Posted on 09/15/2008 1:16:57 PM PDT by illiac
Bad day for Wall Street
(Excerpt) Read more at finance.google.com ...
>>The basic structure of the economy is still solid.<<
Mmmm hmmmm. The bigger they are, the harder they fall.
We are looking at a perfect storm, economically and politically. This Christmas is going to be a retail disaster of epic proportions, IMHO. We got a hint last year.
Cost averaging...
“There’s plenty of good buys in the financial sector.”
Isn’t that ‘good byes’, as in good bye to your money..?
These frickin morons like a couple of the idiots on here only act to spread panic. Look at Matt Drudge today. These JOKERS are causing panic and that is going to make things much worse.
I am willing to bet you that a significant 75% portion of our loss in the market today was based on panic. Never mind the US dollar is recorvering and oil is down. and all other indicators point toward recovery. This isnt 1929. CALM DOWN/
I am furious today.
The market fears that W won't be retiring soon enough.
Nope... people still have real money.
Don’t speak too soon. The first day is never the worst day in situations like this. Hold on to your hats—we are in for a wild ride. Let’s hope Paulson is as good as his Goldman resume suggests he is.
I hate to say this. but you are full of it. I hope nobody from Wall Street is reading your garbage. The last thing we need is more panic right now.
>>As in 1929 style crash, and resultant depression?<<
Yup. Maybe worse. We have been in deflation for a while now.
absolutely right!...most of us wouldn’t last a month...I’ve got a 7 figure worth in investments and they don’t mean crap....they’re just monthly statements from banks/brokers...scraps of paper...we keep $5000 in cash/silver on hand but how long would that last?...not very....the dominos are starting to fall now...and it will be very ugly before it’s over.
The government didn't bail anyone out for the same reason the Romans had lions eating Christians for entertainment.
Encouraged by Dems on the banking and finance committee to make bad loans to deadbeats. This was caused by government involvement in the economy.
Yeah, I’ll prolly catch it from both ends. My house value is in the toilet and Merril Lynch manages a couple times six figures of my 401K plan. It don’t look good for early retirement.
For weeks now IBD has been telling their readers to go 100% cash and get buying opportunities picked out for the next rally. For me today's trading was a dream come true --a great shake-out, and we've still got long term support growing at over 10% annually. Something else to remember is that the current bear market no where near as bad as the Clinton bubble or even the Carter malaise; I'm ready to pounce on the next confirmed rally.
This is why being a poor boy ain’t so bad. If all of this gloom and doom makes you feel like jumping out the window, it’s no problem ‘cause you’re already living in the basement...
The Clinton bubble was a genuine disaster... This is a major opportunity..
“These frickin morons like a couple of the idiots on here only act to spread panic. Look at Matt Drudge today. These JOKERS are causing panic and that is going to make things much worse.
I am willing to bet you that a significant 75% portion of our loss in the market today was based on panic. Never mind the US dollar is recorvering and oil is down. and all other indicators point toward recovery. This isnt 1929. CALM DOWN/
I am furious today.”
Amen! The doomers seem to relish in their ability to create panic. We’ve seen this over and over with global warming, peak oil, bird flu, etc.
The economy will absorb this and will end up being stronger than ever. The doomers on the otherhand will simply move on to the next “crisis”.
IBD is without question the best financial publication around.
Time for bargain hunting.
>>Nope... people still have real money.<<
Some of us do. Don’t expect us to spend it like drunken sailors though. Frugal is the new chic!
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