kapkomet Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(BigSqwert @ Jan 18, 2008 -> 08:00 PM) I disagree. We wouldn't need the president to propose an economic stimulus package if the economy was in good shape. Our president is a moron, so what else is new? It's all psychological babble anyway, to be honest. I'm sure when the USTREAS check comes in your mailbox, no matter what your situation, you'll cash the check, now won't you? Link to comment Share on other sites More sharing options...
BigSqwert Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(kapkomet @ Jan 18, 2008 -> 02:12 PM) Our president is a moron, so what else is new? It's all psychological babble anyway, to be honest. I'm sure when the USTREAS check comes in your mailbox, no matter what your situation, you'll cash the check, now won't you? Of course. Going towards the wedding budget. Link to comment Share on other sites More sharing options...
YASNY Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(BigSqwert @ Jan 18, 2008 -> 02:18 PM) Of course. Going towards the wedding budget. So you're going to buy more or prettier flowers instead of feeding the homeless? (I'm sorry, I just couldn't resist) Link to comment Share on other sites More sharing options...
kapkomet Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(BigSqwert @ Jan 18, 2008 -> 08:18 PM) Of course. Going towards the wedding budget. That's nice. Us high wage earners (HAH!) will be subsidizing your wedding now. Seriously, that's funny. Link to comment Share on other sites More sharing options...
BigSqwert Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(YASNY @ Jan 18, 2008 -> 02:24 PM) So you're going to buy more or prettier flowers instead of feeding the homeless? (I'm sorry, I just couldn't resist) My name is not John Edwards. Link to comment Share on other sites More sharing options...
BigSqwert Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(kapkomet @ Jan 18, 2008 -> 02:27 PM) That's nice. Us high wage earners (HAH!) will be subsidizing your wedding now. Seriously, that's funny. Is there a list of things that I will be allowed to spend my check on? Is my wedding excluded? Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(kapkomet @ Jan 18, 2008 -> 02:12 PM) Our president is a moron, so what else is new? It's all psychological babble anyway, to be honest. I'm sure when the USTREAS check comes in your mailbox, no matter what your situation, you'll cash the check, now won't you? Well we all know Tex won't cash the check because he doesn't believe in deficit spending Well him, and all of the people voting for Ron Paul... Link to comment Share on other sites More sharing options...
Balta1701 Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(southsider2k5 @ Jan 18, 2008 -> 12:45 PM) Well him, and all of the people voting for Ron Paul... Except Ron Paul himself. Link to comment Share on other sites More sharing options...
kapkomet Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(BigSqwert @ Jan 18, 2008 -> 08:33 PM) Is there a list of things that I will be allowed to spend my check on? Is my wedding excluded? Oh no... I really didn't mean that as a slam against you, sorry if you took it that way. I like it, in fact. Link to comment Share on other sites More sharing options...
mr_genius Posted January 18, 2008 Share Posted January 18, 2008 (edited) QUOTE(BigSqwert @ Jan 18, 2008 -> 01:20 PM) And don't forget this one... lol, that post was like a year ago when the economy was strong. It's pulling through this big predatory lending scandal and high energy prices. nice try Edited January 18, 2008 by mr_genius Link to comment Share on other sites More sharing options...
mr_genius Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(southsider2k5 @ Jan 18, 2008 -> 02:45 PM) Well we all know Tex won't cash the check because he doesn't believe in deficit spending Well him, and all of the people voting for Ron Paul... I think Ron Paul voters want all their tax money back, not just $800 Link to comment Share on other sites More sharing options...
mr_genius Posted January 18, 2008 Share Posted January 18, 2008 QUOTE(kapkomet @ Jan 18, 2008 -> 01:54 PM) I'll say EXACTLY what I said before. If the overall economy wasn't in good shape THEN or NOW, we would be in a deep recession. You have one sector that is dragging down the whole shooting match, and if the other pillars weren't doing pretty well, we'd all be a lot worse off. BigSqwert is still thinking about a universal house care system. aka, free houses for everyone. it's very simple concept, if your house is free you can afford the payments. duh. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 19, 2008 Share Posted January 19, 2008 http://ap.google.com/article/ALeqM5hRLsCIP...tE2z4gD8U7S25O0 IRS Audits of Millionaires on the Rise By JIM ABRAMS – 1 day ago WASHINGTON (AP) — There's at least one advantage to not being a millionaire — less chance of being audited by the Internal Revenue Service. The tax agency said Thursday that in the 2007 budget year it audited one out of every 11 with incomes of $1 million or more. Among those with incomes of $100,000 or less, 99 out of every 100 escaped further IRS scrutiny. Still, the IRS said its auditing rates were generally up for people of all income levels. The rates were 9.25 percent for those with incomes of more than $1 million, up from 6.3 percent in 2006; 2.87 percent for those with incomes above $200,000, up from 2.57 percent; and 0.93 percent for those earning under $100,000, compared to 0.89 percent the previous year. Overall, the IRS looked at 1,384,563 returns in fiscal 2007, 1.03 percent of the total individual returns of 134.4 million in the previous calendar year. The audit rate was up 7 percent from the previous year. There were 31,382 audits of those with $1 million incomes, up 84 percent from the 17,015 audited in 2006. On the business side, the IRS said the audit focus was on partnerships and mid-market corporations, those with assets between $10 million and $50 million. The returns of 59,516 businesses were audited in 2007, 0.66 percent of the total and compared to 52,223 in 2006. About one out of six large corporations with assets of $10 million and higher was audited, 9,644 out of 57,357, were audited, down slightly from the previous year. The tax agency said its enforcement budget in 2007 was largely unchanged from 2006, so it had to focus on areas of growth and potential risk. It said enforcement revenues in fiscal 2007, from collections and appeals activities, were $59.2 billion, up from $48.7 billion the previous year. The IRS also noted that 57 percent of individual tax filers filed electronically last year, up from 54 percent in 2006. On the Net: * IRS: http://www.irs.gov/ Link to comment Share on other sites More sharing options...
DBAHO Posted January 21, 2008 Share Posted January 21, 2008 Our market is down 3% this morning. Dropped from 6800 in late October/November to 5450 now. I think we've officially hit a Bear Market. Predictions of hitting 5000 are coming in. Link to comment Share on other sites More sharing options...
kapkomet Posted January 21, 2008 Share Posted January 21, 2008 Well tomorrow we will go well into 11K territory, which is a drop well over 2K from the summer highs. The futures are looking at a 400 point drop. I almost am inclined to think we will have a "surprise" by the fed tomorrow morning. Maybe. Link to comment Share on other sites More sharing options...
Balta1701 Posted January 21, 2008 Share Posted January 21, 2008 QUOTE(DBAH0 @ Jan 21, 2008 -> 03:27 PM) Our market is down 3% this morning. Dropped from 6800 in late October/November to 5450 now. I think we've officially hit a Bear Market. Predictions of hitting 5000 are coming in. They don't translate directly to the stock market, but it's probably worth noting that the futures market for the DJIA here in the U.S. is currently off by something like 500 points, suggesting a DEEP drop when things open tomorrow. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 21, 2008 Share Posted January 21, 2008 QUOTE(kapkomet @ Jan 21, 2008 -> 05:29 PM) Well tomorrow we will go well into 11K territory, which is a drop well over 2K from the summer highs. The futures are looking at a 400 point drop. I almost am inclined to think we will have a "surprise" by the fed tomorrow morning. Maybe. I don't think the rest of the world has already priced in the drop that the Dow has seen over the last month. I don't think we will see the huge drop that the rest of the world saw today, though I could be wrong. Link to comment Share on other sites More sharing options...
DBAHO Posted January 22, 2008 Share Posted January 22, 2008 Well we're down a total of 5% now, and I think we just broke through a major support line. It's getting pretty ugly down here, worse day we've had in around 4-5 months. Link to comment Share on other sites More sharing options...
kapkomet Posted January 22, 2008 Share Posted January 22, 2008 QUOTE(southsider2k5 @ Jan 21, 2008 -> 11:31 PM) I don't think the rest of the world has already priced in the drop that the Dow has seen over the last month. I don't think we will see the huge drop that the rest of the world saw today, though I could be wrong. As I said, I almost expect an "interim" half point cut to hit the wires about 7AM CST. Link to comment Share on other sites More sharing options...
DBAHO Posted January 22, 2008 Share Posted January 22, 2008 We finished 7.05% down. Biggest drop in 10 years since the Asian Financial Crisis. A lot of people were saying it was margin lenders dumping their shares though, and not to panic because of China and the demand they have for commodoties. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 22, 2008 Share Posted January 22, 2008 Fed cuts interest rates by 75 basis points WASHINGTON (MarketWatch) -- Acting forcefully against economic risk and financial market meltdown, the Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday. It was the first time the Fed had cut interest rates between meetings since the 9/11 attacks in 2001. "The committee took this action in view of a weakening economic outlook and increasing downside risks to growth," the Federal Open Market Committee said in a statement. Downside risks to growth remain. The committee met on Monday evening. now its officially a panic. Link to comment Share on other sites More sharing options...
kapkomet Posted January 22, 2008 Share Posted January 22, 2008 QUOTE(kapkomet @ Jan 21, 2008 -> 05:29 PM) Well tomorrow we will go well into 11K territory, which is a drop well over 2K from the summer highs. The futures are looking at a 400 point drop. I almost am inclined to think we will have a "surprise" by the fed tomorrow morning. Maybe. QUOTE(kapkomet @ Jan 21, 2008 -> 10:50 PM) As I said, I almost expect an "interim" half point cut to hit the wires about 7AM CST. *Pats self on back* (missed the 50 BP vs. 75 BP, but I knew they were going to react). I agree on the "panic" comment. It's going to get BLOODY. Link to comment Share on other sites More sharing options...
StrangeSox Posted January 22, 2008 Share Posted January 22, 2008 (edited) After racing for a 500 pt. drop at the opening, the market has slowly clawed its way back to within 40 pts. of the opening. Either they like the rate cut or someone slapped some sense into them. Edit: Of course, as soon as I say that, it drops back to -150. Edited January 22, 2008 by StrangeSox Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 22, 2008 Share Posted January 22, 2008 I [heart] volatility We as a company are looking at doing 2.5 to 3 times our usual daily volume of trades Link to comment Share on other sites More sharing options...
Cknolls Posted January 22, 2008 Share Posted January 22, 2008 This is a solvency issue not a liquidity issue. Link to comment Share on other sites More sharing options...
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