Holy Diver

Okay......


RW, where ya at with your words of positivity? I need some of that right now.


Dow plunges more than 660 to fall below 9,000 - Yahoo! News

reflexblue

Just one more 6 and it would be a fall of biblical proportions.

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mcgraw_wv

This is reaching epic proportions...

14100 to 8579 in exactly 1 year... a 40% loss in value over a year...

This crisis event may scar the market and stocks for a decade after a loss like this... I believe stagnation is next... am i right?

Fogbuster

And it could drop even more before it turns around.


Thank the CRA and stupid policies of easy credit, started under Jimmy Carter and made much worse under Bill Clinton. Opened the door to the national ponzi scheme of house flipping and dead-beat buyers. Recipe for disaster.


//

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reflexblue

If a RECESSION is prolong enough you get stagnation but its not as severe as a DEPRESSION

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mcgraw_wv

LOL!!!

You are a constant Running Joke..

Sean? Is that you? Hannity? Are you posting on here now?

FACT: The US was running at a surplus when a Republican took over
FACT: The US Economy was STRONG when a Republican too over
FACT: SubPrime Mortgages didn't exist under Clinton ( atleastt at the main street level )
FACT: This mess all occured and happened under a REPUBLICAN DOMINATED GOVERNMENT... HOUSE, SENATE, PRESIDENT... all REPUBLICAN... Excuse that away all you want... THIS will be stamped on Republicans for decades... but keep repeating the same crap you need to, to sleep at night....

Your conservative, fiscally sound party does not exist anymore...

Patters

LOL. Amazing how some righties refuse to take responsibility and blame anyone and everyone, even someone who was President a generation ago. But, it's not surprising that someone like Fog would condemn a program designed to make banks provide mortgages in the areas where those banks operate. It's also not surprising that he has ignored numerous posts explaining the lack of relationship between the CRA and the foreclosure crisis, namely that the CRA only affected about 15% of mortgages, and most of those mortgages worked out fine.

reflexblue

Fog doesn't care he just likes to hear himself pontificat

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Real World

I'm right here bro. Positivity? More like reality. Obvioulsy the drops are concerning, but like housing, it usually means that there is money to be made. People are pulling out cash cuz they're fearful. That's what this represents. Once it stabilizes, or bottoms, probably sometime inside, or after the first 100 days of the new administration, my guess is it will begin to spike upward. Turn on a TV, and see the fear that's being spewed. We're a television, 20 minutes or less, drive thru society now. PEople are panicing, and you're seeing that in the markets. The market isn't my main concern. My #1 concern is banks. Picture these drops, which is basically a run by people cashing out their stock investments, happening to the banking system. If that happens, all bets are off, and I'll honestly go pick up one of my bro's rifles, and stash it someplace inside my home. I'm serious about that. A run on banks is the biggest fear I have. The market, while obviously a concern, is not. Where was the market post 9/11, under 8,000 right?

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897

Real World

Sorry, but your "FACTS'' are incorrect. We never experienced a surplus, since the revenue totals included excess SS taxes, that are borrowed, with interest. The US government hasn't been in the black, in any single year, since the 1950's. Furthermore, the economy was in recession at the end of Clinton's presidency. I don't say that to discount anything he accomplished mind you. I just want to correct what is fact or not.

The subrpime market began with the CRA in 1977, and was fueled by language added in the 1999 deregulation act that passed 90-8 in the senate, with the support of both republicans, and democrats, one of whom was Bill Clinton himself.

All that being said, republicans are no where near fiscally conservative. You are 1,000% correct when saying that.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897