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Prepare for Black Monday

Discussion in 'Political Discussion' started by Holy Diver, Sep 26, 2008.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Stand by for Black Monday: Britain braced for meltdown as Bush admits 'we have a big problem' after bail-out talks fail | Mail Online


    Britain braced for meltdown as Bush admits 'we have a big problem' after bail-out talks fail




    The U.S. President today admitted he has failed to land a bank bail-out deal, leaving the world on the brink of a global financial catastrophe.

    President Bush was forced to admit he had not yet been able to persuade senior Republicans to back his $700 billion rescue plan.

    Experts predict the London Stock Exchange could fall by up to 1,000 points when it opens next week if the deal is not signed.

    It would be a 'Black Monday' meltdown similar to the financial crash of 1987. Other world markets would also be sure to fall dramatically.

    In a terse statement from in front of the White House, the President conceded this afternoon: 'We've got a big problem and we've got to move quickly.'
     
  2. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Definately ominous...one day at a time is all we can do.

    My biggest wish is that politics was not a part of the solution. Because along with politics, come polititicians and their less than honorable motives.
     
  3. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Barack Will Save Us

    Thank You Our Lord Savior For Sending Us The Beautiful Great Barack May His Glorious Speeches Save Us From This Impending Doom May His Ears Bless Us, "Oh Jesus H Christ God Almighty"
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    A 1,000 point drop will get me close to my prediction of the DJ bottoming out at 9,600...cool.:cool:
     
  5. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    This makes the invalid assumption that nothing will happen between now and Monday.

    There's really nothing to do but leave your money where it is. There's as much chance of a big rise in the market if something happens as there is of a big drop if nothing happens.

    I'm a long term investor not a trader. That said, I plan to buy into the drop if there is no deal or sell the rally if there is one. But selling now means you think you know more than you do because NO-ONE knows if there's going to be a deal or not. And even if you want to sell over the short term you'll cost yourself a lot of money by selling now vs. Monday if there is a deal to the investors' liking.
     
  6. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    One of my brothers took everything he had out of the market in January...the MF'r!:mad:
     
  7. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Well I'm not exactly a bull right now but with a little rally today, if we get a deal and pop again we could be almost 1K point higher on the Dow from the 10,600 low last week. That's what I'm kind of hoping for, to get to 11,500 from the current 11,150.

    But if there's no deal and we drop below the 10,600 then I'll just look at it as a good long term buy. Maybe not the bottom but close enough for me to put the 20% I currently have in cash back into the market.
     
  8. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    Is Black Monday the Monday after McCain makes a few dumb ass decisions back to back and by Monday Obama is the clear leader...?? :)
     
  9. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Here is the thing...

    Pumping 700 billion into the economy will generate a bump in the DOW for sure. You don't even have to know anythinhg about investing to see that. But it seems to me that the market is inflated, and inflaiting it more will put a bandaid on the gash. we need stitches and time to heal. I think the republicans in congress will NOT allow the tax payers to bail out the economy...and sadly...I agree.
     
  10. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    With the President on the side of the majority this can get done with or without the Republicans. I expect a bill done by the opening on Monday and the rest is politics with the elections coming up.
     
  11. maverick4

    maverick4 Banned

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    This country is so f*cked, look at 1930's Germany or Argentina to know what I am talking about. You can't keep printing trillions in monopoly money and expect nothing to happen.

    Bailing out all these large insurance and financial companies was retarded. The inevitable was happening anyways, what these bailouts have done is put the US Government arguably at risk of existence.
     
  12. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    Nothing "Sadly" about that... unless your 100% always against what someone with an R by their name says...

    Sometimes you have to look commonsensical and understand sometime the other side isn't ready to sell you out for big business like the Democrats did... almost looked excited at the opportunity...
     
  13. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    BF, what are your feelings on the thought that the markets (Dow) are still over inflated when evaluated on an earnings to price ratio?

    I think we NEED any excess inflation in the markets to come out. I think we need the investment markets to return to an honest reflection of performance, not in investor's willingness to bet the price will rise purely on speculation...just my thoughts.
     
  14. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    I see what you are saying with the majority in congress.....however:

    I think its absolute BULL$H!T that we, the non-predatory lending/golden parachute having tax payers bail these people out. ABSOLUTE BULL$H!T.

    I agree with the fiscal conservatives in washington...mostly republicans, which is strange to me....

    If we have failed...then we have failed. Its not like they gave the Patriots an extra quarter in the superbowl. Sometimes you roll the dice, and you lose. Thats what happened. These people need to go down. Or pony up the dough they made.


    HONESTLY.....who the flunk needs 48 million, or 65 million? check out what the WAMU guy got for a month of work. Its highway robbery.


    Stcik to yor guns Republicans! we finally agree!
     
  15. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I expect earnings to come down and find the market overvalued sometime in the next 6 months. But I think it's irrelevant to investors behind the credit story. That's why I'm not a bull and plan to move money from stocks to cash in my 401K if there's a rally on Monday. My mutual funds will just sit there - nothing in, nothing out as I hate moving money around and dealing with the resultant taxes. But money which I would have been putting in my funds will instead go into a money market that will be my savings for a new car in 4-5 years.
     
  16. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Its strange to me because for the past 7+ years I have been watching these peopel with (R) after their name vote in lock step with a NEO-conservative agenda.....to see them break from the POTUS, stcik to their guns.....and agree with me is "strange"
     
  17. Real World

    Real World Moderator Staff Member

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    Something will likely be agreed to before trading opens on Monday. No guarantee, but likely IMO.
     
  18. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I don't wanna make any predictions and ruin my spotless record RW:D
     

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