How about that stock market?

[lawrocket 3]

Looks like things are getting worse and worse.

My wife is hotter than your wife.

[Remster 30]

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Looks like things are getting worse and worse.

Come on Jerry. Dont be so disingenuous.

This calendar year, the dow is up (not by hundreds of points, but still by 4%).

It's up 16% over the last 12 months.

Yeah, today was bad, but really, day fluctuations like this dont mean much, unless you're a day trader.

So, to say worse and worse is really taking it far.

Remster

[mnealtx 0]

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Looks like things are getting worse and worse.

Come on Jerry. Dont be so disingenuous.

This calendar year, the dow is up (not by hundreds of points, but still by 4%).

It's up 16% over the last 12 months.

Yeah, today was bad, but really, day fluctuations like this dont mean much, unless you're a day trader.

So, to say worse and worse is really taking it far.

From the AP:

"For the year to date:
The Dow is down 193.83, or 1.7 percent.
The S&P is down 57.57, or 4.6 percent.
The Nasdaq is down 96.48, or 3.6 percent."

Markets definitely took a thumping today.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[Remster 30]

Damm. My number didnt reset from to include today. Damm Google Finance!

It still is up for for last 12 months, but not by as much obviously. Thanks fro catching that, Mike.

This being said, if you want to panic, go for it.

PS: if I was in a situation with available cash, now would be a decent time to buy after a day with panicky people selling off.

Remster

[mnealtx 0]

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Damm. My number didnt reset from to include today. Damm Google Finance!

It still is up for for last 12 months, but not by as much obviously. Thanks fro catching that, Mike.

This being said, if you want to panic, go for it.

PS: if I was in a situation with available cash, now would be a decent time to buy after a day with panicky people selling off.

No problem, and I agree with your PS.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[lawrocket 3]

Yes, you have a point, Remi. The market DID increase by a lot in the last couple of years. But in the last couple of weeks it's lost about 1,400 points. Now it's a year-to-date loss of almost 200 points.

But, yes, a one-year gain of 700 points. And still almost 900 points above what it was ten years ago and a full 3,000 points above what it was after September 11, 2001.

But right now it's looking primed for a double dip. And following the same sort of schedule as the double dip of the Great Depression. Doing what FDR did had the same effect - prolonging it!

I get the sense that the stock market is looking at the "compromise" on the deficit and debt as heading down the track toward the bridge that was washed out.

From my sense? This is yet another market correction from the artificially inflated hopes of the recovery. Sure, a year ago we had a 17% drop. But consumer confidence is low.

Of course, the realization seems to have hit that there is nothing the government can do to stop it. The government's efforts to pump up the economy failed. Now its up to the market to fix it and we're now back to 2008. Three years and several trillion dollars down the drain...

My wife is hotter than your wife.

[Remster 30]

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I get the sense that the stock market is looking at the "compromise" on the deficit and debt as heading down the track toward the bridge that was washed out.

The down trend we've seen this week has, IMO, nothing to do with the US "debt crisis" that never was.

It's got everything to do with fears of more European problems (this time with Italy)

Remster

[lawrocket 3]

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f I was in a situation with available cash, now would be a decent time to buy after a day with panicky people selling off.

Depends on the cash, duddenit? Part of the problem is that people with cash aren't spending it. So the investors aren't seeing any return on investment coming up.

My wife is hotter than your wife.

[kelpdiver 2]

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I get the sense that the stock market is looking at the "compromise" on the deficit and debt as heading down the track toward the bridge that was washed out.

The down trend we've seen this week has, IMO, nothing to do with the US "debt crisis" that never was.

It's got everything to do with fears of more European problems (this time with Italy)

I don't agree - this downward trend has been going on for a couple weeks, and did not stop as investors were decided underwhelmed by the non solution adopted by Washington. The crisis re: deficit spending is certainly real. In one of the shutdowns during the Clinton Administration, the SecTreas broke the law (exceeded his authority) to prevent payment defaults. It certainly could have happened this week, which the childish leadership we have now (a far cry from what both parties gave us in the 90s).

[dreamdancer 0]

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Torn between the conflicting interests of its 17 constituent members, the European Central Bank is struggling to find meaningful responses. Far from managing to calm matters today, it succeeded only in further inflaming them.

Investors had been primed to expect intervention by the ECB in sovereign bond markets so as to prevent Italy and Spain going the same way as Greece, Ireland and Portugal, and that indeed is what Jean-Claude Trichet, the ECB president, appeared to sanction at his monthly press conference today.

But then it transpires that to the extent that there was intervention, it was confined to Irish and Portugese bonds, where the game is already up and bond purchases are going to make little or no difference.

After initial confusion over what precisely Mr Trichet meant in confirming resumption of the ECB's bond purchasing programme, investors responded accordingly. Up went Spanish and Italian spreads to levels which are now within a whisker of those that forced Greece, Ireland and Portugal to seek a bailout.

What on earth is the ECB playing at? It is almost as if policy makers are deliberately conspiring to bring the crisis to a head. If that's the intention, they are certainly succeeding. Mr Trichet's musings have caused a renewed outbreak of chaos in capital markets.

http://www.telegraph.co.uk/finance/comment/8682283/European-Central-Bank-paralysis-sparks-global-chaos.html

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[shropshire 0]

Stock market = 'Emperors New Cloths'

'Bout time started to Make things, not shift around bits of paper

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome

[Erroll 80]

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Stock market = 'Emperors New Cloths'

'Bout time started to Make things, not shift around bits of paper

Perhaps make some clothes using the Emperor's cloths?

[Channman 2]

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f I was in a situation with available cash, now would be a decent time to buy after a day with panicky people selling off.

Depends on the cash, duddenit? Part of the problem is that people with cash aren't spending it. So the investors aren't seeing any return on investment coming up.

Did I not read, somewhere yesterday that some in Europe where actually pulling money out of the banks. Just wondering if any one knows more on this?

[Andy9o8 2]

Why bitch? Won't last forever. Time to scoop up some bargains.
Lemons >> lemonade.

[dreamdancer 0]

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The Wall Street Crash of 1929 (October 1929), also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout. The crash signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries and that did not end in the United States until the onset of American mobilization for World War II at the end of 1941.

“ Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even. ”

—Richard M. Salsman

http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[Skyrad 0]

We're witnessing the price of bipartisan politics. As I said before, there will be consequences this is just the first.

When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy.
Lucius Annaeus Seneca

[lawrocket 3]

Dow down 5.55%. And the Dow got off lightly.
S&P 500 was down 6.66%.
Nasdaq lost 6.9%.

We haven't seen a 1 day total drop in the Dow since the last time Dubya tanked a stock market in 2008.

The President tried to take the bully pulpit and quell the fears. But it didn't work.

That's two days of the last three (that markets were open) that there was a massive drop. Today is the sixth largest drop of all time. Last Thursday is now bumped back to number 10. (But in terms of percentage drop, they are both still in the teens).

My wife is hotter than your wife.

[StreetScooby 5]

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We're witnessing the price of bipartisan politics

No, you're witnessing out of control spending. Obama is the only president in history whose proposed budget didn't get a single vote in the Senate. The "Tea Party" is taking a stand to save the country. Raising taxes isn't going to solve this issue. Focus should be on spending cuts, as they are orders of magnitude bigger than anything tax revenues can bring in.

We are all engines of karma

[jclalor 12]

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Obama is the only president in history whose proposed budget didn't get a single vote in the Senate.

And I bet you don't know why.

[StreetScooby 5]

S&P downgraded FNMA, FHLMC, DTCC, FICC, and a host of other institutions that rely on the fed govt for the AAA rating.

We are all engines of karma

[dreamdancer 0]

this is just terrible
(what can we do)

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[kelpdiver 2]

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We're witnessing the price of bipartisan politics

No, you're witnessing out of control spending. Obama is the only president in history whose proposed budget didn't get a single vote in the Senate. The "Tea Party" is taking a stand to save the country. Raising taxes isn't going to solve this issue. Focus should be on spending cuts, as they are orders of magnitude bigger than anything tax revenues can bring in.

We've had out of control spending before. But now we have a situation where it seems improbable that the two parties will agree to a solution, and that is the part that is driving the downgrade. Our debt to GDP ratio is a hell of a lot better than many first world nations, but we show no commitment to fixing the avalanche of deficit spending. The Tea Party isn't quite taking a stand as threatening to blow up our financial systems unless they get what they want. I don't blame them alone for this, but I view them as jokers who take no responsibility for the outcome. They won this round - Obama basically folded, but this round was a stalling round. The real fix is still TBD.

[Amazon 7]

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We're witnessing the price of bipartisan politics

No, you're witnessing out of control spending. Obama is the only president in history whose proposed budget didn't get a single vote in the Senate. The "Tea Party" is taking a stand to save the country. Raising taxes isn't going to solve this issue. Focus should be on spending cuts, as they are orders of magnitude bigger than anything tax revenues can bring in.

The S&P does not like the GOAT FUCK STUPIDITY of the Tea Baggers you guys, yes YOU voted for.

Deflect all you want.. but they placed their reasoning right where it belonged... too bad so sad.

[mnealtx 0]

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Obama is the only president in history whose proposed budget didn't get a single vote in the Senate.

And I bet you don't know why.

Of course we do - we've had y'all telling us for the last two years that any opposition to Obama's policies are RAAAACCCCIIIISTTTT!!!!!1

Ergo, the Dem-controlled Senate is racist.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[lawrocket 3]

You're probably right. But the S&P said it wanted to see $4 trillion in cuts over the next decade. I think this was more along the lines of what the tea partiers were talking about.

The S&P also had a problem with what the President said in his speech were the lines in the sand. This is a statement that always cracks me up. When a person will not cross a certain line, they accuse the other of drawing a line that the other will not cross.

And vice versa.

Note, the stock market started tanking BEFORE the S&P downgraded the US credit rating. So it's impact is not as important as others make it out to be.

My wife is hotter than your wife.