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Enough Bad News

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Elliott

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Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Just the headlines today:

The Dow industrials plunged 306.95 points, or 2.5%

Home construction plunged 14% in December, tumbling to its lowest point since 1991, while a sign of future groundbreakings also dropped sharply.

Merrill Lynch swung to a loss in the fourth quarter, as the investment-banking giant capped a bloody second half by recording a total of $16.7 billion in losses related to subprime mortgages and complex debt instruments.


Bond Insurer Stocks Plunge. Shares of MBIA and Ambac sank on news that major credit agencies were considering downgrades of their AAA ratings on bond insurers.

Washington Mutual swung to a fourth-quarter loss after writing down $1.53 billion in value in its home-loans business. The bank is considered a potential takeover candidate and shares traded up 5.1% at $13.10 after hours.

And a little good news:

Bernanke endorsed "quickly" implemented and "explicitly temporary" stimulus to revive the sagging economy and complement the Fed's efforts.




Must be time to buy stocks cause you really have the feeling why would
anybody want to own them.
 

Terrel L. Shields

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May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Bernanke endorsed "quickly" implemented and "explicitly temporary" stimulus to revive the sagging economy and complement the Fed's efforts.
sweeping back a tide that he personally helped create with his remark about "we'll just print more money" or some such when he was a mere mortal board governor. Greenspan is vigorously defending himself with the Sgt. Schultz defense "I know nothing...I saw nothing..."
This was created by Wall street who cannot be left off their leash without trying to kill each other. IF Glass-Seagall was still in effect, this wouldn't have happened.
 

Dee Dee

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Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
It's going to take a lot more "stimulus" (sorry...but for some reason I keep getting the mental image of an enema here...:Eyecrazy: ) than what this country can afford to make any significant turnaround in the direction our economy is heading.

I wish the government would just leave it alone and let the chips fall.
 

mwbode

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Jul 5, 2007
Professional Status
Certified Residential Appraiser
State
Florida
I like the the pundants on CNBC that are still saying no Recession.
 

bart nathan

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Jun 9, 2005
Professional Status
Certified Residential Appraiser
State
California
Dow will be back up again on fri. Just one day of bad news.
 

mwbode

Sophomore Member
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Jul 5, 2007
Professional Status
Certified Residential Appraiser
State
Florida
The DOW will bounce because of options expiring tomm and rollover activity. Or if Bernake does an emergency cut right on the open :~)
 

Greg Bell

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Jul 7, 2006
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Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
Milk is up 29% in one year ,that's not inflation , it's criminal.Quick , buy some beans and ammo..P.S If the DOW bounces it will be a suckers rally and a good time to sell in the bounce.This puppy is going to 10,000 easy...
 

Greg Bell

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Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
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Louisiana
Dow will be back up again on fri. Just one day of bad news.
Not a chance.Recession is already under way.A quick dead cat bounce and then down another 200 Points...
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
Not a chance.Recession is already under way.A quick dead cat bounce and then down another 200 Points...


Greg .. my broker told me about six weeks ago (a very large national firm) that they predict a dow 6000 and they currently show inflation at 14-15% annually. Im out and in cash and have been for quite a while. Just waiting.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
Dow 6000 would be a depression (In today's inflated dollars).Did you buy some beans and Ammo???
 
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