Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Marketwatch) NewsFlash Falling below 8,000. The Dow Jones or Kirstie Alley?   (marketwatch.com ) divider line
    More: NewsFlash  
•       •       •

12596 clicks; posted to Main » on 13 Nov 2008 at 1:16 PM (7 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»


Want to get NewsFlash notifications in email?

561 Comments     (+0 »)
 


Oldest | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | » | Newest | Show all

 
2008-11-13 02:46:09 PM  

molsonandlee: Why would the mods green light a Dow Jones number in the middle of the trading day? You kids aren't clear how this thing works... are you?


Welcome to Fark. I've seen greens about the market before trading opens.

One day there was a green about a market collapse and the dow was up well over 500 points.

I'd wager that the number of complete morons on the business tab rivals that of the complete morons on the Politics tab. The only difference is that everyone on the Business tab presents their arguments as fact.
 
2008-11-13 02:46:21 PM  

molsonandlee: Why would the mods green light a Dow Jones number in the middle of the trading day? You kids aren't clear how this thing works... are you?


Are you saying we are seeing a Fark Bounce in the market this afternoon?

The SEC should talk to the Mods about this.
 
2008-11-13 02:47:07 PM  

tweekster: lefande: Here it is again for those of you that just don't get it.

Can you explain the 1500 point drop before anything Obama occurred?


He was alive wasn't he? Breathing in, breathing out, eating, taking a dump. When a commie takes a dump, the markets fail.
 
2008-11-13 02:47:10 PM  

thatguyfred: Thanks for being a prime example of stupidity.


Yep, I am stupid. From the low point today it has gone up at least 6.9%.

Now who looks stupid?
 
2008-11-13 02:47:54 PM  

lefande: Are you saying we are seeing a Fark Bounce in the market this afternoon?


Behold the power of FARK.
 
2008-11-13 02:48:07 PM  

Ima10urin8: adamgreeney
. Try living in the real world with the rest of us.

you my friend are dangerous

I must be wrong here then. So McCain and the republicans didnt try to institute regulation in the mortgage arena? Which was shot down by Democrats?


BOTH parties caused this. i didnt realize Bush single handedly cause the banks to make loans to unqualified borrowers.


I always thought the Democrats sued the banks because they didnt make the faulty loans....


Shame on me


i dont give a shiat who won the election....im glad Obama won actually, itll give the left time to get over 2000.....finally

But you Obamaniacs cant see past your fkn noses.



Explain to me how it was shot down by the Democrats.

Difficulty: It wasn't. The bill in question made it out of conference and was recommended to be brought to the floor for a vote. It never was. This happened in... the 109th REPUBLICAN Congress. Source (new window)

I'm all for holding both parties accountable. You, however, are not doing so.


/Thanks for playing
 
2008-11-13 02:48:30 PM  

andrewabc: Now who looks stupid?


Carrot Top.
 
2008-11-13 02:48:37 PM  

rp.: Bastard_Lunatic: I'm going to use a word that you obviously won't understand.

IRONY

Don't even try, I have a degreein political science AND English, so I know what I'm talking about.


Mail order or online degrees?
 
2008-11-13 02:49:59 PM  

Ima10urin8: adamgreeney
. Try living in the real world with the rest of us.

you my friend are dangerous

I must be wrong here then. So McCain and the republicans didnt try to institute regulation in the mortgage arena? Which was shot down by Democrats?


BOTH parties caused this. i didnt realize Bush single handedly cause the banks to make loans to unqualified borrowers.


I always thought the Democrats sued the banks because they didnt make the faulty loans....


Shame on me


i dont give a shiat who won the election....im glad Obama won actually, itll give the left time to get over 2000.....finally

But you Obamaniacs cant see past your fkn noses.


The fact that you think that bad mortgages are the issue here shows how little you understand the problem at hand.

Look up the graham-leach-bliley act, then look up Credit Default Swaps and how they caused the current crisis, and then come back and try to blame it on mortgages to poor folk.

If the regulations regarding the Credit Default market hadn't been destroyed, we would not have the situation we have now. It's pretty simple really.
 
2008-11-13 02:50:31 PM  

Thunderpipes:

Well, Obama will increase taxes paid by 10% for any mid sized or larger business. If you owned a company like that, or were invested in one, would you not be worried? Its all well and good for obscenely rich people like Warren Buffet and that moveon.org guy to praise Obama, the real leaders of business cannot afford to do so. It is no coincidence filthy rich people lean left, they have so much money they can afford to preach, working Americans cannot.


And do the math before you say "Obama won't raise taxes by 10%!"


Good financial analysis doesn't generally include "zomg soros!!"
 
2008-11-13 02:51:55 PM  
the world is changing. expect thing to happen that dont involve rainbows and unicorns.
what a bunch of Babies!
 
2008-11-13 02:52:32 PM  

rp.: Bastard_Lunatic: I'm going to use a word that you obviously won't understand.

IRONY

Don't even try, I have a degreein political science AND English, so I know what I'm talking about.


What about typing?
 
2008-11-13 02:52:38 PM  
foxes.files.wordpress.com

/Obama's fault, obviously
 
2008-11-13 02:53:23 PM  
lefande: 3. No. You are making rational assumptions premised upon the existence of free markets. B. Hussein Obama is going to outlaw profits and capitalism to the point that it doesn't matter what the demand is, no one will enter the market since they can't keep the fruits of their own labor.

Countries like Denmark and Sweden are orders of magnitude more socialist than the US will ever be, and you'd be a fool to ignore those markets, even though the average tax rate is something like 60%. Swedes and Danes and most of the rest of Western Europe has a higher standard of living than the US, despite their high tax rates.

So your argument that Obama's going to somehow turn us into North Korea by raising taxes to the same levels as Ronald Reagan, and lowering taxes on the middle class, is ridiculous.

There is plenty of pent-up consumer demand in Cuba, North Korea and Myanmar. That doesn't mean it makes sense to enter those markets.

Well, people aren't *allowed* to enter those markets. If that's your only idea of a socialist country, you need to widen your perspective. Germany is a fairly socialist country and an economic powerhouse, despite regulations that *gasp* give people universal health care and pay for a significant portion of their education.

4. Absolutely. If people die from hazardous products, other people will less likely buy them. The price point will correct itself until the products are cheap enough for homeless people and then we fix the homeless problem too!

So we shouldn't try to *prevent* those deaths with any government regulation? Wouldn't that be even better for the economy?
 
2008-11-13 02:53:24 PM  

adamgreeney: Look up the graham-leach-bliley act, then look up Credit Default Swaps and how they caused the current crisis, and then come back and try to blame it on mortgages to poor folk.


Who would have thought that stripping rules designed to keep us out of a Great Depression would create *drumroll* another Great Depression? Unreal.
 
2008-11-13 02:54:03 PM  
Thanks Milton Friedman!
 
2008-11-13 02:55:10 PM  

Shyran: ihatedumbpeople: It's a shame the first half-white president is going to inherit a crappy economy. If we drop into a depression, everyone will act like he had control over it even though this ball started rolling quiet a while ago.

Then again, if it improves he'll be hailed as our savior.

If it improves the freepers will attempt to point out that it's because policy changes take time to work and we'd finally be seeing the effect of Bush's.


I hope no one is that dumb.
 
2008-11-13 02:57:27 PM  
i247.photobucket.com
 
2008-11-13 02:58:14 PM  
Farking sweet!

George Bush is in office for 9 months and the right wingers say he's not even partially responsible for the events of 9/11.

Obama hasn't even been sworn in yet and he's the one that has tanked the economy.

That's some twisted logic and double standards for you, you moran neo-con's
 
2008-11-13 02:58:16 PM  

jake3988: 8,477.63 Change:+194.97 +2.35%


Obama saved us again!!!
 
2008-11-13 02:58:17 PM  

The Icelander: Germany is a fairly socialist country and an economic powerhouse, despite regulations that *gasp* give people universal health care and pay for a significant portion of their education.


Even 19th Century robber barons did that. It was an investment in human capital. But market forces, not bureaucrats, dictated the investment and therefore, were inherently more efficient.

So we shouldn't try to *prevent* those deaths with any government regulation? Wouldn't that be even better for the economy?

Same thing, really. What is the better investment? Some regulation is a good thing. I said I was kidding. Sort of.
 
2008-11-13 02:58:23 PM  
adamgreeney


you are way out of touch, this goes back to 1977


look up The Community Reinvestment Act
 
2008-11-13 02:59:33 PM  

Necktie Asphyxia: Who is more stupider? The Troll or the Trolled?


... wow

10/10
Bravo, good sir
 
2008-11-13 02:59:43 PM  

lefande: Even 19th Century robber barons did that. It was an investment in human capital. But market forces, not bureaucrats, dictated the investment and therefore, were inherently more efficient.


You mean the robber barons that would fire a 5 year old if they lost a toe?
 
2008-11-13 02:59:48 PM  
The universe could give a flying fark
about the insignificant numbers
that wealthy folks worship
the teat is running dry
hunt gather
or find a new mother.
this nest is soiled.
 
2008-11-13 02:59:57 PM  
i35.tinypic.com
 
2008-11-13 03:00:46 PM  

Somacandra: Tyee: A lot of my friends and my spouse work in Wall Street markets. Lets just say a lot of optimism died 11/4..I'm am saying many people on Wall street are deeply concerned about the next administration, and they would be less concerned if McCain had won.

I call SHENANIGANS (new window).


It doesn't matter what the people on Wall Street think. The guys that own large amount of stock have been told by the President-elect that he is at war with them and wants to punish their success. What you are seeing is what's left of the capital gains getting pulled out before Obama begins ruling (new window).
 
2008-11-13 03:02:01 PM  
Shakes fist at jaymzz
 
2008-11-13 03:02:13 PM  
www.jir.com
 
2008-11-13 03:02:52 PM  

lefande: molsonandlee: Why would the mods green light a Dow Jones number in the middle of the trading day? You kids aren't clear how this thing works... are you?

Are you saying we are seeing a Fark Bounce in the market this afternoon?

The SEC should talk to the Mods about this.


What does the South Eastern Conference have to do with this?

And personally I think the Big Ten is the conference of choice!
 
2008-11-13 03:02:59 PM  
ihosedyourgoat.com
It is an investment in human capital...
 
2008-11-13 03:03:29 PM  
She's one of the ones that can pull of being a fatty halfway decently.
 
2008-11-13 03:03:48 PM  
molsonandlee
Why would the mods green light a Dow Jones number in the middle of the trading day? You kids aren't clear how this thing works... are you?


THIS
 
2008-11-13 03:04:45 PM  
Call me when it hits 5,000...
 
rp.
2008-11-13 03:06:35 PM  

Bastard_Lunatic: rp.: Bastard_Lunatic: I'm going to use a word that you obviously won't understand.

IRONY

Don't even try, I have a degreein political science AND English, so I know what I'm talking about.

Mail order or online degrees?


If you're so smart, tell me how many layers of irony are really in play here.
 
2008-11-13 03:07:33 PM  
I think we need to call for the summary execution of any individual who attempts to "read the market" and doesn't have (at the very least) a bachelors in economics. Start with the folks on the news channels and work your way down to Farkers.

lefande? Thunderpipes? Thoughts?
 
2008-11-13 03:08:00 PM  

RaoulDuke: Call me when it hits 5,000...


Make that 2,000, I am bored with the economy, lets talk about something new, we have been talking about this forever. Like Dogs vs. Cats! Now that is something to sink your teeth into.
 
2008-11-13 03:08:40 PM  
Man I would anal-ize the shiat out of Kirstie Alley. I bet she's a total freak, too.
 
2008-11-13 03:09:05 PM  
If printing money works so well why doesn't the government just print a bunch of money and give it to every company that publicly trades stock? Luckily we elected a president that will continue to throw money at the problem. Bush = Obama
 
2008-11-13 03:09:17 PM  
I have the perfect solution for our economy. Raise the prices on video games by 25%. Get Blizzard to raise the monthly fee for WoW by 10% and this whole mess would be over. WoW is like crack to some people. They'll keep paying to get their daily heroic fixes.
Once the video game sales ebb, start taxing the fark out of bicycles and footballs. Then switch back to the video games after the bike sales ebb.

/I'm a bastard
//But I'm right...to some degree
 
2008-11-13 03:09:34 PM  
elrond: I grew up in the 70's. Things were MUCH, MUCH worse.
Inflation AND Unemployment AND high gas prices.


At least then passbook rates provided at least a little reward for doing the 'right' thing and saving money. Granted, the reward was that inflation only nicked you instead of killing you, but at least it you could get SOME return just for keeping your cash safe.
 
2008-11-13 03:11:20 PM  

Farkwaddle: I have the perfect solution for our economy. Raise the prices on video games by 25%. Get Blizzard to raise the monthly fee for WoW by 10% and this whole mess would be over. WoW is like crack to some people. They'll keep paying to get their daily heroic fixes.
Once the video game sales ebb, start taxing the fark out of bicycles and footballs. Then switch back to the video games after the bike sales ebb.

/I'm a bastard
//But I'm right...to some degree


Careful, an internet sales tax in various forms has been called for numerous times over the years. Don't give any more incentive to push for such a thing...
 
2008-11-13 03:11:28 PM  
adamgreeney
Look up the graham-leach-bliley act..

Thank you for mentioning that. People rarely discuss Phil Gramms brain child. During the race, McCain had reportedly hinted that Gramm might serve as his Treasury secretary--the mere thought of that made me shiat bricks. I'm not sure what the hell McCain was thinking at that point
 
2008-11-13 03:12:07 PM  
mainstreet62: See AIG, the US Government made loans to them with comparatively Draconian terms.

And pretty much reversed or eliminated all of those terms a couple days ago.
 
2008-11-13 03:12:46 PM  
Fellow Business Executives:

As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barrack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.

To compensate for these increases, I figure that the Clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees right now due to the dismal state of our economy, we will have to lay off six of our employees instead. This has really been eating at me for a while, as we believe we are family here and I didn't know how to choose who will have to go.

So, this is what I did. I strolled thru our parking lot and found 6 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem. These folks wanted change; I gave it to them.
 
2008-11-13 03:13:13 PM  

elrond: But I grew up in the 70's. Things were MUCH, MUCH worse.
Inflation AND Unemployment AND high gas prices. disco


ftfy
 
2008-11-13 03:15:01 PM  

Ima10urin8: I strolled thru our parking lot and found 6 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem. These folks wanted change; I gave it to them.


enjoy your lawsuit!
 
2008-11-13 03:15:55 PM  

Ima10urin8: adamgreeney


you are way out of touch, this goes back to 1977


look up The Community Reinvestment Act


Um, i covered that.

Listen, i'll try and break it down for you as simply as i can, and I'll try not to use any words over 4 syllables.

The Community Reinvestment Act was put in place to help lower income people get houses. We know this. Now, typically mortgages have a foreclosure rate of around 3-5% if i'm not mistaken. This is expected and causes no great concern. If it was just the CRA that did it, it wouldn't have taken 30 years to come to a head. Honestly. . .

What happened was that all these lending institutions took advantage of the loose credit markets and gave out loans to people that couldn't even get them through the CRA. Now, those institutions bought insurance on those loans so that if they defaulted, they didn't lose any money. What the people providing insurance did was then buy their own insurance on the bond they were covering and then selling that insured mortgage to another party who then got insurance on this loan. It's like 20 people taking out fire insurance on your house, your house that they really own no part of.

Now, when these defaults started happening, all the sudden these companies owed dozens of people insurance on one loan, and since the Graham-Leach-Biley act made sure that banks don't have to have the capital on hand to cover these defaults, a lot of people needed to cash in insurance and the banks couldn't cover it.

Now, since there is no way for a company or a bank to know who has how many of these on the books, they stopped lending to other banks and to large corporations since they had no clue if the bank is solvent or not. And since so many overseas companies bought into these, it spread all over the globe. That's what froze the credit markets and farked us.

Got it now?
 
2008-11-13 03:17:31 PM  
DJIA will finish the day on a positive - this morning I was predicting around +200. The overall devaluing trend however, will continue into December. Things will be changing by mid-December and then DJIA could be looking at sub-7000 numbers with some forecasts looking at closer to 4000. (Hard to imagine but possible.) I just hope there are no natural disasters - or worse - to compound the issue and that this winter is rather mild. I am also holding hope that there will be an energy-related technological breakthrough (hydrothermal or solar maybe?) which would really save us all.

Then again, I am just a computer science guy.
My question to the real economists is when will the hyper-inflation kick in? Perhaps between mid-January and the end of March? I just want to know when to start buying AU and AG before they skyrocket.

Oh, and for any math geeks out there, you may want to take a look at Martin Armstrong's treatise (new window). I just stumbled upon it today and have not read much yet, but it starts off resonating some novelty theory. Interesting!
 
2008-11-13 03:17:37 PM  

NuclearWinter: Farkwaddle: I have the perfect solution for our economy. Raise the prices on video games by 25%. Get Blizzard to raise the monthly fee for WoW by 10% and this whole mess would be over. WoW is like crack to some people. They'll keep paying to get their daily heroic fixes.
Once the video game sales ebb, start taxing the fark out of bicycles and footballs. Then switch back to the video games after the bike sales ebb.

/I'm a bastard
//But I'm right...to some degree

Careful, an internet sales tax in various forms has been called for numerous times over the years. Don't give any more incentive to push for such a thing...


I'm only calling for the increase of revenue from video games and their services. Either way I bet I would be really popular here. I predict something like 70% of farkers play WoW. The others just play Guild Wars because they're too cheap.

/have both
//only play on rainy days
///I still prefer my bike
////gym's calling
 
Displayed 50 of 561 comments


Oldest | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | » | Newest | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter








In Other Media
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report