Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-08-2011, 01:17 AM
 
16,433 posts, read 22,134,819 times
Reputation: 9622

Advertisements

Quote:
Originally Posted by malamute View Post
And exactly what do we have to show from all the wildly out-of-control spending these past few years?
A New World Order with a humbled USA. That was the plan from the start.
Reply With Quote Quick reply to this message

 
Old 08-08-2011, 01:20 AM
 
Location: Los Angeles
14,361 posts, read 9,752,007 times
Reputation: 6663
Quote:
Originally Posted by malamute View Post
And exactly what do we have to show from all the wildly out-of-control spending these past few years?
The credit card bill and a massive hangover, not to mention a bunch of wars we can't seem to get out of. Total garbage is what we've got.

People seemed to think we had a historical turnover last November... funny, I still see Reid and Pellosi running the show. Ironic isn't it?
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 01:23 AM
 
16,433 posts, read 22,134,819 times
Reputation: 9622
Quote:
Originally Posted by steven_h View Post
Most of us knew, we listened, however the politicians didn't.

Dow set to open -300, don't be surprised if it hits 4-500. It may not crash, but it'll be in a slow burn for the next few weeks -- at least.
The pols know. They are only playing their part. I thought the debt ceiling deal would cause a short spike in the market so I dumped more into it hoping for a quick run-up. I zigged when I should have zagged, and It's going to hurt!

So, now that I bet and lost, can I "socialize my losses" and get a federal bail out?
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 01:34 AM
 
591 posts, read 864,289 times
Reputation: 691
Sell the VIX and wait for volatility to collapse
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 01:53 AM
 
Location: Imaginary Figment
11,449 posts, read 14,432,626 times
Reputation: 4777
Quote:
Originally Posted by steven_h View Post
Sunday: The Tel Aviv Stock Exchange delayed its open by 45 minutes to avoid panic but it did not help. The market plunged by seven percent in response to the downgrade of the debt rating in the United States.

Asia markets start opening in less than an hour:

Asian markets confront new world after downgrade - MarketWatch

Europe will follow in about eight hours.

Oil is already down another 3% while Gold is up and touching $1690oz
Stocks, Oil Plunge As Central Banks Battle Gloomy Economic Outlook - WSJ.com (http://online.wsj.com/article/BT-CO-20110804-715601.html - broken link)

If this downgrade was already figured into the markets, someone forgot to tell investors. If we haven't been in a depression, we may be seeing the beginning of it now.
The downgrade is just a part of it.
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 08:33 AM
 
Location: Los Angeles
14,361 posts, read 9,752,007 times
Reputation: 6663
The open was a tad softer than expected. Anyone who was long could have gotten out in the first 5-10 minutes of market open and suffered a relatively minor hit.

Markets now down 320 or so. I still expect -400+ for the day.

Budeshi said: I thought the debt ceiling deal would cause a short spike in the market so I dumped more into it hoping for a quick run-up. I zigged when I should have zagged, and It's going to hurt!

I did the same thing as you. I reversed my calls on FAZ to puts on Friday morning. Nearly wiped out this morning. Ah well, S&Gs anyway so who cares
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 01:58 PM
 
Location: Los Angeles
14,361 posts, read 9,752,007 times
Reputation: 6663
Looks like it'll be right at -600 for the day.

I'm not sure the US is humbled. I'd say the citizens are pissed, while the politicians are pointing fingers, and the bankers are salivating at the raise in finance charges they be able to apply, while the President is mostly clueless.

But humbled... not a chance. HUmble pie is a dish rarely eaten by the arrogant.
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 04:09 PM
 
Location: Wisconsin
25,604 posts, read 56,318,456 times
Reputation: 23267
Quote:
Originally Posted by steven_h View Post
The open was a tad softer than expected. Anyone who was long could have gotten out in the first 5-10 minutes of market open and suffered a relatively minor hit.

Budeshi said: I thought the debt ceiling deal would cause a short spike in the market so I dumped more into it hoping for a quick run-up. I zigged when I should have zagged, and It's going to hurt!

I did the same thing as you. I reversed my calls on FAZ to puts on Friday morning. Nearly wiped out this morning. Ah well, S&Gs anyway so who cares
High frequency trading killed a lot of people today and had a lot to do with this major selloff. Totally abnormal. Najerian and Cramer both b*tching about it. As just one example, Najerian cited an option trade @8.75 and then 8.15 in a millisecond. They are ticked and say the SEC and CDC are investigating the few hundred firms that allow/engage in this.

Last edited by Ariadne22; 08-08-2011 at 05:03 PM..
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 06:03 PM
 
3,345 posts, read 3,066,195 times
Reputation: 1725
Quote:
Originally Posted by florida.bob View Post
TParty riding on the back of the US economy as it goes off the cliff yelling, "YIPPEE"!

Maybe this country needs a real crisis to wake up its citizens who have been mostly zombies for 10+ yrs now

Market down 634 points... whoops...
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 06:18 PM
 
Location: The Republic of Texas
78,866 posts, read 46,420,298 times
Reputation: 18520
Quote:
Originally Posted by theunbrainwashed View Post
I'm gonna take a slight bullish stance on this. Do I think the Dow is gonna go down 500 points again? Somehow my gut tells me it's only gonna go down 100-200 points at most. We'll see if I'm right, and I hope I am



I bet you're glad, you are not a stock broker with clients, after today.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 09:26 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top