The economy, is it good or bad. (Page 73/181)
Formula88 OCT 16, 07:31 PM
18 pages and about 3 months ago this thread started. The DOW was around 14000.
People have been arguing back and forth "the sky is falling!" "no it isn't!" and there's still no consensus.
And today the DOW is around 14000.

This is the DOW over the last 3 months - roughly the time period of this thread.

There was a dip down to about 12.5k, or about 10%, which has since bounced back. At the most bleak moment during this thread, it was down 10%.

And here's 2007 Year to Date:


I'm sure some people have made lots of money this year, and others have lost everything. That's all hypothetical. What counts is your own pocketbook. My sky isn't falling. Is everything perfect? Oh heck no. Is the financial world in the toilet? Also, no.

But, like a wise man once said (I'm not talking about you, Bill)
"A recession is when your neighbor loses his job.
A depression is when you lose YOUR job."
84Bill OCT 16, 08:45 PM

quote
Originally posted by Formula88:
People have been arguing back and forth "the sky is falling!"



Not one person said the sky was falling except those who for one reason or another feel the need to over state the obvious plummets in market trends to make those who are more aware of the obvious appear as blabbering idiots. IOW it's an insult to get people to quit stating the obvious...


No the sky isnt falling but the value of the dollar has fallen clean out of the sky... There... I said it!!! The sky hasnt fallen but the dollar has.
It's not a matter that the volume is high or low but it does "indicate" the realease of money and lowering of interest rates BOTH of which are "feel good moves" designed to get this type of response from investors. It's a false indication.

The "markets feelings" are based on reports of (economic health) income from business, pay to employees, consumer purchases which are based on the flow of money, who has it, who lost it and what can one get with it. What it doesnt indicate is what one can buy with the dollar and that makes the market VERY much out of touch with the "value" of the dollar and what it means to the average J. Q. public working man.

Oil is driving costs of EVERYTHING UP... thats inflation.

Pay is not keeping up with that inflation... We got less money and what money we do have buys less and less... thats depression.



Ostriches bury their heads in the sand and continue to believe everything is just fine fine fine. And for them it is.... for now.

[This message has been edited by 84Bill (edited 10-16-2007).]

fierobear OCT 17, 04:06 AM

quote
Originally posted by 84Bill:
Oil is driving costs of EVERYTHING UP... thats inflation.



How's the price of government cheese, Bill? Oh, wait...it's free. Nevermind.
madcurl OCT 17, 12:09 PM

quote
Originally posted by madcurl:


LFC still holding onto past gains @ 96.03. China index stock FXI at $202.94...wow! Not bad if you got in under $100 bucks in three months flat or even @131 per share. A few bucks lost @109.71 RIMM (somebody rated it over-rated). CSCO still holding @32.79




LFC @ 103.49, China Index stock FXI @ 213.31, RIMM @ 113.43, & CSCO @ 32.48

The China stocks are raising at a alarming rate. I think it's time to dump some of the gains.
Pyrthian OCT 17, 12:26 PM

quote
Originally posted by 84Bill:
.......
Oil is driving costs of EVERYTHING UP... thats inflation.

Pay is not keeping up with that inflation... We got less money and what money we do have buys less and less... thats depression.
........



while some may argue the technical definition of "inflation" - you are 100% corroect with this.
there are few things that have not gone up in price due to our new found doubled energy costs.
and, pay has not gone up, because high energy costs dont merit pay raises.

it does seem that energy costs are the root of the problem.
84Bill OCT 17, 05:34 PM

quote
Originally posted by fierobear:


How's the price of government cheese, Bill? Oh, wait...it's free. Nevermind.



Same quote 2 threads. -7 for originality - 2 for delivery.
fierobear OCT 18, 12:19 AM

quote
Originally posted by 84Bill:


Same quote 2 threads. -7 for originality - 2 for delivery.



It's called a "common theme"
84Bill OCT 18, 02:58 AM

quote
Originally posted by fierobear:
It's called a "common theme"



Lame..

Back on topic...

After '87, today's fear is the mini-crash
20 years after the Dow plunged 22% in a day, Wall Streeters aren't too worried about a repeat. But what about a smaller version of that disaster?
84Bill OCT 18, 07:14 AM
Think the credit crunch is over? Think again
Despite what Wall Street boosters would have us believe, the credit crunch is far from over. Fortune's Peter Eavis outlines the five steps that need to happen before we can say the end has come.

NEW YORK (Fortune) -- Careful optimism about the U.S. economy and financial system has given way to a resurgence of unease in the last couple of days, prompted by an announcement Monday of an extraordinary plan to pump liquidity into an important part of the debt markets and less-than-upbeat speeches from Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson.

Suddenly, the credit crunch is being talked about as a serious phenomenon again. But, as is always the case on Wall Street, it won't be long before a gaggle of self-interested players make their way to center stage to tell us that recovery is just around the corner, seizing on any halfway optimistic shred of data to bolster their case.

So, in an effort to stay grounded amid the hype, it's worth making a shortlist of things that need to start happening before anyone can talk about the credit crunch coming to an end.

First: way more transparency. The movers and shakers need to tell us what's really happening and show that they understand the seriousness of the credit crunch
Pyrthian OCT 18, 08:50 AM
yes - one of the funny parts of the "credit crunch" is there really is no viable fix.

you certainly cant loan money for lower interest than what someone could make with a stupidly safe investment. otherwise, everyone could just borrow money, and, at the end of the year, have more than they started with.

anyways - we should do either let the people screw themselves or try to regulate the access to credit. I am mostly in the "let them screw themselves" camp. like all other temptations - you just feel so much better about yourself when you conquor your weaknesses.

another thing people need to remember - credit cards are unsecured - you dont HAVE to pay them. DONT DONT DONT go and get a secured loan to pay them off. while you will save your "credit rating" - yippie - that is it. you will be spending the next 20 years with your "credit rating" - but broke. bad credit & having cash is much better. so - you either pay the man and he says "good boy" OR you keep your cash, and the man says "bad boy". what ya saving your credit rating for? to borrow more? dig a bigger hole?