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Another day, another bloodbath on Wall Street:

Discussion in 'Political Discussion' started by Run DMC, Nov 12, 2008.

  1. Run DMC

    Run DMC Rookie

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    Down another 300 pts. Ho hum. Great job by the boy King and the rest of the Republican thieves who are looting the treasury as I type this. See ya'll at 6200 on the Dow.
  2. PatriotsReign

    PatriotsReign Rookie

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    Was that your original prediction Mossed?

    No changing! I'm already screwed. I think I predicted 9,600 which is embaressing now! I'll have to go back & check to see if it was 8,600.

    If we come close to 6,200, you'll be THE MAN!
  3. Run DMC

    Run DMC Rookie

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    PR, to be honest I predicted 7200 for sure, 100% certainty. 6200 is the bottom of the 20th century dow channel and I would not be at all shocked to see it touched. But, who knows?
  4. PatriotsReign

    PatriotsReign Rookie

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    What is "the bottom of the 20th century dow channel"? Explain please.
  5. Run DMC

    Run DMC Rookie

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    Look at historical chart of the dow for the last 100 years and draw a slope line from the all of the bottoms of the last 100 years and you arrive at 6200. Excuse me, 6326.
    Check it out:
    Nasdaqcrash.jpg
    Last edited: Nov 12, 2008
  6. PatriotsReign

    PatriotsReign Rookie

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    you mean 6362 don't you?
  7. Run DMC

    Run DMC Rookie

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    Oh yeah, that too.:p
  8. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Just wait until tomorrow, baby, after Intel's crappy number after today's close.

    Nothing to do now, even if we hit 6200 as the bottom we're already about 70% of the drop from 14K so there's not that much downside left. If anyone is ballsy enough to try to short the last 20% or so of the drop more power to you but that's a tricky game.
  9. NEPatriot

    NEPatriot Banned

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    It was funny to see how liberals reacted to the 238 or 248 pts few days ago. Thank you to Obama's leadership.

    When the down has dropped for 3+ days, you don't see the same kind of Obama's leadership from liberals any more.:D

    I have to wait to find out next year.
  10. maverick4

    maverick4 Banned

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    I called Dow 6000 in 6 months, about a month ago.

    And I am shorting like crazy. Good luck putting your ill faith in an American recovery, with these jokers in charge they are raping your country and you don't even realize it.
  11. Run DMC

    Run DMC Rookie

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  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I wouldn't say I have faith in the recovery but even 6000 leaves us only 2300 to drop and we've already dropped 5700; I realize the % changes as we drop. I'm not advanced enough with stocks to short and stuff like that but I do have about 40% of my 401K in bonds and government securities now. If we do drop below 7K then I'll get everything back in stocks.
  13. PressCoverage

    PressCoverage Banned

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    Wow... are you ever horrible at this...

    The man hasn't served a single day in the oval office, and Limbaugh over here wants to pin the entire financial collapse on his doorstep...
  14. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Obviously this isn't Obama's fault. However the market looks ahead a lot more than the 70 or so days until he's inaugurated and isn't seeing and signs of light yet. Is it Obama's fault ? No. Is the market seeing him as the incoming President as a big boost ? Nope.
  15. maverick4

    maverick4 Banned

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    Then do you attribute the first 5000 points that dropped on Republicans?

    Will you people stop playing politics for a second and look at the economy. This is not about who is President, the fundamental behaviors behind this country are all f*cked up.

    You cannot keep buying more than you make or earn, as an individual, as a company, as a government, as a nation and as a people and not expect everything to cave in after decades of this.

    You cannot keep bailing out institutions that deserve to die. That is not capitalistic. We are more socialist than China right now, by a mile.

    The entire system is broken. I want to start from scratch with the original constitution, a HEAVILY regulated financial sector, and a ban on special interest groups or lobbyists in government. Oh, and no Federal Reserve, no private institutions please, I want a government that can print its own money without having to pay interest.
    Last edited: Nov 12, 2008
  16. maverick4

    maverick4 Banned

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    Those who don't see how hyper-inflation is coming, do not understand that graph you just posted.

    You cannot nearly double the amount of dollars in circulation without eventually doubling the price of milk.
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I was just replying to the post; there's more than enough blame to go around on Democrats and Republicans and to before W. took office.
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    So as you have been right about this all along (statement of fact there, not sarcasm), what do you recommend long term - say we hit your low of 6K. Gold, I assume, not stocks or even bonds ? Just straight Gold ?
  19. Run DMC

    Run DMC Rookie

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    Thank you.
  20. PatriotsReign

    PatriotsReign Rookie

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    And it would be the same no matter who the president elect is. Even if Ronald Reagan resurected and came back it would be the same way.

    People have to realize that Wall Streets perception of gov't plays a tiny role in what the market is doing over any length of time.
  21. PatriotsReign

    PatriotsReign Rookie

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    I understand that chart perfectly and can still see how hyper-inflation won't happen. You used the word "circulation" and that mean the money being added into the economy has to reach CONSUMERS' hands. The only way anything will increase in price is if DEMAND for a given product increases.

    The money the gov't is adding into the economy is NOT reaching us...the consumer at all. Has anyone here seen any more money in their pockets? I can answer that for everyone, "No, they have not".

    So let's break it down. We are losing hundreds of thousands of jobs every month and that takes dollars OUT of circulation and has a negative effect upon consumption. If we look at the dollars the gov't is dumping into US corporations, all they are doing is REPLACING lost dollars.

    Let's say Obama creates a pseudo works progress administration like the great depression, that will also NOT add dollars into "circulation" because all that will do is offset huge increases in private sector unemployment.

    The bottom line for gov't spending to cause inflation is that the money has to reach the hands of the consumer so as to cause a DRAMATIC INCREASE in demand. You will never see that happen due to the way this crisis has evolved.
  22. maverick4

    maverick4 Banned

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    Where did those lost dollars go?

    Just because it doesn't reach Joe Schmo doesn't mean the dollar is not intrinsically de-valued because of it.
    Last edited: Nov 13, 2008
  23. maverick4

    maverick4 Banned

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    Honestly? I would prepare for the breakdown of basic government services and civilization as we know it in the next 5 years. So first I would buy a gun and lots of ammo to protect your home. Next I would get out of anything valued in dollars. No stocks or assets or property in US dollars. Bonds will be worth sh*t very soon. The problem with gold is too many people have realized the same thing for a few years so it's not necessarily good value right now. If you are feeling especially unpatriotic I suggest you buy as much Yuan as you can when the Chinese begin floating their currency.
  24. PatriotsReign

    PatriotsReign Rookie

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    My point is, the only way to cause inflation is that the dollars added into the economy have to reach the hands/pockets of consumers. You also have to keep in mind that dollars can disappear in our economy because so much of it is just on paper.

    When home values were 20% higher and thus the owner net worth, that doesn't mean the money lost in the decline had to go to someone else. It was just an illusion of wealth just as we saw in the stock market bubble. The trillion lost in the stock markets were never real dollars unless people cashed out...which sadly, they did not.

    So that means the gov't can replace lost dollars that were only on paper...they were never real or in circulation.
  25. PatriotsReign

    PatriotsReign Rookie

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    Belichick Fan is gonna be sorry he asked you that question Mav.

    You do realize you are on the fringe of sanity on your beliefs here, don't you Mav? I'm not saying it's impossible, but I am saying it is "way out there".
  26. maverick4

    maverick4 Banned

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    But the dollar as a currency gets drastically de-valued whether the average schmuck sees more currency or not.

    5 years from now even a Toyota will be unaffordable to most Americans, what do you call that? It will cost way more US dollars to buy a Toyota Camry than it does today, because our currency will be worth way less and our buying power will be really crappy for any non-domestic good. What do you call that?
    Last edited: Nov 13, 2008
  27. maverick4

    maverick4 Banned

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    It is only crazy to those who are unable to deal with facts or reality. Look at history, lots of crazy stuff has happened throughout time, people do not realize how quickly the world can change around them.

    My beliefs have been expressed by extremely intelligent people all around the world, all seeing the same thing. It's not just regular individuals like me, like I said to you before multi-billionaire Jim Rogers has been saying this for YEARS. You probably don't recall but Warren Buffet wrote a high profile article several years ago that was extremely alarming concerning the trade deficit. Basically this info has been voiced by lots of intelligent people but the masses would rather not hear it or deviate from their lazy, unearned lifestyles.
    Last edited: Nov 13, 2008
  28. PatriotsReign

    PatriotsReign Rookie

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    Currency is never automatically devalued just because of x, y or z. Increasing the money supply will always result in inflation during normal economic cycles, but not in a recessionary cycle. If you look at the great depression, our dollar did not become devalued because the gov't pumped money into it.

    During the saving & loan crisis in the late 80's, we did not experience inflation when the gov't baled them out.

    You have to say why you feel that way. Especially since it make little sense. Japan's economy is worse off than our own. Their stock market peaked in the early 90's and has never recovered since. They too are pumping money into their economy. So once again, why would our dollars become devalued vs. Japans yen?

    They have lower labor costs than we do but we have far, far more natural resources.

    Why do you seem like you WANT us to experience hyper-inflation Mav?
    Last edited: Nov 13, 2008
  29. PatriotsReign

    PatriotsReign Rookie

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    And there you have it folks! We don't agree with Mav because we lead lazy and UNEARNED lifestyles:rolleyes:

    I can't speak for anyone else, but I know I've earned everything I've got. Here is a list of the jobs I've had in my 49 years;

    College summer jobs
    Road building construction
    Laborer - Concrete foundations
    Brick laying laborer
    Coal mine in Wyoming - laborer

    Jobs after college
    Sales consumer packaged goods
    Sales Analyst, consumer packaged goods
    Sales forecaster (economist), consumer packaged goods

    Pretty lazy lifestyle, huh Mav.:rolleyes:
  30. Run DMC

    Run DMC Rookie

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    Hey PR, sounds like you're getting a little agitated. Serenity now! Hey, everybody is entitled to their own opinion and in the end we will find out once for all who was right. Not that it would matter, if we ever find ourselves in such dire straits. I tend to lean towards the maverick side of the arguement, as I am 100% not assured that our so-called leaders are going to look out for our best interests. That has been elucidated quite clearly with recent events. I would rather be safe than sorry personally and expect the unexpected. Anything is possible in life and I for one would like to be ready for as many scenarios as I can. It seems like Maverick is expressing the same viewpoint. I also take very seriously what guys like Jimmy Rogers have to say. He's made his millions so what axe does he have to grind at this point? Anyway, buenas noches.

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