Posted on 07/18/2002 11:01:35 PM PDT by Uncle Bill
"Paranoia will destroy ya."
Sell those stocks! It'll make it cheaper to purchase!!
The Big Bad Bear
"Seldom have the unwanted words of a Cassandra been more ignored than Alan Greenspan's speech on "The Challenge of Central Banking in a Democratic Society." In that speech, given on Dec. 5, 1996, he coined the now-famous phrase "irrational exuberance" in reference to "unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade."
It is worth noting that on that day of warning, the Dow opened at 6422.90, 19.38 percent lower than last Friday's catastrophic open of 7967.20. This is a clear indication that the market not only can continue to go down, but probably will."
**TODAY'S POLL**
Where is "the bottom" on the Dow?
We're there. - 484 votes (12%)
No lower than 8,000 - 646 votes (16%)
No lower than 7,500 - 724 votes (18%)
No lower than 7,000 - 632 votes (16%)
Below 7,000 - 1443 votes (37%)
3929 people have voted so far.
Falling stocks may hurt Japan banks - Hayami
Mitsubishi Tokyo Financial May Lose Y17 Billion On WorldCom
Yen Falls; Japan May Sell Currency to Foster Export-Led Rebound
J
Dow 7,784.58 -234.68 (-2.93%)
Nasdaq 1,282.65 -36.50 (-2.77%)
S&P 500 819.83 -27.91 (-3.29%)
10-Yr Bond 4.467% -0.098
NYSE Volume 2,166,985,000
Nasdaq Volume 2,350,736,000
Quote data provided by Reuters
Brokers: E*TRADE Securities -
Scottrade - TD Waterhouse - Datek
Wall Street Plunges Another 3 Percent
Volatile Market Ends at 5-Year-Low
Stocks Drop Again as Wall Street Has Another Volatile Day
Wall St. Damage Ripples Across the Population
Eurostocks fall to worst close since Oct 1997
GLOBAL MARKETS-More misery for stocks as bonds, gold rise
Investor optimism sinks to new lows
Harried investors flee stock funds - Bonds funds score record inflows amid downdraft
Airlines end in the tank again
Brazil stocks down 6.6 pct on U.S. markets, election fears
Toronto stocks freefall as confidence fades
The Incredible Shrinking Stock Market
The New York Times
By SETH W. FEASTER
July 21, 2002
Notice how no one is calling this a "correction" anymore? The corporate greed heads have shot their wad, no telling how long the meltdown will continue now.
I really feel for all the pensioners who have seen it all go up in smoke. My next door neighbor was planning on retiring here in a year or so but now he says he's stuck working for well into the distant future.
Steal with a gun and it's the shackles for ya! Steal with a pen and it's "Have another martini, Mista Skilling!". Just plain sick.
J
I guess they call it an unusual financing technique. Can you imagine a bank robber asking a teller, give me all your special purpose vehicles? If he was lucky, the teller would reply, we don't have any auto repossessions on hand right now.
Stocks See Fresh Lows, Fear Grips Street
Markets fear action against Salomon analyst
Telecoms sector reels from WorldCom's woes
Fear and Loathing on Wall Street
Dun & Bradstreet second qtr. profits fall 72 percent on charge
Airlines May Post Losses of $6 Billion This Year
Could airline bailout backfire?
Kmart Posts $137M Loss in June
Dow falls 234 in third straight triple-digit selloff
GLOBAL MARKETS-Fear hammers stocks around globe, bonds firm
The bull’s 18-year gain is cut in half
Stocks' Collapse Raises Questions About Fed's Role - Fox News
Buy Maalox !!!!!
That's kinda nearly tied with "Buy Pitchforks!!!"
The D's and the R's will not let that happen.
That's because the American people are in love with socialism, ponzi schemes, and a great desire to be lied to by politicians. To do it over and over again is the definition of insanity.
Well, I WAS going to make the suggestion that GWBush get some assistance and advice from his daddy's aces; Darman, Baker, Greenspan, a few of them, but then I noted this line in your reply --- "To do it over and over again is the definition of insanity." So, nevermind.
Now, Clinton is STILL at fault, even for companies that weren't influenced by HIS mob.
I just can't figger it out.;-)
There was no promise made, the part you played, the chance... you took..---Pink Floyd
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