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.
Actually, for that picture to be truly accurate, it should have Ronald Reagan prominently in the front and center, with Alan Greenspan and George W. Bush flanking him on both sides, the 112th Congress on the left and the Tea Party Patriots on the right, and finally Obama peeking out somewhere in the background.
300 million people make up the economy and you all got to blame some one person for a 4% one day market drop. You all must like to make your lives difficult.
yes, I am thinking. He puts his name on the bills and turns them into laws. he also goes to war without the congress passing it. Obama is a communist dictator pushing Obamacare on everyone.
Only one who got a raise from Obama was the welfare recipients, while the middleclass has turned into the working poor.
Printing money comes with inflation. Ben Bernanke ran the housing market into the ground.
Congress gets together to use our credit card daily for give aways to stimulate the economy.
Mandating everyone that they have to buy health insurance. That will break the economy, oh yes, government take over on health care is around the corner and with all those healthy people buying insurance instead of putting into other sectors to beef up business growth , economy will stagnate.
Obama doesn't know how to think! His pay grade is too low.
Lots of talking points above.
The House and Senate have to pass it before it ever sees the president's desk. That's how our democracy works. Nothing has changed.
You're going to blame Obama for not following the War Powers Resolution for Libya, yet not bring up Reagan, Bush I, and Bush II who also ignored that same legislation for Grenada, Panama, Somalia, the Gulf War, and Iraq? It's not like there wasn't a precedent.
Communist dictator. Really now. You must be happy with a broken health care system and the fact that we pay more than any other country for this broken system. The intent of PPACA was to reform the system, and thanks to Republicans who are afraid of upsetting their corporate PAC's we ended up with a piece of legislation that has no teeth. Most Americans wanted a single payer system, and most still do.
It's funny that people will vocally complain about any sort of tax increase, but out of control rising premiums and widespread abuse in a privatized system with little oversight is perfectly ok with them.
Obama also compromised on a debt ceiling resolution that gives the Republicans nearly everything they wanted, with John Boehner specifically quoting he got "98% of what I want." Fact is, we have a spending AND revenue problem, and until the Republicans wake up and stop repeating rhetorical garbage about taxing "job creators," we will continue to experience malaise in this economy. There is no confidence this nation has the will to make the hard decisions needed to get the house in order.
Ben Bernanke did not run the housing market into the ground. Thank his predecessor for sewing the seeds.
Last edited by mustang84; 08-04-2011 at 11:26 PM..
Give it time. It will bounce back. Perhaps as quickly as tomorrow. I have little reason to think that following a down day of this size that there won't be some kind of rebound tomorrow. If it falls another 500, then you can start worrying.
Real or not, who cares? A lot of folks saw it go from 6400 to 12k in 26 months or so. And pocketed millions in the process. That looks pretty real to me. Most bulls don't care why a market goes up, just as long as it goes up. Let's put this into perspective. So we're down 1k for the week. We're still pretty far above where we were. It's like being second place in a race of 50 runners. Sure, you didn't win, but you still beat out 48 others. Like I said. It'll come back. Even if it loses another 300 tomorrow, I still wouldn't worry. There are a lot of itchy investors that will chase any dip they can and run it right back up.
Well put. While they have zero of my money, sitting back, I get the game.
All the white collar working slobs have been drawn into the mess via the corporate tax scam 401K nonsense and other grifter retirement plans. Means that it will be re-re-re-inflated as needed.
Quote:
I can't stand Uncle Ben "Dover" any more than you do, but that sentiment is pretty misguided. Had there not BEEN a housing bubble in the first place, all of this would be moot. If anything, Greenspan is more to blame. Just as much as the folks who participated in that speculative bubble themselves are to blame. The only people that Ben has helped were the very same shysters that peddled those housing based paper swindles. THAT'S where the real problem is.
But we all know the reason why we are so desperate to re-inflate the bubble: there's no meaningful economy left here.
Very true, as well.
Quote:
Everything has been shipped overseas. All we really have now is burgers, nail salons, and pee-in-bottle "health" clinics. All of these plumbers, carpenters, electricians, and granite countertop salesmen. Where else we going to put them? If housing doesn't come back, they might as well just die. Everyone knows it.
We do not match on that one. We need all the skilled trades available for a shift we have been trying to avoid for 40 years -- Going off Oil. If the US chooses to do that, I suppose. It is a huge (huge, huge) under-taking. If we do not choose that, I suppose there are always Ox carts as a future option. And then everyone might as well die.
Quote:
The realtors and flippers are not so much desperate as they are bitterly nostalgic about the party years of 2003-2007 where money was falling out of the sky and housing was a quick and easy road to riches.
Yeah, I have run across them lately in working out plans for placing abandoned/dead/cancelled subdivisions back into Ag. As near as I can tell I am only one interested in touching their sites in the last three years.
They are sort of shell-shocked about the entire experience. They really (really, really) did not see it coming. I read Financial Armageddon some years ago, and could not see how it would not happen
Quote:
And then there's the serial refinancers who likewise are yearning for the lifestyles they otherwise couldn't have afforded. Those bills are now coming due and they frankly, just don't want to pay them.
If anything, housing needs to come down another 50% and strategic defaults criminalized.
Dunno about the defaults part, or bills due. I expect the folks to walk on most of that, at this point. Maybe think "Ghost Town." Just empty and people long gone. Who is going to argue about abandoned, empty places?
On the personal and business level, we avoided the whole mess by only doing leases for the last some years, and watching the world around US collapse. Still doing that. But we agree housing is still coming down.
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,877,648 times
Reputation: 2501
Greedy investors inflated the market a year or two ago once they felt that the bottom had been reached and the recovery was a good 2 years or less away. I've heard that the market is always the first to "recover", usually 2+ years ahead of the rest of the nation. Since the nation is in the same place (or worse) than it was in 2008/2009, a correction HAD to be made as the earnings reports and estimates just can not possibly meet the demand side of the equation. NOBODY has money right now! Even if Facebook has a P/E ratio that is close to 1000 even before it goes public, there are not enough customers (marketers) who have the cash to realize that potential.
What I DON'T get is why everyone decided this wasn't a "bull" market all at once? The debt deal that was just signed had little to do with this correction, considering that it is close to what everbody said would come from the negotiations.
The Jobs report is tomorrow at 8:30am. And from what I've been hearing the numbers are not going to be all that great. So I doubt tomorrow is going to be a stellar day. Sheep have a tendency to run if there's even a hint of a threat.
Personally I don't take the stock market as a gauge of anything. It goes down one day, then slide sideways the next, then rebounds the day after that. Basically reading those tea leaves are useless.
Maybe I do a little shopping tomorrow if the market goes down. You know the old adage "buy low, sell high."
just the opposite, the market reflects everything .every bit of news ,rumor etc moves the markets daily.when the next bit of info comes out the markets reflect that the following day.
if you look at the trend of what actually happens long term and compare it to the markets reactions they match up pretty much.
just go as far back as you like and look at how each years events unfolded and look at the markets returns ,they match up pretty good.
i can take any time period and go of course the markets were down that year look at the events of the year that unfolded or how the economy played out..
"We borrow $120 billion a month to pay our $300 billion-a-month bill," Rubio said. "And that's just too much money. That's too much money for Republicans; it's too much money for Democrats. It's just too much money."
While no one in either party would dispute that we have a problem, Rubio said, "The debate is how do we solve it, how do we generate more money for government and reduce the spending, at the same time?"
The debate, Rubio continued, is between those who believe the government's job is to promote "economic justice" and those who believe the government's job is to promote "economic opportunity."
Those who believe more in "economic justice" think "there are some in America that make too much money and should pay more in their taxes. They believe that our government programs can stimulate economic growth. And they believe that perhaps America no longer needs to fund or can no longer afford to fund our national defense and our military at certain levels."
Those who believe more in "economic opportunity" think "our revenues should come not from more taxes but from more taxpayers. That what we need are more people being employed, more businesses being created. They'll pursue tax reform, they'll pursue regulatory reform, but ultimately we look for more revenue for government from economic growth, not from growth in taxes.
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.
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.
