Lot’s of bloody noses on Wall Street today

[GoUSC]

I work in shopping center development so I, for one, have something to be worried about. However, we have a good portfolio of operating centers to carry us in a down market. If need be I can cut back my hours during the lull periods, work on just entitlement projects (we have several big projects in Entitlement that will take 2+ years), and travel a bit. I have prepped for this by getting rid of all my debt and moving to investments that generate secure steady incomes.

[bsrsharma]

Recessions are like going on diet for the economy. It squeezes out the waste and makes the overall economy more productive and efficient. Without it, all economy would be like Detroit – slowly inching towards certain demise. For example, in the coming recession, huge number of realtors, homebuilders, mortgage workers, appraisers, home improvement workers, contractors etc., may all lose their jobs. Individually, this is very painful for them, but when they start doing something else, that adds to the economy. Meanwhile, removal of all that unnecessary labor will reduce transaction costs for homes.

[bsrsharma]

Recessions are like going on diet for the economy. It squeezes out the waste and makes the overall economy more productive and efficient. Without it, all economy would be like Detroit – slowly inching towards certain demise. For example, in the coming recession, huge number of realtors, homebuilders, mortgage workers, appraisers, home improvement workers, contractors etc., may all lose their jobs. Individually, this is very painful for them, but when they start doing something else, that adds to the economy. Meanwhile, removal of all that unnecessary labor will reduce transaction costs for homes.

[HereWeGo]

I took almost all my investments to cash on Wed. Amazing that over a 10 day period, I lost about 66% of my gains over the year, but hey I’m happy with what remains. I felt like a complete panic monkey on Thurs when the market jumped 100 pts, but now, barring action by the Fed, I just don’t see how the markets can rise or even stabilize. Equity owners will take it on the chin as hedge funds sell into rallies to pay off insanely monied investors spooked by the fixed income market craziness.

I really hope the Fed moves on Tues and makes me look foolish. But if the Fed just changes its language, then look out below.

[HereWeGo]

I took almost all my investments to cash on Wed. Amazing that over a 10 day period, I lost about 66% of my gains over the year, but hey I’m happy with what remains. I felt like a complete panic monkey on Thurs when the market jumped 100 pts, but now, barring action by the Fed, I just don’t see how the markets can rise or even stabilize. Equity owners will take it on the chin as hedge funds sell into rallies to pay off insanely monied investors spooked by the fixed income market craziness.

I really hope the Fed moves on Tues and makes me look foolish. But if the Fed just changes its language, then look out below.

[one_muggle]

Hope you still have a job if a recession hits 🙁

Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I’ve said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I’ve family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.

Those who wasted these past “summer months” without setting aside some nuts for winter will have some lean times ahead. Maybe they’ll become a bit more cautious next time.

-one muggle

[one_muggle]

Hope you still have a job if a recession hits 🙁

Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I’ve said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I’ve family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.

Those who wasted these past “summer months” without setting aside some nuts for winter will have some lean times ahead. Maybe they’ll become a bit more cautious next time.

-one muggle

[drunkle]

bear stearns to eat it on monday? ousting of the president…

january 08 for the stock market collapse? credit contraction, housing implosion leading to an abysmal christmas season reporting in jan 08?

[drunkle]

bear stearns to eat it on monday? ousting of the president…

january 08 for the stock market collapse? credit contraction, housing implosion leading to an abysmal christmas season reporting in jan 08?

[SD Realtor]

bsrsharma –

Actually I beg to differ. All of the fat is already being trimmed in the industries you mentioned. In fact by the time the recession hits, those industries will be close to 100% shaken out as they have already been shedding jobs the past 18 months. Think about a general slowdown all around. As companies contract R/D slows down, production slows down, funding for new projects gets put on hold. Retail sectors slow down… I can go on and on. I am not debating whether a recession is good or bad for an economy. However vulnerability to many more professions is alot more prevalent then you have indicated. I would gather that many posters here have not been through a full blown recession.

SD Realtor

[SD Realtor]

bsrsharma –

Actually I beg to differ. All of the fat is already being trimmed in the industries you mentioned. In fact by the time the recession hits, those industries will be close to 100% shaken out as they have already been shedding jobs the past 18 months. Think about a general slowdown all around. As companies contract R/D slows down, production slows down, funding for new projects gets put on hold. Retail sectors slow down… I can go on and on. I am not debating whether a recession is good or bad for an economy. However vulnerability to many more professions is alot more prevalent then you have indicated. I would gather that many posters here have not been through a full blown recession.

SD Realtor

[Coronita]

Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I've said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I've family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.

Those who wasted these past "summer months" without setting aside some nuts for winter will have some lean times ahead. Maybe they'll become a bit more cautious next time.

 

 

 

I think *most* people here on piggington praying cheeering for a recession are themselves going to get hit the hardest. Like I said before, my observation is *most* of the bitter folks here are no better than the average american. It's no different than the dot bomb. At first the folks not really tech workers jeered when the dot bomb crashed. Then pretty soon they found out directly or indirectly they're work was somehow tied to the dot bomb companies, so they got affected worse. Unless you're one of the people who can say "i don't need to work, I can retire right now", you're going to eat it with a recession. Because remember, there's a pecking order to people who are going to eat it. iMy question is, how many of you wishing for a recession can raise their hand and say, even with 50% cut in my portfolio and assets, I'm still over a million in liquidable assets. I would only consider then you somewhat safe in a recession (at least say for a 4-5 year recession). And if it's longer? Better hope you have about $3million.

 

My family might be well off enough to weather a mild recession, and probably come out ahead of most average american…But still, I'm not hoping for one, 'cause I know what the implications will be for everyone. Think hard about that. ARe you really in a position to say you have enough "F U " money?

And about those wall street people…I found out those folks are smarter than most of us… They are the ones in the position to weather this, because frankly they control the markets.

[Coronita]

Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I've said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I've family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.

Those who wasted these past "summer months" without setting aside some nuts for winter will have some lean times ahead. Maybe they'll become a bit more cautious next time.

 

 

 

I think *most* people here on piggington praying cheeering for a recession are themselves going to get hit the hardest. Like I said before, my observation is *most* of the bitter folks here are no better than the average american. It's no different than the dot bomb. At first the folks not really tech workers jeered when the dot bomb crashed. Then pretty soon they found out directly or indirectly they're work was somehow tied to the dot bomb companies, so they got affected worse. Unless you're one of the people who can say "i don't need to work, I can retire right now", you're going to eat it with a recession. Because remember, there's a pecking order to people who are going to eat it. iMy question is, how many of you wishing for a recession can raise their hand and say, even with 50% cut in my portfolio and assets, I'm still over a million in liquidable assets. I would only consider then you somewhat safe in a recession (at least say for a 4-5 year recession). And if it's longer? Better hope you have about $3million.

 

My family might be well off enough to weather a mild recession, and probably come out ahead of most average american…But still, I'm not hoping for one, 'cause I know what the implications will be for everyone. Think hard about that. ARe you really in a position to say you have enough "F U " money?

And about those wall street people…I found out those folks are smarter than most of us… They are the ones in the position to weather this, because frankly they control the markets.

[Coronita]

Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I've said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I've family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.

Those who wasted these past "summer months" without setting aside some nuts for winter will have some lean times ahead. Maybe they'll become a bit more cautious next time.

 

 

 

I think *most* people here on piggington praying cheeering for a recession are themselves going to get hit the hardest. Like I said before, my observation is *most* of the bitter folks here are no better than the average american. It's no different than the dot bomb. At first the folks not really tech workers jeered when the dot bomb crashed. Then pretty soon they found out directly or indirectly they're work was somehow tied to the dot bomb companies, so they got affected worse. Unless you're one of the people who can say "i don't need to work, I can retire right now", you're going to eat it with a recession. Because remember, there's a pecking order to people who are going to eat it. iMy question is, how many of you wishing for a recession can raise their hand and say, even with 50% cut in my portfolio and assets, I'm still over a million in liquidable assets. I would only consider then you somewhat safe in a recession (at least say for a 4-5 year recession). And if it's longer? Better hope you have about $3million.

 

My family might be well off enough to weather a mild recession, and probably come out ahead of most average american…But still, I'm not hoping for one, 'cause I know what the implications will be for everyone. Think hard about that. ARe you really in a position to say you have enough "F U " money?

And about those wall street people…I found out those folks are smarter than most of us… They are the ones in the position to weather this, because frankly they control the markets.

[Coronita]

bsrsharma – Actually I beg to differ. All of the fat is already being trimmed in the industries you mentioned. In fact by the time the recession hits, those industries will be close to 100% shaken out as they have already been shedding jobs the past 18 months. Think about a general slowdown all around. As companies contract R/D slows down, production slows down, funding for new projects gets put on hold. Retail sectors slow down… I can go on and on. I am not debating whether a recession is good or bad for an economy. However vulnerability to many more professions is alot more prevalent then you have indicated. I would gather that many posters here have not been through a full blown recession. SD Realtor

 

Exactly. My parents, my sis, and I have all been through the 80ies, 90ies, and the dot bombs. It's no fun, and we did end up doing better than most folks, but like I said, it's nothing to be cheering for frankly, because everyone gets hurt. It really depends on how you hold out relative to everyone else. I suspect you have a lot of young folks here that never really been through one to understand..

Hope folks here have saved up enough “F U money”.

[Author]

Posts