DOW lost $1.2 Trillion in Net Worth!

[rp4prez]

Holy capers Batman that's a ton of money!

Just heard it on CNN. Wow!

 

[constitutional]

It's all good, right?

 

[hypnagogue]

Hmm isn't that about what they said the net loss of value on those mortgage backed securities was?

 

[Trigonx]

and what exactly was the purchasing power of that $1.2 trillion lost. I was watching NBC nightly news and they also quoted the $1.2 trillion loss and how it was 50% higher than the proposed $700 billion bailout. The people own the same % of the companies they held before it dropped, the market is just deflating to its true value.

Basically my point is, the number they pulled out and used is bullshit numbers to make it look like the bailout was a better deal and to give the taxpayers cognitive dissonance.

 

[Cowlesy]

Be scurred!

 

[HOLLYWOOD]

it's nothing... the market is wher eit was at months ago... anyway all the stock is over inflated... LIKE ALL GOVERNMENT BUDGETS.

about time for corrections and there needs to be a few more trillion out of the SLOT Machines and Craps Tables on WALL ST!

 

[RSLudlum]

Be scurred!

Oh yeah and the media has been continuosly running the banner "Dow losses most points in history!!!" without even putting it in reference to the actual percentage loss ... Amazing, Amazing

 

[Dequeant]

No it didn't. It was cleared of 1.2 trillion in "false wealth".

They don't call the people who hold them "paper millionaires" for nothing.

 

[angelatc]

What's good for the economy has very little to do with what's good for the stockholders.

 

[RSLudlum]

Well, well, well.... the asian market is down 544 right now

 

[Paulitician]

No it didn't. It was cleared of 1.2 trillion in "false wealth".

Lovely way of putting it. You're right. People don't realize the stock market still has a ways to correct, bailout or not. Just watch as the bailout is passed this or next week, and we have a severe market crash in October or November. You can't reinflate a bubble that's bound to burst, unless you hyperinflate, but then what good is that? The money ultimately becomes worthless at that point.

 

[misericordia]

unless the point is to make $ worthless.

 

[haigh]

Holy capers Batman that's a ton of money!

Just heard it on CNN. Wow!

And how much aggregate purchasing power was gained today by the strengthening of the dollar?

 

[eric_cartman]

are you sure it was the DOW? because the DOW is only like 30 stocks or something... i think it was another index that measured 5000 stocks