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-- DOW below 10,000 for the first time in 4 years
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quote:

Originally posted by pkcRAISTLIN Can I just point out that australia has an evil floated currency and we have a budget surplus of billions of dollars? Its not the system that's the problem, it is how it is managed

Yea, we know, Australia is the shizzle...

quote:

Originally posted by pkcRAISTLIN if you guys were on the gold standard right now you would be more fucked than totally fucked.

True. But a gold standard would never have allowed a multi-trillion dollar credit bubble to form in the first place. Companies and government would not have been to allowed to loan such a ridiculous multiple of their actual assets. The amount of "money" created over the past 10 years was an illusion..and now that the illusion has been shattered we are in for a world of pain.

Going to the gold standard now would be a disaster, I agree...but only because we have been addicted to an endless supply of paper for so long, and because the rest of the world is still clinging to the dream that this system can be saved. Governments and central banks are going to keep fighting the correction..keep intervening in the markets, nationalizing industries, printing, inflating, and praying that things will be ok (they won't).

A competitive devaluation of paper currencies is in the future for all of us. This means massive inflation. You may not want to believe it but I hope you will at least take some small steps to prepare for it.

Japan's market is flirting with -10%

quote:

Originally posted by iammesol Japan's market is flirting with -10%

Can't wait for the European market to open...and then our market...

quote:

Originally posted by inconspicuous it's under nine thousaaaaaaaaaaaaaaaaaaaaaaaaaaaaaand

The whole economy is screwed , I know the Dow Jones is looking bad but so is the FTSE 100, I was expecting the markets to recover when Mr Brown injected �500,000,000,000 yes that's �500 Billion into the banking system and nothing has improved also with the Icesave bank going under lots of local councils are missing millions.

Also the property market isn't looking to good either there are lots of of people like myself with massive mortgages but with declining house prices I soon could be in negative equity in a few years. As for Interest rates i was suprised the see the USA with a 1.5% interest rate thats is so low and you guys are still having problems.

Im not sure whats next as nobody wants to invest or buy , If you buy shares now you could be waiting many years to see a return maybe 10-20 years who knows.

*ucked and this is only the beginning

quote:

Originally posted by Krypton Can't wait for the European market to open...and then our market...

FTSE down 8.86% @ 9:22am eastern

The price of gold just surpassed the S&P500.

Next stop DOW?

opened below 8000.

Stock traders are overreacting in typical stock trader fashion. Bad news breeds more bad news, overreaction breeds more overreaction. People are selling off stocks in companies that are fiscally sound just because everyone around them is selling. The major issue right now is the credit markets. None of the $700 billion from the US Government has flowed into the markets yet. Personally, I feel that those in Congress who voted against the "bailout" initially for partasin reasons only to vote for it 5 days later were derelict in their duties and should be removed from office. Five days of inaction was five more days of uncertainty, five more days of delay in getting cash flowing, and has made the short term crisis many times worse.

However, I believe this is a short term crisis in the equities markets anyway. This is the time for smart investors to take advantage of the panic selling of idiots. I don't know if I would be dumping cash into bank stocks right now but there are plenty of bargins to be had and I would be surprised if the DOW and S&P haven't fully recovered from this crash within 1-2 years.

The money has to flow to the right places so banks can start lending again. That is the solution to this crisis.

GM and Ford are going under. GM's stock is at it's lowest level since 1950, and isn't stopping.
Much worse than any bank, seeing how they employ hundreds of thousands of people in America, let alone the world.

Iceland. Fucked.
Pakistan. Fucked.
South Korea. Fucked.

Riots are reported in China since October 7th.
http://www.rte.ie/news/2008/1008/hongkong.html

DON'T WORRY GUYS, IT'S JUST SOME MARKET CORRECTION. GO BACK TO SLEEP.**


**This Statement is Bullshit

quote:

Originally posted by Capitalizt True. But a gold standard would never have allowed a multi-trillion dollar credit bubble to form in the first place. Companies and government would not have been to allowed to loan such a ridiculous multiple of their actual assets. The amount of "money" created over the past 10 years was an illusion..and now that the illusion has been shattered we are in for a world of pain. Going to the gold standard now would be a disaster, I agree...but only because we have been addicted to an endless supply of paper for so long, and because the rest of the world is still clinging to the dream that this system can be saved. Governments and central banks are going to keep fighting the correction..keep intervening in the markets, nationalizing industries, printing, inflating, and praying that things will be ok (they won't). A competitive devaluation of paper currencies is in the future for all of us. This means massive inflation. You may not want to believe it but I hope you will at least take some small steps to prepare for it.

You just supported what pkc said about reparations being the reason for hyper-inflation in Germany (something I was aware of long ago. It is single-handedly the most influential factor in Hitler coming to power), yet you then go on about how the gold standard is good.

Not only is the gold standard a disaster, it is unfeasible. There is not enough gold in the world to support ANY western or large economy.

quote:

Originally posted by gehzumteufel You just supported what pkc said about gold standard being the reason for hyper-inflation in Germany

WTF buddy? The gold standard = hyper inflation? Germany went OFF the gold standard during the war and printed endless amounts of paper to fund their activities. This is what led to the collapse in Weimar and the nazi revolution. You've got some reading to do.

http://en.wikipedia.org/wiki/Hyperi...nd_the_currency

quote:

Originally posted by Capitalizt WTF buddy? The gold standard = hyper inflation? Germany went OFF the gold standard during the war and printed endless amounts of paper to fund their activities. This is what led to the complete collapse in Weimar and the nazi revolution. You've got some reading to do. http://en.wikipedia.org/wiki/Hyperi...nd_the_currency

Holy fuck my brain got ahead of what I was typing. Oops lol

edit//fixed. I meant reparations.

quote:

Originally posted by Realist GM and Ford are going under. GM's stock is at it's lowest level since 1950, and isn't stopping. Much worse than any bank, seeing how they employ hundreds of thousands of people in America, let alone the world. Iceland. Fucked. Pakistan. Fucked. South Korea. Fucked. Riots are reported in China since October 7th. http://www.rte.ie/news/2008/1008/hongkong.html DON'T WORRY GUYS, IT'S JUST SOME MARKET CORRECTION. GO BACK TO SLEEP.** **This Statement is Bullshit

Stock price has nothing to do with GM going under or not. Even if the company had to file for bankruptcy it would not cease to operate. This is the kind of flawed thinking causing the panic selling on Wall Street right now.

GM has the same issue as any other company does, it cannot raise capital for its short term needs. Get the credit markets flowing again and the problem goes away.

quote:

Originally posted by XaNaX Stock price has nothing to do with GM going under or not. Even if the company had to file for bankruptcy it would not cease to operate. This is the kind of flawed thinking causing the panic selling on Wall Street right now. GM has the same issue as any other company does, it cannot raise capital for its short term needs. Get the credit markets flowing again and the problem goes away.

Unfortunately the problem for GM and Ford is not the credit issue. It is the fact that they mostly have a stale product offering, depend on SUV and truck sales too much, don't bring over models that are small, affordable, fuel-efficient vehicles that over seas sell like hotcakes in the US. Minimal engineering changes would need to take place, and can be quite cost effective to bring over the pond.

quote:

Originally posted by gehzumteufel Unfortunately the problem for GM and Ford is not the credit issue. It is the fact that they mostly have a stale product offering, depend on SUV and truck sales too much, don't bring over models that are small, affordable, fuel-efficient vehicles that over seas sell like hotcakes in the US. Minimal engineering changes would need to take place, and can be quite cost effective to bring over the pond.

Yes I agree, their long term problem is that in a rather short period of time the type of vehicle desired by the world's largest auto market shifted rapidly from large trucks and SUVs to smaller, fuel efficient cars. Ford and GM both have challenges ahead of them in retooling their product lines to what the customer wants today.

The issues impacting them right now and the reason their stocks are taking a beating is their inability to raise short term capital due to frozen credit markets as well as their inability to sell cars and trucks because customers can't get loans for them (also because of frozen credit markets). Fix the credit markets and the short term problems go away so they can start working on the long term ones.

How would you like to be an auto dealer right now sitting on a stale inventory of a couple hundred cars they can't sell with floorplan loans coming due and no access to credit to extend those loans. Things are bad all over in the automotive industry.

Gentlemen:

http://brokershandsontheirfacesblog.tumblr.com/

edit // I would also like to point out that the failing stock markets aren't affecting me whatsoever (my 401k I suppose, but I'm only 24 I got a good while till I have to look at it 'seriously'). Working in sports entertainment rocks. Suck it financial industry.

quote:

Originally posted by bas Gentlemen: http://brokershandsontheirfacesblog.tumblr.com/ edit // I would also like to point out that the failing stock markets aren't affecting me whatsoever (my 401k I suppose, but I'm only 24 I got a good while till I have to look at it 'seriously'). Working in sports entertainment rocks. Suck it financial industry.

My 401K has been a'tumbling. Sucks.

quote:

Originally posted by Ygrene My 401K has been a'tumbling. Sucks.

That's ok. When you're old I'll just build a room above the garage and you can live there! Ol' Senile Willy is what we'll call you.

quote:

Originally posted by XaNaX Yes I agree, their long term problem is that in a rather short period of time the type of vehicle desired by the world's largest auto market shifted rapidly from large trucks and SUVs to smaller, fuel efficient cars. Ford and GM both have challenges ahead of them in retooling their product lines to what the customer wants today. The issues impacting them right now and the reason their stocks are taking a beating is their inability to raise short term capital due to frozen credit markets as well as their inability to sell cars and trucks because customers can't get loans for them (also because of frozen credit markets). Fix the credit markets and the short term problems go away so they can start working on the long term ones. How would you like to be an auto dealer right now sitting on a stale inventory of a couple hundred cars they can't sell with floorplan loans coming due and no access to credit to extend those loans. Things are bad all over in the automotive industry.

While I agree that the credit crunch hasn't helped them, if they had much better sales, products, etc., they never would have been in this dilemma.

I do concede though, that in the short term we need to loosen up the credit markets.

quote:

Originally posted by Trancealot edit this thread title. "DOW below 9,000 for the first time in 5 years"

"DOW below 8,000 for the first time in 5 years"
LINK

The overall deficit clock in manhattan is too small meaning it is going up and up and are stock market is going down and down. Sounds fishy


on a lighter note my gf told me this joke last nite:
A priest and a rabbi are walking down the street and they both see a young boy. The priest says to the rabbi I want to screw him. The rabbi says out of what? Cor worthy??

You spelled Rabbi wrong.

Don't be such a fuckin' Jew.

quote:

Originally posted by Frenchie Don't be such a fuckin' Jew.

LOL

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