Despite what doom/gloomers say, economy roars on.
POSTED BY: AURaptor
UPDATED: Thursday, October 23, 2025 22:23
VIEWED: 13580
PAGE 16 of 19
It'll pull out a bit.
But I wonder what would happen if the Dow broke the magic 12000 mark? Do you suppose there'd be a panic?
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Always look upstream.
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Down 16 now.
"Oh god, oh god, we're all gonna die"
Hey wait a second...
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Since Bush took office the DOW's gained 1,000 points from 12,000. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=DJIA&s
id=1643&o_symb=DJIA&freq=2&time=13 (That's a measley 8% in 7 years.) But if it had kept up with inflation (using the BLS calculator found here http://www.bls.gov/cpi/home.htm ) it would be at 14,500. So it's actually gone --- backwards.
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"Only 1,500 points to go and I'll be out of the hole."
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Quote:
Originally posted by rue:
"And you never did answer my question about how long it took you to find this thread again"
Less than a minute. I know how to do efficient searches.
So to YOU it doesn't matter that the economy is tanking now ? Is that what you're implying ?
The economy isn't 'tanking' now. That's only the talk of scared little people who don't see the big picture.
People love a happy ending. So every episode, I will explain once again that I don't like people. And then Mal will shoot someone. Someone we like. And their puppy. - Joss
" They don't like it when you shoot at 'em. I worked that out myself. "
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Quote:Some people thrive on terror.
Originally posted by AURaptor:
The economy isn't 'tanking' now. That's only the talk of scared little people who don't see the big picture.
Although it is interesting that if Rue is talking about the economy “tanking” that implies that he’s finally come around to the reality that the economy was doing well 16 months ago when this thread started, since the economy can’t tank if it was never doing well to begin with. 16 months from now Rue will realize the economy isn’t “tanking” today.
Maybe that's the problem with Left-wing economic theory? It’s always 16 months behind everyone else.
Nihil est incertius vulgo, nihil obscurius voluntate hominum, nihil fallacius ratione tota comitiorum.
Nothing is more unpredictable than the mob, nothing more obscure than public opinion, nothing more deceptive than the whole political system.
-- Cicero
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Finn, Auraptor- If you look at America's indebtedness you'll that retail spending has been propped up in part by credit cards and home equity loans. Home equity loans have been made easier by (1) increasing home values and (2) "creative" loan practices (exploding loans, interest-only loans etc.) BOTH of those were due to come to a screeching halt the minute the Fed raised interest rates. Also, don't forget that a lot of institutions - banks, insurance companies, annuities, pension funds- have placed money into the real estate sector above and beyond direct loans to homebuyers. We had one of our (AAA-rated) pension funds actually placed in receivership during the LAST real estate crash because they had invested most of their portfolio into commercial real estate. It's possible that some funds will crash and burn in this real estate shakeout.
Just how much this will affect the entire economy depends on how much home equity loans have fueled consumption AND investment in the stock market. I don't have a good "read" on that value.
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Always look upstream.
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Finn
You can start out barely awash and tank from there. 
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"Global warming - it's not just a fact, it's a choice."
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Rap
Anything to back up your little opinion ? No, as usual.
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"Global warming - it's not just a fact, it's a choice."
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I don't know if this belongs in the Legal Tender thread or here, but I never expected the Fed to intervene in the stock market/ liquidity crisis to the tune of half-percent! Yowza! That's unprecedented.
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Always look upstream.
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Fed bends rules to help two big banks
If the Federal Reserve is waiving a fundamental principle in banking regulation, the credit crunch must still be sapping the strength of America's biggest banks. Fortune's Peter Eavis documents an unusual Fed move.
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Saw THAT comin'.
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