Stocks tank again

9/29/2008:

What are we going to do now?

Several people on the streets of Hoboken are running scared – saying this is just going to get worse, and many folks outside the financial industry are going to be hurt.

What is going to happen next?

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70 Comments on "Stocks tank again"

Journey
Member
Journey
My personal take on “Trickle Down” vs. “Trickle Up” economics. I know people that are the targets of the cuts in both theories. Both sets of people have from my observation very different reaction to finding a little more in the bank (tax cut, windfall, etc). Upper Income Group: Those that I know that fit into this group or aspire to it do the following with their money. They save, save, save, save, and when they spend it tends to be in ways that can grow their savings. They don’t buy a new car if they have a good functioning car. They don’t buy a bigger tv just because they have a little extra cash on hand. Lower Income Group: The ones I know if they are getting money back after they pay their taxes, they have it earmarked for some luxury. A larger windfall, they start thinking about trading their car in for something more fancy. Here is how I see it in a very simplistic way to explain what I’ve noticed… My best friend had a cat that was only feed a measured amount of food in the morning, he always ate the food right away as if he was not going to get any more. My two cats get feed a measured amount a wet food twice a day and a constant supply of dry food all the time. Her cat was overweight and acted like a drought had just ended every morning. Her cat would wake… Read more »
FitGuy
Member
FitGuy

I think this thread needs to head to a bar and add alcohol! Maybe a nice barfight over who’s opinion is correct will ensue. My money’s on Oscar!! 😯

nojokin
Member
nojokin

[quote comment=”108999″]bigjoke, if you never heard of LTV and Fico…then the only thing likely to be in your pocket is lint.[/quote]

Perfect. Lint is about all I’d like to donate to this ‘rescue package’.

strand tramp
Member
strand tramp

bigjoke, if you never heard of LTV and Fico…then the only thing likely to be in your pocket is lint.

nojokin
Member
nojokin

Tell ya what, guys. Why don’t you get your friends and associates together and go in on some of those attractive securities. But don’t try to pick my pocket in the process!!!!

Criminy. Friggin Republicans praising government bailouts, and trying to make it sound virtuous! Ugh.

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