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Thread: Stock Market

  1. #1
    Senior Member Franco's Avatar
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    Default Stock Market

    Anyone keeping track of how far it has fallen since the Dems have been shoving the spendulus bill down our throats? How much has it fallen since the election? Looks like the investment money doesn't like what is going on.
    It's time we abandon our party affiliations and rather than being good Dems or good Repubs we all become good Americans. MJH345

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    I think what they don't like is - no one in this ADMINISTRATION SEEMS TO HAVE A CLUE. , is what this administration is. Back to the R's in 2010. & a 1 term POTUS, more
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  3. #3
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    Dow Jones

    Nov 4, 2008
    9,625

    Feb 13, 2009
    8,726

    That's a 900 point drop, which is about 9%
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  4. #4
    Senior Member K G's Avatar
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    Quote Originally Posted by TN_LAB View Post
    Dow Jones

    Nov 4, 2008
    9,625

    Feb 13, 2009
    8,726

    That's a 900 point drop, which is about 9%
    CNBC shows the DJIA closed at 7850.41 on 2/13/09. I could be wrong, but it think it's been longer than 4 months since it started with a 9....

    kg
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    Quote Originally Posted by K G View Post
    CNBC shows the DJIA closed at 7850.41 on 2/13/09. I could be wrong, but it think it's been longer than 4 months since it started with a 9....

    kg
    doh!

    you are correct. brain fart!
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  6. #6
    Senior Member Franco's Avatar
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    Dow is down 250 points on the signing of the Steal From Us Bill.
    Down to 7,500 and change!
    It's time we abandon our party affiliations and rather than being good Dems or good Repubs we all become good Americans. MJH345

  7. #7
    Senior Member Goose's Avatar
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    Obama doesn't care about the direction of the stock market...just like Fidel Castro doesn't care about the direction of the Cuban stock market.

  8. #8
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    Obama is going to be the worst President....no check that...the WORST leader this world had ever seen....what a freaking joke.

    well here is the changes the SOB promised.


    This guy is proof we need an IQ test for people to vote.
    Last edited by Patrick Johndrow; 02-17-2009 at 03:31 PM.

  9. #9
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    While this is a tad tardy, it's still worth a read, since it's certainly applicable. Again, from Mr. Bonner... enjoy, UB

    The battle is on!

    But let’s take a quick look at the combatants...and try to understand what is really going on.
    On the one side is General Market. He’s a sly, unpredictable...some would say ‘unbeatable’...foe. He’s also extremely aggressive.

    On the other side, there are the feds...the fixers...the meddlers...the central bankers and finance ministers. They have their ground troops, their weapons of mass destruction, their defensive ramparts, and their strategic theories. And many people believe they have the ultimate weapon in this war – the Nuclear Option...

    For the last year and a half, General Market has been master of the field. He’s rolled back the fixers everywhere. The world’s stock markets have suffered defeat after defeat – wiping out about half their wealth, about $30 trillion worth. Even markets thought to be “decoupled” with those of the Western world – such as China and India – fell right over as soon as General Market attacked.

    As to property...General Market has already captured about 25% of the domestic real estate in the United States...and who knows how much overseas.

    In some places, U.S. housing has suffered more damage than from a fire or a tornado. In Lehigh Acres, near Fort Myers, Florida, the New York Times says houses are selling 80% off their peaks. “Fast food restaurants are laying people off or closing. Crime is up, school enrollment is down and one in four residents received food stamps in December, nearly a fourfold increase since 2006.”

    It’s back to the ’30s in Lee County, Florida:
    “The organizations offering food in Lehigh Acres have seen demand increase by as much as 75% in the last year. And the people being served are no longer just the chronic poor. The line at Faith Lutheran had a mix of ages, races, and former income levels.”

    Abandoned houses are stripped of anything that can be sold...and used by drug gangs.

    And it’s not just housing that is being abandoned. “Ghost malls,” are coming soon, says one commentator. People without money don’t buy stuff. And so, malls are where they don’t go. Malls become abandoned...deserted...vandalized, taken over by gangs and crazy people.
    Hasn’t happened yet? Stay tuned...
    General Market has done to world property values about what Sherman did to Atlanta. Nobody knows the total loss, but it is probably near $15 trillion...

    And there are huge losses in other areas too. Corporate bond prices – especially in the ‘junk’ category – have collapsed. Hedge funds, banks and investment firms have lost billions in speculations. The value of minerals and oil have fallen 50% - 75%.
    What’s the total damage? Rupert Murdoch says it’s around $50 trillion – which is probably not too far off the market.

    But the feds aren’t completely beaten. They’re mobilizing all over the world to fight the depression. Yes, the ‘d’ word has escaped the censors. Bill Gross of PIMCO says the US could be headed for a ‘mini-depression.’ And over at MSN Money, Jon Markman wonders if it isn’t already “too late to escape a depression?”

    We keep pointing out that you can fight a recession with rate cuts and more public spending, but you can’t beat a depression using those tactics.
    Still, the feds are going to try! Today’s news tells us that they’re becoming more and more desperate.

    “Obama rolls out his big guns,” says the headline in the International Herald Tribune . The big guns are blasting away in favor of the administration’s Boondogglization program:
    Larry Summers told Congress to pass Obama’s stimulus bill “as quickly as possible, to contain what is a very damaging and potentially deflationary spiral.”
    Obama himself said we might be on the verge of “catastrophe.” And Summers added, “If there was ever a moment to transcend politics, this is that moment.”

    But what good is $1 trillion worth of boondoggle spending going to do? General Market has just erased $50 trillion assets. All together, the feds have probably been able to put back a couple trillion – at most. And most of what they are putting back is just taken from some other front...it is not really a net increase in the feds’ firepower.

    *** There are two main schools of thought on the bailouts.
    1) they are not targeted properly (the media spends a lot of ink debating whether the bailouts should be loans, asset purchases, direct takeovers, bad banks or other gimcrackery)
    2) they are not big enough...(which we will discuss in a minute)
    And then, there’s our hooky school of thought too. If there is evidence or experience to suggest that these bailout plans will work we haven’t heard of it. In the two instances in which they were tried, they failed. Plus, there is no theory that makes any sense to us explaining why or how they SHOULD work. Bad bets don’t get better when you lend the bettor more money. They just become more expensive.

    But no one is interested in our analysis or our advice. We keep our “President’s Hotline” available. Obama can call anytime he wants. We’ll even pay for the call. But no government has ever asked our counsel; probably, none ever will.

    So, let’s return to the advice that the feds are taking seriously:
    The U.S. risks “falling into an economic abyss,” says Nobel-prize winning economist Paul Krugman. He says we’re “on the edge of catastrophe.”
    Hold on a minute. Krugman’s warning bell sounds for all the world like the one we used to ring regularly. We used words like “abyss”... “catastrophe”.... “disaster”... “Armageddon.”. We needed to yell like that to get readers’ attention. Most ignored us anyway; they thought we were kooky alarmists. Besides, they were sure everything was great and getting better all the time.

    Now, we no longer have to use words like ‘apocalypse’ and ‘armageddon.” Thank God. Words like that are hard to spell. Besides the facts shout loudly enough. We don’t need to get anyone’s attention. What’s needed now is quiet reflection.

    Krugman is screaming because he thinks the U.S. bailout plan is not bold enough. He’s right about that. You’re not going to offset General Market’s $50 trillion in damages to with $1 trillion in boodoggles. Krugman thinks you need to spend a lot more.

    The aforementioned Bill Gross of PIMCO agrees. He says “trillions” will have to be spent.
    And so, dear reader, the war goes on.
    And it’s getting more and more expensive. General Market does his damage. And the cost of fighting him mounts. Goldman Sachs says the U.S. Treasury will borrow $2.5 trillion this fiscal year.

    How are they going to borrow that kind of money without driving up the price of borrowed funds? ‘Borrow from yourself,’ say the simpleton advisors. They’re urging the Fed to buy the Treasury’s paper itself. That way, America won’t be beholden to foreign lenders – notably, the Chinese – and bond yields won’t be forced up by the buying pressure.

    But wait a li’l cotton pickin’ minute. Where does the Fed get trillions of dollars to buy U.S. paper? Oh, we forgot...it just creates it ‘out of thin air.’
    Two and a half trillion is nothing but a little ‘2’ and a little ‘5’ followed by 11 little zeros. Heck, the Fed has all the zeros you could want. If not, it can always borrow some from Gideon Gono. He just took 12 zeros off the Zimbabwe dollar; maybe we’ll be able to use them in the US.

    Bill Bonner
    The Daily Reckoning
    When the one you love becomes a memory, that memory becomes a treasure.

  10. #10
    Senior Member kjrice's Avatar
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    I guess people forgot about what a great Job Jimmy Carter did as POTUS, except this one will be worse.
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