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  • Stocks down, Oil up

    Dow loses 350 points and Oil reaches new record of $140/barrel.

    Discuss.

  • #2
    yawn - I am already beat down.
    Official sponsor of Mike Shannon's Retirement Party

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    • #3
      ...while you motherfuckers bounce to this....
      Official Lounge Sponsor of Candy.


      "When you say 'radical right' today, I think of these moneymaking ventures by fellows like Pat Robertson and others who are trying to take the Republican Party and make a religious organization out of it. If that ever happens, kiss politics goodbye."
      -Barry Goldwater

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      • #4
        Originally posted by Iowa_Card View Post
        Dow loses 350 points and Oil reaches new record of $140/barrel.

        Discuss.
        The three truisms generated by finance:

        1. Buy low/Sell high

        2. A fool and his money will soon part

        3. Money will always revert to its intrinsic value.

        We are experiencing a currency crisis right now, and it's gonna take a while to sort out this mess.

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        • #5
          • The US dollar has now lost more than a third of its value (-35%) against a basket of major currencies since Feb 2002.
          • The decline is accelerating. The USD has shed -12.5% of its value in the last year, -3.5% in the last month, and -1.5% in the last week alone.
          • Other factors include increased world demand and speculation ...the latter will eventually fade away as a driver but only time and discipline will fix the dollar ...as for supply...I have no issue with drilling in banned areas as even in our rosiest scenarios oil is going to be a primary driver in our economy for at least another 20 years...but that tree won't bear fruit for at least 5 years and we need all the energy sources we can get long term...so drill and give tax breaks to encourage the development and adoption of alternatives. Its total bullshit that both parties are using Energy policy as another political football. Most reasonable people agree on the way out of this mess but...the politicians won't do the right things. This is one thing the dipshits ought to be able to agree on.
          Go Cards ...12 in 13.


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          • #6
            Originally posted by King View Post
            The three truisms generated by finance:

            1. Buy low/Sell high

            2. A fool and his money will soon part

            3. Money will always revert to its intrinsic value.

            We are experiencing a currency crisis right now, and it's gonna take a while to sort out this mess.
            My Dad hammered that one all the time...along with "pay yourself first", i.e. Save and "It's not how much you make...its how much you keep".
            Go Cards ...12 in 13.


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