Market crash: are we there yet ?

wind_magic · #1 (**permalink**) 08-09-2007

This is the first thread I've started on the off topic forum just to start an argument, so I thought I would make it a fun topic that a lot of people are interested in. So the topic is simply ... market crash, are we there yet ? Since this bull turned into a bubble over 10 years ago it has killed nearly every Bear on Wall Street, there just aren't any left to call this thing for what it is anymore. And I'd love to hear what you all think about it.

Sapperwhite · #2 (**permalink**) 08-09-2007

yes.
The tech bubble-burst was saved by real estate, Greenspan holding interest, and pressing questionable home sales tactics. Now that bubble is bursting in a BIG way and everyone is cashing out. 14million questionable mortgages where issued to people that had no way of paying them off. In the next year about 7 mil homes will be foreclosed on as these idiotic ARMS start going higher. Bernanke doesn't know WTF he is doing, so he can't step in and pull a Greenspan to save this thing....

So many bad mortgages out there..... there are even mortgage companies out there that spell mortgage "morgage".....WTF.....those are the lenders?!

Long story short, I hope you like eating rat roasted over a 50 gallon drum fire, and wrapping leaves around your feet in lieu of shoes.

SanderO · #3 (**permalink**) 08-09-2007

The market seems to be a series of bubbles and essentially a ponzi scheme. Once enough of the players get spooked they all see that the emperor has no clothes and like a flock or birds they all head off together following no one.

Real estate is such an great example of an illusion. When demand whithers the entire value gets sucked away. And demand was there because of speculation and the idea that it was appreciating in value at such a high rate you simply couldn't lose.

It looks like the stock market will once again unravel only to be stood back up again in a few years time... maybe.

Now we have a global economy.. ya know the flat earth thing that Tom Friedman is famous for. This makes things more complicated. The Chinese might try to protect their USA paper/investments... the hope of the banks and the Feds... their addicted to our consumption too. But they might get snippy and pull a few punches and kick some wall street tycoons to the gutter. The may be addicted to our spending... but Americans are addicted to the cushy life and easy credit.

it's gonna get nasty.

Make sure your ready to cast off your dock lines.

jef
sv shva

uspirate · #4 (**permalink**) 08-10-2007

we have one of the highest foreclosure rates here in vegas. over 24000 homes for sale. glad we sold when we did. Nimfy wants outta vegas ASAP. my stocks took a dive to almost the price i purchased them for but i'm not too disappointed yet.

sailaway21 · #5 (**permalink**) 08-10-2007

Horse-pucky. Dow Jones clears 15,000 before years end-you read it here first!

Sapperwhite · #6 (**permalink**) 08-10-2007

Quote:

Originally Posted by uspirate

Nimfy wants outta vegas ASAP.

Where ever you go, don't go to Colorado.....they are in deep deep doo doo

danjarch · #7 (**permalink**) 08-10-2007

There could be good times a coming. Now that we're opening up to more competition and seeing falling demand, you might start to see some of these overpaid CEOs get the boot. You can only layoff so many employees and if your quality goes to crap, you'll lose out to your competitors. Only thing left to scrap is the overpaid managers who keep loaning their selves the company till.

Sapperwhite · #8 (**permalink**) 08-10-2007

Don't know if you guys watch that nut Cramer on Mad Money, but this is a pretty good video of him losing it regarding this subject.

http://www.youtube.com/watch?v=qC3YO...elated&search=

uspirate · #9 (**permalink**) 08-10-2007

Quote:

Originally Posted by danjarch

There could be good times a coming. Now that we're opening up to more competition and seeing falling demand, you might start to see some of these overpaid CEOs get the boot. You can only layoff so many employees and if your quality goes to crap, you'll lose out to your competitors. Only thing left to scrap is the overpaid managers who keep loaning their selves the company till.

reminds me of the last company i worked for 7 CEO's in charge of 7 employees. what a friggen joke. and that jokes name is "station casinos"!
edit: oh yeah ,i fortgot to mention. they were always trying to find ways to cut cost. first they were not willing to pay $ 200 for some critical software needed to run our department. since we didnt have the software we couldnt perform as demanded so the they decided to cancel our internet service we used to perform those duties. i said screw it after that. and remember this is a multimillion dollar operation. ever see the reality show "las vegas casino"?

tdw · #10 (**permalink**) 08-10-2007

Quote:

Originally Posted by Sapperwhite

Don't know if you guys watch that nut Cramer on Mad Money, but this is a pretty good video of him losing it regarding this subject.

http://www.youtube.com/watch?v=qC3YO...elated&search=

Pretty amazing television really. Mind you I think he was on the money. Saw him on Daily Show last evening, good interview. His concern is with those who are REALLY going to hurt not with a few whining billionaires down to their last couple of billion.