Market crash: are we there yet ?

[sailhog]

The stock market was at 10,500 in January of 2001, and it's at 11,800 -- a 1,300 point gain in eight years. I think G.W. Bush's presidency is evidence of what I've heard called "the Elvis Theory of Economics," which suggests that if you give business too much of what it wants, it ends up with its bloated ass on the toilet, and its drug-addled pate choking on vomit-saturated shag carpeting.

[Cruisingdad]

More pain ahead for banks, car makers, consumers - Jun. 26, 2008

Ouch.

360 drop today. close at 11,45x. And the fed is stuck on the sidelines, darned if they do, darned if they dont.

"There be storm clouds ahead, Cap'n! Cap'n?? Anybody seen the Cap'n? Who's steering the ship!???"

- CD

[Freesail99]

I have a lot of money invest in the S&P, ouch, ouch, ouch.

[wind_magic]

They were really out buying cash today.

[wind_magic]

So ... back to the original question ... are we there yet ?

[SailorMitch]

Originally Posted by sailhog

The stock market was at 10,500 in January of 2001, and it's at 11,800 -- a 1,300 point gain in eight years. I think G.W. Bush's presidency is evidence of what I've heard called "the Elvis Theory of Economics," which suggests that if you give business too much of what it wants, it ends up with its bloated ass on the toilet, and its drug-addled pate choking on vomit-saturated shag carpeting.

that's an anemic 12.4 percent increase in 8 years. I could get that return in a passbook savings account.

besides, chances are it's going lower. a financial guy in the post today wrote that his wall st contacts hope that 11,000 will be the bottom. and with inflation rising the fed's options are not good ones--likely will have to raise rates next time. recession in full swing just in time for the Nov. election????

[sailhog]

Rick505 should be showing up shortly. I think his dire predictions of a few months ago might be realized... at least to some degree. This credit problem is about ten times worse than I ever thought it would be. Consumer credit is about to pass a kidney stone.

[BigAssHam]

We are headed towards economic armaggedon. The federal govt's debt is now $9.3 TRILLION and the unfunded liability for social security is $52 TRILLION. Socialized medicine will forced on us after the next election. Medicare/Medicaid is already in the red. There is no way to grow ourselves out of this mess. Remember, it's not as if the politicians plan won't work - THEY HAVE NO PLAN. They are completely ignoring the problem.

It's all good though. We can have another revolution and those of us that favor individual freedom over the 'collective' can go set up camp somewhere and start a new society. The collectivists can fight over the scraps....

[Cruisingdad]

Good news everyone. Market only fell 107 points today. I feel better. I was beginning to get worried!

- CD

[sailhog]

Let's have some fun picking a bottom for the Dow.

I'm going to say 10,700.