Thursday, January 7, 2010, 5:35AM ET - U.S. Markets open in 3 hours and 55 minutes.
Are you following me on Twitter?
For those of you out of the loop, Twitter is a free service that let's you keep touch with friends and acquintances via your mobile device, IM or the Web -- all in real-time. From celebrity spotting to spreading the word about news events and instant reactions to them, popular Twitter has become a personal, portable news wire service for its millions of fans.
Twitter CEO Jack Dorsey sat down with me to discuss the growing trend that's sometimes called microblogging. We drilled into:
The market will rally. Just probably not tomorrow or the next day. Eventually the market will reflect a sane valuation and will build from there. There are still 300M+ consumers in the country that like stuff. If we stop shipping jobs overseas and start moving them back we can all work to make the goods and services that we mutually want. The really big money won't be able to make as much as they want and we all might not be able to buy as much crap as we do now, but we probably will all be better off in the long run. Too many have lived off too much credit for too long. What is happening is long overdue correction. We gave out loans to those that couldn't afford them at interest rates that were too low. We allowed the rich and powerful to get absurd monetary rewards. Stop the absurd rewards, stop lending money at artificially low interest rates, stop exporting our wealth outside the country and in the long run we'll be just fine.
The market will rally. Just probably not tomorrow or the next day. Eventually the market will reflect a sane valuation and will build from there. There are still 300M+ consumers in the country that like stuff. If we stop shipping jobs overseas and start moving them back we can all work to make the goods and services that we mutually want. The really big money won't be able to make as much as they want and we all might not be able to buy as much crap as we do now, but we probably will all be better off in the long run. Too many have lived off too much credit for too long. What is happening is long overdue correction. We gave out loans to those that couldn't afford them at interest rates that were too low. We allowed the rich and powerful to get absurd monetary rewards. Stop the absurd rewards, stop lending money at artificially low interest rates, stop exporting our wealth outside the country and in the long run we'll be just fine.
...another day where we are all Will Robinson
What is a sane valuation for a company that can't borrow money and has no one to buy its products? 0 isn't really a sane valuation when debts exceeds assets.. unless you follow government accounting guidelines... just wait til the other shoe drops...
Humpty Dumpty sat on a wall,Humpty Dumpty (banks) has a great fall, all of Bush's men, all of the Federal Reserve and Treasury couldn't put the banks back together again.
This is all Bush's fault, all the good old boys made their money killed Corporate America and left. This has been going on for more that a year and now it has reached (or almost ) it's climax. I say close down our markets, take a rest for a few days (Monday is a holiday,anyway) and everyone can catch their breath.. All the heads of governments around the world get together devise a plan to save out finanical planet where fairness rules.(LOL).So many rumors going around that are just scaring people that no one will have any thing left and we will all be working past our retirement age. If any jobs will be available at all. This is not a fun place to be anymore. Everyone just has to stop and think...
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Yahoo! Finance User - Thursday October 09, 2008 03:47PM EDT
A little stressed are we? Just close the door on the way out ok... Thanks