Are you worried?

[Guest]

Black Monday at the stock market....

Lehman Bros did not sell and had to declare bankruptcy, Merill Lynch sold to Bank of America to ward off bankruptcy and AIG is most likely next.

The Stock Market down 300 points at the start.

On Sunday Greenspan said it was a 100 year event. The economy is tanking.

[Guest]

Yes I'm worried about the stock market and the economy
What i don't understand is why the two ROCKET SCIENTIST who are running for president
aren't addressing the issues It seems the only talent they have is to bash each other

[Guest]

:agree::agree::agree::agree::

It is time to cut the crap and work on this...

[Guest]

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK

[Guest]

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK

I wish I knew how Congress can legislate greed-control, especially when it involves investors at all levels of the population spectrum.

[Guest]

My husband is bouncing off the walls here! And I'm scared to death that McCain will be voted in carrying over the policies of Bush for another 4 years! Not to mention, his admitted lack of knowledge of the economy. :swear:

If people that fear change would only understand that with a Democratic Congress and Senate and a Democratic President, things at least have a chance of improving. My personal feeling is that (not over night) our economy will greatly improve. Otherwise, with McCain, the veto's will flow. And we'll be worse off than we are today.

People you'd better start listening to your pocketbooks and wallets, instead of voting for someone you could have a beer with. Guess what you wouldn't be able to afford a beer!

Wake up!

[Guest]

My husband is bouncing off the walls here! And I'm scared to death that McCain will be voted in carrying over the policies of Bush for another 4 years! Not to mention, his admitted lack of knowledge of the economy. :swear:

If people that fear change would only understand that with a Democratic Congress and Senate and a Democratic President, things at least have a chance of improving. My personal feeling is that (not over night) our economy will greatly improve. Otherwise, with McCain, the veto's will flow. And we'll be worse off than we are today.

People you'd better start listening to your pocketbooks and wallets, instead of voting for someone you could have a beer with. Guess what you wouldn't be able to afford a beer!

Wake up!

In the 1980s and 1990s, more than 1,000 savings and loan institutions failed, leading to a federal bailout totaling roughly $125 billion.

The last Democrat to be president came to Mexico's aid in 1995 when the peso flopped. The international bailout involved countries and banks lending Mexico $50 billion. The US share was $25 billion of American taxpayer money.

Also during the last Democratic administration (1998) the hedge fund Long-Term Capital Management croaked and prompted the Federal Reserve to help arrange a $3.6 billion private bailout.

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them.

[Guest]

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them
__________________________________________________ ______________________--

It appears, from my reading on the posts, that CHELSEA feels all the ills and bad things in the world come from the Republican party and that goodness and holiness emit from the left !

[Guest]

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them
__________________________________________________ ______________________--

It appears, from my reading on the posts, that CHELSEA feels all the ills and bad things in the world come from the Republican party and that goodness and holiness emit from the left !

I would disagree...I think she is looking at what is going on right now. With a republican in office RIGHT NOW...and for the last 8 years...the economy has only gotten worse! I think Chels see's no HOPE with 4-8 more years! We (the American people...of all ages, race and backround) need HOPE that we will see better days a head...there is NO HOPE in McCain!! IMO

[Guest]

Is it true that the Co's from Freddie and Fannie have joing Osamas financial team ?:a040::a040:

[Guest]

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK
Read The Rise and Fall of the Roman Empire... we will not always "bounce back". Our economy is a house of cards that is imploding. Those of us living on a 401 K are in major trouble. Those on fixed gov't pensions should be fairly safe for the immediate future. Someone recently forewarded me a terrifying report from Forbes that essentially said our gov't is the next to declare bankruptcy. If someone can explain how to get it from my e-mail to this forum I'll share it with yall. And yet, the houses keep popping up all over TV... go figure.

[Guest]

Is it true that the Co's from Freddie and Fannie have joing Osamas financial team ?:a040::a040:

that was RUDE....

and his NAME is Obama! Not Osama....whether it was meant as a joke. It was wrong. IMO! :(

[Guest]

To: undisclosed-recipients


All,
See http://www.forbes.com/forbes/2008/0929/034_print.html

[Guest]

The Dow Jones industrial average plummeted more than 500 points — its worst session since the days after the Sept. 11, 2001 terrorist attacks.

Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future. "There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes.

Today -- when 148-years-in-business investment firm Lehman Brothers has gone bankrupt, and it's the biggest bankruptcy in history.

Today -- when investment firm Merrill Lynch, tetering on disaster, had to be rescued from a similar fate by Bank of America. Merrill Lynch had net losses of more than $17 Billion this year.

Phil Gramm, who was co-chair of McCain’s campaign, is not just another lobbyist. He is the man most responsible for the repeal of Depression-era banking regulations that have led directly and inextricably to much of today’s economic turmoil, and parlayed that classic example of legislative legerdemain into a lucrative lobbying career for the very people who scratched the smug Texan’s back — as well as McCain’s — on Capitol Hill. Gramm was the biggest of the big guns behind the 1999 repeal of the banking regulations — the Gramm-Leach-Bliley Act — which was officially called The Financial Services Modernization Act. Passage of the law was greased with an astonishing $300 million in lobbying money, and it encountered little opposition other than from those old-fashioned banks that actually insure your deposits. One of many consequences of the repeal was that a year later the Swiss bank UBS gobbled up brokerage house Paine Weber. A year after that, Gramm settled in as a vice chairman of UBS’s new investment banking arm and has since energetically lobbied Congress, the Federal Reserve and the Treasury Department on banking and mortgage issues. This has included rolling back state rules that sought to stem the rise of predatory tactics used by lenders and brokers that led directly to the subprime mortrage meltdown, which cost USB more than $19 billion in writedowns and the prospect of massive job cuts. We can be certain that even more wrack and ruin will be in the offing with a McCain presidency. This includes more of the Rich Come First economic voodoo that the Bush administration has visited upon Main Street while Wall Street investment banks got fat and happy until their greed bit them in their collective ass and they had to come begging for taxpayer bailouts. Which of course they are getting, no (serious) questions asked. Considering the pain and suffering that Gramm’s masterwork has caused ordinary Americans, it is not hyperbolic to say that he is a terrorist, he just doesn’t wear funny looking headgear and carry a Kalashikov.

Today, John McCain said once again, "… still, the fundamentals of our economy are strong."

John McCain lives a lavish super-rich lifestyle on his wife Cindy's secret 100 million dollar fortune! He won't tell the American people exactly how rich she is, but his own tax returns give a sneak peak. Now this is a true elitist life-style with servants, care-takers at some of his reported 8 homes, and personal assistants.

McCain reported paying $136,572 in wages to household employees in 2007. Aides say the McCains pay for a caretaker for a cabin in Sedona, Ariz., child care for their teenage daughter, and a personal assistant for Cindy McCain.

[Guest]

I have seen market declines inthe past, and this is a bad one for sure. The market seems to always recover with time. There is no way to know how long it will take and how much damage this will cause in the meantime. The only bright spot I see at the moment is road construction is strong. Other types of job growth is weak and housing stinks. All this and high oil prices.

It's going to take a while to work out I'm afraid.

But I don't believe the sky is falling.

[Guest]

Not a true statement if one looked at the economy for the 7 previous years.
It is oh so easy to tar the entire 8 years with the current years environment, however, if that is what some think, so be it, but one heck of a lot of money was made in the previous 7 years.
There has been a congress controlled by the Dems for the more recent years and can somebody please enlighten me with what they have proposed during that time that could have created improvement.
As I stated in an earlier post, there will be no improvements come forth from the stalemated partisan inaction.

My favorite....the easiest one that is still irresponsibly locked up by congress? Energy legislation. If there would be the slightest cooperation to AGGRESSIVELY pursue increased domestic drilling, new refinery capacity, wind, solar and nuclear.....like we did the space race as launched and supported by Kennedy....like we did the war production efforts of WW II....there would be more new jobs created that in those days. The bi product of the energy independence that would accompany it would be even more significant.

This is only one aspect that would bring REAL, NOTEABLE CHANGE.
Yet we sit and watch the do nothing....cry about the sky falling.....AND CONTINUING TO DO NOTHING but blame the other guy.

The incurable disease of partisan politics can only continue taking it's toll.

How unrealistic is that?:cus:

BTK:cus:

[Guest]

If memory serves me correctly, Bush Sr. was part of the S & L scandals during his Presidency! Like father, like son. :rant-rave:

If I remember correctly a senator from Arizona was censured by the Senate for his involvement in the Keating scandal.

[Guest]

If memory serves me correctly, Bush Sr. was part of the S & L scandals during his Presidency! Like father, like son. :rant-rave:

[Guest]

I would disagree...I think she is looking at what is going on right now. With a republican in office RIGHT NOW...and for the last 8 years...the economy has only gotten worse! I think Chels see's no HOPE with 4-8 more years! We (the American people...of all ages, race and backround) need HOPE that we will see better days a head...there is NO HOPE in McCain!! IMO

...And I see nothing but hope, regardless (or in spite of) whoever occupies 1600 PA Ave, DC.

What are "better days?" The quality of life for Americans gets a little better with each passing decade. Just look at the public services which are available, the private facilities and services at arm's reach and how we keep getting better at "first-responding" (Nobody can stop Mother Nature, but we do a pretty good job at mitigating the effects). Compare any of this to past times!

The glass is always half-full or better to me. I have greater resources and substance than any previous generation of my family, and my kids have even greater opportunities than I did.

Sure, I've lost money in the stock market, but I at least HAD money to lose - which is more than my parents and grandparents.

Wars still exist and will happen again, but ironically they are "smaller" than in previous generations, and hopefully that trend (if we are to have war) continues.

At present trends, my spouse and I will live longer than any of our parents, thanks to better diet and a medical establishment which (although not inexpensive) keeps expanding the capacity of humans to accrue more time alive.

Presidential administrations have come and gone, and life in this great nation is still prized by most of the citizenry and millions elsewhere who would trade anything and everything to be here (and often do!).

So, whoever feels hopeless in America, go get professional help. We even have plenty of that in the USA. You got it better than most of the planet.

[Guest]

SteveZ you surprise me with this post. You're so gloom and doom about anything even remotely left, and now you're all about "hope"?

IMHO, this happened on Bush's watch. And please don't give me "but this started long before Bush" when we are spending millions if not billions a month in Iraq.

Greenspan is saying "this is the crisis of a century". And although that guy should shut the :cus: up, he might be right.

I listened to many economists last night, and they were saying that all of this could take 10 years! It's time to get real folks. Empires have fallen and American can go Bankrupt! That's the simple truth. :(

Clearly we need CHANGE!

[Guest]

I feel very blessed that I was born in this great country. I have felt the ups and downs throughout my life, but have always felt very blessed. . I have seen corporations leave in droves to escape taxes and acquire slave wage labor elsewhere. This is a big problem! It has cost this great country our jobs and our personal tax costs have skyrocketed. I personally do not live as well as in the early 90's mainly because of fear. Job losses, rising costs, no healthcare, and opportunities are dwindling for us, our sons and our daughters. Example: Our daughter worked very hard and got her CPHT (Certified Pharmacy Technician) took the state exam and then was offered 7.50 an hour. What a joke! She worked so hard and wanted to someday be a pharmacist. She can't afford to continue school. Now she sells on EBAY hoping to pay that school bill off soon. Our children wonder if they will be able to afford healthcare, buy a home, feed their family, save for their future. Things do not look good and we, the people of this fine country, need to think long and hard about demanding changing many things. The consequences of companies leaving this country for tax shelter should pay a price, for one, ................Oh no this is the political forum, I'm outta here!!!!

[Guest]

SteveZ you surprise me with this post. You're so gloom and doom about anything even remotely left, and now you're all about "hope"?

IMHO, this happened on Bush's watch. And please don't give me "but this started long before Bush" when we are spending millions if not billions a month in Iraq.

Greenspan is saying "this is the crisis of a century". And although that guy should shut the :cus: up, he might be right.

I listened to many economists last night, and they were saying that all of this could take 10 years! It's time to get real folks. Empires have fallen and American can go Bankrupt! That's the simple truth. :(

Clearly we need CHANGE!
There's no gloom to me - only reality. The reality is, I've seen a lot worse than this, so "this" is no big deal.

Whether it's billions in Iraq or elsewhere in the Mideast under a couple Republican administrations; or billions in Vietnam, Korea, Japan, the Phillippines, Taiwan and most of Europe under a few Democratic administrations; it's happened before and it will happen again. The recovery path is always the same as it has been in past years (we just don't remember it because we were either not born yet or too distracted elsewhere!) and will occur again.

America is ALWAYS deep in hock - whether it is by government debt or combined personal debt of the citizenry. The ability to be in debt is what allows most people the opportunity for home ownership, cars for the masses, college for just about everyone, all the stuff we "just can't live without," and support of a goodly chunk of the rest of the world via the US' "shares" of the International Monetary Fund. Sometimes the debt-ratio-per-citizen fluctuates, but it always has been there to some measurable degree.

The US is still the major consumer market in the world, and many economies are based on US ties, one way or another. If the bubble bursts a little, causing some Audi owners to swap for a Camry or a Ford Fiesta, that's hardly the end of life as we know it. Being in personal debt or not realizing that the terms investment and gamble are synomymous doesn't change the fact that the former is living on the future, and the latter is betting on someone else's abilities. Either way, there is risk, and there is no such thing as no-risk risk.

We have as close to absolute freedom absent anarchy as a country could have. Hopeless to me is not having any quantum of freedom to effect my own well-being, which is why I'm not too keen with "government" having control over much of what I can do. The most hopeless people I have ever met were totally or close-to-totally "taken care of" by some government somewhere. Lord, please save me from everyone who wants to "help" me for their sake or what they perceive is in my best interest!

Yep, we have it made! As long as we stick to the Constitution - the best collection of ideas on earth - we will continue to have it made. Everything else is just a small pot-hole on the turnpike of life, including periodic elections.

[Guest]

I feel very blessed that I was born in this great country. I have felt the ups and downs throughout my life, but have always felt very blessed. . I have seen corporations leave in droves to escape taxes and acquire slave wage labor elsewhere. This is a big problem! It has cost this great country our jobs and our personal tax costs have skyrocketed. I personally do not live as well as in the early 90's mainly because of fear. Job losses, rising costs, no healthcare, and opportunities are dwindling for us, our sons and our daughters. Example: Our daughter worked very hard and got her CPHT (Certified Pharmacy Technician) took the state exam and then was offered 7.50 an hour. What a joke! She worked so hard and wanted to someday be a pharmacist. She can't afford to continue school. Now she sells on EBAY hoping to pay that school bill off soon. Our children wonder if they will be able to afford healthcare, buy a home, feed their family, save for their future. Things do not look good and we, the people of this fine country, need to think long and hard about demanding changing many things. The consequences of companies leaving this country for tax shelter should pay a price, for one, ................Oh no this is the political forum, I'm outta here!!!!

Just believe in the saying you have in the signature block at the bottom of your last post. It's one of the best I've ever read!