I just listened to a money matters program on the radio over the weekend and they (Finkelstein) claimed that the economy is doing fine. In fact you may make even more money investing in China. People keep making money in the stock market. If you invest in the stock market during a down trend you make even more money.
blackangst1
Lifer
- Feb 23, 2005
- 22,914
- 2,359
- 126
The housing market crumbled when the secondary market collaped awhile ago (I think you posted about that).
It's actually not such a bad thing. Housing is alot more affordable for those wanting to buy a house
BTW...Toyota is number one in what exactly?
Originally posted by: blackangst1
The housing market crumbled when the secondary market collaped awhile ago (I think you posted about that).
It's actually not such a bad thing. Housing is alot more affordable for those wanting to buy a house
BTW...Toyota is number one in what exactly?
Toyota has replaced GM at the top.
The housing market since 2001 was a Republican house of cards along with the Economy.
They are both crashing hard and fast.
blackangst1
Lifer
- Feb 23, 2005
- 22,914
- 2,359
- 126
Originally posted by: dmcowen674
Originally posted by: blackangst1
The housing market crumbled when the secondary market collaped awhile ago (I think you posted about that).
It's actually not such a bad thing. Housing is alot more affordable for those wanting to buy a house
BTW...Toyota is number one in what exactly?
Toyota has replaced GM at the top.
The housing market since 2001 was a Republican house of cards along with the Economy.
They are both crashing hard and fast.
Well, Toyota is on its way to topping GM, but it hasnt happened yet. But as usual, you get overexcited.
LOL @ Republican house of cards...what a dolt! Republicans have absolutely ZERO to do with the collapse of the housing market lol...it has to do with two things mostly:
1. The prevolance of ARM's in the late 90's and early 00. Principle is coming due and people bit off more than they can chew;
2. Greedy SECONDARY lenders taking larger than usual risks in selling mortgages to a risky sector.
Dave, sorry, but once again you dont have a clue about economics....I can post 20+ links to support what I just said. Youre just plain stupid with your blind hatred of Republicans.
This can't be. The resident Republicans swear wages are rising.
5-15-2007 Worker's Wages Drops
The average weekly U.S. worker's earnings, adjusted for inflation, fell 0.5 percent, the U.S. Labor Department reported Tuesday.
5-15-2007 Worker's Wages Drops
The average weekly U.S. worker's earnings, adjusted for inflation, fell 0.5 percent, the U.S. Labor Department reported Tuesday.
The news over the last two days clearly shows the widening gap in America between the rich and poor:
5-30-2007 S&P Reaches Record
The S&P 500 set a new all-time closing high on Wednesday, eclipsing its previous record of 1527.46 set on March 24, 2000, the start of the technology downturn that cut the index in half over the next 2 1/2 years.
The Nasdaq has recovered a little more than half of its nearly 80% decline from 2000-2002, while the Dow eclipsed its 2000 peak last year.
5-31-2007 Economy Has Worst Growth Since 2002
The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.
The new reading on the gross domestic product, released by the Commerce Department Thursday, showed that economic growth in the January-to-April quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
Federal Reserve Chairman Ben Bernanke doesn't believe the economy will slide into recession this year, nor do Bush administration officials. But ex Fed chief Alan Greenspan has put the odds at one in three.
5-30-2007 S&P Reaches Record
The S&P 500 set a new all-time closing high on Wednesday, eclipsing its previous record of 1527.46 set on March 24, 2000, the start of the technology downturn that cut the index in half over the next 2 1/2 years.
The Nasdaq has recovered a little more than half of its nearly 80% decline from 2000-2002, while the Dow eclipsed its 2000 peak last year.
5-31-2007 Economy Has Worst Growth Since 2002
The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.
The new reading on the gross domestic product, released by the Commerce Department Thursday, showed that economic growth in the January-to-April quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
Federal Reserve Chairman Ben Bernanke doesn't believe the economy will slide into recession this year, nor do Bush administration officials. But ex Fed chief Alan Greenspan has put the odds at one in three.
Another dmcowen674 prediction made many years ago comes home to roost:
8-12-2007 U.S. homeowner woes felt around world
FRANKFURT, Germany - The latest crisis in financial markets has once again served as a reminder of how vital and interconnected the health of the U.S. economy is to that of the rest of the world.
Global interdependency isn't a recent phenomenon: The Wall Street stock market crash of 1929 and the Great Depression affected the entire world, and helped create the conditions for the rise of fascism in Europe.
From New York to Frankfurt to Tokyo, markets were jolted in the past week by fears that Americans are failing to keep up with their mortgage payments and the ripple effects that could have on the global banking and financial system.
Around the globe, small-time investors are taking a beating.
"We all feel threatened, problems on the stock exchange have consequences for the economy of America and of the world" said Gabriella Savarini, a 69-year-old shopkeeper in Rome. "America influences all, for good or for bad."
The distress in the markets makes it harder and more expensive for businesses and consumers to get loans and cash, Archer said. If companies cannot get loans, they cannot expand and may have to cut expenses, typically through layoffs.
America faced a crisis similar to the current mortgage fiasco when hundreds of savings and loan companies went belly-up in the 1980s. Back then, the fallout did not spread dramatically to foreign shores because the U.S. government stepped in to bail out the banks and repay depositors.
But the past two decades have seen a quantum leap in globalization and outsourcing, crumbling trade barriers, and a revolution in financial markets have knit the world tightly together.
A steep sell-off in global markets on Thursday and Friday was triggered by distress signals from France's biggest bank, BNP Paribas, which had to freeze billions of dollars in assets in three mutual funds because of the falling value of securities linked to high-risk mortgages taken out by U.S. borrowers.
"I'm sitting here in Brazil and Brazilian markets have gotten crushed by this. ... It's hit all the emerging markets," said Kenneth Rogoff, a former director of research at the International Monetary Fund and now a professor at Harvard University. "If this were to snowball next week, it would affect markets in Turkey, Indonesia."
More Americans are failing to keep up with their home mortgage payments, and there are concerns that this could ripple around the globe because much of the debt from mortgages has been packaged into securities sold to pension funds, banks and other investors who were hungry for high returns on investments.
The same mortgage securities in the U.S. that are crumbling in value are a part of bigger holdings that banks from Japan to Germany bought into because of low U.S. interest rates and a good returns. That is, until the mortgage holders started defaulting.
Meanwhile, the ability of banks to convert assets to cash quickly was in doubt because some were unable to track how much money they poured into now worthless securities backed by sub-prime U.S. mortgages, or loans made to high credit-risk individuals.
Those bad loans raised fears of broader credit troubles that could affect the entire banking and financial system ? concerns that caused stock markets to plummet and threatened pensions.
=================================================
Gee maybe it wasn't such a brilliant idea by the GOP to hand out money like candy to developers???
8-12-2007 U.S. homeowner woes felt around world
FRANKFURT, Germany - The latest crisis in financial markets has once again served as a reminder of how vital and interconnected the health of the U.S. economy is to that of the rest of the world.
Global interdependency isn't a recent phenomenon: The Wall Street stock market crash of 1929 and the Great Depression affected the entire world, and helped create the conditions for the rise of fascism in Europe.
From New York to Frankfurt to Tokyo, markets were jolted in the past week by fears that Americans are failing to keep up with their mortgage payments and the ripple effects that could have on the global banking and financial system.
Around the globe, small-time investors are taking a beating.
"We all feel threatened, problems on the stock exchange have consequences for the economy of America and of the world" said Gabriella Savarini, a 69-year-old shopkeeper in Rome. "America influences all, for good or for bad."
The distress in the markets makes it harder and more expensive for businesses and consumers to get loans and cash, Archer said. If companies cannot get loans, they cannot expand and may have to cut expenses, typically through layoffs.
America faced a crisis similar to the current mortgage fiasco when hundreds of savings and loan companies went belly-up in the 1980s. Back then, the fallout did not spread dramatically to foreign shores because the U.S. government stepped in to bail out the banks and repay depositors.
But the past two decades have seen a quantum leap in globalization and outsourcing, crumbling trade barriers, and a revolution in financial markets have knit the world tightly together.
A steep sell-off in global markets on Thursday and Friday was triggered by distress signals from France's biggest bank, BNP Paribas, which had to freeze billions of dollars in assets in three mutual funds because of the falling value of securities linked to high-risk mortgages taken out by U.S. borrowers.
"I'm sitting here in Brazil and Brazilian markets have gotten crushed by this. ... It's hit all the emerging markets," said Kenneth Rogoff, a former director of research at the International Monetary Fund and now a professor at Harvard University. "If this were to snowball next week, it would affect markets in Turkey, Indonesia."
More Americans are failing to keep up with their home mortgage payments, and there are concerns that this could ripple around the globe because much of the debt from mortgages has been packaged into securities sold to pension funds, banks and other investors who were hungry for high returns on investments.
The same mortgage securities in the U.S. that are crumbling in value are a part of bigger holdings that banks from Japan to Germany bought into because of low U.S. interest rates and a good returns. That is, until the mortgage holders started defaulting.
Meanwhile, the ability of banks to convert assets to cash quickly was in doubt because some were unable to track how much money they poured into now worthless securities backed by sub-prime U.S. mortgages, or loans made to high credit-risk individuals.
Those bad loans raised fears of broader credit troubles that could affect the entire banking and financial system ? concerns that caused stock markets to plummet and threatened pensions.
=================================================
Gee maybe it wasn't such a brilliant idea by the GOP to hand out money like candy to developers???
rpanic
Golden Member
- Dec 1, 2006
- 1,896
- 7
- 81
Right on cue as predicted by me.
Rich trying to save themselves:
8-13-2007 Goldman hedge fund gets $3B bailout
NEW YORK - Goldman Sachs Group said Monday it is leading a group of investors that includes Maurice "Hank" Greenberg and Eli Broad, sinking $3 billion into one of its biggest hedge funds which has seen its value plunge amid market volatility.
The investment bank said its Global Equity Opportunities fund "suffered significantly" as global markets sold off on worries about debt and credit. The fund lost about 28 percent in the past few weeks, dragging its value down to $3.6 billion, from about $5 billion last month.
Goldman Sachs will invest $2 billion. Other investors will contribute about $1 billion to the fund, whose computer-driven investment strategies were disrupted by triple-digit swings in the financial markets.
In addition, the investment bank said that two other hedge funds it manages ? Global Alpha and the North American Equities Opportunities Fund ? have also suffered during the market dislocation. The Alpha fund, for instance, has lost 27 percent of its value ? with more than half of that last week alone.
Viniar would not say if the bank was considering similar action for the other two funds, which combined are worth about $6.4 billion. He said Goldman has spent the past week reducing the risk and leverage for all three funds to stem losses.
The $2.7 trillion hedge fund industry uses investments from wealthy individuals and institutions to make bets on stocks and other securities using sophisticated investment strategies.
Rich trying to save themselves:
8-13-2007 Goldman hedge fund gets $3B bailout
NEW YORK - Goldman Sachs Group said Monday it is leading a group of investors that includes Maurice "Hank" Greenberg and Eli Broad, sinking $3 billion into one of its biggest hedge funds which has seen its value plunge amid market volatility.
The investment bank said its Global Equity Opportunities fund "suffered significantly" as global markets sold off on worries about debt and credit. The fund lost about 28 percent in the past few weeks, dragging its value down to $3.6 billion, from about $5 billion last month.
Goldman Sachs will invest $2 billion. Other investors will contribute about $1 billion to the fund, whose computer-driven investment strategies were disrupted by triple-digit swings in the financial markets.
In addition, the investment bank said that two other hedge funds it manages ? Global Alpha and the North American Equities Opportunities Fund ? have also suffered during the market dislocation. The Alpha fund, for instance, has lost 27 percent of its value ? with more than half of that last week alone.
Viniar would not say if the bank was considering similar action for the other two funds, which combined are worth about $6.4 billion. He said Goldman has spent the past week reducing the risk and leverage for all three funds to stem losses.
The $2.7 trillion hedge fund industry uses investments from wealthy individuals and institutions to make bets on stocks and other securities using sophisticated investment strategies.
Right on cue? Where did you predict that, down to the date?
Wow, so some people who have a lot of money, now want to buy into a fund when the price is cheap?!?!? Color me shocked!
Yeah, I have a net worth over a million bucks despite having ~160k in student loans. Typical dave response.
Where's your prediction sparky?
blackangst1
Lifer
- Feb 23, 2005
- 22,914
- 2,359
- 126
Where, mine?
I've always agreed hedge is risky, and actually, theyve never done anything for me. I prefer straight equity or debt for 80% of my money. The rest I can play with, and have stops and shorts on. Im not a big futures player. Besides...I'm not on the accredited investor list anyway
You know more about that than I do though. But you already know that too
I've always agreed hedge is risky, and actually, theyve never done anything for me. I prefer straight equity or debt for 80% of my money. The rest I can play with, and have stops and shorts on. Im not a big futures player. Besides...I'm not on the accredited investor list anyway
You know more about that than I do though. But you already know that too
Originally posted by: blackangst1
Where, mine?
I've always agreed hedge is risky, and actually, theyve never done anything for me. I prefer straight equity or debt. Besides...I'm not on the accredited investor list anyway
You know more about that than I do though. But you already know that too
Most hedge funds were actually created with the target of diminishing risk, not increasing it (low beta, consistent alpha). Right now the universe of hedge funds is so diverse that the very term "hedge fund" is a meaningless shell, and says nothing at all on the strategy, asset classes or time horizon used.
It's basically just a legal definition.
The rich are trying their damndest to save themselves.
8-17-2007 Fed OK Rare Reduction On Discount Rate on Loans
The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis.
The decision means that the discount rate, the interest rate that the Fed charges to make direct loans to banks, will be lowered to 5.75 percent, down from 6.25 percent.
The Fed did not change its target for the more important federal funds rate, which has remained at 5.25 percent for more than a year. Friday's move was not expected to have an immediate impact on consumer borrowing.
However, it has been infusing billions of dollars in money into the banking system over the past week to keep that rate from rising above the target level.
Stocks soared at the opening of trading on Wall Street, propelling the Dow Jones industrial average up more than 300 points.
8-17-2007 Fed OK Rare Reduction On Discount Rate on Loans
The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis.
The decision means that the discount rate, the interest rate that the Fed charges to make direct loans to banks, will be lowered to 5.75 percent, down from 6.25 percent.
The Fed did not change its target for the more important federal funds rate, which has remained at 5.25 percent for more than a year. Friday's move was not expected to have an immediate impact on consumer borrowing.
However, it has been infusing billions of dollars in money into the banking system over the past week to keep that rate from rising above the target level.
Stocks soared at the opening of trading on Wall Street, propelling the Dow Jones industrial average up more than 300 points.
GoPackGo
Diamond Member
- Oct 10, 2003
- 6,421
- 477
- 126
My guess this is the beginning of a series of rate cuts by the fed.
They have to drop rates to keep the mortgage market from sinking.
They need to be able to get people to re-fi their ARMS to fixed and also to get the housing market going again...
Also...credit card rates keep going up and up.
Sort of getting to the point like when Bush first took office.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
Why do you hate the rich so much? Is it because you're jealous their parents gave them good educations and instilled in them values of financial success? You can still go back and get your GED. Honest, and then your degree and make some money, too, and trust me it's nicer living when you don't blame everything on somebody else because, well, it's your fault your life sucks, not anybody else's, but the power to change it is within reach.
With all the wasted time spent here, surely you could be doing something productive if your life sucks so much, couldn't you?
With all the wasted time spent here, surely you could be doing something productive if your life sucks so much, couldn't you?
Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear, Fear
8-17-2007 Will Wall St Troubles Lead to Recession?
"There is just a lot of fear out there," said David Wyss, chief economist at Standard & Poor's in New York. "Right now people are so scared that we are losing liquidity even on safe securities."
There is also a fear that the credit crunch could harm business borrowing, forcing companies to scale back on their plans to expand their operations, resulting in job layoffs throughout the economy, not just in the construction industry, which has already been struggling with the slowdown in housing.
President Bush, whose approval rating for his handling of the economy was at 41 percent in August, according to the latest AP-Ipsos poll, near the low-point for his presidency, tried last week to calm market fears.
8-17-2007 Will Wall St Troubles Lead to Recession?
"There is just a lot of fear out there," said David Wyss, chief economist at Standard & Poor's in New York. "Right now people are so scared that we are losing liquidity even on safe securities."
There is also a fear that the credit crunch could harm business borrowing, forcing companies to scale back on their plans to expand their operations, resulting in job layoffs throughout the economy, not just in the construction industry, which has already been struggling with the slowdown in housing.
President Bush, whose approval rating for his handling of the economy was at 41 percent in August, according to the latest AP-Ipsos poll, near the low-point for his presidency, tried last week to calm market fears.
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