- The Dow plunged 635 points, as President Obama blamed Miami Dolphins RB Reggie Bush for the country's economic mess and the recent credit sanctions from S&P.
- For stat junkies, today was the 6th biggest market drop! The biggest drop since December 2008!
- So, secular bear market since 2000 and all. Do you think the cyclical bull market that started in March 2009 is over?
- Oil dropped 6% today after the downgrade, as consumers lined up at horse and buggy dealers to trade in their cars for something a little more retro, and a little more green.
- Still cycling. Weight lifting has been a little rough in summer, with the new puppy and, well, cycling. Tried to change the routine but didn't like it, so back to the 4 days a week, which seems to take me 2 weeks to get through these days.
- MGM posted a 2nd quarter profit. With bonds at near 0% rates, and stocks down huge lately, maybe the Wheel of Fortune slot machine is the safest place to put your money these days.
- Warren Buffett basically said the S&P was full of crap, and that if there were an AAAA rating, the US should have that.
- So the running line on Twitter is "You know what else Obama inherited from Bush? A 5.7% unemployment rate and a AAA rating!"
- Helicopter Ben Bernanke tomorrow...
