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Forums - General - DOW down by 778. Worst point drop in HISTORY.

Jackson50 on 29 September 2008
Aiemond said:
Jackson50 said:
These ninnies on Wall Street have been relying too long on the milk from the government's teat.

 

So what about all those close to retirement with 401ks? Or those who lose their job if businesses can't make credit for payroll etc? Guess those middle class workers are out of luck.

If you are truly worried about businesses not being able to make payroll, lower the capital requirements for banks. It may have flaws, but not nearly as many as a $700 billion bailout. All a bailout will do is saddle the government with more debt and encourage more risk. 

 



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ssj12 on 29 September 2008
Sylvarantinc said:
It's bad, but popping the bubble that is the current finance system hurts.
The US government dept is something way more concerning in my perspective though, it's like 10 trillion or
something, I think thats what needs some urgent fixing

 

48.7 trillion actually

 

anyways, this is bad. Why did the house slam this plan? it seemed to actually be not that bad. Frankly it could have helped a lot of problems. Thanks to our house reps for being idiots.



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O-D-C on 29 September 2008

wow what a hit....

hope this all works out soon...

but it wont. :(



Coca-Cola on 30 September 2008
Aiemond said:
Coca-Cola said:
It's bad for sure.
but at least the oil is down.
the market will stablize and hopefully gain in near future.

 

How? Who is gonna loan out the money? Not Europe for sure, they are tanking just as hard. Not US banks, they won't be loaning anything out. So that means payrolls, etc may not be met. This is serious, this is not something the market is going to correct easily. HOW is it going to correct, give me specifics please cause you have not said anything other than bail out is bad. Show us you know why and how the market will fix itself.

it might not fix itself too soon, but the bail out will not solve the problem.  most people thought the bailout will pass but the dow jones started going down before the decision not to pass it was made known.  meaning even if the bailout passed, it would not have fixed any problem whatsoever.

again, there are websites that explains the situation.

http://market-ticker.denninger.net/

I get the info. from this site.

there are rough days ahead but the bailout would have made things much much worse.

 

 



superbeast1370 on 30 September 2008

This is bad.



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megaman79 on 30 September 2008

Politically its great, McCain suspends his campaign to fix the crisis then when it falls over it was his own parties fault primarily. 60% Rep. 35% Dem.

Economically its a real shit sandwich and not only the US but Europe, Asia and many other markets are going to crash and burn because of this.



“When we make some new announcement and if there is no positive initial reaction from the market, I try to think of it as a good sign because that can be interpreted as people reacting to something groundbreaking. ...if the employees were always minding themselves to do whatever the market is requiring at any moment, and if they were always focusing on something we can sell right now for the short term, it would be very limiting. We are trying to think outside the box.” - Satoru Iwata - This is why corporate multinationals will never truly understand, or risk doing, what Nintendo does.

Supernova82 on 30 September 2008

The worse the US economy becomes the better the Democrat chances are of winning the Presidential election. Barrack Obama for the Presidential Win.

The dodgy Wall street traders combined with the incompetent economic manager in President George W. Bush will also lead to a voter backlash against the Republicans.

Republican US Government combined with corrupt Wall street traders have contributed 90% towards the US financial crisis.



Supernova82 on 30 September 2008

The plus side of a fall in the stock market if you have some spare cash you can pick up some discounted shares that will more than likely go back up in price.

The share market will hopefully go back up in the future. For every 6 years of growth there is one year of losses. So in the long run you should hang on and ride out the hard times.