Congratz, if you live in the US.... - Page 3

motordavid · #21 09-17-2008, 03:20 PM

Quote:

Originally Posted by LeMansX5

^^Pension funds are supposed to have the most money in the country.

This snippet is just one of dozens, (most more esoteric and complex),
talking of the pension plan impact vis a vis the credit/liquidity collapse...
most plans appear to be ok though, as the % of risky crap or, investments
in the companies and funds that hold/held the risky crap, are usually not
a large % of the holdings. Many Mutfunds hold some junk, however.

http://money.cnn.com/2008/07/07/pf/r...ney_topstories

Sponsored Links

LeMansX5 · #22 09-17-2008, 04:02 PM

As McCain said "the fundamentals of our economy are strong," whatever that means.

Krimson X · #23 09-17-2008, 05:04 PM

Dow closes at -449.36. Ouch!

The only thing that mitigated the damage was a surge in oil prices. +6 bbl. on the day.

LeMansX5 · #24 09-17-2008, 05:26 PM

.....and Morgan Stanley considering merger with Wachovia

Boston X5 4.4 · #25 09-17-2008, 05:29 PM

I think that I will rename my 401K as 40k.....repeat after me...."dollar cost averaging"

LeMansX5 · #26 09-17-2008, 05:36 PM

Time to go back to putting savings under the mattress.

motordavid · #27 09-17-2008, 07:18 PM

Quote:

Originally Posted by Boston X5 4.4

I think that I will rename my 401K as 40k.....repeat after me...."dollar cost averaging"

... and, yes: keep packing it away. It is one's only real
financial hope for those of you under 50ish.
GL,mD

AzX5 · #28 09-17-2008, 07:45 PM

Quote:

Originally Posted by Krimson X

Dow closes at -449.36. Ouch!

The only thing that mitigated the damage was a surge in oil prices. +6 bbl. on the day.

Did you see the surge in GOLD?

http://www.breitbart.com/article.php...show_article=1

NEW YORK (AP) - Gold prices exploded Wednesday—posting the biggest one-day gain ever in dollar terms—as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.

Gold for December delivery rose as much as $90.40, or 11.6 percent, to $870.90 an ounce in after-hours trading on the New York Mercantile Exchange after jumping $70 to settle at $850.50 in the regular session. That was the biggest one-day price jump ever; gold's previous single-day record was a $64 gain on Jan. 29, 1980. In percentage terms, it was gold's largest one-day advance since 1999.

The huge rally came after the government moved overnight to rescue troubled insurer American International Group Inc. with an $85 million bailout loan. The Federal Reserve stepped in after AIG, teetering on collapse from losses tied to the subprime crisis and the credit crisis, failed to find adequate capital in the private sector.

The emergency measure came a day after Lehman Brothers Holdings Inc., a 158-year-old investment bank, filed for bankruptcy after failing to find a buyer.

Fearing more tightening of credit markets, investors reacted swiftly and began dumping stocks and socking money into gold, silver and other safe-haven commodities. Gold is especially attractive during times of crisis because the metal is known for holding its value.

soccerjunky · #29 09-17-2008, 09:13 PM

Earlier this month, AIG agreed to pay outgoing CEO Sullivan a $47 million severance package.

Looks like the federal loan to AIG will be well spent

http://www.reuters.com/article/hotSt...38409420080718

Krimson X · #30 09-17-2008, 10:18 PM

Quote:

Originally Posted by AzX5

Did you see the surge in GOLD?

http://www.breitbart.com/article.php...show_article=1

NEW YORK (AP) - Gold prices exploded Wednesday—posting the biggest one-day gain ever in dollar terms—as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.

Gold for December delivery rose as much as $90.40, or 11.6 percent, to $870.90 an ounce in after-hours trading on the New York Mercantile Exchange after jumping $70 to settle at $850.50 in the regular session. That was the biggest one-day price jump ever; gold's previous single-day record was a $64 gain on Jan. 29, 1980. In percentage terms, it was gold's largest one-day advance since 1999.

The huge rally came after the government moved overnight to rescue troubled insurer American International Group Inc. with an $85 million bailout loan. The Federal Reserve stepped in after AIG, teetering on collapse from losses tied to the subprime crisis and the credit crisis, failed to find adequate capital in the private sector.

The emergency measure came a day after Lehman Brothers Holdings Inc., a 158-year-old investment bank, filed for bankruptcy after failing to find a buyer.

Fearing more tightening of credit markets, investors reacted swiftly and began dumping stocks and socking money into gold, silver and other safe-haven commodities. Gold is especially attractive during times of crisis because the metal is known for holding its value.

I didn't, but it makes plenty of sense since the dollar has no real intrinsic value anymore.

Sponsored Links