The idiots on the cable news networks screaming about 300 point drops in the DJIA

[RB TexLa]

are reminding me of some silly movie that had a villain that had been frozen for 100 years or so and when they unfroze him all his plans and numbers were outdated and silly. He want to threaten America or the Earth for a "MILLION DOLLAR" ransom. I just hear all this people saying it like him. That "THREE HUNDRED POINTS" is so big. I'm just waiting for the people who haven't been frozen to let them know it's not even a 5% drop.

[corkhead]

1. It was the first Austin Powers movie

[L. Coyote]

2. We should scream when it goes up, because that means the dollar is slipping!!

[Bitwit1234]

3. What precentage of America invests in the stock market

could that be the 28% who still cling to the bush myth.

[eleny]

4. Pension funds

[A HERETIC I AM]

10. At least 50% of Americans are invested in one way or another in the stock market

either through mutual funds, individual stock position, shares of their own company's stock or in pension funds.

[ieoeja]

12. We don't really have a choice.

Very few Americans get a pension anymore. Most of us were forced into 401(k) retirement plans whether we wanted it or not. This is supposed to put us in charge of our own retirement. In reality it puts the plan managers in charge. And everyone discovered in 2001 that even the safest, low return plans were actually quite high-risk. I lost half my 401(k) with everything invested in the "guaranteed" fund.

Worse yet, these funds aren't buying stocks for the dividends. Everything is capital gains based (value of the stock for sale). When the boomers start retiring the funds will have to sell stock to pay off the retirees. And when all the funds start selling, stock prices are going to drop. Yet, we still have an entire political party trying to convince us that our money would be safer in a 401(k) than in Social Security.

[On the Road]

5. It's Really Not a Big Deal -- At This Point

There was a sudden correction followed by a rally. Eventually there's going to be another recession and stocks will probably tank in a serious way. It could now. But it's still up for grabs. The market has a way of behaving contrary to what most people think.

[stillcool]

6. The phrase...

"irrational exuberance" keeps running through my brain.

[TahitiNut]

7. I continue to wish there were a 2% equity sales tax on stock 'trades.'

:grr:

[RB TexLa]

8. To purposely slow down investment?

[TahitiNut]

11. To slow down day-trade speculation, not INVESTMENT. And help pay costs of market regulation.

The stock market couldn't exist without public laws, regulation, and enforcement. While a secondary market is needed, to calll it "investment" is hyperbole when less than 1% of the market actually results in capital being INVESTED in a business. It's a fiction that such monies correspond to purchases of plant and equipment or payment for labor.

[RB TexLa]

13. Speculation is a necessary part of any market

[ieoeja]

9. I meant to get out on Monday.

Heard a report Monday morning that big money was speculating on a downward turn in the stock market. So I meant to transfer my 401k when I got into work. Forgot. Forgot again on Tuesday and Wednesday. Finally, yesterday I remembered and submitted my transfer request.

So... I guess this was my fault. Had no idea my 401k was that influential.

:evilgrin:

Actually, I am seriously pissed. I submitted the request yesterday, which means it won't transfer until today. Which means I took the hit. If I hadn't kept forgetting it, I'd be all smiles today.