wow...
i guess it looks like the end of the 'buy and hold' century, post war expansion, world by the arse period our parents enjoyed is definitely ending...
If the baby boomers pull their money out of the stock market, we'll see panic selling worse than 1987.
Replies
97
SoWal Insider
Other than that, have an amazing Happy St. Patrick's Day!
:shock: After reading this thread again, I think I need to start celebrating NOW.
sorry that you bet and lost robertsondavies ... $2 a share ... wow!
Beach Fanatic
This thread is basically terrifying. I keep coming back and checking someone would offer a convincing rebuttal so I can sleep.
Beach Fanatic
That brought a smile to my face. I hope that Dr. Roberts is wrong, but it doesn't look like it.
If you have money in the stock market, you may want to think about buying some gold and silver coins. It is my opinion this is just starting and will be a bumpy ride for those who leave their money in the markets.
I say this with all sincerity, buy some freeze dried food and store it just in case this thing gets real ugly. I have started preparing about 6 months ago.
If I am wrong you will have some food to go camping with in the future.
These are the sentiments that occur at a bottom. If the mkt is down more than 600 Dow points tomorrow on heavy volume ( more than 4 billion shares ) that could mark the selling climax. Companies like AT&T General Electric Proctor and Gamble Johnson and Johnson Exxon and Pepsi etc are insulated from the credit mess. On Monday I would be bidding for those stocks at 5%-10% below the price they closed on Friday.
Beach Fanatic
This thread is basically terrifying. I keep coming back and checking someone would offer a convincing rebuttal so I can sleep.Old chinese curse "May you live in interesting times". In my calmer moments I wonder what I really have to be scared of. I have my health. To paraphrase Thoreau (I believe it was he) Security doesn't come from having things, it comes from knowing you can do without them.
Beach Fanatic
Old chinese curse "May you live in interesting times". In my calmer moments I wonder what I really have to be scared of. I have my health. To paraphrase Thoreau (I believe it was he) Security doesn't come from having things, it comes from knowing you can do without them.
.....A very profound thought by Thoreau, yet so true in its simplicity....
Beach Fanatic
That brought a smile to my face. I hope that Dr. Roberts is wrong, but it doesn't look like it.Costco- I saw this the other night when browsing for unrelated items:
If you have money in the stock market, you may want to think about buying some gold and silver coins. It is my opinion this is just starting and will be a bumpy ride for those who leave their money in the markets.
I say this with all sincerity, buy some freeze dried food and store it just in case this thing gets real ugly. I have started preparing about 6 months ago.
If I am wrong you will have some food to go camping with in the future.
Basic preparation will impact the probability of your family?s survival in an emergency. Delicious and Easy to Prepare. Each bucket contains 275 servings of Pre-mixed and Pre-seasoned 100 % Vegetarian and Vitamin Fortified food for you and your family. With a 20 year long shelf life, this kit is perfect for the preparation of natural disasters such as hurricane, tornado, earthquakes or even a camping/hunting trip.
- Easy to prepare
- 275 servings
- Sealed in convenient Weather-Proof Bucket for Easy Transport
- 30 Servings - Potato Bakon
- 25 Servings - Corn Chowder
- 25 Servings - Ala King
- 25 Servings - Cacciatore
- 25 Servings - Western Stew
- 45 Servings - Whey Milk
- 25 Servings - Blueberry Pancakes
- 25 Servings - Barley Vegetable
- Total Weight: 23 lbs.0
SoWal Insider
Costco- I saw this the other night when browsing for unrelated items:
Basic preparation will impact the probability of your family?s survival in an emergency. Delicious and Easy to Prepare. Each bucket contains 275 servings of Pre-mixed and Pre-seasoned 100 % Vegetarian and Vitamin Fortified food for you and your family. With a 20 year long shelf life, this kit is perfect for the preparation of natural disasters such as hurricane, tornado, earthquakes or even a camping/hunting trip.
- Easy to prepare
- 275 servings
- Sealed in convenient Weather-Proof Bucket for Easy Transport
- 30 Servings - Potato Bakon
- 25 Servings - Corn Chowder
- 25 Servings - Ala King
- 25 Servings - Cacciatore
- 25 Servings - Western Stew
- 45 Servings - Whey Milk
- 25 Servings - Blueberry Pancakes
- 25 Servings - Barley Vegetable
- Total Weight: 23 lbs.0
"Bakon" sounds terrifying.
SoWal Insider
Fed annouced an emergency discount rate .25 cut (lending rate to financial institutions) to 3.25% from 3.50% and creating a facility to let primary dealers borrow at that rate
Overseas markets don't like it a bit! CNBC is airing their Far Eastern program on cable now....they're really worried about what's happening over there.
Hong Kong markets down over 4%
Nikke down over 4%
Gold is up to 1025
Euro is at 1.58
Yen is up again against the dollar (a Yenny doesn't buy as much as it used to--last week)
The US Futures are down, down, down....DOW down over 200; NASDAQ 44; S&P 32.
....Do you know where your Tin Foil Hat is? -- India Markets opening shortly.
.
Overseas markets don't like it a bit! CNBC is airing their Far Eastern program on cable now....they're really worried about what's happening over there.
Hong Kong markets down over 4%
Nikke down over 4%
Gold is up to 1025
Euro is at 1.58
Yen is up again against the dollar (a Yenny doesn't buy as much as it used to--last week)
The US Futures are down, down, down....DOW down over 200; NASDAQ 44; S&P 32.
....Do you know where your Tin Foil Hat is? -- India Markets opening shortly.
.
Edited
SoWal Insider
Perhaps this may ease the mind of some, although I may still stock canned goods and get a gun permit for the hail of it.
http://www.msnbc.msn.com/id/17632793/
http://www.msnbc.msn.com/id/17632793/
Edited
Beach Fanatic
Fed annouced an emergency discount rate (lending rate to financial institutions) to 3.25% from 3.50%I've got it on the other end of me. It'll help make for easy clean up.
Overseas markets don't like it a bit! CNBC is airing their Far Eastern program on cable now....they're really worried about what's happening over there.
Hong Kong markets down over 4%
Nikke down over 4%
Gold is up to 1025
Euro is at 1.58
Yen is up again against the dollar (a Yenny doesn't buy as much as it used to--last week)
The US Futures are down, down, down....DOW down over 200; NASDAQ 44; S&P 32.
....Do you know where your Tin Foil Hat is?
.
SoWal Insider
Interview with Asian anaylst recommending "Go to Cash!...any color but Green." 
.
.
SoWal Insider
Costco- I saw this the other night when browsing for unrelated items:
Basic preparation will impact the probability of your family?s survival in an emergency. Delicious and Easy to Prepare. Each bucket contains 275 servings of Pre-mixed and Pre-seasoned 100 % Vegetarian and Vitamin Fortified food for you and your family. With a 20 year long shelf life, this kit is perfect for the preparation of natural disasters such as hurricane, tornado, earthquakes or even a camping/hunting trip.
- Easy to prepare
- 275 servings
- Sealed in convenient Weather-Proof Bucket for Easy Transport
- 30 Servings - Potato Bakon
- 25 Servings - Corn Chowder
- 25 Servings - Ala King
- 25 Servings - Cacciatore
- 25 Servings - Western Stew
- 45 Servings - Whey Milk
- 25 Servings - Blueberry Pancakes
- 25 Servings - Barley Vegetable
- Total Weight: 23 lbs.0
Did they suggest wine pairings with this as well?
.
Beach Fanatic
I just finished watching Sophia Coppola's Marie Antoinette, which seems oddly appropriate. Now I've switched to CNBC out of curiosity. This guy has terror in his eyes.
SoWal Insider
I just finished watching Sophia Coppola's Marie Antoinette, which seems oddly appropriate. Now I've switched to CNBC out of curiosity. This guy has terror in his eyes.
So you can see how the rest of the world is calling BS(!) to the CPI numbers last week that 'confirmed' that inflation was not a problem and the US economy is doing just swell
When you look up "Clueless" in any dictionary around the world, you'll see the following picture:
.
Beach Comber
These are the sentiments that occur at a bottom. If the mkt is down more than 600 Dow points tomorrow on heavy volume ( more than 4 billion shares ) that could mark the selling climax. Companies like AT&T General Electric Proctor and Gamble Johnson and Johnson Exxon and Pepsi etc are insulated from the credit mess. On Monday I would be bidding for those stocks at 5%-10% below the price they closed on Friday.
Good points. The entire economy of the Unite States is not collapsing.
Good points. The entire economy of the Unite States is not collapsing.
Beach Fanatic
Old chinese curse "May you live in interesting times". In my calmer moments I wonder what I really have to be scared of. I have my health. To paraphrase Thoreau (I believe it was he) Security doesn't come from having things, it comes from knowing you can do without them.
Amen.....Well stated!
Beach Fanatic
- 30 Servings - Potato Bakon recommended wine pairing: Alta Vista, torrontes, salta, argentina, 2006
- 25 Servings - Corn Chowder recommended wine pairing: Licia, albarino, rias baixas, spain, 2005
- 25 Servings - Ala King recommended wine pairing: Adriano, white meritage, douro valley, portugal, 2005
- 25 Servings - Cacciatore recommended wine pairing: Prius de Morana, verdejo, rueda, spain, 2005
- 25 Servings - Western Stew recommended wine pairing: Protocolo, tempranillo, laguardia, spain, 2005
- 45 Servings - Whey Milk recommended wine pairing: Raimat, cabernet sauvignon, costers del serge, spain, 2001
- 25 Servings - Blueberry Pancakes recommended wine pairing: Croft, port, portugal, LBV 2001
- 25 Servings - Barley Vegetable recommended wine pairing: Thunderbird
I would like some domestic alternatives as I am sure anything european is now quite out of my reach. I can get the Thunderbird easy enough.
Did they suggest wine pairings with this as well?
.
Beach Fanatic
Might be time to sell everything into a "sucker rally" (if there is one) ...?
That was last week- remember the 400 point rise?
Beach Fanatic
"... If the mkt is down more than 600 Dow points tomorrow on heavy volume ( more than 4 billion shares ) that could mark the selling climax..."
Maybe
"... Companies like AT&T General Electric Proctor and Gamble Johnson and Johnson Exxon and Pepsi etc are insulated from the credit mess...."
But their customers may not be.
"... On Monday I would be bidding for those stocks at 5%-10% below the price they closed on Friday...."
Only under rare circustances will I be buying individual stocks; not
enough money to play that game (and one must have a LOT of money
or a lot of luck or a very long time-window to play that game.)
At some point a "buying opportunity" will present itself. For me, I am
not convinced that time is upon us.
At that time, index funds will most likely be my choice.
"..Good points. The entire economy of the Unite States is not collapsing..."
Yet to be proven. The economy is highly dependent upon the "consumer,"
and the consumer can no longer borrow against (nonexistant) home equity,
can no longer borrow against shrinking limits on credit cards, is currently
increasing borrowings against 401K's (i.e. borrowing from the future to finance
the present & past).
As for spending "savings," well.....what savings?
I think we have a ways to go, yet.
Maybe
"... Companies like AT&T General Electric Proctor and Gamble Johnson and Johnson Exxon and Pepsi etc are insulated from the credit mess...."
But their customers may not be.
"... On Monday I would be bidding for those stocks at 5%-10% below the price they closed on Friday...."
Only under rare circustances will I be buying individual stocks; not
enough money to play that game (and one must have a LOT of money
or a lot of luck or a very long time-window to play that game.)
At some point a "buying opportunity" will present itself. For me, I am
not convinced that time is upon us.
At that time, index funds will most likely be my choice.
"..Good points. The entire economy of the Unite States is not collapsing..."
Yet to be proven. The economy is highly dependent upon the "consumer,"
and the consumer can no longer borrow against (nonexistant) home equity,
can no longer borrow against shrinking limits on credit cards, is currently
increasing borrowings against 401K's (i.e. borrowing from the future to finance
the present & past).
As for spending "savings," well.....what savings?
I think we have a ways to go, yet.
Edited
Beach Fanatic
Beach Fanatic
Re: Bear Stearns Fails Lehman next ??
Is Lehman "the other shoe?"
http://dailybriefing.blogs.fortune.cnn.com/2008/03/17/lehman-brothers-faces-a-storm/
"Shares of the brokerage firm slid 15% in early trading after the firm said it’s got enough cash to keep doing business. The firm made the statement after a big Asian bank asked traders not to do new transactions with Lehman, The Wall Street Journal reports. That decision raises the possibility that Lehman will face a run like the one that brought down Bear Stearns (BSC) this weekend...."
And cheery news from Alan
http://money.cnn.com/2008/03/17/news/economy/greenspan/index.htm?postversion=2008031707
"NEW YORK (CNNMoney.com) -- Today's economic condition could likely be seen as "the most wrenching since the end of the second world war," wrote former Federal Reserve chairman Alan Greenspan in the Financial Times on Monday...."
Is Lehman "the other shoe?"
http://dailybriefing.blogs.fortune.cnn.com/2008/03/17/lehman-brothers-faces-a-storm/
"Shares of the brokerage firm slid 15% in early trading after the firm said it’s got enough cash to keep doing business. The firm made the statement after a big Asian bank asked traders not to do new transactions with Lehman, The Wall Street Journal reports. That decision raises the possibility that Lehman will face a run like the one that brought down Bear Stearns (BSC) this weekend...."
And cheery news from Alan
http://money.cnn.com/2008/03/17/news/economy/greenspan/index.htm?postversion=2008031707
"NEW YORK (CNNMoney.com) -- Today's economic condition could likely be seen as "the most wrenching since the end of the second world war," wrote former Federal Reserve chairman Alan Greenspan in the Financial Times on Monday...."
Beach Fanatic
This thing will get a LOT worse before it gets any better. This business of being highly leveraged in all aspects of the economy (housing, investment bankers, etc) is extremely deeply rooted and it WILL take a long time to resolve itself.
Some people and businesses will go broke (and that is not all bad, believe it or not).
Some people and businesses will go broke (and that is not all bad, believe it or not).
Beach Lover
Can any bank see a 40%+ drop in stock price in a single day and survive? Nat City is about to go under.
Insolvency of Regional Banks is another step in the process.
I'll have another Guiness please!
Insolvency of Regional Banks is another step in the process.
I'll have another Guiness please!
Beach Fanatic
Of course, Greenspan goes on to claim the current situation could not have been predicted, and that a return to his policies is the only thing that can save us now.
In the article cited above, Greenspan writes, "Those of us who look to the self-interest of lending institutions to protect shareholder equity have to be in a state of shocked disbelief."
Shocked disbelief? Seriously? I know NOTHING about markets beyond what I absorbed of economics from studying history and it seemed clear to me when he was praising the "resourcefulness" of the markets with the creation of ARMs that he was fueling the irrational exuberance. It sounded like 1928 -- buy stocks on margin, they never go down by very much or for very long! There's virtually no risk!
Now, he's telling us with a straight face that the government should always be ready to step in to mitigate losses in a bust, but never intervene with regulation to limit the size of the bubbles and windfall profits in the booms. I read that as the very wealthy should be encouraged to take huge risks and accumulate vast amounts of wealth, but should not be allowed to be completely wiped out when they exercise poor judgment because they are the economy. So, if some poor schmuck lives in a house in New Orleans without flood insurance (which wasn't required because the levees were backed by the full faith and credit of the U.S. government) and loses everything, that's the roll of the dice, that's the way market's work. But if a Wall Street firm rolls the dice and comes up empty, it is incumbent upon the taxpayers to bail them out?
I brings to mind another phrase from history -- Privatize the profits, socialize the losses.
Am I oversimplifying? Is there something I'm missing?
In the article cited above, Greenspan writes, "Those of us who look to the self-interest of lending institutions to protect shareholder equity have to be in a state of shocked disbelief."
Shocked disbelief? Seriously? I know NOTHING about markets beyond what I absorbed of economics from studying history and it seemed clear to me when he was praising the "resourcefulness" of the markets with the creation of ARMs that he was fueling the irrational exuberance. It sounded like 1928 -- buy stocks on margin, they never go down by very much or for very long! There's virtually no risk!
Now, he's telling us with a straight face that the government should always be ready to step in to mitigate losses in a bust, but never intervene with regulation to limit the size of the bubbles and windfall profits in the booms. I read that as the very wealthy should be encouraged to take huge risks and accumulate vast amounts of wealth, but should not be allowed to be completely wiped out when they exercise poor judgment because they are the economy. So, if some poor schmuck lives in a house in New Orleans without flood insurance (which wasn't required because the levees were backed by the full faith and credit of the U.S. government) and loses everything, that's the roll of the dice, that's the way market's work. But if a Wall Street firm rolls the dice and comes up empty, it is incumbent upon the taxpayers to bail them out?
I brings to mind another phrase from history -- Privatize the profits, socialize the losses.
Am I oversimplifying? Is there something I'm missing?
Beach Fanatic
Politricks!
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