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Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 10:47:02 GMT -5
Anyone notice the Dow is down over 300 points on economic uncertainty.
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nalto
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Post by nalto on Aug 4, 2011 10:48:12 GMT -5
Yes, but if I don't pay attention, it isn't happening.
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Post by BeenThere...DoneThat... on Aug 4, 2011 10:48:38 GMT -5
...head in the sand, SF, head in the sand... so don't mess with my nap, okay?
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safeharbor37
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Post by safeharbor37 on Aug 4, 2011 11:25:48 GMT -5
"Stocks plunge on rising fears of global slowdown" ~ money.msn.com/ [if you say so] "Anyone notice the Dow is down over 300 points on economic uncertainty." [yeh] The real question is how it got this high in the first place. "Strangely most of the factors currently feeding the renewed bout of negative sentiment were already with us months ago. In the US fears of a double-dip recession are again beginning to surface. Unemployment remains stubbornly high unemployment and there seems little hope of any immediate improvement for the 8 million people who lost jobs. US housing is a basket case. Foreclosures remain high, home sales are none existent, and values continue to decline. All this is keeping consumer and business confidence fragile. And the Government stimulus package is basically all but finished with only the massive debt remaining for future generations to repay. In China, government authorities are trying to rein in a housing price boom through tighter credit controls on construction. Solid domestic demand is tempered by slow demand for Chinese products outside of China and to top things off there are currency tensions between China and the US. In Japan CPI remains ‘locked’ in a deflationary spiral and whilst falling prices may sound appealing, falling prices impede economic growth as companies and households tend to postpone spending. In Europe the big issue is debt, in particular the lingering fears of Sovereign debt and its impact on the banking sector. Question marks remain over the high levels of debt in Greece, Spain, Ireland, Italy, Portugal and Britain. Most of these factors are not new. What has changed is the way the financial markets are choosing to view them." www.stock-market-prowess.com/what_really_drives_the_stock_market
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Value Buy
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Post by Value Buy on Aug 4, 2011 11:25:55 GMT -5
Ah, but the debt crisis was averted. It was to be okay.......... Listening to anyone in D.C. is a folly.
All of a suddden even oil is on the outs.....
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Angel!
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Post by Angel! on Aug 4, 2011 11:28:50 GMT -5
I am excited. For once my 401K withholdings on going in on a low day & I just upped my withholding.
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Value Buy
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Post by Value Buy on Aug 4, 2011 11:30:11 GMT -5
I am excited. For once my 401K withholdings on going in on a low day & I just upped my withholding. They go in on Thursday?
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dancinmama
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Post by dancinmama on Aug 4, 2011 11:30:21 GMT -5
I just got back from my morning walk and the first thing I did was turn on the business channel. I expected to see the market down, but was surprised to see it down over 300 points.
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Deleted
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Post by Deleted on Aug 4, 2011 11:39:41 GMT -5
ugly
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on Aug 4, 2011 11:44:10 GMT -5
from an AP story an hour ago ... The Dow Jones industrial average dove more than 350 points, erasing its gains for the year.
Dow is down 359 points, or 3 percent, to 11,538 in midday trading. The S&P 500 is down 42, or 3.4 percent, to 1,218. The Nasdaq composite is down 94, or 3.5 percent, to 2,598.
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Post by BeenThere...DoneThat... on Aug 4, 2011 11:46:44 GMT -5
...boy, you guys are messing with my afore-mentioned nap...
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billisonboard
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Post by billisonboard on Aug 4, 2011 11:51:15 GMT -5
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floridayankee
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Post by floridayankee on Aug 4, 2011 12:49:13 GMT -5
...boy, you guys are messing with my afore-mentioned nap... Good thing we upped the debt ceiling, eh?
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Angel!
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Post by Angel! on Aug 4, 2011 13:08:17 GMT -5
I am excited. For once my 401K withholdings on going in on a low day & I just upped my withholding. They go in on Thursday? Yeah, Thursday night. I've always though it odd because we don't even get paid until Friday.
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midjd
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Post by midjd on Aug 4, 2011 13:17:19 GMT -5
Me too, Angel! Actually (and this usually bugs me) our 457 contributions are only made once per quarter, and they are going in tomorrow. Great timing! Unless it drops another 300 points per day for a few months... I usually log into my Schwab account around lunchtime just to see what's up... today I took one look and exited out. Scary. I've only been in the market for about a year now and this is definitely the worst day
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Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 13:29:55 GMT -5
Down almost 400(2:30PM EDT) Imagine how this is affecting public pension plans...
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Deleted
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Post by Deleted on Aug 4, 2011 13:43:30 GMT -5
Anyone notice the Dow is down over 300 points on economic uncertainty.
The markets hate uncertainty & hate bad news. If I had to guess the economic problems we have & the failure to cut spending will make the Dow drop another 500 to 700 points & that's not counting what it's dropped so far.
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verrip1
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Post by verrip1 on Aug 4, 2011 13:57:41 GMT -5
I think the market is poised to go down thirty bazillion points so that the Koch Brothers can wipe out George Soros, then try to take over the world.
Pinky: "What are we going to do tonight, Brain?" Brain: "Same thing we do every night, Pinky. Try to take over the world."
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verrip1
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Post by verrip1 on Aug 4, 2011 13:59:37 GMT -5
No way the US can pay SS or military pay after a debacle like this. We're totally screwed now. Damned Tea Party just screwed the pooch.
It's free fall time.
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floridayankee
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Post by floridayankee on Aug 4, 2011 14:20:54 GMT -5
Down almost 400(2:30PM EDT) Imagine how this is affecting public pension plans... Let's all party like it's 1929!
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 4, 2011 14:23:21 GMT -5
Well, kids- the end is not near.
It's here.
The full blown meltdown began in May. I said earlier than that that the US had several weeks to a few months to dramatically turn around the fiscal situation- emergency, permanent tax relief; immediate cuts back to 2005 - 2008 levels of spending...
We didn't, and now with the Yen in full out collapse; and the EU financial disaster coming home to roost, combined without our obvious, unrepentant reckless spending-- we're at the tipping point.
I said we'd cut spending or it would be cut for us. I'm sorry that we've chosen the latter.
Buckle up. It's gonna be a bumpy ride.
Did you buy food? You probably have a week or so to get it done.
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Angel!
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Post by Angel! on Aug 4, 2011 14:29:27 GMT -5
Did you buy food? You probably have a week or so to get it done. I PBP. Please do share why the US is going to become so torn apart there will no longer be food to purchase in the supermarkets.
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Deleted
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Post by Deleted on Aug 4, 2011 14:30:57 GMT -5
I think I'm going to get some peanut M&Ms from the snack machine.
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EVT1
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Post by EVT1 on Aug 4, 2011 14:35:34 GMT -5
I could care less if the DJIA falls 4000. If all else fails I have some land in the hills with food living on it, plenty of guns and ammo, and neighbors all around that don't take kindly to strangers. 100% off the grid. Not worried though- the economy will be fine.
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Deleted
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Post by Deleted on Aug 4, 2011 14:36:39 GMT -5
I PBP. Please do share why the US is going to become so torn apart there will no longer be food to purchase in the supermarkets.
I'm thinking that he's hinting that debt is going up, interest rates will go up, taxes are going up (to pay for debt & spending). One of the big ways that they can increase taxes is on gas tax. (I point that out about a year ago). So...Your going to pay more at the store because it's going to cost more to ship it & guess who pays that extra cost?
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Post by BeenThere...DoneThat... on Aug 4, 2011 14:37:33 GMT -5
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Deleted
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Post by Deleted on Aug 4, 2011 14:38:34 GMT -5
I think I'm going to get some peanut M&Ms from the snack machine. ugh. they were good, but I really didn't need them.
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Deleted
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Post by Deleted on Aug 4, 2011 14:39:04 GMT -5
Can't wait to hear how this was President Bush's fault (or the republicans). After all Bush left office over 2 years ago & the Republicans only control the house.
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Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 14:41:56 GMT -5
Please do share why the US is going to become so torn apart there will no longer be food to purchase in the supermarkets
There was a guy on from some national farming industry group last night on the Lehrer News Hour going over problems in the farming industry regarding irrigation, and that they are expecting very poor harvests this year.
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Angel!
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Post by Angel! on Aug 4, 2011 14:43:00 GMT -5
I think I'm going to get some peanut M&Ms from the snack machine. ugh. they were good, but I really didn't need them. Thanks for keeping us updated. I know I was concerned about your M&M situation.
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