Stock Market today. . . .

Is anyone else in a state of shock? I find the market's collapse completely demotivating and depressing.

 

Saddened in a fashion, but neither shocked nor surprised. I did find the global banking industry needing "bail-outs" of their own destressing as well.

 

If you want major depression then I saw on the news a few days ago that the US is in debt at around $10 TRILLION ! They showed a picture of the national debt clock and it goes up at about $5000 per second.

I don't even know how to divide $10 trillion by the 300 million or so that live in the US. Perhaps some of the smarter forum members can do that.

 

I think we each owe about $33K and the debt is gone. (Rather, if each of us went into $33K of additional debt, we could pay off the national debt, but we can't because none of us can get the credit we need to go that deep into debt anymore . . . . )

 

I divided the numbers in an excel sheet and got 32786.88525

 

The very core of Capitalism has been challenged and found wanting.

The trouble for us out here is the realisation that the worst is yet to come.

The cornerstone - the strength of the USA - has been found to be a mirage.

And it's worth reflecting that the Muslims don't allow charging interest.

 

The same sanction was held in the Christian world until well into the 1600s, when only Jews could charge usuary. It was the Dutch who changed the name of the fee to "interest", and got around the Church ban on same. The Muslim world is only banned from charging interest on other Muslims, the rest of the world is fair game.

 

How odd it is to feel better since the Dow only dropped by about 350 points . . . . !

 

To say nothing about the European and Asian markets.

 

California wanted 7 Billion from the Feds, now Massachusetts want 223 Million to cover shortfalls for the first quarter, 750 Million right away. Illinois has a 43 Billion deficit in their State Pension fund.
Democrats all.
The time of the "Tin-Cup". Gimmy gimmy gimmy when is it enough.
Harry Reed (Senate Majority Leader "Democrat") wants another bail-out before the election. 700 billion wasn't enough.
Who said it would be a glass of water on a forest fire, that we should shoot down something put together (with Pages & Pork) so quickly.
It wont end now, except in (possibly) total disaster.
It's set a "President" to everyone else.

 

Boy Herkie, just aren't "we" seeting with piss and vinegar today. If it weren't for the USA, ol Thailand would still be back in the Stone Ages in technology and in other areas. Some of MY tax-paying Dollars are sent to YOUR greedy undeserving and VERY litle toy Country-which is nothing but a frigging waste. Also to hear this from you even though you benefit from the AMERICAN working taxpayers.

 

should we be surprised at all this and then Europe having tissy fits since we had a small crunch.

it's time for level heads gentlemen, do not freak out.

we will get past this like hard times before us, our parents, grand-parents can all tell you horror stories of years gone by

v/r

E ~

 

Im just getting tired of someone bitching American this and American that-when especially they and their country-is getting Billions of free American tax-dollars-so that several grewedy higher-ups can siphon away a lot of that money so they can buy one of those tiny Bermudan Islands-to retire on OUR sweat and hard work. I wish our damed govt would quit sending them our money-snd spend that money on Americans.

 

And I wish so much that you kept your money.

Stone Age indeed! You are clearly very ignorant of Asian countries. Why am I not surprised?

 

It could have been far worse. I checked it at around 3:00 EST and noticed it was down 750 points. I was surprised it came back 400 points in an hour and a half

 

There is no major news today so I think the markets will be cautious with limited movement up or down. I expect the Dow will stay within 30 points of its starting point all day. Although I would like to see it stage a bit of a rally, I don't see that happening in light of the shellshock of yesterday. If the traders can live through this day without more trauma, that will be enough.

The past few weeks have been a bit like the Allies response to the Ardennes Offensive. Stop the push and wait for clear weather so we can take back what we gave up! Just hope you don't get killed first.

 

Banks are collapsing everywhere. Unfortunately it seems like the situation just started and will last along time to recover from it all. We did have this in the early 90´s and it seems nobody learnt much back then, to be honest.

 

Deal Journal - WSJ.com : Meet Neel Kashkari: The Man With the $700 Billion Wallet

All the best to that man...

 

Problem is we just keep losing ground. In the last year the stock market is down almost 4000 points.

 

Actually, it is down more than 4,000 points. At one point yesterday it was close to being down 5,000 year to year. Nevertheless, I believe that the floor is 9,000. I won't really start to worry unless I see it drop below that.