We have had a 599 point drop on the TSX so far today. Add this to last weeks 1300 point combined drop, and we have what looks like a slow couple of quarters ahead.
Edit: One thing I have always wondered, is how the Canadian housing market completely detached from the rest of the economy? Since the start of the US' financial troubles realtors have told us that the Canadian housing industry is protected from value drops as unlike the US, we have a very diverse economy rich in profitable natural resources. In our provinces case, they say that worst case scenario we will still likely see 30 % housing price growth during the next year because of booming natural resources. Well, looking at the hardest hit companies in the past weeks "crash", they are all natural resource based ventures. Our main banks and real estate boards are now saying that we might have two or three quarters of economic hardship, but are telling home buyers that it is still a good time to buy at what seems are ludicrous housing prices because while they are forecasting and economic slowdown ahead, at the same time they are also predicting a further 30% increase in housing prices. Why are housing prices and the economy seemingly not tied together? Something just seems fundamentally wrong here.
[This message has been edited by loafer87gt (edited 01-21-2008).]
Originally posted by 84Bill: Change is in the wind my friends.
You say that like it is a bad thing Bill. Change is inevitable. I am looking forward to it. We have nothing to fear but fear itself. Well, that and stupidity. After hours trading.....back room deals, since the beginning of time. Some might get ahead by cheating but it need not concern me. I do okay by myself.
The government says they are giving us all tax rebates to avoid going into recession, at least thats what they are saying. If they want to fix the economy, LOWER GAS PRICES A COUPLE DOLLARS, then the economy will be better. Fuel prices have a HUGE effect on the economy. For example if the price of diesel costs $3.50 a gallon then the company that owns the truck has to buy $3.50 a gallon to fill their trucks, one truck holds 250 gallons of diesel, so it would cost the company $875 to fill it up, freight trucks usually get 5 miles to the gallon if they are lucky, so the truck can only go 1,250 miles before they run out of fuel, which is one day of work. So if the truck is used everyday for a whole year, it would cost the company $319,375 a year to run that truck, if the company has 10 trucks which is a small company it would cost them $3,193,750 to run their trucks. So with all that being said they would have to raise the prices of their shipping just to cover fuel, which means the company that is getting their freight shipped would have to raise the price of their product to prevent loosing any profit. This is just a small example, I don't have a big enough calculator for a bigger example. So by lowering fuel prices everyone will save money and becasue everyone saves money then buy more stuff with their saved money which makes the economy go up. Feel free to comment or revise.
Originally posted by 84Bill: No... I said no such thing Cliff.
Not exactly. What exactly kind of change were you referring to ? Serious question Bill. I see opportunity. On a grand scale. What does it mean when the walls come crumbling down ?
Originally posted by cliffw: Not exactly. What exactly kind of change were you referring to ? Serious question Bill. What does it mean when the walls come crumbling down ?
Serious answer.
Cliff, that depends entirely on your perspective. I have mine and you have yours.
I tried to convey to you once before in several threads and I was savagely rebuffed so I have no further desire to help you understand "my perceptions" and would rather play Russian roulette with 4 rounds.
You say that like it is a bad thing Bill. Change is inevitable. I am looking forward to it. We have nothing to fear but fear itself. Well, that and stupidity. After hours trading.....back room deals, since the beginning of time. Some might get ahead by cheating but it need not concern me. I do okay by myself.
Change is change, bad change is bad, good change is good.
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01:29 PM
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
Originally posted by ditch: So how low do you all think the Dow will go? Post 9/11 I think it was around 7700.
I would not be surprised to see it down into the mid 9000's this year. Lower than that? hope not, but it's possible.
Quite possible or worse. The world markets are not as reacptive to the "stimulus" as the U.S. market was today. Washington really needs to get its collective head around being more responsible with money. And like Conn mentioned in another thread there are many factors involved such as deregulation of the banking industry, alterations to bankruptcy laws, -250 billion dollar budget shortfalls year after year.
Plain and simply put. America is broke bad and bleeding to death.
[This message has been edited by 84Bill (edited 01-23-2008).]
Your colorful little personal bon mots are equally unwelcome as they are uncalled for. So why not just move along and go play nice in another thread and leave us to discuss the topic... Thanks
quote
Originally posted by Formula88: 3 points. You're posting about 3 points? Damn, you're a whore for bad news.
Just write a macro so you can post "Everything sucks" over and over and over. Don't bother with the numbers. They clearly don't matter to you. Don't worry, everything still sucks in your world.
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Originally posted by Formula88: Your math needs work.
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11:23 PM
aceman Member
Posts: 4899 From: Brooklyn Center, MN Registered: Feb 2003
Trolling again, Bill? Someone doesn't agree with you and you troll.
There Bill. I'm not assassinating your character and I'm not trolling (I don't give a flying rat's ass or two squirrel nuts about your response.) and I'm not bickering with you.
As to your original topic....No, it's not important. The stock market goes up and the stock market goes down. 5 hours of after hours trading does not have importance on the big picture....
Especially if it rebounds during normal trading. So if you don't like that answer to your original post, I guess you can whine some more and post that picture.
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11:32 PM
ditch Member
Posts: 3780 From: Brookston, IN Registered: Mar 2003
Next week I'm going to lunch with a good friend who has been a financial planner for about as long as I am old. He is a successful guy, has a family, and has very strong morals. I'm glad to have him as a financial planner because he really cares about doing what's right for his clients. I'm going to get his opinion on what is going on and how bad he thinks it will get. I'm sure he doesn't have all the right answers, but am curious what someone in his position thinks about this mess. It will certainly be better than what I have to offer with my limited knowledge of economics. I'll post his comments when I get them.
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11:32 PM
PFF
System Bot
ditch Member
Posts: 3780 From: Brookston, IN Registered: Mar 2003
Trolling again, Bill? Someone doesn't agree with you and you troll.
There Bill. I'm not assassinating your character and I'm not trolling (I don't give a flying rat's ass or two squirrel nuts about your response.) and I'm not bickering with you.
As to your original topic....No, it's not important. The stock market goes up and the stock market goes down. 5 hours of after hours trading does not have importance on the big picture....
Especially if it rebounds during normal trading. So if you don't like that answer to your original post, I guess you can whine some more and post that picture.
Please don't turn this thread into another back and forth that goes on for 3+ pages. You gave an opinion there, that's cool, but the way that is written screams of trying to start another war
Originally posted by ditch: Next week I'm going to lunch with a good friend who has been a financial planner for about as long as I am old. He is a successful guy, has a family, and has very strong morals. I'm glad to have him as a financial planner because he really cares about doing what's right for his clients. I'm going to get his opinion on what is going on and how bad he thinks it will get. I'm sure he doesn't have all the right answers, but am curious what someone in his position thinks about this mess. It will certainly be better than what I have to offer with my limited knowledge of economics. I'll post his comments when I get them.
Thats cool
My great grandfather had 6 houses and a few hundred grand in the bank. His neighbor and good friend was a banker who worked very closely with him. My grandfather lost it all but his neighbor close his accounts in the days prior. Why he never said anything is to this day a mystery.
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11:41 PM
aceman Member
Posts: 4899 From: Brooklyn Center, MN Registered: Feb 2003
Originally posted by ditch: Please don't turn this thread into another back and forth that goes on for 3+ pages. You gave an opinion there, that's cool, but the way that is written screams of trying to start another war
Just calling it as I see it with Bill. How can you discuss/debate something with a guy that whines and complains about what you post every time you disagree with him?
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11:41 PM
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
Your colorful little personal bon mots are equally unwelcome as they are uncalled for. So why not just move along and go play nice in another thread and leave us to discuss the topic... Thanks
5:16 P.M. 12270 10:25 P.M. 12269 10:48 P.M. 12297
To which you say
quote
"So yeah thats nearly -300 from your post 5 hours ago. "
Your math DOES need work. That's not a troll, it's a fact of life.
What the fuk is your problem aceman? I mean really what hell is it? Why do you have to constantly badger, intimidate, harass, troll, ruin, and destroy every damn thread I participate in?
is it like your lifes mission or something to fuk with 84bill and **** with 84fiero124 every damn chance you get?
It's just completely senseless and pointless. Whatever fuknuts.
That's generally how it works. You make a mistake. Someone points it out, and if you learn from your mistake you can grow as a person.
Yet you're the one using profanity and calling people names. Do you want to discuss the economy or do you just want to complain about it? If you're interested in a discussion about the economy and you're using the stock market figures as an example - you pretty much need to understand the math.
But if all you want to do is whine that everything sucks, you can do that regardless.
Is that what you're really wanting? Everyone to leave you alone so you can whine and complain in peace?
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12:01 AM
ditch Member
Posts: 3780 From: Brookston, IN Registered: Mar 2003
My great grandfather had 6 houses and a few hundred grand in the bank. His neighbor and good friend was a banker who worked very closely with him. My grandfather lost it all but his neighbor close his accounts in the days prior. Why he never said anything is to this day a mystery.
Ouch, that would come as a slap in the face. I hope that doesn't happen to me.
oh, and thanks .....you're making me feel real good about my friend proves one thing, you can't trust anyone
[This message has been edited by ditch (edited 01-24-2008).]
.....you're making me feel real good about my friend 
