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Stock market plunge

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  • Independent
    Ft.myers, FL
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    The Dow has lost more than 1200 points since January ; yesterday it lost 360 points. Sure they blame China or always someone else. No the problem is as usual "the oil". Hedge funds for our "billionaires" lost plenty on oil; also the Iran deal has an effect on it because they are afraid an oil glut will come once Iran gets back pumping. So our "friends" the Koch brothers are loosing their shirt on the "tar sands" which they own. Sure low oil prices benefit the common man but of course not the 1%. So they get back at us to ruin the stock market; sell short is the game. Again this shows that this country has no control over anything whatsoever.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    I actually think this is just the market correcting itself after being artificially high for far too long. I wouldn't get too worried about it for now, but if China continues to struggle and that starts trickling down then who knows what will happen to the world markets?
  • Independent
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    imo, it is the beginning of the bubble bursting. or rather the continuation. that bubble is the concept of infinite growth and "progress" based upon cheap fossil fuels and an amoral if not immoral belief structure. it is a symptom of the problem.
  • Independent
    Ft.myers, FL
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    lonely bird Wrote: imo, it is the beginning of the bubble bursting. or rather the continuation. that bubble is the concept of infinite growth and "progress" based upon cheap fossil fuels and an amoral if not immoral belief structure. it is a symptom of the problem.

    Today they expect it to drop at least another 600 points; looking at the picture, I think it shows who is running this country; it certainly is not us nor the government. It is the 1% who play their games. The problem is capitalism; instead of a Democratic society with not such a huge gap between rich and poor, As well a society which spends their tax money the wrong way; lets built some more war tools or like Trump says lets make the army "huge" ; like Hitler did.

    I don't think this story will have an happy ending

  • Democrat
    Philadelphia, PA
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    jaredsxtn Wrote: I actually think this is just the market correcting itself after being artificially high for far too long. I wouldn't get too worried about it for now, but if China continues to struggle and that starts trickling down then who knows what will happen to the world markets?
    I agree with you, already the New York stock Exchange has already experienced a bounce back up ,
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    The market dropped 588 points today. Dutch was close with his prediction.

    I am not concerned.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    The market dropped 588 points today. Dutch was close with his prediction.

    I am not concerned.

    Schmidt, not concerned? Why? It certainly has effect on a lot of things; how about the elections? How about cost of living? How about energy? How about "debt" and investments in 401K's etc. A market "flash crash" certainly will have its effects worldwide. I've got the feeling this is not the last of it.

  • Liberal
    Independent
    Durham, NH
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    God will provide for us! How do I know? I heard a TV preacher tell us, of course.
  • Independent
    Ft.myers, FL
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    pr Wrote: God will provide for us! How do I know? I heard a TV preacher tell us, of course.

    Sure "it" ( whatever it may be) provided us also with dinosaurs about 6000 years ago according to the preachers. But the "preachers" are lucky ,they don't pay taxes, also not on their capital gains. I wonder if I should become one, so I can then finally get my private plane tax free and you a palace full of Citroen's.

    Ha Ha.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Schmidt Wrote: I am not concerned.

    Neither am I. The stock market has been artificially high for far too long and I'm not surprised that it eventually corrected itself.

    It's also important average Americans understand that this has little to nothing to do with them and that fluctuations in the stock market are a natural thing. That is unless they were planning on withdrawing all of their money from their 401k yesterday. If that was the case then I would encourage them to hold off until the market stabilizes.

  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Yes...markets go up and markets go down...up and down...up and down. As a one time investor who learned the lesson the hard way, I can guarantee to you Dutch that the market will go back up. However, as Jared said, if you need to draw out a bunch of money from the market today, well your timing might be bad.

    If you can't stand the ups and downs, then you shouldn't be in the market.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    Yes...markets go up and markets go down...up and down...up and down. As a one time investor who learned the lesson the hard way, I can guarantee to you Dutch that the market will go back up. However, as Jared said, if you need to draw out a bunch of money from the market today, well your timing might be bad.

    If you can't stand the ups and downs, then you shouldn't be in the market.

    Yes Schmidt you are right; however it has an enormous influence on a lot of things; don't you think the price of oil will affect all of our lives. As well as our cost of living. Just look at your medicine cost ( if you have any) it escalates per day; the pharmaceuticals make fortunes right now; look at their stocks. I guess Obama's idea of lowering cost for sick people backfired in a huge way, thanks to the stock market.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Dutch -- The current decline in oil prices predates the drop in the stock markets. The main reason that oil prices have declined is that Saudi Arabia decided that instead of cutting production like they (and OPEC members) have historically done when prices got too low, they did just the opposite...opened up the taps to flood the market with cheap oil, the reason being they were losing market share.

    Wall Street Journal, August 24th: Oil’s Drop Puts Spotlight on Saudi Arabia

    Of course with the reduction in the rate of growth in Chinese economy, projections on how much oil the Chinese would buy is also a factor. But an important point to understand is that the Chinese economy is still growing but not at the 8 percent per year pace of the past. They are still buying oil, but the rate at which they were buying more and more oil has lessened.

    As far as my medicine cost, it would be zero except for my recent illness. And then the cost that I paid for a 10 day supply of antibiotics after getting out of the hospital was about $80. I do not subscribe to the outrageous Medicare Part D premiums. However, I should point out that the high cost of prescription drugs largely predates the Obama administration. This article is a bit dated, but it provides an historical review of how prices started to rise with the Reagan administration policies: The Truth About the Drug Companies. Otherwise my Medicare and Medicare Supplement Plan pretty well covered all my medical costs for a one week hospital stay including major surgery, except for the deductible, which I paid.

    I don't understand your comment, "I guess Obama's idea of lowering cost for sick people backfired in a huge way, thanks to the stock market." Maybe you should explain further. I know you want to blame Obama for everything, but this sounds like a bit of a stretch...something that you might hear on Fox News.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    Dutch -- The current decline in oil prices predates the drop in the stock markets. The main reason that oil prices have declined is that Saudi Arabia decided that instead of cutting production like they (and OPEC members) have historically done when prices got too low, they did just the opposite...opened up the taps to flood the market with cheap oil, the reason being they were losing market share.

    Wall Street Journal, August 24th: Oil’s Drop Puts Spotlight on Saudi Arabia

    Of course with the reduction in the rate of growth in Chinese economy, projections on how much oil the Chinese would buy is also a factor. But an important point to understand is that the Chinese economy is still growing but not at the 8 percent per year pace of the past. They are still buying oil, but the rate at which they were buying more and more oil has lessened.

    As far as my medicine cost, it would be zero except for my recent illness. And then the cost that I paid for a 10 day supply of antibiotics after getting out of the hospital was about $80. I do not subscribe to the outrageous Medicare Part D premiums. However, I should point out that the high cost of prescription drugs largely predates the Obama administration. This article is a bit dated, but it provides an historical review of how prices started to rise with the Reagan administration policies: The Truth About the Drug Companies. Otherwise my Medicare and Medicare Supplement Plan pretty well covered all my medical costs for a one week hospital stay including major surgery, except for the deductible, which I paid.

    I don't understand your comment, "I guess Obama's idea of lowering cost for sick people backfired in a huge way, thanks to the stock market." Maybe you should explain further. I know you want to blame Obama for everything, but this sounds like a bit of a stretch...something that you might hear on Fox News.

    Schmidt; two things, Oil does affect the stock market as well the 1%; just ask the Koch brothers; they have to sell their other invested stocks to cover their losses via the hedge funds; since they have huge losses, then they dump all their investments in other markets/companies etc. About drug companies, we are able to compare things with Europe. Lately my wife experienced huge amounts in her prescriptions and if I look at the drug companies stocks they have skyrocketed lately; may be a bubble but compared to what we paid a couple of years ago just about double for simple drugs. For instance an acid reflux medicine they were asking $228.- checking Europe it cost there $68.-. Luckily our pharmacist found a generic for $18.- . But I'm convinced that these drug companies are playing games.
  • Liberal
    Independent
    Durham, NH
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    My wife has all the money - I just pay the bills for herAstonished