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Are you concerned about the decline in the stock market?

Asked at Massachusetts Street on March 1, 2007

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Photo of Ellen Casagrande

“No, it will go back up. The market naturally fluctuates.”

Photo of Chris Braden

“Yes, I am actually, because I do have stocks that are declining right now.”

Photo of Vickie Hane

“Yeah. It got my attention, but I’m going to keep my money in and ride it out.”

Photo of James Hogwood

“No. I didn’t even know about it, so I guess I can’t be too concerned.”

Comments

Ragingbear 7 years, 1 month ago

When the DOW is going down, then that means the economy is improving. When it goes up, that means that there are more people out of work. I am not sure exactly how the entire thing works, but it basically boils down to a way really really rich people and corperations screw the working man once again.

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Pywacket 7 years, 1 month ago

Sue~ I feel honored.

It is cold out tonight! I'd take Tstorms over this any day.

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The_Original_Bob 7 years, 1 month ago

Katie - That'd be your eF5 with the strength of category 1 hurricane force winds. I didn't tell the wife how else I use duct tape, foam padding, and pictures of you.

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Katie_Horner 7 years, 1 month ago

Dearest T.O.B.,

Good job. Was your wife getting suspicious? Did she find our twister game under the bed? Your post should throw her off the trail. I'll alway remember the times that you were my F5 and when you said I was off the Beaufort scale!

...and to everyone else, Winter/Spring aren't over and some of you are going to...you know what!

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jimincountry 7 years, 1 month ago

Of course not! Soon Hillary and Reid and Pelosie will make the rich "market-players" pay and the working class democrats will make things right....or left?... whichever she says is better!

Kidding, I hope!?! The ones I listen to/follow say 10 percent or less and then resume the cyclical bull market "for awhile?!?". Haven't sold .............but wish I had so that I could buy back in for less in the next few weeks or days!

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sunflower_sue 7 years, 1 month ago

Py, that was funny, but for a minute, I thought I was reading something Bea had written...so you get a "damn, Py!"

RI, So don't tell me, you might just let it go!

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beatrice 7 years, 1 month ago

"Somewhat" is a perfectly fine word. It means I'm keeping an eye on the matter, but not letting it consume my time. There is some concern, but a concern that is not equal to worry. I appreciate that the market fluctuates yet climbs with the passage of years. I am in for the long-haul, not the day to day highs and lows. If I were closer to retirement my degree of concern, as the question is stated, would likely be slightly above "somewhat," possibly even to "fairly."

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The_Original_Bob 7 years, 1 month ago

R_I -

"It seems like maybe, pretty much always means no."

Is your wife pulling your chain again?

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RETICENT_IRREVERENT 7 years, 1 month ago

bea, somewhat?

Is that like maybe?

It seems like maybe, pretty much always means no.

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RonBurgandy 7 years, 1 month ago

Yes and no. Maybe a little, but no more than somewhat.

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Bone777 7 years, 1 month ago

You have to be dense not to realize the market was going to decline.

It was an omen the minute that Britney shaved the 'rest' of her hair. ( I saw the previous pictures of her on the internet getting into a car. )

She is now totally hairless.

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Pywacket 7 years, 1 month ago

My money's on Blue "Bluespan" 73Harley's prediction! Once they get that now-putrescent carcass in the ground, the market will recover, tulips will burst forth from the earth, the clouds will roll away, bin Laden will surrender, phred will embrace his Inner Gayness, George Clooney will marry some unknown, but intelligent, age-appropriate, and deserving, Anywoman USA, and Prince Charles (lord be praised) will spring for matching sets of braces for himself and the missus. It will truly become the best of all possible worlds.

Oh--and Michael Jackson will dye his skin black and start a Stitch-N-Bitch chapter to take his mind off little boys.

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dotteboy 7 years, 1 month ago

No, I'm not at all concerned or surprised. The stock market is a big boy, big money game. They are just shuffling their wealth now.

"No, it will go back up. The market naturally fluctuates."

This is what they tell the average sucker to set the hook. And the majority of the money you invest in your 401K goes toward "investment fees".

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Sigmund 7 years, 1 month ago

"Part of that is because China "owns" us in many ways, and our reliance on debt being funded by financial interests outside the US. Get used to it; I just hope I live long enough to see what happens when they cash in."

China doesn't own the US. We have their stuff, they have our paper. Seems like a fair trade, after all what can they do with our paper? They could trade that paper with the US for some of our stuff, or with other nations for their paper or their stuff.

This same xenophobic hysteria happen in the late 60's with all the "petrol dollars" going to the UAE, the Arab's were going to buy all of our farmland, and they did at incredibly high prices right before the value of farmland collapsed. When it collapsed it wasn't the farmers that sold who got hurt, it was the Arab's who bought all that farmland at ridiculous prices.

It happened again in the late 90's when the Japanese were taking all their US dollars from selling electronic and automobiles and besides traveling to the US with their fancy camera's and spending lots of money at tourist traps, bought high tech stocks right before the dot com bubble. To be fair, they also opened up US factories for Toyota, Honda, and Mazda pumping a lot of that that money back to the US.

Now the Chinese are going to buy, what? Whatever they buy they will likely drive the price sky high, right before it too collapses.

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sunflower_sue 7 years, 1 month ago

RI, I watched Elisabeth Shue the other night (w/ kiddies) in "Dreamer." She looks exactly the same as she did 20 years ago. And stop it with the "big words" already. Muliebral? Give me a break. Can'tcha just say "feminine" like normal people? Word snob!

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Shelby 7 years, 1 month ago

I've always called her "Hell-on-Earth" Horner.

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Sigmund 7 years, 1 month ago

"An "economy" is trading promises that "I'll give you more tomorrow than you gave me today"".

That is completely untrue. An economy is made up of an equal trade, Ill give you a dollar today for a dollars worth of stuff today. Even investments in futures contracts and stocks discount tomorrow's value at todays price.

"Bt, the planet is finite. The Providence-given natural resources of the earth are severely stretched (whether oil and gas or the earth's fertility), and further extraction for growth will eventually fail."

Assuming that you are not overstating things just a tad (yes there is a finite number of grains of sand, we are not likely to find that limit anytime soon), then the scarcity you predict would only drive their value up reducing the use of that item. Lot less use of oil at $600/ barrel than $60/barrel. Which is something I would think you would approve of.

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RETICENT_IRREVERENT 7 years, 1 month ago

T_O_B, I watched a little bit of "Tornado Katie" last night.

I have had an epiphany. Katie Horner has ceased to my siren, pixie, sylph, temptress, coquette. I am free from her inveiglement. This manifestation of insusceptibility to her enchantress, muliebral, viviparous ways has freed me. The enthrallment is over.

My allurement will now focus solely on Elisabeth Shue.

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sunflower_sue 7 years, 1 month ago

MyName, you are hopefully right about that, but I knew several people that were ready to retire before the last big crash and made the mistake of having too much left in stock. I hope apathy and a false sense of security doesn't lead me down that same path.

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blue73harley 7 years, 1 month ago

I think the market will recover once they bury Anna Nicole.

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prioress 7 years, 1 month ago

Its very frightening and prophetic that the US economy takes its cues from China.

Part of that is because China "owns" us in many ways, and our reliance on debt being funded by financial interests outside the US. Get used to it; I just hope I live long enough to see what happens when they cash in.

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MyName 7 years, 1 month ago

sunflower_sue:

If you were about to retire, you probably wouldn't be invested in stocks, at least not very heavily. But yeah, I'm like: "why couldn't this have happened a month or two ago when I would have bought cheaper".

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Tom Shewmon 7 years, 1 month ago

Thanks Sarge for the clarification....good luck with your strategery.

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sunflower_sue 7 years, 1 month ago

The only thing about the decline in the stock market that concerns me is that I won't buy at the lowest point. Since I haven't funded my '07 IRA yet, I'll be doing that soon. If I were of retirement age, I would be very concerned.

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sgtwolverine 7 years, 1 month ago

r_t, the unpossible thing is a Simpson's quote. "I'm failing English? That's unpossible!"

Okay. Now I have to get back to planning my strategery for photographing tonight's hockey game.

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The_Original_Bob 7 years, 1 month ago

Crazyks -

Katie overdramatizes and intentionally scares people to get ratings. She is continually bashed by her peers. I know 3 meteorologists at the NWS in Pleasant Hill and it's a general consensus that Katie Horner is bad for their profession. Look at past weather blogs on KSHB and Fox4 and there are many not so subtle jabs at her (her name is never mentioned but it's obvious who they are referring to).

I actually watched Lezak last night because I don't want to be responsible for Katie's ratings. I disagree. He was very calm and repeatedly told people to relax.

They do provide a service and I think most of them do a good job. It's how Katie presents her service that is disgusting.

In 2004, she invented a Tornado in Overland Park. No NWS warning was ever issued. She looked at radar and said there had to be a Tornado. She was wrong and what she did was unethical. Earlier this year she predicted 24 inches of snow for KC when no one else (NWS, Weather Channel, Local affiliates) were predicting more than 8 inches.

Ratings. Ratings. Ratings.

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jonas 7 years, 1 month ago

O-Bob: One more time?!?! Pllllllleeeeeeeeaaaaassse?!?!?!

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Tom Shewmon 7 years, 1 month ago

"Bush can't produce a positive development. It's unpossible!"-jonas

HA HA HA -----I get it, a 'Bushism' ---- 'unpossible' -----

HA HA HA

Ooooh dear LORD you far-left, secular- progressive foaming at the mouth Bush hating idiots are just a hoot!!

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RETICENT_IRREVERENT 7 years, 1 month ago

I feel pretty safe. I aquired some Krugerrands in 1984.

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The_Original_Bob 7 years, 1 month ago

Gootsie - http://www2.ljworld.com/news/2007/feb...

R_I - I feel bad. I promised these folks a show and now I have no idea who they were. I will get better. Time.

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Linda Endicott 7 years, 1 month ago

I don't own stock, so no, it didn't worry me. It was interesting to watch the chickens running around in a panic on TV, though.

Hey, guys, why all the flak toward Katie? It was the weather service that issued the tornado warnings, you know...she only reported it. And gee, she wasn't the only one on TV to do that, either...did you also tape up pics of Mike Thompson and Gary Lezak while you were at it? They were doing a pretty good panic dance, too.

I live in an upstairs apartment, so I rushed me and my daughter and my cat downstairs when the sirens went off. If it had actually hit, I know which part of this old house would have gone first!

Came back upstairs after that was over, and stayed. Had another storm later on with LOTS of hail (very small; I never saw any quarter-sized stuff), and that was an adventure. Sounded like they were doing river dance on the roof.

I'd rather spend ten times going for shelter and have nothing happen than spend one time not going for shelter and have a tornado hit. Identifying dead people isn't pleasant, you know.

So it inconvenienced you. Big whoop. I suppose if no one had reported any of the warnings last night, and something bad had happened to someone, you'd be complaining about that, too.

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prospector 7 years, 1 month ago

What goes up must come down.

Was Katie a pig in sheets of rain and hail last night? Bob, she was telling folks in their basements' to put the kids in their car seats and to put on a bike or football helmet and don't worry about looking goofy. Classic Katie!

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average 7 years, 1 month ago

Shrug. It's all a bunch of meaningless numbers. A dollar isn't anything but a fervent hope that the Fed won't print 500 trillion of them tomorrow. How many dollars are out there? The Fed stopped keeping track (at least officially) last year.

An "economy" is trading promises that "I'll give you more tomorrow than you gave me today". But, the planet is finite. The Providence-given natural resources of the earth are severely stretched (whether oil and gas or the earth's fertility), and further extraction for growth will eventually fail.

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50YearResident 7 years, 1 month ago

The market is down another 167 points right now! This is Bush's idea of "The economy is great". As long oil prices stay up he thinks things are going well.

For people that are retired with 401K plans, 10% of thier retirement savings have just vanished.

Bush wants everyone to put thier SS Money in the market. Then we can all be broke.

GREAT JOB Mr. President. This is the third time on your watch.

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Gootsie 7 years, 1 month ago

Oh wait - flatulates. Sgt, proofreader alert!!!

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Gootsie 7 years, 1 month ago

The market naturally flatuates? That stinks!!

Our financial guy moved a big chunk of our money out of stock last month. He gets a reward!

TOB, what is the SLR Liberty hall show about?

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RETICENT_IRREVERENT 7 years, 1 month ago

T_O_B,

"I am a dumbass"-The_Original_Bob

You have me worried Brother. I have this image of you banging your head against the desk, followed by you repeatedly stapling yourself.

Put on your bike helmet, and heavy winter coat. Stop the self-deprecation.

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The_Original_Bob 7 years, 1 month ago

Jonas - Please quit baiting the child.

Trinity - Last night I went to the basement, put sunglasses on (lightning) and then ducttaped my child and wife in foam padding. I could only get so much around myself so I grabbed the flak jacket and bike helmet. I felt fairly secure until I realized the widespread destruction and death Katie Tornado was prophesizing would result in widespread looting. I prepared a bunker within the basement and loaded up the shotguns and rifle. I then taped pictures of Katie all over the house thinking it would repel tornados and VERY LARGE HAIL. The key to success is proper planning. I survived. Thankfully.

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jonas 7 years, 1 month ago

"Posted by right_thinker (anonymous) on March 1, 2007 at 8:27 a.m. (Suggest removal)

Has anyone mentioned yet that when it approached 13000 is was like, totally Bush's fault?"

How could Bush have anything to do with THAT?! That's a positive development. Bush can't produce a positive development. It's unpossible!

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trinity 7 years, 1 month ago

hah, thankfully no headphones were needed. no, instead i sat on my couch in my trailer with the sirens blaring&katie in a state of near panic, laughing my fool head off when she recommended grabbing the bike helmets to wear. i know it's irreverant-sorry R_I, lol-but damn, couldn't help but get a mental picture of a lil' family huddled in the basement shelter; momma, daddy, two toddlers&a baby-all decked out in winter coats&helmets. sigh gotta love kansas! ;)

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The_Original_Bob 7 years, 1 month ago

Way off topic, don't know where else to put this...

To those that wanted the SLR Liberty Hall show... Do the private email thing again and leave your physical address. And if you already emailed me, do it again. The ljworld emails go into my junk box and got automatically deleted. I am a dumbass.

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Flap Doodle 7 years, 1 month ago

Today is also the birthday of Roger Daltrey. The lad turns 63.

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RETICENT_IRREVERENT 7 years, 1 month ago

It is Self Injury Awareness Day. Is everyone wearing their orange ribbons?

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The_Original_Bob 7 years, 1 month ago

I'm not concerned at all at the moment. It's the stock market. Ups and downs. Roll with it. The market is a long term investment. Dumbass day traders may feel different. Obviously, if the down tic continues, then I'll be worried.

Trinity - Did you put headphones on your kids to protect them from the thunder? Please tell me you were responsible enough to stand 3 feet away from all electrical appliances.

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Tom Shewmon 7 years, 1 month ago

"Has anyone mentioned yet that this is like, totally Bush's fault? "-jonas

Has anyone mentioned yet that when it approached 13000 is was like, totally Bush's fault?

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Das_Ubermime 7 years, 1 month ago

Why does everybody point just to China for this? Japan's and Europe's stock markets have been having more trouble than the U.S.'s as well. Wait, did I just say that? Sorry, I did not mean to disagree with everybody. Is this better:

OMG WE ARE ALL GOING TO DIE!!!!!!

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jonas 7 years, 1 month ago

Has anyone mentioned yet that this is like, totally Bush's fault? He's obviously been seeking the death of middle-America for so long now, but this is the first obvious move of his to indenture the middle class to the rich.

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paladin 7 years, 1 month ago

Its very frightening and prophetic that the US economy takes its cues from China. They have been, and possibly have, gained control of the economic fate of the US. The indisputable benefits of slave labor cannot be countered except, perhaps, with slave labor. When you lie down with dogs. Life, as we have known it, appears to have a short and bleak future. You can thank your selected representatives in government and the corporate moguls and other holders of real wealth for that. Not that they care much about your fate.

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trinity 7 years, 1 month ago

i don't know enough about it to know if i should be frightened or not.

but katie horner sure did whip me into a frenzy last night; had a hard time un-crouching from my fetal position covered in heavy blankets in the middle of my trailer with my winter coat&HELMET on. :)

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thomgreen 7 years, 1 month ago

I agree with imastinker, Alan Greenspan is retired, yet a day after he remarked that we're heading for a recession (maybe I'm wrong, but I thought he meant the U.S. was headed for a recession), the stock market takes a dump. I know he's aware of the power his comments carry, was this a calculated move? Sorry, don't mean to get all conspiracy theory on here. Just a thought, that is all.

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bytheway 7 years, 1 month ago

Currently Ben Bernanke is the chairman says the markets are working well. Hopefully he is right since we just had a third day of trouble in Asia. They better hope it is going to get better. Personally, I have stock so I am a little afraid to check it out. Knowing how the markets work, they will eventually go back up. I would be worried about a recession. I think one is going to happen anyways if there is an increase in the minimum wage. I think a minimum wage increase is good but it will probably cause inflation. Things to be seen. It could get interesting.

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Richard Heckler 7 years, 1 month ago

Isn't it odd how China can shake up america without launching a missle? Yet our debt to China continues to escalate at machine gun rapidity. Internet lines were overloaded and running quite slow that day.

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RETICENT_IRREVERENT 7 years, 1 month ago

Yes and no. Most of my money is invested in commodities... Milk, Bread, Peanut Butter, Cheerios... But, I am concerned.

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imastinker 7 years, 1 month ago

The marked hasn't naturally fluctuated like this since the 40's. This is a big fluctuation.

I'm not nervous because of this, but what caused tis. China's economy is in bad shape right now, and Alan Greenspan is issuing warnings about a recession. That's a BIG deal there.

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sgtwolverine 7 years, 1 month ago

Is there snow on it? Can I ski on it? If not, then no, I suppose I'm not concerned about it.

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75x55 7 years, 1 month ago

"Decline"? Or more accurately a 'correction'?

I like the quote I heard the other day - "If you need your investment money within the next five years, you shouldn't be in the stock market".

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