Originally Posted by mact3333
If 1140 doesnt hold we will undercut 1100...then short term rally again followed by "big" selloff into Nov.
Mark my words, there will come a time when you see rioting in our streets... not by the outliers of society or students, but rather by the teachers, firemen, cops, mom/pops...when you fark with someones family or someones money is the only time people will revolt...soon enough they will fark with both...now you dont really think there is any money in social security...are PERS plans abit under-funded?...hmmm...gonna get ugly when the states have to tell the socialized retirees " we were just kidding".
Hey Mac, you are not the only one...
It seems they are worried about student riots being a catalyst for rest of the population to riot.
I have forecast that we’ll see economically-driven U.S. riots by 2013. It seems I’ve been joined in that belief by Michael Bloomberg:
Michael Bloomberg to Congress: Time to expect riots
New York Mayor Michael Bloomberg warned Congress Friday, saying members should expect riots if the nation’s rate of unemployment remains above 9 percent.
“We have a lot of kids graduating college, can’t find jobs,” Mr. Bloomberg said on his weekly radio show. “That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”
Mr. Bloomberg also noted that the nation’s poverty rate, which rose to the highest level in over a decade, was the latest indication that Congress is failing America.
“The public is not happy,” he said. “The public knows there is something wrong in this country, and there is. The bottom line is that they’re upset.”
Riots have hit a number of nations, including Greece and countries throughout the Middle East, as workers continue to search for jobs. A recent Labor Department report found the U.S. failing to add a single job in the month of August as the rate of unemployment remained above 9 percent.
Mr. Bloomberg focused on college students, saying the next generation of workers are lucky to find any jobs in the current economic climate. Mr. Bloomberg noted that the ramifications of the economic crisis are likely to be felt for years to come.