The Conservative Cave

Current Events => The DUmpster => Topic started by: franksolich on February 10, 2009, 03:00:30 PM

Title: primitives panicking about stock market
Post by: franksolich on February 10, 2009, 03:00:30 PM: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5024215

This "CoffeeCat" primitive was once the "TwoSparkles" primitive.

Would that by any chance be the sparkling husband primitive's domineering wife?

Or was (is) that the "Sparkly" primitive?

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CoffeeCat (1000+ posts) Tue Feb-10-09 03:25 PM
Original message

So the DOW is down 408 points? Crikey!

Wow, when I left to run errands, it was down arond 200.

I cancelled cable, because I was addicted to MSNBC, so I have no idea what the blathering heads are saying.

Is Geithner being blamed for this?

Is it a total panic?

No, that must not be the sparkling husband primitive's wife, because I can't imagine the sparkling husband primitive living without cable in the bathroom in the basement.

It must be some other primitive.

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LSK (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

1. the Senate passed a bill that might help mainstreet

A big no-no to Wall Street.

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bluestateguy (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

2. We need to close the stock market down for the next 6 months

We don't have time to put up with their unpredictable temper tantrums everytime something happens or someone says something they don't like.

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NJmaverick (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

3. The talk is that Geithner's speech lacked detail which led to a panic of the skittish market.

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underpants (1000+ posts) Tue Feb-10-09 03:29 PM
Response to Reply #3

4. I thought CNN said it was because of TARP which makes about the same amount of sense

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NJmaverick (1000+ posts) Tue Feb-10-09 03:31 PM
Response to Reply #4

6. Geithner's speech was on TARP, how the second half would be spent

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Veritas_et_Aequitas (1000+ posts) Tue Feb-10-09 03:36 PM
Response to Reply #3

9. And then there's the bank stress tests.

Everyone knows there's no way Bank of America will pass a stress test. It's a dead bank.

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MrsCorleone (126 posts) Tue Feb-10-09 03:32 PM
Response to Original message

7. IMO, this is a good sign that Wall Street had their punchbowl taken away.

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GoesTo11 (1000+ posts) Tue Feb-10-09 03:32 PM
Response to Original message

8. What were people expecting that wouldn't have caused a drop?

Some miracle plan? Oh well, another day another month (or two) to work until retirement.

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Veritas_et_Aequitas (1000+ posts) Tue Feb-10-09 03:37 PM
Response to Reply #8

11. They were hoping against stress tests.

Stress testing banks before giving out TARP money will help winnow out the dying banks, including Bank of America.

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Statistical (835 posts) Tue Feb-10-09 03:42 PM
Response to Reply #8

13. Any plan

Geitner talked for weeks about this "bad bank" plan to buy toxic assets.

Then today he reveals this super duper plan.

Problem is he forgot the plan.

within minutes the market realized he had NOTHING. NOTHING but some vague ideas that we had months ago.

The longer he talked the more painful it got.

The market was expecting details today. Hell he postponed the speech from yesterday.

Many believed it was to tighten down the last details.

How will the assets be bought?
How will banks be recapitalized?
How will govt insure banks lend?
How many assets will be bought?
How will the assets be valued?
If private money is used how will the govt attract it?
timeline for setting this up?

On the Mortgage side:

who is eligible for mortgage modification?
Will it be done in Bankruptcy or wills servicers be allowed (and protected) to modify mortgages?
Will govt provide protection if modified mortgages still fail?
How much money is set aside?
Will it involve interest rate reduction and/or principle reduction?
What are the terms?
Does loan need to be current or will those in default be eligible?

There were more "details" in OpEd pieces from 2 months ago in the Wall Street Journal than in Geitner's so called plan.

That kinda spooked the market.

Like is the pilot stepped out of the cockpit and asked the passengers if anyone here knows how to fly a plane.

Geitner is an ass and an idiot!

here is my 2 cent tip (all I got left):

"If you have nothing to say then say nothing. Don't get the attention of the entire world investment community just so everyone is 100% aware you have no f***king plan."

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madrchsod (1000+ posts) Tue Feb-10-09 03:37 PM
Response to Original message

10. this is the first time these guys have faced the fact that they are losing big.

they have been on a big winning streak but now the dealer has a new deck. they are peeing their pants because the cards going against them.

somehow we have been conned into thinking these guys have a clue about what is going on.

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FrenchieCat (1000+ posts) Tue Feb-10-09 03:40 PM
Response to Original message

12. The party is over.

Wall street millionaires are jumping off buildings!

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ixion (1000+ posts) Tue Feb-10-09 03:42 PM
Response to Original message

14. the sooner we get back to real value (a.k.a 'the bottom') the better...

everything between now and then is just so much wishful thinking.

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scheming daemons (1000+ posts) Tue Feb-10-09 03:48 PM
Response to Reply #14

15. How do we know what number represents the "bottom"???

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DU AdBot (1000+ posts) Tue Feb 10th 2009, 03:49 PM
Response to Original message

0bama Rate

1-Minute Poll Excellent or Horrible?
Title: Re: primitives panicking about stock market
Post by: Carl on February 10, 2009, 03:31:21 PM: They have buzz words that they have created definitions for and call themselves geniuses to delude themselves into thinking it is reality.
Title: Re: primitives panicking about stock market
Post by: Rebel on February 10, 2009, 03:35:40 PM: Quote
LSK (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

1. the Senate passed a bill that might help mainstreet

A big no-no to Wall Street.

This guy is a f'n idiot. Wall Street can't FUNCTION without Main Street. All of those investors? Aren't billionaires, you f'n DUmbasses, they're regular Joes with 401K's.

Can someone please explain to me why these idiots just can't get it? It's as if they think Wall Street operates in a f'n vacuum. ::)
Title: Re: primitives panicking about stock market
Post by: Lord Undies on February 10, 2009, 03:36:38 PM: Quote
LSK (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

1. the Senate passed a bill that might help mainstreet

A big no-no to Wall Street.

Oh, brilliant! Just BRILLIANT! You dumbass mofos. "Wall Street" isn't on a solo track to riches. It depends on "Main Street" to keep it going, you slightly-less-than-a-two-cell-brained-organism. "Wall Street" IS "Main Street". That is the average Joe's money, you ignorant selfish socialist pigshits.

You Little David Allen's Goons better get a whole lot smarter real fast. Because when the Fairness Doctoring comes to pass, you freaks, who are safe in your ideological garden, are exposed tainted meat. My friends and I will see to that.

P.S.

Who the hell on the "right" has a mental health thread talking about what drugs for their mental illnesses does what for whom? Get a clue, you rancid souls. You are CRAZY mofos. Mindless idiots. Stunted mental midgets.
Title: Re: primitives panicking about stock market
Post by: Wineslob on February 10, 2009, 04:09:59 PM: Teh stoopid is beyond any level that I could have guessed at. Un-****ing-believeable. :thatsright:
Title: Re: primitives panicking about stock market
Post by: JohnnyReb on February 10, 2009, 04:16:58 PM: Well, nows a fine time for the DUmmies to worry about the stock market. They were all aglow with the down turn that they engineered last summer that was going to carry there sorry asses into complete control. Well here they are... in control. ....a bunch that never even learned to control a tricycle.
Title: Re: primitives panicking about stock market
Post by: LC EFA on February 10, 2009, 04:17:28 PM: Quote
bluestateguy (1000+ posts) Tue Feb-10-09 03:27 PM
Response to Original message

2. We need to close the stock market down for the next 6 months

We don't have time to put up with their unpredictable temper tantrums everytime something happens or someone says something they don't like.

What the ?

Seriously ?

Wow. :thatsright:
Title: Re: primitives panicking about stock market
Post by: jtyangel on February 10, 2009, 04:21:12 PM: Quote from: LC EFA on February 10, 2009, 04:17:28 PM
What the ?

Seriously ?

Wow. :thatsright:

Yeah, no kidding huh? Do they have any idea how many people they would lay off in that process? Just regular folks too who don't make a hell of a lot of money.
Title: Re: primitives panicking about stock market
Post by: BEG on February 10, 2009, 04:37:58 PM: They are even more stupid than I thought.
Title: Re: primitives panicking about stock market
Post by: BlueStateSaint on February 10, 2009, 04:40:35 PM: Quote from: jtyangel on February 10, 2009, 04:21:12 PM
Yeah, no kidding huh? Do they have any idea how many people they would lay off in that process? Just regular folks too who don't make a hell of a lot of money.

And a lot of them have guns. Guess which party they'd be gunning for? Hint: it's the one in control of the House of Representatives, the Senate, and the White House.

Yeah, you'd get your change--real fast, at about 2000 fps.
Title: Re: primitives panicking about stock market
Post by: Lord Undies on February 10, 2009, 05:05:24 PM: Quote from: BEG on February 10, 2009, 04:37:58 PM
They are even more stupid than I thought.

Well, not really. Reward is their enemy. Dispair is their common ally. They are Little Goons, after all.

In their Little World of Utopia, no one is below the riches rich and one was is above the poorest poor. That is the thorn in their side. No one knows how to make socialism work. It's like trying to make water run uphill. Some will gather at the bottom. Not so much will collect on top.

Socialism is against nature. It is against physics. It is against human nature (the most powerful force on earth), and it is against the Law Of Gravity.

Nothing about socialism is compatible with God's creation. It never will be. That is why we normal folks are fighting satan's army. Some of the drug-addled ignorant mofos ( See: DU) never even became aware they enlisted.
Title: Re: primitives panicking about stock market
Post by: The Village Idiot on February 10, 2009, 08:12:30 PM: Quote from: Carl on February 10, 2009, 03:31:21 PM
They have buzz words that they have created definitions for and call themselves geniuses to delude themselves into thinking it is reality.

1. the Senate passed a bill that might help mainstreet

A big no-no to Wall Street

The stoopid is strong with this one
Title: Re: primitives panicking about stock market
Post by: djones520 on February 10, 2009, 08:25:56 PM: Quote from: FGL on February 10, 2009, 08:12:30 PM

1. the Senate passed a bill that might help mainstreet

A big no-no to Wall Street

The stoopid is strong with this one

I wonder if these people have any clue how many lower and middle class people are affected by the stock market? I'm not sure where I technically fit in, but I've got (or at least had) $10,000 worth in assets invested, and I know many in the military have much more then that. These people are so far removed from reality it's not even funny anymore.
Title: Re: primitives panicking about stock market
Post by: BlueStateSaint on February 11, 2009, 05:15:25 AM: Quote from: djones520 on February 10, 2009, 08:25:56 PM
I wonder if these people have any clue how many lower and middle class people are affected by the stock market? I'm not sure where I technically fit in, but I've got (or at least had) $10,000 worth in assets invested, and I know many in the military have much more then that. These people are so far removed from reality it's not even funny anymore.

A good deal of New York State's pension funds, for its State workers, are invested in the NYSE. Last July, I took everything out of the two mutual funds I was in and shifted it to cash. I was still a few weeks too late to avoid taking a shot in the shorts, but at least I didn't wait until now. One young, pretty, conservative woman I know at my former job refuses to leave her mutuals, saying that when things go back up, she wants to ride the wave. Hey, I'm all for surfing, but not in the trough when the tsunami is coming . . .
Title: Re: primitives panicking about stock market
Post by: Wineslob on February 11, 2009, 10:46:02 AM: Quote from: BEG on February 10, 2009, 04:37:58 PM
They are even more stupid than I thought.

BEG, they are "taking the cake". Honestly, could not have guessed they could be this stupid. It's scary that these people are in charge.

Stoopid to infinity.
Title: Re: primitives panicking about stock market
Post by: Karin on February 11, 2009, 10:47:05 AM: I know, shutting down Wall Street for 6 months.....Millionaires jumping off of bridges. Unbelievably stoopid. I thought Statistical had some decent remarks. Has he been banned yet?

Geithner the genius....we just had to have this tax cheat because he was such an einstein. Dow up 64 points. yay.
Title: Re: primitives panicking about stock market
Post by: jtyangel on February 11, 2009, 10:57:24 AM: Quote from: Karin on February 11, 2009, 10:47:05 AM
I know, shutting down Wall Street for 6 months.....Millionaires jumping off of bridges. Unbelievably stoopid. I thought Statistical had some decent remarks. Has he been banned yet?

Geithner the genius....we just had to have this tax cheat because he was such an einstein. Dow up 64 points. yay.

I've always thought they have some simplistic "Wall Street"(the movie) vision of what they think Wall Street is. I don't think they've actually even stepped into a firm that deals in investments. There is no way they have if they think like they do. It's a very foolish, Hollywood version of how things really are in that industry. Stupid is right.

I think I'm actually going to save that thread to send to all my friends I used to work with and the other half. I'm sure they will all enjoy their status as millionaire elites about to jump off the top floor of their offices. :whatever: I'm sure they will all appreciate the idiots over there damaging their industry even more with their nationalized vision of utopia.
Title: Re: primitives panicking about stock market
Post by: Peter3_1 on February 11, 2009, 12:06:57 PM: Last I checked there was a Tokyo , Hongkong, London Chicago etc exchange. All causing Wallstreet would do is shift the trade out of NYS. NYS, as you know, has lost , even before recession, many many Mfg. jobs. NYS is butt deep in debt. NYS is millions and millions SHORT in the income tax area because of this recession. Closing would break NYS , my home would be WORTHLESS, as would millions of others. The state would IMPLODE as would the nations ecomony, making the current recession look like a baby's burp.

Worse yet, another market would open somewhere else, and THEY'D become vastly wealthy on the stock trade. Capital will ALWAYS go here it is welcomed and leave where it is abused. As would anyone with any sense whatever.
Title: Re: primitives panicking about stock market
Post by: crockspot on February 11, 2009, 12:12:31 PM: Ad Bot is my favorite DUer.
Title: Re: primitives panicking about stock market
Post by: delilahmused on February 11, 2009, 01:05:46 PM: Quote from: crockspot on February 11, 2009, 12:12:31 PM
Ad Bot is my favorite DUer.

I'm almost convinced Ad Bot is frank's mole.

Cindie
Title: Re: primitives panicking about stock market
Post by: jukin on February 11, 2009, 03:31:38 PM: As opposed to world temperature and CO2 there is a 1:1 correlation to obama being selected to the presidency and the stock market losing 45%.
Title: Re: primitives panicking about stock market
Post by: The Village Idiot on February 11, 2009, 10:51:31 PM: Quote from: Wineslob on February 11, 2009, 10:46:02 AM

BEG, they are "taking the cake". Honestly, could not have guessed they could be this stupid. It's scary that these people are in charge.

Stoopid to infinity.

DU intelligence on a steep downslope
Title: Re: primitives panicking about stock market
Post by: zeitgeist on February 12, 2009, 10:13:19 AM: Then you have those who want to put the proletariat back to the fields like Hillarybob here:

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HillbillyBob (505 posts) Tue Feb-10-09 03:57 PM
Response to Reply #12
17. Good thing I have a certified "Doormans Extra Heavy Duty, Double Ribbed
Edited on Tue Feb-10-09 04:09 PM by HillbillyBob
With Extra Reinforced Umbrella" guarenteed to stand up to falling Wall Streeters, Seattle Rainstorms and Nukulur Foolout.
Then I moved far far away to Mayberry!
Edit Excuse me for kind of losin it here..after the last 30 years, health problems on and on and on. My personal finances have been crapped out since about 1990 and then got worse after amBushco stole the elections then kind of down hill from there.
We finally find a home we can afford and the rest of the economy takes a dive..
I have been wondering just how long the debt and deficits cycle can last until the country's economy falls apart.
I predicted a fall to 6500 about 5 years ago and that this mess would actually hit 9 months before it did. When I did that I was speaking to an acquaintance that was a retiring investment attorney / banker who got out and predicted a bigger crash to about 5000 but starting when it did...
I don't think we are at the bottom.
I got a lot of bad mouthing for my Doom and Gloom and advising folks to stock up on seeds and dry good. You can grow food most anywhere, but you need water and dirt...
We did move to 'Mayberry' actually about 50 miles east of Mt Airy(Andy Griffith's home town). I am glad we did get away from the cities. Veggies taste much better if you have grown them.
It seems to me that we have ignored the economy and environment much too long, perhaps even so long that there is no fix.
We do need a paradigm change...maybe we will buckle down and do it. I know we have.

Now what is so familiar about this? China, um, Communist agrarian reform, gee I just can't seem to remember. Say don't they round up all the beautiful people first in those programs?

Greedy liberals, they only want to steal from Wall Street to re-pave Main Street not realizing that in the process they will eliminate the car and thus the need for it in the first place.