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How Low Can It Go?

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Old 03-06-2009, 11:20 AM   #121
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Re: How Low Can It Go?

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Originally Posted by saden1 View Post
That was a rhetorical question, we actually do.



An economy built on consumption cannot withstand for long high unemployment. Once an economy collapses there is no quick fix, it takes years to start a successful business to re-employ the unemployment. Of course that all depends on investor confidence and the credit market, no one likes losing money and no one can start a successful business without being able to borrow.


The economy is organic, it can sustain damage, it can heal by itself, but I suspect applying an ointment, even if it's a placebo, is better than going all natural.
and mine was an answer in jest from a long lost commercial reference.
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Old 03-06-2009, 11:50 AM   #122
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Re: How Low Can It Go?

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No, I'm just Tom Daschle's chauffeur.


FYI, liberals embrace their liberalism with pride now. Much like the gays we done come out of the closet and flipped the script on all ya'll.
No kidding. Could you enlighten me as to why liberals feel the need to paste dozens of bumper stickers all over their cars spewing their beliefs? It's a huge pet peeve of mine.
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Old 03-06-2009, 11:56 AM   #123
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Re: How Low Can It Go?

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Originally Posted by Buster View Post
Can we please acknowledge that the economy was going great until the Democrats took over Congress?

You should. It's a fact.
No actually I won't. For 3 reasons:
1) Pres. Bush was still President, and could have and should have stood up to the Congress like Reagan did to the Speaker of the House (ONeal I think but I know they hated each other)
2) When it was a Rep. Congress and Rep Pres, they were still spending like drunken sailors who just got back from a 6 month tour of duty.
3) Like most "FACTS" presented as you have there is usually a whole lot of spin based off of some level of truth/fact.
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Old 03-06-2009, 12:09 PM   #124
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Re: How Low Can It Go?

i knew people were getting in houses they couldn't afford 5 years ago... i'm sure i'm not the only one, and i'm sure someone actually connected the dots to the bad investments before it exploded too.

the housing bubble was actually made worse by bush/congress wanting to lower interest rates and taxes that fueled rampant home buying on bad financing.

no one did anything to stop it, and thats on bush/congress/the bank lobbyists that all took part in letting it happen.
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Old 03-06-2009, 12:12 PM   #125
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Re: How Low Can It Go?

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Can we please acknowledge that the economy was going great until the Democrats took over Congress?

You should. It's a fact.
I'm a republican, but you can't deny that the 2004 (during a republican congress) Net-Capital rule change played a huge role in where we are now. This allowed the Big 5 investment banks like Bear-Stearn to leverage 40-1 with no oversight. Granted Christopher Cox was an idiot, but this SEC rule change happened with a republican congress on Bush's watch. They really thought "voluntary regulation" would work. Ooops.
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Old 03-06-2009, 12:14 PM   #126
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Re: How Low Can It Go?

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Originally Posted by GMScud View Post
No kidding. Could you enlighten me as to why liberals feel the need to paste dozens of bumper stickers all over their cars spewing their beliefs? It's a huge pet peeve of mine.
I am afraid we only notice what we want to notice. I to am haunted by fishes and angry white males stickers.
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Old 03-06-2009, 12:19 PM   #127
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Re: How Low Can It Go?

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Originally Posted by CRedskinsRule View Post
and mine was an answer in jest from a long lost commercial reference.
We're even.
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Old 03-06-2009, 12:22 PM   #128
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Re: How Low Can It Go?

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i knew people were getting in houses they couldn't afford 5 years ago... i'm sure i'm not the only one, and i'm sure someone actually connected the dots to the bad investments before it exploded too.

the housing bubble was actually made worse by bush/congress wanting to lower interest rates and taxes that fueled rampant home buying on bad financing.

no one did anything to stop it, and thats on bush/congress/the bank lobbyists that all took part in letting it happen.
Sorry Bush tried to get more regulation on home lending but Barney Frank and company had other ideas. The banks where forced by the goverment to give loans that where bad from the start. The reality is that it was a combination of all that got us in this mess and all should take equal blame.
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Old 03-06-2009, 12:25 PM   #129
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Re: How Low Can It Go?

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Originally Posted by over the mountain View Post
yeah, the say at times like these the rich get richer, the poorer get poorer.

Im losing aprrox. 4k every 3 mos on my 401k. given that i am hesitant to throw any of my non-401k savings into the market. i really just dont know what to do right now.

should i take my savings and invest in some cheap but well known producing stock?

should i buy a new home (tax & penalty free as 1st time home buyer) by clearing out my 401k just so i dont continue to lose 3-4k every quarter?

im feel kinda screwed right now. i could have bought a house with no money down like every one else and have the fed bail me out b/c i dont know how to live within my means. But no, i played it smart, saved up enough to put 10-25% down so i wouldnt over-extend myself. now my 401k has been chopped in half and i am not in a good position to buy a home . . all these people who had no business thinking they could afford a home but did anyway may very well get "bailed out" . . . while i saved up only to have my life savings cut in half and still dropping.

i say the dow doesnt drop below 5800, no way it can go lower than that i hope.

go skins!!
If your young you have time for your 401 to come back but I would have someone review what its invested in to make sure they are not so bad that they will never come back. You can choose some investments that give a guaranty on your money.
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Old 03-06-2009, 01:33 PM   #130
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Re: How Low Can It Go?

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We're even.
BUT I wanna win!!!!!
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Old 03-06-2009, 03:40 PM   #131
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Re: How Low Can It Go?

Evary time now I turn on the News they are talking about another one of Obama's new plans for America. I starting to think this ssaying could be my new slogan for him "Jack of all trades and the master of none".
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Old 03-06-2009, 04:05 PM   #132
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Re: How Low Can It Go?

A MoveOn.org Political Action ad plays the partisan blame game with the economic crisis, charging that John McCain’s friend and former economic adviser Phil Gramm “stripped safeguards that would have protected us.” The claim is bogus. Gramm’s legislation had broad bipartisan support and was signed into law by President Clinton. Moreover, the bill had nothing to do with causing the crisis, and economists – not to mention President Clinton – praise it for having softened the crisis.

A McCain-Palin ad, in turn, blames Democrats for the mess. The ad says that the crisis “didn’t have to happen,” because legislation McCain cosponsored would have tightened regulations on Fannie Mae and Freddie Mac. But, the ad says, Obama "was notably silent" while Democrats killed the bill. That’s oversimplified. Republicans, who controlled the Senate at the time, did not bring the bill forward for a vote. And it’s unclear how much the legislation would have helped, as McCain signed on just two months before the housing bubble popped.

In fact, there’s ample blame to go around. Experts have cited everyone from home buyers to Wall Street, mortgage brokers to Alan Greenspan.
taken from factcheck.org. plenty of blame to go around. lets get past that, and hope Pres. Obama, or someone, makes it right
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Old 03-06-2009, 04:21 PM   #133
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Re: How Low Can It Go?

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Originally Posted by dmek25 View Post
A MoveOn.org Political Action ad plays the partisan blame game with the economic crisis, charging that John McCain’s friend and former economic adviser Phil Gramm “stripped safeguards that would have protected us.” The claim is bogus. Gramm’s legislation had broad bipartisan support and was signed into law by President Clinton. Moreover, the bill had nothing to do with causing the crisis, and economists – not to mention President Clinton – praise it for having softened the crisis.

A McCain-Palin ad, in turn, blames Democrats for the mess. The ad says that the crisis “didn’t have to happen,” because legislation McCain cosponsored would have tightened regulations on Fannie Mae and Freddie Mac. But, the ad says, Obama "was notably silent" while Democrats killed the bill. That’s oversimplified. Republicans, who controlled the Senate at the time, did not bring the bill forward for a vote. And it’s unclear how much the legislation would have helped, as McCain signed on just two months before the housing bubble popped.

In fact, there’s ample blame to go around. Experts have cited everyone from home buyers to Wall Street, mortgage brokers to Alan Greenspan.
taken from factcheck.org. plenty of blame to go around. lets get past that, and hope Pres. Obama, or someone, makes it right
Good post.
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Old 03-06-2009, 04:22 PM   #134
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Re: How Low Can It Go?

Quote:
Originally Posted by over the mountain View Post
yeah, the say at times like these the rich get richer, the poorer get poorer.

Im losing aprrox. 4k every 3 mos on my 401k. given that i am hesitant to throw any of my non-401k savings into the market. i really just dont know what to do right now.

should i take my savings and invest in some cheap but well known producing stock?

should i buy a new home (tax & penalty free as 1st time home buyer) by clearing out my 401k just so i dont continue to lose 3-4k every quarter?

im feel kinda screwed right now. i could have bought a house with no money down like every one else and have the fed bail me out b/c i dont know how to live within my means. But no, i played it smart, saved up enough to put 10-25% down so i wouldnt over-extend myself. now my 401k has been chopped in half and i am not in a good position to buy a home . . all these people who had no business thinking they could afford a home but did anyway may very well get "bailed out" . . . while i saved up only to have my life savings cut in half and still dropping.

i say the dow doesnt drop below 5800, no way it can go lower than that i hope.

go skins!!
i just started a foliofn account... you can use it for retirement accounts or disposable cash, but its like a super low fee mutual fund where you choose your own stocks (or you can leave retirement money as straight cash in there)... they have pre-made investment strategies that including bear market funds (which are short sale stocks that go up when the market goes down, and go down when the market goes up)...

the fact that you can trade in and out of positions without having to take tax hits or rollover paperwork or whatever is nice though.

of course, trading inside your retirement account without research or whatnot isn't necessarily a good idea, but being able to pick individual stocks instead of mutual funds has saved me some money during the downturn.
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Old 03-06-2009, 07:48 PM   #135
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Re: How Low Can It Go?

Quote:
Originally Posted by dmek25 View Post
A MoveOn.org Political Action ad plays the partisan blame game with the economic crisis, charging that John McCain’s friend and former economic adviser Phil Gramm “stripped safeguards that would have protected us.” The claim is bogus. Gramm’s legislation had broad bipartisan support and was signed into law by President Clinton. Moreover, the bill had nothing to do with causing the crisis, and economists – not to mention President Clinton – praise it for having softened the crisis.

A McCain-Palin ad, in turn, blames Democrats for the mess. The ad says that the crisis “didn’t have to happen,” because legislation McCain cosponsored would have tightened regulations on Fannie Mae and Freddie Mac. But, the ad says, Obama "was notably silent" while Democrats killed the bill. That’s oversimplified. Republicans, who controlled the Senate at the time, did not bring the bill forward for a vote. And it’s unclear how much the legislation would have helped, as McCain signed on just two months before the housing bubble popped.

In fact, there’s ample blame to go around. Experts have cited everyone from home buyers to Wall Street, mortgage brokers to Alan Greenspan.
taken from factcheck.org. plenty of blame to go around. lets get past that, and hope Pres. Obama, or someone, makes it right
Hey we agree on something. Whats done is done and pointing fingers will not help but we are all pretty guilty of doing that and its too much fun to stop now. Its not like we will post something here that will have any affect on anything.
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