What do you make of this past weekend on Wallstreet?
- Thread starter Rugger
- Start date
Dwight Schrute
I am faster than 80% of all snakes
Pull the bandaid off fast...get it over with.
BTW - Oil down to $95....(told you)
BTW - Oil down to $95....(told you)
Kristofer68SS
Well-known member
save my pennies? for what?
the big sale at NP? or the 5 dollar a gallon gas........
lol
Dwight Schrute
I am faster than 80% of all snakes
Ummm.....
Palo Alto Labs
Dave
you mean the sky isnt falling anymore?Pull the bandaid off fast...get it over with.
BTW - Oil down to $95....(told you)
Oil should be down into the 70-80's where it belongs soon enough. Probably hit a few more speed bumps along the way but artificial market highs can only stay elevated so long.
Wall Street always evens out and delivers over time... just dont put all of your eggs in 1 basket and this will all be a memory soon enough.
Dwight Schrute
I am faster than 80% of all snakes
I like it. The market is regulating itself. Getting a mortage shouldn't be easy and the dollar is finally climbing and popping the commodity bubble.
The government finally drew the line in the sand and said no more bailouts with taxpayer money.
Delta Force
PES Rep
lots of consolidation taking place in wall street... kinda scary to see these very old firms just roll over and disappear
hopefully this will signal and end to this credit crisis since theres less bad apples around and we can look forward to better times
and my portfolio will go up for a change!
hopefully this will signal and end to this credit crisis since theres less bad apples around and we can look forward to better times
and my portfolio will go up for a change!
Australian made
Well-known member
Exactly!
Maybe these banks won't be so greedy from now on.
Its been an exciting day to say the least .............i work in a hedge fund.
futurepilot
Well-known member
You mean after we get the bill for fannie mae, and freddie mac?
Delta Force
PES Rep
and Bear Sterns (29B) of losses covered by uncle sam (i mean US tax payers)
Delta Force
PES Rep
its hard to say if this is for the better... a lot of people will be affected by these troubled firms and the long picture does not look good either, less wall street firms means less competition and could mean higher prices
btw, these wall street firms will always be greedy, they work for profits and they (wall street firms) demand profits from other companies as well as for them selfs
Dwight Schrute
I am faster than 80% of all snakes
Can you tell me what would happen if Fannie and Freddie would fail and can you please let me know who gave Hank Paulson a blank check when it comes to Fannie and Freddie? Here is a hint..its not Republicans.
Dwight Schrute
I am faster than 80% of all snakes
Australian made
Well-known member
i feel sorry for the mum n dads who's superannuation (401K) plans have just gone tits up because their fund managers were heavily invested in the "safe" banks. It also has a trickle down effect on everyone. Their biggest shareholder is AXA.....there goes there pension plans...
Delta Force
PES Rep
long term we're all dead.... and right now so is my portfolio :whiner:
futurepilot
Well-known member
I realize the implications of major lenders going under, I was merely making the observation that this seems like the middle bell curve of gov. sponsored bailouts, not the end. Since you made the comment that
im glad that merril lynch got bought out, Lehman bro. should interesting though. The global investment community should jump at the chance to pick up their holdings.
Dwight Schrute
I am faster than 80% of all snakes
Anyone with an ounce of sanity shifted out of financials a long time ago.
The one thing that always follows something like this in the long term is a bull market. 86, 91, 2001....all led to bull markets.
Just have to weather this storm and election rhetoric that will follow.
The commodity bubble burst and that was the biggest tax and burden on the economy.
Dwight Schrute
I am faster than 80% of all snakes
They denied AIG as well about 2 hours ago which caused the market to plummet. The window seems to be closed.
They tried all weekend..nobody wanted them.
futurepilot
Well-known member
AIG is getting 20b from its subsidiaries to stay afloat, for the time being.
I was referring to the liquidation of their assets through the bankruptcy process.
Dwight Schrute
I am faster than 80% of all snakes
It has an enormous amounts of assets but the fact they went to the fed for short term financing spooked everyone. Then the $75 billion lending package got thrown around...
The problem with AIG is there is no transparency with them.
futurepilot
Well-known member
If the Gov trys to back door funds to them through JP Morgan I think it will create more problems than it solves, in the future everyone will be looking for handouts.
Dwight Schrute
I am faster than 80% of all snakes
Which is why I like seeing them finally draw a line. This needs to happen.
futurepilot
Well-known member
Thats because 10% of the country makes $10,000 a year, The average american isnt being affected by this, its the 30,000,000 americans that dont make any money that are.
Dwight Schrute
I am faster than 80% of all snakes
This is a narrow way of looking at it.
Will it greatly effect you right now? No.
But with the current state of things don't expect your salary to rise anytime soon and in that time inflation will make the value of what you take home decrease.
When credit is tightened, it inhibits growth. Many companies simply cannot grow without access to credit which in turn stagnates wages, salaries, jobs, etc....
The silver lining in all of this is gas and food prices have dropped for the last 2 months and will continue to drop.
Dwight Schrute
I am faster than 80% of all snakes
Sure they are. Whenever credit is inhibited as it is, you will see stagnation across the board.
futurepilot
Well-known member
Stagnation yes, but your average cubical worker still makes it to work everyday, there are janitors/food service workers etc, normal people making minimum wage, that cant afford to fill their car up, or consistently buy milk for their family.
Of course there is a myriad of other underlying social issues that go along with that sort of predicament, but in general, most people haven't see a significant change in their quality of life.
We dont know what the future may hold, but right now the hardest hit have been those that were already in financial trouble.
Palo Alto Labs
Dave
thats why you are not experiencing hardship. you have almost 0 liability in this world at this stage in your life. enjoy it.
But it sucks when you are managing a mortgage, kids, home repairs, etc... on a set income. If you really pay attention, yuoll notice that many staple grocery items are up 25-50%. When your 1 person on $30k... this is nothing. but a family of 4 on $50-60k/yr... suddenly you are spread pretty thin.
Also... imagine that you are in your 40's or 50's ... your life is soon to be dependent on your retirement funds. You only have so much time before retirement, so you need all of the best years that you can get. Economy hits a slump for 3-5 years??? There goes $50-$100k potential from your retirement fund... kinda changes everything.
Omen
Banned
Well I'm happy with the money I'm making now at 21, I'm grateful for the way I'm living.
Unless things go up incredibly fast within the next 1.5 years, I'm not worried about it, after that, it's the Military's problem, not mine
Omen
Banned
I don't believe in monogamy or marriage so there goes the wife/kids, not gonna buy a home until 40-50 because there's no point in having one if I'm gonna be traveling all the time.
I turned down a job offer with a PMC for $176,000/yr, $80,000 tax free, paid vacation 2 weeks, etc.....
With Military combat experience and training I'm looking at at least $200,000/yr and MAX $400,000, that would be after 6 years in the Military.
Do that for 10 years.....I'm set
Unless I die then I don't have to worry about work :hammer:
Kristofer68SS
Well-known member
I sure hope your right here, the gas prices and hyperinflation on everything else is outright killing me and mine.
I drive a beater 97 grand am 2.4 liter 4 door because it gets 27 mpg, My GMC Sierra gets 12--do the math......
I save myself a bottle of DTH each week ..........when its in stock..........
Dwight Schrute
I am faster than 80% of all snakes
I don't believe in monogamy or marriage so there goes the wife/kids, not gonna buy a home until 40-50 because there's no point in having one if I'm gonna be traveling all the time.
I turned down a job offer with a PMC for $176,000/yr, $80,000 tax free, paid vacation 2 weeks, etc.....
With Military combat experience and training I'm looking at at least $200,000/yr and MAX $400,000, that would be after 6 years in the Military.
Do that for 10 years.....I'm set
Unless I die then I don't have to worry about work :hammer:
Of course you are.
Australian made
Well-known member
its hanging on by a thread.....
Australian made
Well-known member
now the rumours have spread to Goldmans....interesting to see how their results go down later in the week.
Delta Force
PES Rep
if the fed does not lower rates today... AIG will have another big sell off -50% day
Usf97j4x4
CEL Rep (Z's lacky)
Maybe Fannie and Freddie wouldnt be in the crapper if they didnt pass out mortgages backed by tax payer money to unqualified borrowers, thanks Obama and ACORN!!!
My portfolio is in the crapper... even my hedge funds. At this point i'm not going to check it until i'm 50.
Too bad I didnt short Lehrman
My portfolio is in the crapper... even my hedge funds. At this point i'm not going to check it until i'm 50.
Too bad I didnt short Lehrman
neoborn
Well-known member
It is merely a chess game and we are the pawns / pieces. The game is played by the power brokers i.e. the major company owners and people in power that choose what to boost and what to drop. It is all about control.
Everything on Wall Street etc is done with a specific result in mind, which will happen since all the people with power work together to create the outcome...
The government, the companies do not care about you, they only care about controlling you and getting you to do what they need done!
I'll give you a guess, you may think it's conspiracy but when it is what is happening in a step by step process it's not...it's reality...one......world.......order.
Everything on Wall Street etc is done with a specific result in mind, which will happen since all the people with power work together to create the outcome...
The government, the companies do not care about you, they only care about controlling you and getting you to do what they need done!
I'll give you a guess, you may think it's conspiracy but when it is what is happening in a step by step process it's not...it's reality...one......world.......order.
Australian made
Well-known member
you are wrong, there is absolutely no control of whats gonig on at the moment. thats what the problem is.
Gutterpump
Banned
I work for AIG in NY. Pretty damn tense around here..
Rugger
Well-known member
Go get us some answers.
Gutterpump
Banned
Wish I could but noone around here knows. Everyone's just left in suspense. It's going to come down to a last minute action and I'm likely to hear it on the news before anyone around here will know.
AIG has too much going for them to go down though, and there's only one division bringing down the numbers in a big way. They just need the time to liquidate some assets and regroup..just a short bridge loan. We will all know in one day afaik...one day may not be enough...hoping something will come through though.
AIG has too much going for them to go down though, and there's only one division bringing down the numbers in a big way. They just need the time to liquidate some assets and regroup..just a short bridge loan. We will all know in one day afaik...one day may not be enough...hoping something will come through though.
Nabisco
Well-known member
If you're 50+ and your 401k is tanking, you should have paid attention.
At 50-65 range you should have started to shift your portfolio into lower risk avenues. And it's not like you haven't seen this market drop coming for oh...I don't know...at least a year. Plenty of time to liquidate your shares of stock or your mutual funds and either drop it into bonds, or protect it by keeping it on the sidelines.
And for the rest of you gentlemen out there, you should be doing a skippy dance and saving every penny possible over the next 12 months to invest with. Because there are TONS of stocks sitting way under value due to the times. Buy them now, or hold off until the market begins its slow climb back to normalcy. In the next few years there is going to be plenty of money to be made. While all your friends panic and sell sell sell, take the time to research some stocks and buy buy buy.
:fool2:
At 50-65 range you should have started to shift your portfolio into lower risk avenues. And it's not like you haven't seen this market drop coming for oh...I don't know...at least a year. Plenty of time to liquidate your shares of stock or your mutual funds and either drop it into bonds, or protect it by keeping it on the sidelines.
And for the rest of you gentlemen out there, you should be doing a skippy dance and saving every penny possible over the next 12 months to invest with. Because there are TONS of stocks sitting way under value due to the times. Buy them now, or hold off until the market begins its slow climb back to normalcy. In the next few years there is going to be plenty of money to be made. While all your friends panic and sell sell sell, take the time to research some stocks and buy buy buy.
:fool2:
Gutterpump
Banned
I wish I were a day trader right about now...
btw that's exactly what I did with my 401K this past year... got em out of there...
btw that's exactly what I did with my 401K this past year... got em out of there...
Gutterpump
Banned
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