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Hello, Bear Market

2008_07_bear.jpgWith oil prices hitting a new record and GM's stock under $10 (last time it was there was when Ike was president), Wall Street officially went into bear market territory, with the Dow ending the day at 11,215.51. And that's just over 20% below the high of 14, 164.53 last October. An analyst told Bloomberg News, "Investor sentiment is clearly miserable right now."

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  • Karen

    Yeah, a good investment would be in porn. And booze. And guns. After all, all of us bitter poor folks take refuge in sex, booze, and violence. And, since we also take refuge in religion, if churches start selling shares...

    Seriously, I'm thinking of getting some GM stock. On the chance that it will go up, if they ever get an electric car on the market.

  • Bottomless Chips

    #1 then that means more inflation.

    I love the transfer of wealth!

    Kidding.

  • #4 Shinobi Shaw:

    it's a bit late to invest in some of those futures. gold especially.

  • Thank you Cheney Family.

  • Think2wice

    Re: [3]

    "#1 then that means more inflation."

    (Sarcasm off)

    Even though Bottomless Chips was being sarcastic, I thank you for elaborating it to the uninitiated reader.

  • Kojak

    To Quote Avenue Q:

    "In volatile market, only stable investment is porn!"

    Trekkie Monster

  • Karen

    GM and all the other car companies knew 30 years ago, that they had to come up with cars and trucks that were more fuel efficient, even ones that ran on something other than gas. They could have started developing an electric car that would run as far on a charge as one today runs on a tank of gas. Don't tell me, that in 30 years, they couldn't have come up with a battery that would run such a car, that would be small, efficient, and cheap to make. I mean, look at cell phones and calculators when they came out-look at how cheap and small a lot of them are now.

    The car companies could have gone in cahoots with electric companies, could have developed wind and solar power farms, could have shifted the monopoly on power-including political power-from the oil companies to the electric companies. Ok, so there'd still be a monopoly, but it'd be better for the environment, and would have bolstered manufacturing in the USA.

    You'd think the electric companies would have jumped at the chance.

    There is still oil out there, to drill. The problem is, increasingly, it is getting harder and harder to get to. Say we start drilling in ANWR. The oil companies will keep the price of oil high, using as excuses, the oil is at the top of the world-there's nothing there, no support buildings for workers, there's no roads to get equipment there, there's a pipeline to be built from there to the refineries, no one will want to work there so we have to pay top dollar to attract good workers who won't want to leave 5 minutes after they get there...there'll always be an excuse to keep oil prices high, now that the oil companies-and the government-have seen how we will still pay the inflated prices for gas, diesel, and heating oil. They have us by the short hairs, and we aren't all that interested, it seems, in pulling away.

    Now. If I, a mere factory worker, can see all this, in fact, could see it coming, whats wrong with DC and Motown?

  • Shinobi Shaw

    Invest in commodities!

    Gold, Silver, Copper, Sugar, Food .....

  • Shinobi Shaw

    #1 then that means more inflation.

    They should abolish the Fed permanently, the Fed is the problem.

  • plk779

    one of the commenters over at wonkette recommended investing in liquor. and y'know, that's really not a bad idea.

  • Bottomless Chips

    Don't worry: The Fed will print more money for them.

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