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Is the stock market crashing??
by Quirky1 9 Replies latest jw friends
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wha happened?
it's down about 140 points today, I wouldn't consider that a crash
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leavingwt
Stocks closed today at lowest levels since 1997.
http://money.cnn.com/2009/02/23/markets/markets_newyork/index.htm
Here is the one-year chart...
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IP_SEC
it's down about 140 points today, Dont know what you mean by that. Are you talking about the Dow Industrial Average? Thats just one of several index of the stock market.
I wouldn't consider that a crash Havent paid much attention over the past few months eh?
PS: I remember not too long ago when a 140 day drop on the dow would have caused most people to bite their nails.
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Scarred for life
The stock market has been crashing since September. It just hasn't been a straight line down.
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AllTimeJeff
Dude, its been going straight down, its just taken longer then a day....
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Big Tex
2009 is going to be bad. We all knew that in autumn 2008. It's going to be a tough year. Reading and listening to folks there is money out there, lots of it. But some institutions are afraid to use it, either because their debt ratio is too high or they're upside down. There are similarities to the S&L crisis in the mid 80's to early 90's, though granted that was much smaller.
It's going to take some time but things will sort out. Until then, to quote Bette Davis, "Hang on. It's going to be a bumpy night."
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SacrificialLoon
Dude, its been going straight down, its just taken longer then a day....
Rome wasn't burnt in a day!
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WTWizard
A crash is defined as a loss of at least 20% in one day, or a period of 2 or 3 contiguous days. What this is is similar to the 1974 Bear Market--nothing more than a severe bear market. The market went down like this during the last half of 1974, but that was not a crash.
What happened in 1929 was a crash, since the market lost 20% in two days. What happened in 1987 was a crash, since the market lost 20% in one day. To the best of my knowledge, this market did not lose 20% or more inside a few trading days, but in weeks, months--not exactly a crash. But, either way people lost money.
Just wait until the president signs a law requiring people to buy stocks to give them a fake boost. A share of GM, with a market value of zero, will have a legal "value" of $500, and you cannot sell it. AIG will be pegged by law at $500--if they order you to buy it at that price, you have to buy it at that price or get hit with the difference in your income taxes. They will take the money and use it to bail out the CEOs that are running those companies into the ground--this is what happens when CEOs fail to create value for their companies. Then the governments have to artificially give the company stock prices fake value to look good on the world market.
Better to just let them go belly up, and eliminate the red tape so the new companies can pick up the pieces. Unemployment solved, banking crisis solved, crap gas mileage problems solved, high gas prices solved--government regulators belly up.
