things just keep going down the tubes.

[DOGS THAT BARK]

Just don't think economies is cause yet Smurph-
Granted I cetainly am no wiz on economics-but fact of the matter--most countries objectives this past year has been trying to cool down cooking economies on fear of inflation. China has raised interest rates 4 times in effort.
I would disagree that this is hurting lower income as much as others--their spending power is generally cut back on rise in inflation or CPI areas (gas and food) as Chad allued to.

I think the middle class working guy with 401k's are getting worst of it by not having flexabilty to make adjustments in timely order.

I still believe pres or admin have little to do with economy--and hope they never do--but is interesting to see what they do on short term fixes on probs that arise--as I said I'm no econ whiz but I am just a little leary of gov messing with money supply to fix probs--would appear to me to be similiar to ponzi sceme--but it held wolves at bay for today anyway--so who am I to judge.

As a trader a never ending battle to keep fear and greed in perspective and days like today are ultimate test.

 

[smurphy]

Dogs, I agree about the dangers of messing with money supply. Both sides have been guilty to appease their support - whether that be individual or corporate handouts.

Weasel - You really need to update yourself on the modern world. Your pride is keeping you from seeing the big picture. We have been the largest economy for a very long time - and yes- we still currently are. But the gap between nations and unions gets tighter all the time. We rely on others just about as much as them on us now. If China were to suddenly stop exporting, for example, we would be in a state of immediate economic chaos.

 

[DOGS THAT BARK]

total ecomomic chaos would be if China sold their huge position of U.S. $

Fortunately Smurph- countries especially the power houses are quite similiar to this political forum-
There are a few renegades--but for practical purposes--we all rattle our sabres--but when faced with real adversity-we understand we are all in this together.

 

[Jabberwocky]

no...we`re the hub...we have the buying power...

GW, we are the crack whore to the world. We consume. We used to produce. We are nearly 10 trillion in debt and our assets are increasingly being controlled by foreign interests. I will start another thread on this one. Pride before the fall. If you are not concerned with our trade imbalances and outrageous debt I have to assume that you really don't know much about economics. Do you live on a fixed income?

 

[Jabberwocky]

total ecomomic chaos would be if China sold their huge position of U.S. $

Wayne, I know they won't do this over night, and that there is mutual dependence. But I am very uncomfortable with the current dynamic of China and others holding us up and financing our debt so that we can continue to buy their products. It is not sustainable, and it is not the formula that made the US a success.

 

[gardenweasel]

GW, we are the crack whore to the world. We consume. We used to produce. We are nearly 10 trillion in debt and our assets are increasingly being controlled by foreign interests. I will start another thread on this one. Pride before the fall. If you are not concerned with our trade imbalances and outrageous debt I have to assume that you really don't know much about economics. Do you live on a fixed income?

what are you talkin` about?....all i said was that if our economy goes under,the rest of the world will suffer even more.....you can`t say that about many other economies...

 

[Jabberwocky]

GW (and others), I hope you take the time to read this article, and the Buffet Spendville vs Thriftville source. I have posted it before, but I really think it is a telling analogy.

http://financialsight.blogspot.com/2008/01/warren-buffets-analogy-of-squanderville.html

 

[gardenweasel]

Do you live on a fixed income?

:mj03: :SIB ouch!....

bro...read the judge`s fresh thread in the general section....it points out the far reaching implications of our economic stability world wide...

that was the width and bredth of my comment...nothing more...:shrug:

 

[smurphy]

GW, we are the crack whore to the world. We consume. We used to produce. We are nearly 10 trillion in debt and our assets are increasingly being controlled by foreign interests. I will start another thread on this one. Pride before the fall. If you are not concerned with our trade imbalances and outrageous debt I have to assume that you really don't know much about economics. Do you live on a fixed income?

We are kind of like one giant Paris Hilton, living off the fat of the land and the work of peasants.

 

[Jabberwocky]

:mj03: :SIB ouch!....

bro...read the judge`s fresh thread in the general section....it points out the far reaching implications of our economic stability world wide...

that was the width and bredth of my comment...nothing more...:shrug:

gw I will, if you promise to read the link I posted. I was honestly not trying to be an ass, you just seem a little too complacent about what is happening to us economically.

 

[Jabberwocky]

We are kind of like one giant Paris Hilton, living off the fat of the land and the work of peasants.

I think the analogy holds true in that I see us living off the hard work and ingenuity of the generations that came before us. Now it is becoming more and more a debter nation of lazy incompetents. The analogy holds true for Paris, George Bush, and the US in general. Pride before the fall.

 

[gardenweasel]

gw I will, if you promise to read the link I posted. I was honestly not trying to be an ass, you just seem a little too complacent about what is happening to us economically.

i don`t think it`s actually happened yet,wocky...we may still go into full blown recession...but not yet...this wasn`t it...this isn`t as bad as the savings and loan debacle... i`m reading that the market needs to go down to 10,800 and that would constitute a normal correction...


but it doesn`t need to happen all in one day....lol

i`m not slitting my wrists just yet....even though i`m more of a cd,ira,money mkt kinda guy....

i`m conservative..slow and steady....but,you knew that...

 

[djv]

The thing I worry about at times. Have to many folks who lived through the great depression died off. So we can be reminded by them not to let so many folks live so fast with there money. And in away the same thought about our government letting to many other countries have a huge wedge over us by owning to much of us.

 

[DOGS THAT BARK]

i don`t think it`s actually happened yet,wocky...we may still go into full blown recession...but not yet...this wasn`t it...this isn`t as bad as the savings and loan debacle... i`m reading that the market needs to go down to 10,800 and that would constitute a normal correction...


but it doesn`t need to happen all in one day....lol

i`m not slitting my wrists just yet....even though i`m more of a cd,ira,money mkt kinda guy....

i`m conservative..slow and steady....but,you knew that...

Good comparison Weasy
Tp put things in perspective-
-- cost about 2.4% of GDP to bail out the S&L debacle--and we are just approaching 1% on subprime.

another thing--is you have to weigh drops in market by % of market--a 200 point drop in 90's was significant--today it's just a bad hair day.

 

[DOGS THAT BARK]

Isn't human nature funny--especially in political threads.

Market down 300 pointss and all hell breaks loose--up 300 and you don't hear a peep.

--

 

[Chadman]

I think a somewhat worrisome difference between the S&L bailout (remember who's brother was fully immersed in the cause of that one?) and the current bailout is that foreign interests are actually buying up huge chunks of American banking interests. Not only are they holding much of our debt, they are actually buying up parts of the holders of American citizen monies. I don't like either edge of that sword.

I'll chime in and say I'm very glad the market bounced back. I also think Wease is correct that there certainly should be a pull back in the current levels of the market. These numbers have not made sense to me in many ways the past couple of years. The bad part of the market recovery is that the fed had to act in emergency fashion and slash the interest rates before the markets opened on Tuesday, just to keep things from rocketing down here, like abroad. Keep slashing those rates, and the dollar will stay low, allowing even more foreign interest and purchase of American assets.

A lot of bad things converging these days. Saw today where the national debt has gone much higher again this year, to the tune of $250 billion more, after the "great turnaround" you were singing about the past couple of years, where we only lost ground about half that fast. Only true spinsters can take positive credit for our national debt going UP less than $200 billion, tho...

 

[Chadman]

And the next time I see a conservative squawking about how much tax they pay, and then say the national debt doesn't matter, I'd like them to pay for my 1/3 of every tax dollar going to pay for the national debt payments each year. It does matter, and that's where I'd like to see some responsibility come in from current conservative supporters.

 

[SixFive]

what, jack, did spytheweb take the day off or something? Thanks for the doom and gloom!

 

[djv]

I will get warmed up after 4 more days like this. One does not get it done. On Gas prices how many have had there's go down like it should have. Oil down 10 bucks and spot price for gas down. But yet my station drops a drip of 4 cents. Chit they ran it up everday the dam oil went up a buck. Keep screwing us.

 

[ImFeklhr]

It's officially a global economy.

It's so true... When I dropped $400 on a craps table in Vegas a 15 year old Chinese girl lost her job.

No man is an island.