How come I'm only paying ~$.50 less a gallon than when oil was at $150/barrel?
The markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash. That's caused investors to exit stocks and move money into the relative safety of government debt.
The long term future is in guns, spam, canned soup, beans, and child labor.Quote from: YahooThe markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash. That's caused investors to exit stocks and move money into the relative safety of government debt.
Why in the hell would you sell now when prices are this low? If you have any kind of longer term investment horizon you would be much better off staying in the market.
Most investors are dumb, probably screaming at their broker to pull everything out.Pretty much. There are smart contrarian investors out there right now salivating because there is big money to be made in these wild and irrational swings in volatility (see: Nassim Taleb).
Did you expect 700 billion to just teleport where it needed to be? Who's fault is that.The $700 billion at this point is an assurance that the worst debt will be absorbed but it's the speculative market people are suiciding.
I blame Ronald Reagan, of course. If people hadn't started using IRAs and 401ks as opposed to actual pension plans, not everybody and their fucking brother would be in the market right now. Know how many households had investments in the stock market in 1976? Like 5%. Now it's like more than half.Most pension plans are funded by some kind of equity investment, and it is not even anywhere as safe as you would think it should be. Companies are required to keep so much invested in what are called "plan assets", which can range from equity securities to corporate debentures, and the amounts invested are determined by assumptions. I am not sure where they are at now, but a few years ago the GM pension plan was massively underfunded and it needed something like 16% annualized rate of return over the next 10 years to provide defined benefits.
The Toronto Stock Exchange:
(http://img.photobucket.com/albums/v219/dirk_diggler_41/torontostockmarket.jpg)
Thats because for years the stock market has been sold as a 'game' to well-off old peopleI can definitely see that being part of it, especially since the 90s when "daytrading" became popular. I think alot of the volatility has to do with momentum and the her mentality, which have been empirically noted for years (i.e. stocks that finish the day down tend to be down the following day as well, and vice versa).
We need a giant fucking computer that simply assigns share prices to company stock on accounting principles.It's called the price to book ratio, although the p/e ratio is much more popular with investors. I think that the p/e ration is much too short-sighted since earnings are often an aberration.
TORONTO, Oct 6 (Reuters) - The Toronto Stock Exchange's main index tumbled more than 1,100 points and more than 10 percent on Monday morning, its biggest percentage drop since October 1987.
What I really want to know is, how is Campbell's stock doing today? No hobo.Down only -0.45%.
It's called the price to book ratio, although the p/e ratio is much more popular with investors. I think that the p/e ration is much too short-sighted since earnings are often an aberration.It's the human element though if the p/b or p/e ratio was good people would still bail since it's about speculation. Anyway I've been hoping the the floor comes soon just so I can feel comfortable that's the rides over and maybe do the smart investor thing.
Hells yeah. Old school warfare is OUT. We're gonna KILL THE TERRERISTS by ELIMINATING MONEY. Take that, filthy Euro-Canuk trash!
Good thinking man.It's called the price to book ratio, although the p/e ratio is much more popular with investors. I think that the p/e ration is much too short-sighted since earnings are often an aberration.It's the human element though if the p/b or p/e ratio was good people would still bail since it's about speculation. Anyway I've been hoping the the floor comes soon just so I can feel comfortable that's the rides over and maybe do the smart investor thing.
Is this really an economic disaster for anyone but the super rich?
Is this really an economic disaster for anyone but the super rich?
Is this really an economic disaster for anyone but the super rich?Everyone has stocks these days. Even if you don't, once people stop spending money on soup, Campbell's will lay off more people. Then those people will go to soup kitchens, and eat non-Campbell's soup, and Campbell's will go bankrupt and lay off its remaining workforce.
YESCanada does it better
the previous record was 777
and now we break it less than a week later
AMERICA! :american
http://www.time.com/time/magazine/article/0,9171,992211,00.html
It's not really close to a record percentage-wise.
And yeah, it's affecting normal folks, not just the super rich. 3 people in my office got laid off this morning. We're down to 14 people now.
And yeah, it's affecting normal folks, not just the super rich. 3 people in my office got laid off this morning. We're down to 14 people now.
You sure it was cause of stock market? Sure they weren't fired just for being too ugly?
Pope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
The Toronto Stock Exchange:
(http://img.photobucket.com/albums/v219/dirk_diggler_41/torontostockmarket.jpg)
edit: it was under 10k today, falling more than 1000 points--the biggest one day percentage drop since 1987.
http://www.timesonline.co.uk/tol/comment/faith/article4893190.eceQuotePope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
That's right! The miracle speculation market is still doing well! And Jesus is still appearing in 1 out of 10000 loaves of bread!
http://www.timesonline.co.uk/tol/comment/faith/article4893190.eceQuotePope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
That's right! The miracle speculation market is still doing well! And Jesus is still appearing in 1 out of 10000 loaves of bread!
http://www.timesonline.co.uk/tol/comment/faith/article4893190.eceQuotePope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
That's right! The miracle speculation market is still doing well! And Jesus is still appearing in 1 out of 10000 loaves of bread!
http://religionclause.blogspot.com/2008/10/prosperity-gospel-may-have-helped.html
http://www.timesonline.co.uk/tol/comment/faith/article4893190.eceQuotePope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
That's right! The miracle speculation market is still doing well! And Jesus is still appearing in 1 out of 10000 loaves of bread!
http://religionclause.blogspot.com/2008/10/prosperity-gospel-may-have-helped.html
To be fair, the Pope had nothing to do with that.
http://www.timesonline.co.uk/tol/comment/faith/article4893190.eceQuotePope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".
That's right! The miracle speculation market is still doing well! And Jesus is still appearing in 1 out of 10000 loaves of bread!
http://religionclause.blogspot.com/2008/10/prosperity-gospel-may-have-helped.html
To be fair, the Pope had nothing to do with that.
Yeah, the Catholic Church isn't interested in mortgages. When was the last time a house squealed like a ten-year-old boy when a priest entered it from behind.
Whenever I bring it up, my dad just sighs and says how many thousands of dollars he's lost in his 401k.
Nobody noticed my avatar change? :'(
Oh great, we're doing avatar quoting, too? :-*Nobody noticed my avatar change? :'(
I did boo.spoiler (click to show/hide)(http://thinkprogress.org/wp-content/uploads/2008/10/palin.gif)[close]
I consulted with my dad on his 401k last weekend. He has lost $26,000 this year as he is in a S&P 500 and Russell 1000 index funds at my recommendation a few years ago. I told him that he could keep his contribution where it's at, or he could invest in treasuries which would guarantee him a positive return in the short-term. He chose to keep contributing to those indexed funds, but he couldn't get over how much he's lost in this quarter alone.Whenever I bring it up, my dad just sighs and says how many thousands of dollars he's lost in his 401k.
I haven't asked my dad, but my wife's lost a good amount of money in her 401k recently.
I haven't bothered to see how my state retirement plan and pension are doing, though.
http://gawker.com/5059535/jim-cramer-begs-america-to-abandon-hope
I might even go as high as a DON'T BUY!:lol
DON'T BUY BLUTH!
http://gawker.com/5059535/jim-cramer-begs-america-to-abandon-hopeHe's full of shit, I just heard him on CNBC saying that there were some great values out there. :lol
We need a giant fucking computer that simply assigns share prices to company stock on accounting principles.It's called the price to book ratio, although the p/e ratio is much more popular with investors. I think that the p/e ration is much too short-sighted since earnings are often an aberration.
I get the feeling that even though regulations will be ramped up considerably in the next administration, some moron 20 years from now is going to make the push for deregulation...and get it.there's no greater motto of life than history repeats itself.
This would render the stock market pointless.Not really since you could still project growth and hence you'd still have investment based on calculated future earnings instead of 'feelings'.
The Toronto stock exchange was 50% higher just a few months ago. My parents' retirement savings are fucked.
This would render the stock market pointless.Not really since you could still project growth and hence you'd still have investment based on calculated future earnings instead of 'feelings'.
Anyway our local stock market cut rates by 1% which has one set of morons talking about buying more shit, another set saying it's a victory for political party X and others knowing that we're truly fucked.
Kashkari, it turns out, was one of the original authors of the bailout plan. In a secretive effort over “many, many months,” he was a part of a small team at Treasury working on the plan, said David H. McCormick, under secretary for international affairs.
“It was certainly a contingency that we hoped we wouldn’t need to consider.”
Although he’ll direct the largest government intervention in the markets in American history, Kashkari told the AEI audience: “I am a free-market Republican.”:-X
“We need to enable the necessary correction to move forward as quickly as possible,” Kashkari said at one point, cutting the air with his hands for emphasis. “We’re having a necessary correction, and we don’t want to do anything to slow it down. We need to get through it.”
Kashkari also made it clear that there’s no “silver bullet” to fix the housing market. “There’s no one tool that’s going to solve all of our problems,” he said.
Still OVER 9000?!??!?!?!??!
What do people do with all of that money?sink 150+ year-old companies.
What do people do with all of that money?
At least he got punched in the face for it.What do people do with all of that money?sink 150+ year-old companies.
What?At least he got punched in the face for it.What do people do with all of that money?sink 150+ year-old companies.
http://www.businessandmedia.org/printer/2008/20081006150152.aspxWhat?At least he got punched in the face for it.What do people do with all of that money?sink 150+ year-old companies.
they should've asked the prez candidates how many points they thought the stock market would go down between the 2nd and 3rd debates
The International Monetary Fund said Thursday that Canada will lead the G7 in economic growth next year and avoid a recession. Shortly after that, the World Economic Forum, a Geneva-based independent think-tank, released a report saying Canada has the world's soundest banking system. Canada's biggest trading partner, the United States, ranked 40th in the world for the soundest of its financial system, behind countries like the Barbados and Namibia.
8,589.70 Down 668.40 (7.22%)
The Experiment, I have no idea where the bottom is, but the Dow is down 5500 from its high of a year ago. At this point, who cares about 300 points.
8,589.70 Down 668.40 (7.22%)
The Experiment, I have no idea where the bottom is, but the Dow is down 5500 from its high of a year ago. At this point, who cares about 300 points.
The bottom can't be too far down. The biggest gains from the past decade have been from the credit default swaps, which started to be used in 1997, around the same time the Dow began exploding. My guess from reading is that the Dow will return to pre-CDS levels, which is 7000-8000.
QuoteThe International Monetary Fund said Thursday that Canada will lead the G7 in economic growth next year and avoid a recession. Shortly after that, the World Economic Forum, a Geneva-based independent think-tank, released a report saying Canada has the world's soundest banking system. Canada's biggest trading partner, the United States, ranked 40th in the world for the soundest of its financial system, behind countries like the Barbados and Namibia.
If only I had money to invent.
Arvie, I wouldn't get too excited if I were you. Remember that we Americans have way, way more guns than you pussy ass Canadians. If necessary we'll just kill your country and wear it's skin.
Son of a bitch.
Son of a bitch.
Like America, Drinky, I am in debt at the moment, and have no money to invest.
By the way, the US federal debt is now over $10 trillion.
hey, even $500 could turn into a couple thousand in a year or two. some of these big institutions with strong capital are at fucking firesale prices.
Investing in some of these bargain basement stocks is looking pretty appealing... :tophatLike some one said before this isn't the bottom. Though I'm just waiting with money in my hand.
Too bad the bailout is so garbage.
No matter what the topic, Evilbore can't help talking about bottoms.
but what are the appropriate stocks to pillage??
but what are the appropriate stocks to pillage??
It may be easier emotionally and intellectually for you to simply short tanking stocks of companies you despise than look for future risers. If you really don't think we've hit bottom yet, that is.
shit, my 401k has lost about $6,500 in the last 2 weeks. About 40% altogether in the last year.The truth is you're not retiring now or within 5 years so in fact on average you should have a net positive effect by the time you retire. Of course it may be bad luck things being cyclical by the time you retire there might be another downturn. I'm not familiar with 401k but there must be options to further diversify your fund in some non share funds.
If I weren't paying off so much on my student loans, I'd be doubling my 10% contribution.
I'm just gonna be a filthy poor forever.
My Dad has lost $80,000 so far, almost all of it in the past month.George W. Bush: keeping Americans productive.
He's now pushed back retirement by three years.
My Dad has lost $80,000 so far, almost all of it in the past month.
He's now pushed back retirement by three years.
My Dad has lost $80,000 so far, almost all of it in the past month.
He's now pushed back retirement by three years.
http://www.vanityfair.com/politics/features/2008/10/hitchens200810?currentPage=1
Hitchens swings for the fences as usual!
I'm gonna try and ride this out in university...
what are we looking at here, three years?
For someone who is a total financial dumbfuck: isn't it a good time to buy shares now that they hit rock-bottom? I mean they have to bounce back to the last year's level at least, right?
And this is why I wouldn't buy yet.
Cramer is a fucking nutjob, 2 months ago he said the stock market would recover from its first drop told people to buy, now hes telling everyone to sell. He doesnt know shit, he's just loud.
Because like most of the market, you were in denial despite Jim Cramer's warnings! CATS AND DOGS LIVING TOGETHER - MASS HYSTERIA!
Bush needs to stop going on television to try and calm the markets. He has no credibility and it upsets people even more. "Oh shit, what will he do nex- sell sell sell! He's talking! He must be fucking up something! SELL!"
There's no doomsday scenario coming up next week if we don't nationalize banks this weekend. There's not a need for it - yet. Don't necessarily remove the option, but the economic outlook, while bleak, is not THAT BAD.
Tell me why I didn't take my money out of my regular 401K accounts a year ago and place them in treasury bonds? :(
i actually use radio shack from time to time :(
Today, with the world caught in an economic tempest that Mr. Greenspan recently described as “the type of wrenching financial crisis that comes along only once in a century,” his faith in derivatives remains unshaken.
The problem is not that the contracts failed, he says. Rather, the people using them got greedy. A lack of integrity spawned the crisis, he argued in a speech a week ago at Georgetown University, intimating that those peddling derivatives were not as reliable as “the pharmacist who fills the prescription ordered by our physician.”
i actually use radio shack from time to time :(
drinky noooooo
a record 107,000 jobs were added to the economy, Statistics Canada said Friday.
Last month's job growth was the biggest increase in 30 years, and defied economists' expectations for an actual decline in employment.
Economists had expected job losses of between 5,000 and 10,000
Quotea record 107,000 jobs were added to the economy, Statistics Canada said Friday.
Last month's job growth was the biggest increase in 30 years, and defied economists' expectations for an actual decline in employment.
Economists had expected job losses of between 5,000 and 10,000
That would be the equivalent of 1 million new jobs being added to the American economy. Economists, by the way, seem to be bad at predicting things.
these crazy fluctations are NOT a good sign -- it reflects grossly mixed messages, complete insecurity, and rampant exploitative opportunism on the floor. :'(
Article headline on Yahoo Finance:
"The Crash of 2008: History Shows It Could Take 10-30 Years for Market to Revive- Tech Ticker"
http://finance.yahoo.com/tech-ticker/article/94433/%27More-Insidious%27-Than-1987-Current-Bear-Market-Ranks-Among-Worst-in-History?tickers=%5EDJI,%5EGSPC,%5EIXIC,SPY,DIA
Goodbye, hopes of retiring before age 93.
My entire family decided not to buy presents this year. Instead it's strictly just a religious holiday.
...and the retailers painfully cry into the darkest of nights, "WHY, GOD, WHYYYYY MUST YOU RUIIIIIN USSS!"
I'm thinking about pumping an ungodly percentage of my paycheck into my 401k these upcoming months. Now is the time to buy buy buy buy for the long term.
Dow'd But Not Out
As a token of our appreciation to our loyal customers, on Thursday, October 16th, between 5-10pm, CHOW Foods is executing a short term Main Street bailout plan far more delicious than the one the goofs in congress passed last week.
To make sure the Dow doesn't get you down, on Thursday night only, we're pricing our menu based on the close of the market on the 16th. The lower the Dow closes on Thursday, the less your entrée costs--no food on the menu will be priced more than the Dow. If it closes at 8300 (gulp!) then you wont pay any more than $8.30 for any item on our food menus.
If Chowin’ on the DOW isn’t enough to whet your appetite, keep in mind that our house red & white wine, draft beers and well drinks will be priced at the NASDAQ close for the day. If it dips to 1250, then our depression era pricing on these libations will be just a buck twenty five!
Stop by for dinner and drinks between 5 p.m. and 10 p.m. at any of our joints as we match the economy cent for cent. Menu prices will be set according to the markets close, so for one night, forget about the size of your 401k and CHOW down on our nickel.
Get your wallet off your mind and join us on October 16th at your local CHOW restaurant and enjoy a taste of the good life for a little bit less. For a full list of restaurants or to browse our menus see www.chowfoods.com
i actually use radio shack from time to time :(