So he made the chairman copies. I don't get it. There already is a fair amount of subrime litigation, both class action and derivative, and though there's been a slight uptick in overall class actions over the past year, it's not like the way it was in the 90's. The courts have made life for shareholder plaintiffs pretty difficult lately (thinking of Tellabs and Stoneridge from earlier this week).
interesting. thanks for the link. it was straight to the point and i guess it makes sense when i think about myself more. i have been thinking of myself in the spending scenario as a pretty unique case. i have gone from 20k to 100k to 500k in the past 3 years. i also have to pay my own taxes every quarter so i know the pain of writing massive checks to the u.s. treasury. so basically i already save a lot of money for taxes and i can't really see myself going out and buying something new now if i don't have to spend that money for taxes. i guess i just figured others weren't as tight with their money as they made more.
i dont see how a tax cut will stimulate the economy at this time. if anything i think the low income and middle class will just save the money bc the worse is yet to come. i think the best remedy is to sit tight and let the market correct itself. man its gonna be painful...
Americans save? That's almost funny Most Americans consider their houses as their savings plan. That with social security and their company savings plans and that's about it. The average American family's credit card debt is something like $8,000 at an annual rate somewhere north of 13% Thanks to the constant bombardment of temptation, like freaking Christmas, we are a nation of 4 year olds who can't finish unwrapping one pretty toy before we want another one. I think most Americans would take their tax rebate and put a down payment on something ...and charge the rest. If we do get another Fed decrease it might be worth it for a lot of people to refinance and pay the fees to get out of their ARM's. Not of course in Cali or Fla where they are underwater on their mortgages.
This is so true. People are nuts. I used to work with a lot of very bright, and fairly young engineers. They made great money, and most were DINK-types with a gross take home way over 150k. They were the dumbest people ever with money. One guy did not start his 401k until he was 30+. He has more toys than god, but hardly any savings. Another couple bought a 4000+ sqft house. They have no kids, and two car payments. And on and on. People are dumb, very dumb.
Most personal savings surveys i've reviewed don't include 401k plans or qualified retirement plans which make up most of Americas assets.
Today is a stock market holiday in the US. It looks like there has been a massive sell off in almost all the markets around the world, that are open today. What if anything can we do on Tuesday morining, when folks claim there will be a big sell off on our market as a result of the world-wide sell off. I guess just hold.
there isn't much you can do now. the u.s. market has already priced a lot of stocks for recession. however, the sentiment versus projections is getting out of whack. it seems like some people feel as if the U.S. economy is dead and going into depression and that subprime and housing is going to kill every puppy and child born...however the data only seems to point to a mild recession at worst. i think that disconnect points to us getting closer to a bottom. i think we still have more bloodletting to come but we are getting closer.
I figure I'll hop back in once the market is a tad more stable. I know I should ride these things out, but I'd rather sit in a money market for 6 months than just watch my money vaporize electronically.
**** tax cuts, we need rate cuts mo fo. And it looks like good ole MLK saved the day. It would suck balls if the market was open today.
the $145 billion in tax relief proposed by bush, is that money pulled from one project in order to give the money back to the people, or are we just printing more money in order to give it to people? it would seem to me this will only help exacerbate the weakening of the dollar, and like dubious said most people will just use it in order to rack up more debt.
It doesn't matter if stocks go up or down the rich will get richer and the middle class will suffer. We need to get rid of hedge funds and shorting stocks.
ummm.... let's just get rid of the rich too! kill them all! but seriously....is your post sarcastic? is my sarcasm meter off?
If you put your money in Treasuries or money market, it will be safe. I've got about 50% my investments there. I have another piece in a gold fund, which has been doing well. The rest of my investments are taking a beating. I thought about putting everything in bonds, but figured it was way too conservative for my age.
What do you mean? Wow: PRICE CHG %CHG Belgium * 3492.48 -202.65 -5.48% U.K. * 5578.20 -323.50 -5.48% France * 4744.45 -347.95 -6.83% Germany * 6790.19 -523.98 -7.16% Italy * 33903.00 -1850.00 -5.17% Netherlands * 422.45 -27.63 -6.14% Norway * 442.79 -30.84 -6.51% S.Africa * 25423.69 -1228.97 -4.61% Spain * 12625.80 -1029.60 -7.54% Switzerland * 7287.14 -404.84 -5.26% Sources: Dow Jones, Reuters* at market close
