Posted on 03/07/2009 9:52:29 PM PST by 2ndDivisionVet
With stocks mired in multi-year lows and the fate of General Motors and banks hanging in the balance, investors are unlikely to curb their flight from risk next week, putting Wall Street on track for another brutal sell-off.
One focal point will be a meeting between the US auto task force and GM, Chrysler and officials from the United Auto Workers in Detroit next week after auditors raised doubts about GM’s ability to survive outside bankruptcy.
Uncertainty over the plan to salvage banks will also hang over the struggling sector until more concrete details from Washington are revealed, leaving investors to fret that companies that were once pillars of the financial system will have to be nationalised.
The weak economy will likely be confirmed by a handful of economic reports, including a government report on February retail sales and a survey of consumer sentiment.
“There are, unfortunately, no guideposts to a lot of the market to allow investors to get a better sense of direction of where the market is going, where corporate America is going,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.
“Short of that, we’re going to likely have to rely on Washington. Unfortunately, it just seems like Washington’s relationship with the stock market is strained.”
“PAINFUL” MARKET
With the Dow and S&P trading at 12-year lows, and the Nasdaq sliding to 6-year lows, market watchers will be looking for signs of whether a bottom has been found, or if indexes still have another leg down to go.
This week was the fourth week of declines for all three major US stock indexes, as the Dow Jones industrial average dropped 6.2 percent and the Nasdaq composite index fell 6.1 percent. The Standard & Poor’s 500 slid 7 percent, its worst week since November.
(Excerpt) Read more at thepeninsulaqatar.com ...
I trust P/E data like I trust MSNBC to give me an Unbiased report on Obama's Plans for the Economy.
Until IT TOO becomes worthless.
Sell naked CDS against its bonds.
Sell short the company's stock.
Rinse and repeat until stock goes to zero.
Find next ailing company...
Hey Wardaddy:
I suppose it depends what market you’re in. I won’t buy anything I don’t think I can move in a reasonable time. I’m not so sure *anything* will move at reasonable rates for years to come. I’d rather buy closer to the bottom, and here in central PA, I don’t think we’ve really started down hard, yet. Prices are down maybe 25-35 percent from the top. Wanted to build, but the cost of that has not come down much at all ... yet.
Zero and his morons are not capable of turning this around, only of exacerbating it, and they are going to be around for a while. Think how long it takes for the effects of this crash to really take hold, for the job slaughter to reach peak, for the unemployment to run out. As much as they want inflation to kick in now, not gonna happen with the disappearance of so many dollars, so many jobs, in such a short time, because Zero is at the helm, and the market is teaching the moronic masses that Zero is the enemy.
I agree we can't turn this ship around in 2, 4, or 8 years. It took them nearly 50 years to create the perfect storm of opportunity. What is happening now, is the result of a long-term effort whose plan was laid out before us in the very halls of congress in the 1960s. I said the election did not feel like an election, it felt more like a coup d'etat. Ohio was in the cross-hairs of the battle and we lost the battle through our own disorganization and inability to defend this state from voter fraud.
As long as Americans are still asking "What the hell is going on," we have a chance to start to show them. But....but as much as I admire some of our conservative talk show hosts and listen to them....they are polarizing us. And that makes it easier for the "base" to be marginalized. Imagine for a minute if the left had a voice like Rush shilling their philosophy, they can't. Not because no one on their side isn't good enough, but because they'd have to reveal their real philosophy to real Americans. And real Americans don't want what they are shoving down our throats.
Rush, Levin, Beck, Cunningham, Franz to them, conservatives, owe a debt of gratitude for waking us up. Now we must wake up the rest of America, we must be the leaders in our own communities. Get out from in front this computer screen and start talking to people. Too afraid to talk to your neighbors, too afraid to be seen at a protest, too afraid to take a day off from work...too afraid to fight for freedom.
FRiends the time for fear is past. Courage is doing the right thing inspite of your fear. I often think about 9/11 and how many people could have died that day. I think about the people who chose to help others escape those towers inspite of their fear and in some cases inspite of their own personal safety. Courage.
Our country is on fire. We've taken a direct hit, again. But we will need to find the courage of 9/11 again if we want to save our people. 0bama is offering us that melted, twisted, pile of rubble. We can offer our fellow Americans the very best, our personal courage, and a hand out of the smoke, dust filled destruction.
They live like Episcopalians and vote like Puerto Ricans. That joke is kind of dated I will admit
The demographic you mention is not as dominant as it used to be say 10-20 years ago
Plenty of others wanted in on the action and they got in
Check out a commodity trading pit sometime
Wall Streets biggest demographic is Democrats. The campaign contributions for 0bammy, McCain, Hillary tell the story
It's all about "the bezzle"
I disagree. This boom started in 1983 after Paul Volcker eased up
Volker rescued America from Jimmy Carter's stupidity
This Ponzi bubble lasted about 23 years but I'll admit it only hit me in summer 2008 when oil/energy/commodities blew off. These sectors were still jazzing up a good part of the stock market
The GOP doesn’t have the strength to fight this and neither did McCain. We, the voter, has created the weakened party you call the GOP. I was told to vote for people the likes of Voinovich to keep the seat “republican.” So I did and we got a RINO. Years of this type of voting attitude set our party up for McCain. This is a core attitude that must change. No, I don’t think McCain would have the fortitude to stand against Pelosi, Reid, Frank, Dodd, etc. right now. And republicans would be taking the heat for failed policies...
The perfect storm of opportunity for them had nothing to do with the market. The market is just another tool along the way. They have planned and waited a long time to be able to point at capitalism, freedom, and call it failed.
It is not just about the economy.
Try this one one for size:
http://www.freerepublic.com/focus/f-news/1871687/posts
American economist John Kenneth Galbraith postulated that a certain amount of embezzlement is happening at any given time.....which falsely inflates an economy's total wealth.
The embezzler controls substantial resources but those he embezzled do not know they do not have those resources........both phantom figures are factored in, and displayed as total economic wealth.
Also visible in the Dutch Tulip Mania (bulbs used as currency).......and the infamous buying-on-margin that precipitated the crash of 1929.
I still maintain that investors would gain confidence if they saw the crooks who cooked the markets do the perp walk----we would see the indexes rise, as a result of making the crooks pay for their misdeeds.
But as you point out, DW----this is NOT a Democrat thing.....especially with an *** like Holder at DOJ.
We can't allow "judgemental Republicanism" now, can we? (/s)
Good rant, but may I suggest you add “Have a nice day” at the end.
btt
A 5,000 Dow is just around the corner. Imagine what the media would be saying if the stock market had tanked like this during Bush’s administration?
The movement you speak was started decades ago by the KGB and it's seeds are growing to fruition in this country and parts of Europe. The problem is it now has no real Country as it's leader with communism watered down all over the globe with capitalism.
That said, the movement will still have to run it's course like a bad bowel movement through the West. God only knows how far down the fascist path we will go before it's turned around. We may be looking at work camps and door to door military before it's over.
The Obama crowd are just useful idiots meant to destabilize the nation under the original plan and now that they have done it, watch for the dear-in-the-headlight look when Santa doesn't appear to pat them on their back for their "great efforts".
This WAR, and it is a war, cannot be won merely by voting for another politician in 2,4, or 8 years.
When I listen to laura Ingraham and others talk about the next election it makes me crazy. They can say this after this last election? This election was a fraud!!
Oh, there will be elections alright, but the republicans will be increasingly weeded out.
I agree with everything you are saying here. But, I know there are people out there who are waiting and watching. I do take heart in that. Timing is everything.
Thanks Zero!
Thanks Zero!
When you figure it by (after-Obama's done spending) tax, it's even lower. I'd be tempted to say there's negative incentive to invest. Not just fear of losing it to the market gyrations, but to the government.
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