Poll

7 votes (63.63%)
5 votes (45.45%)
4 votes (36.36%)
2 votes (18.18%)
2 votes (18.18%)
3 votes (27.27%)

11 members have voted

petroglyph
petroglyph
Joined: Jan 3, 2013
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August 24th, 2015 at 3:18:10 PM permalink
Quote: EvenBob

Down over 1000 this morning, headed that way again
at 3pm EST. FOX business is covering it without commercial
breaks. Some are predicting insane mode in the last 15 min.

This is more evidence that we are not experiencing capitalism.

The DOW does not lose 7% of it's value in ten minutes. The banks [hedge funds] that were bailed out against the will of the people in '08 now are the largest manipulators of equity prices in the world.

Capitalism would allow bad banks to fail and good ones to be resurrected in their place. They are now just weapons of economic destruction for the PTB waging war by other means.

The people be damned. A lot of retirement funds got spanked hard today. Those were real dollars, earned, and then evaporated by the moneyed interests.

There is some extinction level events going on in the currency wars that aren't being portrayed openly or honestly . The petro dollar is floundering but so is every other fiat. The central banks are going "all in".
rxwine
rxwine
Joined: Feb 28, 2010
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August 24th, 2015 at 3:29:43 PM permalink
Quote: petroglyph

Capitalism would allow bad banks to fail and good ones to be resurrected in their place.



I just don't see how it can work well with too few and too big at the same time.

I remember when they split Ma Bell. While I wouldn't necessarily say things are better for the consumer since cost wise, there is at least no dependency on one phone company doing everything, or failing at everything.
The Hall of Unverified Claims is a vast place with many shelves.
petroglyph
petroglyph
Joined: Jan 3, 2013
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August 24th, 2015 at 4:30:31 PM permalink
Quote: rxwine

I just don't see how it can work well with too few and too big at the same time.

I remember when they split Ma Bell. While I wouldn't necessarily say things are better for the consumer since cost wise, there is at least no dependency on one phone company doing everything, or failing at everything.

This is a one minute window today.
These are the blue chippest of blue chips stocks. This is where old people or those that just want "return of their capitol "go, who aren't concerned so much with return "on their capitol"

Almost everyone has stops on their accounts, and it plummeted so fast that it ran the stops. When the retirement account computers caught up with the drop, they sold, at a huge loss and didn't get to buy in again on the way back up without paying a vig on every purchase.

This is what Clinton signing away Glass Stegal and deregulating the markets along with HFT trading algorhythyms have done, with the blessing of the SEC. The TBTF's are raping the retirement accounts now of what is left, while John Corzine walks around free.

They won't get elected but Sanders, Paul, Warren or Ron Paul are the only ones talking about this stuff before it is mainstreet pain.
Ahigh
Ahigh
Joined: May 19, 2010
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August 24th, 2015 at 5:12:00 PM permalink
Crazy. Great post, petro.
http://dumbass.website
teddys
teddys
Joined: Nov 14, 2009
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August 24th, 2015 at 6:37:30 PM permalink
Beats around the bush, but true. The stock market simply isn't the place for individual investors anymore. Certainly not individual stocks. Your best hope is just to put it into the broadest-based low cost mutual fund or ETF. And hope you don't get screwed by the big players -- the hedge funds, banks, and pension funds. They are the ones that move the needle; not Jane and Joe Bloggs that used to in the 20's through the 90's.

They will always know more than you. You just don't have the time, expertise, or resources that these guys have.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
beachbumbabs
Administrator
beachbumbabs
Joined: May 21, 2013
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August 25th, 2015 at 4:29:48 AM permalink
Although the original post was 2+years ago, reference today: up 300+. For the week; down 500 from close last Friday. Or so my crystal ball says. :)
If the House lost every hand, they wouldn't deal the game.
Paradigm
Paradigm
Joined: Feb 24, 2011
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August 25th, 2015 at 6:01:47 AM permalink
Most ordinary people do not have stops on their accounts, particularly retirement accounts. Retirement accounts typically hold mutual funds that don't even trade interday, that is particularly the case for 401(k) plans. If you have gotten your IRA into the ETF's and put stop losses in place on Iong term retirement accounts funds, than what is the saying "a fool and his money.....".......nobody seems to jump up and down about some conspiracy of big money/big banks and how there is no way the individual investor has a chance in the equity markets when the market is at all time highs......but I know, it's been decades,.....errrrr years.....errrr months since we have seen a high on the S&P 500!
odiousgambit
odiousgambit
Joined: Nov 9, 2009
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August 25th, 2015 at 6:29:00 AM permalink
it's a thrilling ride we are having. Don't get off at the wrong spot.

the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
MrV
MrV
Joined: Feb 13, 2010
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August 25th, 2015 at 6:56:14 AM permalink
What a difference a day makes.
"What, me worry?"
AZDuffman
AZDuffman
Joined: Nov 2, 2009
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August 25th, 2015 at 7:17:25 AM permalink
Quote: MrV

What a difference a day makes.



It never goes straight down. This market is on the Blue Sky Meth of free money. Dumped my equity funds yesterday. Getting to look too much like early 2008.
All animals are equal, but some are more equal than others

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