Posted on 09/30/2008 10:57:23 AM PDT by AngieGal
With Monday's 777-point plunge, the U.S. markets surpassed several dubious milestones.
Perhaps most obviously, Monday marked the Dow industrials' worst-ever point drop, while the S&P 500 concurrently staged its deepest plunge in 21 years, going back to the 1987 market crash.
Yet despite the carnage -- and the appearance of market capitulation -- it's not at all clear that an absolute bottom is in place.
(Excerpt) Read more at marketwatch.com ...
It is not the recovery time I am worried about. It is the potential peril that can incubate in such a thing. That one effectively ended with WWII.
It’s up 465 right now. There was definitely a lot of bloodletting yesterday. But a lot of people are making a lot of money today.
Say, that reminds me, I just watched Casino last night. It’s really violent but what an incredible epic.
The trend is bad for the short term. Ten years from now you will wish you had more money to put into the market.
Call my a pollyanna, but I don’t think this piece of history will repeat itself.
Casino is one of the most incredible films of all time. The acting is outstanding and the plot is entirely feasible.
I don’t think it will repeat itself exactly. I do think there will be and, frankly, already are, parallels.
Can you post some specifics?
Equities have been and always should be considered a long-term investment. If you are buying equities for the short-term, you might as well go to a sports book in Vegas.
I love the way the naratives are done by various characters. It really puts you “inside”.
And VERY plausible.
I guess it won’t be today! All major indexes up almost 5% across the board.
If everything was so critical and yesterday marked the end of the world, how come we didn’t keep going down?
The gloom & doom we were getting should’ve had WAY more people running for the exits, but people were buying. Something VERY FISHY is going on!
I can give you a couple:
1. loose credit fueling stock bubble in ‘29. Loose credit fueling a housing bubble in 2006.
2. “Expert” polyanas saying, just before the crash, that everything is just fine.
3. Deflation.
If only it were that simple...
This is a casino, and all that it implies. Value is relative and temporary. We saw a mini crash followed by a surge yesterday right after it was anounced that the bailout had failed. In that short time a lot of blood was spilled and most of it sopped up to new winners. All in the span of less than half an hour.
The dynamics are easy to second-guess after the fact, but even then the motives for the moves can be completely miss-analyzed.
Are you implying that it will eventually lead to a major war?
I don’t remember who said this but I remember reading it somewhere, that a big stock mogul said he knew the market was over done and due for a crash when his shoeshine boy began giveing him stock tips...
Gloom despair and agony on me
Deep dark depression excessive misery
If it weren’t for bad luck I’d have no luck at all
Gloom despair and agony on me!
Not really. Rather, I am implying that it most certainly COULD lead to a major war. In fact, I think the odds would be better than 50%.
The reasons are myriad and subtle - but very real. Just as the depression coupled with the condition in which the Versailles treaty left Germany conspired with other contemporaneous events to lead to the mid-century war, political, economic and cultural events within which we currently live could similarly conspire to lead to a less than pleasant outcome in our time.
I very seriously doubt our leaders are not thinking about the same stuff. At least, if they are doing their job they are.
“Say, that reminds me, I just watched Casino last night. It’s really violent but what an incredible epic.”
Don’t believe I’ve had the pleasure of watching that movie.
The Sky is falling the Sky is falling the Sky is falling, pay no attention to the man behind the curtain
I’ve never seen so many Chicken Littles in my life as I have this past week. The threat of doom and gloom and that the world will come to an end unless the American taxpayer foots the bill to the tune of between 700 billion and 1 trillion dollars.
It’s blatantly ridiculous.
If the violence does not put you off (and you can handle the f-bomb a couple of times per minute) I HIGHLY recommend it.
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