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Thread: Stocks pile on losses amid worries on economy

  1. #141
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    Re: Stocks pile on losses amid worries on economy

    Wow, today the Dow wen from up 150 points, to down 180 points, and then in about 10 minutes, to down only about three points. Strange days indeed.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Meanwhile, in case y'all didn't notice, the markets are still plunging. Congress squabbling over whether we can reduce the defict by $3 or $4 trillion dollars over 10 years ... and the markets have shed $4.5 trillion in the past two weeks....
    How are the stocks of TEA companies doing?
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    Re: Stocks pile on losses amid worries on economy

    And then, in about three minutes, back down 80 points!

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Actually the deficit would have been worse if GM and Chrysler had gone belly up, putting over a million people out of work at the height of the recession.
    Indeed but there is no reason it had to happen. Airlines have exited from Bankruptcy to do fine.

    Hybrid tax credits aren't even a rounding error in the budget.

    Likewise, the Libya conflict is a relatively minor expense, whether or not you agree with it.
    All of these thousands of relatively "minor" things add up.

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    Re: Stocks pile on losses amid worries on economy

    The airlines went through Chapter 11 reorganization -- not Chapter 7 liquidation. Big difference.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by Lord Tammerlain View Post
    I would tend to agree, but if those that did the harm default they will do even more harm
    Fine, but they are now making record profits. Why are we still eating their bad debts?

    High interest rates for your savings are meaningless if the capital is being destroyed as the debt gets defaulted on
    "Default" has been used as a scare tactic.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    The airlines went through Chapter 11 reorganization -- not Chapter 7 liquidation. Big difference.
    Of course. There is no reason the auto companies couldn't have done the same.

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    Re: Stocks pile on losses amid worries on economy

    Without doubt, bad policy has contributed to the market losses. Specifically, the political dysfunctionality demonstrated in Washington and the lack of credible fiscal consolidation program has reinforced concerns that the U.S. is either unwilling or unable to take necessary policy decisions to tackle its big challenges. But the problem is broader than that. There is a structural flaw in the nation's economic model that is increasingly being exposed: overreliance on leverage. PIMCO CEO and Co-
    CIO Mohamed El-Erian succinctly describes the problem in a CNBC piece:

    "The key challenge is how to safely delever Western economies that became too dependent on credit and debt," El-Erian said. "You need growth. Unfortunately there are too many structural impediments to growth."

    ..."We didn't solve the medium-term fiscal issues. In fact we made it worse," he said. "There are significant structural impediments. Until we see structural solutions out of Washington, (slow) growth will not allow us to delever fast enough."
    News Headlines

    The ratio of domestic nonfinancial debt to GDP vividly illustrates the overdependence on leverage:

    1980: 1.418
    1990: 1.868
    2000: 1.825
    2010: 2.486

    These numbers show that for every dollar of GDP, there was $1.418 in domestic nonfinancial debt in 1980. In 2010, there was $2.486 in domestic nonfinancial debt for every dollar of GDP. Put another way, every dollar of GDP growth in the 1980-2010 was accompanied by an increase of $2.740 in domestic nonfinancial debt. In the 2000-10 period that coincided with the dramatic run-up in the housing bubble, every dollar of GDP growth was accompanied by a $3.923 increase in domestic nonfinancial debt.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Wow, today the Dow wen from up 150 points, to down 180 points, and then in about 10 minutes, to down only about three points. Strange days indeed.
    There is a partial fix for this. Tax trades. It would accomplish two goals. It would slow volatility and "tax the rich".

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by 1Perry View Post
    Of course. There is no reason the auto companies couldn't have done the same.
    Yes, there is a reason. They didn't qualify for Chapter 11 without government assistance.

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