gh wrote: gh, what does Google Finance say about the Dow Jones Industrial Average?
*picks up mouse off of mousepad*
It's over NINE THOUSAND!
*crushes mouse in hands*
WHAT, NINE THOUSAND?
The Economic Crisis
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SiegeLord
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Re: The Financial Crisis
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bah
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Re: The Financial Crisis
Another gigantic stock market rally today.
One can speculate that the worse of the financial crisis has subsided, and now we are dealing with the prospect of experiencing a broader and significant economic downturn/recession.
It is also rumored that the Fed will cut interest rates to 1% tomorrow.
There were a few things that I didn't expect to happen in the past few weeks.
The most significant one is the US dollar strengthening so much in these pressing times. I was expecting people to flee the Dollar, but people have been gobbling up those Treasury securities. I guess people feel safe storing their wealth in US Dollars.
Also, I did not expect the great magnitude in the drop in commodity prices, including oil and gold.
One can speculate that the worse of the financial crisis has subsided, and now we are dealing with the prospect of experiencing a broader and significant economic downturn/recession.
It is also rumored that the Fed will cut interest rates to 1% tomorrow.
There were a few things that I didn't expect to happen in the past few weeks.
The most significant one is the US dollar strengthening so much in these pressing times. I was expecting people to flee the Dollar, but people have been gobbling up those Treasury securities. I guess people feel safe storing their wealth in US Dollars.
Also, I did not expect the great magnitude in the drop in commodity prices, including oil and gold.
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i brk a lot of eggs
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Re: The Financial Crisis
[ 
Last edited by i brk a lot of eggs on December 9th, 2008, 4:24 pm, edited 1 time in total.
2009 State Results: 2010 State Results:
Disease Detective:7th Battery Buggy 2nd
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Trajectory: 8th Wright Stuff 4 or 5
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binary010101
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Re: The Financial Crisis
As of right now, I'm not worried about the politics of the issue; I don't really care who gets elected. We have more immediate problems at hand.
If you look up the credit card companies' assets (JPMorgan Chase, Bank of America, CitiBank, etc. not Mastercard and Visa) you'll realize that over 20% of most companies' business is based on credit cards. If the credit card holders default on their debts, there is no collateral and the banks can't recoup their losses. Also, the current bailout plan only covers mortgages, and not credit card debt.
In my opinion, it's going to get worse before it gets better.
If you look up the credit card companies' assets (JPMorgan Chase, Bank of America, CitiBank, etc. not Mastercard and Visa) you'll realize that over 20% of most companies' business is based on credit cards. If the credit card holders default on their debts, there is no collateral and the banks can't recoup their losses. Also, the current bailout plan only covers mortgages, and not credit card debt.
In my opinion, it's going to get worse before it gets better.
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SiegeLord
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Re: The Financial Crisis
Short term thinking that got us into this mess in the first place...As of right now, I'm not worried about the politics of the issue; I don't really care who gets elected. We have more immediate problems at hand.
[wiki][/wiki] > [wiki][/wiki] > [wiki][/wiki] + [wiki][/wiki] = [wiki][/wiki]
Chat with the Cheese Captains! ~(O o)~
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Protestant
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Re: The Financial Crisis
Explain please.SiegeLord wrote:Short term thinking that got us into this mess in the first place...As of right now, I'm not worried about the politics of the issue; I don't really care who gets elected. We have more immediate problems at hand.
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Dark Sabre
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Re: The Financial Crisis
All I know is that my paycheck isn't going down (and I have nothing invested), but gas prices and the rents of places I'm looking at are...
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binary010101
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Re: The Financial Crisis
Nice. Good luck to you in your quest.
...NOT Communist.Dual-Booting Windows 7 and Ubuntu 9.10
THE GAME.
"Mentat, solve thyself." ~ Dune
I follow the Path of the Beam.
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bah
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Re: The Financial Crisis
Well, I guess I could do an update...
The big 3 automakers are begging for a bailout from the US government.
General Motors will fail in a few months if there is no government intervention.
What say you?
The big 3 automakers are begging for a bailout from the US government.
General Motors will fail in a few months if there is no government intervention.
What say you?
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