emiliep Posted March 30 Report Share Posted March 30 being on clubplanet takes me away from the reality that people are getting CRUSHED in the market! i'm a broker over at dreyfus and i deal with people day in and day out who are losing there freakin retirement! when i started in this business, the dow was almost 12,000! now, it seems every stock is reaching new lows everyday. what's wrong with this picture???? Quote Link to comment Share on other sites More sharing options...
anthony Posted March 30 Report Share Posted March 30 Can we say BUSH?------------------13 wild years of Junior Vasquez!!! DROP A HOUSE ON THAT BITCH!!! Quote Link to comment Share on other sites More sharing options...
emiliep Posted March 30 Author Report Share Posted March 30 Originally posted by anthony:Can we say BUSH? Quote Link to comment Share on other sites More sharing options...
blackhaus1 Posted March 30 Report Share Posted March 30 Don't even start by saying this is Bush's fault....this is the result of the Fed keeping interest rates too high for too long, and as a result, the economy crashes...If you wanna point fingers, The Federal Reserve or Mr. Greenspan is the way to go.. ------------------ Quote Link to comment Share on other sites More sharing options...
igloo Posted March 30 Report Share Posted March 30 The elements that have led to this crushing were in place long before Bush took office... Quote Link to comment Share on other sites More sharing options...
monical Posted March 30 Report Share Posted March 30 this has not ounce to do with bush, the economy was headed towards a recession during clinton's last months, bush has been in office for barely 2 months, he could not have made that much of an impact.... Quote Link to comment Share on other sites More sharing options...
blackhaus1 Posted March 30 Report Share Posted March 30 At least some people here have BRAINS! ------------------ Quote Link to comment Share on other sites More sharing options...
bre5379 Posted March 30 Report Share Posted March 30 Because of this my company is having cut backs. You know what that means...people will be losing their jobs. Breann Quote Link to comment Share on other sites More sharing options...
ichernomor Posted March 30 Report Share Posted March 30 The stockmarket crush has nothing to do with neither Bush, not Greenspan. It is not Fed's job to bail the market out every time degenerate gamblers investing in tech stocks drive the market through the roof and then suffer losses froma bursting bubble. Fed's job is to make sure that economic growth and inflation stay in balance. Everyone has been so optimistic for the past three years that a great amount of excess capacities and inventories has been created. The slowdown in the economy and the increase in unemployment is due to that factor. But even with all the negativity, our economy is still growing at close to 3% per year. Those who did not speculate with their retirement money, but stuck to a comprehensive, diversified strategy did not suffer bad losses. Thus, I have no pity for people who lost all their savings. For average Joes, the stock market is a tool to preserve wealth, not gamble with it. If you want to gamble, you go to a casino.------------------Quitters never win and winners never quit! Quote Link to comment Share on other sites More sharing options...
bionic Posted March 30 Report Share Posted March 30 I'm a trader on an arbitrage desk and have been in the biz for about 7 yrs. I have to say that I completely agree with blackhaus.Its no more Bush's fault the mkt is as bad as it is as it was Clintons fault it was so good in years past.Big Allen caused the gigantic bubble in the economy.Thank God I was mostly cash for this whole debacle GET BACK IN THERE AND SELL MORTIMER SELL!!!![This message has been edited by bionic (edited 03-30-2001).] Quote Link to comment Share on other sites More sharing options...
blackhaus1 Posted March 30 Report Share Posted March 30 Originally posted by ichernomor:It is not Fed's job to bail the market out every time degenerate gamblers investing in tech stocks drive the market through the roof and then suffer losses froma bursting bubble. Fed's job is to make sure that economic growth and inflation stay in balance. Everyone has been so optimistic for the past three years that a great amount of excess capacities and inventories has been created. The slowdown in the economy and the increase in unemployment is due to that factor. But even with all the negativity, our economy is still growing at close to 3% per year. Those who did not speculate with their retirement money, but stuck to a comprehensive, diversified strategy did not suffer bad losses. Thus, I have no pity for people who lost all their savings. For average Joes, the stock market is a tool to preserve wealth, not gamble with it. If you want to gamble, you go to a casino. The Feds job is to keep interest rates at a steady number based on the present economic factors. They kept rates so high for so long, that created excess inventories, not optimism! Car sales go down & home sales decrease with high interest rates b/c its unaffordable to pay back loans with high rates. People start to get laid off when their employers aren't making enough cash to pay them. Positive feelings about the economy are then lost.Once the general public fears economic downturn, they pull their money out of investments, which any smart person would do. If someone told you that you were going to lose 10 grand, would u withdraw your cash in the blink of an eye? I sure as hell would. If people were smart, we'd all be invested in conservative investments like federally insured bonds, REITs and mutual funds that have low annual yields but have a 1% chance of ever losing any $. I'd also like to know where you got your fact that our economy is growing at 3% a year. Fact is that we are in economic downturn and it happens. We've gotten thru it before and we'll get thru it again. Its called the Cycle of Economics.------------------ [This message has been edited by blackhaus1 (edited 03-30-2001).][This message has been edited by blackhaus1 (edited 03-30-2001).] Quote Link to comment Share on other sites More sharing options...
ichernomor Posted March 30 Report Share Posted March 30 Originally posted by blackhaus1: The Feds job is to keep interest rates at a steady number based on the present economic factors. They kept rates so high for so long, that created excess inventories, not optimism! Car sales go down & home sales decrease with high interest rates b/c its unaffordable to pay back loans with high rates. People start to get laid off when their employers aren't making enough cash to pay them. Positive feelings about the economy are then lost.Once the general public fears economic downturn, they pull their money out of investments, which any smart person would do. If someone told you that you were going to lose 10 grand, would u withdraw your cash in the blink of an eye? I sure as hell would. If people were smart, we'd all be invested in conservative investments like REITs and mutual funds that have low annual yields but have a 1% chance or losing anything ever or in federally insured bonds. I'd also like to know where you got your fact that our economy is gorwing at 3% a year. Fact is that we are in economic downturn and it happens. We've gotten thru it before and we'll get thru it again. Its called the Cycle of Economics.Let's not oversimplify the situation. First let's look at the statistics: We are indeed experiencing a slowdown in the economy, but our GDP has grown 2.8% counting the last quarter, hence such a strong dollar. Maybe you should look it up on Blooberg if you have one. Secondly, the US stock market is only one among many factors that the Fed looks at when it makes its decisions. Everybody starts screaming at the Big Al when he is critisizing the market using unknown to you words "irrational exuberance." At that time everybody agrees that it is not Fed's job to oversee and comment on equity markets. Now, that we are in the shitter, everybody wants the Fed to help them.The Fed has nothing to do with excess inventories and capacities - inefficient, over-optimistic managements do. Interest rates are lower now than they were when NASDAQ grew 90% in one year. Most profit warnings are coming from Tech companies. Most other industries are pretty stable. So, yes, I agree that now the Fed should step in and lower interest rates by at least another 50 basis points in order to bail the equity markets out and for a variety of other factors such as failing Japanese economy, falling retail sales, declining consumer confidence (all due to shitheads driving the market through the roof for no good reason), etc. But blaming our economic troubles exclusively on the Fed is as retarded as saying that the economic growth we have been experiencing in the past few years is due exclusively to Clinton's administration.Maybe next time, before you make idiotic comments, you should follow the market events for a little while, read some financial literature, and re-visit your economics books.------------------Quitters never win and winners never quit! Quote Link to comment Share on other sites More sharing options...
jprutig Posted March 30 Report Share Posted March 30 all i see is some amazing buying opportunites out there now.bought same last week and going to buy more soon.three words, kids:long term investment------------------you can judge the quality and content of one's character by the way they treat someone that can do nothing for them... Quote Link to comment Share on other sites More sharing options...
korzo- Posted March 30 Report Share Posted March 30 Originally posted by ichernomor: Let's not oversimplify the situation. First let's look at the statistics: We are indeed experiencing a slowdown in the economy, but our GDP has grown 2.8% counting the last quarter, hence such a strong dollar. Maybe you should look it up on Blooberg if you have one. Secondly, the US stock market is only one among many factors that the Fed looks at when it makes its decisions. Everybody starts screaming at the Big Al when he is critisizing the market using unknown to you words "irrational exuberance." At that time everybody agrees that it is not Fed's job to oversee and comment on equity markets. Now, that we are in the shitter, everybody wants the Fed to help them.The Fed has nothing to do with excess inventories and capacities - inefficient, over-optimistic managements do. Interest rates are lower now than they were when NASDAQ grew 90% in one year. Most profit warnings are coming from Tech companies. Most other industries are pretty stable. So, yes, I agree that now the Fed should step in and lower interest rates by at least another 50 basis points in order to bail the equity markets out and for a variety of other factors such as failing Japanese economy, falling retail sales, declining consumer confidence (all due to shitheads driving the market through the roof for no good reason), etc. But blaming our economic troubles exclusively on the Fed is as retarded as saying that the economic growth we have been experiencing in the past few years is due exclusively to Clinton's administration.Maybe next time, before you make idiotic comments, you should follow the market events for a little while, read some financial literature, and re-visit your economics books.Ouch!! ------------------Can you feel that rhythm moving through your system? Quote Link to comment Share on other sites More sharing options...
blackhaus1 Posted March 30 Report Share Posted March 30 Originally posted by ichernomor: Let's not oversimplify the situation. First let's look at the statistics: We are indeed experiencing a slowdown in the economy, but our GDP has grown 2.8% counting the last quarter, hence such a strong dollar. Maybe you should look it up on Blooberg if you have one. Secondly, the US stock market is only one among many factors that the Fed looks at when it makes its decisions. Everybody starts screaming at the Big Al when he is critisizing the market using unknown to you words "irrational exuberance." At that time everybody agrees that it is not Fed's job to oversee and comment on equity markets. Now, that we are in the shitter, everybody wants the Fed to help them.The Fed has nothing to do with excess inventories and capacities - inefficient, over-optimistic managements do. Interest rates are lower now than they were when NASDAQ grew 90% in one year. Most profit warnings are coming from Tech companies. Most other industries are pretty stable. So, yes, I agree that now the Fed should step in and lower interest rates by at least another 50 basis points in order to bail the equity markets out and for a variety of other factors such as failing Japanese economy, falling retail sales, declining consumer confidence (all due to shitheads driving the market through the roof for no good reason), etc. But blaming our economic troubles exclusively on the Fed is as retarded as saying that the economic growth we have been experiencing in the past few years is due exclusively to Clinton's administration.Maybe next time, before you make idiotic comments, you should follow the market events for a little while, read some financial literature, and re-visit your economics books.Ok relax there buddy, I never claimed to be a financial analyst, I am a mere 20 yr old who took macroeco in college, remembers a few things, and has a solid head on their shoulders.Our GDP grew in the last quarter primarily b/c that was before we started having economic problems. The fed indirectly has to do with excess inventories specifically b/c with high interest rates, people cannot afford to make high risk purchases such as cars and home, thus yielding a poor real estate and automobile market. Had the Fed cut rates at the first sign of economic downturn, perhaps we wouldn't be stuck where we are today. If they acted at the first sign, this whole mess could have been avoided b/c no one would have ripped their money out of the market as quickly as they did.You say that most other industries are relatively stable however, I'm willing to wager that its certainly not the tech stocks that are shooting down. My family alone, who isn't that heavily invested has lost $10000 in the past 3 weeks, trying to ride out the storm, and our stock could not be further from a tech stock.I never blamed this directly on the fed, but thats where the root of the problem lies. They control the majority of decisions made regarding the market, right or wrong? When the market was up, everyones patting big al on the back...now that its down, he doesn't want the blame?? Well, he deserves it. Not one of my comments was idiotic, I was merely stating facts, and the name calling is pretty mature.------------------ Quote Link to comment Share on other sites More sharing options...
ichernomor Posted March 30 Report Share Posted March 30 Originally posted by blackhaus1: Ok relax there buddy, I never claimed to be a financial analyst, I am a mere 20 yr old who took macroeco in college, remembers a few things, and has a solid head on their shoulders.Our GDP grew in the last quarter primarily b/c that was before we started having economic problems. The fed indirectly has to do with excess inventories specifically b/c with high interest rates, people cannot afford to make high risk purchases such as cars and home, thus yielding a poor real estate and automobile market. Had the Fed cut rates at the first sign of economic downturn, perhaps we wouldn't be stuck where we are today. If they acted at the first sign, this whole mess could have been avoided b/c no one would have ripped their money out of the market as quickly as they did.You say that most other industries are relatively stable however, I'm willing to wager that its certainly not the tech stocks that are shooting down. My family alone, who isn't that heavily invested has lost $10000 in the past 3 weeks, trying to ride out the storm, and our stock could not be further from a tech stock.I never blamed this directly on the fed, but thats where the root of the problem lies. They control the majority of decisions made regarding the market, right or wrong? When the market was up, everyones patting big al on the back...now that its down, he doesn't want the blame?? Well, he deserves it. Not one of my comments was idiotic, I was merely stating facts, and the name calling is pretty mature.Sorry about the name calling. Instead of 'idiotic' I should have used 'immature' or 'simplistic'. As you said in your previous comment, our economy goes in cycles. And regardles of what people do/say (be it Greenspan, president, or god), what goes up, must come down. We should applaud the Fed for prolonging the economic growth for as long as they did. But they base their policies/decision on certain indicators and models. They can't rely on gut-feelings or black magic to forsee the future. People always try to find a scape-goat when something goes wrong. It is always easier to point your finger at somebody than accept responsibility. Thus, everybody is saying the the Fed fucked up, while it is not really true.There are many factors to blame: 1. Media for fueling an unprecedented growth in tech stocks and stock-market speculation among non-professionals; 2. Government for essentially doing the same thing as the media and taking credit for something that Reagan started; 3. Lenders and venture capitalist who entered enormous deals with firms that showed little promise: e.g. E-Toys, Pets.com, etc.; 4. Average Joes and Janes who imagined that they are big-swinging-dick traders and decided to gamble with their retirement/college money 5. Y2K - because most large corporation decided to replace/update their computer systems and now will not spend as much on new software/equipment; 6. Etc, etc, etc.I think that the Fed has done a superb job for as long as I have been following it - since '93. Hopefully, the measures that they are taking will help the economy to get on its feet again. We could argue endlessly about who's right and who's wrong, and neither of us might be right. Thus, let's finish this squabble by wishing both the stock-market and the economy well.------------------Quitters never win and winners never quit! Quote Link to comment Share on other sites More sharing options...
starchild- Posted March 31 Report Share Posted March 31 Enough of your bickering, I lost my job yesterday from this. Look up MRCH on Nasdaq. $80 fourteen months ago, and trading was suspended last week at $0.18. A debt spiral is what they're calling it... Anyone got work for a guy in the tech sector w/ 4 years experience? Quote Link to comment Share on other sites More sharing options...
cathyo Posted March 31 Report Share Posted March 31 AAAAAAAAHHHHHHHHHH! I feel like I'm at work!This was all coming for a long time. There is really no need to panic. It all just went up waaaay to fast. You have to expect a correction equivalent to the climb.I see all these people putting stop limits on bluechips that you KNOW are going to come back. Patience is a virtue.------------------ ~*~*~Don't use time or words carelessly, neither can be retrieved.~*~*~ Quote Link to comment Share on other sites More sharing options...
blackhaus1 Posted March 31 Report Share Posted March 31 There is no point in arguing with you. I have my view, you have yours and thats that. Have a nice night ------------------ Quote Link to comment Share on other sites More sharing options...
msoprano Posted March 31 Report Share Posted March 31 im toooo affraid to look at my account ------------------ "don't get attached to anything you're not willing to walk out on in 30 seconds flat if you spot the heat coming around the corner"Robert DeniroTUNNEL SATURDAY'S "SOPRANO GUEST LIST"AIM:MSOPRANO13Email: msoprano13@yahoo.com "IM GONNA MAKE YOU AN OFFER YOU CANT REFUSE" MSOPRANO13 Quote Link to comment Share on other sites More sharing options...
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