View Full Version : Stocks plunge.....
Schuarta
02-10-2009, 06:56 PM
Stocks plunge as government unveils bailout plan
NEW YORK - Investors are frustrated with the government's latest bank bailout plan - and showed it by unloading stocks. The major stock indexes...
They just don't have a clue what their policies are doing to this country, or do they?
Gourmondo
02-10-2009, 08:58 PM
Maybe I'm confused, but from what I've seen so far, one of the key elements of the plan is being able to cheat the IRS to the tune of, say, 50K, then say "I goofed". I haven't received my official notification from the Administration, but I just figured I'd try it out and see what happens. I can always say I was going to get around to it eventually.
2 TRILLION DOLLARS!! What are they smoking up there? A 2 TRILLION DOLLAR bailout for the banks...
INSANE!
Schuarta
02-18-2009, 01:14 PM
Correct me if I'm wrong, but yesterday's close was the record low, so far!
With what I have lost from my retirement nest egg, I could have hired Pelosi's private jet (her cost for each one-way $65,000.00) for a trip back to New Orleans, and eaten 2 meals per day at the "best" for a month.
edible complex
02-18-2009, 01:47 PM
Correct me if I'm wrong, but yesterday's close was the record low, so far!
With what I have lost from my retirement nest egg, I could have hired Pelosi's private jet (her cost for each one-way $65,000.00) for a trip back to New Orleans, and eaten 2 meals per day at the "best" for a month.
what about BaRoke and all that money he burned flying to sign the bill in Denver?
I'll be Ba-Roke with this administration.
LauraMc
02-18-2009, 03:28 PM
I heard this on NPR yesterday. Their lead-in was "if you thought you missed the bottom of the market, think again". But then they were talking about 401k losses and said that most people have lost only an average 11-15% at the worst. Mine has gone down 53% here and 48% from my last job.
I heard this on NPR yesterday. Their lead-in was "if you thought you missed the bottom of the market, think again". But then they were talking about 401k losses and said that most people have lost only an average 11-15% at the worst. Mine has gone down 53% here and 48% from my last job.
About 40% for me.
Schuarta
02-18-2009, 06:46 PM
I heard this on NPR yesterday. Their lead-in was "if you thought you missed the bottom of the market, think again". But then they were talking about 401k losses and said that most people have lost only an average 11-15% at the worst. Mine has gone down 53% here and 48% from my last job.
That 11-15% is pure B.S.!!!
The market slide began in October 2007, and slowly declined for a year before the catastrophic crash brought on by the final days of the political campaign, the election, and the "acts" of the new administration.
My wife's loss is a modest 33% (more conservative portfolio).
My loss stands at 39% (I follow the market conservatively every day).
My stock portfolio has reached an all time low this week. As for my 401K, In the last quarter of 08 I lost 200$ more then I contributed. Wall Street has no confidence in President Obama.
Things are going to get worse before they get better, the people who have taken over the country are not only socialist but insane. Rick Santelli losing it on CNBC this morning.
http://www.cnbc.com/id/15840232?video=1039849853
cstoehr
02-19-2009, 04:55 PM
I have not opened mine in months. I drink enough as it is...........:o
As for my 401K, In the last quarter of 08 I lost 200$ more then I contributed.
That's nothing....
Annie Laurie
02-21-2009, 08:49 AM
This is a good read....background info....on Santelli and the White House
response. I hope Santelli accepts the invite.
http://www.americanthinker.com/blog/2009/02/post_162.html
Annie Laurie
Schuarta
03-02-2009, 07:51 PM
6,763 and FALLING!
I have lost enough to fund more than 50 two-week trips to New Orleans for my wife and I!!! Eating at the best!!!
:covri: :headpop:
edible complex
03-03-2009, 10:50 AM
how to make a million in the stock market?
invest 2 million.:covri:
Schuarta
03-05-2009, 08:21 PM
6,594 and FALLING!
What else is there to say. We're screwed!
Jerry
03-05-2009, 11:24 PM
Relax you guys....6250 is the bottom of the octave....hopefully the next octave is a bit higher.
How does the 8.1% unemployment rate look on this glorious Friday? The new jobless claims that were revised upwards is the really bad number, not the 8.1%.
Thats ok, the gov. folks that try to predict this kind of stuff have told me that unemployment should level off at around this 8% later in the year. I feel better.
Schuarta
03-06-2009, 10:43 AM
One negative press release after another. Nothing constructive out of Washington since the Jehad began by the anointed one. I would bet today's market (even though it's up a bit as I speak) could possibly reach the magic 6250 being touted about.:mad:
One negative press release after another. Nothing constructive out of Washington since the Jihad began by the anointed one. I would bet today's market (even though it's up a bit as I speak) could possibly reach the magic 6250 being touted about.:mad:
Yeah, the Jihad is not working out to well for him. He also had two treasury candidates withdraw there names from consideration yesterday. Not good, the Treasury department is way understaffed.
and this morning I read this:
Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the "Obama bear market." The Dow has also dropped 31 percent since Election Day.
Bloomberg reported that Obama is at risk of breaking a historical trend -- in which the Dow soars an average of close to 10 percent in the first year after a Democrat wins the presidency.
http://www.foxnews.com/politics/first100days/2009/03/06/study-dow-decline-marks-fastest-new-president-nearly-century/
Schuarta
03-06-2009, 11:20 AM
The little Dow "up" became a "down" at 10:55 am EST >>> -19.03
Relax you guys....6250 is the bottom of the octave....hopefully the next octave is a bit higher.
I hope you are right Jerry. I looked at my online portfolio last night and it resembled the McGruber skit from SNL.
More about the Treasury Dept. staffing issues:
As I reported last night, Annette Nazareth was forced to withdraw from consideration for the deputy treasury slot because senators made it clear she would face tough questioning over her time at the Securities and Exchange Commission -- tenure that overlapped with the agency's failure to catch Bernie Madoff.
The candidate for Undersecretary for International Affairs, Caroline Atkinson, was told she had to withdraw after a "tax problem" was revealed early in the vetting process, according to officials.
http://blogs.abcnews.com/george/2009/03/staff-trouble-a.html
Another one with tax issues - I find it odd that the folks who want everyone to pay more taxes have a problem paying their own. What is wrong with these people!
Looks like we got a little break today - I seriously hope this trend continues - hope seems to be a recurring theme.
I would not get too excited, I have been through this before. Many big investors who fled to cash are going to be taking profit on days like this and shorting moves up two days in a row. Until things actually get better and more clear as to where things are going will the upward movement be strong enough to run out the profit takers and the short sellers. Until then, be happy one day and cry the next and hope for two good days in a row.
More staffing issues at Treasury:
Democratic sources say that H. Rodgin Cohen, a partner in the New York law firm Sullivan & Cromwell LLP, and the leading candidate for Deputy Treasury Secretary, has withdrawn from consideration.
Foreign Policy reported yesterday that Britain’s most senior civil servant, cabinet secretary Sir Gus O’Donnell, claimed it was hard to find anyone to speak to at the US Treasury Department.
http://blogs.abcnews.com/george/2009/03/another-top-tre.html
Hello, you have reached the US Department of the Treasury. No is available to take your call right now, but please leave a message. I assure you that your message is very important to us, and your call will be answered in the order it was received. If you are a large bank or American auto company, and you need a bailout, press 1. For all other request, please wait for the tone and leave a message.
bam bam
03-15-2009, 12:21 AM
The only thing I am investing in is illegal porn from Thailand.
Schuarta
03-15-2009, 06:28 AM
We have busted the $7K ceiling.
Dow at $7,223 and rising!
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