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| runner140 | Good morning.... | ||
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Master Guru
 
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Banks are tightening lending standards for businesses and consumers. Looks like the credit crunch in spreading.
Moodys ( rating agency) is considering changes in how it rates mortgage bonds and other credit instruments. They are including warning labels. Bush presented a 3.1 trillion budget to congress yesterday. Looks like a big fight over this one. Obama and Clinton raced through the last hours before super Tuesday. If you live in one of those states, get out and vote.(24 states) The Dow fell 108.03 yesterday. Blamed were downgrades of financial firms. The lead story in the Wall Street Journal today is "issues recede in 08 contest as voters focus on character". Have a great day. |
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Posted on: 2008/2/5 12:28
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| JrRifleCoach | RE:Good morning.... | ||
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Elite Guru
 
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Any bad news?
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Posted on: 2008/2/5 15:18
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| runner140 | RE:Good morning.... | ||
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Master Guru
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Any bad news? Looks like most of the bad news has hit today. Dow down over 200 points. Gold down 18.60 and oil under 90 (88.18) I'm Looking for any good news I can find. |
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Posted on: 2008/2/5 15:26
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| TommyT-Bone | RE:Good morning.... | ||
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Chair-man of the bored
 
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The good news is you only have to live one day at a time.
For today, everything looks just fine. |
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Posted on: 2008/2/5 16:23
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| runner140 | RE:Good morning.... | ||
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Master Guru
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About 20 minutes ago, the Dow was down 319 points, not its only down 266. Yea, thats good news. :thumbleft:
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Posted on: 2008/2/5 19:39
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| CentralCoaster | RE:Good morning.... | ||
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Senior Guru
 
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I love a bad stock market. Because it means all those leaches (ie, day traders) who don't work for their money, don't get any money. Sort of like the recent housing crunch. The people hurt by it were investors/speculators, and greedy overextended homeowners. In other words, people who were financially reckless got what they deserved. I lost value on my house too, but it doesn't hurt me because I can afford what I signed up for.
A family that has a steady income (not relying on capital gains) and living in a house within their means (not a risky loan) will not be significantly affected by such things. Or maybe I'm full of shit, not sure yet. I'm not much of a consumer. |
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Posted on: 2008/2/5 19:56
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| TommyT-Bone | RE:Good morning.... | ||
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Chair-man of the bored
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Or maybe I'm full of shit, not sure yet. I'm not much of a consumer. Tell them that at the parts counter. |
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Posted on: 2008/2/5 20:58
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| pianoguy | RE:Good morning.... | ||
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Guru Emeritus
 
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Quote:
I love a bad stock market. Because it means all those leaches (ie, day traders) who don't work for their money, don't get any money. Sort of like the recent housing crunch. The people hurt by it were investors/speculators, and greedy overextended homeowners. In other words, people who were financially reckless got what they deserved. I lost value on my house too, but it doesn't hurt me because I can afford what I signed up for. A good trader makes plenty of money in a down market. Trading is hard work - not physically, but if you don't have the right mental discipline, you will lose your ass. |
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Posted on: 2008/2/5 21:10
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| TommyT-Bone | RE:Good morning.... | ||
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Chair-man of the bored
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I remember back in the days when I didn't have anything. The ups and downs of the stock market and interest rates didn't have any bearing. When you're broke you don't win or lose. You still have the nothing that you started with. Last June or so I dumped most of my investments into the G fund. Right now I'm about 85% bonds 15% in the market. I'm not making double digit gains but I'm not losing anything either. I have some cd's and some real estate. A mixed portfolio is healtheir than putting all your investment eggs in one basket. This is all just a temporary downward trend, an adjustment. Pretty good horizon to pick up on a foreclosure. You can make the bank an offer. If they take it ,great. If they don't, keep on hunting.
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Posted on: 2008/2/5 21:14
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| Oaklands | RE:Good morning.... | ||
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Senior Guru
 
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I have the basket, now all I need is some eggs! :tongue:
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Posted on: 2008/2/6 1:14
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If duct tape or baling wire won't work, it can't be fixed! |
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