Dow Below 10,000

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LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: boomerang
Originally posted by: Dissipate
If you have a brain, go into your bank, get all the savings you have out, go into the local gold bullion dealer and buy every piece of gold and silver you can get your hands on.

So this is what you've done? How much money did you move? We're still buying things with dollars in this country, so how are you paying for gas? Food? Utilities?

Silly boy. Gas stations take gold now. Didn't ya know?
 

Dari

Lifer
Oct 25, 2002
17,133
38
91
Originally posted by: Skoorb
Originally posted by: Dari
Oil is in the 80s. Yipee.
And I win $10 in a bet I made months ago that it would get back below $90 this year. Unfortunately, I feel unsatisfied because I've lost many magnitudes that win in a single day of market ill.

I really didn't want to see the DOW drop this hard today, I mean come ON.

All of this was inevitable. It just goes to show how global this problem is. I remember when the economy was doing so well, I wondered why. After seeing that Wall Street was making roughly 40% of all profit and the housing construction industry was responsible for 42% of new jobs, I knew we were fucked. Someone said it best when they said that America doesn't really make anything anymore. We need to rebalance the economy.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: bdude
Originally posted by: Nocturnal
So what would happen if it went down to say 8000 or 7000 or even 5000? Or what if it went down to 1000? What would be the outcome then? The apocalypse?

No, just a crappy slowdown.

Lots of lost jobs, bankruptcies, and the like. More homeless, more crime...etc...

Meanwhile as Nero fiddled:

10-6-2008 Congress hears Lehman sought millions for execs

Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.

Waxman questioned Fuld on whether it was true he took home some $480 million in compensation since 2000, and asked: "Is that fair?"

Fuld took off his glasses, held them, and looked uncomfortable. He said his compensation was not quite that much.

"We had a compensation committee that spent a tremendous amount of time making sure that the interests of the executives and the employees were aligned with shareholders," he said. Fuld said he took home over $300 million in those years ? some $60 million in cash compensation.

In January, Fuld and his board were warned the company's "liquidity can disappear quite fast."

Despite that warning, he said, "Mr. Fuld depleted Lehman's capital reserves by over $10 billion through year-end bonuses, stock buybacks, and dividend payments."

Rep. Elijah Cummings, D-Md., said: "I wonder how he sleeps at night."
==================================================

I am sure he sleeps quite well with $300 million dollars.
 

bobcpg

Senior member
Nov 14, 2001
951
0
0
Hey Europe, Enjoy your McDonalds, Burger King, Walmart, Budwiser and now our economy - You think you are so independent from the US, HAHAHAHAH.

You need us more than we need you. Look at what all your bad talk and ill will toward the US got you into.
 

BoberFett

Lifer
Oct 9, 1999
37,562
9
81
Originally posted by: Skoorb
Originally posted by: Dari
Oil is in the 80s. Yipee.
And I win $10 in a bet I made months ago that it would get back below $90 this year. Unfortunately, I feel unsatisfied because I've lost many magnitudes that win in a single day of market ill.

I really didn't want to see the DOW drop this hard today, I mean come ON.

Skoorb, didn't you know? It's the Drive for $5... per barrel.
 

Dari

Lifer
Oct 25, 2002
17,133
38
91
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

I heard it on Real Time with Bill Maher and I believe he was quoting someone. Would that someone be you?
 

PingSpike

Lifer
Feb 25, 2004
21,747
579
126
Kind of glad I'm young and didn't bother with a 401K for the first part of my working career. I only have like $4000 to lose in mine.

Sucks about my savings though, I'm hoping hyper inflation doesn't hose those.
 

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
Originally posted by: PingSpike
Kind of glad I'm young and didn't bother with a 401K for the first part of my working career. I only have like $4000 to lose in mine.

Sucks about my savings though, I'm hoping hyper inflation doesn't hose those.

The hyper inflation scenario IMHO is unlikely.

More likely stagflation, or deflation.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: Pliablemoose
Originally posted by: PingSpike
Kind of glad I'm young and didn't bother with a 401K for the first part of my working career. I only have like $4000 to lose in mine.

Sucks about my savings though, I'm hoping hyper inflation doesn't hose those.

The hyper inflation scenario IMHO is unlikely.

More likely stagflation, or deflation.

Quoted and bolded for laughs later
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: dmcowen674
Originally posted by: Pliablemoose
Originally posted by: PingSpike
Kind of glad I'm young and didn't bother with a 401K for the first part of my working career. I only have like $4000 to lose in mine.

Sucks about my savings though, I'm hoping hyper inflation doesn't hose those.

The hyper inflation scenario IMHO is unlikely.

More likely stagflation, or deflation.

Quoted and bolded for laughs later

It is far more likely than inflation at this point. That or it'll counteract inflationary pressures.
 

sandorski

No Lifer
Oct 10, 1999
70,226
5,802
126
Originally posted by: Specop 007
Buy the fear, sell the euphoria.

However, this is NOT the time to buy IMO. I only wish I would have had mymoney in savings these past few weeks.

If I had a pile of money I'd probably go silver, bullion not some bullshit ETF. Maybe gold if you pile of cash is big enough but even commodities have been aall over the map the past few months.

I tried playing this game to make some nice scores and I have but I lost my ass the past week or so. Ya win some and ya lose some I guess.

Pretty much. Bonds or other Gauranteed return Investments seem to be the best bet at this time. Just choose something that will be better than Inflation, which may be difficult to estimate, but I suspect 5% returns might exceed Inflation. Staying with Cash until the Market bottoms is probably the best strategy.

Gold, Silver, and other Commodities is way too volatile to Invest in. Unless one wants to constantly watch it and Buy/Sell Daily at any moment to take advantage of fluctuations.
 

Wreckem

Diamond Member
Sep 23, 2006
9,461
996
126
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

You are a moron if you think everything is Bush's fault.

Truth be told all this crap is a result of 30+ years of fiscal mismangement by the govt and 20+ years of rampant consumerism by the american people. The american people and the american govt has far to long over extended itself. There has been a culture of consumerism and that is the problem. People(and the Govt) spending way more than they make.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: Wreckem
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

You are a moron if you think everything is Bush's fault.

I'm as much a moran as Republicans claiming it's all Clinton's fault
 

BoberFett

Lifer
Oct 9, 1999
37,562
9
81
Originally posted by: dmcowen674
Originally posted by: Wreckem
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

You are a moron if you think everything is Bush's fault.

I'm as much a moran as Republicans claiming it's all Clinton's fault

At least you're finally starting to be honest with yourself.
 

aldamon

Diamond Member
Aug 2, 2000
3,280
0
76
Surging back to 10K. Dead cat bounce or have they decided the punishment is over?
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Originally posted by: aldamon
Surging back to 10K. Dead cat bounce or have they decided the punishment is over?

I was thinking capitulation maybe? (well, actually hoping after the brutal 12 months that I've had).
 

RichardE

Banned
Dec 31, 2005
10,246
2
0
Originally posted by: aldamon
Surging back to 10K. Dead cat bounce or have they decided the punishment is over?

It always bounces back near the end of the day. People buy with 30min-one hour left so they can sell tommorow usually.
 

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
Originally posted by: aldamon
Surging back to 10K. Dead cat bounce or have they decided the punishment is over?

It's paring its losses on speculation of a coordinated interest rate cut.

And I suspect it'll happen, but the long term consequences of a coordinated global rate cut are unknown.
 

Wreckem

Diamond Member
Sep 23, 2006
9,461
996
126
Originally posted by: dmcowen674
Originally posted by: Wreckem
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

You are a moron if you think everything is Bush's fault.

I'm as much a moran as Republicans claiming it's all Clinton's fault

Yeah they are morons too.

This is almost everyones fault, Dems and Repubs, Corporations, the American people(well a lot of them). EVERYONE...

I used to be like most american spending well beyond thier means. But over the past couple years Ive changed that, and this fall I was smart. I got out of my $675 600sqft 1 bedroom , and moved into all bills paid $350 250 sqft efficancy.
 

jman19

Lifer
Nov 3, 2000
11,220
654
126
Originally posted by: dmcowen674
Originally posted by: Dari
Someone said it best when they said that America doesn't really make anything anymore.

That would be me that said way back early in the Bush Regime.

:laugh:

Ok, Dave.

Tell me, where is $5/gal gas?