Posted by OR on 11/6/08 1:11pm
Msg #269125

Stock market

The Stock market dropped 500 points yesterday. The largest drop in history after a New Person was elected President. Today the Stock Market is dropping even more. I don't think the Stock Market has hope. The Market has out wiped of 40 years of growth. All during this election. I pray for my children and grand children. Unemployment at a 25 year high.

Reply by Scamp/AZ on 11/6/08 1:18pm
Msg #269127

Yes the market went down yesterday and it is down today. Dwelling on the negative side will not get it to go up. We have a new president and a new day. Every American should be thankful that we are such a great country. If all of us get behind our newly elected officials and let them know what we want, it will happen. Positive outlooks create positive things, and, negative outlooks will produce just that NEGATIVITY. JMHO

Reply by sue_pa on 11/6/08 1:37pm
Msg #269129

...Every American should be thankful that we are such a great country.... Agree



...If all of us get behind our newly elected officials and let them know what we want, it will happen. ... Well since 'what we want' differs from house to house, I'm guessing it WON'T happen.

Reply by desktopfull on 11/6/08 9:01pm
Msg #269174

Did you really expect the wealthy of this nation to stand idly by and let the new incoming Democrat vote to take whats left of their money with the promised exhorbitant punitative taxes? They didn't make their wealth by being stupid or lazy. They are taking what's left and moving their capital into shelters before the government can take it from them. It should have been expected and probably was, but the MSM wasn't about to publicize this negative aspect of the new government's plan. Congratulations to the Dems, now they actually have to wake up and smell the coffee, or you could say, they have to face the reality of their tax promises, the money won't be there for them to take for their tax-fare checks.

Reply by lindab on 11/6/08 3:44pm
Msg #269141

I have lost a lot in my retirement portfolio within the last 9 months or so BUT....I truly believe that this great country will bounce back if we all sit tight. Everyone needs to let their local as well as state governments know what "we" the common people want and need. Sometimes just dicussing it at the dinner table doesn't have the same affect as actually letting our elected officials know what we are saying at the table. Obama is the change that we need. Government needs to be held accountable for everything they do since we are paying for all of it in some form or another.

Reply by Lee/AR on 11/6/08 7:05pm
Msg #269162

Look at it this way:

It's a SALE! Stocks are selling at 50% or more off the original sticker price. Houses? 2 for 1 or buy 1, get 1 free.
That being said, experience, knowing what you're doing and caution are still the name of the game. This is no place for a novice.

Reply by Stamper_WI on 11/6/08 4:47pm
Msg #269150

Not from election

But 2 reports on Unemployment that came out this week. The Labor Department reported that the number of people continuing to claim unemployment benefits surged 122,000 to 3.84 million in late October, making it the highest level seen since 1983 when the nation was trying to recover from a prolonged recession.
If you look at election day, it closed up 305.

Reply by JanetK_CA on 11/6/08 6:15pm
Msg #269157

Re: Not from election - So right!!

Not only that, there were several earnings reports that came out not looking too good, if I recall. Besides, most experts will tell you that the impact of the election had already been taken into account. Most of the time, the markets react to what they expect to happen rather than what has happened. If something, like earnings reports or major indicators of various stripes (like unemployment or productivity, etc.), come out lower than expectations, then that will likely have a negative effect on individual stocks and/or the market as a whole.

Reply by Stamper_WI on 11/7/08 7:57am
Msg #269205

Unemployment figures

14 yr high at 6.5%
240,000 jobs lost in Oct
Sept figures have been revised way up to 280,000. I think they were around 160,000

Reply by MikeC/NY on 11/6/08 5:21pm
Msg #269153

The sky is not falling

"The Market has out wiped of 40 years of growth."

How do you figure that? The Dow Jones average (which is what had that 500 point drop you're referring to) didn't even break 1000 for the first time until 1972, and didn't break 8000 until 1997. Even if you look at broader and more realistic indexes like the S&P 500 or the Russell 2000, the market is taking a pounding but is still at a higher level than it was 10 years ago.

"Unemployment at a 25 year high. "

Not exactly accurate. In terms of actual numbers, yes it's higher. But 25 years ago there were less people in the work force, so you're comparing apples and oranges. What you have to look at is the unemployment rate, which is a percentage. We're not even close to what it was 25 years ago (over 10%).

Your best bet is to just stop reading or listening to the financial news - it will just drive you crazy, and there's nothing you can do about it anyway. The stock market has always been cyclical; we're in the midst of a severe down cycle, but smart people realize that this is the time to buy into the market (carefully) rather than sell out of it. The economy and the market will recover eventually; it's just going to be a rough ride until that happens.

Reply by LisaWI on 11/6/08 7:04pm
Msg #269161

Re: The sky is not falling

Also, the market will have to experience some down turn in order to go back up. In a sense, it will have to hit bottom and no one seems to be able to predict when that is. Some say this is a necessary evil for the market to achieve a balance again. What the market is doing right now is natural and it will revive. Kind of like our business right now, alot of the bad comps are being pushed out and the good ones will stay afloat, well, so are the comps that are listed in the market. The strong will survive, come out ahead and the smart investors will figure out who these comps are and start buying again. It just has to take its course.

Reply by OR on 11/6/08 7:53pm
Msg #269166

Re: From my heart with Love (my rant)

I agree to a point. I think that if you find your self unemployed with a lot more people just like you it matters. If you worked I give 36 years and you 401 now is worth 1/3 it was. And you were working to leave a large Working market and Strong inheritance for your children those days for us are wiped out for us that are Short to retire. I worked to leave a Strong Country for my Children and Grandchildren. I have just a few years left so its impact on me is minimal but those in there 20's 30's and even 40's will be hit the hardest.
Mike wrote his figures out beginning from 1972. I just started working which is 36 years ago. OK I am old. My children may be as old as some of you. I have the history to know how long it took to get things a good as we did. One of our goals was to leave a Healthy Economy to our Children so they could leave a great country to there children now we wait for bail outs. I am sad to see as I leave the work force in a few years that my Children will not have the same Country as I did to give there children today and tomorrow. I know you have hope in this new President. But my children had the faith in there Parents to take care of them and them did, while they went out a played. Those are going to be the Good Old Days. My Grandchildren don't know if there Parents will have Jobs tomorrow. I once a week teach Good News at a local School and the children there ask us every day to pray for there Parents because they lost there Jobs. They are the same ages of my Grandchildren. My Generation is worried about Our Nation and Our Children and Grand- children. Our children are waiting for the Government to help. We never needed to worry about help we just went and got a job. I can not tell you how in 1 year this country lost so much but it did. The Wealth of this country has suffered a great loss that will not be coming back. The wealth that funded job growth when I (WE) invested my money in American Company's (Corporations). It was my Children's Inheritance of the 20-30-years old generation. I love our Country and worked hard to grow it to what is was. Today I am say to see a lot of it gone. Thank you for listening to my rant. Love a lots Love My Country Lots we will see. From the Other side that lost a life time of hard work and the Inheritance of our Children.