Stock market in a free fall

[BrianFifaFan]

Re: Stock market in a free fall

Oklay, guys let's keep this as apolitical as possible. Also, a request that we chill with the *****'s please. Thanks, Brian

[McLite]

Re: Stock market in a free fall

Down 500 points for the day. Geez...the biggest drop in 1 day since after 9/11.

Everything goes in cycles. It will turn around eventually. At times like this it's nice to have a 30 year mortgage and a government job though.

[McLite]

Re: Stock market in a free fall

And one of the main reasons for this problem is the greedy mortgage people that sold houses the last 3 years.

It turned into everybody and their mom becoming realtors/mortgage brokers and doing whatever they could to sell the houses. Getting people in ARM's and whatever else and now these huge mortgage companies are paying the price.

[fistofrage]

Re: Stock market in a free fall

Amen. Remember how JFK wanted us off the thing, and issued the Silver Certificates. The bankers weren't to fond of him for that, nope..they didn't like it at all.

It goes much deeper than that. Our economy was/is too big to be secured by precious metals. Besides that, we used up a ton of gold to pay for Vietnam.

This is just the market correcting itself backs to its tangible worth.

[EWRMETS]

Re: Stock market in a free fall

The fundamentals are fine. Its the companies that don't actually make/sell anything that are in trouble. When you continually borrow more money and your only real profits are on paper and not on anything tangible, i.e. no real cash coming your way, if the market/investments go south, you can lose a lot. They stretched themselves too far and now they are paying for it. Its what the free economy does, lets business fail when they are stupid and make the wrong decisions.

The reason why this is happening is because of subprime mortgages which has caused great losses to banks that is now spilling over to other industries. I think your analysis sums up the dot com bubble burst better than the current financial crisis.

[EWRMETS]

Re: Stock market in a free fall

And one of the main reasons for this problem is the greedy mortgage people that sold houses the last 3 years.

It turned into everybody and their mom becoming realtors/mortgage brokers and doing whatever they could to sell the houses. Getting people in ARM's and whatever else and now these huge mortgage companies are paying the price.

I agree that this is part of the problem but shouldn't the "innocent" homebuyers also share some of the blame. They should never have been able to get mortgages but at the same time, they should have had the restraint to not spend above their means. This is why I have a problem with bailing out people in danger of forceclosures.

[stewaat]

Re: Stock market in a free fall

I am losing a great amount of money and it is terrible. This needs to turn around and somebody needs to figure it out, please!

Down a little over 10%...days like this are depressing.

[McLite]

Re: Stock market in a free fall

I agree that this is part of the problem but shouldn't the "innocent" homebuyers also share some of the blame. They should never have been able to get mortgages but at the same time, they should have had the restraint to not spend above their means. This is why I have a problem with bailing out people in danger of forceclosures.

Amen to that as well. A fool and his money are soon parted. In this day and age though a lot of people don't understand what they are getting into until it's too late. It's a combination of "a sucker is born every minute" and trying to live the American dream.

Out here in Vegas we have 3-5 foreclosures on every block it seems like. I work in a relatively middle class section of town and it's sickening to see these 2 story, 4 br, 2000+ square ft homes just sit vacant when people paid 375k and more in the past 3-5 years to buy them.

[McLite]

Re: Stock market in a free fall

I am losing a great amount of money and it is terrible. This needs to turn around and somebody needs to figure it out, please!

Down a little over 10%...days like this are depressing.

I don't think there is a quick solution. It will take a good 6 months to a year before things start to climb back up to where they were.

Just remember...as my Grandpa used to say during times like these. Yes it's tough, and yes we lost money, but remember it's just on paper.

Now when you start having to lose actual possession (house, car, etc...) then things are getting serious.

[stewaat]

Re: Stock market in a free fall

I don't think there is a quick solution. It will take a good 6 months to a year before things start to climb back up to where they were.

Just remember...as my Grandpa used to say during times like these. Yes it's tough, and yes we lost money, but remember it's just on paper.

Now when you start having to lose actual possession (house, car, etc...) then things are getting serious.

Good advice. It's a LONG TERM investment anyways...however I still want to move some into low risk securities with a fixed rate of return. It would still make money and I could sleep easier. Days like these are tough to swallow.

I'm not going to lose anything tangible so I guess I should just relax.

[SPTO]

Re: Stock market in a free fall

I don't think there is a quick solution. It will take a good 6 months to a year before things start to climb back up to where they were.

I dunno, I was watching a little of CNBC and this expert (I didn't see the full interview) was talking about the brokerage firms, housing market and general downturn. He basically says there may be more investment banking problems in '09 and the housing market isn't going to be any great shakes. He basically paints a grim picture of how '09 could be more of the same and possibly worse.

[Stumbleweed]

Re: Stock market in a free fall

At times like this it's nice to have a 30 year mortgage and a government job though.

Testify! I'm 23 and in that position, so I definitely consider myself lucky.

[vinny]

Re: Stock market in a free fall

I am losing a great amount of money and it is terrible. This needs to turn around and somebody needs to figure it out, please!

Down a little over 10%...days like this are depressing.

Put options

Edit - Nevermind since you are just doing longterm...

[bigeastbumrush]

Re: Stock market in a free fall

I work for one of the companies making headlines today.

I won't say which one but

[gta95]

Re: Stock market in a free fall

You know guys, this my end up within the next few months to be the best time to invest. You wanna buy low into certain industries before the stocks shoot up again