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Originally posted by johnny2127
reply to post by rattan1
Citi posted a OPERATIONAL PROFIT. What that means is revenue versus expenses. But it doesn't include taxes, toxic asset write downs, and normal asset declines. It also includes many one time profits.
In other words they still lost a boat load of money and are essentially an insolvent zombie bank..
Originally posted by Jacob08
My biggest concern is with the rate of growth in the past 20 years before this crash, which in my opinion is far from over. In 1988 the DOW was at 2000, only 20 years later it was at 12 000 in 2008. That's a lot faster growth then the previous 20 years, in 1968 it was at 900 and grew to 2000 by 1988. In short 1968-1988 saw 122% growth (average of 6.1% a year), 1988-2008 saw 500% growth (average of 25% per year).
How much of those gains will have be returned until we are at realistic levels of growth over the 20 year period? I think the credit bubble was responsible for much of that huge growth and now it has burst much of it will be returned. If growth was at 122% for the last 20 years (the same as the previous 20) the market would have been about 4400 in 2008. That's not to say the past 20 years growth wasn't based on anything real or sustainable but it's worth thinking about.
[edit on 12-3-2009 by Jacob08]
Stocks rose for a second day on Wednesday after JP Morgan Chase's (JPM.N) chief executive said his bank was profitable in January and February, echoing comments by Citigroup's CEO a day earlier.
Jamie Dimon's comments to CNBC television, which reversed a broad decline, came after a speech where he said the bank's bond department had just had its two busiest months ever. His comments followed similar remarks on profits from Citigroup's Vikram Pandit that on Tuesday spurred Wall Street's biggest rally in nearly four months. JPMorgan shares rose 4.6 percent to $20.40, while an index of bank stocks .BKX climbed 3.1 percent. Dimon "calmed the markets down. He was the voice of reason," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Originally posted by invisibleman11
the global melt down hasnt even began. what were seing is the tip of the iceberg and to say dont prepeare any more and buy stock after one day of gains is retarded. just because the dow rose to 6,970 something after falling from 14,000 something means nothing...its a propaganda tool for tools to buy more stock in a broken economy
Originally posted by Jacob08
reply to post by johnny2127
True. I added my per year % as an after thought,a poorly thought out after thought but my other numbers are correct and it's all relative anyway.
[edit on 12-3-2009 by Jacob08]
Originally posted by rattan1
We are at a turning point guys. As I said many more good news will come.
Nevada, Arizona, California and Florida had the nation's top foreclosure rates. In Nevada, one in every 70 homes received a foreclosure filing , while the number was one every 147 in Arizona. Rounding out the top 10 were Idaho, Michigan, Illinois, Georgia, Oregon and Ohio.
Originally posted by pavil
Ok, I'll bite. Give me three other indicators that we are at a turning point for the positive.
Originally posted by saint4God
Originally posted by pavil
Ok, I'll bite. Give me three other indicators that we are at a turning point for the positive.
1.) Change
2.) Hope
3.) Er...I think those were the only two words our president has. You win.
[edit on 12-3-2009 by saint4God]
Originally posted by Angry Danish
I suppose the fact that 651,000 people lost their jobs last month is completely irrelevant too? Decreased wages/hours don't matter?
Originally posted by saint4God
Originally posted by pavil
Ok, I'll bite. Give me three other indicators that we are at a turning point for the positive.
1.) Change
2.) Hope
3.) Er...I think those were the only two words our president has. You win.
[edit on 12-3-2009 by saint4God]
GE rose 13 percent to $9.57. The shares have surged 36 percent since March 6 in what may prove to be the biggest weekly gain since at least 1980. It “does not anticipate any significant operational or funding impacts” from the credit downgrade, according to a statement. The long-term debt rating was cut one level to AA+ with a “stable” outlook. GE is down 41 percent in 2009.