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So what happened to all the promises of correcting conditions which lead to the last economic collapse?
Watching the stock market crash, off near 3,000 from its high, and remembering how the so-called experts say never to panic....yet they are the ones panicking and selling off like crazy.
So if the last stock market crash was due solely because of the last president, then the same thinking must apply to this president. Fair is fair.
We were told, and foolish people believed, that rules were changed after the last economic implosion and now it won't happen again. Yet here we are again with a housing bubble building and a stock market crashing. Lesson learned - Never listen to political talking points and promises from either side. It's all B.S.
The current drop has very little to do with the Hosing Market and was mostly due to the drop in China and more recently oil. We also are no where near the drop we saw in 08 and the other market indicators aren't even remotely close to what we were seeing at that point.
The current drop has very little to do with the Hosing Market and was mostly due to the drop in China and more recently oil. We also are no where near the drop we saw in 08 and the other market indicators aren't even remotely close to what we were seeing at that point.
Some autocorrect typos are entertaining with their accidental truth.
So the next president will get the blame for the economy's slow recovery when it never really recovered from the first one in 2008. Just trying to get the blame all lined up for the next poor fool that gets in office.
Clinton handed off the dot com bust. Bush handed off a crap economy. Obama will hand off a crap economy. Seems like we are creating a tradition. Well that is the job. Welcome to Washington Mr/Miss President and all the crap is stacked up on your desk.
I actually don't assign it to either POTUS. I was mentioning that because some people like to blame one, but not the other....depending on their political identity.
Some people simply look at the situation. The 2007-08 crash happened because of US economic policies, while this correction (yes, it is not a 'crash') is happening due to foreign markets. We needed a correction.
Some people simply look at the situation. The 2007-08 crash happened because of US economic policies, while this correction (yes, it is not a 'crash') is happening due to foreign markets. We needed a correction.
A lot of it is the system we have.....the whole "wealth effect" illusion that the USA is so hot on pushing does a LOT to create bubble after bubble.
Even wonder why the Fedgov must be so involved in the housing/mortgage market??? Lol, they have no choice. If banks either were selling their paper to private financial institutions banks....or they had to hold their own paper, they would NOT lend to 50% of the people who now have mortgages. So Fedgov says, HEY, we will get massively involved in the housing/mortgage markets and TELL the banks that they MUST lend...and we will soften the blow by buying a bunch of their paper.
Anything past 9000 in the dow, is a bubble that has been created by free money from the fed. That free money has a price, that is being paid back.
When the market does good, the banks win. When the market is in downfall, the people lose, not the bank.
The Federal Reserve has admitted that the goal of QE is to inflate the stock market. The mania is coming to and end. There are so many illegitimate businesses that are about to go under. There are millions of Pets.coms out there. It's gonna be brutal.
Location: When you take flak it means you are on target
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Quote:
Originally Posted by BentBow
Anything past 9000 in the dow, is a bubble that has been created by free money from the fed. That free money has a price, that is being paid back.
When the market does good, the banks win. When the market is in downfall, the people lose, not the bank.
What he said.
Nothing to worry about unless you bought in at 18,000. Don't think we'll see 9,000, but holding at 15,000 is probably realistic. 12,000 would be good.
Oil at $26, when it hits $22-23, buy, buy, buy. Sit if it goes lower, cause in five years it'll be back at $70 and higher if Saudi and Iran nuke each other. (We can only hope..)
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