OT - When does a recession become a depression?
- Thread starter Genetics
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serpentman
part time superhero
It will be curious to see if the market trend from this morning continues. There doesn't appear to be much confidence out there. However, at least it hasn't been a precipitous fall.
serpentman
part time superhero
The bailout bill just failed in the House. Now for the "now what" question.
serpentman
part time superhero
777.45 to be exact. Its still too early to tell if its a "gut" reaction of a sign of impeding doom. My guess is they will rewrite it and get something passed. I hope not. No matter how bad it gets, longer term we are better off in a capitalistic state vs socialist state.
Lets cross our fingers and see if "you know who" gets up and makes another of her partisan speeches prior to voting.
Lets cross our fingers and see if "you know who" gets up and makes another of her partisan speeches prior to voting.
Joke or not, that government is responsible for 300 million Americans!
Remember how the power grid was controlled by the government, or airlines? Deregulation is always the main goal in our society. Free market capitalism has allowed this country to prosper for generations and has always held strong against tough times. But in times like these, government intervention would help to ease the burden we all face. Looking out for the little guy is important for proper economic function. The problem is, to help the little guy we need to bailout wall street.
Hopefully, it will be a good thing. This proposal sounded much better than what was being proposed a week ago. As for living on credit, its a horrible idea but for some reason people believe the american dream is a 250+ home with a nice car. Talking to people in their older years, they remember how having a job and a family was the american dream....
If you think about how much credit we live on these days, its scary to think it could potentially not be there tomorrow.
The indicator was there for a bear market last year when the Dow was up 30% without reason.
ronc98
New member
I deleted my previous post I did not want to upset the mods.
I agree that the american dream has changed. I guess that is part of evolution.
Living on credit like many have been doing has ended I think. It is going to be interesting these next few years.
I started playing around with day trading a few years ago, watching the market has been interesting if not just scary. Home builders and Banks will make you a ton of money in the next ten years if you time it right and pick one that is still around. If you have the money and a good stomach you can set yourself up to make a ton of money when this recovers 10 years down the road.
I agree that the american dream has changed. I guess that is part of evolution.
Living on credit like many have been doing has ended I think. It is going to be interesting these next few years.
I started playing around with day trading a few years ago, watching the market has been interesting if not just scary. Home builders and Banks will make you a ton of money in the next ten years if you time it right and pick one that is still around. If you have the money and a good stomach you can set yourself up to make a ton of money when this recovers 10 years down the road.
Teddy Ballgame
New member
This is not "bailing out" billionaires on wall street. This is your and my neighbors and friends and ourselves buying houses they could not afford and now not being able to refinance them. (and yes, the banks are mostly to blame for offering credit to unworthy borrowers) Now, everyone from major retailers down to small business owners may not be able to run their businesses. It was amazing to hear politicians claiming they are looking out for Joe Sixpack....in the next few weeks we will see how wrong they were as people will not be able to make payroll or run their businesses. Then we won't have the tools to be Capitalistic either.....DEPRESSING! There is no way to tell America this can be bipartisan with the election 30 only days away.
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Aqua Keepers
New member
"The banks are mostly to blame for offering credit to unworthy borrowers."
I just don't buy it. That's like the fat kid blaming McDonald for serving super sized meals or a crack head blaming his dealer. These people all had to sign docs that disclosed all the details of there loans. They took a gamble as to weather or not they would be able to refi down the line.
I just don't buy it. That's like the fat kid blaming McDonald for serving super sized meals or a crack head blaming his dealer. These people all had to sign docs that disclosed all the details of there loans. They took a gamble as to weather or not they would be able to refi down the line.
Asia markets already down 6%, you wait for UK and US markets to open down again tomorrow.
I agree that this looks like a bailout of wall street, but until we get rid of all those bad loans on banks books, no back will loan another serious money, if they think the lender could go bankrupt.
I predict another bank goes under later this week, banks and businesses that were hanging on by their fingertips are going to go under in the next week, push down by the frantic selling of stocks that will happen until at least Thursday when The House meets again.
Glad I work for one of the bigger banks, I'm not one that gets the big bonuses, so don't blame me :/
I agree that this looks like a bailout of wall street, but until we get rid of all those bad loans on banks books, no back will loan another serious money, if they think the lender could go bankrupt.
I predict another bank goes under later this week, banks and businesses that were hanging on by their fingertips are going to go under in the next week, push down by the frantic selling of stocks that will happen until at least Thursday when The House meets again.
Glad I work for one of the bigger banks, I'm not one that gets the big bonuses, so don't blame me :/
