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R.- it went from 11,000+ to the 8000's in Bush's last year in office.
my company's stock (GD) was $95+ less than a year ago. by October 2008 it had fallen deep into the 50's. this despite the largest backlog in the corporation's history and an EXCELLENT PRICE/EARNINGS RATIO.
so, which one of you has the answers to our economic problems? i know i don't. it appears the rest of the world's nations don't, either.
i do think the war in Iraq was a big part of the problem in this country.-Paul
i didn't mean to single you out, Corey. i did mean to address the generalalized statements that many of our conservative friends have put up on this forum.
please accept my apology.-Paul
Paul
I don’t know the answer, but I bet a big help would be for people and nations to live within their means. Most of our mess now is because of easy credit to people/businesses/corporations/governments that had no business getting it. Even big “healthy” companies/contries were/are guilty of over extending themselves and we are paying the price for it now. I don’t know enough to know how things like real estate values can soar like they did. At one point my house was “worth” 500K. I promise you it is not really worth that, maybe 250K, but never 500K. I am not sure how we got there. I looked at real estate during the growing boom and it just never seemed like a good idea to me that I could buy something for 200K and in a few months or a year it would be worth 400K. It is that old “if it sounds too good to be true” thing, but I guess most people didn’t understand that. Same was true of the internet bubble, how in the hell was a company that had no real assents, such as Amazon, worth a billion dollars? How do these things get so blown up?
i am just as confused concerning real estate values as you are.....
i agree with you 100% concerning living within your means.-Paul
Is this panic selling? Stocks are over sold the value to price should be turning the market around. Momentum traders keep driving the price to where confidence in the market is shaken. The same momentum drove oil to the range of over $100 + per barrel.
i would say that was GREED....-Paul
Quote:
Originally Posted by paul young
And how would you caracterize what your liberal politicians did with Fannie Mae and Freddie Mac?
UB
Quote:
Originally Posted by Uncle Bill
Their politicians are not liberal in the eyes of the sheeple - they are middle of the roaders - along with yellow lines & dead skunks.
Wars are generally good for our economy, not that I advocate starting one for the economy's sake. However, my instincts tell me that Obomo will start a war with either Pakistan or Iran to help maintain popularity. Maybe sending more troops to Afgan. is a step he'll take in proving my instincts correct. Lets send troops over the boaders could be logical to this naive President.Quote:
Originally Posted by paul young
i think there's a difference between lousy oversight and rampant profiteering thru futures option trading.
the politicians in leadership positions were not manipulating the market to reap obscene profits at the expense of us all. they just didn't do their job as it should have been done.
where were "your" politicians at the time, on recess?
this was already addressed on this forum months ago. perhaps you forgot?
i'm just glad a lot of those margin magicians took a bath when their house of cards collapsed. serves them right. there was no basis for $140 per barrel oil other than GREED!-Paul