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It's Going To Get Worse Before It Gets Better

| Filed under: Business Blitz

The Dow plunged 679 points yesterday - its lowest level in 5 years.

Happy Friday!

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24 comments to “It's Going To Get Worse Before It Gets Better”

  1. 1

    like we
    needed you
    so called GOSSIP GANSTA
    to tell us that we
    are fucked.

  2. 2

    think positive people.

  3. 3

    We could really have dun without that. It's the people that are scaring themselves into a recession. And you announcing it doesn't help…it just makes it worse……Thanks man/woman. wtg

  4. 4


  5. 5

    And it will continue to go down. If you have private investments, take them out of the stock market now and transfer them to cash. The talking heads will say ride it out, ride it out. No. Move your money from the stock market now to cash savings and minimize the risks. The only things that is making a killing right now is gold. Gold is going thru the roof. But unless you really know what you are doing, keep it in cash for now. Don't take anything directly out of a 401K (or thrift savings, as the government calls it). If you do, you will be taxed on it. Instead, make sure it is in the most conservative fund and very low risk and very diversified.

  6. 6

    And the rescue bill was supposed to do what? Hold your breathe folks. At least oil is in a free fall and OPEC is getting very nervous.

  7. 7

    U R
    NO more 401Kz
    juzt kidding..haha

  8. 8

    Thanks a lot Perez. Like we need your smarmy "happy friday." People are stressed and your just rubbing it in! How rude!!

  9. 9

    Congratulations, Republican America!
    First, senseless and unjustified WARS bringing the world to the edge of nuclear desaster,
    then, financial "behaviour" of your bankers and greedy US managers and corrupted US Politicians bringing the world on the brink of a financial meltdown!
    You ve REALLY MADE IT! You re FINALLY No. 1!!! No. 1 of the countries that are HATED and DISGUSTED MOST by the entire world!

    Stupid IRRESPONSIBLE American Government and GREEDY irresponsible American capitalist system! LOL…I would be lmao if it werent so SAD for the "normal people" world-wide(!) who are because of GREEDY America losing their old-age security.!

  10. 10

    Re: sibbyjaydee
    If you really PREFER to be further cuddled and kept in the DARK about REALITY, then just listen to your MORON Republican President designed to hold one of his "numbing" ridiculous speeches on the economic situation! As if of all people it WERE HIM that understands ANYTHING about it! LOL

    Donb t forget, it was the American way of life, living on mortgages and credits without any credit SECURITIES and the GREED that got the finances of the entire WORLD where they are NOW!
    You are always "admiring" the MONEY GANGSTAS instead of decent managers and politicians! You re living in a DISNEYLAND world, I suppose…

  11. 11

    lol, happy friday

  12. 12

    AND, as was the case with a.o. the Iraq war, your STUPID intellectually challenged President now is howling for HELP from the "international community" (= the G7 Countries!) to come to Washington ans HELP HIM/YOU OUT!
    Privatize the PROFITS, nationalize and internationalize the LOSSES and RISKS = the way the RICH corporate managers and bankers in America and their CORRUPTED political "friends" earn their money and rob their people! You most definitely will VOTE FOR THEM AGAIN, I guess…Lmao…

  13. 13

    oh, I forgot ONE point: What you now see is the so-called "FREE MARKET" promoted and demanded for by neo-liberal and radical libertarian America, the land of the FREE…Lmao… :-)

  14. 14

    By the way: Did anyone read about greedy American top managers and investment bankers and corporate leaders voluntarily waiving their bonuses or their remunerations or their "golden parachutes" or maybe part of their excessive base salaries? No? :-)

  15. 15

    The Dow closed at its lowest in 5 years. Big fucking deal. 5 years ago we were riding high. This is just a correction for over inflated stocks again. "Wow, banks are making money hand over fist, let's invest in them." They were making money like that because they were charging poor people ridiculous fees to fund their bloated salaries. Guess what? We can't pay those prices anymore, so bye bye greedy fat cats. I hope all of the senior management at AIG goes to jail.

  16. 16

    Re: Bavaria
    Hey Mr. quack quack, stfu..go take a long swim.

  17. 17

    In March, Obama proposed that he would pay for his $150 billion green investment through a Windfall Profits Tax. His economic advisers suggested that the tax would generate around $15 billion per year. But when oil prices spiked during the summer, Obama changed his rhetoric and began promising a $500/person energy rebate that would be paid for over a five year period by the same windfall profits tax.
    As a reminder, when Democrats took control of congress in 2006, promising lower energy costs, a barrel of oil was trading around $60. As a result, if oil prices fall to $80 will Obama praise the falling prices, will he alter his proposals, how will he now cover the cost of these plans during a time in which the deficit will likely balloon to over $1 trillion.
    Let's assume today's oil price $83 per barrel and the lower amount of Obama's 20% tax. The tax would generate around 60 Cents per barrel. Considering that the US consumes 20 million barrels per day, the WPT would generate $4.4 Billion dollars per year; far short of the amount needed to fund Obama's energy proposals.

  18. 18

    Now let's assume that oil jumped to $120 per barrel; the tax would now generate $8 per barrel. Considering US consumption, that would result in a tax of $58.4 Billion per year; over 1/3 of the entire oil industries profits last year. That is why the WPT is dangerous.
    No oil company would ever choose to produce oil domestically in the U.S. or to import oil into the U.S. under conditions in which they could produce or export oil to nations that do not pose such a penalty. Just as with the first WPT, collection efforts would create huge costs and massive bureaucracy, domestic production and importation would fall and revenue would never meet expectations.
    Falling oil prices are good news for the American public and should serve as a wake up call that the only way that Senator Obama's energy plans would work are if prices remained artificially high and if oil companies were to magically accept the destruction of their profits.

  19. 19

    Thanks to Chris Dodd, Barney Frank, Obama, Pelosi, Bill Clinton, and, to be fair, any of the republicans who chose not to regulate the mortgage industry that was lending to people who NEVER should have been in houses to begin with. HOUSES are expensive- they require maintenance, tax payments, insurance payments and alot of physical work. NOT everyone belongs in a HOUSE! Even condos have condo fees that have to be paid. But NOOOOOOO= in a world where EVERYONE thinks they should have EVERYTHING, the "reelect me" politicians found a gold mind in Freddie/Fannie. INDICT them all. And PAY YOUR credit cards down - because if those totally fail, the US and the world economy is screwed. Which means your PARENTS will be living with YOU one day. That ought to motivate you.

  20. 20

    Yo gay boy…… stick to fashion!!!!!!!!!!!!!!!!!!

  21. 21

    Re: SheriMoonZombie
    No, I don t feel like wanting to! :-) :-) QWAKK! :-)

  22. 22

    Re: Cherry Bomb
    I don t know what the requirements for mortgages are in the USA, but in Germany at least it s MANDATORY that you have at least 40-50 % CAPITAL first before you get any CREDIT for purchasing a house! That s why by far the most Germans live in RENTED houses and flats and do NOT own them…. :-)
    I think it s all about GREED which started this worldwide desaster in the USA…greedy corrupted(!) politicians, greedy managers, greedy bankers and greety big-mouthed but stupid greedy young irresponsible so-called "managers"…

  23. 23

    Can someone help me understand this……….You're a middle to lower class statued individual and you make X dollars a month and you know what your budget is and a what you can afford and someone offers you a loan for a home or a 2nd mort. that's way to good to be true and you're told that in 5 years, you're going to have to be responsible for the note on this house. You agree and then 5 years later, as informed, the mort payment goes up and you can't afford it and somehow it's the government's fault, better yet George Bush is to blame for everything and if your taxes were lower and Joe Biden could fight to have your principle reduced, the world would be peaches. I don't get it.

  24. 24

    ……I own a home that I paid top dollar for and was in debt up to my ears after living foot loose and fancy free. I worked the numbers on what I made and what I my bills were and paid off $10k in extra debt in 2 years. It SUCKED big time and I didn't keep up with the jones's, but I'm almost out of debt, still upside down by 30k on my home, but take it all on as my responsibility. I've changed jobs and have not had it easy, but I know what the bottom line is and I DO THE FUCKING MATH. I don't get the "Obama's going to lower your taxes BS" I don't mind paying my taxes. Just don't raise them and I'll be fine. AGAIN…………….DO THE MATH!