Well the DOWs off again

[ggnl]

I'm sticking with 6000. But I'm much less confident now.

 

[Fritzo]

Eh, there's too many short sellers out there now. I don't think it'll get much below 6500.

 

[slayer202]

what's wrong with the economy? we place too much emphasis on some stupid fucking numbers that aren't 100% meaningful

 

[dullard]

Originally posted by: slayer202
what's wrong with the economy? we place too much emphasis on some stupid fucking numbers that aren't 100% meaningful

?

Its hard to answer your question without using numbers. What is wrong? Consumers are slashing spending. Companies are losing lots of money. Layoffs and unemployment filings are at record levels (prolonged unemployment filings are also at records - meaning people are losing jobs and can't find new ones). Housing (20% of the economy, the biggest single element aside from total governmental spending) is in the crapper. Oh shoot, I used a number. Foreclosures are at record levels. Unemployment rates have doubled and are continuing to go up. Government deficits are skyrocketting. Banks are failing left and right. I could go on and on.

 

[Cuda1447]

I bet 4500. I came to that conclusion based on the following. It's already at 7000, so its obviously going to go lower. There doesn't seem to be any good news in the near future and things are falling at a fairly quick pace. If it goes below 4500 though... well that just seems really low. Based on the fact that... well it just seems low. Basically my opinion is based on nothing other than pure guessing.

 

[Hacp]

The bottom is when GM and Ford both go under. If we want to hit the bottom faster, we need to let those two companies face the market without a parachute.

 

[thegimp03]

Originally posted by: Hacp
The bottom is when GM and Ford both go under. If we want to hit the bottom faster, we need to let those two companies face the market without a parachute.

Add in Citi and AIG. I don't think someone could burn money faster than these companies.

 

[Fenixgoon]

Originally posted by: dullard

Originally posted by: slayer202
what's wrong with the economy? we place too much emphasis on some stupid fucking numbers that aren't 100% meaningful

?

Its hard to answer your question without using numbers. What is wrong? Consumers are slashing spending. Companies are losing lots of money. Layoffs and unemployment filings are at record levels (prolonged unemployment filings are also at records - meaning people are losing jobs and can't find new ones). Housing (20% of the economy, the biggest single element aside from total governmental spending) is in the crapper. Oh shoot, I used a number. Foreclosures are at record levels. Unemployment rates have doubled and are continuing to go up. Government deficits are skyrocketting. Banks are failing left and right. I could go on and on.

summary: people were stupid and irresponsible, and now we're in this giant clusterfuck.

 

[techs]

Originally posted by: Fenixgoon

Originally posted by: dullard

Originally posted by: slayer202
what's wrong with the economy? we place too much emphasis on some stupid fucking numbers that aren't 100% meaningful

?

Its hard to answer your question without using numbers. What is wrong? Consumers are slashing spending. Companies are losing lots of money. Layoffs and unemployment filings are at record levels (prolonged unemployment filings are also at records - meaning people are losing jobs and can't find new ones). Housing (20% of the economy, the biggest single element aside from total governmental spending) is in the crapper. Oh shoot, I used a number. Foreclosures are at record levels. Unemployment rates have doubled and are continuing to go up. Government deficits are skyrocketting. Banks are failing left and right. I could go on and on.

summary: people were stupid and irresponsible in electing the previous administration, and now we're in this giant clusterfuck.

Fixed.