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Market Crash (Page 10)
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Professional Poster
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Oct 9, 2008, 11:30 AM
 
Does the mattress pay interest?
     
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Oct 9, 2008, 11:44 AM
 
Mine does. It's magical.
     
Clinically Insane
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Oct 9, 2008, 12:30 PM
 
I just bought 550 shares of Fannie Mae. Hopefully it'll be $20,000 in 3 or 4 years. I figure it's worth the gamble at only a buck a share. I woulda gotten it at 20 cents but you guys convinced me not to buy it.
"…I contend that we are both atheists. I just believe in one fewer god than
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you will understand why I dismiss yours." - Stephen F. Roberts
     
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Oct 9, 2008, 12:49 PM
 
Originally Posted by Mithras View Post
Does the mattress pay interest?
Yeah it does but I dunno if I'm allowed to explain how exactly without getting banned for lewd & explicit text.

-----------------
here's the live graphs again now that we're on a new page:




AAPL in Blue

"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it!"
- Thomas Paine
     
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Oct 9, 2008, 01:37 PM
 
Originally Posted by RAILhead View Post
For a savings account yes -- but if that's where you're investing, then you're screwed. Your gains in interest won't offset inflation, and in 10 years, you'll owe yourself money.
It's not an investment, it is a holding place until things stabalize a bit.

The markets sure aren't helping the majority of investors right now, so where do you think is a good place to be investing right now? And please don't say real estate.
     
Clinically Insane
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Oct 9, 2008, 01:59 PM
 
In case anyone was wondering why Apple's stock jumped.

"…I contend that we are both atheists. I just believe in one fewer god than
you do. When you understand why you dismiss all the other possible gods,
you will understand why I dismiss yours." - Stephen F. Roberts
     
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Oct 9, 2008, 02:50 PM
 
Originally Posted by torsoboy View Post
It's not an investment, it is a holding place until things stabalize a bit.
:o
Define stabilize. If you mean the US Dollar become worth zero and is replaced by the Amero then you may only have a few years to wait. I you mean for the dollar to stop devaluing and maintain a stable rate like in pre 1972 days then it will never ever happen. The men who run this country have told us unequivocally what they plan to do with the US economy and unless everyone decides to find out for themselves what that is and takes action against it then the only variable left open to question is the scheduling - the when of it. Unfortunately no one even seems to care. Everyone just wants to sit in their lazy-boy and believe what fux news tells them. Holding to that and thinking that things will stabilize is delusional if not self-destructive.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it!"
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Oct 9, 2008, 04:18 PM
 
Holy crap did the Dow drop at the end of the day.
     
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Oct 9, 2008, 04:34 PM
 
Yeah. I was checking in on it throughout the day and it was doing ok, not far up and not far down, but then the bottom fell out near close of business.
     
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Oct 9, 2008, 05:03 PM
 
Originally Posted by torsoboy View Post
It's not an investment, it is a holding place until things stabalize a bit.

The markets sure aren't helping the majority of investors right now, so where do you think is a good place to be investing right now? And please don't say real estate.
I invst for the long haul because I don't plan to be working when I'm in my 50s, so, when "the bottom drops," I buy a crap-load more of the stocks I'm already in. I'm wholly confident things will make an upturn in the future, and when they do, I'll just own that many more shares in all the funds I have holdings in.
"Everything's so clear to me now: I'm the keeper of the cheese and you're the lemon merchant. Get it? And he knows it.
That's why he's gonna kill us. So we got to beat it. Yeah. Before he let's loose the marmosets on us."
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Oct 9, 2008, 05:12 PM
 
Wow, worst year for the Dow and S&P since 1937. Any way you slice it, that's remarkable.
     
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Oct 9, 2008, 05:30 PM
 
The news is coming in that an estimated five million fraudulent mortgages are held by illegal immigrants. If you figure that the average national mortgage is $184,000, and then guess that illegal immigrants take out mortgages worth roughly half that, the total amount of fraudulent mortgages held by illegal immigrants is in the ballpark of half a trillion dollars.

Of course, anyone who points this out is given the knee-jerk label of "racist," but some things do have to be reported.
     
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Oct 9, 2008, 05:50 PM
 
This is not the PL, so let's keep that stuff there, eh?
     
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Oct 9, 2008, 06:26 PM
 
Originally Posted by Kerrigan View Post
The news is coming in that an estimated five million fraudulent mortgages are held by illegal immigrants. If you figure that the average national mortgage is $184,000, and then guess that illegal immigrants take out mortgages worth roughly half that, the total amount of fraudulent mortgages held by illegal immigrants is in the ballpark of half a trillion dollars.

Of course, anyone who points this out is given the knee-jerk label of "racist," but some things do have to be reported.
I do believe that illegals were given mortgages, hell, Im related to one of them, but 5 million? Ya gonna havta provide a darlin' lil' source for us, dontcha think?
     
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Oct 9, 2008, 08:13 PM
 
Originally Posted by Mithras View Post
This is not the PL, so let's keep that stuff there, eh?
Can't really do that, but it's a noble goal. Giving illegals mortgages and securitizing them is a fact of life, and extremely relevant, political or not. The idea that everyone should be able to buy a home (or big screen TV or car or whatever) at any time is what got us here. That, plus a healthy seeding of fear and doubt from corporate media.

I don't know of any way you'd be able to add up how many illegals got loans, because loan documents are private and many of the bad loans we're talking about didn't require a bunch of documents in any case. (Heck, Golden West didn't qualify borrowers, it was qualifying property. That's some scary shee-ite there). So, is there a place which shows this written down on, say, B of A's balance sheet? Nope. Not yet at least.

According to my loan officer when we bought our house in 2005, every fourth or fifth loan he made was "zero doc" and that was OK with B of A (or whoever ultimately bought the loan). Interestingly, he had been hired specifically because he spoke Spanish -- until some time in 2003 or 2004 he had been a social worker. He moved on to WaMu right after our deal, to help train other loan officers (I found out later). Other, Spanish-speaking loan officers.

But, if I say anything like this I must be a racist.

The spiral in the market is related to this, to be sure. We may never know to what extent, but from what I've seen in Calif. especially (probably in AZ and TX too) there is a problem with finding "qualified" borrowers.
( Last edited by finboy; Oct 9, 2008 at 08:19 PM. )
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Oct 9, 2008, 08:16 PM
 
You can be so courteous as to start a thread in the PL about illegals getting mortgages, if you really want to discuss it.
     
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Oct 9, 2008, 08:48 PM
 
You know it's bad when discussions in high school hallways are centered on the market.
     
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Oct 9, 2008, 08:58 PM
 
Originally Posted by finboy View Post
Can't really do that, but it's a noble goal. Giving illegals mortgages and securitizing them is a fact of life, and extremely relevant, political or not. The idea that everyone should be able to buy a home (or big screen TV or car or whatever) at any time is what got us here. That, plus a healthy seeding of fear and doubt from corporate media.

I don't know of any way you'd be able to add up how many illegals got loans, because loan documents are private and many of the bad loans we're talking about didn't require a bunch of documents in any case. (Heck, Golden West didn't qualify borrowers, it was qualifying property. That's some scary shee-ite there). So, is there a place which shows this written down on, say, B of A's balance sheet? Nope. Not yet at least.

According to my loan officer when we bought our house in 2005, every fourth or fifth loan he made was "zero doc" and that was OK with B of A (or whoever ultimately bought the loan). Interestingly, he had been hired specifically because he spoke Spanish -- until some time in 2003 or 2004 he had been a social worker. He moved on to WaMu right after our deal, to help train other loan officers (I found out later). Other, Spanish-speaking loan officers.

But, if I say anything like this I must be a racist.

The spiral in the market is related to this, to be sure. We may never know to what extent, but from what I've seen in Calif. especially (probably in AZ and TX too) there is a problem with finding "qualified" borrowers.
Victim.

Seriously though,... link? study? estimate? All I know is that the number is at least 1.
     
Clinically Insane
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Oct 9, 2008, 09:02 PM
 
Originally Posted by Mithras View Post
Does the mattress pay interest?
In a deflation, yes.

-t
     
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Oct 9, 2008, 09:03 PM
 
Originally Posted by Dakar V View Post
Holy crap did the Dow drop at the end of the day.
Yep, and we haven't seen anything yet.

-t
     
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Oct 9, 2008, 09:05 PM
 
Originally Posted by turtle777 View Post
Yep, and we haven't seen anything yet.

-t
Exactly.
     
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Oct 9, 2008, 09:09 PM
 
Originally Posted by turtle777 View Post
Yep, and we haven't seen anything yet.

-t
It wasn't the fact that it dropped that was surprising, so much as it suddenly capitulated in the last hour of the day.

But thanks for stopping by.
     
Eug
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Oct 10, 2008, 10:25 PM
 
Oprah is as big as a car company

October 10, 2008 GM Nearing a Penny Stock

The market value of General Motors (GM) now stands at $2.7 billion, which is less than it was in 1929. By contrast, according to Forbes, Oprah Winfrey has a net worth of $2.5 billion. She also has a better book club.




     
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Oct 10, 2008, 11:11 PM
 
No wonder the world is going to hell in a handbasket.
     
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Oct 16, 2008, 03:45 AM
 
oops... Nevermind.

Sorry. :-P
( Last edited by Tesselator; Oct 16, 2008 at 08:53 PM. )
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