I thought 8,000 before today. 7500 would be about a 50% drop from the high, and I can easily see that happening. I’m going to buy when we hit bottom, but I’ve thought we haven’t yet, and so far I’ve been right.
Bush ran about every company he ever ran into the ground, so we shouldn’t be surprised.
:: gasp, rattle, wheeze ::
Mmmmmmmmmedic!
:: kaff, kaff ::
US Debt Clock Runs Out Of Digits
Until last month, the clock had enough digits to measure US debt levels.
The US government’s debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure. The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.
The board was erected to highlight the $2.7 trillion level of debt in 1989.
Look everyone, we have a market timing genius among us! So awesome he deigned to grace us with some nuggets of wisdom!
–scrapes bottom of shoe–
Could happen today for sure.
The all-time record is 14,164.53, so down 50 percent from that is closer to 7,000.
So we’re not down 50%? Whew! I thought we were in trouble there for a minute.
My understanding is that the overall stock market has lost about $7 trillion of value. Younger people may not know this, but that actually used to be a lot of money.
And there it is: the Dow under 8,000 a few minutes into Friday’s session. Actually it’s below 7,900 at the moment.
Though it’s now bounced back a bit. However, I get the feeling that the Dow will keep on gently sliding down for a while, with bumps back up from bargain hunters to break the flow a little. I’m planning to retire in about 2 years, but fortunately I don’t have to rely just on my 401K.
Well, heck.
I know a nice little island, lots of coconuts and fishing. Good hideaway from global economic meltdown.
Now, where did I put my straw hat?
It’s actually hovering around positive at the moment. There have to be some people thinking it can’t get worse than this. But it seems like there is a big drop at the end of every day now, so who knows.
I can’t say I found Bush’s speech this morning reassuring. He didn’t do much to inspire confidence. How about some direct advice for Americans about what each person can do (i.e., talk to people about not freaking out, not about corporate lending practices). I never thought I’d say this, but it made me miss Reagan’s style.
No, you lost 25% of your investments. Big difference. Savings are the things that don’t go away until you spend them. I learned this in 2000, now it’s your turn…
Not gloating, mind you… I think I’ve lost something like $20,000 over the last few weeks and I’m not happy about it at all.
So did anybody buy low last week and is now reaping the benefits of a huge surge in stock prices?
The DJIA gained 936 points today, another all-time record in absolute terms, if not by percentages (11%).
The roller coaster ride continues…
That would be me. I bought some Morgan Stanley at $7.75/share on Friday. Up 131% as of right now. Too bad I didn’t buy a ton of it – I knew there was a good chance it would tank if the Mitsubishi deal fell through and/or the G7 meeting freaked everyone out so I was conservative. Ah, hindsight…
Hehe I started a new job recently and my first 401k deduction went in to the new plan late Friday, at just around the low point. So assuming it’s made around 12% per business day, so far I’m on pace to retire with millions sometime around Christmas. Woohoo 
…aaaaand now it’s down 733 points today. When is the loop-de-loop coming?
Want a little dose of irony? (I guess that’s the right word.) I heard on the BBC that of all the banks in the world, the ones least affected by the whole mortgage clusterfuck are those in Africa. They didn’t get into the whole subprime mortgage buying frenzy.
Currently at 5,800. Almost 1/2 of the volume of a month ago.
I read that when it was at 7000 several Trillion dollars were lost, can anyone point at more accurate numbers (the actual damage in dollars) and what we can expect in the near future? What companies or trades will be most affected? (Got to plan where should I apply for work in the near future.)
Are you posting from the future? In my timeline, the Dow is sitting at 8752.
What year is it where you are? Who is in the world series?