Author Topic: Stock Market Crashing??  (Read 990 times)

Offline P1Tiger

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Stock Market Crashing??
« on: September 29, 2008, 07:04:31 PM »
i didnt believe it would happen in my life time and here it is, i started to crash this morning
700 billion dollar bail out, and 66% of republicans voted no?
why? :confused:
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Offline Newman5

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Re: Stock Market Crashing??
« Reply #1 on: September 29, 2008, 07:06:23 PM »
O'Club
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Offline P1Tiger

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Re: Stock Market Crashing??
« Reply #2 on: September 29, 2008, 07:08:43 PM »
O'Club
oops my bad, lil tired today  :rolleyes:
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Offline A8TOOL

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Re: Stock Market Crashing??
« Reply #3 on: September 29, 2008, 07:21:17 PM »
I'm not sure but the news will tell us part of the story.

Many times reps vote no to stop dems from dipping their grubby little paws in the pot.

Turning news on now.

Offline titanic3

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Re: Stock Market Crashing??
« Reply #4 on: September 29, 2008, 07:34:14 PM »
Told you people.... :noid

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Offline Warspawn

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Re: Stock Market Crashing??
« Reply #5 on: September 29, 2008, 07:55:04 PM »
Most of the Democrat's henchmen were running the failing mortgage companies.  Then the Dem's tried to say "HEY, we've got a fix" as a ploy to influence the upcomming presidential vote.

It's like letting the foxes run the chickencoop.  Let the free market sort it out.  The people who risked the money, lose the money.  If I gamble in Vegas, I understand that I need to accept certain risks.

The Dem's in charge of the mortgage industry (Freddy/Fannie) kept saying how stable it was, and how we needed to ignore traditional lending practices like income and credit history in order to get more immigrants and minorities housing.  Now they're not paying.  Now they're looking for the rest of us to bail them out of the gamble they tried.

I say let 'em sink or swim, without my $10,000 that they're estimating it's going to take every working American to bail out the big companies with their huge bonuses to CEO's for inflated earning statements....
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Offline humble

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Re: Stock Market Crashing??
« Reply #6 on: September 29, 2008, 08:06:32 PM »
It's an O'club topic but the simple reality is that the melt down is fake to a large degree. The bottom line is that a lot poor business practices were allowed. In some ways this ties back to the BK reforms that further allowed unsecured credit to be sold as a securities instrument. AIG and others actually are in worse shape from this type of gamble then mortgages. Funny that we can let major airlines go under but the moment the silver spoon set gets ruffled we have to bail out Skipper and Buffies trust funds. Absolutely nothing wrong with letting them all go BK. Remember that no assets are lost in a business BK only debt.

Let the chips fall where they will, in 2-3 years we'll be much better off. If this "aid package" actually passes we'll be in the financial stone age for a decade or more as we tumble to a true depression. Let everyone who cant weather the storm go down and then pump money in to support new growth...not to pay off bad debt. Every one of these companies made billions on the way up...let em lose them on the way down.

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Offline macerxgp

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Re: Stock Market Crashing??
« Reply #7 on: September 29, 2008, 08:15:20 PM »
I agree. Where the hell did the government plan to get that seven hundred mil, anyway? You can't spend.what you neve had.
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Offline Anaxogoras

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Re: Stock Market Crashing??
« Reply #8 on: September 29, 2008, 08:32:02 PM »
IN
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Offline humble

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Re: Stock Market Crashing??
« Reply #9 on: September 29, 2008, 08:35:38 PM »
I agree. Where the hell did the government plan to get that seven hundred mil, anyway? You can't spend.what you neve had.

Not 700MM but 700 billion. The problem is the 7% single day adjustment took 1.2+ trillion off the top. So even a 700 billion plan would still have a 500MM shortfall. The problem is that you have trillions of $$$ in bad debt that has to go...now or later. The longer companies can carry this bad debt via accounting slight of hand the worse it will be. If we go back and look at ENRON the simple truth is that they did nothing that wasnt common, they just bet wrong a few years to early. Hell now they'd be at the front of the line for a bail out.

Buying bad debt wont create jobs or add to the GNP, any $ spent now for that purpose cant be lent to GM or US Air (2 at random) later. Let the market correct now and then funnel $$$ into the economy at the bottom. Any "soft landing" will just artificially delay recovery as companies hold losers hoping to get a bail out. You could actually accomplish more by voting a 100 Billion dollar amount and have companies bid a % for bad debt. The gov will retire bad debt to the lowest % bidders on bad mortgages then resell them or lease them. Everyone left standing is on there own. Then pump the other 1/2 trillion into the economy in a year to jump start it once we've hit bottom.

"The beauty of the second amendment is that it will not be needed until they try to take it."-Pres. Thomas Jefferson

Offline BillyD

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Re: Stock Market Crashing??
« Reply #10 on: September 29, 2008, 10:05:36 PM »
 :aok Snaphook

that solution is brilliant and makes sense. It doesn't have a chance in hell.

:)
« Last Edit: September 29, 2008, 10:10:48 PM by BillyD »
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Offline oakranger

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Re: Stock Market Crashing??
« Reply #11 on: September 29, 2008, 10:18:11 PM »
History will repeat it self.  American time to step down as a powerful country is coming and China will take over.  You can thank the CEOs who want more and more money
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Offline Warspawn

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Re: Stock Market Crashing??
« Reply #12 on: September 29, 2008, 10:38:38 PM »
It's an O'club topic but the simple reality is that the melt down is fake to a large degree. \

 Funny that we can let major airlines go under but the moment the silver spoon set gets ruffled we have to bail out Skipper and Buffies trust funds. Absolutely nothing wrong with letting them all go BK. Remember that no assets are lost in a business BK only debt.


LET THEM BURN!

they rolled the dice in Vegas with their investments, let them reap what they sow.  Sorry, but seeing hundreds of millions of dollars going to people at the top of the food chain, and then seeing them CRY for federal bail out when they get bit in the arse for their paper fortress...

Let 'em burn baby....
Purple haze all in my brain
Lately things just don't seem the same
Actin' funny, but I don't know why

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Offline humble

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Re: Stock Market Crashing??
« Reply #13 on: September 29, 2008, 10:43:01 PM »
Thats actually a bit of a stretch. While China is by far the largest market in overall potential its ability to successfully market products to other markets is somewhat lacking. India is a much more viable threat (along with Brazil) as up and coming economic super powers. So far the real issue seems to be who will capture the import market for China...not what China will export. The current US struggles are a direct result of an increasingly low standard for domestic leadership and tolerance of corruption and stupidity. We suffer from massive corruption all the way down to the city level (of all sizes). what's really needed is some serious accountability for all the pork barrel graft and out right criminal activity by our elected officials (among others)...

All you need to do is look at our current choices, neither of them is even remotely qualified for the task at hand. We now have government by the lowest common denominator and its showing. It wont matter who "wins" since the end result is going to be the same....we'll see a mixed "bail out" that will make billions for a select few and send us into a true depression. hopefully we'll actually elect some truly independent congressmen (vote every incumbent out on both sides) who initiate a real probe into the current broken system and roll a few heads. If you can put CEO's in jail you can put serving congressmen there as well.



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Offline thndregg

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Re: Stock Market Crashing??
« Reply #14 on: September 29, 2008, 10:52:22 PM »
This does indeed need to be moved to the O' club, of which I made a rare visit there and repiled to a relevant topic, because there are things we can all do to survive what may come.

"It's times like this I am thankful for how I choose to lead my life, and raise my sons.
-I own my home. A used three-bedroom mobile home that cost all of $5000. Very humble.
-All of the vehicles my wife and I own, and we do indeed own them. An '86 Toyota pickup, a '95 Buick LeSabre, a '79 Trans Am, an '81 Ramcharger, and an '87 Dakota.
-We live on 10 acres out of town. The land has been in our family since the mid 1940's. My dad currently owns it, and it will eventually come down to my brother and myself. Therefore, food can be raised, money can be earned, enabling us to survive tough times.
-We have NO credit cards. If we do not have the cash, we don't buy it.
-For now, while I am employed, I work only six miles down the highway, so the high price of gas does not impact us too severely. (Guess which two vehicles I prefer to commute with regularly.)
-The only bills I pay are 1)Power, 2)Landline/Internet, 3)Cell phones, 4)Auto Insurance, and 5) Half of the property tax for the farm. My dad takes up the other half.

I just prefer to keep our finances as simple as we can make them, especially during times like this."

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