DOW drops 300 points today

[240 is Back]

You all remember the run-up, then sell-off, on jan 2, 2001?

housing market is about to bottom out.  oil prices about to hit record high. 

we already know if the war ends, there are going to be serious problems here.  lots of people with no work, companies no longer producing.  always a market hit following the war.

are we looking at 14k being the peak, and it's all downhill from here?

[War-Horse]

The dow will stay strong as its just the rich feeding the rich for the most part.
The CPI is a good parameter of economy for the most part...

You are correct this housing thing is a real problem....the gov wants to raise interest rates but cant because of the banking mortgage companies sold too many bad loans. and raising the rate would be the nail in the coffin.

Oil and tech stocks will soar tho as americans love gadgets even if paying with credit cards...

Things are going to get bad!!!

[240 is Back]

yeah, I think we'll see a 'leveling off' of our standard of life - or more succinctly - a shrinking of the middle class.

half of the homes on my street are for sale.  It's incredible.  Everyone bought a nice place as a second home/investment, or a nicer home than they could afford with a variable rate, and they're all losing their shirt today.

[War-Horse]

yeah, I think we'll see a 'leveling off' of our standard of life - or more succinctly - a shrinking of the middle class.

half of the homes on my street are for sale.  It's incredible.  Everyone bought a nice place as a second home/investment, or a nicer home than they could afford with a variable rate, and they're all losing their shirt today.

Amen.  I bought a nice house 2 yrs ago and now its worth 50k less than then...   Im glad i paid a point higher to get a fixed rate tho.    Homes for sale everywhere now, its gonna be a crisis...

[jaejonna]

Housing market is going to be in what they call a 'cluster fuck'.....the foreclosures are out of control, ppl cant keep up with thier mortgages, housing bubble meet needle...

[Moosejay]

I have been in the market for 23 years...if you have a long-term view, such as I have always had, you would look at these 'drops' as nothing more tha opportunities...or, you wouldn't notice them at all.

Mike

[JasonH]

I think the DOW and all the other markets dropping the way they have was probably more to do with the actions of the rogue trader in France who worked for Societe Generale. He lost his company four times as much as Nick Leeson did with Barings.