Dow plummeting towards 11,000

[HeXploiT]

A few minutes from close and the Dow is down 330 points and plummeting towards 11,000. NOTHING TO SEE HERE. EVERYTHING IS OK!
Any of you optimists care to guess when she'll bounce past 14,000?
11,000 within 4 weeks.

 

[HeXploiT]

Make that 350 points.

 

[nageov3t]

you say plummet, I say they're trying to save gas by going downhill.

 

[StageLeft]

Pretty bad. I imagine it will be much less volatile tomorrow after people sleep on it. I think 11k is possible but I'm not sure it'll happen. That's still quite a fall it would have to take. I am going to predict it won't happen within the forseeable future.

 

[ayabe]

Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

 

[babylon5]

Just print more money, problem solved!!

 

[Deeko]

WE BETTER SWITCH TO THE GOLD STANDARD OR WE WILL BE LIVING IN CARDBOARD BOXES AND EATING GRUBS WITHIN HOURS!!!!

 

[StageLeft]

Originally posted by: ayabe
Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

Yeah my 401k options are piss fugging poor but with the major match I guess unless the market gets a 50% reduction or something silly, it's still worth it.

 

[dahunan]

Originally posted by: babylon5
Just print more money, problem solved!!

Bingo... BUT - that is what Bush has been doing for about 3 yrs now... or more

We are more fucked than people care to admit

 

[lupi]

Recession /= stock market performance.

 

[StageLeft]

Originally posted by: lupi
Recession /= stock market performance.

or oil or inflation or anything tangible. In fact today I read that we're growing at 1%/year. Of course, that number is meaningless if you consider that it relies on stimulus checks and a toilet paper dollar to do it, so in essence we're only avoiding a recession because it requires a growth of GDP and we're getting that by making the dollar worth nothing so that more of them naturally fill the void.

 

[lupi]

Originally posted by: Skoorb

Originally posted by: ayabe
Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

Yeah my 401k options are piss fugging poor but with the major match I guess unless the market gets a 50% reduction or something silly, it's still worth it.

I checked mine 2 weeks ago and I was up to -.01% for the year (of course still making money with company $ added). I'd hate to check it right now though.

 

[KGB]

Originally posted by: ayabe
Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

Why not put it into oil commodity futures? That will help the economy.

 

[StageLeft]

Originally posted by: lupi

Originally posted by: Skoorb

Originally posted by: ayabe
Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

Yeah my 401k options are piss fugging poor but with the major match I guess unless the market gets a 50% reduction or something silly, it's still worth it.

I checked mine 2 weeks ago and I was up to -.01% for the year (of course still making money with company $ added). I'd hate to check it right now though.

Don't check. I have some IRAs that I don't contribute to and I stopped looking at them long ago. At least my 401k can still grow with a dying stock market because of continual contributions

 

[ultra laser]

Originally posted by: lupi
Recession /= stock market performance.

I agree. It's ludicrous to assume that a recession and the stock market are somehow connected.

 

[dmcowen674]

Originally posted by: KGBMAN

Why not put it into oil commodity futures? That will help the economy.

:laugh:

 

[boomerang]

Look at the chart of the DJI since the thirties and look at the trend. What's happening now is just a small blip.

DJI

Stay the course. Don't look at your statements if it's going to throw you into a tizzy.

It's a GREAT time to buy.

 

[Capt Caveman]

Originally posted by: KGBMAN

Originally posted by: ayabe
Well I don't know how you all are fairing but I just got my 401K statement yesterday and I am taking a beating.

What's awesome is that every one of the 20 or so funds available to me has lost between 5%-15% of their value for this year.

I'm debating on whether to stop contributing until things turn around and rolling it over into something else.

Why not put it into oil commodity futures? That will help the economy.

Or buy more shares while they're low priced.

 

[GTaudiophile]

I just asked my friend what he would do to fix things...

start cutting taxes left and right - the only way to grow without inflation is from innovations so you have to reduce the cost of development. Also would cut government spending because of course inflation is just a hidden tax. The first place where spending would get cut would be in Iraq of course - ie, bring troops home within one month and not drop another dime there. Second place would be "drug" war. Then, we would legalize competing currencies so Fed Reserve mistakes have less of an impact on the market. Now, there is no avoiding a market correction - if there is a bubble, it has to deflate one way or another. But these are all steps that would increase long term growth and reduce the risk of the next bubble occurring. Remember, the vast majority of the increase in the price of oil has been caused by the fall of the dollar, not a rise in the value of oil.

 

[techs]

So the Dow closed today at 11,453. Seems like it just closed at 11,497. Oh, wait, that was almost NINE YEARS AGO.
Despite the fact that this year we have the LARGEST tax cut in our history, we now have had NO increase in the Dow in almost NINE years.
Well, that's what happens when you have huge tax cuts instead of tax policy.
I guess the rich didn't invest in new factories and jobs in America.


---------------------------------
A thread by techs was merged with this thread at 10AM Friday

Both dealt twith the same subject.
This thread was started earlier


Senior Anandtech Moderator
Common Courtesy

 

[Fern]

No, it can't have anything to do with the ridiculously high price of oil/gas.

Nope, nothing at all. :roll:

Fern

 

[StageLeft]

Originally posted by: Fern
No, it can't have anything to do with the ridiculously high price of oil/gas.

Nope, nothing at all. :roll:

Fern

Of course, the US' policies cannot possibly have anything to do with us paying $140/barrel, can they? No influence on speculative fears, no influence on the toilet-paper dollar....

 

[lupi]

R

 

[EagleKeeper]

Why not blame Congress for either backing Bush or not having the gonads in two years to do what they were promissing.

It is more than the President that controls economic policy.
And he does not control the stock market.


But that does not matter - as long as you can bash Bush

 

[CycloWizard]

I always thought that the legislative branch was responsible for the budget, economic planning, and so on. I also thought that the D's are running that show now. So remind me again: how does this have anything to do with the president?