Uh Oh, It looks like the market is tanking again.

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Uh Oh, It looks like the market is tanking again.

Post by DoomRyder of Cheesy Songs on Mon Oct 06, 2008 1:35 pm

Down 488 points right now. At least oil is going down to. It is under $90 a barrel right now.

http://www.bloomberg.com/markets/stocks/movers_index_dow.html
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Re: Uh Oh, It looks like the market is tanking again.

Post by MetalH on Mon Oct 06, 2008 1:38 pm

Under $90 a barrell? Wont that make it pretty cheap?? It was $108 the other day.

Well, so much for this "bailout". Wasn't it supposed to turn things around????
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Re: Uh Oh, It looks like the market is tanking again.

Post by Black Rider on Mon Oct 06, 2008 1:39 pm

There's too many questions right now. The bailout is a band aid on a bigger problem.
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Re: Uh Oh, It looks like the market is tanking again.

Post by MetalH on Mon Oct 06, 2008 1:41 pm

Yeah... Why should our tax dollars go to bailout people that shouldn't have been getting loans anyway? I really wish McCain would stand up against this like Palin wants to.
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Re: Uh Oh, It looks like the market is tanking again.

Post by Black Rider on Mon Oct 06, 2008 1:49 pm

McCain seems to be on the defensive where Palin is taking it out there. I don't love McCain but Obama is starting to frighten me.
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Re: Uh Oh, It looks like the market is tanking again.

Post by MetalH on Mon Oct 06, 2008 1:51 pm

Ugh, the thought of having him as POTUS is just downright frightening to me. Maybe it's what we need... Four years under a lib to get people to realize that Bush wasn't so bad. And maybe it'd kick the Repubs into gear!
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Re: Uh Oh, It looks like the market is tanking again.

Post by Black Rider on Mon Oct 06, 2008 2:10 pm

Bush has been horrible for the economy this last term and has dissapointed me greatly. It doesn't make me want a tax and spend lib though.
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Re: Uh Oh, It looks like the market is tanking again.

Post by MetalH on Mon Oct 06, 2008 2:10 pm

Yeah.... I'm not really a huge McCain fan, but jeez.... Obama??
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Re: Uh Oh, It looks like the market is tanking again.

Post by spiritinsideme on Fri Oct 10, 2008 6:03 pm

obama's bad news in my book. He's only speaking in generalities and his whole campaign is made of blanket statements
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Re: Uh Oh, It looks like the market is tanking again.

Post by MetalH on Fri Oct 10, 2008 6:47 pm

Do you still have a beard like that? If so, I'm jealous.......
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Re: Uh Oh, It looks like the market is tanking again.

Post by Tall Tyrion on Fri Oct 10, 2008 10:56 pm

Hey baby.... check out my hands....

http://www.jibjab.com/view/146515

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Re: Uh Oh, It looks like the market is tanking again.

Post by DoomRyder of Cheesy Songs on Sat Oct 11, 2008 11:43 am

The Obama National Anthem will change your guys' minds!

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Re: Uh Oh, It looks like the market is tanking again.

Post by exo on Wed Oct 22, 2008 2:35 am

see, here's how this will all end up shaking out, economically.....our financial institutions gave out a TON of money to people who never should have received mortgages (or credit cards....r even CREDIT to begin with), because of where they're financial situations were at....They then started playing the "shuffle the paper" game, selling off these risks to other companies, and investment firms that werent' content to reap the long term profits to be had in the mortgage market (my $73 k mortgage at 6% we got 6 years ago, I will will end up paying out over $150 k over the 30 year life of it, just for an example.), and saw that there were HUGE profits to be had in th eoil markets, via this same strategy of buying up low, and selling off high......and in the meantime, they drve the gas prices thru the roof.

These people that got ARMs and coud BARELY affor them when they got them were suddenly no longer to pay all their bills, and ended up defaulting on their mortage payment.....which dissolved the liquidity of the investment firms assetts, meaning they suddenly didn't have the required capital for their day to day operations.

In short, what they did was essentially no different than a utility company buying a low income housing project because the profits looked good, and then, not content with double dipping on both the rent AND the utilities, decided to inform the existing tenants that the utilities were no longer included in the rent, AND the cost of those utilities just went up! with the additional utility bills, the tenants can't pay the rent, and with no-one paying the rent, there's no-one paying the utilities either! Suddenly, the utility company has a crapload of capital invested in something that can't make them any money, AND is killing their primary source of fresh capital......



They were in a gigantic "OH CRAP!!!!" situation, and no longer had the funds to run, much less to meddle in the oil business.....and without the speculating, the oil markets are descending back to where they would be if the speculation hadn't gotten out of hand like it did......the problm being, they were SO short on capital funds, and these firms SO hooked into the economy, that if they stoppd operations, the economy dissappears into a black hole....




the bailout wasn't EVER going to turn the economy around, it was to keep it from collapsing totally.....


Give it a few more months of shaking out like this, and let the oil
prices continue to settle....and you will see an economic turnaround
happen faster than most of the "talking head" types realize....That's the single biggest factor in whats going on and driving the inflation we're experienceing.


MetalH, you should know the correlation between higher cost to transport goods and higher prices on the shelves just as well as I, seeing as we're both in the grocery industry......
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Re: Uh Oh, It looks like the market is tanking again.

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