10-09-2008, 10:29 PM | #11 |
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10-09-2008, 10:30 PM | #12 | |
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10-09-2008, 11:01 PM | #13 | |
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1896-2007 Code:
+-----------------------+ | date ret | |-----------------------| 896. | 18DEC1899 -11.99214 | 8288. | 28OCT1929 -13.47188 | 8289. | 29OCT1929 -11.72882 | 22824. | 19OCT1987 -22.61054 | |-----------------------| Last edited by pelagius; 10-09-2008 at 11:13 PM. |
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10-09-2008, 11:07 PM | #14 |
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I'm leaving this up to the experts, in terms of when to buy and sell.
But for what it's worth, my own gut feeling is it's going to fall a lot more. The problem is that all the prior means and methods of valuing these derivative contracts and securities are exposed as junk. These assets comprise a huge part of our companies' assets; hence, we don't know what anything is worth. The problem isn't that they're worthless. Somewhere somehow the underlying real estate is worth something to someone. The problem is nobody knows WHAT anything is worth. Everything was built on assumed valuations in which no one any longer believes. It's like a worlwide loss of faith. A worldwide apostasy from our erstwhile pagan gods. We need something new to believe, new shiboleths, because scrolls have been found in a dusty corner of a museum that expose all our savings accounts as a huge collective fraud. This raises all kinds oof metaphysical questions amounting to, what is value? Questions that should have been asked all the while bankers were being paid eight figures. For what? Maybe Lenin was right. The only real value is created by laborers.
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Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster Last edited by SeattleUte; 10-09-2008 at 11:09 PM. |
10-09-2008, 11:17 PM | #15 |
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Did I mention that my superhero husband pulled out of the market back when it peaked last spring? Is there anything this man can't do? I think I'll start a blog about him.
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10-09-2008, 11:22 PM | #16 |
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10-09-2008, 11:30 PM | #17 |
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10-09-2008, 11:33 PM | #18 |
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10-09-2008, 11:36 PM | #19 |
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10-09-2008, 11:41 PM | #20 |
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I keep hearing people say, "Worst economic times since the Great Depression," including all the time from Obama.
This tagline really confuses me. Have we lost all sense of proportion? Have you seen photos, histories, stories about what times were like during the Great Depression? Does anyone remember the 1970s? Hello?? Of course current conditions are serious, and of course, it could potentially get a lot worse. But economic times are FAR off what the Great Depression was like. I've said elsewhere citing the GD is the equivalent of bring up Adolf Hitler in a debate. It's weak. It's a copout. Unemployment is at 6% for crying out loud. Six percent. That's a far cry from 25%. I get tired of this constant whiny, panicky pessimism that wants to turn every economic downturn into the "Worst Ever" (cue scary music). Bush is not the worst president in the history of the country. These are not the worst economic times since the Great Depression. Go pick up a history book and gain some perspective, folks.
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