Stock Market Crash?

But look at the good news in all this... Your boat is no longer the fastest depreciating asset you probably own. It's your 401(k). Should have bought a bigger boat...
 
Dave S said:
My boat will not pay the bills unfortunately. :smt021
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Yeah it will... Just haul it up to any fed window as collateral and ask for a $50B bridge loan... what the hell. Tell them you have a new "Sea Ray depreciation hedge swap" instrument you are going to be selling....
 
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All I can say is it's a good day to buy...call your broker, tell em to buy, buy, buy
 
Well. . .two hours in and in all honesty. . this is not the worst day I have seen on wall street.

I am personally glad that someone in the gooberment has figured out that it is not the role of government to bail out inept buisnessmen.

I detest corperate welfare just like I detest public welfare.
 
"I am personally glad that someone in the gooberment has figured out that it is not the role of government to bail out inept buisnessmen."

Isn't that what the democrats call welfare? Have another kid, we will pay you more...isn't that how it all works? ;-)
 
Yachtsea said:
Good news. Oil is down. Right now its at $97.13, down 4% from Fridays close.
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"Good news. Oil is down. Right now its at $97.13, down 4% from Fridays close."

I love it, the cost per barrel continues to drop while the price at the pump continues to rise. What ever happened to letting supply/demand economics take care of things?
 
mrsrobinson said:
All I can say is it's a good day to buy...call your broker, tell em to buy, buy, buy
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Maybe, but I think they'll be better days to "buy" come 2009. I'm selling on any upticks the rest of this year...if there are any..
 
Coke and Proctor & Gamble are up. Unfortunately everything else I own it down.
 
mrsrobinson said:
"Good news. Oil is down. Right now its at $97.13, down 4% from Fridays close."

I love it, the cost per barrel continues to drop while the price at the pump continues to rise. What ever happened to letting supply/demand economics take care of things?
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Refineries are shut down along the gulf, so refined petroleum products are in short supply. Once the refineries come back on-line, then the prices of refined products will take a precipitous drop. You have to look at the entire supply chain.

Best regards,
Frank
 
fc3 said:
Refineries are shut down along the gulf, so refined petroleum products are in short supply. Once the refineries come back on-line, then the prices of refined products will take a precipitous drop. You have to look at the entire supply chain.

Best regards,
Frank
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Agreed, saw that on the news last night.

So could one argue supply was not where it needed to be pre-storm? Suppliers knew the storm was coming, 2 days after the storm gas stations are running out of fuel already?

If I know an ice storm is coming, I go buy sand,salt, extra food. I don't wait for the storm to hit and then run to the hardware store.
 
One good point about the stock market going down, I get more people thinking about buying a get-away/vacation place in the mountains. (Grin) If all else fails at least they can come live off the land in the mountains. Try doing that on worthless stocks. You don't even get the stock certificate paper any more. Before you could at least use it to wall paper your bathroom when the company went belly up. :)
 
mrsrobinson said:
"I am personally glad that someone in the gooberment has figured out that it is not the role of government to bail out inept buisnessmen."

Isn't that what the democrats call welfare? Have another kid, we will pay you more...isn't that how it all works? ;-)
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I think the next line in my post was clear enough. I am not a fan of public welfare either.

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OK. . .you want to have useless speculation on gas pricing?

Chew on this: Houston refineries do not supply the NorthEast with Gasoline. Refining is a local endeavor. In fact, if Gulf Coast refineries shut down, that implies they are not consuming CRUDE. Crude supplies should actually spike up elsewhere as Gulf Coast refineries stop buying. That should be a negative pressure on gas prices everywhere not directly supplied gasoline by gulf coast refineries.

OK. . .I am in the Northeast. One local station boosted gas 6 cents. Another boosted prices 12 cents. Large number of other are unchanged.

In the area where I boat. . .gas prices did not appear to spike over the weekend. Dom, who lives 10 miles south of where I boat reported a 51 cent gas price spike.

- - - - - -

Am I considering buying stock today? You bet. But the market hasn't fallen enough in the things I want to buy. Plenty of room to go down still.
 
"I think the next line in my post was clear enough. I am not a fan of public welfare either."

My dad refuses to put a bird house or bird feeder in his yard as he thinks it will encourage welfare amongst the birds. A bit extreme IMHO, but understood.
 
mrsrobinson said:
I love it, the cost per barrel continues to drop while the price at the pump continues to rise. What ever happened to letting supply/demand economics take care of things?
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I'd like to know why oil is down around 40% from it's high, yet my gas at the local station is down from a high of $3.99 to currently $3.59 (it was $3.51 yesterday). According to my calculator, 40% off of $3.99 is $2.39.

When oil goes up, gas goes up the same day. When oil comes down, gas never follows....

Tom
 
diesel is falling faster than gas. In the last 3 months diesel in my marina went from $5.59 to $4.79. I'm sure it has to do with ethanol etc...
 
Diesel at the marina here is about $3.60... that's the pink off-road home heating oil no tax stuff.
 
The Lehman bankruptcy filing is bigger than Enron and WorldCom combined.... and the market is only down 350 points... not bad.
 
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