[IWE] DOW goes into free fall

Jay Mehaffey iwe@warhead.org.uk
Mon, 6 Oct 2008 11:48:39 -0700 (PDT)


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>From: Greg Folkert <greg@gregfolkert.net>

>I predict that the Dow will fall into 8000-8999 range fairly soon.

At the rate things are going, we might hit 9000 in a day or two.
It's down 700 so far today, and the trend is a steady line down.
Another good selling panic and we might hit it today.

>That is about where all this stuff started with the Dot Com Bomb and the
>Housing bubble. Back when you could "borrow" from your own retirement
>accounts and charge your bad-risk self, THOUSANDS of percent in interest
>and penalties.
Yep. Pretty much everything that they gave up getting back to 10,000 was
bubble. It's only now that we are digging into where it should have been.

>Funny how this stuff is coming back to bite all these speculators and
>they are crying now.
I don't mind the speculators crying. They knew going in they where
getting into risky businesses, and if they invested everything in one
long shot, it's their problem when it fails.

It's when they want government bailout money because their business
is too important to let fail that I get irritated. If your company is that
important then why is it invested in risky and unregulated investments?
If the companies finances are that bad, why haven't executive pay
rates been slashed? Why do you object to paying taxes when times
are good but want tax money when times are bad?

One of the things coming out today in the first congressional hearings
related to the bailout and the market is that at the same time they
where begging for federal help, Lehman Brothers was channeling
millions to the executive.

Jay


      
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<html><head><style type="text/css"><!-- DIV {margin:0px;} --></style></head><body><div style="font-family:times new roman,new york,times,serif;font-size:12pt">&gt;From: Greg Folkert &lt;greg@gregfolkert.net&gt;<br><div style="font-family: times new roman,new york,times,serif; font-size: 12pt;"><div style="font-family: arial,helvetica,sans-serif; font-size: 13px;">&gt;I predict that the Dow will fall into 8000-8999 range fairly soon.<br><br>At the rate things are going, we might hit 9000 in a day or two.<br>It's down 700 so far today, and the trend is a steady line down.<br>Another good selling panic and we might hit it today.<br><br>&gt;That is about where all this stuff started with the Dot Com Bomb and the<br>&gt;Housing bubble. Back when you could "borrow" from your own retirement<br>&gt;accounts and charge your bad-risk self, THOUSANDS of percent in interest<br>&gt;and penalties.<br>Yep. Pretty much everything that they gave up getting back to 10,000
 was<br>bubble. It's only now that we are digging into where it should have been.<br><br>&gt;Funny how this stuff is coming back to bite all these speculators and<br>&gt;they are crying now.<br>I don't mind the speculators crying. They knew going in they where<br>getting into risky businesses, and if they invested everything in one<br>long shot, it's their problem when it fails.<br><br>It's when they want government bailout money because their business<br>is too important to let fail that I get irritated. If your company is that<br>important then why is it invested in risky and unregulated investments?<br>If the companies finances are that bad, why haven't executive pay<br>rates been slashed? Why do you object to paying taxes when times<br>are good but want tax money when times are bad?<br><br>One of the things coming out today in the first congressional hearings<br>related to the bailout and the market is that at the same time they<br>where begging for
 federal help, <span style="border-bottom: 1px dashed rgb(0, 102, 204); background: transparent none repeat scroll 0% 0%; cursor: pointer; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" class="yshortcuts" id="lw_1223318232_0">Lehman Brothers</span> was channeling<br>millions to the executive.<br><br>Jay<br><br><br></div></div></div><br>

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