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The DOW jones means nothing, it is driven by sentiment which may have no connection to reality (and it usually doesn't). People feel the worst is behind us so they buy. The DOW can fall just as fast as it has risen and it has infact happened that way in the past. There is a lot of deleveraging still to take place, the red ink has all been put on the backburner for a bit... a lot of corporate bonds going bad and 2nd wave of foreclosures about to hit.
It's nice to see someone who knows what they are talking about. Bravo! I would leave you feedback but it's telling me to spread it around. The 2nd wave of foreclosures is going to be a major problem.
I believe this is the fantasy of every militia nut that is stuck in the bunker in the wilderness. How one got wifi out there I am not sure. Certainly has been played to death that every month for the last 2 years "Don't worry, it will happen this month" and it doesn't. Once jobs start getting filled with more gusto (visibly happening now here, in one of the worst hit areas) they will crawl back into their holes and swear it will happen...maybe get some airplay next recession if they don't decide to cheat on their taxes and get sent to prison.
Stock up on canned food, guns, ammunition, etc, and run for the hills. Its gonna get BAD!
Yes because clearly this nation does not have enough food, plus I hear that if the DOW crashes below 5000 the farms and food manufactures are just going to vanish over night.
Anyhow, the DOW in the 10,000 range is not all that insane. After all that is where it was around 10 years ago and the economy is, despite the recession, bigger today than it was 10 years ago. A DOW in the 3,000 range is way out of line even for the more pessimistic predictions (actual predictions, not wing-nut nonsense).
haha I love threads like this because it shows just how uninformed and plain dumb Americans are......especially those who play the stock market. Some of you in this thread probably think the Federal Reserve is run by the government and a government entity.
The US is still shedding jobs .......unemployment is actually around 20-25% and is going to keep climbing. OUR COUNTRY IS BANKRUPT! Wars, entitlement spending, no jobs, etc. WallStreet is in NO WAY a reflection of mainstreet or the greater overall economy. It's become one big casino. Our manufacturing has been gutted. It's been decimated way before this recession even happened. There is no such thing as an economic superpower without a strong manufacturing base. I swear some of you wallstreet suits need to get out a little more. You have no clue how a REAL economy works.
The ONLY way to add value to an economy is to mine it, grow it, or build it. Banks, Insurance, Real Estate add ZERO value to an economy. We have completely financialized our economy. It's toast! The rich can get as rich as they want........they are killing the middle class and so in the end will kill themselves off.
PD: Don’t forget the Dow is fake also. They took out GM and Citibank from the Dow. Those are two zeros and they put in Travelers and Cisco…that’s 640 Dow points that were added because they swapped GM and Citi for Travelers and Cisco. Now is that real?
LD: I look at the most actively traded stocks. Almost everyday the most actively traded stock in the market is Citi…this isn’t real…
PD: Whether Citi is real or not, I think you touch on something more important, though. The most active stock is Citi. The next most active stocks are Bank America, Wells Fargo…
LD: Also AIG.
PD: Those trades are 80% of all trades in the market and the total market volume is less than half of what it was back then. In other words, you’ve got half the market participation of what it was and of that half, 80% of it is concentrated in less than half a dozen financial firms.
LD: What does this say about the future of Wall Street?
PD: It says that the people who are running the system are in total control of the marketplace. There is no retail participation….on a relative basis. (financial armageddon)
The US is still shedding jobs .......unemployment is actually around 20-25% and is going to keep climbing.
Based on what? What measure of unemployment has unemployment at this rate.
Quote:
Originally Posted by SoCalCroozer
Our manufacturing has been gutted.
The manufacturing sector contributes around $2.7 trillion to the US GDP. The US is still one of the largest exporters as well.
Its a bit ironic you started this accusing people of being uninformed, and yet followed it with all the commonly stated nonsense.
Quote:
Originally Posted by SoCalCroozer
Banks, Insurance, Real Estate add ZERO value to an economy.
And this of course is complete nonsense. Businesses of any sort rely on the financial sector, insurance sector, etc. Suggesting these have zero value to an economy is like suggesting oil has zero value in an automobile.
This is due to many people not understanding or refusing to understand what ‘capital’ is. It is not gold, it isn’t silver, it isn’t paper money, it isn’t credit, that is certain! It is the industrial base, the agricultural base and the condition of the finances of the populace at large. When all three are falling deeper and deeper into debt, JUST TO STAY THE SAME, this is a sign of economic collapse. It means, there isn’t a rotating value of capital to keep things running. If people have to borrow today for consuming today, this is a pit, it builds nothing.
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The US borrowed epic amounts of money to shrink its own industrial base. This is pure madness. There is no ‘money’ created in all of history that can fix this. This is a social problem, not a financial problem. This is a trade problem when the reduction in the industrial base, while creating more debt, is accompanied by a rising trade deficit.
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So first, let’s look at this obscure news story and follow the logic here to see how the present situation is totally whacked out: CDO ‘Samaritan’ Hildene Duels Funds Over Collateral (Update2) – Bloomberg.com (continued in article)
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