The Panic of 10/24/08

[DavidS]

I'll tell you what Neal Boortz had to say on the subject yesterday on Cavuto. "The stock market is tanking cause all the rich people are pulling their money out and moving it to hide away in case Obama gets in the WH."

Of course someone said that on Faux. What else would you expect? It's the typical Republican attack...instill fear in the voters so they'll vote for McCain.

 

[xsited1]

Of course someone said that on Faux. What else would you expect? It's the typical Republican attack...instill fear in the voters so they'll vote for McCain.

Neal Boortz is a Libertarian.

 

[DavidS]

Neal Boortz is a Libertarian.

I'm not concerned what he is... it's 100% completely false. The reason the economy is tanking is because of the housing crisis and the credit market. Now we have earnings reports, oil production being slashed, unemployment, layoffs, fears of a global recession. The credit market is starting to unfreeze from bank to bank but not bank to lender.

 

[Navy1960]

because on this post, you are wearing your partisan hat?

No, I just woke this morning, and turned on the news, and started channel surfing, and took notice on the National Barack Channel, and then I turned to the Far Right Channel , and then back to the All Barack Channel, and they all seemed to be cheering this downfall on the market. What I find as striking here, for two men Obama and McCain that were so puffed up in their support of this "bailout" all I hear now is crickets. So where is this plea for calmness and this will help stabalize the markets. Given the situation recently with OPEC though I don't find this selloff surprising, it's a reason I mentioned it earlier Care. I suppose you can call it my independant I don't like none of the above hat . lol

 

[DavidS]

I find it so hilarious how FoxNews is attacking MSNBC for being biased. HAHAHAH

 

[Care4all]

No, I just woke this morning, and turned on the news, and started channel surfing, and took notice on the National Barack Channel, and then I turned to the Far Right Channel , and then back to the All Barack Channel, and they all seemed to be cheering this downfall on the market. What I find as striking here, for two men Obama and McCain that were so puffed up in their support of this "bailout" all I hear now is crickets. So where is this plea for calmness and this will help stabalize the markets. Given the situation recently with OPEC though I don't find this selloff surprising, it's a reason I mentioned it earlier Care. I suppose you can call it my independant I don't like none of the above hat . lol

hahahahaha! ok, let's call it that!

it is amaizing how nothing can stop the cookie monster, i mean....stock monster....

mccain, obama, the entire congress were sold a hollow bill of goods that they gladly accepted so that congress could continue to have their money....that is what they were in fear of....not being able to get their money from borrowing....sadly....

and i have always believed bailing the homeowners would have done more for the ACTUAL economy than this bank bailout....

thank god we have most of our retirement savings in cd's, but we have lost anywhere from 40-60k in the stock market 401k's, have lost 30% to 40% in our home value of which we paid cash for....

we are feeling pretty DICKED to say it as politely as possible and only have 15 years till retirement for matt....

looks like i wont be a homemaker for long, as we had hoped...

care

 

[Navy1960]

I find it so hilarious how FoxNews is attacking MSNBC for being biased. HAHAHAH

David, these pundits on any network that attack each other makes me laugh, as if any of them have any credentials. Media name calling is just one more example of how much journalism has fallen to the lowest common point in this country. So if it's Fox calling MSNBC names, or MSNBC calling Fox names it's all the same. Fake pundits pretending to be professional journalists.

 

[Navy1960]

hahahahaha! ok, let's call it that!

it is amaizing how nothing can stop the cookie monster, i mean....stock monster....

mccain, obama, the entire congress were sold a hollow bill of goods that they gladly accepted so that congress could continue to have their money....that is what they were in fear of....not being able to get their money from borrowing....sadly....

and i have always believed bailing the homeowners would have done more for the ACTUAL economy than this bank bailout....

thank god we have most of our retirement savings in cd's, but we have lost anywhere from 40-60k in the stock market 401k's, have lost 30% to 40% in our home value of which we paid cash for....

we are feeling pretty DICKED to say it as politely as possible and only have 15 years till retirement for matt....

looks like i wont be a homemaker for long, as we had hoped...

care

I am sorry to hear that and I know the feeling, I took a bath on my 401K as well, but what was left we moved to CD's. My home is paid for and even though it's value has declined 34% since last year I still have a lot of equity position in it. The business , I am in now is heavily dependant on the aviation community which in the United States is not doing so well. I could go on forever about why, but I am in one of those 6 real estate states too that have been flooded with over building and speculation. The number of homes here for sale and just sitting empty is amazing. Now there is a big problem with people using the homes to keep illegal aliens in while they move them around the country. A recent bust here , found 65 people in one house and a little girl who they still don't know who her parents are.

My daughter and I also have a few horses that we love it's one of out passions , but what we have been noticing lately is that people who can't afford them have been taking them out into the desert and shooting them. I was on the 303 the other day and someone stopped and just let a horse go.

I will say this though, have you noticed, that when people panic sell, others build real wealth on the panic selling? Did you notice who recently invested in G.E. recently to the tune of three billion dollars? Warren Buffett and others are quietly buying.

So I do hope that your situatiuon gets better for you and Matt, Care but this may sound like strange advice. However, the best thing if you can hold on in whatever way you can, then it will get better it always does.

 

[WillowTree]

Today on Neil Cavuto, Neal Boortz was on with his opinion that the stock market and Wall Street are reacting to the possibility of this country possibly electing a socialist president.

LiveLeak.com - Boortz on Cavuto Talking Obama & Wall Street

Thanks for the link.

 

[WillowTree]

Of course someone said that on Faux. What else would you expect? It's the typical Republican attack...instill fear in the voters so they'll vote for McCain.

poor old brock, all the rich people are gonna be gone and then we need plan bee.

 

[Care4all]

Neal Boortz is a Libertarian.

it doesn't matter...whoever said it is full of crap and said it for ONLY partisan reasons to try to blame the Bush economy on to the Dems, you should see this clear as day....

this mess we are in in SOOOOOOOOOOOOO SO SO SO SO BIG, this partisan crap trying to blame it on an obama presidency is laughable....