DOW JONES IN REVERSE!!!! - Updated

[Pedronicus]

how low did it get during the worst of the 30's depression ?

[Fruitcake]

how low did it get during the worst of the 30's depression ?

It's not about the points it dropped to, more the total % loss. This bear market started from a far higher plateau. For Dow to drop below 1000 points means a 90%+ loss rate which I cannot see happening.

[captainwalrus]

The stimulus package will probably not do much. It has too many tax cuts, not enough infrastructure funding and money to state governments. I blame Republicans for their obstructionism, and I blame Democrats for their weak attempt at bipartisanship, compromising before negotiations even began.

I second that.

[THE ARMY]

the DJ went below 6,500 today to a low of 6,474.89. Not too long ago we were pondering whether or not it could break the 7000 barrier, now we ask ourselves, will it break the 6000 barrier?

[Joodoo]

the DJ went below 6,500 today to a low of 6,474.89. Not too long ago we were pondering whether or not it could break the 7000 barrier, now we ask ourselves, will it break the 6000 barrier?

ask Paulson...or Buffett

[Pedronicus]

Legalise drugs and tax them. The world needs to find additional methods of raising taxes and creating jobs (where those people in a job pay taxes.)

The global trade in illegal drugs is worth billions of dollars a year - as much, by some estimates, as the international tourist trade. The huge sums of money at stake make it one of the most lucrative and dangerous of criminal businesses. Globalisation, banking deregulation and free trade agreements play into the hands of drugs syndicates, some of which have the organisation and reach of multinational businesses.

I'm not just talking about ganja here - Legalise the whole lot.
The majority of us on CC live in countries that advocate freedom of choice. There are too many people on the planet for the planet to keep alive, so if a few thousand more people die because they wanted to inject a large dose of heroin - then good.

[Fruitcake]

the DJ went below 6,500 today to a low of 6,474.89. Not too long ago we were pondering whether or not it could break the 7000 barrier, now we ask ourselves, will it break the 6000 barrier?

With respect, you may have been wondering, I never did, I assumed it would break 7,000 on the way down, just as I assumed FTSE would break 3750 in the same way.

The acid test is to forecast where you think the bottom will be.

[THE ARMY]

Legalizing drugs and taxing them won't work. People will get around taxing by continuing to make them illegal. Trust the experts, and not the "experts" of economy the real EXPERTS, im talking about the underground free masons or skull and bones. America is capitalistic and we do EVERYTHING to enhance our economy, including invading Iraq to have a future OIL producing ally. The reason we haven't legalized drugs isn't because it is immoral, its simply because we would lose money overall. I'm not about to debate the issue cuz that would take forever, just know that if widespread legalization were formed then in the long run we would lose more money overall than gain.

Legalise drugs and tax them. The world needs to find additional methods of raising taxes and creating jobs (where those people in a job pay taxes.)

The global trade in illegal drugs is worth billions of dollars a year - as much, by some estimates, as the international tourist trade. The huge sums of money at stake make it one of the most lucrative and dangerous of criminal businesses. Globalisation, banking deregulation and free trade agreements play into the hands of drugs syndicates, some of which have the organisation and reach of multinational businesses.

I'm not just talking about ganja here - Legalise the whole lot.
The majority of us on CC live in countries that advocate freedom of choice. There are too many people on the planet for the planet to keep alive, so if a few thousand more people die because they wanted to inject a large dose of heroin - then good.

[Timminz]

The reason we haven't legalized drugs isn't because it is immoral, its simply because we would lose money overall. I'm not about to debate the issue cuz that would take forever, just know that if widespread legalization were formed then in the long run we would lose more money overall than gain.

Explain to me how taxing a previously un-taxed line of products, as well as being able to tax the income made by people producing, and selling these products, combined with the BILLIONS of dollars a year that would be saved by not fighting the "drug war", could possibly bring in less money.


Back on topic, who else was smart and bought stock in Canadian banks last week?

[Fruitcake]

Back on topic, who else was smart and bought stock in Canadian banks last week?

certainly not me, missed that one. I suppose I'll have to make do with Kazakhmys stock trade I managed.

[Timminz]

Back on topic, who else was smart and bought stock in Canadian banks last week?

certainly not me, missed that one. I suppose I'll have to make do with Kazakhmys stock trade I managed.

Me neither I don't have the funds available to be playing the markets. My father, and a few people I work with made some pretty wise choices though. You see folks, up here in Canada we have these things called regulations, which have managed to keep our financial industry from collapsing on us.

[THE ARMY]

First of all by keeping the drugs Ilegal we provide jobs to hundreds of thousands of people. The jobs included while keeping it illegal are Border Patrol, Coast Gaurd, ICE, Police, Minor Drug dealars, Drug Lords so on and so on. If we were to make drugs legal would we no longer need many of these jobs. Also you can't tax the most popular drugs like marijuana because nobody would buy it from a professional company, people would simply grow their own. Its called weed for a reason and that is because it is relatively easy to grow. If people had the choice of growing their own 'low upkeep' plant or buying a pack of joints for $7 the would deffinitely grow their own. Surely you would have people that do buy from the stores and that would be taxable but it would not outweigh the amount of positive economic outcomes from keeping it illegal.

The reason we haven't legalized drugs isn't because it is immoral, its simply because we would lose money overall. I'm not about to debate the issue cuz that would take forever, just know that if widespread legalization were formed then in the long run we would lose more money overall than gain.

Explain to me how taxing a previously un-taxed line of products, as well as being able to tax the income made by people producing, and selling these products, combined with the BILLIONS of dollars a year that would be saved by not fighting the "drug war", could possibly bring in less money.


Back on topic, who else was smart and bought stock in Canadian banks last week?

[Timminz]

First of all by keeping the drugs Ilegal we provide jobs to hundreds of thousands of people. The jobs included while keeping it illegal are Border Patrol, Coast Gaurd, ICE, Police, Minor Drug dealars, Drug Lords so on and so on. If we were to make drugs legal would we no longer need many of these jobs. Also you can't tax the most popular drugs like marijuana because nobody would buy it from a professional company, people would simply grow their own. Its called weed for a reason and that is because it is relatively easy to grow. If people had the choice of growing their own 'low upkeep' plant or buying a pack of joints for $7 the would deffinitely grow their own. Surely you would have people that do buy from the stores and that would be taxable but it would not outweigh the amount of positive economic outcomes from keeping it illegal.

All those jobs would still be useful. The legal ones, such as police, could be better utilizing their time and resources to fight actual crime, and the (currently) illegal ones would become proper professions, from which income taxes could be collected. As for people growing their own, I could grow my own tomatoes easily, yet I still choose to buy them at the store, since I don't have the time, or desire to cultivate produce. Also, the quality available from "commercial" marijuana would be FAR superior to anything a relatively new grower could produce. Even a seasoned grower would require a greater commitment of time, and money than you seem to think. You are correct in thinking that the reason it stays illegal is a financial one. The reason is that there are numerous large companies that believe (some rightfully) that they would lose a lot of their business. Tobacco, alcohol, pharmaceuticals, and big chemical companies, for example, all oppose legalization because it is seen as something that would hurt their bottom line. Large corporations hold a ridiculously large sway in the legislation in the western world, especially the US, and so if something is seen as a possible threat to their profit, they will do whatever they can to keep it from taking their money.

So, how about that Dow Jones?

[THE ARMY]

hahaha yeah how about it? seriously though this could get really scary.

[Fruitcake]

So, how about that Dow Jones?

How about it?

Are you going to post where you think the bottom will be? If so, while you are about it, post where you think the FTSE will bottom out as well.

[Timminz]

So, how about that Dow Jones?

How about it?

Are you going to post where you think the bottom will be? If so, while you are about it, post where you think the FTSE will bottom out as well.

Sorry, I don't know nearly enough about the markets to make any sort of informed estimate as to where the bottom might be.

[Fruitcake]

So, how about that Dow Jones?

How about it?

Are you going to post where you think the bottom will be? If so, while you are about it, post where you think the FTSE will bottom out as well.

Sorry, I don't know nearly enough about the markets to make any sort of informed estimate as to where the bottom might be.

I will start buying in if I see The Dow Jones industrial average approach 6,000. I have a sneaky sus. that I may have to lift that figure slightly. if it drops below that then I shall keep buying in as it goes down. Taking a medium term view it is already undervalued in many ways. It dropped to under 6,500 recently but has had a small rally since then. However, I don't see this rally as the main event, that is still to come.

I should point out that I do not use the DJ index as a benchmark so much any more, I feel it is better to use a more broadly based index, such as the S&P 500 index.

I have already stated my views on the FTSE numbers.