the mother effin market yesterday and today...

[Dhar_2]

Re: the mother effin market yesterday and today...

Sell!! Sell!! Sell!!!

[picklemonkey]

Re: the mother effin market yesterday and today...

I heard HP just laid off 25000 employees because of this

[picklemonkey]

Re: the mother effin market yesterday and today...

this makes me feel like an idiot for doing a lump sum in jan instead of dollar cost averaging through dec

[feather]

Re: the mother effin market yesterday and today...

Oh, and Damien Hirst made USD$126,623,656 from the sale of 56 pieces with someone paying USD$17,242,370 for this (I think that's the right one):

[Miroslav]

Re: the mother effin market yesterday and today...

not yet. you'll know when Russia gets pissed and launches a few nukes

[feather]

Re: the mother effin market yesterday and today...

So we currently have Ike on a rampage, the economy fucked over, and the LHC about to fire up. Is it time for the end of the world yet?

[MJDub]

Re: the mother effin market yesterday and today...

Either way, it's no bueno.

[88Mariner]

Re: the mother effin market yesterday and today...

^ nobody was taking the day off yesterday. i'm pretty sure of that much.

[asdf_admin]

Re: the mother effin market yesterday and today...

I thought they filed today, after there was no bail out option for them?

[MJDub]

Re: the mother effin market yesterday and today...

Market was closed on Sunday. Thank you,

Concerned Citizen.

Lehman and Merrill went under on Sunday, though.

[asdf_admin]

Re: the mother effin market yesterday and today...

Market was closed on Sunday. Thank you,

Concerned Citizen.

[Miroslav]

Re: the mother effin market yesterday and today...

actually, don't call me Nostradamus just yet. Was talking about this with my dad and thinking back to my macroecon classes... We could be in much worse for the risk of deflation. Since things are so uplifting today, let's paint this picture...

Every big bank failure like this represents a big tightening of liquidity. Banks get cash to prop them up, but they're not willing to make loans with it like before. Credit will simply dry up, and there will be no more consumer borrowing. Consumers will slow their spending to a trickle, and prices will tumble. As prices tumble, corporate profits will shrivel, causing a tidal wave of layoffs and bankruptcies. At that point, we're fucked because we'll be in a vicious cycle: the lack of spending causes massive layoffs that lead to more and more people who can't spend. The Fed can print money, but it won't have a good way of getting it into the hands of anyone who is willing to spend it.

And this is all just starting. Banks haven't yet really cracked down on their credit lending like they're about to...

Happy Monday!

[thesightless]

Re: the mother effin market yesterday and today...

AIG is a different story for different reasons.thier cash on hand has been decimated by faulty claims and the natural disasters. plus a nasty nasty stock sink. mother fucker i should have sat for the civil service exam......

[Miroslav]

Re: the mother effin market yesterday and today...

I hate to say it, but welcome to the new Great Depression. We have not reached bottom yet. WaMu and AIG have the highest probability of being next on the chopping block. Some day we will be telling our grandkids about these years.

just call me Nostradamus.

http://www.mercuryserver.com/forums/showthread.php?t=48332&highlight=hyperinflation

[day_for_night]

Re: the mother effin market yesterday and today...

so SO glad i didn't get a job with merrill about 3 years ago.