I agree. However, the end is in sight. The DOW can't go any lower than ZERO, and that's only 7,500 points away. At 500 points per day, that would only be about 2 weeks!!! (just kidding)
In all seriousness, I think that we might get a monster bear market rally once we test DOW 7,200. This will sucker in a LOT of people and then they'll be wiped out as the market shows them that 7,200 was just a waypoint on the way down.
In the last depression, the market lost 89%. That would mean a DOW of about 1,500.
There was a great graph shown on a previous post with the comparisons of previous recessions. We have equaled the 2 largest drops( not counting Great depression) in less than half the time. There are so many other problems brewing. I referred to it earlier as the Perfect Storm forming and I seriously believe it.
I saw that graph posted by David Peeples & thought the same thing.
Mike,
I think you are right too I had a couple of friends that were talking about coming back into the market on the last rally now they are calling me like Lee Thanks.
I've said it in several posts money goes in Prudent bear (bearx)
Trailing total returns
1 day 4.46%
1 week 3.73%
4 week 10.83%
3 month 39.50%
YTD 41.95%
1 year 40.10%
I wonder if he was wearing his skirt and pom-poms while he was saying that nonsense. Just a few months, he was saying that the economy would improve by the 2nd half of 2008. How's that working out?
I wonder if he was wearing his skirt and pom-poms while he was saying that nonsense. Just a few months, he was saying that the economy would improve by the 2nd half of 2008. How's that working out?
People who keep making predictions are bound to get one right.
I think these yahoos don't have a clue!
IMHO.
We are surrounded by idiots running our government and economy who are supposed to be the smartest people in the world.
Could have fooled me!
Will, you're right that they are idiots. However, I don't think anyone could have stopped this crash from occurring. The problem is very simple - we've spent too much (on every level) to support an unearned standard of living for decades. I heard Bob Pisani yesterday say that this was a big ponsi scheme, and I believe that is correct.
There is no fix for a ponsi scheme except for a collapse. Unfortunately, what the government is doing is simply making things MUCH WORSE. The cure for too much borrowing is not more borrowing.
If you check his bank roll it probably did. He did not say it would improve for you!
Smart enough to rip you & the American people off & get away with it, while convincing you that thier to stupid to pull it off! It's all the free market systems fault!
“ Throughout the nation men and women, forgotten in the political philosophy of the Government, look to us here for guidance and ***for more equitable opportunity to share in the distribution of national wealth***… I pledge you, I pledge myself to a new deal for the American people… This is more than a political campaign. It is a call to arms.
Looks like Obama studied the FDR playbook
His inauguration on March 4, 1933 occurred in the middle of a bank panic, hence the backdrop for his famous words: "The only thing we have to fear is fear itself."[43] The very next day he declared a "bank holiday" and announced a plan to allow banks to reopen. However, the number of banks that opened their doors after the "holiday" was less than the number that had been open before.[44] This was his first proposed step to recovery.
I've seen many professionals stating that the S&P 500 goes down to at least 600 and some saying as low as 400. After today's 9% drop, that would be an additional 25%-50% fall. Oh, and some of these professionals were telling people to sell stocks and avoid bonds and move into cash since around 10/2007 (the high).
Watch out for the deflation / inflation inflection point - it might be viscious. If deflation gets to bad the fed's actions may spark a devaluing of the US currency. This may cause inflation in some assets / commodities, and if applied incorrectly may spark hyper-inflation (loss of faith of currency). Be very careful planning your portfolios for '09!
Watch out for the deflation / inflation inflection point - it might be viscious. If deflation gets to bad the fed's actions may spark a devaluing of the US currency. This may cause inflation in some assets / commodities, and if applied incorrectly may spark hyper-inflation (loss of faith of currency). Be very careful planning your portfolios for '09!
I would plan on hyper-inflation :cry:
They will make the problem worse to avoid the pain that has to come to bear. No one wants to face reality the party is over
Why Jeff, so you can pick them off in the streets from your roof top? :lol:
Most of the data I have researched shows the Dow will rest somewhere around 7,000. While it may be that it goes below that as some of you are suggesting, I hope for everyone's sake (401k's, retirerees, etc) that it does not. It could cripple many hundreds of thousands of people, if not millions. That would be a tragedy.
If any of this bear talk comes true, we can only suggest to get out now and move your funds into a more profitable vehicle, I suggest real estate!
Why Jeff, so you can pick them off in the streets from your roof top? :lol:
Most of the data I have researched shows the Dow will rest somewhere around 7,000. While it may be that it goes below that as some of you are suggesting, I hope for everyone's sake (401k's, retirerees, etc) that it does not. It could cripple many hundreds of thousands of people, if not millions. That would be a tragedy.
If any of this bear talk comes true, we can only suggest to get out now and move your funds into a more profitable vehicle, I suggest real estate!
At this juncture, it is all about HARD assets that have a cash throw off
rentals are good, people will need to live, just do not fool yourself with rents, do you buy numbers with a lower market rent to protect yourself
Buy nothing you want, buy what you need on sale, stack cask :cool:
Why Jeff, so you can pick them off in the streets from your roof top? :lol:
As a former Marine we do have a prior trend of doing stuff like that. Can you do prison time for doing it with a paintball gun?
Funny part is, if you really want to shoot people you can, just do not shoot the tax payers, they have problems with that. They will send you overseas to shoot other countries tax payers and you get to be a hero.
I had a friend do two years for shooting the back window of a car from his roof after they ran a stop sign in his neighborhood.
(probably was not the only thing he did wrong that year)
The projectile was considered a missle & something about a moving vehicle. I forget the actual charge but we did not see that fool for a while.