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Dow closes under 13,000

Discussion in 'Political Zone' started by Mavs Man, Aug 15, 2007.

  1. Mavs Man

    Mavs Man All outta bubble gum

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  2. Sasquatch

    Sasquatch Lost in the Woods

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    I'm getting spanked but I think we will be up by the end of the year. I don't think the government should intervene and bail out unsound financial practices even though some stability would be nice.
  3. arglebargle

    arglebargle Well-Known Member

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    This website has been cataloguing the collapse of the subprime bubble for a while. I saw it at the beginning of the year, and so am not surprised at the problems. Just a question of how bad it gets.....

    http://ml-implode.com/
  4. Mavs Man

    Mavs Man All outta bubble gum

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    I don't think the subprime mortgage market collapsing is a surprise - but this is the first time it's starting to directly affect markets outside of real estate / mortgages. I saw for myself how the subprime market was going during my job search last year at this time. One of the places I interviewed with was heavily into subprimes, and was no longer in business a week later. The others were starting to feel the crunch. Bear Stearns has been feeling it for months.
  5. Sasquatch

    Sasquatch Lost in the Woods

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    Any thoughts on the past few bullish days on the market?
  6. Mavs Man

    Mavs Man All outta bubble gum

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    It's nice to have it going up a few days in a row, but we definitely haven't seen the last of the subprime mortgage/credit crunch.

    Looks like the Fed has helped it a bit, but at what cost?
  7. burmafrd

    burmafrd Well-Known Member

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    It seems Bernanke is willing to try and keep things stable but wants to cause lenders to be tougher on borrowers, which is a good thing. That is a different stance then the last chief had.
  8. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    I have heard he was one of the better appointees by bush.

    I really don't know much about this stuff but many have said he was a very good hire for the position.
  9. Ben_n_austin

    Ben_n_austin Benched

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    I talked about his "sub prime" bubble a few years ago. About how the interest rates would come back to bite our economy. News flash! When banks are dropping their pants to borrowers, that does not mean we're doing well!

    This has been going on since, well, right around the 9/11 attacks.

    My guess is that it will get pretty bad, considering the housing market as opposed to the actual job market factored in with the current rate of inflation; and the instability of an election year.

    My guess would be moderately to pretty darn bad. :eek::

    Shall we host an episode of "Where are they now"? :)

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