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Dow Down 800, Morons Never Learn

Discussion in 'Political Discussion' started by maverick4, Oct 6, 2008.

  1. maverick4

    maverick4 Banned

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    Thought the bailout would save your lazy arses? Dow down 800 points, will probably finish down 700. The bailout is the worst thing to happen in the past three weeks, and it is NOT the savior that you moronic sheeple thought it would be. The idiot masses of America will do anything if scared, even destroy their own nation.

    If you want to keep hiding your heads in the sands and pretending there isn't a recession, that there isn't a global financial meltdown, put your money where your mouth is and ante up, put all of your net wealth into dollar assets right now.
     
  2. Real World

    Real World Moderator Staff Member

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    I don't know what's funnier, the irony of your thread title, or the fact that you don't quite understand what the bailouts (not that I support it) purpose is.
     
  3. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    I don't support the bailout, but it's going to take months before those bad assets get bought up.

    we're talking years before this thing gets straightened out if it ever does
     
  4. Patsfanin Philly

    Patsfanin Philly Experienced Starter w/First Big Contract

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    #95 Jersey

    Many people who don't understand the market ( and probably shouldn't have been in it to begin with) are calling their brokers telling them to sell everything ( worse time now Bubby, about 8 months late) while the bargain hunters are waiting for it to drop more before getting back in.............
    I fear the ugliness is a long way from being over............
     
  5. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    I'm not sure what this bailout has to do with Mormons....


    Oh........!

    my bad
     
  6. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    hopefully people have enough cash saved in case of emergency in the bank and at home. yeah why sell low when you can buy low and then sell high. it's all a gamble either way.
     
  7. maverick4

    maverick4 Banned

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    What is hilarious is Real World has insisted for 2 years there is no problem, and even now still puts his hands over his eyes over the situation.

    Too bad the guy doesn't have the balls to back up his beliefs and buy up some of these stocks. They are at bargain basement prices for Real World.

    He's all talk though, he doesn't even believe his own BS.
     
  8. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Like I keep saying. Take the difference between where housing prices were and where they should have been with only normal housing price growth. Subtract all that lost equity that was only paper(false) equity anyways and then factor that into that much money being pulled from the economy ... that's where the Dow will pretty much end up when this correction has run itself out.

    It's rather comical how the public goes nuts when the Dow goes up and everyone is in a tizzy about it ... but when it goes down it's like someone just stole their wallet. Over time it does go up but for every burst up there will be a correction downward ... it's been that way for a very long time. I put my money in funds and just let them sit there ... rarely touching which i have. Playing the stock market is the same as cards ... you need to be able to lose $$$ to make $$$ ... it is what it is.
     
  9. PressCoverage

    PressCoverage Banned

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    FBN, do you think the markets are gonna be just fine? If so, when should it all be straightened out for us?
     
  10. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Like I said ... take away all that paper equity ... and you can bet the financial people already have done this. All that money that could have driven the economy is now gone and/or unavailable. So every business has to readjust their earnings forcasts downwards, lay off help ... all the rest ... the stock market levels off where it would have naturally been with housing prices somewhere around where they are now.

    It's going to take the housing market prices to stabilize, layoff cycles to take their course, investor equity to be once again pumped into a revitilized economy ... I'm guessing 2-3 years give or take.

    EDIT: Whoever wins this election will get credit for the resurgence ... if they play their cards right this next election is worth 8 years ... not 4.
     
    Last edited: Oct 6, 2008
  11. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Wow! I'm impressed FBN...great post! You have a nice grasp on the complexity of today's economy...not that you need me to validate your comments.

    I like your comments regarding the "illusion of weath" which was the reality we have been living in for 20 years. If we could really analyze what has happened, we'd find that the average American middle class has been short-changed. Our incomes have not kept pace with economic growth and the profiteering of US corporations. We have been mislead while corp. America had a party at our expense.

    You're right though....there is just so much that needs to find the balance that capitalism depends upon. It won't happen from government intervention or wishful thinking, it's just going to take time.

    If we do this right, our economy can end up more stable than it has in decades. Our politicians just need to keep their noses out it as much as possible.
     
    Last edited: Oct 6, 2008
  12. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey


    I am waiting ... won't happen this election ... but I am waiting for 1 Presidential contender to say that earnings from savings (not retirement) will not be taxed up to $10,000 or so. That move would make our economy very strong and it would keep the dollar strong. Uncle Sam could recoup the lost earnings in other areas if needed.
     
    Last edited: Oct 6, 2008
  13. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    except two problems:

    1. Most of our jobs are based in the service sector. How many people actually work in a job where it produces something in a factory or such?

    That means if people don't have money to pay for a service then there just isn't that much of a demand in the service sector.

    2. what is alot of this fake wealth has been or is in the process of being transferred to foreign markets by the wealthy elite? I call this the swindle factor where these bailouts gave enough time where stocks were elvated that the elite could sell and then transfer them to euros or such.

    this also goes along with just because banks are going to be having more credit available doesn't mean they are going to lend it out. why would they unfreeze the markets at any risk?
     
  14. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Pretty good idea...I like it FBN! We need to move towards countries like Japan & China where the average citizen saves over 20% of their income! Not like us "I want it now" Americans.

    I think this would help. However, earnings on $10K is only around 2% or $200 a year...not much incentive.
     
  15. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey


    No ... I meant $10,000 earned in interest not taxed.
     
  16. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    I agree on your sentiments PR, but a large portion of the middle class had a fine dandy time at the "savers" expense. Those who actually saved money in 401k's and saving's accts are the ones who paid through devaluation of their retirement fund or eventual inflation of introductory of new money into the system.

    In the end my neighbor who has his boat, the plasma tv, the new car, the nice vacation and then had his foreclosed on is the "savers" problem and expense.

    I'll agree that corporate america had a great time, but so did all these people who lived beyond their means and ultimately got foreclosed on.
     
  17. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    I would love that. I would save as much as I could.

    FBN, a very good idea.

    It would finally give an incentive to become a nation of savers rather than spenders.

    If each person was allowed $10000 per year no taxable savings, but how do you regulate this and monitor it?

    Banks accounts need to be at certain levels throughout the year?
     
  18. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Good point Biggles...but at least the middle class spenders are paying an awful price in losing their homes. Something that will follow them for a lifetime!

    What price is corp America paying? oh, I forgot, they're getting $700 BILLION of our tax dollars!

    See what I'm saying biggles?
     
    Last edited: Oct 6, 2008
  19. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    great points all around. it's too bad that ceo wealth is probably overseas now.
     
  20. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Speaking of morons, there is already talk that the $700 billion isn't nearly enough! They are saying it's just the beginning of the bailouts!

    Seriously eff every single one them!

    "Both major-party presidential candidates declared today that the global stock sell-off -- that pushed the Dow Jones industrial average below 10,000 for the first time in four years -- shows that the $700 billion bailout passed last week isn't enough to rescue the economy.

    This isn't the end, it's just the beginning...."


    Then fine...I say send me a fat check so I can buy some more "stuff". The only thing is, every time one of these checks is sent out, I don't get one! Talk about knowing how to piss off your average American!
     

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