Do you think the 4,000 point loss in 'DOW-JONES' just a liquidation of assets in advance of McCain losing?
Exactly one year to the day,the Dow hit its highest point ever. Since then,it has fallen 4,000 points.
It looks like the neo-cons could see the handwriting on the wall that their 'guy' was not gonna beat the Dem's. They were just getting out while the getting was good. We've been RIPPED OFF!
- -RKO-Lv 71 decade agoFavorite Answer
The stock market is nothing more than a crap shoot....a giant Monopoly game....a roll of the dice, just like Vegas.
The only difference is that the greedy hedge fund speculators, incompetent bankers, swindling mortgage lenders and arrogant investment brokers get a 'bail out' from American taxpayers to ensure a soft landing when the worst economic depression in U.S. history strikes (I personally predict it will happen by October, 2009).
Meanwhile, these wealthy miscreants get a soft landing and "we the people" get the shaft. $700 billion in 'bail out' money will NOT solve this economic crisis. Our elected officials and government bureaucrats don't have a clue as to what to do, so they keep applying bandages to a severe head wound that keeps hemorrhaging blood. Consider this:
a) In the past few months "we the people" have spent $11.3 TRILLION dollars to bail out IndyBank, Fannie Mae, Freddie Mac, AIG, and countless other recklessly mismanaged companies by handing them corporate welfare checks;
b) "We the people" have also been handed a $9.7 TRILLION bill for an unconstitutional, illegal, immoral 'war' against another sovereign nation that in no way threatened, provoked or attacked the United states;
c) "We the people" now our on the hook for another $700 BILLION to salvage the financial industries from their own avarice;
d) Last weekend insipid government officials quietly gave away $25 BILLION of taxpayers' money to help ailing auto manufacturers;
e) That totals - KA CHING! - $21,725,000,000,000.00 in taxpayer giveaways! For that kind of money, we could provide first-class education for every American student. We could finance a health care system that would allow any legal U.S. citizen to walk into a hospital and receive first-class medical attention, regardless of their ability to pay. We could help virtually every single American who is sick, elderly, poor, disadvantaged, underprivileged, disabled, hungry or homeless. We could fund effective rehabilitation services for our drug addicts, pedophiles and prisoners. We could rebuild our crumbling infrastructure, repair our deteriorating school buildings, give every American student from poor or low-incomed families a free college education, prop up the failing Social Security system to help all those over age 70 who have no financial resources or assets, We could help give single mothers and poor families assistance so that they could become productive citizens. We could provide counseling for rape victims, abused spouses, mentally ill patients and soldiers suffering from PTSS. We could ensure that every soldier who served in our countless immoral 'wars' receive a generous pension for his or her service to the country. AND, we'd still have TRILLIONS left over to pare down the massive government that wastes our money and defrauds the taxpayers;
e) When Lee Iaccoca asked taxpayers for $1.3 billion to bail out Chrysler Corporation, he and his executives took $1-per-year salaries (plus stock options) until that debt was fully repaid. Have any of the bankers, speculators, investment brokers or mortgage lenders agreed to such sacrifice? NO! The government allows them to keep earning their lavish salaries with a 'cap' that affords them no more raises or bonuses; the government has 'limited' golden parachutes, but doesn't demand that these cretins give American taxpayers title to their mansions, limousines, yachts, country club memberships, private jets, helicopters, stock portfolios, offshore bank accounts, art collections or lavish vacation resort homes. So the bas*ards who burglarized America's middle class gets to keep all the proceeds from their malfeasance.
Yes, we've been RIPPED OFF; this is the worst scam ever perpetrated against American taxpayers. What 'big business' leaders have done out of sheer greed and hubris deserves to punished as a criminal offense - and these criminals deserve to spend the rest of their lives in prison (and not some 'country club' facility - but the kinds of jails the poorest of our poor live in). -RKO- 10/06/08
- 1 decade ago
No, the liquidation will not start till after the election. If Obama wins, then the fire sale starts. You will see the alot of money leave the stock market. You think the economy is bad now, you haven't seen nothing yet.
But now there is a lot to contribute to the downturn in the Dow, first is the oil price spike, then the sub-prime meltdown, and then the world economy falling apart. Yes we are not the only country in trouble, it is worse in Europe. The problems we are experiencing are caused by government interference in the free market, (Making banks give loans to unqualified borrowers), lack of oversight (watching banks do bad stuff, and not stopping them ie... Fannie Mae and Freddie Mac).
Just blaming the Reps would not be fair cause the Dems have just as much fault. Look at Banrey Frank, Chirs Dodd, and Nancy Pelosi. Even Obama has a hand in this (ACORN).
- 1 decade ago
Honestly no, as that would require some degree of rational thought by investors and there is just no rationality in the stock market now nor has there been any for decades. It is hard to take something as being rational when a company posts a modest profit that is better than last year's but below some Wall Street expectation and the stock promptly goes DOWN or when you have a company posting its third year lost and the stock goes UP (a case with many dot com companies).
- LauraLv 51 decade ago
No, I think there is a genuine crisis in our economy. Tax breaks for major corporations have caused a lot of companies to engage in unethical business practices. Normally, such companies would just go out of business, and their competitors would take over. But we've allowed corporations to get so big and powerful, the government actually had to spend $700 billion of our tax dollars to bail them out, because otherwise our economy would collapse, and we'd have another Great Depression. I don't like it, I think it's unethical, but I dislike the alternative even more.
Even if there weren't an economic crisis in the making, the stock market fluctuates all the time. What goes up must come down, and it this case it was Dow's stock prices.
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- KenLv 71 decade ago
We have been!
Here’s what happened: banks, realtors and unscrupulous mortgage companies sold their products like predatory car salesmen taking advantage of the homebuyer like a mugger takes advantage of a victim. It’s a good analogy – these instruments were lemons. It’s as close to an evil system as ever existed. How was this permitted? Deregulation!
The $700 Billion Bailout was an unnecessary act, the financial analog of the patriot act. Further, like then, they put forth a false dichotomy. There were other solutions.
Deregulation is directly responsible for this crisis. Giving $700 Billion to the same miscreants who got us into this mess and managed by the same administration that gave billions to Oil and wrote a “no negotiation” clause in Medicare Part D is an absolutely atrocious idea.
It’s not a bailout. It’s a handout
- 1 decade ago
I think you are right on target. Anyone who has a brain and knows the Demo's track record and what they want to do to America, especially Obama, is probably preparing to move to Costa Rica and take their assets with them. Socialization is the goal of Democrats even though history and current conditions in European countries, including Great Britian show it just DOES NOT WORK. Yes, people are liquidating while the liquidating is good!
- Anonymous1 decade ago
But it was Obama and DEMOCRATS fault! Obama taught ACORN and supported the bad loans to give to the jobless and criminals etc. Democrats are the ones who BLOCKED regulation against Fannie Mae where this began! Even SNL skit told that story- TRUE! Then Pelosi thru a fit and made SNL ban the skit!
McCain will put OBAMA in his place tonight!
- 1 decade ago
With the taxes that Obama wants to put into place it would be wise to get your stock market profits now....
At least if you take them now, you won't be paying 1/3 of it in taxes.
- Anonymous1 decade ago
Check the foil in your hat.