Originally Posted by duk4me
The sky isn't falling, just anyone with a 401K or a retiree drawing on investments in the stock market are leaking(not dripping) blood. Maybe you are involved with an industry or service where is does not affect you, but for many, the financial health of our clientelle is paramount to our success for our families.
Hope you have the time to struggle through, Mike. But now that the 8,000 barrier has been breeched, I fear it will continue down through 5,000. There is bound to be some ups and downs...even possible rallys that many will think it's bottomed out. But I'll be surprised if the bottom won't be below 5K. Don't envy you the grief.
Originally Posted by Captain Mike D
I was surprised by the amount of prayer incorporated into today's inauguration. At the high school where I work, they had alot of inauguration day activities and we watched alot of the ceremonies on TV. I made mention to the principal that there was more religion in school today than there had been in decades.
Are you serious?? The election of a president you don't care for, is worse than the deaths of thousands of service men and women (Pearl) and the deaths of thousands of innocent civilians in the most horrible act of terroism ever (9/11)???:(
Originally Posted by Bob Gutermuth
I'm still not sure who those people are who were kvetching. I am sure you can find an article or two with someone complaining about it, but I don't recall much covereage about it. Certainly not as much coverage as I have seen talking about the cost of this innauguration. As far as I can tell the 'kvetching' came from one AP writer, and one writer for Salon. (Oh, and UB's made-up headlines that he posted in another thread.)
Originally Posted by Hew
My dad pulled his money last summer and said he expects it to hit in the low 6k range. So far he is on track.
Originally Posted by Uncle Bill
Here's a partial compilation of some of the print media hand wringing (quotes w/ links to original): http://newsbusters.org/blogs/clay-wa...ama-free-party
Originally Posted by backpasture
I've read others. I've also seen transcripts from an ABC Nightly News story that trashed Bush's 2005 inaugural...even going so far as to go find Cindy Sheehan to comment on the appropriateness of it.
That took 30 seconds. You've got Google, too. ;-)
No I'm not in an industry that is unaffected. Check out the poultry industry for the last five years.
Originally Posted by Captain Mike D
Any retiree depending on the stock market for more than 20% of their income needs a new advisor and if they don't have one they need to get one.
THe stock market will come back it is a question of when not if and in mo now is the perfect time to start looking to buy some bargains.
Eat more chikin.:)Regards,
Just to add a few more:
Obama hosting pricey party in a dicey economy
By MATT APUZZO, Associated Press Writer Matt Apuzzo, Associated Press Writer – Sat Jan 17, 1:23 pm ET (Published in major newspapers including The Washington Post)
WASHINGTON – Unemployment is up. The stock market is down. Let's party.
The price tag for President-elect Barack Obama's inauguration gala is expected to break records, with some estimates reaching as high as $150 million. Despite the bleak economy, however, Democrats who called on President George W. Bush to be frugal four years ago are issuing no such demands now that an inaugural weekend of rock concerts and star-studded parties has begun.
The Yahoo Newsroom
That's a Lot of Baloons
As the recession continues to wreak havoc on the U.S. economy and inauguration celebrations ramp up, a lot of people are asking: "How much will this shindig cost?"
The short answer? Likely more than $150 million — and yep, that could be the most expensive ever. (George W. Bush was given a hard time for the $42.3 million cost of his inauguration celebrations ... but that number, as Media Matters points out, did not include any security.).
Inauguration price tag: $150 million
It is going be some party. When Barack Obama comes to Washington to be sworn into office, the entire nation will be watching - and paying for - the celebration.
By Catherine Clifford, CNNMoney.com staff writer
Last Updated: January 19, 2009: 11:49 AM ET
NEW YORK (CNNMoney.com) -- The total cost of the inauguration of the 44th President of the United States will likely top $150 million by the time the galas and streamers and porta-pots are all cleaned up.
Obama's inauguration set to be the most expensive in US history
The $150m (£102m) cost of the celebration will dwarf the amount spent on George Bush's inauguration in 2005
Washington prepares for Obama's inauguration with a dress rehearsal Link to this video
President Barack Obama's inauguration next week is set to be the most expensive ever, predicted to reach over $150m (£102m). This dwarfs the $42.3m spent on George Bush's inauguration in 2005 and the $33m spent on Bill Clinton's in 1993.
Inauguration costs too high in this economic climate
January 18, 2009
With at least 2 million people expected for Barack Obama's inauguration, not only will the celebration be the biggest of its kind in the nation's history, but by far it also will be the most expensive.
Of course, much of the additional cost has to do with the fact that Obama will become the first African-American president. This historic feat, without question, warrants a special celebration.
And yes, President Bush spent a record $70 million on his 2005 inauguration, at a time when young American soldiers were being killed in escalating numbers.
But the question is still valid: Amid these challenging economic times — the worst since the Great Depression — isn't a $150 million party for Obama's inauguration over the top? Frankly, yes.
The NY Times published a couple of opinion pieces about the cost of the Bush inauguration, stimulated in part by letters and complaints by a NY Congressman. It published one news story that was locally authored criticizing the cost of the Obama inauguration plus the critical AP piece. Interestingly, MSNBC, which is generally as fawning in its praise of liberals as Fox is of conservatives, was the source of the most mis-leading story line about the inaugural cost when it compared the $150 million plus cost of the Obama inaugural to the $40 million cost of the bush inaugural, failing to note the exclusion of security costs from the latter estimate. This was ultimately pointed out by MSNBC's Media Matters but was first reported as is in papers throughout the world. Was that bias or bad reporting?
Only 1459 days to go before we can get a new president.:(