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  1. #1
    Join Date
    Aug 2009
    Posts
    2,459

    Stock Market Selloff- No end in sight?

    I've seen the market go through some massive downturns in my day. I still don't think that I've seen anything quite so depressing as the tech bubble that burst a decade ago and took 50% of the value of the NASDAQ with it.

    But another week like this and I'll be forgetting about that minor correction.

    The stock market lost 600 points today. Bank of America investors lost 20% today- those losses alone eliminated 16.8 BILLION dollars. And that was just BofA and that's just TODAY. Other companies did worse of course.

    The headlines I see today include:

    "Looking for market bottom? You could have a long wait"
    "Second US Recession Could Be Worse Than First"
    "S&P500 Extends Worst Slump Since 2008 Bear Market"
    "Central Bankers Confront Decision on Which Economic Risk Scares Them Most"


    Do any of you have a reason to believe that there is a blue sky behind all of these clouds? I can't even imagine what could reverse this trend and bring back some of America's wealth. And I don't see it as likely if I can't even imagine it...

    Anyone?

  2. #2
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,307
    nothing says RECESSION like a stock market sell off
    The Last four letters


    American = I Can, Republican = I Can, Democrats = Rats


    any questions

  3. #3
    Join Date
    Aug 2009
    Posts
    2,459
    Yeah, I can't even think of any pie-in-the-sky scenarios where things start to look better.

  4. #4
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,307
    Quote Originally Posted by BACnet View Post
    Yeah, I can't even think of any pie-in-the-sky scenarios where things start to look better.
    I can, but it involves a lottery win and me buying an Island in the Caribbean
    The Last four letters


    American = I Can, Republican = I Can, Democrats = Rats


    any questions

  5. #5
    Join Date
    Sep 2002
    Posts
    2,735
    I am buying !!!

  6. #6
    Join Date
    Sep 2010
    Location
    Western, MO
    Posts
    871
    I've gotten lucky a couple of times. I pulled about half out of the market in 07.

    I pulled all but 10% out two months ago. I'll buy some back when I think it's close to bottom, but I'm not going to get very deep in it for a few years.

    jim
    Common sense isn't very common anymore.

  7. #7
    Join Date
    Sep 2002
    Posts
    2,735
    Quote Originally Posted by BACnet View Post
    I've seen the market go through some massive downturns in my day. I still don't think that I've seen anything quite so depressing as the tech bubble that burst a decade ago and took 50% of the value of the NASDAQ with it.

    But another week like this and I'll be forgetting about that minor correction.

    The stock market lost 600 points today. Bank of America investors lost 20% today- those losses alone eliminated 16.8 BILLION dollars. And that was just BofA and that's just TODAY. Other companies did worse of course.

    The headlines I see today include:

    "Looking for market bottom? You could have a long wait"
    "Second US Recession Could Be Worse Than First"
    "S&P500 Extends Worst Slump Since 2008 Bear Market"
    "Central Bankers Confront Decision on Which Economic Risk Scares Them Most"


    Do any of you have a reason to believe that there is a blue sky behind all of these clouds? I can't even imagine what could reverse this trend and bring back some of America's wealth. And I don't see it as likely if I can't even imagine it...

    Anyone?
    Yes.Company earnings this Quarter came in blowout.Oil droping,a major plus.Dividends too high not to buy.Much of the selling is computer generated and people on margen.I can not say its over yet, we will know after labor day,like I said I am buying.

  8. #8
    http://www.zerohedge.com/article/exc...estic-economy-


    The sell off LMAO.

    Maybe just maybe Uncle Ben and his McDonalds discount drive through window should not have been loaning to primaries with only US holdings.

    If you think for a second this does not affect our economy,which in turn is now directly affecting Wall St.you have cobwebs for brains.
    FEN

  9. #9
    Join Date
    Apr 2007
    Posts
    6,285
    You always start buying on the way down.

    But this time it's going way down.

    Like spiraling out of control down.

    Once you get downgrade certain groups of investors can't buy treasuries.

    And as the credit rating drops that means less and less investors that can buy treasuries.

    What that means is even if you can take on debt no one will buy it.

    It gets worse and worse.

    The more the government has to downgrade the faster the GDP drops and if it drops over two quarters you're in a recession which you're probably already in.

    The longer a recession/depression, the worse off our social safety net gets, in their already $108 trillion in unfunded liabilities.

    We've been living out of our means for 110 years, it's going to be tough thing to deal with.

  10. #10
    Join Date
    Apr 2007
    Posts
    6,285
    If I had to make a quick assessment of what that means I would come to the conclusion that as our SOL drops theirs rises. The more people that populate the earth the more finite the resources.

    The more life searches for it and makes claims on it.

    The more other people want it.

    With higher standards of living and 80 million people a year being born in Asia you got a mighty large problemo on your hands essay.

    You better start taking on as many North and South Americans as will come your way.

    You need to give them blanket amnesty and tax them all on a progressive scale. Even something like 1% up to $2000/year just so everyone has a say and some pride in the country.

    You have to abolish minimum wage.

    You have to open your borders to anyone that wants to come in.

    Remove any regulations regarding starting businesses.

    Have the government fund the newest innovations in whatever is efficient. I mean only if it increases efficiency.

    Build the railroads back up and remove all of that wear and tear from truckers on the roads. It's much more effcient to transport by railroad.

    Abolish corporate taxes.

    If you did those things you'd see the greatest decrease in unemployment in the history of time.

  11. #11
    Join Date
    Sep 2002
    Posts
    2,735
    Quote Originally Posted by the mojo View Post
    http://www.zerohedge.com/article/exc...estic-economy-


    The sell off LMAO.

    Maybe just maybe Uncle Ben and his McDonalds discount drive through window should not have been loaning to primaries with only US holdings.

    If you think for a second this does not affect our economy,which in turn is now directly affecting Wall St.you have cobwebs for brains.
    The zero hedge,you know how they make money,by scaring you out of yours !

  12. #12
    Quote Originally Posted by coolperfect View Post
    The zero hedge,you know how they make money,by scaring you out of yours !
    Nice try,think it through and you will get the whole picture.

    Last year May June and July there was such a big stink in Europe about systemic risk and then it died down.

    Ben the Globolender that is rich.
    FEN

  13. #13
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,772
    Quote Originally Posted by BigJon3475 View Post
    If I had to make a quick assessment of what that means I would come to the conclusion that as our SOL drops theirs rises. The more people that populate the earth the more finite the resources.

    The more life searches for it and makes claims on it.

    The more other people want it.

    With higher standards of living and 80 million people a year being born in Asia you got a mighty large problemo on your hands essay.

    You better start taking on as many North and South Americans as will come your way.

    You need to give them blanket amnesty and tax them all on a progressive scale. Even something like 1% up to $2000/year just so everyone has a say and some pride in the country.

    You have to abolish minimum wage.

    You have to open your borders to anyone that wants to come in.

    Remove any regulations regarding starting businesses.

    Have the government fund the newest innovations in whatever is efficient. I mean only if it increases efficiency.

    Build the railroads back up and remove all of that wear and tear from truckers on the roads. It's much more effcient to transport by railroad.

    Abolish corporate taxes.

    If you did those things you'd see the greatest decrease in unemployment in the history of time.
    This is the race to the bottom - enjoy the ride.

    With the way things are going I don't have much hope the government will be able to effectively fund anything that might distribute the wealth anywhere but up so the infrastructure improvements and innovation will be left up to the major corps and they won't spend it here when there are more lucrative opportunities elsewhere.
    Fox News - Rich people paying rich people to tell middle class people to blame the poor.

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