It's More Fun Watching the Stock Market Plunge than Political News

[rollingpig]

The correction would be much gentler if the FED would just get out of the way and let the market do what it desires. I don't ever "root" for the market to crash....unfortunately, many middle Americans will suffer and the wealthy will get wealthier.

BTW- Is Volcker still warming up in the bullpen? Better get that arm loose....

hope we can get through this

 

[ProfNo]

I find it somehow morbid how much enjoyment I get out of watching the market crash knowing that all those sheep out there voting today have no idea what's about to hit them.

really sad actually.

In the end there will be justice. Either the people can demand it, or the market will demand it.

 

[michaelwise]

The correction would be much gentler if the FED would just get out of the way and let the market do what it desires. I don't ever "root" for the market to crash....unfortunately, many middle Americans will suffer and the wealthy will get wealthier.

BTW- Is Volcker still warming up in the bullpen? Better get that arm loose....

Many millionaires have already been wiped out and many more will be also.

 

[grizzums]

Many millionaires have already been wiped out and many more will be also.

That may be true....but don't fool yourself. Many more savvy millionaires will become multi millionaires and multi millionaires will become billionaires. Smart money is way ahead of retail money (minus the few that you see go down and their story plastered on the prop tube)....retailers are for the most part just pawns in their game. Boom and bust economic cycles benefit the rich and not the poor, or middle classes. <-- speaking in generalities here.

 

[Ronin]

Woohoo! Moved all my 401k to cash last night Buying gold and silver tommorrow. Folks this is an opportunity. I'd get out of all markets and the dollar if possible for the next 6 months. At the very least let the oil bourse and dollar peg issues play out in the middle east.

http://www.nwtmintbullion.com/

 

[Jim_Karr]

I want the market to crash. I want our dollar to be worth less than the pesos then maybe just maybe people will wake the fuck up and ask what happened to my life? Well you dumb fucks you didn't vote for Ron Paul you idiots is what happened to your life going down the crapper.

 

[tommy7154]

I want the market to crash. I want our dollar to be worth less than the pesos then maybe just maybe people will wake the fuck up and ask what happened to my life? Well you dumb fucks you didn't vote for Ron Paul you idiots is what happened to your life going down the crapper.

I hate to say it, but I agree. If the economy has to completely crash and burn for people to wake up and realize that something is very very wrong here, then so be it.

 

[Ronin]

I want the market to crash. I want our dollar to be worth less than the pesos then maybe just maybe people will wake the fuck up and ask what happened to my life? Well you dumb fucks you didn't vote for Ron Paul you idiots is what happened to your life going down the crapper.

QFT. I wish the economy would hurry up and end the suspense.

On 16 September 1985, when the Commerce Department announced that the United States had become a debtor nation, the American Empire died.

-Gore Vidal

 

[crazyfacedjenkins]

Schadenfreude is always most delicious when the people bring harm to themselves through their own ignorance and apathy.

http://en.wikipedia.org/wiki/Schadenfreude

My dad always uses that term to describe typical Americans, but I think it describes how I feel about this country... hehehe

 

[Todd]

Should I put my 401K in the surest options?

 

[crazyfacedjenkins]

That may be true....but don't fool yourself. Many more savvy millionaires will become multi millionaires and multi millionaires will become billionaires. Smart money is way ahead of retail money (minus the few that you see go down and their story plastered on the prop tube)....retailers are for the most part just pawns in their game. Boom and bust economic cycles benefit the rich and not the poor, or middle classes. <-- speaking in generalities here.

So true, just a transfer of wealth

 

[michaelwise]

That may be true....but don't fool yourself. Many more savvy millionaires will become multi millionaires and multi millionaires will become billionaires. Smart money is way ahead of retail money (minus the few that you see go down and their story plastered on the prop tube)....retailers are for the most part just pawns in their game. Boom and bust economic cycles benefit the rich and not the poor, or middle classes. <-- speaking in generalities here.

You forget the big boys invested in hedge funds that are invested in credit derivatives, over $700 trillion worldwide. Lots of hedge funds are frozen or worthless. Billionaires will be broken, I guarantee it.

 

[michaelwise]

Talk about wealth destruction in the tens of billions in one day;

Dow down 370
S&P500 down 44
Nasdaq down 73

OUCH!

 

[grizzums]

You forget the big boys invested in hedge funds that are invested in credit derivatives, over $700 trillion worldwide. Lots of hedge funds are frozen or worthless. Billionaires will be broken, I guarantee it.

I didn't forget those. There is another side to positions taken on those derivatives that you are referring to.

I never said that segments of wealth won't take hits but most hedgies are called hedgies for a reason....they hedge their bets....moreover they have opportunities to hedge in ways that retailers do not. Are many assets frozen (illliquid) or unable to be properly. valued? Yes. Are there hedge funds that are in trouble because of these bets? Of course. Are some getting even further squeezed by receiving redemptions? Yes. Are their writeoffs occuring in financial institutions? Yes. Are there hedgies that are making money hand over fist by being on the right side of many of those trades...yes.

Can the very wealthy that have much of their money overseas storm in here to buy up cheap assets as the correction continues...with or without the lame attempt by the fed to stall the inevitable? absolutely, along with foreign financial institutions.

Boom and bust cycles benefit the wealthy. It is called wealth transfer. Will our entire economic system collapse? I don't subscribe to that theory.

I am not really disagreeing with you.

 

[syborius]

I find it somehow morbid how much enjoyment I get out of watching the market crash knowing that all those sheep out there voting today have no idea what's about to hit them.

really sad actually.

Yeah, same here. Americans deserve what is coming to them since they did not recognize the best candidate running for the presidency in the last 100 years. Let Rome burn to the ground.

 

[an.old.analyst]

It's so much more fun watching the Wealth Destruction being reined on the majority of stupid voters, losing equity in their homes and stocks. They're not smart enough to vote for someone who can actually fix the root cause of the problem. They deserve it for listening to the MSM. Look out for the huge layoffs coming.

This is one of the most despicable posts I've seen at this forum. Market decline does not result in the loss of wealth, it creates huge wealth transfer, typically from those who cannot afford the loss to those who do not need the gains. This is the destruction of our middle class, which is what keeps elite power in-check.

You are applauding this current economic event because it appears you have some sick wish to punish those who do not understand its true cause or the appropriate remedy. What you, yourself don't seem to understand is that the JOKE is on you as well. And for those that think precious metals will be their savior, think again, for this industry it tightly controlled as well. There is no escape from this...NONE.

Grow some humility and humanity before posting something like this again.

 

[michaelwise]

This is one of the most despicable posts I've seen at this forum. Market decline does not result in the loss of wealth, it creates huge wealth transfer, typically from those who cannot afford the loss to those who do not need the gains. This is the destruction of our middle class, which is what keeps elite power in-check.

You are applauding this current economic event because it appears you have some sick wish to punish those who do not understand its true cause or the appropriate remedy. What you, yourself don't seem to understand is that the JOKE is on you as well. And for those that think precious metals will be their savior, think again, for this industry it tightly controlled as well. There is no escape from this...NONE.

Grow some humility and humanity before posting something like this again.

My joy or sorrow for the crash has no influence over the wealth destruction that is occurring. I may as well enjoy watching it occur, as it is the only thing that will stop our leaders from continually sticking it to the majority of the people. It will be painful as the system crumbles, but it is necessary for the proper repair to occur.

I thank God every day for the real estate crash. Look how many hundreds of thousands of illegal aliens it is putting out of work. Do you think the illegal alien problem would be fixed any other way?

 

[AceNZ]

Here's why the stock market is plunging today, and will continue to plunge for quite some time.
http://www.bloomberg.com/apps/news?pid=20601068&sid=a0n_JYuLxTsQ&refer=economy

The really scary thing in that article is not the service industry contraction. It's been obvious for months now that the US is in recession, in spite of the Wall Street cheerleaders. The scary thing is that services ("non-manufacturing") now represent 90% of the US economy. 90%!

Wealth comes from production. The US is doomed.

 

[grizzums]

My joy or sorrow for the crash has no influence over the wealth destruction that is occurring. I may as well enjoy watching it occur, as it is the only thing that will stop our leaders from continually sticking it to the majority of the people. It will be painful as the system crumbles, but it is necessary for the proper repair to occur.

I thank God every day for the real estate crash. Look how many hundreds of thousands of illegal aliens it is putting out of work. Do you think the illegal alien problem would be fixed any other way?

Happy for the real estate crash because that is the solution for fixing the illegal immigration problem?

 

[grizzums]

The really scary thing in that article is not the service industry contraction. It's been obvious for months now that the US is in recession, in spite of the Wall Street cheerleaders. The scary thing is that services ("non-manufacturing") now represent 90% of the US economy. 90%!

Wealth comes from production. The US is doomed.

True. The only way that it could really be spun that the US was not or has not been in a recession was by calculating GDP growth figures in the USD without taking into effect the loss of value in it (USD), in relation to most other major currencies or even gold for that matter.