Would you be in good shape if your income dropped 75%

[Joab]

Bulls are all shouting for the next big wave and hyping the economy BUT the nations largest bank C citigroup just took a 76% drop in it's revenue stream because of the sub prime crisis.

Wake up boys and girls the party is over !!!

 

[makloda]

LMAO Don't know what's funnier, the "GOOG will goto $1000" threads or this bearish doomsday gibberish?

 

[rcanfiel]

Quote from Joab:

Bulls are all shouting for the next big wave and hyping the economy BUT the nations largest bank C citigroup just took a 76% drop in it's revenue stream because of the sub prime crisis.

Wake up boys and girls the party is over !!!

There is a huge difference in one quarter, and over a multiyear period. Most of us would do fine if our income dropped 75% for one quarter. If not, then people need to be revisiting the wisdom of having up to 6 months income in the bank, in case of job loss...

 

[sunggong]

Quote from Joab:

Bulls are all shouting for the next big wave and hyping the economy BUT the nations largest bank C citigroup just took a 76% drop in it's revenue stream because of the sub prime crisis.

Wake up boys and girls the party is over !!!

What's the big deal???

If you are a good trader, there is a party every single day.

 

[ElCubano]

my income can come to a screeching halt and with some minor downsizing ( less eating out, not buying shit i really dont need, etc etc) I would be able to live about 3 hours...

p.s. about 3-4 years..... but then id be back to when they threw me off the banana boat

 

[u21c3f6]

The wife would have to work! :eek:

With some downsizing I would be fine for several years as long as that 75% drop did not affect my health insurance. In fact, my major concern as I approach retirement is the impact that health insurance will have on me if I want to try and retire before 65.

Joe.

 

[stock_trad3r]

Quote from Joab:

Bulls are all shouting for the next big wave and hyping the economy BUT the nations largest bank C citigroup just took a 76% drop in it's revenue stream because of the sub prime crisis.

Wake up boys and girls the party is over !!!

The fact that C is only down 3% indicates it isnt a bid deal

 

[S2007S]

Quote from makloda:

LMAO Don't know what's funnier, the "GOOG will goto $1000" threads or this bearish doomsday gibberish?

did you go back to being a bull???

 

[AK100]

Quote from makloda:

LMAO Don't know what's funnier, the "GOOG will goto $1000" threads or this bearish doomsday gibberish?

What for example if Google were to develop an online operating system, so called 'cloud computing' where your computer is the one you're working on at that time.

If I came to your office for example, logged on to any PC all my programs, data and the like are right there.

Why can't Goog smash MSFTs monopoly and if so why can't the shares be worth $5,000 to $10,000 over the next several years?

This is the real key to Google's potential not what they're doing now or next year.

Expect the phrase 'cloud computing' to be a real buzzword in 2008 as tech companies realise it's not only the future but for some of them a once in a lifetime opportunity.

You're already seeing the battlefield shape up with the free Lotus MS Office type application launced last month. Goog also has it's own online suite of programs similar to Word, Excel etc.

 

[makloda]

Quote from S2007S:
did you go back to being a bull???

Not any more bullish or bearish than 3 months ago or 3 years ago. Neutral. I am short bonds, long NQ, short NG, long HO, long GC, SI and HG and stock exposure wise about 130% long and 80% short a few dozen different equities.

I see no reason to panic or predict doomsday, neither do I place any bets on any momentum china or N100 stocks. Markets go up and down, get with the program.