Stock Market Crash?

[Ryan]

So that's it...bypass the 40 footer, go right to the 50 footers and stop saving so much for retirement.....sweet, now I have a justifiable excuse.

That's what I was trying to say earlier with my comment of "Should have bought a bigger boat" and someone left me a negative rep with a comment of "you're an idiot" or something... but you are right.

Exactly... boy am I glad I made the investment in the boat I did! (ok let the red balls fly!) Gary - Don't worry if you can't fill up just think, the injury count might go down for you.

 

[SearayPaul]

Gary tell us how you really feel. You are right a bunch of those clowns need to go to jail instead of getting a severnce package. When the rest of us mess up we loose our jobs period.

As for the valuation of the market. I should have bought the 420 with the way my investments have performed this year instead of being prudent. Once again it does not pay to do the right thing. The good news is that I can't retire until I am 66 or so. The value of todays market does not mean much at this time. In any given ten year period I believe the market has never lost money. So I am in.

As for the price of oil. The goverment could not attribute any of the price to speculators in there study that I read the other day. Right. The weather men and the this study group need to get together and prognosticate the future.

Here's to cheap fuel.

 

[Bottom Line]

I do not understand all of this stuff works....but reading some of the priors posts...Do you think a lot of these problems were caused by the hedge fund managers driving up the cost of oil, and now they have to pay for it?

Did anyone see the show las week on CNBC about the hedge fund managers, and the amount of money they have made the last few years? During the show, they said the highest paid Physicians were Neuro Surgeons....and in 2007, the highest paid 1% made about $2.7 million. Also in 2007 the top 1% of hedge fund managers made about $850 million. The showed some of the houses these guys were buying.....$40 to 50 million apartments/condos overlooking Central Park.

 

[Four Suns]

I do not understand all of this stuff works....but reading some of the priors posts...Do you think a lot of these problems were caused by the hedge fund managers driving up the cost of oil, and now they have to pay for it?

Did anyone see the show las week on CNBC about the hedge fund managers, and the amount of money they have made the last few years? During the show, they said the highest paid Physicians were Neuro Surgeons....and in 2007, the highest paid 1% made about $2.7 million. Also in 2007 the top 1% of hedge fund managers made about $850 million. The showed some of the houses these guys were buying.....$40 to 50 million apartments/condos overlooking Central Park.

Ding ding ding!!!! You win!!!

Throw their asses in jail.

See.... Obama wants to tax them more and regulate them more... I just want to throw them in jail.

 

[rondds]

i dont know how old you guys are, but when i was a kid they told us we'd have the metric system fully installed by 1980. they also said we'd RUN OUT OF OIL by 20xx. we havent done either to this point - as a matter of fact, with all the global warming bull crap and the steadily climbing price of oil, there has not been ONE murmur about an oil shortage. as a matter of fact, we are told there is plenty of oil in the ground - we just need to suck it out. then the talking heads-du-jour over at CNBC starts babbling about oil hitting $200/barrell and many people bought into that. problem is, supply was always there. sure the emerging markets were driving up the demand, but still there were no lines at the gas station? where was the rationing? where was the embargo? and the doomsayers were still preaching that the meteoric rise in the price of a barrel was only about 10% speculation. "world demand," SUVs and Asia was the other 90%. now you see that was a buncha horsebleep. it was obvious to anyone who was looking at things logically and not emotionally that there was no reason for oil to sit at $150/barrel. just like there was no reason for AOL stock to be selling for $300/share back in the mid 90s when they had NO EARNINGS.

 

[Four Suns]

Ron Ron Ron... You need to get your facts straight... The talking heads on CNBC had oil going to $500 a barrel... not $200... ;-)

 

[Newbie]

All I know is that if AIG doesn't get their crap straightened out soon, like tommorrow, we'll really see the market take a very large hit. Anybody else worry that we may be coming out of recession, just to go into depression? I have a feeling this crap won't blow over for at least two more years.

It is kind of nice to see oil back under 100bbl, but I would almost prefer it to still be in the 120's. When it was up, it was THE news of the day everyday, that everyone heard about. The falling prices just don't seem to make the headlines. High gas prices directly related to high oil cost around election time would make many second guess their Osama vote at the polls. Almost seems too convenient for the dems that its falling. SB

 

[Turtlesboat]

I still haven't bought my HUGE diesel boat, truck, and house in Florida yet. Gas is going to be $300/barrel by December, Stocks will be worthless, the economy will move into a depression, The Dems will tax us to death, food will be double, the ice caps will melt and flood the world. Come on, give a guy a break.

 

[Woody]

I still haven't bought my HUGE diesel boat, truck, and house in Florida yet. Gas is going to be $300/barrel by December, Stocks will be worthless, the economy will move into a depression, The Dems will tax us to death, food will be double, the ice caps will melt and flood the world. Come on, give a guy a break.

At least there will be more water frontage available.

 

[Dave S]

Even though "professionals" tell you not to liquidate in a down market I am seriously considering it. I think the worst is yet to come and I may just try to cut my losses. The difference between me and maybe some of you other guys is I am already living off my portfolio because I am retired. I don't see things getting better anytime soon which is seriously driving me to consider that choice. Even if there are no other big shoe-drops in the next few months, I know the market will have a serious negative reaction to terrible retail sales during the Holiday period and that is almost a certain guarantee this year.

I am afraid tomorrow may be another disaster on Wall Street but I guess we will just have to wait and see.

 

[comsnark]

As I read this thread. . .I think "Crap. Gary is right".

People should go to jail. It starts with going bankrupt. First the corperation goes. . then stockholders will chase after those responsible with lawyers.

As for selling out now. . .Dave! Don't Panic! It may take a while, but the markets will recover. Remember -> wasn't the dow down around 8000 back in 2002?

I do not have a clue what I am doing in the investing world. . .which is why I diversify. I don't have "too much" in real estate - - I don't have too much in international. Of course, EVERYTHING has been taking a bit of a bath lately. Over the last year, I have been slowly moving more towards "cash" - -> Not reinvesting funds that would normally get reinvested. 12 monthes ago, I was 3% cash. I am probably 15% cash right now. well. . .maybe 20% after the end of the day tomorrow.

 

[DCarl320]

You guys keep talking about Obama and "the Dems" like they won already, last I checked, the presidency is still fair game.

I dont believe anything you guys are saying, I dont believe CNN, CNBC or anybody else. Why?

Because I believe McCain. HE SAID the economy is fundamentally strong. Dont worry about the 6.1 percent unemployment, HP laying off 25000, DHL pulling out of the US. Never mind WAMU, Lehman, Merrill, BofA and the rest of them dumping thier people out on the streets. We need more stimulus checks!!

Foreign investors will save us all by buying the rest of the commercial property that they dont already own. If we continue to get our labor costs down, we can reverse the tide on India and get some tech jobs back, already 9 out of 10 consulting firms that are calling me are from India. They are making full circle now. :smt021

And Im sure Palin will let us stick a spigot in Alaska and pump all the juice we want! Who is ready for .50 a gallon Baby!! :smt038


Seriously though, whoever gets in office will probably go down in flames trying to fix this mess we are in. I have never seen so much undercover bigotry, hatred, and overt sexism and greed, on such a national scale in my life. The lies and accusations on both parts are unbelievable. And for what?

Just when you think we all could come together for a common cause and reason with one another to make ourselves better, the same old petty arguments and prejudices arise and I see we are really no farther along than we were in the past. Only difference is now, I have a boat that I may or may not have a job to afford, with only the cash in my pocket because my bank may fold WITH my 401K.

I seriously pray for my childrens future, and I'm almost sorry I brought them into this.

 

[DCarl320]

Sorry for the rant...

 

[Four Suns]

I seriously pray for my childrens future, and I'm almost sorry I brought them into this.

Hang out with my kids and you'll think they deserved it...

 

[fc3]

i dont know how old you guys are, but when i was a kid they told us we'd have the metric system fully installed by 1980. they also said we'd RUN OUT OF OIL by 20xx. we havent done either to this point - as a matter of fact, with all the global warming bull crap and the steadily climbing price of oil, there has not been ONE murmur about an oil shortage. as a matter of fact, we are told there is plenty of oil in the ground - we just need to suck it out. then the talking heads-du-jour over at CNBC starts babbling about oil hitting $200/barrell and many people bought into that. problem is, supply was always there. sure the emerging markets were driving up the demand, but still there were no lines at the gas station? where was the rationing? where was the embargo? and the doomsayers were still preaching that the meteoric rise in the price of a barrel was only about 10% speculation. "world demand," SUVs and Asia was the other 90%. now you see that was a buncha horsebleep. it was obvious to anyone who was looking at things logically and not emotionally that there was no reason for oil to sit at $150/barrel. just like there was no reason for AOL stock to be selling for $300/share back in the mid 90s when they had NO EARNINGS.

I'm going to borrow a post of mine from May. It fit here again. The left loves to haul out stupid doomsday scenarios to scare the ignorant. I could post more examples, but this one was egregious.

Anyone remember this particularly brilliant piece of bullsh... uhhh boy-cow fertilizer?

In the 1970's the world will undergo famines--hundreds of millions of people are going to starve to death in spite of any crash programs embarked upon now. At this late date nothing can prevent a substantial increase in the world death rate, although many lives could be saved through dramatic programs to "stretch" the carrying capacity of the earth by increasing food production. But these programs will only provide a stay of execution unless they are accompanied by determined and successful efforts at population control. Population control is the conscious regulation of the numbers of human beings to meet the needs, not just of individual families, but of society as a whole.

Nothing could be more misleading to our children than our present affluent society. They will inherit a totally different world, a world in which the standards, politics, and economics of the 1960's are dead. As the most powerful nation in the world today, and its largest consumer, the United States cannot stand isolated. We are today involved in the events leading to famine; tomorrow we may be destroyed by its consequences.

No? Best seller in the 1960s... Very fashionable... The global warming issue of that era.

All I can say is that I'm glad that we inherited a vastly different world, where the standards of the 1960s are dead. Dead Dead DEAD! Now for the rest of the politics -- great society crap, and economics -- Keynesian, would also just go away as more failed ideas.

The left has been enamored of this idea that "we're running out of this," or "we're running out of that!" Whatever. It's just their means of controlling stupid people for their own enrichment. Same with the "we're running out of oil," argument. Only with oil, the left is helping things along by working hard to prohibit drilling. Notice that the increasing population of polar bears has gotten them endangered species recognition because some computer models show that the polar bear population might decrease in the future? The oil companies are already bracing for the sierra clubs next lawsuit to prohibit drilling in Alaska because it might hurt those cute and cuddly polar bears.

Best regards,
Frank

 

[Pseudomind]

...I have never seen so much undercover bigotry, hatred, and overt sexism and greed, on such a national scale in my life. The lies and accusations on both parts are unbelievable. And for what? ...

And even the mighty Roman empire lasted but how long? I myself do not believe we have a "Single" politician who gives a _hit about the nation, but just greed.

Oh I forgot , "It is all about ME!" :huh:

 

[mrsrobinson]

So I see on the news this morning where lottery sales are way up in this down economy. Are you kidding me? Folks can't afford to put gas in their tank or pay their mortgage, but they can sure afford to buy extra lottery tickets? How desperate, or should I say how lazy have folks become?

 

[Turtlesboat]

I live in the Land of Lazy. The Land of the handout. The land of "I gotta gets what is mine", except it's not theirs, it's mine. The only place on earth where you can be on welfare, have subsidized housing, free healthcare, food stamps, free transportation, a gold watch, the latest nike, an iphone with unlimited calling plan, a diamond pinky ring, guchi sunglasses, and $1k cash in your pocket. All of this without working a day other than standing in line once a month.

Yeah things are tough in this country.

 

[mrsrobinson]

I live in the Land of Lazy. The Land of the handout. The land of "I gotta gets what is mine", except it's not theirs, it's mine. The only place on earth where you can be on welfare, have subsidized housing, free healthcare, food stamps, free transportation, a gold watch, the latest nike, an iphone with unlimited calling plan, a diamond pinky ring, guchi sunglasses, and $1k cash in your pocket. All of this without working a day other than standing in line once a month.

Yeah things are tough in this country.

You forgot having 20s (20"+ rims) on your car and a stereo so loud it rattles my car next to yours.

Note to self, never, and I mean never, go to WalHell, I mean WalMart, on the first of the month. There is one close to our boat so we go there often for supplies. First of the month is welfare check/coupon time...stay away.

 

[GJarrett]

i dont know how old you guys are, but when i was a kid they told us we'd have the metric system fully installed by 1980. they also said we'd RUN OUT OF OIL by 20xx. we havent done either to this point - as a matter of fact, with all the global warming bull crap......

You could have added another point on that same load of BS. I was in high school in the 1970's and yes back then our science classes were telling us that humans are affecting the global climate and we were in a crisis! ~ if we didn't do something quick, we would be ushering in a new ice age. Does anyone else remember that?

I guess we did a real good job preventing that ice age; now it's global warming