Tomorrow could be a historic day......and not the good kind (2 Viewers)

[Betsy]

THE SKY IS FALLING!!!!! THE SKY IS FALLING!!!!!

The people that panic today are the people that will lose.

 

[Furor]

Contrary to what the talking (or screaming) heads in the media would have you believe, this isn't the first time we've been in a recession. Markets are cyclical, after all.

Slow down...we're not in a recession yet.

A recession is six consecutive months of negative economic growth. At most, December 2007 would be our first month, so we wouldn't know until sometime in June 2008 if, by the end of May 2008, we'd been in a decline for six straight months. So no matter what anyone tells you, we can't know if we're in a recession yet.

 

[4saintspirit]

What goes up must come down -- isn't that some sort of universal law of physics -- I have stopped watching the stock market on a daily basis -- its just too depressing -- but everytime I get upset over it I think of how my dad must be feeling - he has a lot more invested in the stcok market then I will ever have in my life

 

[TPS]

Well the Fed cut 3/4 of a point off some interest rates, and it looks like the futures are now only down 207 ahead of the bell.

TPS

 

[varanook]

Well the Fed cut 3/4 of a point off some interest rates, and it looks like the futures are now only down 207 ahead of the bell.

TPS

delaying the inevitable.

is it mew or is there a sense that wall street can influence the fed?

 

[efil4stnias]

i posted this on the other recession thread....


just so no one misses this....Oil is at $87.13 pbl. Thats $13.000 off its high, what, 3-4 weeks ago?

One guy in the utilities industry (works for Entergy ) told me before Christmas, that IF the economy is headed for a recession ( which he thought we were ) you will start to see a SHARP decline in oil prices. Maybe some econs here can explain why, cuz I dont see the correlation.

But darned if he wasnt right. And to think as he was telling me this oil was shooting up and I thought " heh, whats this guy talking about?"....


cant get Bloomberg.com---and we have a T1 connection!


oh and let me add that I have lost just over 15% of my retirement account over the last 60 days. I dont even know what to do. Then I go to cnn.com first thing this am and see a Headline..."Wall St. braces for pounding"...all indicators say losses could top 500 pts. Oh man. Not ready for this.

 

[Furor]

Oil prices would decline in a slower economy due to lower demands for oil. People would have less money to spend and would be driving less, taking less trips, etc. As America is by far the largest consumer of oil, our economy affects oil prices the most.

 

[4saintspirit]

Oil prices would decline in a slower economy due to lower demands for oil. People would have less money to spend and would be driving less, taking less trips, etc. As America is by far the largest consumer of oil, our economy affects oil prices the most.

Maybe this will reverse the trend of huge sized SUVs that make it tough to park next too --

 

[DadsDream]

Well the Fed cut 3/4 of a point off some interest rates, and it looks like the futures are now only down 207 ahead of the bell.

TPS

MSNBC
Federal Reserve makes emergency rate cut
Three-quarters of a percentage point cut biggest in recent memory
January 22, 2008

EXERPTS:
The move caught financial markets by surprise. Many had expected the central bank would wait until its meeting next week to make any move in interest rates. The Fed made the move before markets had opened in the United States, hoping that the bold move would limit the decline in U.S. stocks.

Before Tuesday’s move, the Fed had cut interest rates three times, beginning in September, the month after a severe credit crunch had roiled Wall Street and global financial markets. The Fed cut the funds rate by a half-point in September and then by smaller quarter-point moves in October and December.

In its statement, the Fed said, that “appreciable downside risks to growth remain” and held out the prospect of further rate cuts.

“The committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risk,” the Fed statement said.

READ MORE
http://www.msnbc.msn.com/id/22780489/

 

[efil4stnias]

my question then is- if the Dow still sheds 500 pts or so AFTER the rate cut, what does that say to investors? Or is investors saying to Fed we dont think this is the correct action?

 

[bclemms]

.75 emergency cut before the market even opens. Nice. Yep, nothing to see here move along people.

 

[bclemms]

-378.16 Lets see where it goes from here.

 

[varanook]

http://money.cnn.com/2008/01/18/news/economy/cure.fortune/index.htm?postversion=2008012107

 

[DadsDream]

It's a presidential election year.

- Be prepared to see many strange and wondrous things happen with all the markets, especially commodities, as various elements manipulate things to seek an advantage for whomever they're backing in the election.

- Be prepared to see all manner of gloom and doom predictions in various media outlets.

- Be prepared for all the strange and wondrous things and the gloom and doom predictions mysteriously evaporate after November.

 

[bclemms]

Yep, the credit problem is just a big conspiracy to make Bush and the Republicans look bad before the election.