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After artificially propping up the economy for years the skids are finally being pulled out from underneath? Good, this was long overdue, fundamentals simply did not support Dow 15k. When you go on a long drunken binge, when you finally put down the bottle first comes the hangover and then long withdrawal pangs.
Only slightly. The historical P/E ratio for the dow is 15.
Ben Bernanke spoke and the market is dropping. He is currently pumping $1 Trillion a year into the economy. Yesterday he said next year he may be taking away the biggest economic stimulus we got going now.
Home buyers are also going to be effected as interest rates increase.
Can the economy stand on it's own without Ben.
It would be interesting to hear what you are told you think about this....
Bernanke doesn't "Allow" Obama to do anything. You have this all mixed up. When it comes to public deficits, the Fed prints whatever congress tells it to.
Quote:
All the government dependents Obama has created will be SOL when the printing stops. If it doesn't stop, everyone will be SOL.
The stock market would be below 10,000 if not for the printing presses making the cost of everything increase in price. Like cutting dollar bills in half, calling each half a dollar, but smart people know and want both dollars to have the same they had before.
As I said elsewhere - if you REALLY want to see what's been being supported by QE, look at what GOLD has been doing the last 2 days. Gold is being SLAUGHTERED.
Apparently Gold has been supported by QE farrrrrrrrr more than stocks have.
Sooooooooo ironic.
"Gold settled more than 6 percent lower at $1,286 per ounce after prices plunged earlier to their lowest in more than 2-1/2 years on Thursday, with investors exiting in droves after the U.S. Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end..."
My gut feeling is that this 'recovery' since 2009 has been built on sand.
Sounds like you ate too much Mexican food.
I don't go by my "gut", I go by what the data says - and the data says something different than you gut does.
As I said elsewhere - if you REALLY want to see what's been being supported by QE, look at what GOLD has been doing the last 2 days. Gold is being SLAUGHTERED.
Apparently Gold has been supported by QE farrrrrrrrr more than stocks have.
Sooooooooo ironic.
"Gold settled more than 6 percent lower at $1,286 per ounce after prices plunged earlier to their lowest in more than 2-1/2 years on Thursday, with investors exiting in droves after the U.S. Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end..."
If the federal reserve wasn't manipulating the currency, a $20 gold piece would still be worth $20, and not $1250, and once almost $1900.
The dollar gains strength, when the printing presses turn off.
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