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

cwbys21 on 13 October 2008

I don't think anything would surprise anyone at the moment nj5.



God hates console fanboys.

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konnichiwa on 13 October 2008
NJ5 said:
DMeisterJ said:
Dow is up 938.39 points.

Back above 9k

Recession's gone?

lulz.

A few weeks ago everyone thought a crisis like this couldn't happen. What the stock market says is by no means definitive ;)

I wouldn't be surprised if all these gains were lost by the end of the week.

 

=p Their is nothing wrong with being optimistic.  The way you think now is one of the reasons why so many people are taking their money from the banks and makes the financial crisis even worse;

 






NJ5 on 14 October 2008
konnichiwa said:
NJ5 said:
DMeisterJ said:
Dow is up 938.39 points.

Back above 9k

Recession's gone?

lulz.

A few weeks ago everyone thought a crisis like this couldn't happen. What the stock market says is by no means definitive ;)

I wouldn't be surprised if all these gains were lost by the end of the week.

 

=p Their is nothing wrong with being optimistic. The way you think now is one of the reasons why so many people are taking their money from the banks and makes the financial crisis even worse;

 

I'll reserve my optimism for when the $62 trillion pyramid (it's a Ponzi scheme really) of credit default swaps is demolished. Until then, every bank is a candidate for bankruptcy.

 



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FishyJoe on 15 October 2008

It didn't even take til the end of the week. The Monday gain is pretty much all gone now.



kitler53 on 15 October 2008
FishyJoe said:

It didn't even take til the end of the week. The Monday gain is pretty much all gone now.

 

horray?



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DMeisterJ on 15 October 2008
FishyJoe said:

It didn't even take til the end of the week. The Monday gain is pretty much all gone now.

What are you some kind of Masochist or something?

Sheesh.

These dark billowing clouds you're carrying around with you really kill my buzz.



NJ5 on 15 October 2008
DMeisterJ said:
FishyJoe said:

It didn't even take til the end of the week. The Monday gain is pretty much all gone now.

What are you some kind of Masochist or something?

Sheesh.

These dark billowing clouds you're carrying around with you really kill my buzz.


We're just being realistic here. Better than getting all happy when the stock market goes up for a day. Heck, I'm pretty pessimistic these days and not even I expected this big a drop today.

The stock market is nothing more than a casino where people gamble on the economy.

Don't read this if you want to be optimistic:

http://biz.yahoo.com/ap/081015/wall_street.html

 



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DMeisterJ on 15 October 2008
NJ5 said:
DMeisterJ said:
FishyJoe said:

It didn't even take til the end of the week. The Monday gain is pretty much all gone now.

What are you some kind of Masochist or something?

Sheesh.

These dark billowing clouds you're carrying around with you really kill my buzz.


We're just being realistic here. Better than getting all happy when the stock market goes up for a day. Heck, I'm pretty pessimistic these days and not even I expected this big a drop today.

The stock market is nothing more than a casino where people gamble on the economy.

Don't read this if you want to be optimistic:

http://biz.yahoo.com/ap/081015/wall_street.html

Oh, I'm not happy, or optimistic.

I know things aren't good, but damn, you guys make it seem like the world is going to explode and we're all going to die.



FishyJoe on 15 October 2008

Please keep your emotions in check. This is the news of the day for better or worse. If you don't like it then don't read these threads. Some of us actually find it interesting to discuss the state of the economy. If some of us have a pessimistic view based on logic and facts, I don't see the problem in rationally discussing it.



NJ5 on 15 October 2008

An informative but quite strange article:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/14/AR2008101403140.html?hpid=topnews

Parts such as:

Treasury officials were probing deeper into the books of the nation's banks and concluding that there were so many troubled assets that simply using government cash to buy them up -- the strategy Paulson had pitched -- wouldn't be enough to jump-start the markets. The troubled bank Wachovia alone had $312 billion in such assets.


Fantastic how they are making it seem like they didn't know how many such assets there were out there. Seems like either BS or naivety to me.

Or:

If the government makes a $10 billion capital investment in a bank, that bank would be entitled to increase its lending by $100 billion or more.

But if the government were to buy $10 billion in troubled assets, it would free up only $10 billion for lending.

Let's hope they lend that to the right people this time... like someone who can pay it back. This part also made me go WTF in a similar way to the one above.

I just hope they're regulating the banks to ensure this capital injection doesn't make things even worse.

 



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