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Post by pcups on Oct 7, 2008 22:42:17 GMT -4
DED
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Post by boorules60 on Oct 8, 2008 1:35:43 GMT -4
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Post by boorules60 on Oct 8, 2008 16:36:38 GMT -4
Oh, and we must now refer to Obama as "That One" Who's supposed to be the demeaning elitist McCain? Fucking hypocrite.
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Post by pcups on Oct 8, 2008 19:42:06 GMT -4
Don't get me started on the republicans and their hypocrisy.
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Post by boorules60 on Oct 9, 2008 19:32:04 GMT -4
Another 7.3% today. Jesus...
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Post by d on Oct 10, 2008 12:00:17 GMT -4
Hey B,
If the goal is to buy low, is this the time? Actually, I'm not totally kidding.
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Post by d on Oct 10, 2008 12:09:27 GMT -4
Oh, did you know the chinese stock exchange is down 70%?
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Post by pcups on Oct 10, 2008 14:04:39 GMT -4
D, I actually told my Mom, "I wanna buy some stocks, preferably from energy and blue collar industries." Usually after an economic crises, infrastructure is boosted. Usually... Ben, wanna help me buy some stocks this weekend?
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Post by d on Oct 10, 2008 15:12:19 GMT -4
I wouldn't buy GM! LOL Steel companies are coming back because of the transportation costs needed to import steel here.
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Post by boorules60 on Oct 12, 2008 20:31:45 GMT -4
I'd recommend buying now except I don't think the market has bottomed out yet. There's no real evidence that the economy is getting better, and I certainly don't think that investors have any kind of renewed confidence. Before you buy, make sure that things are starting to look up (maybe after the election or inauguration).
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Post by punkybruster on Oct 13, 2008 18:24:02 GMT -4
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Post by boorules60 on Oct 13, 2008 19:41:53 GMT -4
Fucking "Dim-witted" Bigots
And what the fuck was with the DOW today? You should have bought some stock this morning P_Cups.
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Post by pcups on Oct 14, 2008 11:13:46 GMT -4
I FUCKING KNOW! I'm Pissed now. I wish the stock market would go back down.
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Post by boorules60 on Oct 15, 2008 20:13:58 GMT -4
I read this today, so kudos to the original author...
The Financial Crisis In Under 400 Words:
-Fed lowers interest rates after 9/11 economic woes.
-Real estate boom begins due to cheap mortgage rates.
-Shady mortgage brokers are able to sell doomed subprime mortgages to unqualified borrowers due to a complete lack of oversight and regulation in the industry.
-Many of the shady loans have a fixed rate for 2 years that will increase after that.
-Instead of holding mortgages and collecting the interest, lenders pool them together into huge financial instruments called MBSs that pay a yield like a bond or savings account based on the income of the underlying mortgages.
-The fact that they are selling the mortgages off and not keeping them makes lenders care even less about the quality of the loans they write. So they write more shady loans. A LOT more.
-Real estate prices go through the roof since everyone and their homeless uncle wants to and CAN buy a house now. Demand is through the roof.
-The buyers of the MBSs, huge financial institutions and investment banks like AIG and Lehman ignorantly think that real estate prices can’t go down too much because after all, it’s real estate and they ain’t making more of it.
(Cue Ominous Crisis Music HERE.)
-All the low 2 year fixed mortgage rates go up and homeowners can’t afford them anymore. They start to default.
-The huge financial institutions, like AIG and Lehman, are holding onto MBSs to the tune of billions of dollars, thinking of it as a safe haven for their money, the way you would think of a bond.
-As the mortgages increasingly default, the value of the MBSs plummet along with the net worth of the financial institutions holding them. Word gets out to consumers and some rush to withdraw their money from consumer banks causing bank collapses.
-Many financial institutions, broke and scared, panic and stop lending money to each other or anyone for that matter basically freezing the flow of money through the financial system.
-Without cash flowing banks can’t carry on their normal operations and smaller businesses can’t get loans for their daily operations much less to expand or grow.
-The entire economy freezes, the stock market plummets with future GDP and earnings growth prospects looking terrible.
And here we are…
SOLUTION:
1. More liquidity to grease the system and get it going again. 2. A restoration of confidence in the economy.
How to do that exactly is incredibly contentious and is what everyone is fighting about now.
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Post by pcups on Oct 16, 2008 11:00:19 GMT -4
... Pie!
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