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Passage of 10/07/2008- The begining of the end

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posted on Oct, 7 2008 @ 06:25 PM
I thought things were kind of getting better and I was optimistic which is somewhat of a change for me but I believe these last two weeks will be remembered as the final blow... here is why!

1. Usually if you look over the last few weeks stocks went down only to recover almost all of the previous day's losses, since the beginning of October something different is happening! In the entire month of September about 800 points was lost, compare that to the beginning of October in which we have lost 1300 points. This loss is despite the governments bailout plan and all their other tinkering!
I think tomorrow we will have another at least 200 point drop in the dow. I think we are done rebounding for a good long while.

2. Usually like good sheep investors get all excited when the fed does something like the purchasing of short term loans by the fed this helped somewhat but the market never rebounded. This is BAD VERY VERY BAD it means the market has become recalcitrant to improvements there is nothing the fed is going to be able to do now no matter how much they try to improve the market. The spiraling collapse has begun! Even the dollar which was starting to make ground over the euro has plummeted!

3. Confidence, confidence, confidence... seem to me to be about as important to our financial market as location, location, location is in real estate! While confidence has been decreasing for a while the average Joe American was content to sit back and do what everyone has told him just hold on to your 401K and just wait by retirement you will be all set! Ride it out, right? Well not anymore! You now have financial experts telling people to pull at least some of their money out of their 401K. Many experts are now predicting the Dow to continue to drop, with 7,700 being a real possibility! Bernake hung us out to dry today with his comments he secured the fate of the market!

"There is this feeling that no matter what is done, it won't be enough, " said Darin Pope, chief investment officer at United Advisors of Secaucus, N.J.
The main problem I have with this is why have they waited so long? Why not have given warning when it maybe could have changed something?!? Seems to me we all have been lied to for sometime!

4. It has become increasingly obvious to me that the “bail out plan” has not done anything to help these banks many of whom since Monday have seen their stock plummet!
Bank of America is looking like it is going to completely fail as well, and what happens to Meryl Lynch when it does? It lost 27% of it value today
Wells Fargo- has lost nearly 10% of its value today
Citigroup- has lost nearly 13% of its value today

At what point does the FED fail? How can we continue to afford these losses?

5. Spill over into retail- The problems are like a dam failing, first a little trickle spills out then a little more and finally the entire dam breaks! Retail is going to be the next to fall! Holiday sales are going to be the worst in record, you can count on that! When you combine the possibility of credit is getting tighter, with consumers losing their jobs or working less with economic fear we are setting up a PERFECT storm scenario. The only thing we have going for us is a decrease in oil HOWEVER predictions are that heating costs are going to be significantly higher.

“Users of electricity to heat homes will see the smallest increase, about 10% on average, followed by propane, 11%; natural gas, which is used in more than half of the nation's homes, 18%; and heating oil, used widely in the Northeast, 23%.”

Retailers are not getting as many seasonal employees as well which is going to put a strain on an already strained job market!
This is combined with gasoline prices over 0.6 dollars a gallon more than last year at this time! When was the last time anyone went food shopping my food bill has nearly doubled in the last 12 months!

All of this means come January, I believe we will see MANY large retailers either closing stores or going out of business (sears and JC Penny are my tops picks to bite the bankruptcy bullet come January) which means more unemployment which I predict will spike in late December or January!

What is going to be the spill over point? When will our dam break? Will the change happen so slowly that most people won’t totally notice the changes until it is too late (we have always been at war with eurasia!)? Or will there be a flash point where everything spirals out of control very quickly? What are the next things we should be watching for? Has anyone noticed further change in military movements? What does the passage of today 10/07 mean, the predictions were wrong or could it mean we were expecting the wrong things and something significant but not completely extreme happened (like the failure of the markets to respond to further fed changes)?

posted on Oct, 7 2008 @ 06:47 PM
Don't forget the failing Iceland bank today.

At one point the European banks were free falling today.

This "is" the domino effect taking shape.

Star and a flag for you.

posted on Oct, 7 2008 @ 07:01 PM

Originally posted by kupoliveson
Bernake hung us out to dry today with his comments he secured the fate of the market!

Secured the fate or Sealed the fate? One was the intention and other the reality.

Hopefully one day the government will wake up and realise that corperate America needs the strict parent and not the "buddy" parent. Then maybe we can pull ourselves out of this one.

posted on Oct, 7 2008 @ 07:04 PM
I think the market is still trying to find the rock bottom dip.

Iceland is getting a $58 billion loan from Russia - so they're not going to completely collapse just yet.

I think a lot of it is being generated by panic and fear, and until that settles, it's going to keep snowballing.

posted on Oct, 7 2008 @ 07:05 PM
I agree. It's about to get really bad.

New World Order...North American Union...Here we come.

May God help us all.

posted on Oct, 7 2008 @ 08:55 PM
We are really screwed. The worst part is most people don't realize how bad this current situation is.

posted on Oct, 7 2008 @ 09:13 PM
Didn't the market rebound after news the original news that they WEREN'T going to pass the bail out or was I in the twilight zone?

Fact is market went up after news of no bail out then went back down FAST after the bail out.. hmm odd isn't it?

It seems to me that even investors are wising up to conspiracies that the government/fed is creating a market crash.

posted on Oct, 7 2008 @ 09:24 PM
One item overlooked in the downturn of the market is the "baby boomers" that will be getting out of the markets to drop the out of the "falling knife" markets.

76 million in the USA are "baby boomers", they are the wealthiest retirees ever. I know many that were planning on getting out of the market last week and are now panicing to get out of the market now for cash. This could pull trillions out of the world markets putting more nails in the coffin.

[edit on 7-10-2008 by LookingAround]

posted on Oct, 8 2008 @ 03:58 PM
10/08/2008 dow ended 189 points lower! Damn I am good!

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