THANKS TO THE REPUBLICANS THE DOW IS BELOW 9000.....and fallin

[Monster_Everything]

is this what they mean by 'trickle down'

[jesusbod]

is this what they mean by 'trickle down'

You sir are an idiot if you think it is just the Republican's fault. There are a lot of Democrats that are to blame starting with Pelosi, Reid, Frank and Dodd.

They all got kickbacks from Fannie Mae and Freddie Mac.

[SAMSON123]

is this what they mean by 'trickle down'

NO...THIS IS WHAT IS MEANT BY FALL DOWN ECONOMICS...THANK YOU REPUGNANTCANS....

[ManBearPig...]

can you guys give me some concrete proof, point a finger and say "this republican(s) caused this, and here's why"?

or are you just talking out of your ass?

if you want me to point a finger at a democrat that caused this, i can point a finger and say "this is why", but you have to go first.

if you can't come up with anything, you have to post "i eat dick and i talk out of my ass", ok?

[Emmortal]

can you guys give me some concrete proof, point a finger and say "this republican(s) caused this, and here's why"?

or are you just talking out of your ass?

if you want me to point a finger at a democrat that caused this, i can point a finger and say "this is why", but you have to go first.

if you can't come up with anything, you have to post "i eat dick and i talk out of my ass", ok?

There isn't one side to blame in this.  It's because they passed the bail out bill which both sides agreed on.  Just be prepared cause it's going to get worse, the value of the dollar is going to drop like a bag of bricks and inflation will shoot through the roof.

I'd be liquidating whatever assets I had left and get ready for a long shitty ride down the toilet.  It's going to be 5-7 years before we pull out of this one.

[ManBearPig...]

There isn't one side to blame in this.  It's because they passed the bail out bill which both sides agreed on.  Just be prepared cause it's going to get worse, the value of the dollar is going to drop like a bag of bricks and inflation will shoot through the roof.

I'd be liquidating whatever assets I had left and get ready for a long shitty ride down the toilet.  It's going to be 5-7 years before we pull out of this one.

some psychos would say to buy buy buy now?

[Emmortal]

some psychos would say to buy buy buy now?

It's only going to get worse so now would not be a great time to buy stocks.

[ManBearPig...]

It's only going to get worse so now would not be a great time to buy stocks.

what are you basing this on?
i'm always willing to listen.

[Emmortal]

what are you basing this on?
i'm always willing to listen.

Things are following some of the same trends of the '87 crash with some markets being put on limited trading in order to avoid further fall out (i.e. Japan, Russia and we'll see what happens with ours soon).  We haven't gotten to that point yet (we may avoid it depending on how things are handled).  My expectations, and they are shared by traders and other investors I know, is that it's going to be declining further before we start to see it flatten out.  There are worldwide implications of what happens to our market, this is a very critical time not just for us, but the entire world and it's going to take several years, minimum, for us to bounce back from this.  It's serious shit and people need to realize just how much of an impact of what's going on is going to effect them.

[keanu]

There are worldwide implications of what happens to our market, this is a very critical time not just for us, but the entire world and it's going to take several years, minimum, for us to bounce back from this.  It's serious shit and people need to realize just how much of an impact of what's going on is going to effect them.

  You got this right. The US financial market is very poorly regulated. Now it's too late. While many executive are getting 10's or 100's of millions of dollars we will suffer. Other markets are talking about U.S. exposure like it's a disease.

  The fallout is huge. The unemployment numbers are growing quickly, and
yes, inflation will burst from all this money creation. It just means we'll really suffer from a lowered standard of living. In the end Joe taxpayer is paying for this mess. The dow is down another near 700 points today as hedge funds liquidate to make margin payments.

    At least most here aren't retirees who have just watched their portfolios and house values hit the toilet. They are truly f**ked.

[QuakerOats]

is this what they mean by 'trickle down'

maybe republicans don't care about the econonmy, stud.

[ManBearPig...]

Things are following some of the same trends of the '87 crash with some markets being put on limited trading in order to avoid further fall out (i.e. Japan, Russia and we'll see what happens with ours soon).  We haven't gotten to that point yet (we may avoid it depending on how things are handled).  My expectations, and they are shared by traders and other investors I know, is that it's going to be declining further before we start to see it flatten out.  There are worldwide implications of what happens to our market, this is a very critical time not just for us, but the entire world and it's going to take several years, minimum, for us to bounce back from this.  It's serious shit and people need to realize just how much of an impact of what's going on is going to effect them.

what's your call on a bottom?

jesus, just how much did these fucking hedge funds hold?  well, i'm a buyer now.  i'm not a trillionaire, but i have a few hundred to spare.
i'm buying pfizer at the open tomorrow (might give it an hour or so, at this rate, i could save 5% lol).

[The Coach]

"It's the republicans fault" the mating call of the bi-polar left. "It's all their fault, not ours".

[ManBearPig...]

i'd blame the 1995 Community Reinvestment Act which bill clinton signed and made into law.  it was the affirmative action of mortgage lending that opened the floodgates for the ninja loans - ninja = no income no job no asset loans.

[Emmortal]

what's your call on a bottom?

jesus, just how much did these fucking hedge funds hold?  well, i'm a buyer now.  i'm not a trillionaire, but i have a few hundred to spare.
i'm buying pfizer at the open tomorrow (might give it an hour or so, at this rate, i could save 5% lol).

That's the thing, no one really knows where the bottoms is going to be.  We're going to into a huge consumer recession one much like the 1981-1982 one, it's very similar to that so anyone saying they know what's going to happen, really doesn't.  Your guess is as good as anyones on Wall Streets is.  We could very well possibly go into a very large deflation cycle, which asset deflation has already started, goods and services will be next and if that happens, it's going to be VERY hard to turn around from that, that's what the Fed really fears because it will take years to recover from that.  This hasn't happened in any of our lifetimes, last time it did was in the 1930's and the only reason we got out of it was WWII.

Again, this is happening world wide, housing debacles in England, Spain, Ireland is in trouble too.  So just be prepared for very rough times ahead, that's really all that can be said.

[keanu]

That's the thing, no one really knows where the bottoms is going to be.  We're going to into a huge consumer recession one much like the 1981-1982 one, it's very similar to that so anyone saying they know what's going to happen, really doesn't.  Your guess is as good as anyones on Wall Streets is.  We could very well possibly go into a very large deflation cycle, which asset deflation has already started, goods and services will be next and if that happens, it's going to be VERY hard to turn around from that, that's what the Fed really fears because it will take years to recover from that.  This hasn't happened in any of our lifetimes, last time it did was in the 1930's and the only reason we got out of it was WWII.

Again, this is happening world wide, housing debacles in England, Spain, Ireland is in trouble too.  So just be prepared for very rough times ahead, that's really all that can be said.

  I agree with most of this post except the deflation part. With all the money creation going on (go printing presses go) we are headed for stagflation. We're devaluing the currency. Times will be tough.

  I used to volunteer at old age homes as a teenager and spoke with many people who lost their jobs, and homes in the depression. We are in for it.

[ManBearPig...]

i just don't see how the entire world can be in a "global recession". EVERYONE is getting nailed.  maybe because it is indeed "global" now, i.e. all our funds are tied together in one way or another.

what is the true answer?  scratch everything, start from zero?

i realize that the bank leveraging and derivatives are to blame, but our entire economy is based on this.  i find it hard to believe that the 5% of mortgage defaulters caused all this.

do we turn mortgages to liabilities instead of assets on banks statements?  do we add a clause in executive's contracts promising jail time?

 

[ManBearPig...]

as a side note, what i find mind boggling is that there is 7 TRILLION in cash on the sidelines!!!

imagine if that money was sunk into the stock market at once!  instant bull and then some market, right?

[RagingBull]

You sir are an idiot if you think it is just the Republican's fault. There are a lot of Democrats that are to blame starting with Pelosi, Reid, Frank and Dodd.

They all got kickbacks from Fannie Mae and Freddie Mac.

EXACTLY...watch this:

[Emmortal]

  I agree with most of this post except the deflation part. With all the money creation going on (go printing presses go) we are headed for stagflation. We're devaluing the currency. Times will be tough.

  I used to volunteer at old age homes as a teenager and spoke with many people who lost their jobs, and homes in the depression. We are in for it.

Well the devaluing of currency directly relates to deflation of assets, goods and services.  The prices of assets are falling already and when goods and services follows (deflation) is when it's going to really hit the shitter.

This is really hitting older people especially those that are about to retire and have a lot of money in their Roth IRA's.  If you are young however, investment wise, it's going to be a ripe time to jump in.  I wouldn't invest in stocks, but mutual funds such as some as the Vanguard mutuals are a great safe bet.

Power Rod: Our economy drives the world economy, we are the number 1 consumer market in the entire world.  When our market suffers EVERYONE in the world suffers.

As far as starting from zero, that would be the worst case scenario.  With the rate at which the DOW is dropping that could very well happen , but in my mind it's highly unlikely.  The DOW is at the lowest point in 5  years after todays drop, 5 years people, and it's not going to be getting better any time soon.

[LATS]

   HHHHMMMMM. so the democrats under pelosi have nothing to do with it?.. they are in charge arent they?..

[gymguy]

Foolish statement.  It rained all day in Miami, too.  Thanks to the republicans.

[chaos]

I had a floater in the toilet today and a couple of little sinkers.


It's the Republicans fault.

[nder98]

I lost about 10k today on my 401k

[Camel Jockey]

i'd blame the 1995 Community Reinvestment Act which bill clinton signed and made into law.  it was the affirmative action of mortgage lending that opened the floodgates for the ninja loans - ninja = no income no job no asset loans.

It was congresses' fault. First, congress asked Fannie Mae and Freddie Mac to buy up as many mortgages as possible from commercial banks like WaMu and Citigroup.. Loans like minority program loans, sub-primes and other shit. Commercial banks knew they could get a certain of mortgages off their books b/c Fannie and Freddie would buy them, so they kept lending and lending. Once Fannie and Freddie faced some defaults, the investment banks took their place and started buying the mortgages only to securitize them by issusing securities backed by those very shitty loans.

Bush pushed congress the idea of increased lending because it was his ideal that every American family should be able to have a home. It was a strong topic of his back in 2003-4.

But the biggest blame lies with the banks, credit agencies and ultimately the PEOPLE. Banks shouldn't have lent out to trailer trash and 'minorities'(blacks and hispanics) without credit and employment checks. Credit agencies like Moodys shouldn't have given out AAA ratings to companies holding massives amounts of mortgages as avaliable for sale securities. And people shouldn't have taken out huge loans they couldn't make payments on.