Stock Market just had a misshap.

[Nova]

And this guy (http://highprobability.blogspot.com/) lost $32k in one day, $55k overall. Anyone else watching this stuff? I thought Monday was bad, but it seems to be getting worse. I have a feeling the suicide rate is going to spike tomorrow.

[Zefram]

And this guy (http://highprobability.blogspot.com/) lost $32k in one day, $55k overall. Anyone else watching this stuff? I thought Monday was bad, but it seems to be getting worse. I have a feeling the suicide rate is going to spike tomorrow.

Smart traders dont trade away all their money, so unless the stock market filled with nincompoops who dumped all their money into the stock market, then there'll be no problem ;)

[owen]

dont watch the stock markets ; i would if i had money there .

[DoK]

It's probably Bush's fault.

[Avid6eek]

It's probably Bush's fault.Seems more like it's Alan Greenspan's fault. Interest rates were held too low after 9/11 for too long.

[Nova]

And the Fed is at it again, trying to fix the problem (http://www.nytimes.com/2008/01/22/business/worldbusiness/23cnd-asiastox.html?_r=2&hp&oref=slogin&oref=slogin) by throwing more money at it.

[AKHandyman]

It's the economy, stupid!

[Avid6eek]

The problem with the 2001 interest rate reductions was that money was cheap, and everyone borrowed it, even if they couldn't afford it. Now all that debt is coming back to haunt us. Now that banks have learned that lesson and have much stricter lending standards, I don't think the outcome will be the same this time. The money will only go to those who both need it, and can afford it.

[Crax]

Teachers were taking out $1,000,000 because banks were giving it to them and they could afford the mortgage for a short while (which really only covered the interest). Before they had even dented the principal they'd turn and sell the house for 1.2 mil and make a "quick buck". Lots of people in CA did this too, but then... all of the sudden... homes quit selling. Builders were starting huge development projects, large subdivisions, building ALL the houses before selling ANY. Now look at it. Subdivisions are full of homes being rented out. They stopped construction in my subdivision and we've STILL got about 5 homes for sale on my street alone. Over eager people trying to make a buck. The banks were right along with it because they win either way...

[Comixion]

They were saying this morning where India lost 7 1/2 % of their stocks in one day.

When the US sneezes, other countries catch cold.

[Avid6eek]

The United States has the worlds largest economy. If we go into a recession, so does the rest of the world. It's in everyone's best interest that this problem corrects itself.