[Hiram]

I too noticed that the Dow did drop quite a bit today.

I don't think we're going to get the full fall out of the credit crisis for a bit yet.  I think we're going to get some more volatility in the marketplace.

Ultimately, I feel the Dow will be at 15000 in 2010, or maybe 11.

But all this bad credit is going to have to be boiled out of the system.

Fractional reserve banking - you've got to laugh...

[AZWolf]

Yes, I think the dollar won't top recent highs vs major currencies, but we'll still be weak through the start of 2009.

[Q_BE]

The Dow goes up and down hundreds of points nearly everyday now. Who the hell knows where it's going to go? At least we should hope for the best.

Q-"Enough of the Negative Nancies"-BE

[AZWolf]

I vote for strength in the Euro since I earn it, and hold almost no stocks.  And if many rich types suffer, well, so much the better.  

[Q_BE]

Quote:
AZWolf said:
I vote for strength in the Euro since I earn it, and hold almost no stocks.  And if many rich types suffer, well, so much the better.  

Wait, if you gain money on the Euro, then, since you'll become rich, won't you be suffering as well?

Classic liberal garbage: Even when things go well, the rich people still suck.

Q-"Let the rich be rich, and the poor shall become rich"-BE

[pedonbio]

Quote:
AZWolf said:
I vote for strength in the Euro since I earn it, and hold almost no stocks.  And if many rich types suffer, well, so much the better.  

The Euro against what? I certainly wouldn't bet on it against the US dollar at this point. The Canadian dollar, maybe.

[pedonbio]

Quote:
Q_BE said:

Classic liberal garbage: Even when things go well, the rich people still suck.

 

Just because you think someone is a liberal doesn't make it so; just because you claim an idea is "liberal" doesn't make it so, any more than the fact I think someone is conservative makes them stupid, although in your case I may have to reconsider.

[mastert]

Agreed...I hate this branding mentality America has developed. I consider myself a liberal, but I couldn't care less about how many guns you have (although machine guns are only made to kill many people, not for hunting or property protection). I would never suggest an abortion to my SO, but couldn't care less if someone else wanted to do it. I'm a liberal that believes in a balanced budget and above average taxes for a rainy day (Katrina, 9/11, things of that nature). I'm for scientific progress (which btw is the ONLY reason we're the most powerful country in the world). I'm a whatever floats your boat but doesn't rock mine liberal.

There are "Reagan" republicans, the type that are like your father and now there are the neocons, the biblethumpers trying to move this country back to a religious state like....Iran and Iraq and the Taliban.

Rich people suck because money begets money. If I invested 10,000 in the stock market and made 30% gain, I made $3,000. If I was rich and had 10,000,000 and made the same profit, I made 3,000,000. Quite a huge difference, huh? The rich make up 5% of the population but hold 95% of the money

[pedonbio]

Quote:
mastert said:

Rich people suck because money begets money. If I invested 10,000 in the stock market and made 30% gain, I made $3,000. If I was rich and had 10,000,000 and made the same profit, I made 3,000,000. Quite a huge difference, huh? The rich make up 5% of the population but hold 95% of the money

Mastert, I wish I could remember who said it: "To take $100 and turn it into $110 requires work. To take $100 million and turn it into $110 million is inevitable."

[SwitcherX]

Quote:
pedonbio said:
Mastert, I wish I could remember who said it: "To take $100 and turn it into $110 requires work. To take $100 million and turn it into $110 million is inevitable."

Edgar Bronfman

[AZWolf]

Quote:
SwitcherX said:

Quote:
pedonbio said:
Mastert, I wish I could remember who said it: "To take $100 and turn it into $110 requires work. To take $100 million and turn it into $110 million is inevitable."

Edgar Bronfman

Since this hasn't been the baseline of the Republicans since 1980?  And especially 2000.

[pedonbio]

Quote:
AZWolf said:

Quote:
SwitcherX said:

Quote:
pedonbio said:
Mastert, I wish I could remember who said it: "To take $100 and turn it into $110 requires work. To take $100 million and turn it into $110 million is inevitable."

Edgar Bronfman

Since this hasn't been the baseline of the Republicans since 1980?  And especially 2000.

Yeah. I think it was their baseline a long time before that, but I won't argue the point.

[Hiram]

I think the dow will have a very bad day today.

Down 5% at least.

[MasterDragonfly]

Quote:
Hiram said:
I think the dow will have a very bad day today.

Down 5% at least.

Because of Lehman Bros?  Or is that simply an incidental effect?

Other than Ike (we're fine btw, thanks for asking ), I haven't really followed the news all that closely this weekend.  I thought I heard some reference to Lehman Bros but only this morning heard the news.  And even then, details are sorely lacking.  Guess I'll have to hit Google.

[Hiram]

Yes I think so. (Lehman)

It’s the symbiotic relationship with other banks and lending institutions that will be the catalyst to falls in Wall St after Lehman Bros has gone to the wall this weekend.  It’s the unknown factor of how far the bad debt will go.

I’ve estimated the falls in the Dow from other indices.  They’re all down -5%.

Glad you are ok there in Texas – I was in Houston almost exactly one year ago, I’d wondered how things were in the lone star state after Ike.