Dow Jones decline rate mimics Great Depression - Striper Talk Striped Bass Fishing, Surfcasting, Boating

striperman36 · 03-02-2009, 04:17 PM

Now this is scary.
http://news.cnet.com/8301-1001_3-101...g=2547-1_3-0-5

Bronko · 03-02-2009, 04:28 PM

Barak Hussein Obama will fix it. He was elected to do so.

buckman · 03-02-2009, 05:28 PM

He does not have a clue how to fix it. A challenge anyone to give me some proof or indication that he does.

striperman36 · 03-02-2009, 05:41 PM

Quote:

Originally Posted by buckman

He does not have a clue how to fix it. A challenge anyone to give me some proof or indication that he does.

NOBODY KNOWS, except maybe for you, but you have continued to be silent in that regard

ecduzitgood · 03-02-2009, 05:49 PM

I'm going to have to get an Obama coffee mug that has his symbol on one side and change on the other under witch I will write 'MISTA'. I have a feeling it will come in handy.

spence · 03-02-2009, 06:49 PM

Quote:

Originally Posted by striperman36

NOBODY KNOWS, except maybe for you, but you have continued to be silent in that regard

So have most if not nearly all conservative voices.

If there was an easy solution they would have offered it up and won the election.

So Obama inherits two wars, the worst economy in perhaps 70 years, the chance of Peak Oil for a carbon based economy and a looming medical entitlement that's a steeper hockey stick than even best case Global Warming data...

And he's a failure because it's not all fixed a few weeks into office?

And this is from the same people who stood behind Bush after years of proven mistakes, cronyism and general incompetence.

By what standards are you measuring your leadership?

-spene

RIROCKHOUND · 03-02-2009, 06:52 PM

Quote:

Originally Posted by spence

By what standards are you measuring your leadership?
-spene

Party lines and the Dow...

JohnnyD · 03-02-2009, 07:19 PM

Quote:

Originally Posted by RIROCKHOUND

Party lines and the Dow...

Bingo! I *know* we'd be having the same exact conversations if McCain had won office. Except we'd also be talking about how he's a terrible speaker and unable to instill any sort of hopeful, "we'll get through it" feelings in anyone.

striperman36 · 03-02-2009, 07:23 PM

Quote:

Originally Posted by JohnnyD

Bingo! I *know* we'd be having the same exact conversations if McCain had won office. Except we'd also be talking about how he's a terrible speaker and unable to instill any sort of hopeful, "we'll get through it" feelings in anyone.

Unless he had Palin interpret wearing a........

striperman36 · 03-02-2009, 07:24 PM

Quote:

Originally Posted by RIROCKHOUND

Party lines and the Dow...

And with both measures your'e losing.

buckman · 03-02-2009, 07:57 PM

Your not going to like my answer but here goes.

Don't raise taxes on the people and small companies that you need to succeed in order for a recovery to take place. Cut taxes. The Feds. don't need the money. Give it back to the people that will create jobs. At least don't take more. Why do you buy into the fact that the need to tax the rich? Don't give me the " that's what got us here, BS" it's what got us out of the last recession in the 80's. You can't nationalize America and "hope" things get better. You guy's pushed for "change". I'm asking you what change will he bring that will make America better. You don't effin know. You guessed!

I'm pissed at both Dems and Repubs. I want every incumbant to lose there job next election. I don't care if you replace a Republican with a Democrat. That's the change I want. They all suck. SEND A MESSAGE YOU SHEEP!

People alot smarter then you and I know it won't work. That's why the Dow is crashing beyond levels anyone predicted.

We can not deficit spend our way out of this. That's the bottom line.

You like to say I have no answers and I keep saying doing nothing would have been better. Show me different.

buckman · 03-02-2009, 08:10 PM

Quote:

Originally Posted by spence

So have most if not nearly all conservative voices.

If there was an easy solution they would have offered it up and won the election.

So Obama inherits two wars, the worst economy in perhaps 70 years, the chance of Peak Oil for a carbon based economy and a looming medical entitlement that's a steeper hockey stick than even best case Global Warming data...

And he's a failure because it's not all fixed a few weeks into office?

And this is from the same people who stood behind Bush after years of proven mistakes, cronyism and general incompetence.

By what standards are you measuring your leadership?

-spene

No, he's a failure for effin everything up worse in a few weeks. Please stop giving him excuses for failing.

striperman36 · 03-02-2009, 08:15 PM

Quote:

Originally Posted by buckman

Your not going to like my answer but here goes.

Don't raise taxes on the people and small companies that you need to succeed in order for a recovery to take place. Cut taxes. The Feds. don't need the money. Give it back to the people that will create jobs. At least don't take more.

This part I do agree with particularly when you add that sole proprietorship's normally file as individual taxpayers not corp. or LLC.

The rest is ranting, no one, anywhere has an answer to our current situation. IMO, letting Lehman fail was the WORST thing Paulson could have done.
Letting GM, FORD, Chrysler fail is the worst thing this country can do.

AIG our 80pct government owned insurer, posted a 99 billion dollar loss for 2008 after get 85 billion? That's sounds like taking advantage of a crisis. Let the IRS auditors go over that.

I just don't buy sitting by and doing nothing. However, every century of this old USofA's existence there has been multiple failures, crisis that have jarred the financial system. In most cases, the federal government intervened to try and right the system. Sometimes it worked, other times nothing worked.
What doesn't work is haranguing the fact that the federal government is doing something. However, we live in one of the most free speech societies in the world, which allows us all to sit around and wag one way or the other regardless.

Bronko · 03-02-2009, 09:13 PM

Barry will fix it. He promised.

RIROCKHOUND · 03-02-2009, 10:15 PM

Quote:

Originally Posted by buckman

No, he's a failure for effin everything up worse in a few weeks. Please stop giving him excuses for failing.

I'd like to give it more than 6 weeks to see what happens.
Revisit this thread in August, after 6 full Months. If the economy has not shown any sign of improvement, then I'll start to believe you.

I voted for change, but had no illusions that the positive change would be before March 2nd... we were on a downward slide for more than 5 months, (I know the date b/c we pulled money out of the Market in Oct when the Dow went hit 9,500, in hindsight a smart decision, I wish we had done it at 10500, oh well). To start implying that everything needs to be rosy NOW is asinine...

The 1929 crash took 3 years to bottom out and the return to 1929 levels was 25 years! I know different economy, different times, but the timeline was not weeks or even months.

fishbones · 03-02-2009, 10:50 PM

Quote:

Originally Posted by RIROCKHOUND

I'd like to give it more than 6 weeks to see what happens.
Revisit this thread in August, after 6 full Months. If the economy has not shown any sign of improvement, then I'll start to believe you.

I voted for change, but had no illusions that the positive change would be before March 2nd... we were on a downward slide for more than 5 months, (I know the date b/c we pulled money out of the Market in Oct when the Dow went hit 9,500, in hindsight a smart decision, I wish we had done it at 10500, oh well). To start implying that everything needs to be rosy NOW is asinine...

The 1929 crash took 3 years to bottom out and the return to 1929 levels was 25 years! I know different economy, different times, but the timeline was not weeks or even months.

RIRockhound, I'm willing to give it more than 6 weeks because I know in a best case scenario it will take much longer than that to even see signs of improvement. But, I think a lot of people who voted for Obama are going to start turning on him soon. He had many people believing that as long as he was elected, there would be instant improvement, and things have actually gotten worse.

A big difference between the 1929 crash and now is that we're in a global economy now. Our economy impacts other countries and vice versa much more than in 1929. Back then, we didn't export jobs and import products the way we do now. I know it's been beat to death, but we need to give businesses incentive to manufacture goods in this country.

As for bailing out companies, we can't let them keep throwing good money after bad like they're doing with AIG. There has to be a tipping point where some companies are allowed to fail.

JohnnyD · 03-02-2009, 11:52 PM

Quote:

Originally Posted by fishbones

A big difference between the 1929 crash and now is that we're in a global economy now.

Another big difference is the way in which the Stock Market is used. In 1929, it took days to buy/sell stocks. Today, it takes seconds. And unfortunately, people use the market as a measure of how the economy is doing - when it's really way, way more than that.

Flaptail · 03-03-2009, 02:07 PM

Quote:

Originally Posted by striperman36

Now this is scary.
http://news.cnet.com/8301-1001_3-101...g=2547-1_3-0-5

That's because we are in a depression. My friend works for the IRS, he was saying this two months ago and everyone that works for him agrees.

He says we have two years at least ahead of us of financial chaos. All he says about the stimulus package is that somebody has to do something, at least the new President tried something. It will be a long time before we know if it actually worked though.

American greed in the marketplace took over. Now it has to fix itself if you ask me.

striperman36 · 03-03-2009, 02:10 PM

the apple was eaten and we have been cast out for the time being