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  1. #1
    Administrator ALIPAC's Avatar
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    Savings in Wall Street and Dow 9,000

    I'm listening to the news and the pundits are all decrying how so many people have lost their savings that were invested in stocks.

    It occurred to me that there was the problem.

    Since when, in America, did the stock market become a place for a family's savings?

    I thought that Wall Street and the Stock Market was a place for speculation and investment, not savings.

    It used to be that in America many common citizens felt the stock market was a form of gambling.

    Now the illusion is unveiled and that illusion is that American citizens should ever park their money in the stock market and let it ride. The average citizen does not have the access to information needed or the time needed to monitor the markets closely to play this game.

    If Americans actually had savings in bank accounts, the banking failures would be less likely and economic impact from market corrections would have a less severe impact on our total economy.

    The scam going on in this country is so deep that there should have been calls from DC politicians over the last several years encouraging Americans to SAVE! SAVE! SAVE!

    I never heard that call from a so called leader in DC. Anyone else hear it? Did I miss it?

    W
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  2. #2
    AE
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    WE have kept up till today. We saw the stock market fluctuate and even drop terribly.

    Have not heard anything yet in people actually using it as a means to "save" money. Would not surprise me though.

    Absolutely foolish!
    “In the beginning of a change, the Patriot is a scarce man, Brave, Hated, and Scorned. When his cause succeeds however,the timid join him, For then it costs nothing to be a Patriot.

  3. #3
    Senior Member Catslave's Avatar
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    Even if there was a faint "call" for people to save, the government surely
    didnt set a good example.

    You have some good points there. We unfortunately joined that new
    way of gaining wealth, and are feeling the pain. We wanted a better
    return on our money but now if this keeps up we wont have anymore
    than if we buried in the back yard....which, I might add, is a darn good
    idea, and all coins, silver at that!

    It might be better to bail and pay the tax hit and have some "change"
    left!
    PROMOTE SELF DEPORTATION, ENFORCE OUR
    LAWS!

  4. #4
    Senior Member florgal's Avatar
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    Selling Accelerates as Dow Plunges Below 9K

    The Dow slipped below the 9,000 level for the first time since August 2003 Thursday afternoon as the markets threaten to close in the red for the seventh consecutive day.

    Today's Market

    As of 3:26 p.m. EDT, the Dow Jones Industrial fell 339.37 points or 3.70%, to 8915.34, the broad S&P 500 dropped 43.13 points, or 4.38%, to 941.81 and the Nasdaq Composite lost 45.25 points, or 2.59%, to 1695.18. The consumer-friendly FOX 50 dropped 29.36 points, or 3.97%, to 710.34.

    “Having an eight-handle on the Dow is a scary picture but it's just representative of what we’ve seen over the last 10 trading days. It's pretty scary business," said Art Hogan, chief market strategist at Jefferies & Co. “It’s just unheard of. We’re getting to that point where it's impossible not to think we’re hitting a bottom."

    continued at link.....
    http://www.foxbusiness.com/story/market ... nce-rally/

  5. #5
    Senior Member Populist's Avatar
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    The $700B bailout scam was supposed to stabilize the stock market. In fact, it's done the exact opposite. Every day since the bailout passed, the market has plunged -- big-time.
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  6. #6
    Senior Member LuvMyCountry's Avatar
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    People have lost alot of money in 401K plans offered by their companies. Many people have stock in the company they work because it is given to them thru time. This is part of their retirement. When prudential lost 10 points in their stock today that had a direct effect on my wife because she has worked there and holds their stock.

  7. #7
    Senior Member LuvMyCountry's Avatar
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    I have a feeling this is all an effort to socialize the western world into possibally one Gov. Might be far fetched but our ability to function as our own country is being atacked by our own Gov. There was no need for a bailout and it sure didnt do what they said it would do.

  8. #8
    Senior Member alisab's Avatar
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    When are we going to get these idiots out of office? We the people keep putting up with this government and nothing seems to ever change, only get worse!!
    Once abolish the God and the government becomes the God.*** -G.K. Chesterton from the book 'The Shack' by Wm. Paul Young-

  9. #9
    Senior Member LawEnforcer's Avatar
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    The government will never tell americans to save because its invested in the credit bubble, the consumption bubble and the "give us your money" philosophy.

  10. #10
    April
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    Theylook at us as nothing more than something to use up!

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