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Arrived: Recession (pg. 23)
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| djGT |
Scary stuff! :nervous:
Just like the DOW which fell below 8K today. :wtf: |
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| |Thrax| |
If people dont start getting their together and start saving; there will be a lot more of modern fear mongering going on.
You know I am sick of this type of crap. We are such a great hardworking nation.
We should be investing in innovation at home, ways to produce natural based fuel,clean energy.. we've been on the same path since the 40s or 50's. With the technology today I could drive a car powered by vegetable oil, but powers that be would rather work on smogging cars to make sure they pass some wild interpretation of "clean"
History lesson A. Lincoln quote" If you always look for the bad in people you are sure to find it"
The uneducated,uninformed, and the greedy will continue to hammer these talking points and start believing their own sustinance .
http://macedoniaonline.eu/content/view/4457/49/ |
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| djjoshuaallen |
| quote: | Originally posted by djGT
Scary stuff! :nervous:
Just like the DOW which fell below 8K today. :wtf: |
I think alot of investors are bracing for an Obama administration. The markets have done nothing but dive since he took office |
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| groovedaddy21 |
I think we have much further down to go. Looking at the chart, the next major support is at 7200 on the DOW and below that is near 6300. We could see 5000-6000 level in 2009.
I'm glad i got out of my 401k last year when the DOW was at 1300. So my account never went into the negative. I think my sister lost nearly 40% or $120k. |
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| ninetyninej |
| quote: | Originally posted by groovedaddy21
I think we have much further down to go. Looking at the chart, the next major support is at 7200 on the DOW and below that is near 6300. We could see 5000-6000 level in 2009.
I'm glad i got out of my 401k last year when the DOW was at 1300. So my account never went into the negative. I think my sister lost nearly 40% or $120k. |
Yeah, I pulled out all my stocks and sat on the side lines and just dabbled here and there but in the last couple months I've been buying more stocks and have been losing as much money as I'm gaining. I need to follow Warren Buffet's advice and 'wait for an easy pitch' like today and buy up beaten up stocks like ABK that is up 55% after hours and make ridiculous returns in 24-48hrs and then pull out.
I think the Dow will hit 6000 range before bottoming out. I'm glad I advised some friends to pull out their stock positions and their 401ks. I'm glad you did the right thing and didn't listen to douche bags like this guy early in the year:
| quote: | Originally posted by MikeLord
I'll also be sure to only use what i read from "public" websites that is government controlled as my only sources. not saying that its not possible we might be in one but we are a good ways away from even coming close to one (recession). You must be one of those conspiracy theory guys...
why don't you show us how smart you are and show us your own data and research. you will probably have a different opinion then this stupid stock market scare BS that is going on right now. |
lol @ "stock market scare BS" and the Dow subsequently falling nearly 40% YTD
I'm sure its getting old to some but I can't get over how short sighted this guy was. Wonder how the Kool-aid tastes. |
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| R!CH |
| quote: | Originally posted by djjoshuaallen
I think alot of investors are bracing for an Obama administration. The markets have done nothing but dive since he took office |
if this is the case, then the investors you speak of are incredibly stupid. however, the fall of the dow has nothing to do with these idiots or obama (ps he takes office on jan 20). it has to do with the real economy. if you've been following this real economy since election day, aggregate demand in this country and around the world has tanked affecting every sector of the economy from manufacturing to shipping to enterprise software and the banking that supports them all. in the port of oakland, shipping has dropped 25% in the last quarter. in the port of long beach, there's 21 acres of unsellable cars collecting dust. around the country dozens of companies have laid off hundreds of thousands of employees in the last 6 months. citigroup just cut another 53,000 jobs on monday. most state and local governments are facing massive deficits because their sales tax projects weren't even close. every economist worth his salt has said this recession is due to get worse regardless of who is/was elected. to say obama has any effect on this current economy is incredibly shortsighted. |
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| djjoshuaallen |
| quote: | Originally posted by R!CH
if this is the case, then the investors you speak of are incredibly stupid. however, the fall of the dow has nothing to do with these idiots or obama (ps he takes office on jan 20). it has to do with the real economy. if you've been following this real economy since election day, aggregate demand in this country and around the world has tanked affecting every sector of the economy from manufacturing to shipping to enterprise software and the banking that supports them all. in the port of oakland, shipping has dropped 25% in the last quarter. in the port of long beach, there's 21 acres of unsellable cars collecting dust. around the country dozens of companies have laid off hundreds of thousands of employees in the last 6 months. citigroup just cut another 53,000 jobs on monday. most state and local governments are facing massive deficits because their sales tax projects weren't even close. every economist worth his salt has said this recession is due to get worse regardless of who is/was elected. to say obama has any effect on this current economy is incredibly shortsighted. |
lol, indeed. I was being facitious:D |
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| DJ RANN |
HSBC has now shed about 800 jobs in Buffalo - but this was not because they are struggling, in fact they were one of the least affected high street banks from their wise decision not to follow all the other banks into the subprime market.
Apparently they shed the jobs from their mortgage sector, specifically the broker division as they now want to only offer self financed (HSBC funds) mortgages. Their mortgages used to be provided mainly by freddie and fannie, and some are now saying this is because HSBC thinks F&M has more serious problems to come. |
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| diskodave |
| quote: | Originally posted by R!CH
around the country dozens of companies have laid off hundreds of thousands of employees in the last 6 months. citigroup just cut another 53,000 jobs on monday. |
Everyday more and more... today:
JP Morgan 3000
Associated Press 400
Rosewood Center 300
QHC 45
Kansas City Star 10
Oregon Museum of Science and Industry 20
Sara Lee 185
Focus on the Family 200
Sandvik 2400
Trinity Structural 131
Strands 14
Evrez Steel 130
Telefonica 500
Wendy's 45
Intevac 66
Atlas Copco 12% of the workforce
Ingersoll-Rand 110
Town of Coburg 2
Seco Tools 90
Neptune Orient Lines 9% of the workforce
Brady Corp 780
Toyota (Buffalo) 120 |
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| GPC |
| quote: | Originally posted by djGT
Scary stuff! :nervous:
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This entire thread scares the out of me. Never mind what I'm seeing in the workplace :( |
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| DJ RANN |
Well this should be posted here too - Credit to miss Julia for this post:
I wanted to give everyone a heads up that if you tend to give gift cards around the holidays, you need to be careful that the cards will be honored after the holidays. Stores that are planning to close after Christmas are still selling the cards through the holidays even though the cards will be worthless January 1. There is no law preventing them from doing this. On the contrary, it is referred to as 'Bankruptcy Planning). Below is a partial list of stores that you need to be cautious about :
Circuit City (filed Chapter 11)
Ann Taylor- 117 stores nationwide closing
Lane Bryant, Fashion Bug and Catherine's to close 150 stores nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down specialty stores
J. Jill closing all stores (owned by Talbots)
Pacific Sunwear (also owned by Talbots)
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pep Boys Closing 33 stores
Sprint/Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores.
Wilson Leather closing down all stores
Sharper Image closing down all stor~s
K B Toys closing 356 stores
Loews to close down some stores
Dillard's to close some stores
For more info. and validity check this out!
http://www.snopes.com/politics/busi...oreclosings.asp |
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| ninetyninej |
http://www.bloomberg.com/apps/news?..._MbE&refer=home
Recession in U.S. Started in December 2007, NBER Says (Update2)
By Timothy R. Homan and Steve Matthews
Dec. 1 (Bloomberg) -- The U.S. economy entered a recession a year ago this month, the panel that dates American business expansions said today.
The declaration was made by the cycle-dating committee of the National Bureau of Economic Research, a private, nonprofit group of economists based in Cambridge, Massachusetts. The last time the U.S. was in a recession was from March through November 2001, according to NBER.
“The committee determined that the decline in economic activity in 2008 met the standard for a recession,” the group said in a statement on its Web site. The 1.2 million drop in payroll employment so far this year was the biggest factor in determining that start of the contraction, the group said.
Federal Reserve policy makers at their last meeting predicted the economy will contract through the middle of 2009, in line with private economists’ forecasts. If correct, the recession would be the longest since the Great Depression.
^5 MikeLord! :gsmile: |
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