Great Depression Pattern Repeating

Discussion in 'Stock Market' started by Big Fitz, Jul 5, 2010.

  1. Big Fitz
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    Big Fitz User Quit *****

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    News Headlines

    This should be making a LOT of people very very nervous, and it's about right on schedule. I feel like the rollercoaster just got over that hump before the drop and 'buzzed' off the lift chain. If it's going to happen, we're probably talking weeks now, not months. Possibly even days.

    Then the world changes.

    :eek::eusa_pray::eek:
     
  2. geauxtohell
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    geauxtohell Choose your weapon.

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    First off, are you praying for or against a depression?

    Secondly, it's always funny when internet board members make economic predictions. Weeks? Days? Goodness!
     
  3. Trajan
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    Trajan conscientia mille testes

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    nothing would surprise me at this point. If we are heading back down to 6500 or 700 I would not all be surprised. If , in another 60 days bus. large and small doesn't start getting moving that is a sure bet. Capital flees taxes, seeing whats in store for us with the bush tax cuts and whatever else will be heaped on, money will hunker down, corp. profits which were squeezed out of downsizing and forced productivity gains and inventory depletion will evaporate as they must as theey are short term corp. profit drivers which of course drive most stocks.
     
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  4. Big Fitz
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    Big Fitz User Quit *****

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    But nobody on the left will believe you that this is how it works even as they do the same thing and run for cover.
     
  5. william the wie
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    william the wie Gold Member

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    posted another similar thread on another board based on my own analysis of overnight momentum. A major downturn is not inevitable just very likely.
     
  6. topspin
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    topspin BANNED

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    I worry a lot more about earnings than technical charts, earnings have been getting better and economist are projecting growth this year.
     
  7. midcan5
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    midcan5 liberal / progressive

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    Is the figure the wall street casino presents a sign of anything more than how the bets are going? Sadly today with finance blended into economics probably, yep. But still so long as the hedges aren't extreme we should be ok but....

    The great depression was the result of a market that was a bubble, a banking system that was unregulated, and the concentration of money. Yes, I guess it is similar but not for the reasons mentioned.

    'How's That Recessioney, Oily Thing Working Out For You'

    "As of 2004, the richest one percent of Americans possessed sixty percent of all wealth in the country, while the bottom forty percent accounted for a whopping two-tenths of a percent."


    "Let’s be honest: We live in stunningly, jaw-droppingly, ridiculously absurd political times.

    Here’s the story in a nutshell: A far-right predatory overclass has spent the last thirty years undoing the hard-fought gains of the mid-twentieth century, which had produced a robust middle class and vastly more economic and social justice in America than the country had ever known before. These regressives used every kind of deceit imaginable to persuade unsophisticated voters to choose candidates whose real agenda was to assist their plutocratic puppetmasters in fleecing the very same people who voted for them.

    Such candidates ran on issues like the death penalty, immigration, bogus wars, gay marriage and abortion. But what they really were about as legislators was exporting jobs to where workers are dirt cheap and politically neutered, crashing organized labor, shifting the tax burden onto the mass public, deregulating industry to allow unhindered profit-taking on the upside and socialized public responsibility for risk on the downside, and locking in a Supreme Court majority that would never blanch at even the most outrageous rulings enhancing corporate power in American society."

    David Michael Green

    The Regressive Antidote - How's That Recessioney, Oily Thing Working Out For You?
     
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  8. saveliberty
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    saveliberty Diamond Member

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    I would be truly surprised if the growth is really there. I have not seen a new house constructed in quite some time here. Existing housing stock is deteriorating for the most part too. Car sales are slightly better than last year, but no real recovery there either. Any major purchase seems to be slowing.

    With people losing income in the form of unemployment checks, I doubt any growth seen so far this year is sustainable. Local governments are going to have to start facing reality through downsizing, retirements and outright slashing of positions. The economic contraction is just starting phase two.
     
  9. Mr. H.
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    Mr. H. Diamond Member

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    Stylish, AND functional.

    [​IMG]
     
  10. midcan5
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    midcan5 liberal / progressive

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    Housing is part of the problem in this nation imho. Building sprawl is wasteful, destroys land that could be used for farming, creates energy addiction, and destroys the concept of neighborhood. Is it any wonder we live in a land of narcissistic despair where fear is not only out there but in our own neighborhood.

    America is becoming the land of 'no can do' and the naysayers are happy with that impression as elections cause the pendulum to swing back even when back is really back.

    Imagine the sensible demand / growth of rebuilding neighborhoods. Philly has some of this as old neighborhoods near the city rebuild. I was watching a show on how we are destroying our environment with sprawl and it reminded me of something I wrote a while ago. I need to see if the piece is on utube.

    http://www.usmessageboard.com/energy/56561-plowing-not-drilling.html
     

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