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- inactive, on 01/22/2008, -61/+342Yes indeed, we saw the president and several of the presidential candidates finally admit that the economy is in steep decline and only one presidential candidate predicted it. Ron Paul is by far the candidate with the most expertise on macroeconomics and the federal government and he saw this one coming a long time ago. It is time for Americans to start listening to Ron Paul because the lawyer candidates are economic mental midgets.
- Berkana, on 01/22/2008, -16/+170Stimuli packages mean jack ***** when the monetary system itself results in debt that can never be paid off (I'll post it again because this needs to be known: http://www.digg.com/business_finance/Our_Debt_base ... ). Our recession is not a result of problems with consumer confidence; during the tenure of George Bush, taxation on non-production related earnings (capital gains, investment income) dropped disproportionately benefitting the rich, while the wages of those who actually do useful work for a living dropped. Meanwhile, our money supply has been inflated to finance a war the administration does not have the political will to raise taxes for, which reduces the buying power of our dollar both at home and on the world currency market: http://www.alternet.org/workplace/74262/?page=1
If Bush raised the $500 billion dollars we've used fighting in Iraq from taxation, not even the most staunch right-wing war supporter would support it. Instead, the burden of paying for this ridiculous war falls on the people after he's out of office, with interest on top of that. And of all the people we're borrowing money from, we're borrowing money from China to finance the war. Does he have no idea what consequences this will have on our debt to China?
Worse off, McCain wants to keep our troops there indefinitely. How expensive will that be? We cannot borrow money at interest to fight the war forever; eventually, we will have a financial collapse due to war debts alone. God forbid a war supporting candidate gets elected. - jlhoben, on 01/22/2008, -4/+145They have no idea how bad it is out there! No idea!!!!!!!!!!!!!!!! I guess you were right Cramer.
- mnederlanden, on 01/22/2008, -10/+137expect a bad day in the US market tomorrow.
- elvenseven, on 01/22/2008, -54/+166Ron Paul was right, again.
Go ahead and bury me because I like him. - inactive, on 01/22/2008, -27/+124BUSH: Hmmmm lets print a whole ***** of money and reduce the interest rate again, that will surely help!
***** idiot monkeyface - eclectro, on 01/22/2008, -8/+102Wow. A recession we can't blame on Bill Clinton.
- inactive, on 01/22/2008, -8/+73This is a GOOD THING, Stock markets cant rise forever, its like a living system, sometimes it needs to exhale.
- Disregard, on 01/22/2008, -1/+60Is a metaphor or a guide to getting some delicious free bacon should the ***** hit the fan?
- rossmills, on 01/22/2008, -4/+61BUY!
- spike1201, on 01/22/2008, -10/+61Dow will likely open already down 400 points. It's going to be a bloodbath.
- Spectre74, on 01/22/2008, -8/+57Not sure if I wanna cry because of the falling market or rejoice because of the resulting awakening.
- DrMonkeyLove, on 01/22/2008, -0/+46Dollar cost averaging FTW! Trying to time the markets is a losing game. He wasn't investing. He was gambling. There's a HUGE difference.
- roodammy44, on 01/22/2008, -0/+45Who's have thought that giving people with no income huge mortgages would have caused so much chaos?
/sarcasm - Thex1138, on 01/22/2008, -6/+47Hmmm that 1.5 trillion in military expenses over recent years could have been spent a little more wisely...
- inactive, on 01/22/2008, -1/+40Australian stock market has also been hammered, monday was down 7.5% and it has lost value 10 DAYS IN A ROW. Not sure how much it's going to fall tomorrow. So guys how does lower stocks affect me? As a ordinary person, im a noob when it comes to economics and this sort of stuff. Like it's losing value not customers/profits right?
- KnightWhoSaysNi, on 01/22/2008, -0/+38I think he meant "Depression".
- lukak, on 01/22/2008, -1/+38no, I'd say they have a lot further to fall.
- epilonious, on 01/22/2008, -1/+36Well then, don't sell it while it's low, buy some more, and when it goes up again you'll gain back all that 6,000 AU and then some.
If you counted on having that 6,000 AU around for making the house/rent payment... and don't have other sources of savings or income... Then, well, you've made a very bad and poorly researched decision. - datastorageguy, on 01/22/2008, -7/+39Last I checked the federal reserve chairman made that decision not the president.
- KragTheDigger, on 01/22/2008, -6/+35ok, so the market plunges... prices are low... time to jump in and buy, right ?
~K - NeverOffside, on 01/22/2008, -5/+33Oh that's tragic. They should change it so stocks can only go up.
- BeefBaron, on 01/22/2008, -8/+36It'd be amusing if Cheney lost all the gains he's made on his Halliburton stock over the last few years!
- baalzebub, on 01/22/2008, -3/+29when the USA suffers other nations are going to suffer as well, especially the poorer third world nations, the USA grows and gives away more food in the form of corn, rice & wheat than any other nation on earth. and when the USA can not afford to do this a lot of people are going to starve...
- lazerus9, on 01/22/2008, -0/+24Four legs good two legs bad.
- inactive, on 01/22/2008, -1/+24I saw Cramer call out Bernanke on his show months ago, predicting this would happen.
- altgeeky1, on 01/22/2008, -7/+30Bush has been printing money like there's no tomorrow... which wouldn't have stopped a recession, but it COULD have postponed it until after he left office which is what he wanted.. 'legacy' and all. By the time this is over, China will own the Golden Gate Bridge and Dubai will have purchased Key West.
- darkstar949, on 01/22/2008, -0/+23It's a bit complicated in how the stock markets directly impact the average person, but most people have the majority of their retirement accounts in the stock market so those looking to retire soon are going to be the hardest hit.
- lukak, on 01/22/2008, -3/+25tell me about it. I've lost $15,000AU in my portfolio already, doesn't look like it's going to stop either. People are already using the 'D' word...
- MrCobaltBlue, on 01/22/2008, -6/+27Ron Paul said in an interview with goldsilver.com that we'll have a sharp economic downturn in the next 5 years. Also in 1983 he predicted the recession of 1987 (even named the year).
http://video.google.com/videoplay?docid=1045924545 ... (recent interview)
http://www.youtube.com/watch?v=8GzRWSof8uQ (1983 speech) - staxofmax, on 01/22/2008, -0/+20I'm not due to retire for another 40 years, so any collapse in stock value just creates a buying opportunity for me. Sucks for the baby boomers, though. Although it kind of serves them right, they've been ***** up this country for the past three decades.
- Parastie, on 01/22/2008, -1/+21Damn, i was hoping the market wouldn't crash until after i finished med school...
- KnightWhoSaysNi, on 01/22/2008, -1/+20Is "to bad" a new verb?
- lukak, on 01/22/2008, -0/+19dingoes.
- DrMonkeyLove, on 01/22/2008, -1/+18But you invest for the long term. In year everything will be back to normal. Now is the time to start buying more. My retirement account has lost thousands, but I don't care because I won't be needing it for another 30 years.
- inactive, on 01/22/2008, -3/+20Gee I am happy now that I sold my house and put all my money in the stock market, just like you all told me to. When will my millions get here?
- Kyan, on 01/22/2008, -1/+18"To bad, or not to bad?" That is the question to answer, my lad.
- davewashere, on 01/22/2008, -2/+18And now he's probably making some decent chunks of it back with those Adsense ads on his website and a huge boost in traffic from reddit.
- LokitheComplex, on 01/22/2008, -0/+15literally?
- b8man99, on 01/22/2008, -0/+15didgeridoo?
- elvenseven, on 01/22/2008, -5/+20This dude lost $31k yesterday betting on markets. It's on reddit.
His blog: http://highprobability.blogspot.com/2008/01/31k-go ... - StGhurka, on 01/22/2008, -0/+15You'll be affected indirectly because a crash like we're having makes it more likely we'll see a recession. A lot of wealth has vaporized in the last few weeks.
On the bright side, if you actually have any money that you're willing to expose to risk, you have an opportunity to buy stocks on sale. If you have some sort of retirement plan available to you at work, now might be a good time to start contributing to it.
"buy when there is blood running in the streets" - thcobbs, on 01/22/2008, -2/+17Or Carter.
- mufasa, on 01/22/2008, -0/+15Oslo Stock Exchange has so far had the worst results in 2008 of all the stock exchanges in the world, down 17%.
- floorman56, on 01/22/2008, -1/+16So whats your degree in? ..In a recession people who are needed ( Dr's Nurses, plumbers) are still hired But if you have a degree in FRENCH ART HISTORY" well yea you have a problem.
- bosssmiley, on 01/22/2008, -0/+14#It's rainin' stockbrokers, Hallelujah!# /end weathergirls
- mmmmmbiscuits, on 01/22/2008, -2/+1650 Cent ownz Kanye West, of course.
- DamnMan, on 01/22/2008, -1/+15Darkstar's point is valid. However much more likely to effect you is that most of the time profit "loss" happens from the bottom up. The people that are really freaking out are the same ones that write their own pay checks and can deflect the costs back on the Average Joe. Why would an Exec want to give up the corporate jet stocked with Dom when he can just fire 1000 of the 5000 people that perform a certain task in the corporation. So don't go finance a 50 inche plasma TV just yet...
Big Business: *****' on the little guy! - johnhummel, on 01/22/2008, -0/+14Yeah. Because Chris Matthews strikes me as sedate and serious.
Matthews: So, do you think Hilary hates black people.
Pundit: Well, I don't think -
Matthews: Hah! What do you know! Hey, you - I think that Romney has sex with puppies then eats them. Got anything on that?
Pundit: What? I'm hear about global warming -
Matthews: Well, I think it's getting pretty hot every time Obama takes off his shirt, am I right? Unless Guiliani wears a dress!
Sorry - sedate and serious != Chris Matthews. -
Show 51 - 100 of 595 discussions
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