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Kelvin Mace

(17,469 posts)

13. Who know?

Reply to ChisolmTrailDem (Original post)

Wed Jan 20, 2016, 02:02 PM

Jan 2016

The stock market, as it is currently regulated, is more a shared delusion than an economic engine. As long as everyone believes, things are fine, but it doesn't take many people bolting to cause a full scale panic.

The banks are heavily invested in oil ventures since, you know, oil prices were going to rise forever, like real estate prices did. And with all of those loans going sour, and China's economy imploding, things are going to get ugly, just in time to blame Obama for it all.

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DOW currently down -520 points. Down over 2000 since Jan 4. The... [View all] ChisolmTrailDem Jan 2016 OP

Only the house knows. Rex Jan 2016 #1

This sounds like a good time for a lecture on the virtues of 401K plans... Orrex Jan 2016 #2

Where do you think most pensions are invested? Travis_0004 Jan 2016 #5

Your question implies that I don't know, which is incorrect and absurd. Orrex Jan 2016 #6

Perhaps, but you haven't demonstrated evidence of it Major Nikon Jan 2016 #21

Every major private and public pension system is heavily invested in the stock market hack89 Jan 2016 #8

Yes, I know. Orrex Jan 2016 #12

pulled mine out last week FreakinDJ Jan 2016 #10

I think this is just a correction. Rybak187 Jan 2016 #3

Let's hope so. KamaAina Jan 2016 #17

Ironically the reason for the collapse is the GOP "drill, baby drill" ideology Major Nikon Jan 2016 #23

It was over 18,000 back in July. I hope these wall street banksters feel the Bern! B Calm Jan 2016 #4

Buying opportunity. NT Elmergantry Jan 2016 #7

Absolutely, Kelvin Mace Jan 2016 #15

Nah There are a lot of people like me. Elmergantry Jan 2016 #18

Its oil prices dropping and Asia not having the best time right now. phleshdef Jan 2016 #9

At 14700 we're officially in a bear market, still have some room to fall davekriss Jan 2016 #11

Who know? Kelvin Mace Jan 2016 #13

It's a reaction to Asia edhopper Jan 2016 #14

I have five more years to work before thinking of retiring...no point in panicing brooklynite Jan 2016 #16

amen. eom Ligyron Jan 2016 #19

Correction nadinbrzezinski Jan 2016 #20

Reality check whatthehey Jan 2016 #22

Oil is plummeting and the banks heavily invested in the industry. Dawson Leery Jan 2016 #24