Markets tumbling down

[Miss Kitty]

I don't know but my mom told me a story of when she was in high school in the 60's that they had economics lessons regarding the stock market, etc. She said one of the things that she thought was funny was that her teacher told the class that the stock market was legalized gambling, and making money was far from a sure thing. I remembered that story when I was hearing about how people lost a lot of their retirement money in the stock market during the discussions of TARP 1. Somehow the risk part of the stock market was handled like the risk part of the real estate bubble- not discussed openly. People seemed to be taken by surprise that the value of their 401k's weren't going to always go up, and could actually go down.

I hear you, but so much for investing in America.

 

[Linda]

It is amazing how fast your hard earned dollars can go poof! I keep asking Mr. K if we can just break even or is it too late. He just politely ignores me. :shock:

Mr. K sounds like my husband

 

[BeachSiO2]

I hear you, but so much for investing in America.

That is the sad part, no doubt. However, I didn't say that we couldn't all still buy Treasury bonds as they can't fail unless...

 

[Linda]

I certainly hope not!

I've been trying to be supportive of our new President, but all my worst fears about him weren't as scary as what he is proposing. I hope he will be reminded that over 40% of Americans voted against this type of change.

I couldn't agree more but I haven't gotten the feeling that he cares what the 40% of us who didn't vote for him think

 

[traderx]

I hear you, but so much for investing in America.

The rest of the world is in worse shape that we are. Nowhere to hide this go around. :shock:

 

[SHELLY]

Where was SHELLY back in 1978 when all this saving stupidity began?

I had just purchased my very first house--20% down, 30 year fixed, 9.75%. Bank checked my employment, savings and salary to ensure I could afford it. The following year, interest rates zoomed up to over 18% as Volker attempted to stop the runaway inflation freight train.

Unemployment was 6%
Dallas won the Super Bowl
The Yankees won the World Series
Sony introduced the Walkman (cassette player)
Record of the Year: "Hotel California," Eagles (Still a great song!)

 

[Capricious]

Markets tumbling some more.


And still a long ways to go.





Capricious





"The U.S. housing market appears to be emerging from its recent travails and the worst may well be over",Federal Reserve Chairman Alan Greenspan, Reuters release Oct 9, 2006

 

[Lynnie]

The rest of the world is in worse shape that we are. Nowhere to hide this go around. :shock:

Yeah - the dollar is strengthening. Odd, huh?

I'm a-sca-red to look at the close of DOW yesterday. Please let me know - gently, however. Thank you.

 

[SHELLY]

Yeah - the dollar is strengthening. Odd, huh?

I'm a-sca-red to look at the close of DOW yesterday. Please let me know - gently, however. Thank you.

Another Bear Market Day

DOW: 7062.93 -119.15 (-1.66%)
NASDAQ: 1377.84 -13.63 (-0.98%)
S&P500: 735.09 -17.74 (-2.36%)

.

 

[30ashopper]

Dow futures as of 6pm -

DJ Industrials -55 6997

Here we go, two big reports out this week, both probably bad news.