• Posts: 308

Topic: 1 year Anniversary of DOW all time high

yup. If i was told last year that dow was going to be at 8500 the next year i would have laughed at whoever told me it. Now we are staring at the largest percent drop of the DOW since 1987.

Oct. 9 2007 DOW=14,166
Oct. 9 2008 DOW=8, 579

I think that the real reason for all this is risky loans given by banks. Let us not forget that the Clinton administration encouraged this especially from Fannie and Freddie because it gave loans to low income people. But the sad fact about this all is that the companies that played risky and lost are going to be bailed out while the companies that played safe get nothing. This is the reason why i stand against the bailout package.

any other thoughts?

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  • Posts: 176

Re: 1 year Anniversary of DOW all time high

The only upside about all this is that the flight of U.S capital from foreign markets and the selldown of commodities has pushed up the relative value of the U.S dollar. Which means that China's U.S denominated holdings aren't doing quite so badly as they were before. Yen has done quite nicely too.

It's clear that the Americans need a show of strength during a time like this to restore confidence to their markets. China can provide this by using alot more of its > $1 Trillion reserves to buy up a large equity stake in every major U.S company to the full extent permissible. This would be a major boost to the markets and the benefit for them is that I think there's no better time to make the shift from a holder of debt to equity.

If they make such a request, hopefully congress gives the greenlight rather than resorting to pesky provincial, protectionist rhetoric.

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  • Posts: 308

Re: 1 year Anniversary of DOW all time high

Ya. Im indian so i watch the dollar vs rupee value often. few months back it was 1USD = 38 rupees now it is 1USD=48 rupees. but i live in the US so this is good for me in case my dad wanted to send some money back big_smile

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  • Han
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Re: 1 year Anniversary of DOW all time high

Well some overseas markets are going to hit circuit breakers and close tonight, that means some PPT intervention tonight or carnage tomorrow.

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  • Posts: 183

Re: 1 year Anniversary of DOW all time high

In my eco 101 class, we were taught that beer is sold in bigger quantities during troubled times.

For some reason, this warms my alchoholic soul big_smile

I am all-in on electrics.

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  • Posts: 308

Re: 1 year Anniversary of DOW all time high

I wonder what is going on russia. I hear that they keep shutting down their markets big_smile big_smile big_smile

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Re: 1 year Anniversary of DOW all time high

Ahh landmarks, gotta love them big_smile

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Re: 1 year Anniversary of DOW all time high

ahhh man...this is a WONDERFUL opportunity for anyone who's in their thirties or twenties or even in their fourties

i'm kinda happy actaully tongue, cuz i'm guna get some great stocks at some great prices, i'll probably start using atleast some of my money to start buying probably as early as november even..

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Re: 1 year Anniversary of DOW all time high

Better wait another 1.5-2 years and then buy real estate at the then-stable low.

It's far from over yet,  banks took first heavy hit, rest of the economy will duely follow.

☑ Saddam Hussein ☑ Osama Bin Laden ☐ Justin Bieber

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