Market crash: are we there yet ?

[wind_magic]

This thread seems to be messed up.

Edit, well, it's fixed now since we moved to a new page.

Interesting Fed quote ...

WASHINGTON (Reuters) - Dallas Federal Reserve President Richard Fisher warned on Monday against "Buy America" provisions in a proposed fiscal stimulus law and said it could lead to devastating protectionism.

"Protectionism is the crack cocaine of economics," Fisher told C-Span television in an interview for its "Washington Journal" program. "It provides an immediate high that leads to economic death. We cannot afford to go down that route," said Fisher

Source: Fed's Fisher says protectionism equals economic death.

[PBzeer]

Wonder what's up with that? Maybe Sailnet needs a bailout?

[sailaway21]

George Will lays the stimulus efforts in context. That government takes a pummeling is just a side show benefit of reading the column.
Will: U.S. Better Off After Economy Recovers | Newsweek Voices - George F. Will | Newsweek.com

[JiffyLube]

America will be better off once this down turn is over. American's will finally start saving again, instead of spending their net worth on things that only lose value. Getting back to the roots of our parents thinking of saving and honest work, and living within our means, will benefit the new generations coming up with the values that we know work.

Buying American is only dangerous to the WTO. It wasn't that long ago that buying American was the thing to do, and America did just fine. I don't call buying American protectionism, I call it buying things that have real value. I think protectionism is when you try to stop foreign goods from entering a country, not when you you buy your own country's goods over another country's in a free market.

[sailaway21]

A gimlet eyed view of what's going down in DC. Jiffy, you ain't gonna be happy when you read this. Not that I'm turnin' cartwheels my own self.
Bloomberg.com: Opinion

[CPTMcCarthy]

I think this downturn is going to last a long time. However, I'm not too worried, as I have been living debt free (Other than the mortgage) for the last five years. (Of course, I have a long time horizon for retirement, too, since I'm under 40) I think this will be great for america to get back on track by saving their money, and stop wasting everything (money, resources, stuff) When living in Italy, I was amazed that almost all of the people I saw had 20-40 year old bicycles and reused everything. They didn't throw away perfectly good things like americans do.

[wind_magic]

Originally Posted by CPTMcCarthy

I think this downturn is going to last a long time. However, I'm not too worried, as I have been living debt free (Other than the mortgage) for the last five years. (Of course, I have a long time horizon for retirement, too, since I'm under 40) I think this will be great for america to get back on track by saving their money, and stop wasting everything (money, resources, stuff) When living in Italy, I was amazed that almost all of the people I saw had 20-40 year old bicycles and reused everything. They didn't throw away perfectly good things like americans do.

Welcome.

I agree, I think it is good for the country too. That's great you are debt free, I look forward to the day when most people in America can say the same thing. Right now it is difficult because so many people seem to have been willing to sell themselves into servitude, but hopefully sanity will be restored and more people will see the merits of living well and not just living big.

Good post.

[SailKing1]

I'm not so sure Windy, all those that sold themselves into servitude as you put it will be bailed out by the government using our tax dollars. There will not be a lesson learned and the cycle will continue until the government stops the craziness thats just continuing the disease.

[therapy23]

Originally Posted by SailKing1

I'm not so sure Windy, all those that sold themselves into servitude as you put it will be bailed out by the government using our tax dollars. There will not be a lesson learned and the cycle will continue until the government stops the craziness thats just continuing the disease.

I agree with that too.

My tax dollars are paying for others mistakes and my investments are in the tank because of those same people.

I have always been debt free except for a home mortgage the last 25 years. One late payment - mail foul up. I have NEVER owed anyone else anything, EVER.

And right now I am just sick.

[JiffyLube]

Originally Posted by sailaway21

A gimlet eyed view of what's going down in DC. Jiffy, you ain't gonna be happy when you read this. Not that I'm turnin' cartwheels my own self.
Bloomberg.com: Opinion

The author of that article can have his opinion, and maybe there is some truth to what he's saying, but I think things we'll get back to a new normal again...it's just going to take more time than normally.

I have a modified theory based on Newton's Law. The higher things go, the farther they fall.