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Dow skids below 11,000 level on rate worries
Reuters via Yahoo ^
| 6/6/06
| Reuters
Posted on 06/06/2006 9:02:56 AM PDT by philsfan24
click here to read article
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To: stephenjohnbanker
Stocks fell all over the world today. Money moves globally. The U.S. is connected to everything, everywhere. Major home builder stocks are getting hammered.
[Learn More?] It will get worse sooner than later. Mortgage lenders are already laying off thousands of people. Ameriquest closed all 290+ state offices last month. The company engineered a settlement for pennies on the dollar in a huge class action for bilking homeowners. The former CEO retired with a golden parachute. He was a major donor to both political parties. He also worked out an ambassadorship appointment from GWB.
Isn't it nice to have money?
21
posted on
06/06/2006 9:51:58 AM PDT
by
ex-Texan
(Matthew 7:1 through 6)
To: ex-Texan
""Isn't it nice to have money?""
ahem......uh yeah : )
My background is in international finance in Europe, Asia, and, of course, the good ol USA. Your post is 100% accurate.
22
posted on
06/06/2006 10:02:15 AM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: AdamSelene235
"We like short shorts" : )
23
posted on
06/06/2006 10:03:29 AM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: philsfan24
This is getting ridiculous. I wish Bernanke would just do his job and keep his mouth shut about rate hikes. This guy needs to keep of CNBC. I guess he hasn't learned yet that what he says on talk shows negatively impacts those of us with stock investments. Of course the MSM will make the most of the Dow dipping below 11,000, even as they ignored the big run up last month and in April.
24
posted on
06/06/2006 10:03:58 AM PDT
by
MikeA
(Not voting in November because you're pouting is a vote for Nancy Pelosi for Speaker of the House)
To: philsfan24
Gotta love the unconstitutional and corrupt Federal Reserve. I keep hearing folks gripe that oil prices are going to ruin the US economy...
Hey folks, how about the Federal Reserve? 100% of the perceived inflation in the last year is based on fuel prices - a factor that the Fed has no control over and the government's continual printing of money. But instead of letting well enough alone, they have chosen to continue to raise rates.
And this coming from someone who has sworn off credit other than for automobile and home (no revolving debt).
25
posted on
06/06/2006 10:19:11 AM PDT
by
TheBattman
(Islam (and liberalism)- the cult of Satan and a Cancer on Society)
To: MikeA
It better for the markets if the shake out comes earlier rather than later. Real estate is already shaking out: Like a huge tanker on the high seas running at 20 knots, it takes time to come to a full stop. On the other hand, stock markets react instantly to bad news. Very BAD news travels instantly in cyberspace. I posted a link yesterday to a report about a physicist who predicted home value will fall dramatically. All the way back to 2001 - 2002 values. This cycle will take about ten years. The smart money has already moved on. Get ready for the ride of the Century.
26
posted on
06/06/2006 10:23:17 AM PDT
by
ex-Texan
(Matthew 7:1 through 6)
To: stephenjohnbanker
27
posted on
06/06/2006 10:35:12 AM PDT
by
finnman69
(cum puella incedit minore medio corpore sub quo manifestu s globus, inflammare animos)
To: finnman69
""Population loss. San Francisco continues to lose population at the fastest rate of any city in the US and most of those are professional jobs. The problem is not only the dot-com crash, but also the outsourcing technical jobs to India, which continues at a frantic pace as corporations realize they can pay an Indian only 20% of what they must pay a similarly qualified employee in the Bay Area.""
And away we go!
28
posted on
06/06/2006 10:38:18 AM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: stephenjohnbanker
29
posted on
06/06/2006 10:38:24 AM PDT
by
finnman69
(cum puella incedit minore medio corpore sub quo manifestu s globus, inflammare animos)
To: philsfan24
Even if Bernanke had kept his mouth shut, you can't hide a mountain of inflation offshore that is fast approaching our shores.
The good news - your debts will be easier to pay off with devalued dollars.
BUMP
30
posted on
06/06/2006 10:38:34 AM PDT
by
capitalist229
(Get Democrats out of our pockets and Republicans out of our bedrooms.)
To: stephenjohnbanker; finnman69
31
posted on
06/06/2006 12:28:54 PM PDT
by
ex-Texan
(Matthew 7:1 through 6)
To: finnman69
This morning I heard the new Fed Dude say the drop in the stock market was "way overdue" and signaled more tightening of the fed funds rate. Fed Dude is on a mission to strangle inflation.....yeah....I guess it never occurred to this brain surgeon that the main reason for our current inflation is not salaries or real estate but the PASSING ON OF THE HIGHER COST OF FUEL TO THE CONSUMER!!!!
32
posted on
06/07/2006 6:49:27 AM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: stephenjohnbanker
No, BB is doing the right thing. Point 25 basis points is not an alarming increase, especially when it's common knowledge.
Bernanke's got the courage to defy too powerful Realtor Monopoly, AKA, the real estate lobby. Good for him! Kudos!
Oh, and BTW, have you sold your overpriced home yet? Time is running out! Tick,tick,tick. Too late!
To: Concentrate
I sold my overpriced home on the beach last June at the peak for a 500% profit, thank you.
34
posted on
06/08/2006 3:40:55 PM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: stephenjohnbanker
To: Concentrate
I have been in real estate for 25 years, and I knew it was time to bail : )
36
posted on
06/09/2006 4:07:58 PM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: gipper81
Greenspan did not increase interest rates because of irrational exuberance.
He increased rates because that's the only way to keep foreign investors buying T-bills at the treasury auctions.
And if the dollar falls more, the cycle will continue, like a snake eating it's own tail.
37
posted on
06/09/2006 4:11:18 PM PDT
by
djf
(I'm not Islamophobic. But I am bombophobic. Same thing, I guess...)
To: stephenjohnbanker
And I've been studying economics and real estate for about 20 years, so I bailed, too.
To: Concentrate
And a hearty B U M P to your wisdom and good fortune!
39
posted on
06/09/2006 4:14:55 PM PDT
by
stephenjohnbanker
(If you got Sowell, you got Soul !)
To: djf
Short term interest rates after 9/11 were kept too low for too long, hence the housing bubble. Now the dollar is worth less compared to other currencies. Ben is going to save the dollar by increasing interest rates and killing speculation in the housing market, and stock market.
Expect ST-IR to keep going up. We need them to attract capital, so our economy can remain competitive.
Cash is King! (Nobody has it-Nobody wants it, just yet)(Buy low...Sell High) :)
Look around.. what is undervalued? Stocks?...no. Housing?...definitely not...Gold....no. Bonds? I don't know.
The United States Dollar?...BINGO! DING, DING, DING!
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