Se7enMeister
*Likes Basswood*
this sucks, i cant believe this is happening, the dow closed below 9,000
Stock Market at 5 Year Low
- Thread starter Se7enMeister
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this sucks, i cant believe this is happening, the dow closed below 9,000This site may earn a commission from merchant links like Ebay, Amazon, and others.
ILdÐÆMcº³
Well-Known Member
UNDER NINE THOUSAND!!!
To be honest I find it morbidly fun to watch, not that I want it to all go to shit, but I get some sort of perverse pleasure from it. Kinda like a Ha told you so to the Bush Cabinet and followers although it affects me too so it's bittersweet.
To be honest I find it morbidly fun to watch, not that I want it to all go to shit, but I get some sort of perverse pleasure from it. Kinda like a Ha told you so to the Bush Cabinet and followers although it affects me too so it's bittersweet.
It really sucks but Ive been waiting for this to happen for the past two years.
Everytime Bush, Paulson or Bernanke said "US economy is sound" my thought was "fucking liars".
I was ready for the shit to hit the fan and Im not an economist nor even living in the US. So you can be damn sure if it was obvious to me that many people on Wall St and politicians knew what was coming.
/sarcasm Looks like that $700 billion bailout is really helping
There should never have been any bailout of any shitty firm.
Ive been trading put options for the last one year just getting ready for this sell-off/crash. I think retailers and manufacturers are gonna get screwed big time next.
Good luck
Everytime Bush, Paulson or Bernanke said "US economy is sound" my thought was "fucking liars".
I was ready for the shit to hit the fan and Im not an economist nor even living in the US. So you can be damn sure if it was obvious to me that many people on Wall St and politicians knew what was coming.
/sarcasm Looks like that $700 billion bailout is really helping
There should never have been any bailout of any shitty firm. Ive been trading put options for the last one year just getting ready for this sell-off/crash. I think retailers and manufacturers are gonna get screwed big time next.
Good luck
Naren
OldschoolGhettostyle
You can't believe this is happening? Why not? It makes perfect sense, considering all the stuff happening recently. I knew something like this was gonna happen sooner or later and it ended up being "later" instead of "sooner."
Variant
Banned
Good thing I quit my job just before all this shit happened! 
*Variant is still looking for work.
*Variant is still looking for work.
hairychris
Hairy Old Bloke
Hmm, the rest of us may not get that luxury...!
7 Dying Trees
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Actually, I am also one of those people watching with a morbid fascination. It's been a long long time coming, you can't have massive growth without the bubble bursting.
To be honest:
- People have been making the kind of money that beggars belief, stuff like that doesn't last
- Houses became overpriced about 5-6 years ago, fueled by the estate agents inflating prices to inflate their own comission, and to make the seller feel happier, even though it is a totally false economy, as all houses rise, and selling to buy another place just means you sold something for more, to buy something someone else has just sold for more, thus making it more expensive anyway. It's been long overdue a massive correction
and, oooh... the bailouts aren't working. Gee, really happy my money got spent on that...
To be honest:
- People have been making the kind of money that beggars belief, stuff like that doesn't last
- Houses became overpriced about 5-6 years ago, fueled by the estate agents inflating prices to inflate their own comission, and to make the seller feel happier, even though it is a totally false economy, as all houses rise, and selling to buy another place just means you sold something for more, to buy something someone else has just sold for more, thus making it more expensive anyway. It's been long overdue a massive correction
and, oooh... the bailouts aren't working. Gee, really happy my money got spent on that...
playstopause
Contributor
Dear capitalism, it's reality-check time. Welcome aboard!
sakeido
Contributor
Yeah that bailout package was super effective. $700b more in debt and inevitably more taxes - to do absolutely zero good. What a horrible idea. They are setting themselves up for another, absolutely catastrophic, failure.
Demiurge
Well-Known Member
Dow is sitting aroun 8300 as I type this. Normally, I like a small downturn on Fridays when money goes in to my 401(k), but not this much.
At the very least I figure that if the markets recover (which I'm sure they will), investments made right now may be profitable in the long run.
Of course, the other possibility, that the market will never recover- collapsing the economy and the government, would make me believe that my retirement, 401(k), cash, etc. is the least of my worries in the ensuing chaos.
So, either way, I'm trying to be zen about it. [\wry attempt at willfull ignorance]
At the very least I figure that if the markets recover (which I'm sure they will), investments made right now may be profitable in the long run.
Of course, the other possibility, that the market will never recover- collapsing the economy and the government, would make me believe that my retirement, 401(k), cash, etc. is the least of my worries in the ensuing chaos.
So, either way, I'm trying to be zen about it. [\wry attempt at willfull ignorance]
Vince
Contributor
I completely agree. I'm just hoping this is the start of bringing us back to reality. Let's focus on building infrastructure, get back into manufacturing goods, and really try to re-build the dollar. The inflated market had to come crashing down eventually.
Drew
Forum MVP
It's actually worse than that - the S&P500's 10-year return is actually negative right now; if you took a grand and put it in thr S&P500, or put it under your mattress, the mattress would be worth more.
I'm just glad I'm not retiring anytime soon. Never thought I'd say THAT... :/
I'm just glad I'm not retiring anytime soon. Never thought I'd say THAT... :/ sakeido
Contributor
I'm pretty pissed off that because the US economy is self-destructing and their dollar is plummeting, ours is somehow dropping faster. My Blackmachine is $600 more now than it was just ten days ago, and a lot of analysts are expecting our dollar to get even worse. Its like the early 2000s all over again 
