Deal reached in US financial crisis [Update- NOT Passed] - Page 6 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

octothorp · 09-29-2008, 02:02 PM

Quote:

Originally Posted by FanIn80

So does (or can he even) Bush veto this vote and pass the law anyway?

I could be wrong, but I don't think Bush can veto a defeated vote, only an approved vote.

FanIn80 · 09-29-2008, 02:09 PM

Quote:

Originally Posted by octothorp

I could be wrong, but I don't think Bush can veto a defeated vote, only an approved vote.

Yeah I just read up on it, I think you're right.

loob job · 09-29-2008, 02:11 PM

So when do you think the right time to buy stocks would be, now? Everything seems really really low, can they go lower?

RougeUnderoos · 09-29-2008, 02:15 PM

Quote:

Originally Posted by arsenal

Does it actually affect Canada? Or is just speculators selling and re-investing in something they deem more stable?
Part of me wants to think that the markets have been way too speculative lately. I hope that this will get some of the speculation out of the market, and get back to actual real numbers.
Mind you I am no market guy.

The Yanks buy a lot of stuff from us. If they go into the crapper, they'll stop buying so much stuff.

That's my "I don't know anything, but that seems straightforward and likely true" answer. I'm sure there are other things that will effect us as well.

I've got a different question -- they keep talking about "employers won't be able to borrow money to pay employees, so they will be laid off".

Isn't an employer who borrows money to pay his employees on his way out of business anyway? The guy on CNN has brought it up several times. He even said "employers need to be able to borrow that money to keep the lights on, to stay in business". It doesn't make sense to me.

Bobblehead · 09-29-2008, 02:15 PM

Quote:

Originally Posted by loob job

So when do you think the right time to buy stocks would be, now? Everything seems really really low, can they go lower?

If companies can't make payroll or cover costs, then things will drop further.

Wookie · 09-29-2008, 02:16 PM

Quote:

Originally Posted by loob job

So when do you think the right time to buy stocks would be, now? Everything seems really really low, can they go lower?

Depends on the invester. It's gotta be the right time for you. How long do/could you hold on for? Will you need the cash at some point? Some point soon?

If one of my investments wasn't very illiquid I would have sold and bought some suncor, encana, and oilexo today, or a few weeks ago when all three had tanked and were at todays levels.

Phanuthier · 09-29-2008, 02:21 PM

Quote:

Originally Posted by Table 5

Don't think this won't affect those of you living outside of the country. Maybe not as bad, and not as quick...but everyone will feel the pain.

Table 5 is exactly right here. Don't think this problem is isolated to investment bankers, Americans or investors.

Credit being frozen is going to be a crisis

HOOT · 09-29-2008, 02:22 PM

DOW closes at -777.68 for the day!

When a treasury spokes person was asked how they came up with the $770B figure he replied:

Quote:

It's not based on any particular data point, we just wanted to choose a really large number.

lol

FanIn80 · 09-29-2008, 02:24 PM

Quote:

Originally Posted by HOOT

DOW closes at -777.68 for the day!

When a treasury spokes person was asked how they came up with the $770B figure he replied:

lol

Oh man. That's all kinds of awesome.

Slava · 09-29-2008, 02:27 PM

Pretty crazy really. It seems that the whole "Main Street Vs. Wall Street" argument took hold though, and people just couldn't make the connection between the two. It will be interesting to see how the whole thing plays out.

I would expect that this is not the end of it (in terms of the down), but really that is a pure guess. I figure that we are looking at another few months of pain before things really turn for the better.

HOOT · 09-29-2008, 02:28 PM

Quote:

Originally Posted by FanIn80

Oh man. That's all kinds of awesome.

And most economist are predicting that $700B will not be enough to do any good to the US market...this is surreal in a way.

FurnaceFace · 09-29-2008, 02:33 PM

Quote:

Originally Posted by loob job

So when do you think the right time to buy stocks would be, now? Everything seems really really low, can they go lower?

I would agree with what Wookie said, depends on your situation. If you've got the money to toss in the market and let it sit there then it's not a bad time. Years from now you will get some return.

The best thing to do is to NOT try and time the market. Buy what you can every month with a long term view and you'll ride out the highs and lows. Also find someone who is good at managing your money or has a good company behind them with smart people who tell them what to do. Then just forget about it and let them give you yearly updates on where you're at compared to the average. If you're above the average, you're fine.

Unless you absolutely need to use the money in the short term then it's not worth worrying about these sorts of ups and downs. If you do need the money now you hopefully converted your portfolio to something less volatile.

Slava · 09-29-2008, 02:39 PM

Quote:

Originally Posted by FurnaceFace

I would agree with what Wookie said, depends on your situation. If you've got the money to toss in the market and let it sit there then it's not a bad time. Years from now you will get some return.

The best thing to do is to NOT try and time the market. Buy what you can every month with a long term view and you'll ride out the highs and lows. Also find someone who is good at managing your money or has a good company behind them with smart people who tell them what to do. Then just forget about it and let them give you yearly updates on where you're at compared to the average. If you're above the average, you're fine.

Unless you absolutely need to use the money in the short term then it's not worth worrying about these sorts of ups and downs. If you do need the money now you hopefully converted your portfolio to something less volatile.

Good post. Fundamentally this is absolutely right. You should also invest in a shredder so that when your quarterly or monthly statements arrive you can get rid of them before you even bother to open them.

peter12 · 09-29-2008, 02:44 PM

Quote:

Originally Posted by HOOT

And most economist are predicting that $700B will not be enough to do any good to the US market...this is surreal in a way.

That's why it has to fall down and pick itself up again. Never mind the fear mongering from corporate interests and government, the USA needs some fiscal responsibility and this is just the first step towards that.

jar_e · 09-29-2008, 02:44 PM

Quote:

Originally Posted by HOOT

And most economist are predicting that $700B will not be enough to do any good to the US market...this is surreal in a way.

The numbers I've seen say that it would take atleast 2 trillion to really fix the problem.

RougeUnderoos · 09-29-2008, 02:47 PM

Quote:

Originally Posted by fotze

AThose protesting the fat cats getting a bailout on wallstreet are foolhardy because I can pretty much guarantee that they are going to be just fine with the money they have socked away. Its the people who need their jobs and lose them are the ones who are really going to suffer.

That's the thing. It's never going to be the really rich people suffering. Everyone knows it, but still there is an attitude of "we'll show them". Well, you won't show them anything. Maybe the guy you are "showing" will have to buy a Mercedes instead of a Bentley.

peter12 · 09-29-2008, 02:48 PM

Quote:

Originally Posted by RougeUnderoos

That's the thing. It's never going to be the really rich people suffering. Everyone knows it, but still there is an attitude of "we'll show them". Well, you won't show them anything. Maybe the guy you are "showing" will have to buy a Mercedes instead of a Bentley.

Yeah, it's always the little guy that takes the hit, which really sucks.

HOOT · 09-29-2008, 02:49 PM

Paulson says they are going back to the table to figure out what will work.

If I was him I would just take my $500M I got in the bank and head to Mexico

Slava · 09-29-2008, 03:01 PM

Quote:

Originally Posted by fotze

The only ones who never suffer are those in the medical profession, plus all the rest of the time they make us feel guilty about how downtrodden they are all the time. Doctors are smart for a reason.

I think that the ones who never suffer are the funeral homes...people are just dying to do business with them

.

Top Shelf · 09-29-2008, 03:01 PM

Quote:

Originally Posted by Table 5

These people are elected to lead and make decisions, not to do do whatever the popular vote desires. Who do you think we should listen to, a guy like Warren Buffett or some angry grandma calling her local congressman?

That's Democracy. It and the free market won today. I was shocked to see the bill not get passed, but government intervention is not the solution here.

Wall Street wants to privatize the profits and socialze the losses. How convenient is that? The natural course of the market will eventually get rid of this rotten section. Yes, people will lose money. It happens, I know a lot of people who have lost a lot of money in the last year. Investing is not a "guarantee", there is always some sort of risk involved.