Stocks slide as investors scramble for safety(DJI: -315.79 (2.51%))

FT ^ | 02/29/08 | Michael Mackenzie and Saskia Scholtes

[Travis McGee]

[Travis McGee]

That would be considered 'talking down the economy'. As long as folks have that attitude, I'll find a way to make a FORTUNE.

"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan... that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years." ~~R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929

[Travis McGee]

Yesterday? (Psssssst - I know where you can sell it for $500)

I bought it at 450, now it's at 974. I can sell it for 970.

What idiot would sell it for 500, as you suggest?

[Travis McGee]

My stuff is going up. Sounds like your stuff is going down. With your outlook, why would anyone invest at all? It just isn't worth it.

You are so full of it, LL.

"I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future." ~~E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928

"Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."~~Irving Fisher PhD, leading U.S. economist , New York Times, October 17, 1929

"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement."~~Harvard Economic Society, October 19, 1929

[rbg81]

I mean, the current borrowing rate of 3.0% is just so punitive. /sarc

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Not as punative as the next great wave of inflation will be. 2% loans that no one can get will do ZILCH if people’s costs are going up 20%+ per year (like my grocery bill has done). Its all about recharging the banks. They will get the 2% $$ from the FED, but still charge their customers 7%+. Sure, there will be 3% loans in theory, but almost none in practice.

[nicmarlo]

"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan... that any man who is bearish on America will go broke......~~R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929

A used car salesman, back in 1929, lol!!

[Freedom_Is_Not_Free]

You call it disgusting. I call it infuriating. Yes, they were lying intentionally in the hope that their lies would induce the sleeping sheeple to complacency. To get people to keep spending.

They are still lying. That is what is infuriating to me. Their will be pain for some economically and all the liars are doing is deferring the pain, which will make it more painful for a longer duration. Sickening.

[nicmarlo]

There will be pain for some economically and all the liars are doing is deferring the pain, which will make it more painful for a longer duration. Sickening.

I completely agree with your assessment/thoughts/opinions on this...it's unethical, immoral, and a depraved level of greed.