What is Digg?143 Comments
- JoshuaLowe, on 03/27/2008, -3/+37Well, I'll sleep better knowing that our government has plenty of cash to give to investment banks when their bad decisions catch up with them. After all, it's just taxpayer money. Those Bear Sterns guys have yachts to worry about.
- caleb4mj, on 03/27/2008, -2/+16I don't know, looks like it might be a good time to invest, IMHO.
- frogman54, on 03/27/2008, -1/+11The title confused me. Funk in the 70's was awesome.
- chanop, on 03/27/2008, -2/+11That's why I only invest in the SOCK market,
Hanes
Fruit of the Loom
walmart socks
black socks
white socks - pintomp3, on 03/27/2008, -0/+8privatize the profits, socialize the losses. the worst of both worlds, hooray!
- JoshuaLowe, on 03/27/2008, -1/+7And the fact is they didn't deserve ***** for a bailout. The fact the people who levered themselves so far into Bear without bothering to consider the fact that Bear was badly exposed are no less irresponsible than the people who signed on for $700k ARMs on $50k income in the first place. It's not the government's job to reward your bad behavior.
- Yez70, on 03/27/2008, -0/+6You could say the same thing about the current state of music...
- Sogui, on 03/27/2008, -0/+5Basically it's saying BUY NOW, it won't get this cheap for another 30 years. (Actually prime buying would be 2001-2003)
- DangerCollie, on 03/27/2008, -0/+5This is just the warm up act. For a good insight to the real depth of the problem, read this:
http://www.cnn.com/2008/US/03/26/beck.deficit/inde ...
I thought I was being paranoid for a long time, thinking in the back of my mind we might finally have reached the tipping point. Not so sure it's all that paranoid now. - Namakemono, on 03/27/2008, -4/+9Hey, I have an idea! How about we borrow money from China to get us out of this funk? Oh, wait...
- inactive, on 03/27/2008, -1/+6"The same thing happened in the 1980s with the savings and loan crisis."
Which is the last time the far right's stupid economic policies were used. Anyone see a pattern? - stonklit, on 03/27/2008, -3/+8Go armchair economists GO!
I love reading these comments whenever there's a story about our economy. So many people who think they know what they're talking about because they took Economics in high school, or are currently in Econ 101 and their professor told them his opinion on something that they took as gospel.
Trust me, half of you people have no ***** idea what you're talking about. Just ***** you hear other people say, think is true, then repeat. - cledford, on 03/27/2008, -1/+6***** goin' down.
- DaDrake, on 03/27/2008, -3/+7Why do people keep blaming the president? Sorry, but the current problems are the fault of irresponsible lenders getting too ***** greedy. Then banks start to panic, they stop loaning, and it hurts new small businesses, new homeowners, and the ability for corporations to buy insurance (to expand). In reality, the congress has more control over the economy then the President (they approve the budget) and their influence is rather small.
Its funny.... statistically you should get a recession once every decade. When it happens, everyone blames the president. Also notice how the president never gets credit for a strong market. - usingpond, on 03/27/2008, -1/+5As a Republican, I am obliged to inform you that this is a fabrication. So is the difficulty in Iraq. So is everything else "educated" people tell you about "facts" and "overwhelming evidence". Everything is fine, vote Republican in '08!
- BionicPimp, on 03/27/2008, -0/+4hold on...the Bear Sterns (BS) corporate officers made out like bandits...the BS shareholders got boned. this includes all sorts of people. union pension funds, IRA's, 401k's, etc...plus the govt. took a huge chunk of the "non-performing" loans off of BS in exchange for money. The trick is that even during the worst of times, not all of those loans are going to go bad, but they are treated as if they were all bad. There are plenty of guys that made a killing during the last real estate crash just by buying up the "bad loans" for pennies on the dollar. Most likely it will actually cost the tax-payers less than the amount of the cash infusion. Then there is the punchline for this capitalistic joke...if BS was allowed to fail...in this economic climate...it would have triggered a global economic depression. If BS failed...then anyone who was using BS to underwrite deals would immediately halt their deals. Other banks, not knowing who BS was underwriting, would immediatly stop issuing credit. stock market crashes. businesses freezup, etc...That is the ultimate "cutting off your nose to spite your face" move.
- bananasplit1586, on 03/27/2008, -0/+4heh..could be. its what they are doing in Africa at the moment!
- bjornski, on 03/27/2008, -0/+4Aah, when yet another Bush was plundering the system.
Right, Neil? - inactive, on 03/27/2008, -0/+4Which Congress person signed the bailout into law?
- bernandoo, on 03/27/2008, -0/+4The S&P is trading at 13 P/E... not 20. Which is well below the historical average.
- carrtoonist, on 03/27/2008, -0/+4New socks is like a whole week of reasons to get up in the morning.
- d03boy, on 03/27/2008, -1/+5if you have tons of cash lying around then it may seem made up.. but for most of us, it isn't
- opticwind, on 03/27/2008, -0/+4Hold on, the stock market was at record highs and sales for the last few years, we are just NOW going down.
- duderdude, on 03/27/2008, -0/+3Of course, if you look at how the market has done in the past 12 years, or the past 7 years, we're doing great, but don't let that impede on this article that cherry-picked it's starting date as the height of the tech bubble.
- craighoxton, on 03/27/2008, -0/+3You may joke about it but I bet that's what happens - China steps in and buys the US
- Look4Truth, on 03/27/2008, -0/+3Oh really?
http://quotes.ino.com/chart/?s=NYBOT_DX&v=dmax
Every dollar you have invested is worth a lot less, how is that a good thing? Also, if things are so good, how do you explain the following...
http://money.cnn.com/2008/03/25/pf/soc_sec_trustee ... - hydroplane, on 03/27/2008, -0/+3Paint the white house black.
- insanebrain, on 03/27/2008, -2/+5troubles are over ?? don't kid yourself. .. the ***** hasn't even begun.
- Picer, on 03/27/2008, -0/+3The other banks still may have more unannounced lending issues, though the fact that I see loan/insurance/Mortagage Ads on cartoon network shows how they are yearning for us to get into debt.
- marksism, on 03/27/2008, -1/+4Red Sox?
- Pinkertinkle, on 03/27/2008, -0/+3"But that rule hasn't held up for stocks bought in the late 1990s or 2000."
Yeah cause that was the height of the dot com boom. - inactive, on 03/27/2008, -1/+4The solution is obvious: tax cuts for Paris Hilton.
- cambob76, on 03/27/2008, -2/+5Huge differences between now and the 30s and 70s are 1. current and near-future environmental disasters, 2. the size of the human population, and 3. the fact that we cannot make enough energy for everyone at a cheap price to sustain our standard of living. I doubt very much that things will play out just like they did in the past.
- andy314159pi, on 03/27/2008, -1/+4That is a common misnomer. Foreign policy has profound effects on the flow of capital investment. If we make unnecessary wars or have unpopular foreign policy stances, then foreign capital investment will drop off. The richest countries are also the least aggressive ones.
- phosphodyson, on 03/27/2008, -0/+3*****. You need to read up on your history. The 30s experienced mass environmental disaster in the form of the Dust Bowl, where unsustainable farming practices and a prolonged drought led to the great plains turning into essentially a huge desert. The Dust Bowl period lasted for nearly a decade, and affected some 2.5 million people. It affected both U.S. and Canadian farmers. Literally millions of acres of tillable land were lost.
As for energy, the 70s experienced OPEC and the Arab Oil embargo, which led to the 70s recession and stagflation.
All the stuff you are experiencing now, energy, pollution, environmental disasters, terrorism are nothing new. The world has had them since the advent of human societies, and most likely will continue having them well into the foreseeable fture. - keltin, on 03/27/2008, -0/+3I don't think pepole quite understand what is happening in the United States.
1. The Federal Reserve Bank has gone crazy. They've bailed out non-bank, financial institutions, for billions of dollars. The only difference in getting into the Great Depression was the government was bailing out banks.
2. The Federal Government is creating policies that are causing greater and greater inflation. This is BOTH the President's Administration and Congress. They're both culpable. Over eight TRILLION dollars in debt?
We are so Screwed, and most of you don't even know what's coming. - keltin, on 03/27/2008, -0/+3Ya know what *****? It AIN"T GONNA WORK!!! They are NOT going to create stability because they've opened the floodgates on the Fed's money, and they'll just start cranking out more and more, faster and faster, until we are in Deep *****.
Of course, the people who sold short on Bear Stearns made money hand over fist.
This is almost like the President and his merry men wanted this to happen. Did I read right about two years ago when an article listed most of Dick Cheney's assets as being in instruments, money and property that was primarily overseas? I hope I'm not a tinfoil hat wearer, but this is ***** ridiculous. I guess it makes it easier to sell the NAU for an impoverished America to join. - DaDrake, on 03/27/2008, -0/+3It also correlates with world economies. Germany recently reported economic indicators of a recession. What's ironic about the strong Euro is it's hurting European businesses. Suddenly, foreign goods are cheaper and more expensive to foreigners.
Basically, everything is a double edged sword. - masterm1nd, on 03/27/2008, -0/+3The problem is, people are wating for rock bottom before investing...
- stonklit, on 03/27/2008, -0/+3Oh snap. My entire future depends on this one DIGG POST.
THANK YOU SO MUCH FOR MY SALVATION.
Come to my house and let's play tickles. I owe you for your vision of the future. - BESTenemy, on 03/27/2008, -0/+3Obama's office will help us psychologically? What about physically? What does he say about economics? Is he going to cut funding to the war that's getting us deeper into debt, after having voted to extend funding? What is his position on the federal reserve interest rates policy? What are his plans regarding upcoming oil shortages?
I know he's a great motivational speaker. He can get a standing ovation just by being able to turn any physical question into a moral rhetoric, while avoiding the issue all together. He's got the character. Luckily for him, people pick charisma over political program or the voting record. - covertbadger, on 03/27/2008, -0/+2Yes! Sell low, buy high! All aboard the gold bandwagon! Shun diversity! Conveniently ignore the >10% plummet from last week and pretend it's all good from here!
- pak314, on 03/27/2008, -0/+2Imagine that employees in the financial industry don't know much about diversification.
- inactive, on 03/27/2008, -1/+3God I hate these people shilling gold. Look, gold is just ANOTHER bubble because the sheeple are buying into it, just like the .coms and the stupid real estate boom...Wooo...I'm gonna drive up the price of gold so that people dump it all at once...BRILLIANT!
- Look4Truth, on 03/27/2008, -1/+3You ain't seen nothin' yet.
- ScottMitchell, on 03/27/2008, -0/+2But now that it's down IT'S THE PERFECT TIME TO BUY! Buy now or be priced out forever!!
- andy314159pi, on 03/27/2008, -1/+3Phosphodyson is correct.
- inactive, on 03/27/2008, -0/+2It's not your math, it's your reading.
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