I wish the Dow and Nasdaq would go to "Zero"

[Jack Sprat]

I am sick and tired of hearing about corporations, including media corporations, having the primary responsibility of making profits for its' stockholders.

I say "hell with all of em".

Wall Street and its' precious stockholders' profits cause both parents to work and sometimes more than 1 job, just to make ends meet. It can drop like a rock and stay there, for all I care. It isn't wages fairly earned. It is money made by the sweat of other people.

[ima_sinnic]

1. ...

:popcorn:

[Caution]

2. Yeah good idea. put most Americans out of work. That'll help.

[Demeter]

3. Give Them Till October

All hell breaks loose when the federal fiscal year comes to an end, usually. It's only a matter of time....

[KittyWampus]

4. you've apparently no idea the misery that would cause.

[Raven]

5. I understand your frustration but many hard working people

have their retirement money in the market. Many pension funds and retirement accounts are depending on Wall Street.

[Jack Sprat]

8. Well, if that is so, Raven, and I know you wouldn't lie,

then many hard working people have their money invested with thieves and predators. Have you ever considered how foreign fund managers make money for their clients? With child labor, cheap labor, and slave wages, that's how. Think about it.

[Demobrat]

6. Yeah! Screw all those scumbags

who bring their lunch to work every day and spend their weekends in front of the TV so they can afford to contribute to a 401k. Spoiled yuppies, all of 'em!

[Jack Sprat]

9. Right! And inherit "Death taxes", which they

don't want to pay, because their daddies and granddaddies made a fortune, so they could relax by pool all day long and they shouldn't have to pay taxes on their inheritance. yeah, that's right.

[Rosa Luxemburg]

7. yes would be nice to have a different system

pity the world has to rely on financial hot air

[msongs]

10. yeah let's put a fatwah on all stockholders, death to all of them nt

[Jack Sprat]

13. Not death. Just no profit to them

for work they didn't do. Let them earn their own money with their own blood, sweat, and tears. It would teach them the value of a dollar.

[Mz Pip]

11. There goes my reitrement

What do you think would happen to IRAs, 401Ks and any other pension plan?

Geez, what a clueless comment.

Mz Pip
:dem:

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[RC Quake]

20. Absolutely!

All of us that placed our retirement in 401k and IRA because we knew social security would not be there for us would be totally screwed! My spouse & I have been scrimping & saving for 25 years so we could put a large % of every check away for retirement.

Is the OP trying to say that we didn't work for our retirement? I don't suck off the tit of anyone for my livelihood. I've worked hard for every penny.

[LSparkle]

12. I feel your pain ... I just wish the media wouldn't focus so much on NYSE

It seems like when the Dow takes a dive it's big news or when it hits a new high or ... whatever. I know the sucky MSM have carried stock market reports since I was a kid but it just seems like there's an obsession with the market now that's sickening ... There's CNBC and the upcoming Faux Business channel ... Except for Lou Dobbs (with whom I also disagree on lots of things), no one talks about the state of the working man in this country, how the big corporate profits (adversely) affect him. I just wish there were a balance so that we'd hear as much about Main Street as we do about Wall Street, and that we were encouraged to root for the former once in a while, instead of being cheerleaders for the latter.

[LittleClarkie]

15. Yeah, fuck up my 401k. That'll show The Man

Yep.

[Jack Sprat]

19. Why did you invest your wages in instruments

that you knew had risks involved? Why? That wasn't even your company that you were betting on, was it? Answer me now....quick.quick. Was it?

[Mz Pip]

36. My retirement

is part of my years of public service. Money was taken out of my check every month. I HAD NO CHOICE.

So what is your solution for people who work in public service (in my case, education)? Should I put $20 bucks a week under my fucking mattress? Maybe not work at all? I gues if I go on welfare and don't pay into any system - just take from the government - then I get a pass. Live off the land? Good luck with that.

I have no idea what you are suggesting.

Mz Pip
:dem:

[LuckyTheDog]

42. My thought exactly (nt)

[Pavulon]

16. Nice, that kills my retirement and most others

who invest in 401k. Really should I put money in my mattress?

[Jack Sprat]

25. No, don't put your money in a mattress. I have a new

company to invest in. I got this on a tip from an insider. But, first, pay me something for my time and research. Say, 20%?

[Balbus]

17. Fuck that!

[slackmaster]

18. Would you like to see 90% unemployment in this country?

I say "hell with all of em".

I'd be one of the few left with a job, MAYBE, because my employer's stock isn't traded on a US exchange.

OTOH all of OUR customers would be gone, so I would probably be out of a job too.

[Jack Sprat]

22. Well, I guess I might as well chew

on my elbow awhile and lick my wounds. I reckon I spoke unwisely, a bit.

[slackmaster]

24. Rant forgiven, we all go off half-cocked once in a while

Is it true your wife eats no lean?

[Allyoop]

45. Hard Times a'comin'

There is speculation that we are heading for oil costing $200 per barrel! Better raise a garden and start canning.

No travel = no fun. However, $200 barrel oil means transportation comes to a standstill. No ships, no trucks and on and on.

We have more to worry about than a falling stock market.

However, on the optimistic side - maybe that will stop global warming.

Or start a larger war (not so optimistic).

[qdemn7]

21. Utter Foolishness

Many public employee unions have their pension plans invested in the 'market. The collapse of the market would destroy these retired people's lives.

[Jack Sprat]

23. Don't think it will come true, because of what I said.

I am never right about anything. Why would you base some tragedy on what I said? I always talk shit.

[theothersnippywshrub]

26. So you miss the good old days of the 1930's.

What aspect of the depression do you find most pleasing and would most like to see again?

[Jack Sprat]

27. The soup lines and the togetherness.

Don't pay attention to shit I say. I am full of it. Always have been.

[theothersnippywshrub]

31. Me too. n/t

[Robson]

28. Over-emphasis on corporate profits and CEO bonuses and not enough on worker bees

In the neocon America there is this huge over-emphasis on corporate profits, the financial sector and the need for deals....all of which contribute little if anything to America.

Yes the rich New York money makes their normal millions and billions in deals and commisions, but it comes out of the hides of most Americans who earn one helluva lot less. It is fact that the big New York money profits are subtracted from the pot that pays benefits and wages to most Americans.

The leveraged deals by the big money investors in hedge funds and private equity such as Blackstone get preferential 15% tax treatment,while the little worker bees struggling to get by, and are bartered like pawns on a chess board, are required to pay their 25-35% tax rate to subsidize the rich boys.

Those that have earned income under 90K fund the social security trust that subsidizes the general fund and pays for the rich NYC moneyed tax cuts who have only investment income. If you can't see the source of all disproportionate wealth to some and disproportionate taxes to the masses then it is sad indeed. Take a serious look at who has the money in the USA.

[tammywammy]

29. Yeah, you're right

Fuck that, I didn't need my 401k anyways!

:sarcasm:

[dsa]

30. and HOW MANY american's have their retirement in the market???

you better go back to kruschev's USSR comrade. this is america.

[ngant17]

32. thesis: when the DJIA increases, income gaps also increase

Which is to say, when Dow's industrial average is going up, it's a sign that the rich are getting richer, and the poor are getting poorer.

In one sense, I am guessing that the DJIA numbers can be better used as a trend to measure poverty rather than for wealth.

I am trying to find statistics on income variances in the US population, but I can't seem to find any metrics that the gov. uses to track variances in income on a statistical basis.

I know the Gini co-efficient is useful as a measure of income distribution, but can anyone suggest a way to measure income variances in the US? Especially over a long time period.

[OPERATIONMINDCRIME]

33. Not Sure Wishing Such Disaster On All Your Countrymen Is A Liberal Or Even Human Thing To Desire.

It would be an absolute catastrophe to every class there is. If you don't realize that off the top of your head, then you really need to take your 1/2" gap blinders off; as they're making your vision far too narrow.

You are wishing pain and suffering on all, basically. Complete economic collapse. Not exactly a post to be proud of imho.

[tammywammy]

35. But he really hates "corporations"

Forgetting that the end of corporate America will hurt a lot of innoncent folks.

Also, forgetting that we've protections in place so that the market cannot "crash."

[Warpy]

34. yeah, right, beggar all the old folks who put

their money into the market and are counting on the proceeds to allow them to live independently. That'll show 'em.

The truth is that the profits will decline right along with the consumer economy. The stocks will hold some value, but those dividends just won't be there.

That is going to require some national soul searching about the role of corporations, their relative strength in the power structure, about how wealth is allocated in this country, and about whether or not this retreat into feudalism is a good thing.

We know a breaking point is coming soon, but not what form it will take and whether it will be a quick collapse or the continuation of a slide.

Calling corporations worthless along with the stocks held by real human beings who need them to survive on won't accomplish anything but deepening the misery.

[gravity]

37. So you are praying for another depression?

The problem is that most Americans would be out of work, and our whole society would collapse.

[rucky]

38. Sounds like fun!

Is Tuesday good?

[SoCalDem]

39. At the height of US "prosperity" look at what the numbers were

Of course we still had union jobs then, and a high school education combined with a blue collar job was enough to support a family, buy a home and let Mom stay home with the kids if she wanted to..

the money just left the hands of the masses and went back into the pockets of the masters..
http://www.scaruffi.com/politics/dow.html


example
year ......DJ Avg
1966..... 873.6

[Ilsa]

40. That's okay Jack Sprat, I know what you mean, and I have an

IRA and own stock and shit. I get tired of hearing how much the companies are cleaning up also on the sweat of regular people. And then after they give the numbers, they report on how negligent a company was and caused an accident that killed some employees and their widows are scrambling to sue their asses, etc. It makes me crazy that so much of our economy is driven by corporations. I swear, it will eventually be like in the movie Alien and Aliens when everyone works for the corp and the govt is part of the corp.

[Jack Sprat]

43. Thanks, Ilsa. You know that I went way overboard

with my assertion. I, too, have my IRAs, 401K, and everything I own tied to Wall Street's market economy. I listened to one too many business reports concerning layoffs, wage concessions, and employee sacrifices to satisfy the investor's profit margins. I don't like hearing the obvious heart of the matter, I guess. For investors to thrive, the business employees have to sacrifice. Even with the advances in technology, I see more workplace stress than I ever imagined. You see it everywhere. It's in the service sector, manufacturing, account maintenance, sales, office workplace and warehouses alike. How much more can you strain from a human being? People have always owned stock, especially old blue-chip companies like GE, Westinghouse, Sears, etc. But, unlike today, these companies thrived along with their employees in the era that I grew up in (50s and 60s).

[The Inquisitive]

41. I was going to say something

then I realized I had nothing new to contribute

[Neshanic]

44. Be carefull what you wish for. This fall will be the fall of the stock market. Not to zero, but

a massive crash. The baling wire, sticks, poles, and braces of plywood holding up this nightmare will collapse. I see a Dow at down by at least half.