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That the stock market will be, or will have, closed below 7000 points.
Just think, if the government had done something about this financial crisis 12-18 months ago we wouldnt be in the situation we're in right now.
The bailout plan isnt going to work, all its going to do is put the country further in debt.
Long live capitalism in the United States :thumbsup:
Regards,
Lee
I think they should nationalize the bastards. It's time government owned the special interest instead of the other way around.
After everything we've gone through lately it's no surprise the Republicans are pointing fingers blaming the Democrats. priceless.
Democrats are also pointing fingers blaming Republicans though, its a two-way street of blame right now.Quote:
Originally Posted by Squirt
The fact is, the systems that were put in place all worked well individually, but when combined as a group effort, there was a serious flaw in the system.
Im still waiting to hear what *I* am going to get out of this bailout bill, the government is using *my* tax money to bail these companies out, whats in it for me?
Regards,
Lee
Oh you didn't know? Higher credit card interest rates, fees and penalties. You are getting the pleasure of watching your investments tank. You are also getting more difficulty in being approved for credit :DQuote:
Originally Posted by Lee
I'm a firm believer that this isn't about the American public, it's about saving big business and giving them one big payout before uncle Bush looses power. The American public is only seen as a means to fund big business. we are cattle. but you knew that ;)
Bank of America bought CountryWide. CountryWide loses money. Bank of America needs to make that money up, so B of A raises fees on checking accounts and credit cards.
Ain't nothing free. Someone ends up paying! Government programs have to be paid for with tax revenues, and tax revenues come from tax payers. So, in order to bail ourselves out this year we will pay more in years to come.
I think the Pay Day Loan model is now morphing to international proportions.
I'm seeing more and more commercials for those pay day loan places. They should be outlawed.Quote:
Originally Posted by chadknowslaw
I hope Lees prediction of 7000 by next week is wrong. I don't want to see what kind of effect that will have on people.
I have heard knowledgeable people say, quietly, that it will eventually get much worse than 7000.
There is apparently talk (and a common belief) among many of the largest financial institutions that there simply isn't enough money to pour into the market to stabilize it, and so it will inevitably crash completely. The theory being that many of the market investors are waiting for that to happen, and only when it fully happens will investors feel comfortable enough to re-enter the market.
Who knows if it's true, but this seems to be a quietly held belief that many people are saying internally.
They are buying gold by the ton, seems a pretty clear indicator that you're right.Quote:
Originally Posted by gaybucks_chip
I know mom bought a bunch of gold a few weeks back, yesterday she pumped a few hundred grand in to oil also now it seems to be lowering in price.Quote:
Originally Posted by Squirt
She has pretty much pulled all of her money out of her 401k/retirement account because its losing so much money on a daily basis.
Gold is at an all-time high right now, wont be long before oil prices drop then rise to $100+ a barrel again, just needs to market to settle a little before that happens.
Regards,
Lee
Gold prices are not rising either however. Oil fell too just over $77 a barrel yesterday too~
It is my understanding there is money out there, just that those that are holding it are not willing to lend it. I tend to agree with that theory as my own actions are to hold on to cash right now and see what happens.
http://www.kitco.com/LFgif/au0030lnb.gifQuote:
Originally Posted by chadknowslaw
http://www.kitco.com/charts/livegold.html
Im not sure where you are getting that info but it is wrong, the last week gold has increased roughly 3% day after day, last time i spoke with mom she said it was above $900 an ounce.Quote:
Originally Posted by chadknowslaw
She bought in at around $850 an ounce i beleive was the price she told me.
She has, in effect, made back 50% of her stock losses in about 4-5 days, should she decide to 'sell'.
Regards,
Lee
OH and the AUD is currently $1USD = $1.55AUD
Tempting me to make a trip to OZ :D
AH, I thought I saw it at $850 but remember it being over $900
The current price of gold is....
So, if mom bought it at $850, she has lost about $6
Well the Dow closed at 8,544 today
Closer to your prediction, 2 more days to go :thumbsdown:
I find it interesting that trillions have been given to banks worldwide to get them lending again, and they aren't doing it. Shouldn't we demand the money be given back?
While the Dow was at 9500 Suze Orman predicted it would bottom out at 8200.
Trust your lesbian financial adviser.
I've loved her for years. She rocks!Quote:
Originally Posted by LavenderLounge
I've met her several times at a former job. When the camera's aren't rolling, she's a real diva bitch. But that is besides the point of this thread...Quote:
Originally Posted by Squirt
What a roller coaster week the market has had with two really up days and one really down day again. Two steps forward, one step back it seems.
At least gas and oil keep dropping. I am thrilled to have ONLY paid $2.86/gallon tonight to fill up my car!
Oh yeah it shows she's gotta be a real cunt off camera, she can barely reign herself in on camera, and that's cool, she's earned it.Quote:
Originally Posted by GL_Marc
Yeah here in NC there was a severe gas shortage for almost a month last month with gas prices going as high as $4.69 a gallon. Nice to see things reasonable now.
I'm glad the market wont go below 7000 this week :thumbsup::