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Dow drops -500+ points!

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jojobean
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04 Aug 2011, 3:19 pm

http://money.cnn.com/2011/08/04/markets ... /index.htm

d@mn! there goes progress!! ! They say this could go into anouther recession.


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04 Aug 2011, 3:42 pm

Are you looking to sell your shares right now? If not, then really this is either a non-event or if you are buying, a blue light special on Wall Street to get some stocks on the cheap.

"Be greedy when others are fearful, be fearful when others are greedy!"
Warren Buffet



jojobean
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04 Aug 2011, 4:17 pm

demeus wrote:
Are you looking to sell your shares right now? If not, then really this is either a non-event or if you are buying, a blue light special on Wall Street to get some stocks on the cheap.

"Be greedy when others are fearful, be fearful when others are greedy!"
Warren Buffet


I have heard that said before...I suppose it is true cuz he knows how to play the stocks.
however the stock market also is a future indicator of the economy in the next few months.
It takes alittle while to roll down wall street to main street.

Jojo


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04 Aug 2011, 7:48 pm

jojobean wrote:
http://money.cnn.com/2011/08/04/markets/markets_newyork/index.htm

d@mn! there goes progress!! ! They say this could go into anouther recession.


All thanks to this guy:
Image



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04 Aug 2011, 7:55 pm

And tomorrow is FRIDAY, a favored day for market crashes.

It is a reasonable response to govenment cuts, unemployment being the big one, that are going to suck the life out of the economy.



jojobean
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04 Aug 2011, 8:06 pm

Blue_Jackets_fan wrote:
jojobean wrote:
http://money.cnn.com/2011/08/04/markets/markets_newyork/index.htm

d@mn! there goes progress!! ! They say this could go into anouther recession.


All thanks to this guy:
Image


How is that Obama's fault?? It has more to do with european world bank and the toddlers in the house and congress than anything.

Obama was practically begging them to get their heads out of their @sses.

Not that I think Obama is all that and then some, but this one is not his fault except giving too much ground. I dont know why repeublicans hate Obama so much cause he gives into them more than he supports his own party.

Anyway I still dont see how this can possibly be put on Obama's head.


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04 Aug 2011, 9:43 pm

Image

jojobean wrote:
How is that Obama's fault?? It has more to do with european world bank and the toddlers in the house and congress than anything.

Obama was practically begging them to get their heads out of their @sses.

Not that I think Obama is all that and then some, but this one is not his fault except giving too much ground. I dont know why repeublicans hate Obama so much cause he gives into them more than he supports his own party.

Anyway I still dont see how this can possibly be put on Obama's head.

Obama insisted that the debt ceiling be raised so that he has money to be a sugar daddy for his diehard support base's social spending and favorite socialist, pro-alien invader NGOs until the next election. In Obama's private pathological narcissistic dreamworld, printing up more money will make everything okay, but in the real world, there is panic that the debt is unsustainable. Obama could have got a 1 quadrillion dollar debt ceiling, but that doesn't mean the US can come up with the money to foot the bill and that's why investors are taking their money and running because they know the government can't go on the way Obama wants.


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jojobean
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04 Aug 2011, 11:04 pm

John_Browning wrote:
Image

jojobean wrote:
How is that Obama's fault?? It has more to do with european world bank and the toddlers in the house and congress than anything.

Obama was practically begging them to get their heads out of their @sses.

Not that I think Obama is all that and then some, but this one is not his fault except giving too much ground. I dont know why repeublicans hate Obama so much cause he gives into them more than he supports his own party.

Anyway I still dont see how this can possibly be put on Obama's head.

Obama insisted that the debt ceiling be raised so that he has money to be a sugar daddy for his diehard support base's social spending and favorite socialist, pro-alien invader NGOs until the next election. In Obama's private pathological narcissistic dreamworld, printing up more money will make everything okay, but in the real world, there is panic that the debt is unsustainable. Obama could have got a 1 quadrillion dollar debt ceiling, but that doesn't mean the US can come up with the money to foot the bill and that's why investors are taking their money and running because they know the government can't go on the way Obama wants.


How many times did Reagan raise the debt ceiling? I think more than once. Why is that ok for him to do it several times and Obama not to in order to avoid a disaster. Cutting money to the most vunerable is not going to make the budget ballanced.
However, I will give you credit on one thing, Obama should have never done the bank bailout, the auto bailout and the stimulus package should have been much smaller and more focused on job creation rather than free-for-all spending.
But this is what I dont like about Obama, he says he is a democrat, but he gives money to the rich and takes it from the poor. Which is usually the behavior I see from politians from the far right. He is an uncle tom.


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05 Aug 2011, 8:34 am

Inventor wrote:
And tomorrow is FRIDAY, a favored day for market crashes.

It is a reasonable response to govenment cuts, unemployment being the big one, that are going to suck the life out of the economy.


I agree with this. It was foolish to even think that the deficit was our major problem here. Jobs, that's where our focus should be. Our market is consumer based. When people are out of work, they can't spend money, demand goes down, businesses suffer. How in the world is cutting unemployment going to help anything?



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06 Aug 2011, 3:38 am

This brings up a more famous quote,

"When the streets run with blood, I buy." The Baron Rothchild.

There seems a buying oppertunity coming up. We always had a two tiered system. A few rich, and a mass of workers misdirected by being consumers.

The rich have blown it. The effect on wealth, housing for most, being unemployed for renters, is going to destroy the banks. Housing has lost a third, half are underwater, there is a glut on the market and more coming. At 25% most will quit paying. Foreclosure is an expense, taxes, upkeep, insurance, and the banks are weak now, bankrupt in fact.

The way I see it coming, I will give the bank a thousand for the mortgage, claim that for taxes, refuse to pay on more assessed value, the State can have the house, or my tax payment, and I would not insure. Banks, Insurance, and Government are Doomed!

They know it, they are just stalling for a few more paychecks, and anything they can steal. The major banks hold a lot more mortgages than Fanny and Freddie, and they are losing Billions and Billions, to quote Sagen.

It will not be sold to people out of the country, for we sell citizenship. Invest $50,000, come to America. Everyone with money did.

A broke government cannot bail out banks again. The only way to avoid total mortgage default is to write down all mortgages still held by private persons. This will bankrupt not only banks, but the stockholders.

When 2% own most of everything, they should watch what happens when they allow this to happen. Problem is they are mostly Trust Babies, never worked, and have no idea how all this works.

The problem has been known for decades, for Capital to earn 10%, we need a second Earth by 2020. Capital still exists, but bond rates are 2.6%. There is no place to earn, and lots of places to lose. With inflation, which seems to be spiking even with deflation, going over 3%, money becomes worthless. Invest a hundred million, lose 5% year.

Making money worthless automatically pays all of our debt.

Now there is just the 98% of people to deal with, and they have the vote.



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06 Aug 2011, 8:51 am

Inventor wrote:
This brings up a more famous quote,

"When the streets run with blood, I buy." The Baron Rothchild.

There seems a buying oppertunity coming up. We always had a two tiered system. A few rich, and a mass of workers misdirected by being consumers.

The rich have blown it. The effect on wealth, housing for most, being unemployed for renters, is going to destroy the banks. Housing has lost a third, half are underwater, there is a glut on the market and more coming. At 25% most will quit paying. Foreclosure is an expense, taxes, upkeep, insurance, and the banks are weak now, bankrupt in fact.

The way I see it coming, I will give the bank a thousand for the mortgage, claim that for taxes, refuse to pay on more assessed value, the State can have the house, or my tax payment, and I would not insure. Banks, Insurance, and Government are Doomed!

They know it, they are just stalling for a few more paychecks, and anything they can steal. The major banks hold a lot more mortgages than Fanny and Freddie, and they are losing Billions and Billions, to quote Sagen.

It will not be sold to people out of the country, for we sell citizenship. Invest $50,000, come to America. Everyone with money did.

A broke government cannot bail out banks again. The only way to avoid total mortgage default is to write down all mortgages still held by private persons. This will bankrupt not only banks, but the stockholders.

When 2% own most of everything, they should watch what happens when they allow this to happen. Problem is they are mostly Trust Babies, never worked, and have no idea how all this works.

The problem has been known for decades, for Capital to earn 10%, we need a second Earth by 2020. Capital still exists, but bond rates are 2.6%. There is no place to earn, and lots of places to lose. With inflation, which seems to be spiking even with deflation, going over 3%, money becomes worthless. Invest a hundred million, lose 5% year.

Making money worthless automatically pays all of our debt.

Now there is just the 98% of people to deal with, and they have the vote.


People have been awfully quiet about housing. I think it's actually in worse shape now than it was when the bubble burst. Look at the trends in foreclosures. They're behind a good 6 - 12 months. The banks say it's all backlog, but I'm not so sure. The fact is that they know these properties are no longer assets. Their values are still declining and most likely will continue to decline for many years to come. Why would the banks be in any rush to reclaim what is now a liability?

In the meantime, these properties remain vacant. No one maintains them. The values of the neighbors houses continue to decline. Short sales don't even work because the banks use over-inflated appraisals which make it impossible for a buyer to even qualify for a loan due to the appraisal guidelines from the borrower's end. Unless you've got cash to buy these properties up, you're mostly out of luck. And who uses cash to buy properties? Mostly investors who know there's no money to be made here.

They really are just stalling because there is no good solution here. I don't know about selling citizenship, but who knows, anythings possible.



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06 Aug 2011, 11:53 am

jojobean wrote:
John_Browning wrote:
Image

jojobean wrote:
How is that Obama's fault?? It has more to do with european world bank and the toddlers in the house and congress than anything.

Obama was practically begging them to get their heads out of their @sses.

Not that I think Obama is all that and then some, but this one is not his fault except giving too much ground. I dont know why repeublicans hate Obama so much cause he gives into them more than he supports his own party.

Anyway I still dont see how this can possibly be put on Obama's head.

Obama insisted that the debt ceiling be raised so that he has money to be a sugar daddy for his diehard support base's social spending and favorite socialist, pro-alien invader NGOs until the next election. In Obama's private pathological narcissistic dreamworld, printing up more money will make everything okay, but in the real world, there is panic that the debt is unsustainable. Obama could have got a 1 quadrillion dollar debt ceiling, but that doesn't mean the US can come up with the money to foot the bill and that's why investors are taking their money and running because they know the government can't go on the way Obama wants.


How many times did Reagan raise the debt ceiling? I think more than once. Why is that ok for him to do it several times and Obama not to in order to avoid a disaster. Cutting money to the most vunerable is not going to make the budget ballanced.
However, I will give you credit on one thing, Obama should have never done the bank bailout, the auto bailout and the stimulus package should have been much smaller and more focused on job creation rather than free-for-all spending.
But this is what I dont like about Obama, he says he is a democrat, but he gives money to the rich and takes it from the poor. Which is usually the behavior I see from politians from the far right. He is an uncle tom.


:roll:

Reagan's situation was different than Obama's, additionally Reagan wasn't racking up $1 trillion dollar annual deficits. Furthermore, when Reagan agreed to Democrats pushing for tax increases, he expected them to follow through with them to cut spending like they agreed to. Those spending cuts never materialized, which is the primary reason why Tea Party members were so deadset against tax increases, because of the Democrats' track record.