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Stock Market Crash of 2008

smelter

smelter

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The 500 lb gorilla in the room, and no one is talking about it on CE&P. :confused:

How many of you don't even open your monthly statements anymore for fear of seeing how much its gone down? :eek: :help:
 
To show you are right.
I almost skipped over this thread as all I read was "Stock Market Crash" and that was so long ago I wasn't interested in it.
As I don't have a portfolio I haven't been interested. I spent 22 years in the stock market and lost interest in what it does. I have been amazed this past month or whatever in the drop and roller coaster.
So sue me!:eek:
 
smelter said:
The 500 lb gorilla in the room, and no one is talking about it on CE&P. :confused:

How many of you don't even open your monthly statements anymore for fear of seeing how much its gone down? :eek: :help:
Click to expand...

What rate of wealth/investment are you assuming here? Remember that here on JUB we have people running from near-homeless to obnoxiously rich.
 
What would you like to talk about?

Is it a market correction? yes
Has this happened before? yes
Was there a recovery after a fall in the past? yes
Are people rampantly selling when it's low with promise to re-buy when it's higher? probably

If someone has a sound investment plan that is built on long term goals - is it extremely important what is happening in the short term this month? not really

Will the big headline on tomorrow's newspaper have a big red down arrow representing the market performance today? And for effect will they bring out that stock photo of a floor trader holding his head in disbelief? Probably

Are all the financial TV stations using scary music and obscure but alarming statistics to play this for all it's worth? Of course like always

Do I need to look at my statement to see the change in value when the money that I am putting there isn't needed for about 31 years? Not really*
*Note: if you don't have a ling time horizon, now would be a good time to review your plan with your financial advisor to make revisions as necessary.

Are there great values on solid companies out there that would be a good long term holdings? Of course!
 
Jonboy1645, you have outlined all good points. If I had your time horizon to work with, at some point this will be a great opportunity to enter the market. People your age should get prepared to take full advantage of it.

Perhaps what I'm trying to elicit is comments from every age group. I'm also interested in what some of your parents are going through. Many of them are probably worried sick about their own future and are reluctant to burden you with it. It might be good to touch base with them.

This is not a typical market correction. I've been through a number of them and haven't seen anything like this one. This is not only a problem with stocks per se. Just look at the number of job losses that are and will be associated with this crisis.

I guess my purpose in starting this thread is to at least have some discussion on this because it affects all of us, rich and poor, young and old.
 
If all my stocks were wiped out, it would be about ten months worth of retirement money -- not something I'm going to stress about.


My mom's house is soon to go on the market. How this will affect her remaining retirement I don't know: nicer houses here are still selling as though there never was a housing crisis, mostly, and according to the real estate guy there's no way to know which will and which won't until they sell.

One house nearby was listed for $280,000 for almost two years, and ended up going for $190,000, but another was listed at $320,000 for three months, and went for that. Personally, I thought the first one was the nicer house, but it's all a matter of what buyers want.
 
I've watched the 'best and the brightest' talking heads in the financial world giving their opinions every day for months. None of them have a clue, yet they have the nerve to keep giving their bad advice day after day.

We virtually have no major manufacturing left in this country. Republicans are against bridge loans to GM, Chrysler and Ford ..... the Democrats are for it. If they go under, those 3 auto companies and peripheral service companies are estimated to lose between 3 and 4 million jobs nationwide.

Major Banks aren't lending even to their best corporate customers, many of which depend on lines of credit to make payrolls and purchase inventories. Even if you don't own a single share of stock, you are not immune to the economic woes of Wall Street.

"Brother, can you spare a dime"

 
^ I too have no doubt we'll get through this ... we always do! Bush and Cheney are leaving, reason enough for optimism! ..|
 
Kulindahr said:
... it's practices like that which make our economy precarious enough that the current crisis may take us clear to a depression. That, I call mismanagement.
Click to expand...

Are not those practices an extension of interdependency – globalization?
 
GenAlfie said:
^ Wow. Just wow. You really haven't a clue about running a businesses. Sadly, that doesn't stop you from engaging.

See commercial paper. See line of credit.
Click to expand...

Is not that running your own Person Account ?

I have to pay the bills but the monthly welfare check has not come in yet.
I better go to " Check into Cash" and kite a check untill the check gets here.

Wow G.A. you run a business by taking from from Peter and paying Rob !! at what % rate !!!!

btw you miss spelled running a businesss. That would be business

Now I am 2 for 2 on your spelling so STFU about me missing an "a" in a name:p
 
opinterph said:
Are not those practices an extension of interdependency – globalization?
Click to expand...

No. Microsoft is global, and they have a massive cash reserve which backs their payroll -- they borrow from and pay back themselves, so their ability to meet a payroll is not dependent on banks or any other institution. Other companies are beginning to follow their example -- or were, until lately; I won't stand by that now.

That's sound, conservative business practice, and if all U.S. companies followed it, we wouldn't be facing such a hole: banks would have funds to loan, Detroit would have breathing and maneuvering room, etc.

It's just that we've gotten so accustomed to mismanaging things that irresponsibility has become standard business practice.
 
Kulindahr said:
Any company that needs to rely on lines of credit to meet payroll is already mismanaged.
Click to expand...
Giving loans to the Big Three without them changing their culture,both management and labor is going to be money down the drain.House Republicans were primarily the ones who bitched about the corporate bailouts going to buy junk debt,now Secretary Paulson has just about junked the buyback junk plan...focusing on buying up bank shares and pushing for a better lending climate.Democrats are just as likely as Republicans to fuck things up,but it does appear that President -Elect Obama is fashioning a good,pragmatic team at Treasury and Commerce.Hopefully,they'll get the ball rolling in setting our economic course back to health,but it will take a bit of time.
 
Sausy said:
Giving loans to the Big Three without them changing their culture,both management and labor is going to be money down the drain.House Republicans were primarily the ones who bitched about the corporate bailouts going to buy junk debt,now Secretary Paulson has just about junked the buyback junk plan...focusing on buying up bank shares and pushing for a better lending climate.Democrats are just as likely as Republicans to fuck things up,but it does appear that President -Elect Obama is fashioning a good,pragmatic team at Treasury and Commerce.Hopefully,they'll get the ball rolling in setting our economic course back to health,but it will take a bit of time.
Click to expand...

Most definitely.

I was so flabbergasted when the CEOs couldn't even make a guess at how much they might need, as an upper figure, my reaction was that the first condition for any aid would be to fire the idiots who came with such a sense of entitlement that they didn't bother to do basic homework.
 
Good topic, we have been ignoring the economy. Kinda like whistling past the cemetery. I think we're heading for a depression. The markets are tanking, have been for over a year or two. 400 points is great deal more to lose now than when the market was at 14,000.

People are buying spam. Not to eat now, but to put away for when the bottom falls out. Gun sales are way up, not because people are nuts, but because they see it coming.

GM. Ford and Chrysler are all bankrupt. Not formally, but begging the feds for cash is an admission, just the same. If Obama raises taxes on the folks who actually create jobs, then that's will essentially guarantee a deep. lasting depression for sure.

Some have predicted food riots by 2012. It's going to be bad.
 
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