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The DJIA will end below 10,000 today

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

  1. PatriotsReign

    PatriotsReign On the Roster

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    Shocking? I don't think any of us are shocked by anything anymore. I know I'm not surprised at all. I just hope our hero's in congress don't convene to write up another bailout package so we can let this thing bottom out and get back on the road to recovery.

    I think once this all turns around, we'll all agree that government interference in economic trends is a waste of money.

    Prediction: The federal governemnt will announce that they will purchase all homes in danger of foreclosure. It will be hailed as a key to turning around the housing industry...but it won't have any effect at all. Housing will still decline until the values reflect income levels.
  2. Real World

    Real World Moderator Staff Member

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    Don't we already have a DOW Jones thread?
  3. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Other than it showing the crapiness of the economy, it shouldn't matter to most or all here.

    I feel like a broken record but . . . what the stock market drops to matters to traders. It shouldn't matter to investors who are investing for retirement, in fact massive drops are good as they allow you to buy a lot more shares for your dollar. Those who are retired, or are getting close, should have been out of the market for a while unless they had enough in tha they could afford a significant loss.
  4. Real World

    Real World Moderator Staff Member

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    Quit making sense. Sense isn't doomsday enough. The only thing that matters is that the DOW loses a lot of points in the short term, even though it's not a short term market.
  5. PatriotsReign

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    I haven't changed a thing in my portfolio and I agree that in many ways, a big drop can be good for things like 401k's.

    Day to day changes aren't important, you're right. But a one year change from 14,000 to 10,000 is historically HUGE. You can't debate that BF.

    But what you're missing is the historical significance of what is happening. This is a big deal BF. We are witnessing a huge historical event. It doesn't make any sense to NOT talk about it. The economy will be the biggest story for years to come.

    The positive is that if you & I survive through it ok, we'll probably end up being better off that if it never happened.

    But our economy will definately benefit when this all bottoms out. Americans will start saving more and wasting less. We will no longer see sectors of our economy exploding into bubbles as an era of stabilization comes to being.

    We just have to accept that what is happening is what is necessary to better times ahead.
    Last edited: Oct 6, 2008
  6. PatriotsReign

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    Then don't look at the short term...look at what's happened since October 2007 and tell me it doesn't matter. If it doesn't matter, then nothing matters.

    Go close your eyes and say "nah nah nah nah nah...I can't hear you" until it's all over RW. If you talk about what is happening RIGHT NOW, then it can't be doomsdaying there big fella. It's called NEWS.:rolleyes:
  7. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I didn't say you can't or shouldn't talk about it. Just that it's not overly relevant other than to :

    - Traders.
    - Retirees (or near Retirees) who left their money in too long.
    - The rest of us who need to remember this when we become (near) Retirees.
  8. PatriotsReign

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    Ok, so you're saying a recession isn't overly relevant? Because the broader implications of the stock market are certainly relevant.

    Is unemployment, orders for durable goods, new housing starts, consumer spending and declining corp forecasts important to you? Is the economy relevant or important to you BF? Because 14,000 to 10,000 says a lot about our lives right now...like it or not.

    I just saw the Dow is at 9,945 at 10:19 am. You can be sure that those on Wall Street see this as significant.
    Last edited: Oct 6, 2008
  9. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I was talking about your THREAD TITLE. It just means . . . buying opportunity to me. You want to talk about the economy ? Start a thread with that in the title.
  10. Real World

    Real World Moderator Staff Member

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    I'm closing my eyes, nah, nah, nah... :rolleyes: I'm just a realist pal. I don't get too excited over stuff, just as I never get too depressed. I know where the market will be in the middle of next year, so I don't think a numerical bottom is all that doomsday. I know though, drama sells.
  11. PatriotsReign

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    If we attacked Russia today, would we talk about the details of the attack or the broader implications that it would bring us?

    I'm pissed off about this BF, so don't think its happy news for anyone. I have a job I need too and at 49 years old, I don't need to be unemployed.

    The thread title is meant for it's historical significance and broader implications.

    Just as it would if Tom Brady threw for 700 yards in one game and I named the thread, "Brady throws for 700 yards" Would you then reply "it's just one game and not that significant. If you wanna talk about how great Brady is, start a thread with that in title":rolleyes:
  12. BelichickFan

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    #24 Jersey

    Well I've given my input, someone else can chat with you if they like . . . I'm hoping for a capitulation crash today so I can get some money in.
  13. PatriotsReign

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    At least you didn't call me "big fella" that would have really pissed me off!;)

    I think the Dow will still be around where it is today a year from now. I don't see a lot of economic recovery for a couple of years...I'm a realist RW
  14. PatriotsReign

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    Headline from CNNMoney;

    Dow falls below 10,000
    Index below milestone for 1st time in nearly 4 years as anxiety grows.

    I guess I'm not the only who sees this as historical;)
  15. mcgraw_wv

    mcgraw_wv Rookie

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    What a morale killer seeing the DOW under 10k...

    Just as when the market first went over 10k, it's dip under it, is quite a killer...
  16. Fogbuster

    Fogbuster Rookie

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    [size=+3] Would all those cheerleaders who are taking such delight in America's problems please take the next flight out of the country. And don't come back until you're attitude changes. Cheer-leading when your country is in trouble is like throwing a party when your father has a heart attack. Pretty freaking low. Don't know how anyone can get any lower. Disgusting. [/size]


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  17. mcgraw_wv

    mcgraw_wv Rookie

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    Then that would leave only the people who said "Everything was great" before the destruction of the economy... We couldn't possibility find a way out of this with only people who never saw it coming....
  18. weswelker#83

    weswelker#83 Rookie

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    Send the stupid Bush first , that s what you get when you elect a dumb candidate twice . :singing:

    Fool me once , shame on you... LOL

    Fool me twice ,..........?
    Last edited: Oct 6, 2008
  19. Fogbuster

    Fogbuster Rookie

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    No, everybody know things are not great, and that things were not great before. That's not the issue.

    The issue is those who are taking perverse delight in seeing the economic problems that America is experiencing. And those who are feeling "happy" over this stock market hit are not true Americans, and they should leave. America does not need such people. America does not deserve such people.

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  20. Fogbuster

    Fogbuster Rookie

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    Wrong. Dead wrong. Bush is not the origin of the problem. Jimmy Carter started this time bomb 30 years ago when he signed the Community Reinvestment Act into law. Here, look at it:

    YouTube - Burning Down The House: What Caused Our Economic Crisis?


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