Dow Dives 350+ Points in One Day--Thoughts?

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  1. profile image0
    pgrundyposted 10 years ago

    I know that the longer I go on saying we are doomed, the less credible my opinion is, on account of we're all still here and everything, but seriously, does anyone else think we're doomed? I think we're doomed.

    Yesterday, the Dow Jones Industrial Average tanked 350 points on oil hitting $140. This morning so far oil is at $142. The housing market is worse than ever. Stock fans are being advised to dump their Citigroup and GM stock, and Chrysler came out and said there's no truth to the rumors that they are pursuing bankruptcy proceedings, which, usually when a huge corporation denies a rumor like that it means they ARE pursuing bankruptcy proceedings. Ford stock is at its lowest since 1955.

    I just can't help but feel like this is all not so good.

    Plus I got in trouble at the call center I work for yesterday, not for failing to properly identify a caller (which, if we get caught three times at this we are fired) but for not LOOKING at the properly identified item--which counted the same as not identifying. I take over 100 calls a day so I'm amazed I'm still there, but I knew I had one of these already and this was 2---so I was really happy, since at 3 I get fired and a month later I can collect unemployment for 6 months.

    Guess what?

    They lost the first one!!!!!!!

    What does a person have to do to get canned there? Geez!  My supervisor kept saying to me, I don't want you thinking that you are constantly in danger of being fired here, it's not like that. I said, yes really it is like that, but I promise not to hold you personally responsible. People are like, constantly canned there. They hire a fresh 25 people every couple of months.

    On a smaller scale, I'm backing into vegetarianism because meat costs so much. yikes

    1. guidebaba profile image57
      guidebabaposted 10 years agoin reply to this

      This is Good. Veg is good for health.

      1. profile image0
        pgrundyposted 10 years agoin reply to this

        You're right of course. Veggies are so much easier to digest too. I definitely feel better.

  2. thranax profile image49
    thranaxposted 10 years ago

    Stock Market is crazy, really I think we are in store for another depression.

    1. profile image0
      pgrundyposted 10 years agoin reply to this

      I think so too--it's already getting pretty hard on ordinary people, especially older people who live on fixed incomes. They pay their utilities and that's it, nothing left for groceries.

  3. Uninvited Writer profile image82
    Uninvited Writerposted 10 years ago

    Don't you know the bad US economy is only a manifestation of the liberal media? wink

    1. profile image0
      pgrundyposted 10 years agoin reply to this

      LOL! I forgot! lol

  4. SparklingJewel profile image74
    SparklingJewelposted 10 years ago

    from the perspective that we create our own reality...half of my clients work in the stock market and as brokers. They say change is a way of life; are you going to believe small groups that say things are a certain way and headed a certain direction, or go with the majority that keep moving forward with change?

    consider what we are coming upon with a new president in the chute. Do you want it to stay the same or change? Change can't happen without change, big change and upheaval...it is needed.

    But the majority need to maintain a positive forward drive for positive change and not get defeatest or negative in any way or everything will collapse.

    I'm not going to eat any less or downsize any more...already done that big_smile

    1. profile image0
      pgrundyposted 10 years agoin reply to this

      Um, I WANT not everything, but lots of things, to collapse. Because they 1) are losing money, 2) condone abusive practices towards employees and customers, and 3) are run by evil Overlords who have no souls. Also 4) I'm sick of working for huge corporations that don't even let me pee when I need to just for the crappy 'health' care and 5) I think the country would be better off without them anyway.

      That said, I try to be as positive as I can, but there's a thin line between positive thinking and delusional thinking. I feel a responsibility to describe what is actually going on, in a truthful way, tell it like it is. smile

  5. DJ Funktual profile image79
    DJ Funktualposted 10 years ago

    We've been doomed for so long that the Death of George Carlin may have been the turning point in an avalanche of acopalyptic circumstances and all hopes for sanity should be forsaken!!.    wink

    1. profile image0
      pgrundyposted 10 years agoin reply to this

      Yes, George Carlin, Molly Ivins...these are very dark signs indeed....

  6. Chairman Matt profile image60
    Chairman Mattposted 10 years ago

    A loss of 350 on a Friday looks like profit taking to me.

    Something I'm wondering about after reading these posts is that it coincides with a $2 jump in oil prices.

    I'll also agree about the vocal minority, since I know how easy it is to get a headline to be front page news. Just give PRweb a few hundred bucks and you're guaranteed pickup by Google News, Yahoo News. API, the blogosphere, you even get a podcast that can go viral on radio newscasts.

    Ever since the housing credit bubble burst, Forbes has been recommending buy- go against "the crowd" and I have to agree, due to the 80/20 rule. Applying the 80/20 to the first results explains the Bell Curve shape of a population- 5% of a population controls the other 95%.

    The only thing that makes sense to me is to make enough to stay ahead of all of the increases- which means no TV and minimal "news". If I were going to invest money in the stock market I'd be betting on electricity- coal, home generators, UPS, that sort of thing, as reliable 120 volt power is next on the out of control pricing list according to Forbes.

    Cheer up, buddy- it's weekend!

    1. profile image0
      pgrundyposted 10 years agoin reply to this

      I think oil prices are jumping part because the dollar is declining. I have no idea what to do about the stock market--nothing,  I guess. I have this great matching program at work for my 401k but the thing is currently losing 8%, not earning, and I just rearranged it a month or so ago. Think I'm got it all divided up correctly, so I guess I'll just wait it out.

      Already looks like today will be another roller coaster.

  7. Mark Bennett profile image60
    Mark Bennettposted 10 years ago

    This is not advice, but just the observation of someone who has been around the Sun a few more times than most.

    Bonds. Check them out.

    I have a Hub on the basics of bonds, but the real juice is when you use bonds to lower the risks of holding stocks in times like this.

  8. Reealjrd profile image60
    Reealjrdposted 10 years ago

    Well friends that rebound was when the market was on it sour. Now we cannot such rebound in it. We will have to wait for years to see it again rising.

  9. Reealjrd profile image60
    Reealjrdposted 9 years ago

    Stock market is really crazy and risky too. Share market if for people who are crazy and love to play with risks. I should say that it with no proper track or path.

 
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