Dow loses 300, closes at 6700!!!

EA · #1 03-02-2009, 03:53 PM

I thought the bottom of this free-fall would be 6500, but we may go even lower.

Also, the House is debating another emergency spending bill of 410 billion dollars - as we speak.

pelathais · #2 03-02-2009, 03:58 PM

We have nothing to fear but fear itself... and I'm afraid of the Democrats having the unbridled ability to keep on spending.

FDR proved that you can't spend your way out of a bad economy. The Great Depression never really ended until Eisenhower took over in 1952, and one of the first things he did was to cut taxes.

The resulting boom lasted until Johnson's Great Society and Nixon's "prize freezes" set everything up for Jimmy Carter's stagflation and malaise.

One nice thing though... I saw gas at $1.49 on the way to work. Bad economy = lower energy costs.

EA · #3 03-02-2009, 04:25 PM

"As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively.
www.usatoday.com

EA · #4 03-02-2009, 04:27 PM

That, my friends, would mean that the stock market will bottom out at 1/3 of its October 2007 value.

Amazing.

StillStanding · #5 03-02-2009, 04:29 PM

Quote:

Originally Posted by Edward Anglin

That, my friends, would mean that the stock market will bottom out at 1/3 of its October 2007 value.

Amazing.

I have played the stock market very conservatively, and I've still lost $1,500 since the first of the year!

deltaguitar · #6 03-02-2009, 04:39 PM

I just checked my IRA. Down over half. I just wish I had more to invest right now. I need to buy during this down market.

Elizabeth · #7 03-02-2009, 04:42 PM

Glen Beck on FNC is telling everyone to get out of the stock market.

I think we have lost 2k (not as much as other folks) since the market started dropping.

Ron · #8 03-02-2009, 04:54 PM

Nobody lost anything.

n david · #9 03-02-2009, 04:55 PM

Quote:

Originally Posted by pelathais

We have nothing to fear but fear itself... and I'm afraid of the Democrats having the unbridled ability to keep on spending.

FDR proved that you can't spend your way out of a bad economy. The Great Depression never really ended until Eisenhower took over in 1952, and one of the first things he did was to cut taxes.

The resulting boom lasted until Johnson's Great Society and Nixon's "prize freezes" set everything up for Jimmy Carter's stagflation and malaise.

One nice thing though... I saw gas at $1.49 on the way to work. Bad economy = lower energy costs.

This would be hilarious if it wasn't so serious! Dems love to spend though .... so much for those terrible Bush spending increases they complained about last year.

Wish I lived by you. Gas in AZ has steadily climbed from 1.50 in early january to over $2 now. It's stayed relatively the same the past couple weeks though.

Quote:

Originally Posted by Elizabeth

Glen Beck on FNC is telling everyone to get out of the stock market.

Nice! Just compound the problem and make the market REALLY tank. wtg Beck!

Aquila · #10 03-02-2009, 04:56 PM

The Democrats can't fix this. The Republicans and unfettered greed in the banking industry has broken our country. Welcome to the United States of Brazil.