Market crash: are we there yet ?

[serenity4u2]

Does It Matter/ and Who should it matter to?

I have a THIRTY YEAR OLD Investment with USAA insurance.. My acct is booming and VERY strong! Do I realy care if some Wall Street banker and a bunch of Latte drinkers lose there jobs? They have the IVY league degrees- not me. I have the BIG Portfolio- not them... These were wall street latte drinking guru's who played financial wizzards and lost. Gee, when I was a HS kid I played dunbgeon and dragons and learned a wizzard was make belive...

These guys played thje market with there college education and lost.. I cry for the old lady who plays the lotto and loses but not for these guys.. They are the "educated"... Maybe some old Sgt Maj like myself should have told them about time and interest + wealth accumulation... Not some fancy finace gimmics that they end up holding...

Those who lose in the market are those who were greedy (most were young) sadly some oldies got in on it as well- they should have known better..

Am I that OLD that Only I Recall the SEVEN P's...???...

[serenity4u2]

All these Columbia and Harvard Latte Libs going through Bancruptcy School- lol- maybe they will LEARN REAL ECONOMICS... Swindlers making own rules getting hammered... Why are you Latte Libs sweating and this old salt sitting phat?

OIL DOWN!!!!!

DOLLAR UP!!!!!! WOW..... Why is this old sgtmgr doing so well???? Did I miss a couple of those Latte's? lol....

praise God for the wall street crumble- it humbles the greedy....

[PBzeer]

The good news out of Washington, is that Wall Street is all Bush's fault for mismangement. Evidently, the Dem congress was unable to do anything to reverse this, and so have no blame for the current situation.

It is only coincidence that a bad economy helps Dem election prospects, and has nothing to do with their inaction as the controlling party in Congress for the past two years. A review of campaign financial disclosures is also coincidental in showing most of the Wall St money going to Dems.

[Rickm505]

Hang on John. When Joe Lieberman is the one and only reason the Dems control the Senate. Democrats in fact control nothing. To suggest that a Democratic Congress has been able to actually impact anything in the last two sessions is disingenuous .

The best that can be said for the last two congressional sessions is that neither party could do anything. I'll admit that sometimes, that's not a bad thing but Americans deserve more than that. Right now we need a strong, dedicated, intelligent Congress. Instead we have a wannabe republican in Lieberman, who came within a whisker of being McCain's running mate, playing games with our country.

I find your post dishonest in it's intent to hoist our problems on the Democratic party after 8 years of Republican management.

[PBzeer]

Interesting that 5 years ago Bush proposed an oversight committee for Fannie and Freddy. According to a NYT article 9'11'03, the Dems didn't think it would be a very good idea. More of Bush's mismangement I guess.

[PBzeer]

Foisting blame? No, I'm just asking a question. (And according to Obama, Lieberman is a Dem, cause he votes with them over 90% of the time).

The larger point is, it's all about blame. Not about what needs to be done. You worry about blame after the problem is fixed, not before.

[serenity4u2]

US Senator Christpher Dodd of CT and second LARGEST Recipient to fe=anny and freddy is BARRAK HUESEIN OSAMA...

[Rickm505]

This morning from Bloomberg....

"U.S. stock-index futures extended declines after housing starts trailed economists' estimates in August, spurring concern that the real-estate slump will continue to weigh on growth. ...."

Trailed estimates??? What in tarnation lead anyone who calls themselves an economist to believe that housing starts would increase??? It's time these guys turn off Fox News and start doing their homework.

Private securitization of mortgages died last year. The Feds have Nationalized what's left of secondary marketing of the mortgage industry. No bank has any money to lend. Nada ... zilch... They're all trying to cover dirivitive spreads that looked like such a great deal, back in the day, and their CEO's are trying to hang onto their jobs.

When banks run out of money, they usually don't stop lending (Wachovia has). Instead they tighten their guidelines so that only the cream of the crop has any hope of qualifying for a mortgage. Why don't these "experts" figure this out for themselves?

There are plenty of buyers out there. No one can lend to them. Roubini says that Real Estate will plunge another 20% from today's levels. I think he's being too conservative. We can only hope that this administration wakes up and introduces a real housing bill and of course pray that it levels out at that point.

To put things in perspective, in the "Great Depression" real estate declined 30%. We have just passed the 20% mark and are sinking faster than ever.

Hey..Republicans...Write the President... oh wait...write Cheney instead.

[serenity4u2]

My deepest sorrow for ALL Latte Libs.. My portfolio is awesome- wow....

Lets remember who recieved most money from fanny and freddy--- Dodd and Osama... Facts are sturburn are they not - lol...

[bill352]

Originally Posted by sailhog

Here's my morning prediction: Dow down 250 at the close.

Sailhog - I'm sure you know this already, but there are online electronic markets where you can go to bet on things like this, if you enjoy that sort of thing. Minimum $10 bet, IIRC, and the market itself sets the odds. Fun to watch, even if you're not a gambling person. I believe they also do elections.

I am financially unsophisticated compared to some of the posters here. I do know that I don't like what's going on with my pension fund. That is partly offset, however, by the fun I'm having watching all the free-market disciples on Wall Street elbow each other aside for a place at the government trough. Can't even put lipstick on that pig.