away, urged Americans to have faith in the country’s financial foundation. Bush, speaking at a White House news conference that coincided with the Fed chair’s testimony, urged Americans to “take a deep breath.”
Thank a Republican. Especially one of 62 million dumbasses who voted to reelect that fool in 2004.
