louis c
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Mon Sep-15-08 08:09 PM
Original message |
World Stock Markets Tumble, Dow Futures Signal Second Day of Decline |
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Edited on Mon Sep-15-08 08:10 PM by louis c
AIG is struggling to stay afloat as we speak. CNBC is running a special report now (9:00 PM EDT-9/15). The market futures are down over one hundred points and the world markets are tumbling. This is the chickens coming home to roost after 8 years of Republican economic policy. The sorry part about it is that we all will suffer. World Markets http://money.cnn.com/data/world_markets/index.htmlDow Futures http://money.cnn.com/data/afterhours/index.html
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maseman
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Mon Sep-15-08 08:13 PM
Response to Original message |
1. It will tumble for a few days |
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Then there will be an influx of people who will go for discounts. It will stop the bleeding for a little while but I think the Dow will be in the doldrums for at least a few quarters.
What sucks the most are people like my folks who have about $200,000 saved up for retirement. They'll probably lose $20,000 to $30,000 before it ends and that is money they want to retire on. Poof...gone.
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thewiseguy
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Mon Sep-15-08 08:16 PM
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2. Influx of people who will go for discounts? |
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Why do I keep hearing about this? And yet it really never materializes.
Its time to get out and put your money on CDs. Once more banks fail, there will be an influx of people who want to move their money somewhere safe.
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greguganus
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Mon Sep-15-08 08:27 PM
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6. I'm going to ride it out. I got about 20 more years before I retire and need my money. nt |
louis c
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Mon Sep-15-08 08:17 PM
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3. I think it will get worse, much worse, before it gets better |
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This one smells different. Something tells me the game has moved into a new dimension.
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Warpy
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Mon Sep-15-08 08:20 PM
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I said at the beginning of the year that there would be quite a few sucker rallies, but that the general trend of the market would be down until we got Stupid out of office. I expect a modest rally under a Democratic administration, but it might be short lived unless the underlying problems in the system are fixed by re regulation.
More troubling than the market is the continuing default of the massive debt load held by the public, debt that was assumed in large part to compensate for wages that have been held down since the 70s. People wanted all that stuff they saw in the malls and a deregulated financial industry was only too happy to let them go deeply into debt to get it.
If you want to see where financial disaster comes from, follow the debt.
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Pale Blue Dot
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Mon Sep-15-08 08:24 PM
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Your post is the smartest and most concise of any of the commentary that I've read over the past few days. :thumbsup:
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maseman
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Mon Sep-15-08 08:31 PM
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The stock market is one thing...local retailers is a different story. When there's no more jobs there's no more people to buy stuff.
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Odin2005
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Mon Sep-15-08 09:35 PM
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8. A few quarters? More like a few YEARS. |
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Following the Great Depression the Dow didn't reach the 1929 high again until the 1950s. The 25-year "Long Boom" is finished, prepare for a persistent bear market over the next few years.
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Wed Apr 24th 2024, 07:08 AM
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