Wow - Dow Down almost 1000 pts

[valkyr]

Interesting to see that the DOW is down almost 1000 pts in 9 (or so) trading days.

 

[Vlad D Impeller]

Re: Wow - Dow Down almost 1000 pts

Always remember that what goes up must inevitably come down, the trick is to move out of the way before something falls on you.

 

[SpinnerBait_Nut]

Re: Wow - Dow Down almost 1000 pts

Always remember that what goes up must inevitably come down, the trick is to move out of the way before something falls on you.

Yea, I moved some yesterday

 

[treedancer]

Re: Wow - Dow Down almost 1000 pts

Looks like a good time to find some low-lying fruit ripe for the picking, that is if you have a clue ,which I don?t ,so will stick with my Vanguard index funds.

 

[sun_runner235]

Re: Wow - Dow Down almost 1000 pts

Dow started to fall rapidly on July 24.....what happened that day?......Hmmmm....Oh wait, that's the day the minimum wage increase took affect.



Man I love throwing gas on the fire!

 

[JB]

Re: Wow - Dow Down almost 1000 pts

I think it is several things. Most important are the fall in real estate sales and prices and the price of oil $78/bbl when I last looked).

Those two things alone will ripple through the entire economy quickly.

 

[12Footer]

Re: Wow - Dow Down almost 1000 pts

From down here in Florida, my opinion is that both JB and Sun Runner are correct. For the past 6years, and especially between 2004-2006, houses went up around me as if it were to be a completed subdivision! These are all private lots. Home values after Huricane Charley skyrocketted, as did building materials. The home I built in 1984 for 40K was still being built -- for 130K!!! The bottom definatel;y fell-out about this time last year.
Now, I am surrounded by vacant homes, many of which were built on spec, and have grass 2foot ('cept fer the lots I own).
I'm thinking I should've sold them and this cracker box, and headed fer the hills of N/C last year. Gas prices and higher labor costs are giving buisnesses the heebee-jeebees.
And me too.

 

[woodrat]

Re: Wow - Dow Down almost 1000 pts

might as well have your money tied up in a boat instead... loses value at about the same rate but way more useful and fun than a wad of paper from the stock broker.....

 

[studlymandingo]

Re: Wow - Dow Down almost 1000 pts

Well I'm in the housing business, and believe me it's scary! We are just trying to hang on right now without losing our shirts!!!​

 

[ricksrster]

Re: Wow - Dow Down almost 1000 pts

If your looking toward the future Look at the big picture. The five year chart is attached.

 

[RubberFrog]

Re: Wow - Dow Down almost 1000 pts

It's been working great for me, but I don't follow it week by week.

 

[valkyr]

Re: Wow - Dow Down almost 1000 pts

If your looking toward the future Look at the big picture. The five year chart is attached.

Now you're just confusing the issue with technical analysis...bah!

 

[ricksrster]

Re: Wow - Dow Down almost 1000 pts

Even at this hour it is climbing back up. Everything has its ups and downs.

 

[jbjennings]

Re: Wow - Dow Down almost 1000 pts

Wait 'til the war's over and democrat gets in, watch it fall like a ton of bricks.
my crystal ball says so!

 

[PW2]

Re: Wow - Dow Down almost 1000 pts

I think it is several things. Most important are the fall in real estate sales and prices and the price of oil $78/bbl when I last looked).

Those two things alone will ripple through the entire economy quickly.

Not sure about the effect of oil on things...It's been $60-$70 for awhile, but clearly housing has a big effect. When people can take out a second mortgage out and take a tax deductible cool $100k or more to spend as they choose, that's quite a boost to the economy. When that is no longer available, and the loan needs to be repaid, that's a double hit to the economy

The second big thing is what drove the Dow up in the first place. Multi-National companies are overweighted in the Dow, and the global economy has been far outpacing the US economy, and global results for companies like GM, Ford, Dow Chem etc. have been good.

The US economy is still, when all the dust settles, seriously driven by consumers, and US consumers have less money.

 

[POINTER94]

Re: Wow - Dow Down almost 1000 pts

Quote PW:
"The US economy is still, when all the dust settles, seriously driven by consumers, and US consumers have less money."


I would love you to reconsile this with the liberal compulsion to raise taxes at every turn.....

 

[ricksrster]

Re: Wow - Dow Down almost 1000 pts

Consumer spending dropped in June but consumer confidence rose one month later.http://www.boston.com/business/globe/articles/2007/08/01/consumer_spending_slows_down_in_june/

 

[ricksrster]

Re: Wow - Dow Down almost 1000 pts

People,
You should not be so pessimistic about the American economy. It is as strong as ever. Just say no to Kool-Aid.
The libs want to paint a dismal picture so they can come and save you. BIG government will fix your fears and worries even though the are in reality unfounded. This is how they try to get elected. They tell you that you are miserable and that they can make you feel better. Only problem is that there is nothing really to be miserable about.

 

[PW2]

Re: Wow - Dow Down almost 1000 pts

Quote PW:
"The US economy is still, when all the dust settles, seriously driven by consumers, and US consumers have less money."


I would love you to reconsile this with the liberal compulsion to raise taxes at every turn.....

What's to reconcile? The big tax cuts to the top 1% don't do the economy any good. They don't spend more money, and for the most part, they are going to invest the extra money to places that promise better growth and rate of return, like China.

It's the middle class tax cuts that might result in spending more money and stimulate the economy. Tax cuts to the top 1 % simply result in less revenue, and bigger deficits.

But wait, that is precisely what Clinton did, and how we were able to balance the budget while sustaining economic growth.

 

[tommays]

Re: Wow - Dow Down almost 1000 pts

first big fallout today

American Home Mortgage 7000 layoffs with 1300 down the street

AND THERE NOT EVEN A SUB-PRIME LENDER


Tommays