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Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
02-21-2009, 04:50 PM
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#1
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Why isn't the simulas having an effect?
Last Sale 7365.67 Previous Close 7465.95
Change -100.28 Open 7461.49
Change % -1.34% 1-Week Range 7850.41 - 7249.47
Previous Close 7465.95 1-Month Range 8405.87 - 7249.47
Today's Range 7249.47 - 7469.29 52 Week Range 7249.47 - 13136.70
Last Trade Time 02.20.09 5:40 PM EST YTD Change -5899.13
I wish it would. Any ideas? Alot of very educated guys on here. Help me out. IMO it's because it's a scam. You?
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02-21-2009, 05:25 PM
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#2
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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How fast to you expect things to change?
The financial marketplace is still a mess, Geithner may nationalize some of the banking system. Gold is over 1000 per oz
Pelisoi is still in Itally, Kerry is in Israel, Schwarzenegger can't get a balanced budget CA may declare bankruptcy , GM - Chrsyler have no plan, and Plugfest is over and you didn't go.
The market doesn't believe we have a solution
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02-21-2009, 06:10 PM
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#3
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,231
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Ok, now you're just being stupid.
-spence
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02-21-2009, 07:25 PM
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#4
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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YEAH talk to me at DJI 6000 in 2 weeks.
No confidence is reflected in the marketplace
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02-21-2009, 07:48 PM
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#5
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,231
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The problem is, we still have major national banks which are insolvent.
This is not Obama's fault.
I do think we should be very careful nationalizing any banks (i.e. let's not) and it's looking like the Obama Administration agrees.
This is a good thing.
-spence
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02-21-2009, 07:58 PM
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#6
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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Isn't majority ownership as much a nationalization?
Although this little tidbit from WSJ
The White House tried to knock down speculation that the government is preparing to nationalize several large U.S. banks, but some bankers complained that the Obama administration needs to act even more aggressively to shore up confidence in battered financial institutions.
Robert Gibbs, a White House spokesman, said Friday afternoon that the month-old Obama administration "continues to strongly believe that a privately held banking system is the correct way to go."
The comments reversed a broader decline by U.S. stocks that at one point pushed the Dow Jones Industrial Average close to 1997 levels. Still, the Dow finished down 100.28 points, or 1.3%, to 7365.67, a new low for the current bear market. Friday's decline left the Dow with its worst weekly drop in four months.
However, the market is still having doubts.
The government has obviously decided to let us stew for another weekend. All we really know is that we either are or are not going to be beneficiaries of knowing some details of the bank "restructuring" plan within a few days. In the meantime, the market will have to continue feeding on uncertainty.
And you weren't at PlugFest either
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02-22-2009, 07:41 AM
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#7
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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I'm not saying who's fault it is.(in this thread anyway)
I would think that when a trillion dollar bill is passed, it would have some sort of effect on how investors feel companies will benifit.This magnitude of money flowing into the economy should help. I think it has had a negative effect.
IMO the problem stems from the anticipation of a bill that would benifit the country and passing one that screws the country. I think investors realize that the bill that was passed, will do long term damage to the U.S. economy.
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02-22-2009, 08:01 AM
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#8
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by spence
Ok, now you're just being stupid.
-spence
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Educated guys?
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02-22-2009, 09:22 AM
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#9
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Registered User
Join Date: Feb 2003
Location: Here and There Seasonally
Posts: 5,985
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My take on DJ. It's gambleing plain and simple. You give a guy your bucks to grow a business, he gives himself a hefty check and bonus because he thinks the money is his. And since the money is "his" now he will try to keep it all. Except for a piddly portion that he pays back to to his suckers to keep them quiet. Until the whole thing comes unwound, then he gets the Government to tax the suckers to pay back the money he "lost".
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He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself.
Thomas Paine
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02-22-2009, 09:28 AM
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#10
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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Quote:
Originally Posted by buckman
I\
IMO the problem stems from the anticipation of a bill that would benifit the country and passing one that screws the country. I think investors realize that the bill that was passed, will do long term damage to the U.S. economy.
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I just believe people believe it will have no effect. I don't think most people think past tomorrow right now. Many of the working are just several paychecks or the lack there of from insolvency.
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02-22-2009, 10:01 AM
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#11
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by striperman36
I just believe people believe it will have no effect. I don't think most people think past tomorrow right now. Many of the working are just several paychecks or the lack there of from insolvency.
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Your right, I just feel the promise of a trillion dollars should have given it a bump at least. If this had been a true stimulas bill instead of a blueprint for bigger govornment, maybe it would have had a positive effect. The retired people ( and my 401k) needed something that would have worked.
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02-22-2009, 10:03 AM
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#12
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by Backbeach Jake
My take on DJ. It's gambleing plain and simple. You give a guy your bucks to grow a business, he gives himself a hefty check and bonus because he thinks the money is his. And since the money is "his" now he will try to keep it all. Except for a piddly portion that he pays back to to his suckers to keep them quiet. Until the whole thing comes unwound, then he gets the Government to tax the suckers to pay back the money he "lost".
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It's also where most people have there hopes for retirement deposited.
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02-22-2009, 12:04 PM
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#13
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Registered User
Join Date: May 2008
Location: Mansfield, MA
Posts: 5,238
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Quote:
Originally Posted by buckman
Your right, I just feel the promise of a trillion dollars should have given it a bump at least.
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Please stop saying "the promise of a trillion dollars" and trying to making it even more extreme than it is.
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02-22-2009, 12:43 PM
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#14
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,231
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Quote:
Originally Posted by JohnnyD
Please stop saying "the promise of a trillion dollars" and trying to making it even more extreme than it is.
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Nah, he's having a lot more fun trying to trip it up hoping it's a big failure. I'd be willing to wager he's accused Liberals of doing the exact same thing regarding the war in Iraq.
There hasn't been a rapid response in the markets because there are too many varibles that haven't been isolated. At the time Obama signed the bill into law the big story was about banks and the unknown as to what might happen.
Most economists believe that the recession isn't going to lift until best case end of this year and it could go deep into 2010. If that's the case I think it's a bit unreasonable to expect the Market to sound the all clear simply because Obama used a pen.
Geeze...
-spence
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02-22-2009, 01:07 PM
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#15
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Your right. In fact the combined cost of the bailouts are well over a trillion dollars
And no, I pray it works. For the sake of future generations. Unfortunatly I'm a realist and I deal in substance.
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02-22-2009, 03:30 PM
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#16
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Registered User
Join Date: Feb 2003
Location: Here and There Seasonally
Posts: 5,985
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Quote:
Originally Posted by buckman
It's also where most people have there hopes for retirement deposited.
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my point exactly. These shysters have crushed dreams, ruined lives and educations, and have lived pretty high on the hog from the blood and sweat of their victims. Now that is all in shards, they want their victims to foot the bill and sadly they have to or the whole shebang goes up in flames. I had a 401k eviserated in the 80s, I salvaged what was left and invested else where, where I had and have a modicum of control. This last "adventure' would have ruined me otherwise. And may still yet.
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He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself.
Thomas Paine
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02-22-2009, 03:34 PM
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#17
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Registered User
Join Date: Feb 2003
Location: Here and There Seasonally
Posts: 5,985
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Back to the question, the market hasn't responded because of fear and distrust. When the guys who run the investments start to behave responsibly and hell even legally, the investers will return. You can't fool all of the people all of the time. I pray it works, too, buckman. The people don't deserve this and right now they're scared, angry and mistrustful.
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He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself.
Thomas Paine
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02-22-2009, 03:50 PM
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#18
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Retired Surfer
Join Date: Dec 2000
Location: Sunset Grill
Posts: 9,511
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Quote:
Originally Posted by spence
The problem is, we still have major national banks which are insolvent.
This is not Obama's fault.
-spence
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Sure it is, the buck stops here remember.
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Swimmer a.k.a. YO YO MA
Serial Mailbox Killer/Seal Fisherman
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02-22-2009, 05:11 PM
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#19
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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Quote:
Originally Posted by spence
Nah, he's having a lot more fun trying to trip it up hoping it's a big failure. I'd be willing to wager he's accused Liberals of doing the exact same thing regarding the war in Iraq.
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That would be RIJIMMY
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02-23-2009, 09:00 AM
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#20
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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you dont read a word I post
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making s-b.com a kinder, gentler place for all
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02-23-2009, 09:33 AM
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#21
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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WASHINGTON (CNN) -- A new national poll indicates that nearly three out of four Americans are scared about the way things are going in the country today.
Seventy-three percent of those questioned in a CNN/Opinion Research Corporation survey released Monday say they're very or somewhat scared about the way things are going in the United States. That's six points higher than in an October poll.
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making s-b.com a kinder, gentler place for all
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02-23-2009, 12:47 PM
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#22
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Registered User
Join Date: May 2001
Location: Rhode Island
Posts: 3,650
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Of course, October and November and December were the meltdown months when your hero was under his desk taking a nap...
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02-23-2009, 02:41 PM
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#23
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by Swimmer
Sure it is, the buck stops here remember.
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God I wish it would.
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Ski Quicks Hole
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02-23-2009, 02:54 PM
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#24
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by Joe
Of course, October and November and December were the meltdown months when your hero was under his desk taking a nap...
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I think we are at an 11 year low now. All that negative economy doom and gloom talk just might have backfired on Obama. To bad for anyone with a 401K. We need a real plan and we need it soon.
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02-23-2009, 04:25 PM
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#25
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Registered User
Join Date: May 2001
Location: Rhode Island
Posts: 3,650
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I hear after they nationalize Citigroup they are going cut the interest rates on credit cards to not more than 3% above prime. That will spurn consumer spending and free up money for households that carry balances.
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02-24-2009, 08:09 AM
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#26
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Registered User
Join Date: Apr 2002
Location: Lakeville,Ma
Posts: 203
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When GREED and FEAR hit the high notes (It may be Soon), watch for a gradual "capitulation"...i:e: the average Joe throws in the towel in fear of losing more of what he already lost. THEN................
The market makers will spin the first "Good News" headline as marking the bottom of the market. They will raise the market several hundred points over a few weeks, enticing the uninformed into believing the "All Clear" has been signaled and you will begin throwing money back into the market in an attempt to gain what you had lost. At this point, the market makers will pull the rug out from under you by dropping the market several hundred points over a few days and will now have all of your money and your anger. Some will sell out and vow never again while others will be recycled into the same steps as before until the real bottom is formed. (That's when their are no more retail buyers (You) left).
Market makers from Wall Street have some of the most Brilliant Psychologist working in their firms. They know how you think, how you try to reason, and prey on that advantage.
Just my thoughts..
O.K. Back into my Cave.
P.S. It's not all doom and gloom as the patient investor who has that proverbial long term horizon will be O.K. as long as we are the U.S. of A. If that changes, all bets are off.
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02-24-2009, 08:48 AM
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#27
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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Quote:
Originally Posted by Joe
Of course, October and November and December were the meltdown months when your hero was under his desk taking a nap...
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Bush is not my hero. But just so you know, its Congress's job to introduce leglislation and last I checked we had democrat congress for the last 2 years. What where they up to?
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making s-b.com a kinder, gentler place for all
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02-24-2009, 09:13 AM
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#28
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by RIJIMMY
Bush is not my hero. But just so you know, its Congress's job to introduce leglislation and last I checked we had democrat congress for the last 2 years. What where they up to?
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Waiting for Bush to leave, so they can spend money we don't have.
Can't wait for the speach tonight. My prediction the Dow drops 200 or more tomorrow.
Funny how a speach can effect it, but the promise of a trillion dollars takes a long time to effect it.
Let me wrap up the speach for you, "Bush's fault", we need to control the deficit, I will spend billions and billions.
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02-24-2009, 09:25 AM
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#29
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Registered User
Join Date: May 2003
Location: Easton, MA
Posts: 5,737
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I fell so much better that most of my money is invested in custom plugs and not some wacky retirement plan.
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Conservatism is not about leaving people behind. Conservatism is about empowering people to catch up, to give them tools at their disposal that make it possible for them to access all the hope, all the promise, all the opportunity that America offers. - Marco Rubio
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02-24-2009, 09:58 AM
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#30
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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Quote:
Originally Posted by buckman
Waiting for Bush to leave, so they can spend money we don't have.
Can't wait for the speach tonight. My prediction the Dow drops 200 or more tomorrow.
Funny how a speach can effect it, but the promise of a trillion dollars takes a long time to effect it.
Let me wrap up the speach for you, "Bush's fault", we need to control the deficit, I will spend billions and billions.
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It will be an interesting discussion, particularly with a nationalized financial market.
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