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Old 03-01-2009, 08:27 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,630,359 times
Reputation: 916

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Quote:
Originally Posted by dcashley View Post
The DOW consists of an arithmetical operation on the price/earnings information from only 30 stocks. The DOW was created by two guys who worked for the Wall Street Journal. One of their last names was Dow, the other was Jones. These two guys came up with an extremely volitale index to help sell newspapers. The numbers in the DOW mean nothing. They are completely bogus. The only thing you can glean from those numbers is that when it increases: the aveage prices of those 30 stocks when normalized for earnings, is going up. And vice-versa when it goes down. My advice: ignore the DOW. Focus instead on the Wilshire and Russell indexes.

I have to agree. I pay very little attention to the dow. The index that concerns me and many traders I know is the S & P 500. It is 500 of the larger American and a few foreign companies. But I do look at the Russell several times a day.
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Old 03-01-2009, 09:06 PM
 
Location: Boca Raton, FL
4,853 posts, read 8,324,492 times
Reputation: 5488
Smile I agree with you

Quote:
Originally Posted by thebigr View Post
I am very well aware of that. But in the 90's there were not so many players in the global expansion. We need to keep our tax rates lower than the competition. If we want to bring these jobs back to the USA we need to give a corporation incentive to do so. The wealthiest 2% are alot of the owners and executives of these companies.

I am certainly not in the upper 2% but I do understand what the implications are on higher taxes of the wealthy and buisnesses.
I agree there is money on the sidelines, private equity. Mark to market - any one have a view on that BTW?
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Old 03-01-2009, 09:15 PM
 
Location: IN
20,170 posts, read 34,503,731 times
Reputation: 12508
Quote:
Originally Posted by thebigr View Post
I am very well aware of that. But in the 90's there were not so many players in the global expansion. We need to keep our tax rates lower than the competition. If we want to bring these jobs back to the USA we need to give a corporation incentive to do so. The wealthiest 2% are alot of the owners and executives of these companies.

I am certainly not in the upper 2% but I do understand what the implications are on higher taxes of the wealthy and buisnesses.
+
Yes, I generally agree with those points. At this stage in the economic cycle we need to undercut the competition for a period of time. I would like to see much more talk about helping small businesses, however. Many small businesses are on the very brink right now.
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Old 03-01-2009, 10:27 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,305 posts, read 11,815,250 times
Reputation: 8038
The wealthiest 2% probably won't stop working (for those who do work) if they have to pay their fair share of taxes. They're not going to sit at home and sulk. My impression is that the ones who actually work say as CEOs or entrepeneurs don't do it solely for money, but because they like to excel and be the top in their field.

And who cares what the trust funders do.

You might think, "well, perhaps they will move to a tax shelter nation" but chances are they won't even do that. They've made their pile, and it's difficult to adjust to a new country.
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Old 03-01-2009, 10:49 PM
 
Location: Socialist Republik of Amerika
6,212 posts, read 11,455,573 times
Reputation: 1101
Quote:
Originally Posted by Woof View Post
The wealthiest 2% probably won't stop working (for those who do work) if they have to pay their fair share of taxes. They're not going to sit at home and sulk. My impression is that the ones who actually work say as CEOs or entrepeneurs don't do it solely for money, but because they like to excel and be the top in their field.

And who cares what the trust funders do.

You might think, "well, perhaps they will move to a tax shelter nation" but chances are they won't even do that. They've made their pile, and it's difficult to adjust to a new country.
How many of the 2% do you know?
The one's i know are playing golf and telling this President to shove it.
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Old 03-01-2009, 10:52 PM
 
3,460 posts, read 4,793,244 times
Reputation: 6677
Quote:
Originally Posted by thebigr View Post
I trade stocks for a living. Have been since 92. And traders do not like what they see going on right now with our government. Most of us believe in free market capitalism and do not like government interferance. I can pretty much gaurentee if this administration would just step back a little things would turn around. You have no idea how much private capital is sitting on the sidelines right now waiting to be used. But when noone knows the rules from day to day and when rules are made that are anti buisness the money will just stay right where it is.
I've been wondering if part of the government's strategy is trying to force private money out of stocks and into the banks....
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Old 03-02-2009, 07:01 AM
 
Location: Fort Myers Fl
2,305 posts, read 2,630,359 times
Reputation: 916
Quote:
Originally Posted by sterlinggirl View Post
I've been wondering if part of the government's strategy is trying to force private money out of stocks and into the banks....
Private money won't even start looking at banks until they stabalize. And nationalizing banks will not help that at all. Private money does not like the government as a partner.
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Old 03-02-2009, 11:14 AM
 
Location: Under a bridge.
3,196 posts, read 4,717,966 times
Reputation: 976
SELL EVERYTHING. MOVE TO THE MOUNTAINS. TAKE A SHOTGUN. TAKE FOOD. THE DOW IS LOWER THAN 7,000.

wait...the Dow is meaningless....but the other indexes are scaring the H*ll out of me!
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Old 03-02-2009, 11:42 AM
 
Location: Socialist Republik of Amerika
6,212 posts, read 11,455,573 times
Reputation: 1101
Quote:
Originally Posted by dcashley View Post
SELL EVERYTHING. MOVE TO THE MOUNTAINS. TAKE A SHOTGUN. TAKE FOOD. THE DOW IS LOWER THAN 7,000.

wait...the Dow is meaningless....but the other indexes are scaring the H*ll out of me!
Until more people ignore the Dow, it is relevant.

Psychological impacts are very real.
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Old 03-02-2009, 11:46 AM
 
2,197 posts, read 6,594,651 times
Reputation: 1684
Quote:
Originally Posted by thebigr View Post
Private money won't even start looking at banks until they stabalize. And nationalizing banks will not help that at all. Private money does not like the government as a partner.
Can't blame them. If we ran our companies like AmericaCo, we would be bankrupt and out of business. Perhaps that's why the market is responding so negatively-- because people feel the government is bankrupting the country? Owe more than you can ever repay yet keep borrowing, produce next to nothing, outsource jobs while unemployment rises, increases taxes on those with the power to create new jobs, let your adversaries be your bankers and concoct a cocktail of policies paving the way for an inflationary depression-- anybody liking that business plan?
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