I'm not glamorizing this looming recession either, this directly affects my business and watching this unravel for the last 6 months has been shitty.

This won't be just tied to subprime meltdown, mortgages companies, foreclosures, etc, this will spill out into many areas of our economy over the next year or two.

And to add insult to injury we're dragging down other country's economies with us:

http://bloomberg.com/apps/news?pid=...L55U&refer=home
http://bloomberg.com/apps/news?pid=...VLac&refer=home
http://bloomberg.com/apps/news?pid=...ww&refer=stocks
http://bloomberg.com/apps/news?pid=...us&refer=stocks
http://bloomberg.com/apps/news?pid=...dk&refer=stocks







stay tuned: www.mortgageimplode.com

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I sold all of my stock about 3 weeks just as the market was about to soften up. Sure enough, my main stock dropped over $2 a share on Monday but I had already cashed out before taking the loss.

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SERVARE VITAS

quote:

Originally posted by Electrophile I sold all of my stock about 3 weeks just as the market was about to soften up. Sure enough, my main stock dropped over $2 a share on Monday but I had already cashed out before taking the loss.

yeah some friends of mine did the same thing, just in time too...

more news:
http://www.bloomberg.com/apps/news?...efer=realestate
http://www.forbes.com/feeds/ap/2007.../ap4026187.html

Shares of Countrywide Countrywide Financial Corp, CFC, were trading down $3.19, or 15 percent, to $17.90 in morning trading on the New York Stock Exchange. They began the year at $42.45.

http://www.cnbc.com/id/20294824

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Was it smart to give easy credit to everyone with a heartbeat? For those looking to buy a home sometime in the near future, be informed:

http://thehousingbubbleblog.com/

But it's not just housing that's affected, it's our entire economy, as well as international. Many 401Ks will be taking a big phat dump, including mine. Oh wait, it already has for the past few weeks, more pain to come for the next few years.

quote:

Originally posted by ninetyninej stay tuned: www.mortgageimplode.com

Be careful of those hedge funds, but it's probably too late anyways.

http://hf-implode.com/

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www.GenerationTrance.com

*Depeche Mode* Appreciation

quote:

Originally posted by djGT Was it smart to give easy credit to everyone with a heartbeat? For those looking to buy a home sometime in the near future, be informed: http://thehousingbubbleblog.com/ But it's not just housing that's affected, it's our entire economy, as well as international. Many 401Ks will be taking a big phat dump, including mine. Oh wait, it already has for the past few weeks. Be careful of those hedge funds, but it's probably too late anyways. http://hf-implode.com/

Yeah, thats right ml-implode.com added hf-implode.com.

Bear Stearns hedge fund was reduced to rubble last month and merrill lynch reported that another hedge fund is about to melt down very soon.

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Check out this site for an interesting read about the current economy:

http://globaleconomicanalysis.blogspot.com/

Wherever we're headed too, I hope the last stop isn't the next Great Depression.

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www.GenerationTrance.com

*Depeche Mode* Appreciation

quote:

Originally posted by djGT Check out this site for an interesting read about the current economy: http://globaleconomicanalysis.blogspot.com/ Wherever we're headed too, I hope the last stop isn't the next Great Depression.

Yeah, in that YouTube clip a Moody's investment analyst was asked when is the last time we saw a year over year drop of this scale and he said "you'd have to go back to 1933 to the great depression."

At this point nothing would surprise me.

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selling ur stocks just because the market it down is not the smart way to invest at all. if ur not planning on retiring right now, what the market is doing should be of no concern. im 23 and continually invest monthly with dollar cost averaging and it doesnt bother me at all when the market goes down, because all that means is that the stocks are "on sale" right now and when the market comes back up ill have bought even more shares from it being down. unless ur 60-65 and planning on retiring soon, this shouldnt matter at all to u.

Sorry about your business, but on the bright side..

We knew this was coming because of all the subprimes, interest only and other bullshit they shove down the throats of the uneducated, fresh out of college.. etc.

maybe i'll be able to buy a house now.

p.s. I dont play stock markets.

p.s.s. ok I lied.. I forgot about my 401k... and bonds..



but still, shame on the morgage companies and the housing market.

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-Chris
"the night moves me" NIGHTMOVES.ME nightlife+lifestyle photography

^^ Agreed! Buy low sell high, if you didn't already sell out back when we were up 14% for the year, it is probably not advantageous to sell out now, only to buy higher later. I say it's just jittery investors. The reason housing prices have decreased now, is TOTALLY different than the reasons during the great depression. It's people reporting news and making things sound bigger than they actually are. Investors are just too jittery imo...

quote:

Originally posted by gimmebeatz selling ur stocks just because the market it down is not the smart way to invest at all. if ur not planning on retiring right now, what the market is doing should be of no concern. im 23 and continually invest monthly with dollar cost averaging and it doesnt bother me at all when the market goes down, because all that means is that the stocks are "on sale" right now and when the market comes back up ill have bought even more shares from it being down. unless ur 60-65 and planning on retiring soon, this shouldnt matter at all to u.

you should invest heavily into Countrywide then (symbol: CFC)

buy Accredited (symbol: LEND) and NovaStar (symbol: NFI) stocks too, hurry!

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i sold ALL my stocks this morning, some at a decent loss . i've been too busy with work to research and follow my stocks lately (i'm kind of a wannabe day trader, or rather a weekly trader) and while i had shifted over into some solid stocks like BA, KO, CL... when I saw those moving down to more than just reactionary levels, I decided that I don't want to be babysitting my portfolio right now.

In general, I'm one of the most optimistic about the foundation for the US economy, and that we can withstand blows more easily than other nations/regions economies, but it's all just a bit to screwy lately.