Originally posted by jsobecky
Anheuser-Busch said that operations will remain in the US - As long as there are no new taxes imposed on them.

That's key. That's why McCain gave tax breaks to companies - so that they would keep their business in the USA. Something that Obama didn't seem to understand during the primaries.

Actually I'm shocked that the DOW is as high as it is.
I figured it would have crashed and burned by now.
Surprise! It's taking a few weeks longer than I thought.

7,997.20 -427.55 -5.07%

glad I got out in September and converted to gold coins

Originally posted by FlyersFan
Something that Obama didn't seem to understand during the primaries.

No, he understands it.

It's just that he and his liberal buddies believe that they only get tax breaks because the evil Republicans just want to help their "rich friends."

Absolutely.

These are scary times, and things will only get worse once Obama and his super majority get moving next year.

8000 was the saftey level. It is anyones guess now how bad it will get but it will get very bad. We will be in a state of collapse soon.

This is genuinely awful news, it doesn't seem like the markets will ever correct themselves without completely hitting rock bottom. Maybe as low as 6,000-7,000.



We had better all enjoy this Christmas as best we can because I have a pressing feeling that this new year is going to bring about economic hardship the likes of which none of us have ever been alive to witness.


Good to see Bush is still an optimist though.

In the last year or so we have come to realize that houses and just about everything else were overinflated. Isn't it possible that the stock market was also overinflated? Couldn't it be possible that the stock market is falling to represent its true value?

Just a thought.

Originally posted by nyk537
Absolutely.

These are scary times, and things will only get worse once Obama and his super majority get moving next year.

You do realize that this has to happen in order to wake people the hell up as to who is really behind ALL of the country’s problems, don't you?

We need to get as many republicans out of office as possible and as many far left nut jobs into office as possible just to prove who has been causing all the problems in the country for the past 40 years. If that happens, the country will experience a level of destruction that it has never been seen before and people will finally see the left for what it really is. It will mean the complete and total destruction of liberalism in the U.S. and hopefully Pennsylvania avenue will be lined with posts with liberal politicians swinging from their necks.

So, I do agree with you that scary times are indeed ahead but only because the American people (about 50% of them) are to stupid or uninformed to make a logical and intelligent decision on election day instead of letting the left wing media spoon feed them what they want them to know.

In the short term things will be bad but think of the long term goal of completely destroying left wing-ism in America. It has to happen!

6,400 is latest prediction for the bottom.

The Dow has lost nearly 30% since the collapse of Lehman Brothers, probably not a wise investment (excuse the pun.)

If I am to lose my entire 401k, than why should I care what happens to GM? It's as if these news broadcasts are purposely done to manipulate the markets this way.



[edit on 19-11-2008 by aleon1018]

It's not over.... we're 1 year and half in... and we've not seen the worse yet.

It started in august 07...

And we won't see the bailout inflation effect in at least another 7-8 months.

What could be interesting is another rate cut at the next FED meeting or even before that!

Imagine that! They cut rates BEFORE the meeting to 0.5% then they cut them again just before christmas at their meeting to 0%.... so that the christmas sales are not that bad.

When we get the numbers in february of the christmas sales... we're gonna see the real impact and a lot of people will be bankrupt and lose their jobs.

Some analysts are saying that the banks will close in february and that the US government will be bankrupt this summer....

NASDAQ lost 7% and citigroup lost 22%!

We ain't see nothing yet.

[edit on 19-11-2008 by Vitchilo]

I'm amused to see that partisan politics are being used on this thread to explain the problem. Not that I like being one to state the obvious, but here goes: both Republicans and Democrats are responsible for this mess! These politicians have been in power for far to long, and they no longer serve the interest of the general public. They are bought and paid for, and they have collectively made the decisions that have gotten us in this current mess. Instead of focusing your anger at just one group of politicians, why don't you blame them all?

Strangely enough though, the average person doesn't see it like this. Instead they chose to defend one side and blame everything on the other side. Meanwhile, these politicians and the people that pay them are laughing all the way to the bank, because they know that as long as people continue to do this, they will always be in power. This thread alone proves just how absurd this bickering and finger pointing can get. It would be funny if it wasn't so sad.