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Stocks plummet amid continued credit strain
Wall Street tumbled again today, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded more than 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain.
Related article: Dow plunges 800 points amid global sell-off
Posted by: Sammy on 10/06 at 10:30 AM
- 1. · yep- talked to the financial advisor today and he just says put any plans you had on hold- we cant seem tofigure where things are going- will it recover? will it be heading down into anthor 1987 or worse? Give up plans at least for another few months until we know- will life be better- or is it descending to hell.
Oh well, its just money- and our future we've been waiting on for 50+ years.
A man must learn to understand the motives of human beings, their illusions, and their sufferings. einstein
Comment by BJGoodwin on 10/06 at 12:26 PM | [Back to Top] | [Back to Main] - 2. · That joker, Kramer, went on The Today Show this morning and advised people to sell their investments. Sometimes I think that people listen to him more than they do their own advisors! He commands a lot of power for an entertainer.
Comment by Birdman on 10/06 at 12:52 PM | [Back to Top] | [Back to Main] - 3. · That was a little unwise- wasnt it- a panic like that is what causes crashes
A man must learn to understand the motives of human beings, their illusions, and their sufferings. einstein
Comment by BJGoodwin on 10/06 at 04:42 PM | [Back to Top] | [Back to Main] - 4. · Indeed, BJ. The whole reason we have a major credit crunch right now is because banks are refusing to lend money...even to each other. They are hoarding cash because they still have fears that people will start demanding their money. Kramer tried to back off a bit this morning without admitting any fault. He said he stands behind his statement but went on to explain that he meant that anyone who might need cash within the next 5 years should get that money out of the market. There is some truth to that but giving blanket advice to all of America without knowing each individual's risk tolerence, other investments, specific goals and needs, etc., is not prudent.
Comment by Birdman on 10/07 at 09:45 AM | [Back to Top] | [Back to Main]
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