Another ugly day on wallstreet...
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sfsuphysics
Supporting Member
Heheh, wall street is not an indication of how well the economy or banking system is doing, it's just an indication to how panicked people can get 
tuberider
Guest
[quote author=sfsuphysics link=topic=4739.msg57672#msg57672 date=1223308148]
Heheh, wall street is not an indication of how well the economy or banking system is doing, it's just an indication to how panicked people can get
[/quote]
Well put, it's gonna take a while for the bailout to kick in and increase liquidity.
Hopefully the final outcome will be a great reduction in usery, and the value of the dollar is exactly that a dollar, not an I owe you.
Heheh, wall street is not an indication of how well the economy or banking system is doing, it's just an indication to how panicked people can get
[/quote]
Well put, it's gonna take a while for the bailout to kick in and increase liquidity.
Hopefully the final outcome will be a great reduction in usery, and the value of the dollar is exactly that a dollar, not an I owe you.
sfsuphysics
Supporting Member
Jeremy my friend you are much more optimistic than I, unfortunately I recall airlines getting bailed out, and where are they now? Right back in the same place now it's something else they're complaining about, US auto industry? Same thing.
tuberider
Guest
I'm not optimistic Mike, but don't exactly see Soylent Green either, at least not until the population bomb finally destroys our resources. I've lived with no running water, no plumbing, my utilities came from an extension chord stretched over to an empty boatyard. I was very happy then and I can do it again n/p, it's those that live beyond their means and think that money somehow makes money that are going to be hurtin'.
http://au.youtube.com/watch?v=vVkFb26u9g8
http://au.youtube.com/watch?v=vVkFb26u9g8
sfsuphysics
Supporting Member
Saw that video sometime ago, a bit long (hourish) but VERY informative, I've never taken econ classes or anything but it was quite eye opening (which is why I was so much against the bailout.)
Paradox
Guest
The bailout is just the latest move to rip off the people and make the already incredibly wealthy ..wealthier. This bailout moved america into the realm of socialism. Plus as mentioned earlier, the american economy is based on a debt system. A fiat currency that has nothing backing it. Our money is just made out of thin air! This is what causes inflation,which has been steadily controlled since the creation of the Federal reserve. The more money made, the more debt is created. The value of the dollar goes down because more is made and floods the market. This system seemed to be doomed from the start. With the insane amount of money created in the last 10 yrs due to our gov spending, the value of the dollar dropped at incredible rates causing the collapse. The bail outs dont make sense. Its trying to save a dept by creating more money..that in terms creates more debt.. They are patches that temporarily holds back the problem but never addresses the real issue. We need to stop letting private organizations like the federal reserve run our economy and go back to a system that will be a gold/metal based standard.
sfsuphysics
Supporting Member
A quote I love is "The Federal Reserve is about as federal as Federal Express"
Paradox
Guest
Exactly!
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
Lets hope the King God emperor Henry Paulson will keep main street in mind when using our well earned money and our children's well earned money. This is the status he seemed to have achieved now that he has been given complete power to spend 700 billion dollars. That money could have made 700 thousand milionaires.. or cured poverty or hunger in 3rd world countries, or addressed our housing crisis(claimed to be the cause of our economic crisis). I recall reading a financial aricle a while back stating that the total amount of bad morgages in the US was only 150 billion dollars or so. What did we need the other 550 billion? Oh yeah to buy the worthless papers of wall st. so they can make more money.
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
Lets hope the King God emperor Henry Paulson will keep main street in mind when using our well earned money and our children's well earned money. This is the status he seemed to have achieved now that he has been given complete power to spend 700 billion dollars. That money could have made 700 thousand milionaires.. or cured poverty or hunger in 3rd world countries, or addressed our housing crisis(claimed to be the cause of our economic crisis). I recall reading a financial aricle a while back stating that the total amount of bad morgages in the US was only 150 billion dollars or so. What did we need the other 550 billion? Oh yeah to buy the worthless papers of wall st. so they can make more money.
tuberider
Guest
[quote author=Paradox link=topic=4739.msg57716#msg57716 date=1223326523]
Exactly!
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
[/quote]
And that is why usery is a non noble, cheating, race to the end, one entity having everything, non producing, unaccountable, hard work earned money vortex.
It pisses me off to think that so many people that do nothing for a living, produce nothing for a living, and make more money than god feel it's the way the world works. They just got by for a while gambling, and creating something that's not there, now they cry poor mouth and wonder why "Joe six pack" isn't out buying a bunch of crap right now. Grrrrrrrrr!!!! >
Exactly!
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
[/quote]
And that is why usery is a non noble, cheating, race to the end, one entity having everything, non producing, unaccountable, hard work earned money vortex.
It pisses me off to think that so many people that do nothing for a living, produce nothing for a living, and make more money than god feel it's the way the world works. They just got by for a while gambling, and creating something that's not there, now they cry poor mouth and wonder why "Joe six pack" isn't out buying a bunch of crap right now. Grrrrrrrrr!!!! >
corals b 4 bills
Guest
Yea my mother inlaw lost about a 1/4 million during this whole mess, we didnt do too badly so far we have only lost $80 grand in the stock market.
sfsuphysics
Supporting Member
Yanno, you're not to worried about "losing $80 grand" yet you freak out when there's a crack in the bottom of your tank that cost a couple thousand (?)... thems priorities there son! You need to run for President of the club
iani
Supporting Member
[quote author=tuberider link=topic=4739.msg57736#msg57736 date=1223337683]
I have a client that lost 335,000 last week, I'm afraid to call him to schedule an appointment, luckily he owns half the coast
[/quote]
That's not bad. My dad is probably somewhere around there too lol. He keeps saying he doesn't care its just my brother and my inheritance. He would tell me he would loose 100-200 thou in a day. I would tell him that's a down payment for a house for me. haha.
I have a client that lost 335,000 last week, I'm afraid to call him to schedule an appointment
, luckily he owns half the coast [/quote]
That's not bad. My dad is probably somewhere around there too lol. He keeps saying he doesn't care its just my brother and my inheritance. He would tell me he would loose 100-200 thou in a day. I would tell him that's a down payment for a house for me. haha.
iani
Supporting Member
[quote author=Paradox link=topic=4739.msg57716#msg57716 date=1223326523]
Exactly!
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
Lets hope the King God emperor Henry Paulson will keep main street in mind when using our well earned money and our children's well earned money. This is the status he seemed to have achieved now that he has been given complete power to spend 700 billion dollars. That money could have made 700 thousand milionaires.. or cured poverty or hunger in 3rd world countries, or addressed our housing crisis(claimed to be the cause of our economic crisis). I recall reading a financial aricle a while back stating that the total amount of bad morgages in the US was only 150 billion dollars or so. What did we need the other 550 billion? Oh yeah to buy the worthless papers of wall st. so they can make more money.
[/quote]
Supposedly the total bailout may be 700 billion. I think immediately only 100 or 150 billion was given to the banks. I heard on cnbc something about another 100 billion being available in a couple weeks or a month. The 700 billion is just the potential total bailout. Its not all the money that has already been given.
Exactly!
To simply state it, the Bailout seems to be again the same old privatizing gains to the few and socializing losses to the many.
Lets hope the King God emperor Henry Paulson will keep main street in mind when using our well earned money and our children's well earned money. This is the status he seemed to have achieved now that he has been given complete power to spend 700 billion dollars. That money could have made 700 thousand milionaires.. or cured poverty or hunger in 3rd world countries, or addressed our housing crisis(claimed to be the cause of our economic crisis). I recall reading a financial aricle a while back stating that the total amount of bad morgages in the US was only 150 billion dollars or so. What did we need the other 550 billion? Oh yeah to buy the worthless papers of wall st. so they can make more money.
[/quote]
Supposedly the total bailout may be 700 billion. I think immediately only 100 or 150 billion was given to the banks. I heard on cnbc something about another 100 billion being available in a couple weeks or a month. The 700 billion is just the potential total bailout. Its not all the money that has already been given.
Vincerama2
Supporting Member
[quote author=Elite link=topic=4739.msg57742#msg57742 date=1223339515]
I don't even have $80K to lose :-[ ..
[/quote]
I uh, also lost $80k, so if anyone sees it, it's mine, just bring it to the next club meeting!
Just kidding! I think over 20 years, I've lost 20k in the market and gained 1,500. So I'm in the hole 18,500. Which is why I vow never to buy individual stocks ever again. But again, that's over a 20 year span and it includes me being "boiler-roomed back in the early 90's and then a "hot stock tip" from a friend who is an idiot"
I don't even have $80K to lose :-[ ..
[/quote]
I uh, also lost $80k, so if anyone sees it, it's mine, just bring it to the next club meeting!
Just kidding! I think over 20 years, I've lost 20k in the market and gained 1,500. So I'm in the hole 18,500. Which is why I vow never to buy individual stocks ever again. But again, that's over a 20 year span and it includes me being "boiler-roomed back in the early 90's and then a "hot stock tip" from a friend who is an idiot"
sfsuphysics
Supporting Member
Vince, the goal is to sell when high and buy when low though