stock market seriously in the shitter

[jokenfu]

there's about 4 or 5 bankers who left well fargo and B 0f A to work for Blueshield in the past 3months. I guess they know certain banks might go down, that it was time to make a move.

 

[Akiahara96]

^^
that's so scary. apparently washington mutual's next?

 

[dabz1981]

SELL SELL SELL!!!

haha jk

 

[Akiahara96]

wamu just announced that they're going up for auction, i guess.

 

[cheezeonmakneez]

This is some crazy s**t. I work in the construction field and there are numerous big named companies going belly up. At this rate by 2009 the unemployement level will be even more off the chart.


As for the government forking over my tax dollars to save banks that sold bullshit loans. That just burns me.

 

[Shiznit]

it cant be helped, if AIG goes up there will be major problems

 

[Chris.]

see i know nothing about the entire trading thing. i just know that when the market is down its bad news for the economy.

this is just serious news whats been going on these past few days.

i would like to get into it.. but need someone to show me what to look for and what to do. im not talking about alot of money to start.. but what should i do to start or even what should i have to start with? i know there are no guaruntees....and i know i could theoretically make alot of money if im smart. a little explaination in normal terms would be nice... anyone?

 

[Astheros]

this is not ending soon. now the treasury is selling bonds to make up money for the federal reserve just in case it needs to bail out more banks. the fed went from about 800 billion in emergency money to 200 billion. assuming 2-3 more banks fail...s**t is going to hit the fans and if 4 banks fail....from that pt forward u can bet there will be no bailouts since there will be no money at the federal reserve. they will have to print more (if they want bailouts) which will cause inflation and essentially the worth of the american economy will be at its lowest pt in history. if they choose not to print more.....any bank that has lost money due to the housing securities crisis will be forced to declared bankruptcy unless it can find another bank to buy it. bankruptcy will lead to jobs lost, people with no pay results in even more defaulting loans which leads to more banks loosing money. this s**t aint looking good if any more banks declare bankruptcy or need bail out money.

btw: if citibank acquires washington mutual....i believe their shares will fall a bit more because they will be acquiring a risk especially in these times. i would prob buy after they acquire them if they do.

morgan stanly isnt looking too hot right now either as they lost 24% of value recently and are now looking to merge.

 

[Astheros]

for those of you that want to understand how this s**t happened.
http://finance.yahoo.com/banking-budgeting/article/105782/How-We-Got-Here-It-Is-Housing-Stupid

also...for those of you looking to invest with little money....you shouldnt wait for crisis's to invest...times like these are really only helpful to investors with large amounts of money. small investments of a couple hundred dollars here and there will net you very little gains. if you are small investor then you should be investing all the time. dollar cost averaging will ultimately get you good results because the low and high prices will average themselves out over the long run.

trying to put 500 bucks into stocks right now shouldn't be getting you excited...i mean its a step in the right directions but don't expect those 500 bucks to turn into a thousand anytime soon...let alone millions.


a good investment right now would be to buy and hold. people right now are renting and not buying. you can acquire houses for cheap since people are defaulting on their loans left and right. as long as the rent you charge breaks even with the expenses of the property you should be able to hold out just fine until prices begin to come back up. however, even though this is a good investment right now....it will be better by beginning of next year as home prices are still going to drop since their values have not yet leveraged out and are still overpriced due to the ballooning of the last decade. considering that banks are now making loans harder and harder to get. more people will not be able to refinance in order to get money out of their equity to get them out of bad situations so more foreclosures and the like is what i see coming.

 

[Astheros]

see i know nothing about the entire trading thing. i just know that when the market is down its bad news for the economy.

this is just serious news whats been going on these past few days.

i would like to get into it.. but need someone to show me what to look for and what to do. im not talking about alot of money to start.. but what should i do to start or even what should i have to start with? i know there are no guaruntees....and i know i could theoretically make alot of money if im smart. a little explaination in normal terms would be nice... anyone?

indexes are a good place to start. mutual funds as well. equities require a lot of time and research to actually do well. indexes are like mutual funds in that they include numerous investments. for example there is a s&p index which is managed as to mimic the s&P 500. so think of it as investing in one option that mirrors the big picture.

ive also heard some good things about spyder investments but i think those require a bit of research and such.
all i use is my 401k cause i simply dont have money to really make any difference investing in stocks. and because i am young almost all my investments are in high risk international options since at this age i can afford to loose my savings.

 

[Chris.]

i know how it happened.

but just dont know what to do to get into the market. i do know that the best time to buy is prolly when the market bottoms out. or atleast looks like it has. one company i was watching was quebecor. it was the 2nd largest printer in the world. thier shares were trading at 40ish dollars. then... bankruptcy. we all seen it coming in the printing world. thier shares are trading at .06 now. i know better not to buy any from them even though they are cheap. i know the state of the company and i know what they have been doing for the past 5 years or so... i know the condition of thier equipment also...and the reasoning it looks the way it is. 4 years ago they froze all assets in the pension plan... thousands of employees walked out that very day. it was just a matter of time after that they would file bankruptcy.

 

[cheezeonmakneez]

it cant be helped, if AIG goes up there will be major problems

I understand that, but to know that these banks sold these loans with their eyes and ears closed, just bothers me.

 

[$lick Rick]

Government information will show you that since President Lyndon Johnson, all the Democratic administrations have had revenue grow more than expenditures. The Republican administrations all have had expenditures grow more than revenues.

Based on that little bit of consistancy, if McCain and "lipstick pig" win, where will we be in 4 years?

i dont know...

but it supports the theory that if obama wins, we'll be taxed into socialism

democrats love to tax, republicans love to spend
it's a mutually inclusive system. without one, both would fail

 

[Tom]

To make things sound worst, incase no one else has heard, Russia has completely shut down their stock trading, due to the fact that they have gone down 60% just since may, talk about lossing a s**t load of economic money in trading, so far they have not said for how long.

 

[toplevelej]

i dont know about you guys but here on long island things are really getting bad..

business are cut in half.. dealerships are going outta business not lookn good

 

[Tom]

i dont know about you guys but here on long island things are really getting bad..

business are cut in half.. dealerships are going outta business not lookn good

i bet the only dealers doing money profit is honda, well alteast in my dealer group we are, both of our chevy stores are hurting, aswell as our one ford store, bimmer not getting by to swell, and our acura/ subaru store is still turning a profit, but our nissan store is right behind us, and we have not had a bad month yet, last month was a little less then 90k profit jsut for parts, now the month before we posted a all time high in the dealer group at 107k profit, none of our store have done that good, and few ever come close to getting near what we do, Go HONDA.

 

[toplevelej]

yea honda by me is doing average but not great..

alot of fast food places are hurting.. as well bars are ghost zones

 

[Tom]

alot of fast food places are hurting.. as well bars are ghost zones

that's cause no one can afford to drive to those place's, after all it truly was the cost of rising fuel that made all this happen, no joke, since people now have to cut their budget in order to be able to get around, it effects of everywhere else, such as the mortgage s**t where no one can afford these mortgage's that they were lead to believe they could, which is actually a dumb move on their part from the begining of signing those papers, dumbass's.

 

[cheezeonmakneez]

I couldnt agree more. My truck has been parked for over 2 months, which forces me to drive my semi slammed teg on these s**t roads. Not to mention the vacation I had to cancel because I'm not shelling out another 400 in gas.

Maybe we can borrow another few billion from china to stimulate the economy?

 

[Tom]

Vacation, hell as far as i went for mine at the beginning of this month was my couch, and i think i make decent money, and i still couldn't go anywhere, lol, damn shame.