Ben Stein on Yesterday's meltdown.

Discussion in 'Stock Market' started by Baruch Menachem, Aug 9, 2011.

  1. Baruch Menachem
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    Baruch Menachem '

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    useful article. I like Ben, but I realize for a lot of you it is a matter of YMMV


     
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  2. editec
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    editec Mr. Forgot-it-All

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    When the herd is already spooked, it isn't too awfully hard to get them to stampede.

    Do I KNOW that is what is happening?

    No.

    But such events as these have been known to happen.
     
  3. Annie
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    Annie Diamond Member

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    On the irrelevancy of Obama:

    The most powerful man on Earth? - The Washington Post

    I'm not sold on the markets 'ignoring him,' as they started out negatively stable for most of the morning, then teetered just before he would appear, crashing during and after. He brought nothing new to the table, same old blame game and repetition of sharing the pain.

    He has spent all his important capital: Moral and political. He's got no game. I think he knows it too, which is why he's planning on spending the rest of his term raising capital of the greenback nature.
     
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Well here's the deal. Government like money is a human construct. An abstract. If you put people into the government who hate it, who don't want to govern, who want to nullify elections...then guess what.

    The government won't function and ceases to be relevant.

    This is what you guys want.

    This is what you guys got.
     
  5. Baruch Menachem
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    Baruch Menachem '

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    It is useful to remember that stock markets are small groups of people prone to panic attacks.

    Those of us old enough to remember the earlier days of the Reagan administration can remember the Granville stock panic, when one guy managed to spook the market down 300 points in a morning. within days the loss was erased by the end of the next day.

    One of the reasons when I hear about "Technical" stock investing, I laugh.
     
  6. TruthSeeker56
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    TruthSeeker56 Silver Member

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    The U.S. stock market is a JOKE. It is built on a foundation of speculation, paper wealth, and extremely creative Ponzi schemes that never cease to amaze me.

    Anybody who is playing around in the stock market right now is playing with fire.
     
  7. bitterlyclingin
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    bitterlyclingin Silver Member

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    Art Cashin made some remarks on CNBC this morning about yesterday's events and today's and Monday's prospective events. His remarks were that this appeared to be setting itself up for the classic "Thursday-Monday" trading cycle, the first of which preceded the October, 1929 Stock Market crash that ushered in the Great Depression: ie Thursday is a massive down day, Friday trading is choppy but not necessarily grossly negative in direction, but the following Monday is a selling climax. Mr Cashin then added a little euphemism when stating that this type of event is usually followed by a pronounced rally. Sorry Sonny, er Art, that didn't quite happen in 1929.
     
  8. rdean
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    rdean rddean

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    You gotta love it.

    Ben Stein, pusher of "magical creation" as science.

    corporate profits are extremely strong

    large corporations are loaded with liquidity

    The luxury retail sector is powerful.

    Autos are excellent.

    The agricultural sector is stupendously strong.

    High tech and biotech are doing well, sometimes amazingly well.

    -------------->>>>>>>>

    Yet, the president, who saved the auto industry is awful. Everything is doing well, but the president is awful.

    THE EXACT OPPOSITE OF BUSH.

    Bush was doing "extremely well", but everything else turned to shit.

    That's why Republicans live in the "Bizarro World".

    [​IMG]
     
  9. Yurt
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    Yurt Gold Member

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    why does rdean keep repeating that obama alone saved the auto industry? apparently he "forgot" bush's role in TARP.
     
  10. JimBowie1958
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    JimBowie1958 Old Fogey

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