Jump to content

stock market thread


Recommended Posts

Shorrrrrrting. Golllldman. Ittttt's like banking coin. ^^ Poor attempt at a song/poem.We're at that level now where I have to tell my parents, and my parents parents, listen. If we crash from here you have to take your savings and start to invest that shit. Like, for serious.My dad was telling me earlier that my grandma has 95% of her money in CD/money markets, due to my uber frugal late grandfather. GOOD for freaking her. Now lets start putting the money to work and pay for the great grandchildren's college.
We are still a LONG way from the bottom.
Link to post
Share on other sites
  • Replies 2.8k
  • Created
  • Last Reply

Top Posters In This Topic

* Elimination of 500 jobs (200 thru retirements, open slots left unfilled); * Elimination of the scheduled COLA;(cost of living adjustment) * Market adjustment eliminated for Police Department; * Merit suspension for one year beginning January 1, 2009; and * Base pay reductions (2% for all employees) effective January 5, 2009
Sounds like Mesa.Wait until the city goes bankrupt and your pension gets cut dramatically. NO WAY can we afford all the pensions we've promised to police, fire fighters, teachers and other government workers. You will not be collecting all the pension you've been promised. Can't happen.
Link to post
Share on other sites

Oct 17, just over a month ago, Warren Buffet released an article saying we should buy American stocks becuase he was. Buy when everything is bleakest.My counter is that we are a LONG way from everything looking bleakest. I mentioned that things won't be bleakest until... I listed a whole bunch of stuff. Big 3 in bankruptcy, unemployemnt above 15%, commercial property crashing, people haven given up up of a residential real estate rebounding... AND, I said that by then stock would be off another 50%, maybe 75%... DOW was rigth bout 9,000, so I got this response....

PM your address so I can send a dollar when the Dow drops below 4,500. If you are right you will have earned it.
Off 1500 from there, with only another 3000 to go.Or, if we look at S&P, which is now off more than 50% from 13 month ago peak, and broke below the 2003 post tech-wreck lows... Oct 17 we opened at 942. We're off 190. 20% that I didn't lose by ignoring Buffet's advice. 281 to go to be off 50% from Oct 17. 5 more days like today (54 pts each) and we'll be within spittin' distance.Remember, we're only half-way through with the residential real estate correction, and the commercial market is just starting to pop. Since Paulson said they are not going to use the rest of the TRAP to buy bad assets, debt backed by commercial real estate has crashed HARD. No more debt roll-over for commercial real estate. Crash!
Link to post
Share on other sites
Holy shit 542,000 people applying for unemployment in one week! I am fucking terrified.
The turth is, if we had measure of underemployed, it would be crazy high. How many people are making less now than they were 2 years ago? My guess is that it is probably above 30%, maybe 50%. Small businesses are not making the profits they were. Comissioned sales people are not making comissions. Realtors, home appraisers, mortgage brokers, debt traders, stock brokers.... Airlines have cut flights and their workers have seen hours cut. Retailers have not staffed-up for the holidays, and are actually scheduling the people they do have for fewer hours.Now we enter the negative feedback loop.
Link to post
Share on other sites
Oct 17, just over a month ago, Warren Buffet released an article saying we should buy American stocks becuase he was. Buy when everything is bleakest.
Who killed the U.S. auto industry? To hear the media tell it, arrogant corporate chiefs failed to foresee the demand for small, fuel-efficient cars and made gas-guzzling road-hog SUVs no one wanted, while the clever, far-sighted Japanese, Germans and Koreans prepared and built for the future. I dissent. What killed Detroit was Washington, the government of the United States, politicians, journalists and muckrakers who have long harbored a deep animus against the manufacturing class that ran the smokestack industries that won World War II. As far back as the 1950s, an intellectual elite that produces mostly methane had its knives out for the auto industry of which Ike's treasury secretary, ex-GM chief Charles Wilson, had boasted, "What's good for America is good for General Motors, and vice versa." "Engine Charlie" was relentlessly mocked, even in Al Capp's L'il Abner cartoon strip, where a bloviating "General Bullmoose" had as his motto, "What's good for Bullmoose is good for America!" How did Big Government do in the U.S. auto industry? Washington imposed a minimum wage higher than the average wage in war-devastated Germany and Japan. The Feds ordered that U.S. plants be made the healthiest and safest worksites in the world, creating OSHA to see to it. It enacted civil rights laws to ensure the labor force reflected our diversity. Environmental laws came next, to ensure U.S. factories became the most pollution-free on earth.It then clamped fuel efficiency standards on the entire U.S. car fleet. Next, Washington imposed a corporate tax rate of 35 percent, raking off another 15 percent of autoworkers' wages in Social Security payroll taxes State governments imposed income and sales taxes, and local governments property taxes to subsidize services and schools. The United Auto Workers struck repeatedly to win the highest wages and most generous benefits on earth -- vacations, holidays, work breaks, health care, pensions -- for workers and their families, and retirees. Now there is nothing wrong with making U.S. plants the cleanest and safest on earth or having U.S. autoworkers the highest-paid wage earners.That is the dream, what we all wanted for America. And under the 14th Amendment, GM, Ford and Chrysler had to obey the same U.S. laws and pay at the same tax rates. Outside the United States, however, there was and is no equality of standards or taxes. Thus when America was thrust into the Global Economy, GM and Ford had to compete with cars made overseas in factories in postwar Japan and Germany, then Korea, where health and safety standards were much lower, wages were a fraction of those paid U.S. workers, and taxes were and are often forgiven on exports to the United States. All three nations built "export-driven" economies. The Beetle and early Japanese imports were made in factories where wages were far beneath U.S. wages and working conditions would have gotten U.S. auto executives sent to prison. The competition was manifestly unfair, like forcing Secretariat to carry 100 pounds in his saddlebags in the Derby. Japan, China and South Korea do not believe in free trade as we understand it. To us, they are our "trading partners." To them, the relationship is not like that of Evans & Novak or Fred Astaire and Ginger Rogers. It is not even like the Redskins and Cowboys. For the Cowboys only want to defeat the Redskins. They do not want to put their franchise out of business and end the competition -- as the Japanese did to our TV industry by dumping Sonys here until they killed it. While we think the Global Economy is about what is best for the consumer, they think about what is best for the nation. Like Alexander Hamilton, they understand that manufacturing is the key to national power. And they manipulate currencies, grant tax rebates to their exporters and thieve our technology to win. Last year, as trade expert Bill Hawkins writes, South Korea exported 700,000 cars to us, while importing 5,000 cars from us.That's Asia's idea of free trade. How has this Global Economy profited or prospered America? In the 1950s, we made all our own toys, clothes, shoes, bikes, furniture, motorcycles, cars, cameras, telephones, TVs, etc. You name it. We made it. Are we better off now that these things are made by foreigners? Are we better off now that we have ceased to be self-sufficient? Are we better off now that the real wages of our workers and median income of our families no longer grow as they once did? Are we better off now that manufacturing, for the first time in U.S. history, employs fewer workers than government? We no longer build commercial ships. We have but one airplane company, and it outsources. China produces our computers. And if GM goes Chapter 11, America will soon be out of the auto business. Our politicians and pundits may not understand what is going on. Historians will have no problem explaining the decline and fall of the Americans.
Link to post
Share on other sites
Our politicians and pundits may not understand what is going on. Historians will have no problem explaining the decline and fall of the Americans.
In summary, we impose limitations on our industries that we do not impose on imports, allowing imports to out compete and kill all of our industries.Globalization.....We won't let someone work for $1 a day here, but we'll import goods made by $1 a day labor... so nothing is built here. Ditto OSHA, EPA, tax, and just about every other regulation. US business can't compete when the playing field is THAT slanted.
Link to post
Share on other sites

I do not believe that today's last hour ralley has anythign to do with Geithner being Obama's pick for Sec Treasury. More likely it is, in my opinion, just options expiration. We had the typical options expirtion day volume pattern. Lots of tading at open, then nothing, then lots more trading right at the end of the day.I highly doubt this ralley will be any more successful than the last 3.

Link to post
Share on other sites

Damn this guy had it right!http://www.youtube.com/watch?v=mOiZ3szRn6EAll the other commentators were laughing like he was a crazy person on the corner yelling at passerbys about the end of days.Scary thing is he says the recession is gonna last longer than 4 years.Well he cant be right all the time, right?

Link to post
Share on other sites
Damn this guy had it right!http://www.youtube.com/watch?v=mOiZ3szRn6EAll the other commentators were laughing like he was a crazy person on the corner yelling at passerbys about the end of days.Scary thing is he says the recession is gonna last longer than 4 years.Well he cant be right all the time, right?
Exactly what is going to pull us out of this recession?
Link to post
Share on other sites
In summary, we impose limitations on our industries that we do not impose on imports, allowing imports to out compete and kill all of our industries.Globalization.....We won't let someone work for $1 a day here, but we'll import goods made by $1 a day labor... so nothing is built here. Ditto OSHA, EPA, tax, and just about every other regulation. US business can't compete when the playing field is THAT slanted.
We aren't lifting anyone up. We're dismantling the biggest success story in world history.
Link to post
Share on other sites
Damn this guy had it right!http://www.youtube.com/watch?v=mOiZ3szRn6EAll the other commentators were laughing like he was a crazy person on the corner yelling at passerbys about the end of days.Scary thing is he says the recession is gonna last longer than 4 years.Well he cant be right all the time, right?
Exactly what is going to pull us out of this recession?
Link to post
Share on other sites
Fuk u Citigroup.F U TO HELL!!!!and f u to my boss who told me to buy the shit out of it....sigh....gg 8 K . :club:
don't worry yet, they might get bailed out. Also, your boss is kinda crazy. Citigroup has been in trouble for awhile now. They were trying to get middle-eastern financiers in the summer.
Link to post
Share on other sites

I knew I was gambling, but I also knew this institution was clearly in the 'too big to fail category and that over time might be a good play. I was looking 5 years out. But now..SHIT! I mean, how the hell can they fail? For what it's worth that article made me feel worse, not better.This is beyond belief...just horrible. :club:

Link to post
Share on other sites
I knew I was gambling, but I also knew this institution was clearly in the 'too big to fail category and that over time might be a good play. I was looking 5 years out. But now..SHIT! I mean, how the hell can they fail? For what it's worth that article made me feel worse, not better.This is beyond belief...just horrible. :club:
I dont know what it means for your stock but they got bailed outhttp://money.cnn.com/2008/11/23/news/compa...sion=2008112400
Link to post
Share on other sites
The talking heads were saying it would mean the stock could be reset somehow..I have no idea what that means. It's not bankruptcy, so?Anyone?........ anyone? ......... Bueller?
What it means is if it goes way up this week... sell it quick. But silver or gold or more BAC...
Link to post
Share on other sites

Hmmmmm all these good days in a row...i'm tempted to short Goldman at 80 again. When is this rally gonna fade? Soon I think.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Announcements


×
×
  • Create New...