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Author Topic: Dow hits 2 year low  (Read 5525 times)

LAK

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Re: Dow hits 2 year low
« Reply #25 on: July 03, 2008, 03:14:57 AM »
Right; I hear the BIS were contributers to Ron Paul's campaign too.
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K Frame

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Re: Dow hits 2 year low
« Reply #26 on: July 03, 2008, 03:19:26 AM »
Well, we're now officially in a bear market, oil is broaching more record highs above $145 a barrel, and overseas markets are taking another enormous dump today...

Who needs panic headlines when the real thing is happening?

And yes, I think things are going to get a LOT worse before they even hint at getting better. This is about as perfect a financial storm as I have ever seen. I've come to the conclusion that $200 a barrel oil is no longer a fantasy, it's an inevitability, and I wouldn't at all be surprised to see $250 a barrel. I'm also thinking that the Dow is only starting its drop. I wouldn't be surprised to see 8,000 by the end of this year. The big automakers are getting savaged, even the Japanese manufacturers are being hit, and when that happens, the rest of the industrial sector isn't far behind. This Christmas season is going to be one of the poorest for spending since the 1970, and that's going to set off a chain of retail bankruptcies in 2009.

Hold onto your socks, folks. We've only seen the tip of the iceberg on this one.
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Manedwolf

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Re: Dow hits 2 year low
« Reply #27 on: July 03, 2008, 03:36:55 AM »
Actually, I just saw a report that Honda's sales are up.

There's something to be said for only having two brands, and not killing your own sales with too many competing brands in the same market.

I think Toyota made a mistake by adding Scion to their lineup, it cannibalized their own sales. GM has way way way way too many brands.
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LadySmith

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Re: Dow hits 2 year low
« Reply #28 on: July 03, 2008, 03:41:44 AM »
Quote from: Mike Irwin on July 03, 2008, 02:19:26 AM
Well, we're now officially in a bear market, oil is broaching more record highs above $145 a barrel, and overseas markets are taking another enormous dump today...

Why are gasoline prices going down out here in CA right now? Is it sort of like how tide levels drop right before a tsunami hits?
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K Frame

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Re: Dow hits 2 year low
« Reply #29 on: July 03, 2008, 05:03:10 AM »
I wish prices were going down here in the East, that's for sure. Our prices are a lot better than California's, though.

As for Honda, I'm not surprised. They have, on average, the most fuel efficient cars on the road today.

Unless something happens soon, GM and possibly Ford are going to be kissing bankruptcy very soon.

I really hope that I'm wrong. But I don't think that I am.
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Manedwolf

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Re: Dow hits 2 year low
« Reply #30 on: July 03, 2008, 05:04:13 AM »
Quote from: Mike Irwin on July 03, 2008, 04:03:10 AM
I wish prices were going down here in the East, that's for sure. Our prices are a lot better than California's, though.

As for Honda, I'm not surprised. They have, on average, the most fuel efficient cars on the road today.

Unless something happens soon, GM and possibly Ford are going to be kissing bankruptcy very soon.

I really hope that I'm wrong. But I don't think that I am.

Some analysts are talking about GM and Ford merging and eliminating a lot of their brands like Saturn and Mercury. Hummer is very likely to go, that's for sure. Buick is oddly really popular in China, so it's possible they might move the entire brand there.

That'd be something. FordGM. Millions of gearheads of the past century would spin in their graves!

Also, the Eurozone rate increase might spur more oil buying on speculation, which means that the $150 is likely to happen in the next few days. I wish they'd quit torpedoing the ship that's already listing, it doesn't exactly help the bailing efforts.
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LAK

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Re: Dow hits 2 year low
« Reply #31 on: July 03, 2008, 09:47:06 PM »
Apparently one of GM's errors has been putting too much inventory into SUV and other light trucks. However, GM is also a big military contractor, and have a wide overseas market, so obviously their troubles run deeper than simply producing too many trucks for the domestic market.
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Tallpine

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Re: Dow hits 2 year low
« Reply #32 on: July 04, 2008, 06:16:41 AM »
Quote from: LAK on July 03, 2008, 08:47:06 PM
Apparently one of GM's errors has been putting too much inventory into SUV and other light trucks.

Well, up until the last year or so, that's what they were selling the most of and making money off of.

You still see plenty of pickups being driven around up here.  I'm still waiting to see if the wear and tear on our newer little car on these gravel/dirt roads is going to offset the fuel savings ...  undecided
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El Tejon

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Re: Dow hits 2 year low
« Reply #33 on: July 04, 2008, 06:30:12 AM »
Talked to a former client who is now living in South Bend working for AM.  There will be an announced "retraction" very soon.
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Tallpine

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Re: Dow hits 2 year low
« Reply #34 on: July 04, 2008, 07:09:33 AM »
Quote from: El Tejon on July 04, 2008, 05:30:12 AM
Talked to a former client who is now living in South Bend working for AM.  There will be an announced "retraction" very soon.

A client of yours actually has a job ?  shocked

Well, not for long, I guess ... Sad

You'll probably be getting some "repeat business" Wink
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