Dow index no longer over 9000;GM shares at 58-year low;WSJ:recession's here

[bigjon]

akuma587 said:

bigjon said:

akuma587 said:

bigjon said:
I would say if GM is healthy 6 months from now... INVEST in them. They seem to get it. The Volt will be huge, I like the direction they are heading. I do not see a depression coming. I see a major inflationary period ahead, tight credit, and higher job loss. No Depression the fundementals of the US economy are too strong, even Obama becoming president would not lead us to a depression.

I having been analyizing the economic leaders, and they seem good. Most of the doom in gloom you see politicalization of the crisis for gain. Yes, it is bad, but the politicians are making it seem worse than it is.

Seriously bigjon, wake up.  The economy is way beyond people "politicizing" it to be a crisis for gain.  And it looks like you copy and pasted some of what you said straight out of things McCain has said before (bolded parts).  Are we all just "a bunch of whiners" too?  In a "mental recession"?

Here is the YTD chart of the DOW.  You see that part at the end there?  That is the last month.  There is about a 3000 point drop in 1 MONTH.  You can't really spin that to be something minor.

 

I said people are FREAKED! The Markets are driven by 2 emotions, fear and greed. Right now fear is thriving. Buck up, it is not the end of the world, there will be no great depression 2. It might be a really bad recession, but there is a difference. Recessions are part of the Business cycle, Depressions are not. Right now the dow if free falling because people are selling stock just to get rid of it... these are the same dumasses who will hide it in their matresses. Like I said I am only worried about inflation. If you are worried about inflation diversify. Get some commodies to even out your portfolio. So if it is dooms day you will still have something.

Let me remind you, that the selloff we have seen the last 7 days or so (combined) is less than the 1 day selloff in 1987 (that was like 24%). The bleeding will stop, there as just ass loads of undervalued stock waiting to be swooped. I named GM as one of them, Bank of America is a steal right now, they purchased a crap load of bad debt from Merril (which someday they will actually profit off of) and they obviously are in trouble if they can go out and spend billions to buy Merril. they are getting dragged down with the entire finance industry, and they appear to be OK, same with CITIGroup.

This is being politicized, no one wants to come out and say that things aren't as bad as people are fearing... Obama knows it will help him, and McCain knows people are freaking out, and people will think he is a retarded old goon if he tries to act like it is not as bad as people have already percieved. Bush is just listening to his advisors, I think he is kinda lost right now.

 

I am not saying this is not a mess, I am saying that things will be OK. Just diversify, some companies will go under and you don't want all your eggs in 1 basket. We will get throw this, and the people who decided to put their money in the market when it bottoms out (could be another 25% down or so) are going to get flithy rich. And it won't be average joe investor... it will be the Warren Buffets who always seem to being far ahead of the curve.

 

http://online.wsj.com/article/SB122359593027021243.html

Stocks fell for the seventh straight trading day on Thursday, continuing what amounts to a slow-motion crash that has pulled the market down more than 20% over that brief period.

On its way down, the Dow Jones Industrial Average broke through another milestone, closing below 9000 for the first time since 2003, wiping out the bulk of the gains from the last bull market. The decline leaves America in one of its worst bear markets in decades, a slump that is triggering comparisons to long-running declines of the 1930s and 1970s.

Thursday's decline -- the 11th largest in percentage terms in the Dow's history -- put the stock market either in, or nearly in, a crash. A common definition of a crash is a 20% decline in a single day or several days. The Dow's crash in 1987 was 22.6% in one day. The 1929 crash was back-to-back declines of 12.8% and 11.7%.

Ok, my point was this crash is not any worse (so far) than the 1987 crash. We recovered from that just fine. We had a recession in 90-91, but we then made it to the 90's. The feds job is to minimalize the lows of the business cycle, they failed this time. It was be a bad recession, not a depression. If you look back at 1929 you will few similarities... the only common factor is market losses. (a in the 20's they did have isolated housing market crashes)