Market Down, Again

[Jhhnn]

Hmm. Looks like I'll have to spend the weekend framing a response that somehow impunes the economic wisdom of Enron's financial advisor. Boy, that's a toughie. If only there were some sort of bias in The conscience of a liberal, something to support the notion that he might find additional government spending to be the answer for literally every social ill. Anything at all . . .

Guess I'll have to go home and slap my wife. Things aren't getting more expensive, they're getting cheaper! Come to think of it, I'll have to slap myself too.

Don't be a mow-ron, OK? If you want to be credible, impugn the 3 branches of the FRB whose charts he provides.

He worked for the Reagan Admin, too...

 

[JSt0rm]

The tea party fucked us. amazing. Interest rates are gonna go up now? I have no debt myself but I'm not ignorant to how this could effect my business.

 

[Jhhnn]

The tea party fucked us. amazing. Interest rates are gonna go up now? I have no debt myself but I'm not ignorant to how this could effect my business.

Why the hell do you think that the most radical right republicans astroturfed the tea party, if not to fuck us?

 

[theeedude]

This is going to more than undo the so called "savings" the teabaggers got out of their whole deficit freak show.

 

[JSt0rm]

This is going to more than undo the so called "savings" the teabaggers got out of their whole deficit freak show.

I said it in the babyboomer thread. The whole purpose is to stop inflation. fuck them.

 

[the DRIZZLE]

Everyone here should read the actual report from S&P. It only takes a few minutes and you don't need a finance background to understand.. IMO their assumptions are actually fairly generous. I think the reality will look at lot more like their downside case than their base case.

 

[Lanyap]

Thanks werepossum I appreciate your response.

I might hold off on the PC and buy some shares instead..!

If your current PC is handling your computing needs then invest your money. Down turns like this are usually a good time to buy into general mutual funds if you are investing for the long term.

 

[Jhhnn]

If your current PC is handling your computing needs then invest your money. Down turns like this are usually a good time to buy into general mutual funds if you are investing for the long term.

Heh. You're half right, the part abut the computer. Buy into a falling market with no end in sight? Brilliant.

Follow the big boys- stay liquid until there's some sign of a turnaround. That might take awhile, because stimulus is off the table and debt overhang from the housing bubble is still huge. It will be for another decade, unless more unemployment blows the bottom out of the economy, invokes a true debt deflation spiral. If that happens, the only things that are safe are cash & unencumbered income generating assets. Very few people have much of either.

 

[Nemesis 1]

The tea party fucked us. amazing. Interest rates are gonna go up now? I have no debt myself but I'm not ignorant to how this could effect my business.

Man you are gone . You don't care about AMERICANS you only care about idealology of parties in gobberment . You believe history is real . Than tell me about the history of world gobberments and any that haven't changed since the big guy beat up the little guy and made him his bitch . Your an educated idiot. Your a member of the faternity of sheep who were shepparded by wolves.

 

[Bitek]

Heh. You're half right, the part abut the computer. Buy into a falling market with no end in sight? Brilliant.

Follow the big boys- stay liquid until there's some sign of a turnaround. That might take awhile, because stimulus is off the table and debt overhang from the housing bubble is still huge. It will be for another decade, unless more unemployment blows the bottom out of the economy, invokes a true debt deflation spiral. If that happens, the only things that are safe are cash & unencumbered income generating assets. Very few people have much of either.

This.

Be careful and don't fuck around with your money. That said, its often darkest before dawn. You have to take risks and that involves buying when everyone else is selling and freaking out, and selling when everyone is giddy. Basically emotions can betray you.

This could be over in a few weeks, maybe a few months. I don't sure as hell wouldn't want to guess. I would try to do as much learning as you can before you jump in. You will mess up and lose money often enough... so be prepared

 

[Bitek]

S&P downgraded the US. Should make for a lovely Monday.


Highlights:

Outlook:

The outlook on the long-term rating is negative. As our downside alternate
fiscal scenario illustrates, a higher public debt trajectory than we currently
assume could lead us to lower the long-term rating again. On the other hand,
as our upside scenario highlights, if the recommendations of the Congressional
Joint Select Committee on Deficit Reduction--independently or coupled with
other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated,
and we believe they are likely to slow the deterioration of the government's
debt dynamics, the long-term rating could stabilize at 'AA+'.
On Monday, we will issue separate releases concerning affected ratings in
the funds, government-related entities, financial institutions, insurance,
public finance, and structured finance sectors.

and:

The political brinksmanship of recent months highlights what we see as
America's governance and policymaking becoming less stable, less effective,
and less predictable than what we previously believed. The statutory debt
ceiling and the threat of default have become political bargaining chips in
the debate over fiscal policy. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. Republicans and
Democrats have only been able to agree to relatively modest savings on
discretionary spending while delegating to the Select Committee decisions on
more comprehensive measures. It appears that for now, new revenues have
dropped down on the menu of policy options. In addition, the plan envisions
only minor policy changes on Medicare and little change in other entitlements,
the containment of which we and most other independent observers regard as key
to long-term fiscal sustainability.
Our opinion is that elected officials remain wary of tackling the
structural issues required to effectively address the rising U.S. public debt
burden in a manner consistent with a 'AAA' rating and with 'AAA' rated
sovereign peers

Basically we're a pack of retards who couldn't even agree who would piss on the house to try and put the fire out. Outlook for our stupidity remains high.

 

[Bitek]

I'm thinking there may be a bottom soon, and may see an upside reversal before long.

Markets may take a hit Mon on the opening, but I would not be surprised to see it close up, with some upward movement for the week.

Lots of cash sitting out there looking for a place to go.

 

[wuliheron]

I'm thinking there may be a bottom soon, and may see an upside reversal before long.

Markets may take a hit Mon on the opening, but I would not be surprised to see it close up, with some upward movement for the week.

Lots of cash sitting out there looking for a place to go.

Stocks going down when corporate earnings are good. Italy and the US threatening to default on their loans when they have the money to pay. Three years of the worst recession since the great depression and everyone is out of options. Its pretty clear the big fish have already eaten all the small fry and now its time to turn on each other. I'd rather gamble my money in Vegas then try to predict what will happen next. This is entirely new territory with the multinationals kicking everyone's ass.