The economy, is it good or bad. (Page 23/181)
84fiero123 AUG 10, 08:32 AM
U.S. Stocks Head for Lower Open


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Aug 10, 8:27 AM (ET)

By TIM PARADIS

(AP) Trader Ryan Falvey works on the floor of the New York Stock Exchange, Thursday afternoon, Aug. 9,...
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NEW YORK (AP) - U.S. stocks moved toward another opening plunge Friday after Thursday's huge sell-off and as bank regulators including the Federal Reserve injected cash into money markets, stoking concerns of a more pronounced liquidity crunch.
In Asia, which had largely missed the worldwide pullback Thursday, stocks skidded after regulators including the Bank of Japan added liquidity. The European Central Bank for the second day added currency.

http://apnews.excite.com/ar...70810/D8QU5K0O0.html

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Pyrthian AUG 10, 08:54 AM

quote
Originally posted by 84fiero123:
Just keep telling yourself that, you will believe it. Right up until the economy goes right down the tubes, and it will eventually.

We have way to much credit dept in this country and it is all eventually going to come crashing down.



much truth here. there are way to many people who have sold their future thru credit cards. and, the things they bought on credit become junk thru time, and they are still paying for them. there is a whole flock of fools made every year. just turned 18, get credit apps, and suddenly can buy $2000 rims, $1000 stereo, put it in a $2000 car. so, $5000 in debt right off the bat - min wage job. the car will be junk in under 2 years, but will be a debt burden for much more. and, then there is the young adults, thinking they can live like everyone else - thru credit. we'll have more money later. NOT. especially when you start putting holes in all your future paychecks. maybe they should call them "crack cards" instead of "credit cards". because they be deadly addictive.

3-7 years go by. stupid pile of credit card debt. then the silly person will go for bill consildation. "I'll have lower monthly payments" YAY. but, guess what? you can walk away from credit card debt. you can just stop paying. what they gonna do? NOTHING. but, with a loan - you are putting your home on the line.

I've seen this way to many time, and have started getting stuck in it myself.

something to remember: if you cant afford it now - dont buy it. buying on credit insures you will NEVER be able to afford it.
84fiero123 AUG 10, 06:12 PM
Ya the stock market is just fine. Ya the economy is just fine.


World Stocks Plunge on Credit Fears



Friday August 10, 1:06 PM EDT

LONDON (AP) — Stock markets plunged worldwide Friday as turmoil from the U.S. mortgage crisis rippled across the globe.
Stock markets in Europe tumbled, unappeased by the European Central Bank's decision to inject another 61 billion euros ($83.9 billion) into the banking system Friday, a day after it provided nearly 95 billion euros ($130.8 billion), the bank's biggest infusion ever.
London's FTSE 100 dropped 3.7 percent to 6,038.30, the CAC-40 in Paris fell 3.1 percent to 5,448.63 and Germany's DAX index was down 1.5 percent to 7,343.26.
In Asia, the Nikkei 225 index dropped 2.4 percent to close at 16,764.09 points on the Tokyo Stock Exchange. The broader Topix index of all shares on the exchange's first section sank 3 percent.


Matt Buckland at CMC Markets said losses on Wall Street, along with a lack of economic or corporate data due for release during the session, would push markets lower. The recent market volatility has wiped more than 500 points off London's benchmark index over the last month.
"Critically, many are now going to be looking for that big 6,000 level on the London index," he said.
Wall Street oscillated Friday after the Federal Reserve said it would do all it can to "facilitate the orderly functioning of financial markets" and twice injected liquidity into the banking system. The Dow Jones industrial average fell 387.18, or 2.83 percent, Thursday after BNP Paribas in France said it was freezing funds that invested in U.S. subprime mortgages. It fell an additional 212 points Friday before clawing back some ground.
The Dow was down 73.08 to 13197.60 in afternoon trading Friday.

http://money.excite.com/jsp...ews_id=ap-d8qu9n000&


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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Toddster AUG 10, 07:29 PM

quote
Originally posted by 84fiero123:

Ya the stock market is just fine. Ya the economy is just fine.




Uh boy. I guess I shouldn't have to point to the hypocricy of the fact that the only people being hurt here are the RICH foreign investors (you know, the ones you hate) who bought the sub prime loans.

But moreover, I already explained, if you weren't paying attention the first time, that the manufacturing sector will make-up for the shortfall in the wounds suffered in the subprime market. ALL economic indicators are still in the black, GDP, Employment, low interest rates, etc.

In fact, the ECB has just guarnateed unlimited 4% loans to member banks. The banks aren't going to collapse. To quote Ross Perot, "I have 3 Billion dollars in the bank...I'll be fine"

[This message has been edited by Toddster (edited 08-10-2007).]

Uaana AUG 10, 07:42 PM
OH golly
http://biz.yahoo.com/ap/070...l_street.html?.v=101
Stocks End Mixed After Raucous Week

NEW YORK (AP) -- Wall Street closed out a difficult week with a mixed finish Friday after the Federal Reserve injected billions of dollars into the banking system to calm markets torn by worries about evaporating credit. The Dow Jones industrials, down more than 200 points during the session, ended with just a 31-point deficit and managed to post a gain for the week.

guess we should start jumping out of windows. Sorry if you don't know how to invest then stay out. but if you're going to play or even have a 401k.. then position yourself to ride out any fluctiations. Even with the bumps and such I'm still on track for 12% for my 401k
Need to pay attention to it as I have no faith in Social Security.. talk about pissing money away.. might as well dump money on a stripper.. least then I'd get something for my investment.
84fiero123 AUG 10, 07:48 PM

quote
Originally posted by Toddster:
But moreover, I already explained, if you weren't paying attention the first time, that the manufacturing sector will make-up for the shortfall in the wounds suffered in the subprime market. ALL economic indicators are still in the black, GDP, Employment, low interest rates, etc.

In fact, the Fed has just guarnateed unlimited 4% loans to member banks. The banks aren't going to collapse. To quote Ross Perot, "I have 3 Billion dollars in the bank...I'll be fine"




What manufacturing sector are you talking about exactly?

We no longer have one, everything is built someplace else.


Thanks to those who insist on buying Toyota, Honda, Hyundai, and every other car made overseas, or made here and then all the profits sent back to their home country.

Keep telling yourself we are in fine shape, buy that BMW, Sony TV, and al the other crap.

Don’t forget to buy your kids those Chinese made toxic toys.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Toddster AUG 10, 07:56 PM

quote
Originally posted by 84fiero123:

Keep telling yourself we are in fine shape,




HaHa! Sage advice from the economics expert who learned everything he knows about the economy from the Daily Kos.

Thanks, I will.
Formula88 AUG 10, 08:15 PM
Ben Stein says the economy is doing fine. Honestly, I probably trust his judgment on the condition of the economy more than just about anyone else in the news.

"The U.S. mortgage market is immensely large, spectacularly large. Total foreclosures are a large amount in dollar terms, but a tiny amount in percentage terms. Foreclosures are now about 1 percent of loans. The lenders will sell the houses and recover at least fifty per cent of the value. That means the total loss may be about ½ of one percent of the mortgages made and probably less, and a lot of it is insured. This is an absolutely trivial number in the context of a $14 trillion economy with net wealth in the realm of $60 trillion."
...
"The most cagey players on Wall Street like Goldman Sachs are now trying to buy — not sell — as much distressed merchandise in the mortgage area as they can. This is a good clue about where the smart money is going."

Video of Ben Stein on the housing market.
84fiero123 AUG 10, 10:56 PM

quote
Originally posted by Toddster:
HaHa! Sage advice from the economics expert who learned everything he knows about the economy from the Daily Kos.
Thanks, I will.





quote
Originally posted by 84fiero123:
Keep telling yourself we are in fine shape, buy that BMW, Sony TV, and al the other crap.

Don’t forget to buy your kids those Chinese made toxic toys.



Was the complete quote todd. Now don’t forget to buy those toxic toys for your kids, and the good dog food for your dog.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

84fiero123 AUG 11, 07:28 AM
It’s going to hit hard, and already is in California. They have the highest percentage of loans at high risk.

Option-ARMs accounted for nearly 22 percent of the mortgages made in California during 2006, according to LoanPerformance. Other hot spots included: Nevada (15 percent), Hawaii (13.3 percent), Florida (12.2 percent), Washington (10.9 percent) and Arizona (10.6 percent).
If many of those loans go bad, major option-ARM lenders will likely be forced to erase some of the profits that they have already booked from the exotic mortgages. Under an accrual accounting method allowed by regulators, option-ARM lenders routinely record the uncollected interest as income even though the money may never be paid.

http://money.excite.com/jsp...ews_id=ap-d8qujga00&

Real-estate agents like Todd who keep saying the economy is fine and home prices will never go down, only up are part of the problem.

Painting this rosy picture of the housing market that is no there.

The housing bubble is bursting and it’s all California’s fault. They think they can do no wrong.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.