WTF is happening to this market?

[YoungNJacked]

Originally Posted by jdjack

I think this will be like the 3000 down to 3 auto makers type of situations.

And about the auto's. We shouldn't bail them out, put them into Ch.11 and then they can come out with nice discount incentives to get ppl to buy, and re-negotiate w/ the unions, but the white collars in these comps need to take HUGE paycuts. Like 100k and thats it.

yeah, i agree, they fucked up, so its their job to figure it out. u cant have the govt bail u out because u have shitty business

[unnatural1]

Originally Posted by jdjack

I think this will be like the 3000 down to 3 auto makers type of situations.

And about the auto's. We shouldn't bail them out, put them into Ch.11 and then they can come out with nice discount incentives to get ppl to buy, and re-negotiate w/ the unions, but the white collars in these comps need to take HUGE paycuts. Like 100k and thats it.

I think that's why the big 3 did not get the bail out yet. I read that the average jap auto worker in the US made around $45/hr and the average big 3 worker made about $70.

[YoungNJacked]

experts today confirmed we have been in a recession since 2007.

the dow is already down 400 today on that news.........this shit is getting scary. i hope there arent too many massive layoffs in the future. its already sad as it is with all these people losing their homes. now thinking about all these peoples retirement/401k on the line.

[YoungNJacked]

[url=http://biz.yahoo.com/rb/081201/business_us_usa_economy_recession.html]U.S. entered recession December 2007, panel says: Financial News - Yahoo! Finance[/url]

not good news

[jdjack]

How so? If recessions last approx. 20 months then we're over half way thru.

[The_Anonymizer]

Originally Posted by YoungNJacked

experts today confirmed we have been in a recession since 2007.

the dow is already down 400 today on that news.........this shit is getting scary. i hope there arent too many massive layoffs in the future. its already sad as it is with all these people losing their homes. now thinking about all these peoples retirement/401k on the line.

dude the layoffs have only just began....

i'd be willing to bet that by the end of January there will be over 1million more people laid off which equates to a rise in national unemployment rate of about half a percent.

[jdjack]

Yep buckle up we're goin over 10%. Good luck all.

[unnatural1]

I think the reported unemployment numbers are BS. I think they will be revised upwards. The real number is closer to 700,000. We are being fed information piecemeal, trying to ease the pain.

Tough trading the market now with the low volume. Got stuck this week short looking for a retest of lows that never happened. I was anticipating a strong sell off on the big unemployment numbers, instead I got a rally. Go figure.

Good luck to all.

[IFIWAS]

Well I hope it rallies a little more over the next 2 weeks...or I gots some options that are going to end up worthless...lol

[zambon]

During Clinton the numbers used to figure unemployment were changed to show a "lesser" number, if you were to use the calculations based on the older system you add about 2% to the emp rate.

The market is ill, stuff that use to take maybe years happen in hours now ,fluctuation wise. I have no idea what to do with the money i left in, I felt dumb selling GE at 25, now not so bad a move, but the rest I have commited to ride, to big a hit, pretty sad for those deluded in thinking the market was a safe place, lol, those conservative CD type investors look pretty smart now.