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57 Comments
- EMFK, on 04/19/2009, -2/+22Shaking it off and hoping for a better 2009. Remaining as optimistic as I can.
- unknownpoltroon, on 04/20/2009, -0/+15Wanna bet 2009 will be worse? I am.
- AngustheCat, on 04/20/2009, -0/+11"From $645 billion in profits in 2007, profits dropped this year to just $98.9 billion - an 84.7 percent decline! "
I think it might be time to go hide out in grad school for a while.... - ruarctb, on 04/20/2009, -0/+9Doesn't matter if you can't get a job.
- michaelpinto, on 04/20/2009, -3/+12On the other hand this could be the invest opportunity of a lifetime...
- ftoro, on 04/20/2009, -0/+6It would be interesting to have a side by side comparison that also includes how much the executives made.
- dazparkour, on 04/20/2009, -0/+5Yes and if you ignored the companies that did well, it would also make the graph look different - the point is, this graph is supposed to include them and does.
- traveler1217, on 04/20/2009, -0/+4Including a FOX news douchebag who claimed that speculation of an Obama election victory spooked the markets into tanking.
- Richandler, on 04/20/2009, -1/+5This number might get higher because of the bailouts but we'll see.
- dazparkour, on 04/20/2009, -0/+3If it's a fortune 500 list - AIG should be on it. There's no getting rid of people you don't like because of bailout money to change how the graph looks.
Now, whether or not AIG should still be in the fortune 500 list is another story. - yunus, on 04/20/2009, -3/+6That 84.7% decline is misleading. When companies like AIG post losses that are larger than the company is worth it skews the chart. Drop the companies that got bailout money and the chart would look much different.
- dshPls, on 04/20/2009, -0/+3Totally, as a 21 year old dude I dropped 5k into a brokerage account(all my "fun cash" that I'd been saving) at the beginning of the year. I'm hoping to forget about it until I'm old and it's value has grown astronomically. In reality I'll probably sell everything in 5 years to buy a new car :(
- byronm, on 04/20/2009, -2/+5Of course its news, i know a zillion righties who blame this on Obama being president even though he wan't president in 08.
- NorthMass, on 04/20/2009, -1/+4Maybe Wal-Mart could show more profits for a year, but most of these companies will continue to topple. 70% of our economy is based upon consuming, and as more people lose jobs, that means there is less people consuming. It is a domino effect that will not end for years until we have government unemployment numbers 15%+.
- NorthMass, on 04/20/2009, -2/+4"@Norhtmass. If you are determined to have depression go right ahead. I am not participating. I have a higher degree and more business experience than the crazy Dr. you worship. No , he is rarely correct! I was in retail years, so please don't tell me about the retail sector. Dr Nut has been predicting this ***** since 1988"
None of this post addresses the fact that 70% of our economy is consumption and as more and more jobs get cut, consumption will continue to fall, creating a domino effect. - Elranzer, on 04/20/2009, -0/+1Seriously. We've turned into a so-called "service-based economy" and we're off-shoring the service jobs to India and China?!
Anyone see a problem with this?? - yunus, on 04/20/2009, -0/+1Going further into deferred debt is going to help the situation. Join the military, find contractor work, take a low paying job. Jobs are out there but you can't be picky about them.
- unknownpoltroon, on 04/22/2009, -0/+1Im here to help.
- enicholas, on 04/20/2009, -0/+1@ruarctb -- Why does everyone seem to believe that the only way to make money is by working for someone else? Hopefully we'll see a lot more entrepreneurs coming out of this market; you want to be one of them, instead of the guy sitting on his butt waiting for the economy to improve.
- Elranzer, on 04/20/2009, -0/+1Too bad I have nothing to invest with...
- NorthMass, on 04/20/2009, -0/+1If I were you I would take that out and invest in precious metals or foreign stocks. Seriosuly, bro.
- MakanGuru, on 04/20/2009, -0/+1Duh?
This is news? - yunus, on 04/20/2009, -1/+2No way, its a great time to go out and get started on your life after college. Housing is cheaper than it has been for decades.
- themadrammer, on 08/18/2009, -0/+1Picking up more debt during a recession is a bad move.
- inactive, on 04/20/2009, -4/+5American companies need to stop outsourcing jobs to Asia and hiding their money in Switzerland.
- NorthMass, on 04/20/2009, -0/+1Obama voted for the bailouts. He deserves blame, just like McCain deserves blame.
- whorunbartertwn, on 04/20/2009, -0/+1I hope that false hop in January didn't get you.
It sucks I rebalanced at the beginning of the year so bought equities right when the briefly DOW shot up to 9k. Right afterwards of course it tumbled under 7k. :( - whorunbartertwn, on 04/20/2009, -0/+1Heh I saw the title and was thinking in the first five comments there will certainly be the standard digg reply where someone says the worst is yet to come without giving any explanation or logic behind it.
Thought I was wrong but unknown saved me at #5. Nice. - dshPls, on 04/20/2009, -0/+1I'm not sure about that one... I'm counting on American companies and the more people who are fearful like you are right now the better returns I'll get.
- NorthMass, on 04/20/2009, -3/+4Dr. Paul is right, that is why I listen to him. It doesn't mean I blindly agree with everything he says, I disagree with him on the issue of illegal immigration, but I fail to see how our economy will improve when our economy is basically a house of cards that has begun toppling.
When more and more people lose their jobs, there is less consuming. Since 70% of our economy is based upon consumption, this will cause more and more retail jobs to be cut because retail companies will continue to do worse and worse. Then those people who lose their retail jobs won't be consuming as much, and the domino effect continues. - dshPls, on 04/20/2009, -0/+1It did to an extent, I tried to play it smart and buy my stocks over the course of 2 months(still too fast for many people) and I felt some pain as things went downward for awhile to 6.8k. These fluctuations are hopefully just effecting short term people.
- Wulfgang, on 04/21/2009, -0/+1And yet, almost paradoxically, Goldman Sachs seems to be doing quite well.
Excellent forecasting or excellent connections? - richmomz, on 04/20/2009, -0/+1They could also lose their asses investing in these companies - just like those people that jumped into the financial stocks after they lost half their value assuming that they couldn't go any lower... then watched them drop another 90% or go bankrupt entirely.
- NorthMass, on 04/20/2009, -0/+1The problem is our economy is 70% consumption, and as more people lose jobs, there will be less consuming. So it is a domino effect that will cause mass unemployment over time, and add in a good dose of inflation through all of this deficit spending, and we are not in for good times.
Read about Peter Schiff, he addresses these issues point on. - dshPls, on 04/20/2009, -0/+1Yes I've read you say that a couple times now. I'm betting against that and while it seems plausible I'm not convinced. Of course job loss effects spending but I have faith that we'll pull through this. Faith being the key word there. Unless you presented me with some more info I'm inclined to stick to my current plan, I've already made some good returns on AAPL(bought at $80, now $120) CCE(bought at $12, was $16 today!) and NVDA(bought at $7.25, now $11-12). Of course I have some ***** like GE :)
- NorthMass, on 04/20/2009, -0/+1Being realistic is better than being optimistic or pessimistic. It will only get worse.
- NoLibertarians, on 04/20/2009, -2/+2It is too me and you, but not the people who spend their lives looking fir every negative story they can find. It gives them something to blame their failures on.
- rollin03, on 04/20/2009, -1/+0Thank you government philosophy and Federal Reserve.
- NorthMass, on 04/20/2009, -1/+1Bush accounts for maybe 10% of this. Scapegoating Bush for everything does not accomplish anything except deflect blame from other politicians to him.
- bipolarruledout, on 04/20/2009, -1/+1Right. I'm SURE that's the reason.
- porcile, on 04/20/2009, -0/+0I've grown my home based business by 100% in the last 2 years. From 250k to 500k. No recession in our business, better said, its WHITE HOT!
Our business grows in recession cause everybody want to: Go Green, Make Green and Save Green. Build a lucrative business, that can pay you residual, for the rest of your life. http://bit.ly/riGnK - inactive, on 04/21/2009, -0/+02008: The icing on the "cake" of Republican FAILURE!
Are Republicans good on economic issues? Well...
Check the CNBC web page that gives a breakdown for the SEVEN TRILLION DOLLARS dollars that was pumped out (through November 2008, and under Bush’s “watch”) to try to continue to prop up the U.S. economy. By then, our economy was in a shambles that was brought on in large part by years of GOP-led deregulation of financial markets, and by Bush simply looking the other way as the plundering continued.
So... Republicans still call others big spenders? That idea is completely laughable. Under Bush, the GOP harmed America’s economy worse than has even been done by any other administration. Again... that’s over seven trillion dollars ($7,000,000,000,000.00) given/pledged/lent to bankers, brokers, and AIG, and to buy up nearly worthless “commercial paper” at taxpayers’ expense – under Republican “leadership.”
You can find the CNBC web page by doing a Google search on "cnbc 7 trillion".
And, please help spread the word about BUSH'S SEVEN TRILLION! - richmomz, on 04/20/2009, -1/+1NoLiberties - "Your 15% unemployment rate prediction is insane. "
YOU are insane - the official unemployment rate is 9% now, and if you include people that have been looking for work past their unemployment eligibility (which is becoming quite a large number), and people working part-time or on a contract basis while they search for a real job, unemployment is ALREADY at or over 15%.
And of course people are "still hiring" - the problem which you fail to grasp is that a lot more are being fired than hired currently. - atruskot, on 04/20/2009, -7/+7"2008 "Worst Year" In Fortune 500 History"
"15 women ran Fortune 500 companies in 2008m an all-time high. "
Found the problem. - rmiraflores, on 04/21/2009, -0/+0This is actually a good opportunity to earn more. People will eventually turn to alcoholic beverages or go for wellness and self-development so they can recover from this recession.
- glitchbit, on 04/20/2009, -2/+1More interesting to see how the big 3 oil companies practically made $1 Trillion in profits... while not a single US company can compare. It would take 5 of our top companies to match those 3.
Also if I were I would be more concerned with how the government is spending Trillions, and Billions of dollars that we do not have rather than how many millions a CEO is making. They didn't force us tax payers to give them money, the government forced us tax payers to pay for them even though everyone was overwhelmingly against it. But it seems politics have gotten in the way, considering the bias news coverage of the Tea Parties. - inactive, on 04/20/2009, -1/+0The missing drunk skank is sleeping with the fishes
- moneymanager007, on 04/20/2009, -4/+3all bunch of *****
- yunus, on 04/20/2009, -2/+1If AIG is worth 60 billion and loses 99 billion and is still on the chart that makes a whole lot of sense doesn't it. There value is -39 billion but there still one of the fortune 500, thats logic for ya.
My point is government bailouts skew the numbers. Exxon is clearly the largest company and their profits prove it. AIG shouldn't be on the list. -
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