dow down to a 5 year low. about a dozen other markets had to close because they dropped over 10% japan closed down close to 10%. and there isn’t really all that much there is that they can do about it. dow is already down 250pts and the market doesn’t even open for an hour. it would not surprise me to see the dow drop over a thousand points.
not good. but Bush is planning a press conference at 10:20 so im sure he will have a brilliant plan to turn this around.
buy low! Where is the problem?
hard to do if your company can’t afford to pay you and if they can the money you get is worth less than the paper its printed on.
I wish i knew more about how all this works… what actions take place to drop the market so bad?
Great Depression II on the way?
Got paid today, buy stock on the low low. private company > *
Depression probably not, recession yes.
banks lend 30x what they actually have in their vaults to people to buy houses even if they don’t have a damn job. housing market finally starts to correct itself and home values slump. everyone tries to get out at the same time and make it even worse. now people start defaulting on their mortgages. banks don’t have enough to cover the loans. huge firms fail, everyone freaks out and tries to sell off their stocks, which drives the market down.
or at least that’s all the more I want to thype on this damn cell phone keyboard… 
eh I would be really careful what you put your cash into. ford and chevy might be good buys with them being as low as they are. might want to wait until their credit rating b.s. is over though. Or if you listened to that crazy fucker ron paul and bought a bunch of gold a year ago you’d be in REAL good shape right now.
naw. will get pretty shaky for the next 6months. if we would do like dr. paul says and return to sound fiscal policy, get rid of the fed; move back to a gold standard, and do a SERIOUS downsizing of the govt and its budget. also gas prices are going to tank as well which will be huge for Joe Six-Pack.
dow jones down 361 now. 25 min to opening bell… :hsugh:
warren Buffett emphasized the non-productive aspect of gold in 1998 at Harvard: “It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” In 1977 Buffett was also quoted as saying about stocks, gold, farmland and inflation: "stocks are probably still the best of all the poor alternatives in an era of inflation - at least they are if you buy in at appropriate prices.
Oh yeah…that’s gonna happen…not with the assholes that we keep electing…
Not that we have much of a choice mind you…especially this November!!
Hmmmm…asshole #1 or asshole #2…tough decision!!
so basing a currency on a worthless piece of paper that can be manipulated very easily makes more sense? if these banks weren’t lending out imaginary money and totally causing the housing bubble to blow up to giant proportions then we would not be in this mess.
Along with what Mr. Star said (which was very good), home values were also overly assessed and the market seems like it was forecasted to do a lot better than they were. The banks loaned the money out figuring that with values on the rise, even if they lessee couldn’t follow through and ended up foreclosing, the house would be worth enough that the bank would still make their money. Home values dropped and all that loaned money is gone.
Someone please correct me if I’m off on this…
dow down 700 points right now. yikes. it was at 600 when I started typing this post…
Poor speculation is what got us here. A newly aware populous will work us out of the hole. There is no quick fix via upcoming elected officials.
844 down in the open. all main financial ins. is down. Tech’s seem to be holding. ression i say yes. I am dealing some mining, oil, and mortage INS companies. I sold Monday, needed to make sure I had my closing money… But will buy more on the dip… check out TMA, and sca, kog, vrnm. Great Day trader gainers.
We are more leveraged now than we were before the crash in 1929 which, for all you history buffs, took 6 years to bottom. If you consider 2001 the start of this shit, then maybe you could say we’re getting close to the bottom, but the Dow’s peak of 14,200 back in 2007 seems to tell a different story.
Hold on…it may be a rough ride.
I’ll be very scared if it drops below 7000, it keeps jumping down but then recovering slightly. As bad as it is, if you know what you’re doing you can make some decent money considering how low some prices are. Some of these companies are not “guranteed” to make a big rebound but at least have the backing to weather the storm.
I’m trying to step my game up in investign and look to see what will be good stock to invest in for the up and up (eventually)
X2
In the mean time enjoy the free fall of oil prices while you can.
I think it will take a few weeks for the dow to bottom out, but once it does i think within a few months we’ll be well over 10,000 again. I think its more speculation because the banks are freaking out compared to what the economy is really doing. The 14,200 point mark was more inflation then actually being that high economy wise.
fix the economy. legalize :shaggy: