5.5% Of Invested Wealth Was Destroyed Today!

chickaree wrote: The only wealth destroyed today was anyone stupid enough to panic sell. Anyone that panics souldn't be in the market in the first place.

Not entirely, people like Bill Gates will often use dollar cost averaging to decrease the size of a sttck investment, so they will sell some Microsoft as an example every month as a hedge. They might lose some money selling this way, but if the market continues to tank for the next sixth months as the double dip recession becomes reality, it will look like a smart call.

Carlos Slim lost billions last week in paper profits and Bill Gates lost a billion just today. That much less money that can go to his charities. Who will suffer in Africa?

But the people who hate the rich are happy that Bill Gates took a kit.

http://money.cnn.com/data/world_markets/asia/


The world markets are getting worse. Yuck. I expected today. My worry is the rest of the week.

So which will come first? 10,000 or 12,000 again? Or will we even go lower?

This is something that has never happened before.
I do not see us going higher before 10,000 at least.
It really depends on what the government does.

The legacy of Democrats.... uh, nothing.

I'd say that Bill Clinton's legacy is under-stated. It was one of the more successful presidencies.

bailey bud wrote: I'd say that Bill Clinton's legacy is under-stated. It was one of the more successful presidencies.

Looks like Obama needs some Clinton magic for sure. Maybe he should abdicate and let Hilary take his place.

Ouch- another bad one folks.

10,719.94 -519.83 -4.62%

The price of gold surpassed $1,800 an ounce Wednesday for the first time as investors pulled their money out of stocks and snapped up precious metals contracts.

If the government thinks things were bad before- it's getting worse fast.

People losing their money don't buy big ticket items like cars, houses, boats, computers. Instead they stop buying.

And guess what- companies who lose their value don't hire new employees, and those companies don't pay as much taxes - and neither do the people who didn't get the job that the companies didn't create.

The American dream is fading fast.

HEARTLESS wrote: Smarter than Odumbo? Without a doubt.

I'll bet Paris is smarter than you, I'll bet she even knows how to spell the president's name.

Maybe she can be Odumbo's VP.