Who's been watching Wall Street?

[ichwar]

The Dow reached a 6 year low today. I'm waiting with baited breath for another black tuesday

Does any one else know what I'm talking about? Or do the people not living in the U.S. don't care?

When do you think wall street is going to start gaining ground again?

Lastly, does anyone here really think the economic porculus stimulus plan is going to work?
Sorry, I got the porculus part from Rush Limbaugh.

 

[Parsa44]

I certainly have. Google finance =D
The stimulus plan does work temorarly till shareholders fold and sell.

(If you wanna know what i mean reply and i will explain)

 

[ichwar]

Parsa, I understand what you mean... But it will not fix our economy in the long run. It's just putting off another great depression for a later date. And the longer it gets pushed out, the bigger and more devastating it will be when it comes.

 

[mesenberg]

the stimulus plan is just a bunch of agenda spending that has barely anything to do this the economy. Its just putting me (as a younger person) in debt when all the older people are gone later down the road.

 

[ichwar]

the stimulus plan is just a bunch of agenda spending that has barely anything to do this the economy. Its just putting me (as a younger person) in debt when all the older people are gone later down the road.

I agree. We are going to have to pay back all those billions of dollars through our taxes, and it won't be pleasant. The plan might create more cash flow in our economy for about a month or two or maybe three, but then after that, our economy will be in even worse shape than it was in before because our national debt will have increased billions of dollars.

 

[Parsa44]

I think there are two main reasons why this started

1. The war we spent billions on it

2. And the greed and little thinking of people who got loans when they could never pay them off.

 

[Smith6612]

I've been watching it. I have a widget on the Vista Sidebar that gets stock info. The Dow hasn't been quite happy lately...

 

[goldblue]

Have stopped following it. Too depressing.

 

[ichwar]

2. And the greed and little thinking of people who got loans when they could never pay them off.

Not just the greed. It's the government who forced the banks to give loans to every one who applied for them, not just those who had good credit.
Edit:

I've been watching it. I have a widget on the Vista Sidebar that gets stock info. The Dow hasn't been quite happy lately...

Yeah, now the dow is down to an 11 year low!
Edit:

Have stopped following it. Too depressing.

depressing?!? this is what I live for. :thefinger
it's so fun to watch the dow go up and down and people going crazy and committing suicide over it!!!

 

[boris333]

Right now the situation with the Dow is terrible, and I don't think a lot of people are concerned enough about what it means for them.

On the flip side, though, it is somewhat entertaining watching it dive down every time Obama opens his mouth.

 

[ichwar]

On the flip side, though, it is somewhat entertaining watching it dive down every time Obama opens his mouth.

lol, yeah, you're right

I think we're gonna get another great depression sometime.
Anyone else think so?:dunno:

 

[ichwar]

oh no, the dow went up a bit. lol :hahano:

 

[ichwar]

who here thinks it possible (not probable, just possible) that we would ever move back onto the gold standard again?

 

[JKoltner]

I'm certain we won't be going back to the gold standard... ever.

While Obama and his cronies are creating unprecendented amounts of debt right now, keep in mind that the U.S.'s debt as a portion of GDP is still lower than any other big country. So while it's true we're spending our great grandkid's money, well, we're just now joining an international crowd that's been doing the same thing for years.

Also keep in mind that pretty much no one in any country ever expects to pay off their debts -- interest on national debts these days is just seen as something of a "subscription" price to get to play in world politics: The more debt some country owes you, the more you can lean on them for policies favorable to you.

Countries like China don't actually expect -- or even want -- the U.S. to completely pay off its debt to them.

The long and short of it is that the U.S.'s standard of living for the average person is going to drop down a few notches in the coming years -- not quite as many new "toys" each year as we have now... although there might be a better healthcare system in place with a bit of luck.

---Joel

 

[ichwar]

yeah, America's probably got too much debt now to ever move back to the gold standard. Maybe the U.S. should file bankruptcy and start over using the gold standard. lol

 

[aushol]

Why get yourself depress by checking up on Wall Street?

 

[ichwar]

Why get yourself depress by checking up on Wall Street?

I don't. I find it very funny to watch wall street.:thefinger

 

[frankfriend]

Given the falls and rises perhaps there is a market for telescopes & roller coaster cars? Seriously all of us are losing money bigtime, unless we have no assets, prospects, and live on an allotment?

 

[ichwar]

I disagree with that. Stocks are rising still, and our house could already sell for more than we paid for it. It's the people who don't pay off their debts who end up losing. I have a neighbor who says she can just pay off their interest each month, nothing else. It's that bad.

 

[garrettroyce]

It's great for me. As a first time homebuyer, I may get into a house built in 2004 for $130,000 for $65,000. Just waiting on the paperwork now.