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Thread: Dow Jones falls 700+ points

  1. #1

    Exclamation Dow Jones falls 700+ points

    http://edition.cnn.com/2008/BUSINESS...eal/index.html

    Ironic that it's the Republicans who voted 2-1 against the bill, when their leaders are the ones pushing for it. Even McCain, who suspended his presidential campaign to 'work' on the bill, can't persuade his party to vote for it.

  2. #2

    Default Re: Dow Jones falls 700+ points

    funny that the republicans who are the ones who are usually much more business friendly are the ones who voted against it then

  3. #3

    Default Re: Dow Jones falls 700+ points

    the financial system meltdown is a necessary evil. too many transactions are gambled with no chips.

  4. #4

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by mattlock View Post
    funny that the republicans who are the ones who are usually much more business friendly are the ones who voted against it then
    The republicans have usually taken a non-interference position towards businesses most of the time.

    But I do agree the bailout is fashioned too quickly, and seems to be saving the skin of the Wall Street gamblers at the expense of the common guy on the street.

  5. #5

    Default Re: Dow Jones falls 700+ points

    let's watch the economy collapse.

  6. #6

    Default Re: Dow Jones falls 700+ points

    Everyone.......BUY BUY BUY virus have to be suspended due to Wall Street VIRUS.

    It's times like this whoever has plenty of CASH is KING!

    Time to tighten those wallets........the wave will hit us sooner than expected.

    Those who think their jobs are very secure.....think again!

    Those with high income ceiling......well........it's either you take a pay cut or look for another company......keke.

  7. #7
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    Default Re: Dow Jones falls 700+ points

    why ironic? Its been well known that even his own party is damn bua song bush. And mccain's media show boating last week didn't help the process at all...so if the market crash beyond repair the republicans and mccain can kiss their chance in government good bye liao.
    Opinions are like A-holes. Everyone's got one.

  8. #8

    Default Re: Dow Jones falls 700+ points

    it was a grave morning. and it's no laughing matter also.

    difficult times ahead. a lot of pple who loaded yesterday or last week in anticipation of passing of the bill will kena margin call today.

    Be careful when walking underneath tall buildings... may got hit by suicide

  9. #9
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    Default Re: Dow Jones falls 700+ points

    时势造英雄

  10. #10

    Default Re: Dow Jones falls 700+ points

    I wonder if housing prices will drop in Singapore next year?
    The prices now are crazy high, but with the high oil price and big increase in population,
    i doubt housing prices will drop much. What do you guys think?

  11. #11

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by Benign View Post
    时势造英雄
    It was never 英雄造时势

  12. #12

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by chisiang View Post
    it was a grave morning. and it's no laughing matter also.

    difficult times ahead. a lot of pple who loaded yesterday or last week in anticipation of passing of the bill will kena margin call today.

    Be careful when walking underneath tall buildings... may got hit by suicide
    That is what happens when people get greedy and over confident.

  13. #13

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by Nisa View Post
    let's watch the economy collapse.
    Actually that is just the appetizer. More has yet to come.

  14. #14

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by sandyforever View Post
    I wonder if housing prices will drop in Singapore next year?
    The prices now are crazy high, but with the high oil price and big increase in population,
    i doubt housing prices will drop much. What do you guys think?
    I think it will drop. When there is recession, don't think many people will want to buy a house when cash in hand is precious.

  15. #15

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by swampthing View Post

    But I do agree the bailout is fashioned too quickly, and seems to be saving the skin of the Wall Street gamblers at the expense of the common guy on the street.
    I fully agree on this. It is time for those who are responsible for this sub-prime crisis to pay back with blood. Lets see more US banks collapse!

  16. #16
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    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by Henessy View Post
    I fully agree on this. It is time for those who are responsible for this sub-prime crisis to pay back with blood. Lets see more US banks collapse!
    Well seems like we're headed towards 1929 again yah? If more US Banks collaspe, more companies will have no money. No money means no payroll for employees, means no comsumer spending, which will ultimately lead to less spending. Again, this will mean the consumer sector will fall (Nikon/Canon and all your other luxury brands as well) and the whole economy will spiral down.

    The key fact is that the US is the biggest importer of all kinds of rubbish and if they stop doing so, all countries trade exports will fall and deficits will increase.

    Of course all those gurus who claim that China and India will prop the global economy up are wrong. All the stuff produced there is by US companies and are probably exported there as well.

    Anyway what central banks can do are just play with the interest rate, or money supply. Liquidity is in such short supply that Banks in the US are not even lending to each other. Hence the need to inject excess liquidity into the system to ensure enough cash to prop up the system. Of course the other way will be to slash interest rates to make borrowing cheaper, but that will again lead to another Japan, which by the way, still hasn't fully recovered from their own economic melt down.
    Nikon D700,50mm f1.8, 14-24 f2.8, 24-70 f2.8, 70-300 f4-5.6

  17. #17

    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by relaxxjaxx View Post
    Well seems like we're headed towards 1929 again yah? If more US Banks collaspe, more companies will have no money. No money means no payroll for employees, means no comsumer spending, which will ultimately lead to less spending. Again, this will mean the consumer sector will fall (Nikon/Canon and all your other luxury brands as well) and the whole economy will spiral down.

    The key fact is that the US is the biggest importer of all kinds of rubbish and if they stop doing so, all countries trade exports will fall and deficits will increase.

    Of course all those gurus who claim that China and India will prop the global economy up are wrong. All the stuff produced there is by US companies and are probably exported there as well.

    Anyway what central banks can do are just play with the interest rate, or money supply. Liquidity is in such short supply that Banks in the US are not even lending to each other. Hence the need to inject excess liquidity into the system to ensure enough cash to prop up the system. Of course the other way will be to slash interest rates to make borrowing cheaper, but that will again lead to another Japan, which by the way, still hasn't fully recovered from their own economic melt down.
    Though it is true that as more bank collapse, it will eventually escalate to a crisis, however, I personally don't think it is fair for the people to pay for the bail-out plan especially when it is not a small sum.

    The ailing banks will make use of the bail-out plan to get rid of their ill assets at values higher than its actual one.

    In fact the crisis has some benign effects such as inculcating banks to have more responsibility.

    If a bail-out plan is implemented whenever banks are at the teetering edge of collapsing, it will only give them the mindset that, they do not need to manage their loans in a responsible manner, by lending it to those who can really pay it, there will always be a bail-out plan to bring me out of the sh*t I have created.

  18. #18
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    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by Henessy View Post
    I think it will drop. When there is recession, don't think many people will want to buy a house when cash in hand is precious.
    In two days, I will have sold my house and that day cannot come too soon. Already, the sale has been delayed 2 days because of the source of the money for the down payment was delayed.

    When I will buy a house, it will be much less expensive, so I have emergency cash.

  19. #19
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    Default Re: Dow Jones falls 700+ points

    USD$700 billion. as it goes on, it may cost more... who is to say it will not exceed that amount?

  20. #20
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    Default Re: Dow Jones falls 700+ points

    Quote Originally Posted by Henessy View Post
    It was never 英雄造时势

    I only know 眾人皆醉唯我獨醒

    Which reminds me that 花無百日紅,人無千日好

    Your loss, my gain... natural selection!

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