By The End Of Next Week I Predict...

**Lee** · 10-10-2008, 02:32 PM

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

**Squirt** · 10-10-2008, 04:13 PM

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.

**Lee** · 10-10-2008, 04:16 PM

Originally Posted by Squirt

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.

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

**Squirt** · 10-10-2008, 04:34 PM

Originally Posted by Lee

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?

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

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

**chadknowslaw** · 10-10-2008, 04:48 PM

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.

**Squirt** · 10-10-2008, 05:07 PM

Originally Posted by chadknowslaw

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.

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.

**gaybucks_chip** · 10-10-2008, 05:22 PM

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.

**Squirt** · 10-10-2008, 05:44 PM

Originally Posted by gaybucks_chip

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.

**Lee** · 10-10-2008, 05:47 PM

Originally Posted by Squirt

They are buying gold by the ton, seems a pretty clear indicator that you're right.

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.

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

**chadknowslaw** · 10-10-2008, 05:48 PM

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.

**Squirt** · 10-10-2008, 06:03 PM

Originally Posted by chadknowslaw

Gold prices are not rising either however.

http://www.kitco.com/charts/livegold.html

**Lee** · 10-10-2008, 06:06 PM

Originally Posted by chadknowslaw

Gold prices are not rising either however.

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.

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