Stock markets take beating

[Maximus]

All markets tumbled today, DJIA below 8000, FTSE 100 dangerously close to 4000, and other markets down by an average of 6% for the day.

Painful times ahead for investors...

[quexos]

Originally Posted by Maxpower1987

All markets tumbled today, DJIA below 8000, FTSE 100 dangerously close to 4000, and other markets down by an average of 6% for the day.

Painful times ahead for investors...

Yep that's why they call this a financial crisis. Maybe capitalism as we know it should be re-thought ? It's obviously not working well.

[toef]

Originally Posted by quexos

Yep that's why they call this a financial crisis. Maybe capitalism as we know it should be re-thought ? It's obviously not working well.

Or maybe it was working too well for a minority of people?

[Rob71]

Originally Posted by toefer

Or maybe it was working too well for a minority of people?

The hard working ones?

[ground chuck]

get ready for another beating today as oversea markets are down 7% in asia 2% in europe.

[camper]

The media and analyists are screaming about how we're still not seeing the bottom, and how it will still fall further before it goes up. So people aren't investing because they're too busy waiting, compounding the problem more.

See: http://en.wikipedia.org/wiki/Self-fulfilling_prophecy

Once the 'bottom' is declared, you will see massive investing as those who have been sitting on the sidelines in order to maximize their profits.

Same thing that's going on now, most people are waiting for the black friday ads to come out before they make a big purchase. Are you going to buy a 50" TV today that might be $400 cheaper in a week or so?

camper

[Jimbo976]

Originally Posted by Maxpower1987

All markets tumbled today, DJIA below 8000, FTSE 100 dangerously close to 4000, and other markets down by an average of 6% for the day.

Painful times ahead for investors...

Stock Markets take a beating - what's new?

I don't even bother looking at my retirement account balances any more.

[stockstar1138]

Dow could go as low as mid-5000s IMHO. Thats worse case scenario. This isn't going to get all straightened out though til almost 2011.

All I'm going to say, is people need to start taking more responsibility for themselves and for the upbringing of their children. That would fix 95% of the problems.

The other 5% lies with exactly what we saw yesterday. These goofball CEOs thinking they can fly into washington in their private jets and want billions of OUR MONEY! Tell them all, your out of a job. We can fix that problem real fast. Make them file for bankruptcy. Right now, these jerks want you to think, if the government doesn't give them billions, that Detroit will go under and all the people will lose their jobs. That simply isn't true, they are trying to hold the country hostage with fear tactics. Reform Detroit and it starts with kicking these guys to the curb.

[mikejet]

Detriot wouldn't be in trouble if Chevy had the Volt ready when the Prius came to market. They are a little late to the hybrid party.

GM lost their motorcycle deal with every single cop in the US. BMW is making a killing off that contract.

I think I'm gonna start investing in PCU and set it to DRIP.

[stockstar1138]

Originally Posted by mikejet

Detriot wouldn't be in trouble if Chevy had the Volt ready when the Prius came to market. They are a little late to the hybrid party.

GM lost their motorcycle deal with every single cop in the US. BMW is making a killing off that contract.

I think I'm gonna start investing in PCU and set it to DRIP.

They hybrid market still makes up only a very small portion of the auto industry, cop motorcycles, even smaller.

Certainly, these things contributed and show how poorly run these companies were, but there was way more to the problem than hybrids and cop motorcycles.

[mikejet]

Originally Posted by stockstar1138

They hybrid market still makes up only a very small portion of the auto industry, cop motorcycles, even smaller.

Certainly, these things contributed and show how poorly run these companies were, but there was way more to the problem than hybrids and cop motorcycles.

Yeah, UNIONS.

Unions are not needed in this day and age in the US. When we were a young country that abused it's workers, yes, unions were needed. Now, not so much.

[Deadset]

The people plugged into investing, tracking, establishing their efficient frontier probably saw this coming. Tracking methods take a severe amount of time to implement but are worth it.

EDIT: However Brinker didn't really take the signs to heart. His latest newsletter is basically an apology and how the markets really surprised them. Never underestimate Fear.

[stockstar1138]

Originally Posted by mikejet

Yeah, UNIONS.

Unions are not needed in this day and age in the US. When we were a young country that abused it's workers, yes, unions were needed. Now, not so much.

wasn't going to say it due to the rules of the forum, but

[Show spoiler]+1

.

Ill add though, that I think you take it to the opposite end of the spectrum. Unions still have their place, they just need big reform.

They need to be honest with themselves and realize that the world economy is here to stay and that the competition just increased greatly. There are other men and women out there who will do a job for less and you some how have to compete with that. Its a very tricky situation.

They need to tell the workers though, health care is not a right, its a benefit. Retirement in your 60s is not a right, Retirement is a benefit. Everybody is having to give something in these times and if you guys aren't willing to give, well, then there is a good chance you are all going to lose your jobs.

[mikejet]

Originally Posted by stockstar1138

wasn't going to say it due to the rules of the forum, but

[Show spoiler]+1

Was that political? I thought that was business talk :P Unions were started as business venture by unskilled labor to earn rights. After they won their rights they should have dissolved. Now the fatcats that run them make tons and charge their members outrageous fees that they justify because they say if you get rid of us you lose all those benefits.

There's a reason they always make fun of unions in TV and movies. Hollywood film sets for major productions are a JOKE. Does it really take that many grips and assistant directors on a set? No. I mean somewhere someone is getting coffee for someones assistants assistant.

I just use that as an example though because it's not that bad in industrial plants but it's getting close. Union leaders drive around in Benz's and BMW's while their workers get by in a used Honda.

I think if you shave off the amount of wages that are given to unions and give them directly to the employees then they would be better off.

[stockstar1138]

Originally Posted by mikejet

Was that political? I thought that was business talk :P Unions were started as business venture by unskilled labor to earn rights. After they won their rights they should have dissolved. Now the fatcats that run them make tons and charge their members outrageous fees that they justify because they say if you get rid of us you lose all those benefits.

There's a reason they always make fun of unions in TV and movies. Hollywood film sets for major productions are a JOKE. Does it really take that many grips and assistant directors on a set? No. I mean somewhere someone is getting coffee for someones assistants assistant.

I just use that as an example though because it's not that bad in industrial plants but it's getting close. Union leaders drive around in Benz's and BMW's while their workers get by in a used Honda.

I think if you shave off the amount of wages that are given to unions and give them directly to the employees then they would be better off.

i don't know, its a bit of both (business and politics), its def. treading on a fine line, especially if the govt. lets Detroit go bankrupt, which they will.

[Bigdog]

Originally Posted by stockstar1138

i don't know, its a bit of both (business and politics), its def. treading on a fine line, especially if the govt. lets Detroit go bankrupt, which they will.

Which i believe is what needs to happen, going bankrupt means the union gets forced out due to a restructure of the entire company.

Handing them over a blank check will solve nothing, and once again that fat gay bastard in congress is trying to appease his union buddys by trying to force the tax payers yet again to bail out a failing buisness model. Everyone needs to read Mitt Romeys artical about this situation, why we have people like Frank calling the shots in congress is why our economy is in and will continue to be in the tank!

[eChopper]

wait when the $1300 trillion USD worldwide derivatives market comes home to roost

Picture Bernanke and Paulson standing at the beach fending off the tidal wave with ice cream sticks

[dialog_gvf]

Originally Posted by Maxpower1987

All markets tumbled today, DJIA below 8000, FTSE 100 dangerously close to 4000, and other markets down by an average of 6% for the day.

Painful times ahead for investors...

And now well below 4000.

Is there any point being an investor any more?

Gary

[DeathByAsh'aman]

Originally Posted by dialog_gvf

And now well below 4000.

Is there any point being an investor any more?

Gary

investor, not now. trader? hell yes.

[U4K61]

Originally Posted by Jimbo976

Stock Markets take a beating - what's new?

I don't even bother looking at my retirement account balances any more.

2008
My monthly Fidelity portfolio statements come, well, once a month. They sit un-opened on my desk.

2009
I did finally have to check them out to do my taxes. I was happy to discover that I only lost half my money.

2010
While the market is still quite a bit off its high, I have made most of my money back. Will I be in the bacl soon? Made a good bet with Apple.