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All this talk about the market...

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Quinny
Posts: 3477 - Karma: 163
The fact that everyone is working themselves into a panic just reciprocates and perpetuates the problem. Consumer confidence is going to dictate how long the problem lasts.

Expect rates to take another cut next week. Interest is already running lower than inflation, but that will not be long term. It's only until the mortgages even out. Not much you can do about it. And don't feel like you're fucked because you didn't sell your stocks last week. To be honest, if you didn't "get out" about three months ago, you're going to be hit by this if you have any standing investments.

It's highly likely that we will lapse into a full blown recession, assuming we're not there already. The market will rebound when consumers (i.e. you) get your confidence back. The soonest that could likely happen is around the presidential election and could help to boost retail during the holiday season.

I know some people without any perspective are calling for the apocalypse, but it's not nearly as bad as some people think it is. Don't panic and keep your cool. We'll be fine.
Jan 22 2008 6:19PM
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Elijah.
Posts: 9322 - Karma: 76
Well said.
It's just a recession, not the end of the world...
Jan 22 2008 6:24PM
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Snowcase
Posts: 11456 - Karma: 634
If I had money, I'd spend it.
Jan 22 2008 6:28PM
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TheButterHashira
Posts: 9691 - Karma: 1,702
Exactly. Our economy has ups and downs, its just way it is. We will be ballin again in a year or 2
Jan 22 2008 6:32PM
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user098123
Posts: 6072 - Karma: 18
Sooo.... are we going to be seeing a drop in the price of goods to try and boost spending and up the economy or what? Cause I'm in the market for a new TV over the next few months..

haha
Jan 22 2008 6:34PM
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Microcosm
Posts: 4765 - Karma: 153
I was talking to my dad about it and he's like yeah, I tried to buy everything at the low prices! He doesn't seem overly worried and he's big into the market so it's not the end of the world.
Jan 22 2008 6:45PM
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Quinny
Posts: 3477 - Karma: 163
You're right on about buying things. Prices will be low. Just keep spending (smartly) and don't do anything irrational with your money or investments. If you can, buy domestic because exchange rates are currently unfavorable to the dollar...not to mention it stimulates the local econemy.
Jan 22 2008 7:07PM
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timmi
Posts: 12874 - Karma: 3,460
hey im supporting your economy america! we bought a house in florida some poor bastard couldnt afford! bwahahaha
Jan 22 2008 7:51PM
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Mezmerize19
Posts: 6475 - Karma: 18
Quinny. I think you keep all our sanity on this site
Jan 22 2008 7:52PM
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Microcosm
Posts: 4765 - Karma: 153
nice to hear a second person thinks he's got a good idea. I generally trust him (well I really have no choice, technically I have $500 to my name from two jobs and thats it) but I still want to ski this winter!
Jan 22 2008 11:13PM
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wilkesyachtingco
Posts: 4425 - Karma: 41
good buying opportunities out there im sure... i made money on the market today, so... not to worried.

that aside, can anyone tell me when the market took a hit that it didn't recover from? right... never.
Jan 22 2008 11:15PM
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C-Burg
Posts: 4729 - Karma: 130

Just dont join a recession if it happens. I see it all of the time at ski resorts with building, upgrading, and spending alot of money doesnt look like the are expecting a recession

Jan 22 2008 11:16PM
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wilkesyachtingco
Posts: 4425 - Karma: 41
you all know that you can make dollars in a bear market right? its not like you automatically get owned up and down the block just cause the market goes south....
Jan 22 2008 11:23PM
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hotdog.garbage
Posts: 1854 - Karma: 10
no, thats not whati its about. The negative savings rate in the states is a big part of the problem.
Jan 22 2008 11:30PM
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IcePointa
Posts: 1879 - Karma: 19
I dunno what you think the great depression was, let alone what happens when nations like the former Soviet Union collapsed. Thank god we haven't managed to get ourselves into a situation that badly quite yet.

 Of course there is a "recovery" as long as human civilization continues to function, and I don't think anyone here has suggested that it won't.
Jan 22 2008 11:41PM
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waynewong
Posts: 1359 - Karma: 23

I love this...well to a point.

I cannot wait until all those fools who spend every paycheck like it is their last get behind on the HDTV payments and they have to dump them on craigslist for pennies on the dollar. 1-month old Sony 50-inch for 400$ here I come - suckas

Better make those payments on time kiddies

Gonna be some sweet rental properties for sale at some dirt cheap prices next year as well - slumlording here I come

Jan 23 2008 12:08AM
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wilkesyachtingco
Posts: 4425 - Karma: 41

recovered from the great depression and the soviet union had economic collapse, political collapse and a coup.... so thats quite a bit more than what were looking at here.
Jan 23 2008 1:38AM
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Silence
Posts: 16030 - Karma: 150
I'll strongly argue that this wouldn't have happened if it wasn't for two words..sub-prime.
Jan 23 2008 1:40AM
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IcePointa
Posts: 1879 - Karma: 19

astounding

I thought the canadians were going to invade today

(btw, take a look at who permitted the great depression to take place as well as who benefitted from it)

Jan 23 2008 1:42AM
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Alex_G
Posts: 11902 - Karma: 1,019
Hopefully the value of the dollar will rise again and High North can come back in a year or two!
Jan 23 2008 2:23AM
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fappy
Posts: 2960 - Karma: 15
fuck a market. i don't give two shits about the goddamn economy
Jan 23 2008 2:29AM
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yelsel
Posts: 12967 - Karma: 3,451
this is the best time to buy stock!  buy! buy! buy!
Jan 23 2008 8:36AM
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jibsworth
Posts: 1554 - Karma: 12
thanks for that profound statement.
Jan 23 2008 8:50AM
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jibsworth
Posts: 1554 - Karma: 12
But seriously this downturn has created a real buying oppertunity. Most risk had been priced into the market prior to this weeks beating, lots of good companies are now very undervalued, if you stick to pharma, consumer staples (Pepsi, General Mills), and strong multi-national companies (IBM, J&J), you are not in bad shape.

Also if the "R" word ends up happening one should shift over to bonds which become more atractive since our money will grow less over time (low intrest rate) and its value will remain stable (low inflation).
Jan 23 2008 9:14AM
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Ryno
Posts: 31125 - Karma: 336
Buy low sell high!
Jan 23 2008 9:21AM
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yelsel
Posts: 12967 - Karma: 3,451
exactly.

good thing i picked up more valero stock before this shit happened.
Jan 23 2008 9:27AM
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IcePointa
Posts: 1879 - Karma: 19
Jan 23 2008 9:40AM
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freestyler540
Posts: 13083 - Karma: 18,720
Media gets attention by scarring people, often, the people without econimic knowledge panic.

Jan 23 2008 10:54AM
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waynewong
Posts: 1359 - Karma: 23
Smart people choose not to particpate in a recession and keep chugging along enjoying life. But icepointer keep freaking out while the rest of move on and keep achieving -
Jan 23 2008 3:46PM
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IcePointa
Posts: 1879 - Karma: 19
Rofl, what makes you think that me mentioning that our economy is fucked makes me not enjoy life?

btw, people who keep just chugging along during a recession get eaten by the bears

Unless of course you don't have any money in the market, then you're fine except for the fact that the market steals money from you to make up for the losses. Have fun with $8 gallons of milk if they keep this up much longer.
Jan 23 2008 4:08PM
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Quinny
Posts: 3477 - Karma: 163
It's not all doom and gloom.

http://www.reuters.com/article/bondsNews/idUSN2332718020080123?pageNumber=3&virtualBrandChannel=0&sp=true
Jan 23 2008 6:39PM
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jibsworth
Posts: 1554 - Karma: 12
What are you talking about here?

$8 milk? This would be inflation, no?
Jan 23 2008 7:02PM
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jibsworth
Posts: 1554 - Karma: 12
Or you could borrow high, sell high, re-buy low, then return.
Jan 23 2008 7:04PM
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