[NoKids]

that's how much money was lost today.

[blue-coupe]

I haven't had the courage to look at my 401k for over a year now. At least I have a long time until retirement!

[aut0sh0cker]

$1.2 trillion... down the gutter...

[Voltigeur]

The negative wealth effects so much more than that - trillions lost in res real estate also. Debt spreads have widened ... I have a chart of change in household wealth, gone decidedly negative in Y/Y % terms.

Stocks have offered nada by way of real returns in over a decade (S&P 500 net inflation).
Can't retire on that...

[mPlasticDesign]

Originally Posted by NoKids

that's how much money was lost today.

Link please... I wonder how they come up with that number?

[JBZ4]

LINK



http://money.cnn.com/2008/09/29/mark...ex.htm?cnn=yes

[MJC///M3]

We are now seeing the result of years and years of poor lending standards, the Fed's inability to accurately control the Money Supply(the dollar in relative terms has lost 95% of its purchasing power since Congress was allowed to "coin" money by our Constitution), and the psychotic notion that consumption and expenditure can lead to wealth and prosperity. We are in perhaps one of the greatest financial perils of all time. Bernanke and Paulson, eight months ago said that the subprime meltdown was "contained," what a crock.....it amazes me how these people get these jobs. Best of luck too all, things will hopefully turn around someday.

[Oregano123]

Originally Posted by NoKids

that's how much money was lost today.

its a correction. not really a loss per se

[oldaccount]

Originally Posted by cars4lyfe

Materialism-the biggest lie ever told. To me, my family is more important than all this man-made b/s. Enjoy life, you were all born w/o stocks and bonds and louis vuitton bags.

I agree with this, but at the same time, I do want to be able to afford an M3/RS6 Avant/911 turbo/LP640/Koenigsegg/whatever one day, and I dont want to have to pay $11 for a gallon of milk; so the situation needs to be handled.

[louz4]

Another idiotic comment from nobrains. The downturn would represent a loss of 1.2 trillion only if every person holding stock at a loss sold it the same day. You can bet this U.S. hater will have nothing to say when the market rebounds. And like the press looking to enlarge and sensationalize he quotes numbers he doesn't understand. Does anyone know what this stock was purchased for. If a stock is purchased for a dollar then rises to three dollars over a period of two years, then falls to two in one day is that a loss. No, it is as someone has already said a correction. Ten years ago people in my home state bought homes for a hundred thousand. In 2006 they were selling them for two hundred fifty thousand. Now the value of these homes is around one fifty. Now have these homes lost a hundred or gain fifty thousand. Some would say it depends on when you bought or sold. But its a not loss or a gain its simply a correction.
And the stock market will come back. As will the housing market. In spite of the chicken littles of the world screaming, the sky is falling. In time I believe most economists will consider this difficult period a healthy correction. After all we have just seen a long period of economic properity that was not always based in reality. Is one share of google really worth hundreds of dollars. The real book value of this and hundreds of companys is much lower than the stock value. this is fine when times are good but, like trying to look rich when your not sooner or later it will bite you on the ass. A very large correction is what we have here. My advice is if you have cash find solid companies and buy.

[NoKids]

Originally Posted by louz4

Another idiotic comment from nobrains. The downturn would represent a loss of 1.2 trillion only if every person holding stock at a loss sold it the same day. You can bet this U.S. hater will have nothing to say when the market rebounds. And like the press looking to enlarge and sensationalize he quotes numbers he doesn't understand. Does anyone know what this stock was purchased for. If a stock is purchased for a dollar then rises to three dollars over a period of two years, then falls to two in one day is that a loss. No, it is as someone has already said a correction. Ten years ago people in my home state bought homes for a hundred thousand. In 2006 they were selling them for two hundred fifty thousand. Now the value of these homes is around one fifty. Now have these homes lost a hundred or gain fifty thousand. Some would say it depends on when you bought or sold. But its a not loss or a gain its simply a correction.
And the stock market will come back. As will the housing market. In spite of the chicken littles of the world screaming, the sky is falling. In time I believe most economists will consider this difficult period a healthy correction. After all we have just seen a long period of economic properity that was not always based in reality. Is one share of google really worth hundreds of dollars. The real book value of this and hundreds of companys is much lower than the stock value. this is fine when times are good but, like trying to look rich when your not sooner or later it will bite you on the ass. A very large correction is what we have here. My advice is if you have cash find solid companies and buy.

get off my ass paparazzi

[jaiman]

Originally Posted by louz4

Another idiotic comment from nobrains. The downturn would represent a loss of 1.2 trillion only if every person holding stock at a loss sold it the same day. You can bet this U.S. hater will have nothing to say when the market rebounds. And like the press looking to enlarge and sensationalize he quotes numbers he doesn't understand. Does anyone know what this stock was purchased for. If a stock is purchased for a dollar then rises to three dollars over a period of two years, then falls to two in one day is that a loss. No, it is as someone has already said a correction. Ten years ago people in my home state bought homes for a hundred thousand. In 2006 they were selling them for two hundred fifty thousand. Now the value of these homes is around one fifty. Now have these homes lost a hundred or gain fifty thousand. Some would say it depends on when you bought or sold. But its a not loss or a gain its simply a correction.
And the stock market will come back. As will the housing market. In spite of the chicken littles of the world screaming, the sky is falling. In time I believe most economists will consider this difficult period a healthy correction. After all we have just seen a long period of economic properity that was not always based in reality. Is one share of google really worth hundreds of dollars. The real book value of this and hundreds of companys is much lower than the stock value. this is fine when times are good but, like trying to look rich when your not sooner or later it will bite you on the ass. A very large correction is what we have here. My advice is if you have cash find solid companies and buy.

If the value of the S&P yesterday was 15 trillion and today it is 13.8 trillion that is a loss of value. Regardless when people bought the shares.

[fasterthanyours]

The general thought i was hearing from everyone that the last 250 to 350 points during the last 1 hour of trading were automated trades.

Which was confirm the next morning when the DJ jumped like 300 points in early morning trading.

[louz4]

Originally Posted by jaiman

If the value of the S&P yesterday was 15 trillion and today it is 13.8 trillion that is a loss of value. Regardless when people bought the shares.

I think I agree if what you are saying is this is a one day loss in value. And you realize when the S&P comes back (which it has) no one will jump in to congragulate us on the workings of the system. This is a paper loss. The market will come back. So will the real estate market for that matter, but that will take years. What I was commenting on was a quickness to cry out about the sky falling and the silence when it doesn't.