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Since 1992 the so called wealth in America is & has been proven to be based on lies o& BS. The dotcom's, Enron, real estate & now the auto industry. We have no one to blame but our selves. We believed that wealth could be created without producing anything. Just shifting paper & more paper created an illusion. I think our next Pres. & the Democrats will be presiding over the largest going out of business sale in history. What we did to the old Soviet block in the late 80's, the Arabs (oil producers) with the help of corrupt politicians & businessmen have done to our country in 2008. Our country is bankrupt & our country is devoid of good leadership when we really need it. The next 18 months will be the most trying in my lifetime. I'm 66, but I do not want to see the hardships that are going to be endured by alot of people in our country. This is beyond politics--It is our nations survival which is at stake.

Lou
 

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More bad news every day. If your in the market, I'm sorry for you. This had to happen, when $20 is loaned out for every %1.00 in real money. Most major investors saw this comming 2 years ago. I did and got out at 13,700. And we are not at the bottom, yet. Some are suggesting the DOW will drop to 4000 before it reaches the bottom, with unemployment at 10-12%. Not depression numbers (25% unemloyment) but getting close. I'm no wizard, but for any of you still in the market, you best sell and take your lost.
 

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Over 90% of us have jobs, 95% of us are still making our mortgage. We still have food to eat, gas to fuel our vehicles. You can get on a plane, train or ship and go almost anywhere in the world. You can go out to eat.

Some are still shooting clays, playing golf, etc. We have sent our kids to collage.

We will buy a turkey and or ham for Thanksgiving. Black Friday is only 7 days from today. The mail is still being delivered. Health care is available to all that need it.

Call a service industry and they will respond. Go see your mechanic and he still can get parts to fix your car.

Home sales are up in California, Nevada and 2 other states.

What's wrong? People bought homes they could not afford or qualify for. People bought into companies (stock) that did not produce a product but continued to grow on paper. Crooks were running corporations and had help to fool the auditors. Parasites keep feeding on a host that is almost dead.

Why is the money leaving the stock market. Uncertainty. Who will get taxed by the new administration?

Who will be the next to ask Congress to bail them out? Cities or states?

We still do not know what the "change" in Washington will really be. It sure does not look like new people and new ideas.

What will I do? Go to work tommorrow, keep a close eye on my finances. Buy what I need but shop wisely.
 

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Laudy: you best keep a very, very close eye. If you've been in the market for any lenght of time, you've lost 40% of you're value.
 

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And now the Dems want to nationalize your 401K holdings and promise a "guarantied" 3% return! Happy days are here again!
 

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Instead of bailing out the banks and companies that created this mess,we should be putting the people back to work by building new infrastructure that will benefit our future generations. Let's try trickle up economics instead of trickle down. We need to fix the problem before pouring more money into a leaking boat otherwise it will just end up in the wrong pockets once again. We need jobs not promises.
 

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It sure would help the confidence of most Americans to impeach our new President just now. Not.

Where do these goofy ideas come from? Is Karl Rove still in the White House?
 

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Hey ChuckieRR- Seeing as your an expert on all things political- please explain the connection between this Holder guy and Castro- You know, through the whole Gonzales kid thing a few years back?


And also explain why your boy Obammie is staffing his "presidency of Change" with all of the old Clintonistas. This is change?
 

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The very worst part of this whole scenario is the fact that the idiots are going to turn what should be a short sharp recession into a long drawn out full blown depression.

You can't create jobs by taxing people who have no money. And the top 5 percent or whatever can't carry the whole burden, especially when all these programs supposedly will go into effect.

Keynes was a moron, Von Mises has the truth.

HM
 

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The markets (financial, stock, manufacturing, commodities) thrive (or go bust) based on news. The factor of confidence also plays a key role. If the confidence in a particular market goes south, that market depresses. When was the last time you saw a positive market story in the news?

Look at the auto industry right now. Gasoline topped $4/gallon, and oil neared $150/bbl this summer, but were there for only about 30 days. It caused people to make a fundamental change in how they lived their lives. People instantaneously stopped buying vehicles of all sizes (not just SUV's), and they hunkered down for a tough ride. On top of that the financial markets went south as a result of Fannie Mae/Freddie Mac loan debacle. The confidence that money could be trustfully lent to others went right into the dumper.

Gasoline prices have retreated to levels not seen since 2007, and oil is heading downward toward $40/barrel. Still, people are worried about jobs, credit, house payments, and a dismal look toward the future. With inflation, oil is truly only a $40-$50/bbl commodity. It was overpriced at $90/bbl. Do you think that any oil companies are going to explore for oil at $50/bbl?

Economics is about supply and demand. Economics also understands the emotion of people, and their ability to drive those markets forward.

This is what spells recession - L-A-C-K O-F C-O-N-F-I-D-E-N-C-E.

Best,
Dennis
 

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Laudygirl, Our great( not! ) governor of New Dork, is asking congress for a bail out right now, because the leaders of this wonderfull state of welfare, won`t make any cuts for fear of loosing some donations from the union lobbyist.

More pigs at the trough.

Tom R.
 

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It's always darkest just before dawn. The end of the world, country, whatever has been predicted many time and it never happened. It was once thought that all the oil in the world would be drained by 1929. Didn't happen.

This will probably be looked back upon as the greatest stock buying opportunity in this century and many pessimists will miss it.
 

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As a person who used to be in the investment business you'd better sell when the masses are buying and buy when the masses are selling. 90% of the people who invest will do the wrong thing at the wrong time.

JB=Jerry Beach 8503917
 

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Dennis, the Housing market meltdown was not a function of "Lack of Confidence", it was about Greed and excessive Leverage and Wall Street and the Banking sector being caught with their pants down....

That situation has yet to correct itself and added further to the lack of Credit available to the Global and American public and is now manifesting itself in the Big 3 Ford, GM and Chrysler...

True the Media feeds into the crisis, thats how they make their money....

In Truth, the big American Credit buble has collapsed and no immediate correction in sight....

regards
 

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Chuckles, I realize that the Fannie Mae/Freddie Mac debacle was greed driven. Its upshot was to create a lack of confidence in the market. When confidence is down in the market, the market is down.

Dennis
 

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It is just like shooting trap.

If you have no confidence and think miss - there is a greater chance you will miss the bird.

If you think you will lose the shoot-off, you probaly will.

Don
 

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The housing bubble, like the stock market bubble of the Clinton years, had to burst. It was based on "irrational exuberance". People were buying 100,000 homes for 500,000 dollars and all getting rich. It had to end. We have gone beyond that now. People afraid to buy cars, invest in stocks, or go Christmas shopping is based on fear. Fear caused by and over exuberant media trying their best to put Democrats back in charge and show the world that capitalism has failed and only socialism can bring us back. Obama's socialism. All hail Obama, our new King, the smartest President of all time.
 
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