Dow tumbles 512 points!
NASDAQ loses and even greater percentage.
Bring it on! Stop the fatalistic insanity, and let it go down down down and down!
Once bubbles form, eventually they will burst. So refusing to feed them and letting them deflate is the only sensible course of action.
What they don't tell us is how many speculators jumped out of high rise windows. I want to know.
just pray, don't change your habits
just spend, pray and spend more...
the religious exclusion grows as the stocks dump... simple as that.
I'm just guessing there though.
Very well put. Most of the time, its the big players making money and the little people losing. I tried so very very hard to convince my ex-wife of these.
I tried to get her to stop! I explained to her that the basic rule is buy low sell high. But if someone is just watching what everyone else is doing, buying what other people gossip about, and then selling when it don't look so good anymore, then they are doing the opposite.
She would read online analyises and then beleive that she was a savy investor, and buy in, and start making trades. She even borrowed money to do this!
I tried to explain to her, what you read in those analyises is already reflected in the current price. Its like listening to the weather prediction on the 11pm news, and then finding some book makers to let you bet. The odds are based on the same information you have.
I tried to convince her that especially the way she was doing it, it was just gambling to get an emotional high.
Its a big big part of the reason why she is an ex-wife. See, every year I had to report all the transactions to the IRS. Of course I only saw what she sold. Lots of stuff she didn't sell, because it cratered. She was still holding on to it thinking it would come back, and because she didn't want to admit how much money she lost.
I would be up late at night trying to get the tax return completed, while she slept. The whole thing bothered me greatly. It was part of a whole pattern of activity which beyond a point I could not tolerate. It really disturbed me, and made me reconsider what a life with her would be like.
I used to tell people that her infidelities were not sexual. That she would never do, because she wanted to make herself right, to be able to argue that she was the good one.
Her infidelities came in her idolatrous relationship with money. It blinds one to any sort of rationality. Really, its just fatalism.
Look on the bright side, the rating is AA+...that's gotta count for SOMETHING. (groan)
Check out all the blame being put on President O in this response by the GOP presidential candidates: http://caucuses.desmoinesregister.com/2011/08/05/bachmann-decries-c...
In Ms Bachmann's response, she reveals her knowledge about the home construction business with her comment: "President Obama is destroying the foundation of the U.S. economy one beam at a time." Gotta love her firm grasp of the root of the problem. ha
I think she had debt 'ceiling' on her brain but got it confused with the debt 'plumbing'.
Isn't this a case of the snake eating its own tail?
S & P is known for over-rating securities in the housing market and look where THAT got us.
I agree that reasonable people shouldn't be affected by what an agency with this sort of dodgy reputation has to say...but the economic markets are so spooked and jittery that this is just one more indication that emotions will affect tomorrow's stock and bond market conditions. We are in for a very bumpy ride. Across the globe. And tea partiers can be quoted as saying "Bring It ON"...I hope their supporters will recall this come re-election time. They were willing to take us to the very edge...and here we are, teetering.
Risk is part of the equation and, like an article I read in my Sunday paper this morning is quoted as saying: "Where else are you going to put your money? We're growing anemically. We've got a debt problem. But at least we're bobbing along. We're best looking of the ugly kids at the prom."