Wall St. braces for more turbulence after worst week in 4 years

[Jcrowley]

Wall St. braces for more turbulence after worst week in 4 years
Saturday March 3, 2007, 6:31 pm


NEW YORK (AFP) - Investors are girding for more turbulence after a grim week on Wall Street and other global markets, as analysts debate whether the slide was a normal "correction" or the start of a broader downturn.

The Dow Jones Industrial Average of 30 blue chips skidded 4.2 percent for the week to close Friday at 12,114.10, in its worst week since March 2003.

The broad-market Standard and Poor's 500 index tumbled 4.4 percent on the week to 1,387.17.

http://au.biz.yahoo.com/070303/33/14jwz.html

[leftofthedial]

1. I hope the whole thing crashes again

maybe Americans will learn this time.

[Tansy_Gold]

2. I agree n/t

.

[hack89]

4. Suffering and misery are just what working class Americans need.

Right. And exactly what are they suppose to learn?

[Vincardog]

6. Working class Americans do notown a big portion of the stocks out there

The top 2% own 80% of the stock and get 90% of the rewards.

[hack89]

7. Every teacher, policeman, fireman ...

who has a retirement fund is dependent on the stock market - where do you think local and state government invest their pension money? And what about all those 401k's? They may not be a huge proportion of the entire stock market but they represent the future retirement of tens of millions of Americans.

And where will the money to create jobs come from without investor money from the stock market? Companies sell stocks and bonds so they can expand - that means jobs for working class Americans.

[1932]

28. 90% of equities are held by 10% of Americans and companies in the last decade

sell stocks so that they can channel more wealth to their top executives.

It's not so much that the market needs or will get a correction. The way Americans do business needs a correction.

[leftofthedial]

19. capitalism results in suffering and misery for working class people

always does. always has.

but it's a lesson we've had to re-learn the hard way every few generations.

[blues90]

9. I'm with you

These fucks don't creat jobs and as far as I am concered only people with money to burn because playing the stock market is like gambling in a casino .

Let the upper cut fall right down here with the rest who suffer and finally feel what it's like . Pricks .

[hack89]

11. Know any teachers?

their pensions depend on the stock market. Same for policemen, firefighters and any other local and state employee. And what about all those workers depending on 401K's - they depend on the stock market.

I'm not rich but I am depending on the stock market for not only my retirement but for my kid's education. your callousness is shockingly illiberal.

[blues90]

14. I know a few teaches

Look , you are talking about a few of the many citizens . The teaches I know are broke and pay for most of their classroom materials .

Now if the market crashes then just maybe all who control and manipulate the market will see just how MOST people suffer by their screwed up market . Perhaps if it is even possible these well off over paid corps and investers along with the the share holders who force the will of the people for their own profit will change their one sided attitude . I doubt this will ever happen .

You seem to be looking out for only yourself here , this is liberal speak ?

Do you actually believe that the markets are fair and are looking out for your future ? Teachers along with the fireman and police are underpaid and many have lost their damn jobs while the stock market just keeps going on the the rich , not you or me . A 401K is about the same as rolling the dice these days unless you invest in the war machine .

[Missy Vixen]

15. Pot. Kettle. Black.

>You seem to be looking out for only yourself here , this is liberal speak ?<

You don't seem to care what happens to any of the millions adding to 401K accounts across the country with their hard work, either.

>A 401K is about the same as rolling the dice these days unless you invest in the war machine .<

It's one of the few tax-free methods for saving for retirement. Since so many on this thread are evidently financial investment experts, I can't wait to read what their solutions will be.

Julie

[blues90]

17. Where do suppose the idea of a 401K came from ?

It is not that I don't care as you assume .

The corporations and the stock market is what is killing this country and no 401K is going to save you or anyone else from this .

I am no expert on the stock market but I do know what it involves and what drives it .

If we had unions and pensions we would not need to invest in some hopeful 401K plan .

If people made a fair and reasonable wage they could save enough to get through retirement and get interest on their savings .

The stock market is what bush wants to do with your social security . You invest , your risk , a fail , you loose .

Look what happened to the dot com stock market .

It's a free country to a point so anyone here can do what they please . Just for the reason I disagree with you or anyone else has no bearing on what happens .

What do you put into your 401K percent wise before your employer contibutes ?

[donco]

24. I'm a teamster, our pension is tied up in the stock market

what would you have our retirees do if the stock market crashed? Maybe you would have them on welfare after fighting the crazy drivers on the road for thirty years. Pardon the disrespect but your nuts.

[blues90]

27. How did the pensions end up in the stock market ?

I was belonged to the teamsters union in 1971 working in union ford dealership shops . But the money was not invested in the stock market back then .

Who desides what to invest in ?

Most people don't have a union , here in southern calif the auto dealers have never had a union .

I read 12% of workers belong to a union .

The sad part with this is most people loose out when the company they work for folds up and leaves the country .

What security does anyone really have these days ?

[donco]

29. It’s been around since 1955mostly in the trucking part of our union.

Started by Jimmie Hoffa the deceased father of the present day leader of our Union. Jimmie senior got caught loaning some of the Pension money to the Las Vegas Mob and went to prison. When he came out of prison he wanted to get his union back, some people took offense at him for wanting the union back, the results nobody knows where Jimmie is to this day.

What is not widely known is that the money that went in to Vegas Was paid back? I wonder how much of the money the retirees at Enron got back? If your company paid into the international Pension fund you most likely have a vested interest in the fund, check it out .the info should be at the link that I provided.

http://www.teamster.org/divisions/Freight/nma/TOC_.htm

[blues90]

34. At the time in ILLinois

The teamsters and the auto union were one of the same . Around 1973 the auto workers contract was up and the dealers wanted to take away our guarantee salery which was $280 per week , anything we booked in hours allowed per repair over 40 hours we got half the shop rate . So we had to strike , the teamsters just went off a long stike so we got $18 per week , they used up the funds .

So I and many had to find shops who paid the same as union shops to exist and there were a few left that did .

I don't see why in this day and age the unions do not invest in private firms or smaller companies who promote good jobs and good service right here in the USA . You know promote real job growth because the stock market is not interested in job growth especially in this country now that we were pulled into this global economy so deeply . We don't have control of what goes on in china and their market but they seem to have control over ours .

[leftofthedial]

31. I'd organize the union to move the money into other investments

that are not corporate scams

for example, buy some of the Treasury bonds we rely on the Saudis and Chinese to buy now.

Allow each local to invest locally in specific enterprises.

[leftofthedial]

20. invest locally

in people

[earth mom]

10. I hate to agree with this sentiment...

because the little guy will no doubt get hurt too...

But, on the other hand...

something has to stop the greed and corruption that is killing this country! :(

[hack89]

12. How does this stop greed and corruption?

I'm not sure I understand your point.

[earth mom]

18. Maybe it won't stop it completely-but it WILL put the brakes on the bastards!

:grr:

[Missy Vixen]

13. Yeah, that's right

>maybe Americans will learn this time.<

When the retirement accounts they are paying into that are the only thing protecting them in the future are decimated, those selfish bastards can live under a bridge, can't they? What do you suggest they learn, besides the fact they are not one of the super-rich?

I continue to be amazed at some of the things I read on this site.

Julie

[leftofthedial]

21. I don't know anyone whose "retirement account" hasn't already been

decimated

Capitalism is a corrupt system that is not designed to operate in the interests of working and middle class people.

If you think the Stock Market will adjust drastically, you should move your savings elsewhere.

Don't whine to me that your only savings are 401K's that the corporations forced you into.

[nadinbrzezinski]

35. Read any histories of the Great Depresion?

if you have, you'd get why this is not a good sentiment.

But hey, whatever trips your trigger, I hope you can look retirees in the face while they stave after loosing their lives savings.

[CANDO]

3. I bailed on Tuesday.

Moved my entire account into my money market. I took the hit on Monday, but gained just a little back on Tuesday. Then just watched and breathed easier the rest of the week. I'm sitting out for awhile.

[BlueIris]

25. Good for you.

It's shaping up to be a hairy year, I think.

[alfredo]

5. What if the bargain hunters don't appear Monday? I was thinking

they would be there picking up good deals. Maybe there are no good deal.

[leftofthedial]

22. There is no good deal in Capitalism for anybody

who matters.

[Demeter]

8. Somebody's Timing Misfired

This wasn't supposed to happen on the GOP's watch....Bush/Cheney/Co is gonna look REALLY bad, now! When Richard Mellon Scaife is angry, you know you're cutting into the muscle (so to speak....)

[OHdem10]

16. China Sneezes and America gets Pneumonia

It seems we are really joined at the hip and our
future lies with a Pinko Commie Economy. he he

No this is serious but the irony is irresistible.

All the Business Types along with FeD Reserve Chm
Bernanke, Treasury Secretary, Paulson running aroung
We have to prevent any legislation or action by
congress that would interfere with China's being
permitted to export their goods into our country.

Are we really a super power?????

[Swede]

23. Nobody lines up to buy gas when the price is high,they do when it's low.

It's called a bargain and lots of people are making money right now because of it.

[teryang]

26. Engineered crash to preserve worthless dollar

The only way to stop gold from going through the crucial 700 dollar level and to keep the dollar from diving down through 80.

Preserve the myth that there is something behind the anemic dollar and US debt instruments.

[MazeRat7]

30. My bet is it continues to retreat.... I'm long on puts in several sectors...

The only long calls I have after last week are for year end in the technology sector.

We will see. But all signs say this thing is going to do more correction.

MZr7

[Yukari Yakumo]

32. The only good that could come out of this...

The only good that could come out of this is that Chimpy would have to eat his words the "nation is strong" (and make him look even more like a horse's ass).

Beyond that, it'll suck for everyone.

[BuelahWitch]

33. He'll never eat his words.

The nation IS strong for the likes of him and his. They don't see anyone else in their myopic view.