What is Digg?Sponsored by Travelzoo
Take Advantage of Ridiculously Low Holiday Airfares view!
travelzoo.com - Flights $52 and up for Thanksgiving, Christmas & New Year. But move on it now.
355 Comments
- RaysinX, on 11/20/2008, -5/+88I have a doctorate in digg economics...
(to obtain this degree you must post your random thoughts on the economy with at least a 4th grade education and have seen multiple youtube videos about how our system is going to hell) - Trekhawk, on 11/20/2008, -4/+82The real scary thing is that the DOW was pretty steady up till the mid-1980s. Then you see this exponential curve during the late 1990s. I'm not an economist, but is it unreasonable to think this will only continue till the fake growth is weeded out and the DOW plateaus at the "real" level?
http://finance.google.com/finance?client=ob&q=INDE ... - tee349, on 11/20/2008, -6/+81We need to invest in bacon.
- TheSabre, on 11/20/2008, -0/+45You forgot the prerequisite of having only lived through one, MAYBE two presidential administrations.
- CsHitman, on 11/20/2008, -3/+43The DOW is not over 9000!!
- borez, on 11/20/2008, -0/+38Well.. what did they expect to happen?
- inactive, on 11/20/2008, -6/+42Yawn. Time to buy yet?
- threemagic, on 11/20/2008, -2/+34I predict your comment will fall farther than the dow...
- Mpwns, on 11/20/2008, -2/+33Ive been into the market a few years now never investing though. all i can say is be ready, the worse is yet to come. less jobs means less spending that all leads to less taxes collected. after the big 3 its gonna be retail begging. we have no were to go but down if we keep bailing them out. bailouts did not work in the first depression and they are not working now.
- chuckDontSurf, on 11/20/2008, -2/+28I didn't support the bailout, but just to clarify: the purpose of the bailout was not to support the stock markets or cause them to rise. It was intended to free up credit markets. The stock market != the economy.
- ricoboy24, on 11/20/2008, -14/+40Thats cute. Thank you to all those who supported the bail out.
- whorunbartertwn, on 11/20/2008, -3/+26PhD in digg economics:
1. Blame Bush
2. Advise everyone to buy gold
3. Claim Ron Paul predicted all this
4. Note that credit is evil
5. Predict it's only going to get worse - MeatMountain, on 11/20/2008, -4/+26MISSION ACCOMPLISHED
- oboshoe, on 11/20/2008, -6/+26Yes. Because the most important thing is that Obama looks good.
- inactive, on 11/20/2008, -1/+19Invest now before it recovers. Don't miss the boat because you're scared! :)
Unless you're within 5 years of retirement... then you're kinda *****. - Magnolit, on 11/20/2008, -4/+19http://letmegooglethatforyou.com/?q=M3+money+suppl ...
- inactive, on 11/20/2008, -6/+21Well, there is a good chance the economy will make a comeback before his four years are up, and we will all praise him for his great job and reward him with another four years in which the economy will tank and a republican will become president. And repeat.
- dext3r, on 11/20/2008, -0/+14banks were given the money to distribute to credit markets, but they aren't now. everything is ***** and the stupid treasury guy cant make up his mind what to do. *ive been up for 24+ hours so this comment sounds like im retarded*
- enantiodromia, on 11/20/2008, -0/+14"Be scared when others are greedy. Be greedy when others are scared" -Warren Buffet
- LMN8R, on 11/20/2008, -12/+26It's funny, I've already seen right-wing nutjob "Americans" laughing at how the economy is failing, because through some incredible leap of logic they can blame it on Obama.
Laughing at their country's failing economy - not very patriotic for the same people who originally attacked Obama, questioning his patriotism.
[/irrelevant rant] - brad3378, on 11/20/2008, -0/+13It just seems like it, but it's legit:
http://finance.google.com/finance?q=INDEXDJX:.DJI
However, one more day like today, and we'll be at our 10 year low. - michelebot, on 11/20/2008, -4/+17Based on what I saw, Clinton HAD changed things. The economy was going strong, the deficit was gone, and people were employed. If he hadn't collided with a sexually neurotic society, we wouldn't have elected a guy who ran two companies into the ground before he did it to the U.S.
- natenovs, on 11/20/2008, -1/+14below 9000!!!
- angryfirelord, on 11/20/2008, -1/+13Pork bellies are up by $3.
http://money.cnn.com/data/commodities/ - tawnos, on 11/20/2008, -5/+17Buy ENRON shares.
- honthraj, on 11/20/2008, -1/+13As I recall, Clinton did balance the budget to the point that the US Government had a surplus.
- hollismb, on 11/20/2008, -0/+12You ate your fortune? You're supposed to eat the cookie, dumbass. ;)
- jftitan, on 11/20/2008, -0/+12So, ummm was George Carlin right? Right after 9/11 happened what did the whole American Economy say? "if you don't spend money, the Terrorists win", because if we stopped spending after the attacks the economy would be hurting. So financial institutions started selling ***** with Zero APR, etc. I remember this well, because I have two neighbors who bought cars right after 9/11 with zero interest rates. One neighbor went way overboard, and bought two cars, and pulled out some bad idea loans.
Now those friend are facing financial ruin. So does that mean the terrorists won?
I hate to be reminded of this, but when I listen to all the saved comedians that made talking points during the early 01 - 04 years, I can't help but think. How right those comedians are. - inactive, on 11/20/2008, -1/+13Right because if the banks failed, the DOW would be at 15000 by now. Thanks genius.
- enantiodromia, on 11/20/2008, -0/+12and Bush who owned 2 entire branches of the federal government for 6 years had NO power to do anything about it!
they tried and tried, but they couldn't figure out clintons secret password that would have allowed them access to the secret network of computers the GOP is not allowed to use.
then, there was the lock box... - Panoptes, on 11/20/2008, -1/+12If you ignore the anomally in the DJIA over the past 2 decades, it looks like it should be around 2000.
- inactive, on 11/20/2008, -0/+11Lets just say I work for a large financial institution. The belief that the cash provided to banks has been or will be pumped into the credit markets is false. It's being held onto.
- oboshoe, on 11/20/2008, -2/+13DUGG for accuracy!
- d03boy, on 11/20/2008, -0/+10My fortune I just ate literally says: "Don't worry about the stock market. Invest in family."
- inactive, on 11/20/2008, -11/+20It really stinks that Obama will be taking over with such a down economy. What is even worse is that the fruits of his efforts will not be felt during his administration.
- oboshoe, on 11/20/2008, -5/+14Stock market basics 101 here:
Q1: Are they *ANY* stock market traders that are not aware that Obama will be President on January 20th?
The Obama Presidency is no secret to anyone.
Markets react to all information as soon as its known. Folks. this is not looking good. - inactive, on 11/20/2008, -3/+12Wow, does being that stupid physically hurt?
Democrats are significantly better for our economy... GDP, unemployment, growth... all better under democrats. You can lie, the numbers don't.
http://www.slate.com/id/2199810/ - inactive, on 11/20/2008, -8/+17Don't forget a dissertation (read: a tldr post) about how the "CFRILLUMINATIFEDERALRESRVE" is the greatest evil in the world and responsible for bad dreams and drowning puppies.
- chanop, on 11/20/2008, -0/+9I love how you guys just skip over the republican controlled parts. Republican presidents, republican controlled congress/senate.... IT'S BOTH SIDES FAULT!
- chuckDontSurf, on 11/20/2008, -1/+9You that the economy is not under the control of a single person, right? Just as Bush isn't solely responsible for the state of the economy today, Obama will not be solely responsible for the state of the economy four years from now.
- krnldmp, on 11/20/2008, -1/+9Paulson is a *****. The Federal Reserve was supposed to eliminate the "once or twice a millennia" economic meltdown, or did they neglect to explain that at his school? Perhaps he should then explain what the hell "The Fed" is for if it no longer regulates and secures the economy.
http://news.yahoo.com/s/ap/20081120/ap_on_bi_ge/pa ... - inactive, on 11/20/2008, -0/+8The economy will eventually bounce back despite almost anything. It's a question of when, and how much.
- enantiodromia, on 11/20/2008, -0/+8I just started a new job. I don't start for two months tho.
I guess whatever fails because the guy before me didn't know what he was doing is already my fault. :( - inactive, on 11/20/2008, -5/+13It's ridiculous. I was listening to Sean Hannity on the radio the other night (I do this sometimes when I am actively seeking someone to focus my hate on) and he was laying the economy solely on Obama's shoulders. What an idiot prick.
- bjornski, on 11/20/2008, -0/+8Well, it makes sense.
The same people blaming Obama for the current economic situation are the ones that still blame Clinton for the 9/11 attack that happened 9 months into Bush's term. - covertbadger, on 11/20/2008, -3/+11Now take that google chart, view as much history as possible, and switch to logarithmic view from the settings tab. Does it look so extreme now? Nope, didn't think so. Linear view is unrealistic over the long term, as a 10% rise in 1970 would be about 80 points, and a 10% rise in 1997 would be about 1300 points, so the same percentage rise looks more extreme over time. Switch to logarithmic and that is correctly adjusted for.
- FriedTurkey, on 11/20/2008, -1/+8Obama isn't even in office and the right is already blaming the economy on him. Nice. I think somebody 's economy policy might be to blame. Maybe the guy spending billions in Iraq and magnifying the national debt wasn't a good plan?
- natenovs, on 11/20/2008, -1/+8@oboshoe - from what ive been reading, the economy's current collapse is all McCain and the RETHUGLICANS fault !!111!!
- angryfirelord, on 11/20/2008, -2/+9Well of course. Did you really believe the analysts who said that it would just go up forever? People are withdrawing money from the markets, so now we're finally recovering from the inflatioary periods since the dot-com bubble.
We've seem to hit or are close to a temporoary bottom. The line of resistance is in the 2002-2003 range, so we may see the Dow bouncing around a few hundred points over the next few months or so. Oil is going to head to $200 a barrel soon since the MACD is starting towards a positive trend again, so any stock that deals with energy and metals are going to be good buys for the next year or two. (like SPH)
The thing I fear is that if the Elliot Wave Theory holds true, the Dow could potentially slump into the 2000 point range as the recession gets worse. From the beginning to the end of the Great Depression, the Dow went from 300-something to 43 points, so a large drop is possible if the economy continues to rot away, especially if hyperinflation eats us alive. :-( - inactive, on 11/20/2008, -3/+10All I know is that personally, I just had to put a stop to my buying bargain stocks. There are too many out there that will be so lucrative 5 years from now.
The bottom isn't in yet, but you can't always buy at the very lowest. Go ahead and scream doom, while I happily buy low. -
Show 51 - 100 of 363 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is