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Major Stock Market Indexes Fall to 1997 Levels

Discussion in 'News & Current Events' started by carpro, Feb 23, 2009.

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  1. carpro

    carpro Well-Known Member
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    http://www.cnsnews.com/public/content/article.aspx?RsrcID=43983

    Major Stock Market Indexes Fall to 1997 Levels
    Monday, February 23, 2009
    By Sara Lepro, Associated Press

    New York (AP) - The major market indexes have staggered to their lowest levels in a decade, pulled lower by investors rapidly waning confidence.

    The Standard & Poor's 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average, down about 215 points, reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.
     
    #1 carpro, Feb 23, 2009
  2. Palatka51

    Palatka51 New Member

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    Very soon we all will wake up to a loaf of bread costing us $20.00. [​IMG]
     
    #2 Palatka51, Feb 23, 2009
  3. targus

    targus New Member

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    Optimist...

    At the rate that the gubermint is printing money you'll need a wheelbarrow of money to buy that loaf of bread.
     
    #3 targus, Feb 23, 2009
  4. Palatka51

    Palatka51 New Member

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    I agree. I just didn't want to be labeled an alarmist. [​IMG]
     
    #4 Palatka51, Feb 23, 2009
  5. KenH

    KenH Well-Known Member

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    The tumbling stock markets are a sign that deflation is the big danger for the moment, not inflation. If we fall into a deflationary spiral it will take at least a decade to recover from it. Inflation is bad but deflation is much, much worse. The inflationary years following the Vietnam War were way easier to endure and recover from than the deflation that started in 1929.
     
    #5 KenH, Feb 23, 2009
  6. rbell

    rbell Active Member

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    Oh, we'll solve the deflation issue, quickly.

    We'll just print a trillion dollars, or more.
     
    #6 rbell, Feb 23, 2009
  7. billwald

    billwald New Member

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    Market needs to fall until the median price earnings ratio is 30 to one or less.
     
    #7 billwald, Feb 23, 2009
  8. carpro

    carpro Well-Known Member
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    Investors...the people that create jobs not paid for by tax dollars, are not impressed by Obama's monster deficit spending that does nothing to stimulate the economy.

    He's going to drive this country right into a depression and they're not going to risk their money in that kind of climate.
     
    #8 carpro, Feb 24, 2009
  9. carpro

    carpro Well-Known Member
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    You really just don't have a clue.

    So entranced by your new political messiah that you are totally blinded to reality.
     
    #9 carpro, Feb 24, 2009
  10. Crabtownboy

    Crabtownboy Well-Known Member
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    Perhaps you didn't notice, but the downward direction of this battleship, i.e. the economy/stock market, started with the previous administration. You can't stop or turn a battleship quickly. It takes time and a lot of space.

    We still have a ways to go before hitting resistance, and that may simply cause a pause before heading on down. Time will tell. Keep tuned.

    Also perhaps you didn't notice the market went UP today. But I wouldn't buy yet, at least not heavily. Have you noticed that IAG has gone straight up from about $3.00 to $8.00 a share. There are always buys in a market, even in the worst market. But be careful!


    Deflation is always a problem when it raises its ugly head.


    Have a blessed day.
     
    #10 Crabtownboy, Feb 24, 2009
    Last edited by a moderator: Feb 24, 2009
  11. KenH

    KenH Well-Known Member

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    Hardly anyone recognizes that, Crabtownboy because its been 70 years since we had a severe round of deflation. So many people are so concerned about possible inflation down the road that don't see that they could be clobbered by massive deflation before this year is finished.
     
    #11 KenH, Feb 24, 2009
  12. carpro

    carpro Well-Known Member
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    Deflation and inflation are two sides of the same coin.

    Choosing one instead of the other, in your case, is merely a matter of political ideology.
     
    #12 carpro, Feb 25, 2009
  13. billwald

    billwald New Member

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    Explain why the dollar is stronger than the eu or pound?
     
    #13 billwald, Feb 25, 2009
  14. LeBuick

    LeBuick New Member

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    Careful, Rev Mitchell would accuse you of hyperbole if you keep talking down the economy.
     
    #14 LeBuick, Feb 25, 2009
  15. LeBuick

    LeBuick New Member

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    You guys sure got me scratching my head, I just read a thread where folks condemned Obama for being honest about the economy then I come here to see folks who agree it is bad. I sure wish you guys could decide if times are good...
     
    #15 LeBuick, Feb 25, 2009
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