“After a bit of a bump following CEO Steve Jobs’ keynote address at Apple’s developer conference, the company’s stock has been taking a beating. It was down almost 4 percent on Thursday. On Friday morning, it’s still heading lower,” David Morgenstern writes for ZDNet. “What is up?”
MacDailyNews Take: Not AAPL, that’s the problem.
Morgenstern writes, “It’s a bit bewildering, especially with the seemingly upbeat news from WWDC. However, it shows that there are at least two sides to any announcement.”
Morgenstern’s list of the “culprits” or at least ones that he sees:
• Jobs looked thin
• Disappointments in iPhone hardware features
• iPhone price drop
• iPhone competition
• Disappointments over waiting (until July 11)
Full article here.
That first bullet point comprises about 95% of the answer to the headline.
MDN is dead on. Apple is a one-man show… Steve goes… and all bets are off.
I suspect there are more than a few analysts who decided that Apple’s future looks very bright and wanted in on the action at a lower price point.
Peace.
What Bullshit…
The moral of the story is to always eat an entire bucket of KFC before you go on stage. Jobs forgot this time and it cost investors millions! I can’t stress this enough people.
Next year at the Mac World Expo, Jobs’s only recourse to get this now stagnant company and a feature emaciated OS 10.6 back on track is to devour an entire elk carcass on stage.
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Cat’s and dog’s living together. Mass hysteria!
Not quite; AAPL may be perceived as a one-man show; Apple definitely isn’t. Jobs has surrounded himself with great talent who share his vision. Furthermore, for at least next three years, they just need to continue executing along the mapped road and they’ll grow at the same pace.
The street always takes time to digest reality before stopping panic. Whatever may be the cause for the current panic, it is bound to be short-lived.
Wall street is always interested in “what have you done for me today”. For example do you think anyone on the street is looking at all the new iPhones that are going to be sold that could translate into new Mac sales? There are sure to be a lot of people who are going to get new Mac’s when they see how well the iPhone and Mobile Me work on a Mac compared to a Windows PC
Reasons why Microsoft stock has not moved in years—-
• Ballmer looks bald.
• Disappointments in Microsoft Vista features
• Vista price drop
• Vista competition (anything or nothing special. )
• Disappointments over Vista (until July 11…….. 2011 !!!!!!)
Am I close????
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en
I think it is all about Steve. Is he thin on purpose or is his pancreas failing? We all deserve to know.
Folks, it’s proof that the previous posting about Steve Jobs by MDN is absolutely right! That Apple stock has declined this week has absolutely nothing to do with any attempts by hedge funds or short sellers to hammer the stock. And of course, no hedge fund, short seller, not to mention any PR or marketing representatives, paid pundits, writers for C|Net Web sites or publications, James Cramer and his affiliates, or representatives of companies that include, but are not limited to, Microsoft, RIM, Nokia, Verizon, Dell, Lenovo, HP or others would EVER whisper anything doubtful about the health of Steve Jobs, or of any shortcomings perceived or real about the iPhone.
Let’s face it: the market acts on its own. There is no evidence of any background manipulation, negative PR campaigns, whisper campaigns, influencing of journalists or bloggers by any third party. Everyone in business behaves under a strict code of ethics, and would NEVER stoop to trying to undermine a company’s stock valuation by dirty tricks, FUD, lies or any sort of malfeasance. That would be unethical. All of the above mentioned names are hard working, scrupulous and abide by the highest ethical standards in accordance with the laws.
Conclusion: Apple had it coming. Steve Jobs is thin because he has sinned. The iPhone is a failure. Apple is doomed. Windows and RIM are perfect and superior in every way, and you must heed their every command. Sell all your Apple stock now. You are a miserable failure. And all of the above mentioned names are right. You’re wrong.
That just about explains it all. Did I miss anything?
its like everything else when ur down your ok when ur up they try to pull u down good apple bad apple u cant please everyone all he time
Some idiot even titled his blog “S…J.. deathwatch” What a moron.
If you watched the intraday trading on Monday, when the July 11 was announced the stock plummeted. I was sorely disappointed because I need a phone now but I thought it was interesting seeing that drop right as he announced the July 11 date.
MW: Ballmer has no “hair”
AAPL typically drops after a major announcement like WWDC or Macworld. What happened here is that people bought AAPL going up to WWDC, and then nothing was announced that wasn’t basically already known or a given.
Apple, as it has typically done at WWDC, updated developers on software tools, announced an expected new hardware (iPhone), and had no major surprises. Not surprising to those of us who follow Apple, but many others assumed there would be “One more thing”.
BTW: When was the last time Steve did the, “One more thing”?
There was no iPhone price drop.
Before July 11: $400 + 24x$20 = $880 over 2 years
After July 11: $200 + 24x$30 = $920 over 2 years.
That’s a $40 price increase.
Mac boosters are always trying to claim (and MDN has espoused here many times) that “cheap” Dell PCs aren’t actually cheaper because you have to take into account TCO and equivalence.
What bothers me is not the increase (there are additional features), but rather how it’s been disguised as a price drop and the Mac faithful’s herd approval of it.
Stop calling it a price drop, at least.
I personally don’t think Steve Jobs is seriously ill. Maybe I am in denial, but if the next time we see him, on stage, or at a press conference, and he is even thinner, there will definitely be something wrong.
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I have a feeling the main reason Jobs didn’t do the entire presentation himself was because he was royally pissed off that the manufacturing wasn’t able to ramp up fast enough for an immediate availability. He was mad as hell at many people out there and that has also showed – his enthusiasm during the presentation was somewhat subdued, compared to previous events.
Nothing to do with health, and possibly everything to do with the stock dive (not much of a dive, actually; 8% is more like dipping your foot…).
Think about it – what is the worst thing that could happen to Apple?
Did the WWDC give rise to the possibility of the worst?
it’s the economy, stupid!
MDN Magic Word: WANT; put whatever you like with that
@richard A Tell
Q: What is the worst thing that could happen to Apple?
A: Electronic Devices are banned by all major religions including Scientologists. That would really suck.
Q: Did we see signs of that at WWDC?
A: Not really. Chairs raining down in Redmond is only a religious sign during the month of August. Even then that only applies to Calvinists and Vikings.
Maybe Jobs should stuff his face with shit all day long like Tim Russert – oh, wait, then his heart would have already exploded and he’d be dead, too.
Except for Jobs and a few athletes, you filthy Americans are all a bunch of stupid, overeating, unhealthy, fat fucks.
A. Steve Jobs is the pulse of the company.
B. The iPhone is not cheaper, simply financed, and in the end MORE EXPENSIVE.
C. Apple has gone out of it’s way to hamper efforts to unlock the iPhone by discontinuing online sales and activation. Those in the know realize this was one of the biggest reasons many bought them.
D. Nothing happened at WWDC that wasn’t expected.
E. Steve outlined a “stay the course” trend for Leopard. Unseen quality is always a poor seller as it is largely in the buyer’s eye.
” . . . you filthy Americans are all a bunch of stupid, overeating, unhealthy, fat fucks.”
We’re not filthy.
Steve, for Christs sake, go down to the corner pizza shop in Palo Alto and feast till they have to carry you out in a wheel barrow.
Not to be rude, but how many of you that have commented own any AAPL? I would bet that not 10% of you do. Though AAPL has gone against the overall market trend up to WWDC it seems to be adjusting after the iPhone announcement has been made. If you think Mr. Jobs didn’t plan the July 11th sale date, you lack confidence in the man and should be ashamed of yourself for even browsing MDN let alone commenting. My guess is that he wants to wait until gas prices subside after the annual rise around the 4th of July holiday. If you look at AAPL (and the market in general) it has been highly dictated by the price of crude.
Now, go buy some AAPL, buy more AAPL, and hold it ’till your grand kids are in college!
I think it’s the Thurrott endorsement of iPhone.
Ampar:
This definitely made me laugh, primarily because it came from an American – not many are able to laugh at themselves. Which makes me believe you are from SF, Boston or one of those more academic, cosmopolitan places that breed non-typical Americans.
Unlike our ‘Facts Hurt’ … well… character, who is able to stereotype so effortlessly.
Jobs always looks thin!! He is a lean, mean guy running a lean, mean company building lean, mean products. I watched the WWDC video and he doesn’t look any thinner than before and he certainly does not look gaunt.
It’s just another speculative, manipulative piece of FUD.
MW: design. A stock buying opportunity by design.
“Which makes me believe you are from SF, Boston or one of those more academic, cosmopolitan places that breed non-typical Americans.”
Very, very close. Atlanta.
“What is up?”
And by chopping their own nuts off (Apple’s) by not selling the iPhone through their website (that’s the rumor, right?). I haven’t heard anyone mention that, exactly. How are they supposed to sell all of these phones by chopping their supply chain by 1/2? 1/3? ?? I know it sounds crazy, but here in the middle of New Mexico you tend to buy a lot of stuff ONLINE.
Does anyone think it’s easy to get on stage for one to two hours of updates about your product and software? It’s a lot of preparation. That’s why Steve only does Macworld alone, onstage. He doesn’t simply improvise onstage and ramble. I don’t blame him for sharing the 2 hours of presentation with his lieutenants. There was a lot of information there. This guy is Apple. He surrounds himself with very talented people, but it’s still about SJ. You put his people around a Ballmer and the house falls down. This guy has a talent and without him Apple goes back to the days of the days of Sculley *shudder*
@ facts hurt:
1) You’d have shit without Americans
2) We are enjoying centuries of hard work
3) We are not French, thank god.
4) You’re pissed because your green-card was denied for being a pedophile.
5) Eff you, you can only hope the shithole you live in is as good.
Adios, socialist ****
Maybe this is the reason why the mac mini hasn’t been released yet
http://www.electronista.com/articles/08/06/13/intel.c2.quad.q8000.soon/
“This guy has a talent and without him Apple goes back to the days of the days of Sculley *shudder*”
Or worse, Spindler.
BTW, the first Apple CEO was Michael Scott.
Scott declared back in 1979 that there would be no typewriters at Apple.
But this part is more fun (from wikipedia):
“On February 25, 1981, the day known as Black Wednesday, Scott fired 40 Apple employees personally, including half of the Apple II team, in a belief that they were redundant. Later in the afternoon he assembled the remaining employees with a keg of beer and explained the firings by stating, ‘I used to say that when being CEO at Apple wasn’t fun anymore, I’d quit. But now I’ve changed my mind—when it isn’t fun any more, I’ll fire people until it’s fun again.’
Following this abrupt event, he was moved to vice chairman, a title with little power, and Mike Markkula, the man who had hired Scott, replaced him.”
Sorry MDN, Bullet point #2 is probably the main culprit.
Rock on Ampar good call
Thanks, eddie.
His jeans were atrocious!
His clothes need to fit better, he just needs a stylist.
It wouldn’t surprise me if he forgets to eat somedays.
Hope he has people to remind him, or is everyone afraid of him?
Ampar… I knew it. Boston or San Fran
or.. you know… some other place. But one of those, for sure!
Wish I had known in April. Had a huge event at the GA Dome. (Not tornado related!) Been nice to have you out for a drink…
Apple stock always falls after a Steve Jobs presentation.
It stays down for about 4-5 days and then starts climbing again.
It’s been a trend for the last 2 years , perhaps more.
I can’t understand the reason, but, 1-2 days after the presentation is a good time to buy AAPL
@ facts hurt:
I’m from South America. I lived in San Diego, CA for 7 years (legally, for the record).
I’m back in my country after that time (no, I never got a green card. It’s not easy to get one. Once my work visa expired, I returned, as every immigrant who respects the law should).
In those 7 years, I met Americans for all over the country. I never had any issues of discrimination or similar. And most people I met were great people. I also worked with some remarkable folks. Sure, I met my share of idiots, but they were not the rule.
So, stop bashing the American people. The majority of them are really great people. I would guess, just like in most countries.
@Facts
For a generalization to be true, ever part must be true. The word “all” is incorrect as I am an American and I am not fat.
That is an attempt at humor.
“All” generalizations are wrong.
…”Very, very close. Atlanta.”
That was my next guess…
Stock prices have nothing to do with reality.
“Disappointments in iPhone hardware features”
Typical Wall Street response.
“What, they didn’t make an iPhone that got you 75 MPG with any car? Oh god, oh god, Apple’s in trouble.”
They bitched about the missing features on the first iPhone.
Apple sells tons of them.
Apple fixes the “supposedly” biggest complaint, 3G speed.
Apple adds GPS.
Apple opens it up to support third party software.
Apple adds Enterprise support and features.
Apple extends the battery life.
Apple doubles the flash drive space.
There are days that Wall Street should just be firebombed.
Next time, Bluefin!
(I might be one of the few natives left here.)
And Predrag:
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“Missed it by THAT much!”
– Maxwell Smart
“‘All’ generalizations are wrong.”
And some generalizations are always VERY wrong. At least most of the time.
Could it be the Jobs = wasted rumor that’s causing stockholders to dump Apple? Yeah, we know the type. There’s no making sense of their behavior.
As for the more sane stockholders, I think we can continue to thank the Bush League and the Bush Recession. At the end of 2007 Apple was THE safe place to put your stock money. Then the Bush Recession became blatantly obvious (to everyone but bumbling economists in Washington, of course). So, when times are bad you grab your cash and hold on.
Meanwhile, right on schedule the price for Apple stock rose as WWDC approached. Then it dropped, again right on schedule. This is typical with most company stock. When I worked at Kodak the same behavior revolved around the annual stockholder’s meeting. But I believe the level and length of the drop in price this time is also fear of where our country is headed. Optimism is hard to find. Grab your money and hold on.
There has been speculation about the ‘Gee Whiz’ effect on stock prices. Clearly the technology press love to rant in ‘Gee Whiz’ terms. It sells ads. Only a dope would expect every major Apple announcement to be another ‘Gee Whiz’. But we’ve learned that an awful lot of dopes are day traders. WWDC had no ‘Gee Whiz’ factor. Sell, sell, sell. The stock brokerage companies love this behavior and encourage it. They make money with ever dopey transaction. I don’t see this behavior changing until the Bush Depression hits. ;-D
“We’re not filthy.”
You’re not American.
“You’re not American.”
I’m not up on immigration law but since I was born in a hospital in downtown Atlanta, Georgia (U.S.) that magically entitled me to U.S. citizenship. And a bath. It was complimentary.
Likely a reason other then the noted lack of “wow” added features is this:
The Exchange connectivity still needs work and has a number of issues. THAT is why it’s delayed. Apple picked the wrong company to get in bed with. ActiveSync is crap and they will drag Apple down with its sporadic operation. Maybe we’ll see 1 or 2 more builds but to date there are some major things not working 100%.
Don’t be surpised if once released there is a * noting all the issues with Exchange support
Why in the world does no one else see this??
I have been making money off this apple roller coaster for years
its always the same story… no one beleives apple can do it.. apple does it.. up and down up and down… is everyone BLIND?
Take your silly political opinions out of here–this is a Mac site. BTW, why do guys like you always have to exaggerate? According to the data so far, the economy is clearly in a slowdown, NOT a recession. Isn’t that bad enough? Why not call it the greatest economic depression in the history of the multiverse?!?!
Dolt.
Jake
“And a bath.”
Nurse leave you face down for too long?
@@Ampar
Oh! How fabulous, you like sex and traveling, excellent!
Now fsck off!
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To SKY LARK:
NICE ! ! !
Did you forget your meds this morning? Or take a double dose? It has to be one of the two.
There’s a serial troller on this thread and under a few of the other recent articles. Of course, many trolls have come and gone over the years. Since they are addicted to trolling and posters invariably keep feeding them, it must be life-changing circumstances that move them on (Sputnik, anyone?).
@SKY LARK, Ha, ha., Uh, Oh., Afib, Alternate Explanations, We have a Winner, Hey, Shado Control, Hey, Ampar!, Snow Job Leopard, Cognitive Dissonance Abounds, Mac OS X Leopard SP1 (Snow Job) and a few other names is the same lonely poster desperate for attention. His use of “fanboi” ad nauseum is an obvious clue. Like a drug addict, he’s only here because he gets a rush from angering Mac fans. He gets his fix when you respond.
You’ll see this phenomenom all over the web. These trolls usually have minimal or no interest in the topic. Why else would someone be insulting and arrogant when it’s entirely unnecessary and out of context to the post? They get a rush from the illusion of control. They are empowered by the cloak of anonymity since first-hand human contact and personal responsibility are unnecessary (and possibly difficult or painful).
And like baiting a hook and casting a line, they are also compulsively repetitive and predictable.
OFF TOPIC POLITICAL BACK SLAP!
Jake sez:
“Take your silly political opinions out of here–this is a Mac site. BTW, why do guys like you always have to exaggerate? According to the data so far, the economy is clearly in a slowdown, NOT a recession. Isn’t that bad enough? Why not call it the greatest economic depression in the history of the multiverse?!?!”
That’s familiar. Say something often enough and emphatically enough, and someone might actually believe you. It’s another ancient propaganda technique very popular with the Neo-Con-Jobs, including Sean Hannity, Rush Limbaugh…. Ditto-heads eat it up. Little do they know that it induces gas, as evident in Jake’s rant.
Point: Learn some economics. A ‘slowdown’ is a smiley happy friendly elusive evasive deceptive guileful way of saying RECESSION. To recede is to move back, retreat, withdraw. Therefore, if something is slowing down, it is receding from its previous speed. It’s that simple. Don’t get conned by the Neo-Con-Jobs.
Oh, and for fun: Look up ‘Obama-Cons’. These are the real, honest, factually conservative voters who are tired of having to grab barf bags every time the Bush League / Kristol Kult of Krazies / Neo-Con-Jobs pull one of their boner moves and damage the USA in the process. The Obama-Cons are so desperate to see the scum currently leading the Republicrap party thrown out on the street that they are deliberately voting for Obama.
Now if only there was an honest, actual Republican to vote for who could clean out the Neo-Con-Job scum as well as the status quo Democrap scum who IMHO are hand in glove with the Republicrap scum.
Naughty naughty William Kristol! You and everyone in your Project for the New American Century cult of idiocy are now the pariahs of Washington. Darn! How did that happen?
:-Q***********
It’s simply the speculative nature of the stock market… where the economic reality of being profitable, or not, really has nothing to do with the worthiness, or not, of any particular company’s stock.
If I wanted to waste money speculating, rather than go to Wall Street, I’d go to Las Vegas. At least Vegas has some entertaining shows… and the food is better.
The stock market is like a feather on the wind. It goes sideways, it goes down, it goes up, (and inflation gives it a deceptive upwards slant). Sometimes it races ahead of inflation, sometimes it lags, rarely does it keep a balanced pace. It’s a good inflation hedge; like real estate in a well-managed country. But you must let the market time the ins and outs for you lest you need the money at the wrong time.
Analysts must come up with a reason for every up and down, but it’s usually meaningless – fundamental changes excepted. No one can predict the market though some cannot predict it worse than others.
When a big investor takes a bath in the market, sometimes he needs to take some profits too for window dressing or just so he can sleep better. The “hammering” may be nothing more than that.
maybe that the missing new macs, a range of iPhones, and a free .mac/mobilewhatever had an impact to ?
this WWDC was rubbish, absolutely nothing new, the iPhone is very slowly becoming what it should be, i’m still waiting for a real iChat app, google earth, and at least 10 new ways to integrate a phone with a computer, that only require a few days of coding.
(taking prefs and docs with you, iChat integration with the iPhone when u are home, a remote, backup etc etc etc)
I have visited the usa many times,I served with the us army green berets in vietnam and have aleays found them to be very generous and hard working
“A ‘slowdown’ is a smiley happy friendly elusive evasive deceptive guileful way of saying RECESSION. “
Actually recession by any commonly used definition requires at least two quarters of negative growth. Learn even the first thing about economics before spouting off about it or claiming knowledge.
“It’s simply the speculative nature of the stock market… where the economic reality of being profitable, or not, really has nothing to do with the worthiness, or not, of any particular company’s stock. “
Actually it’s been shown that over the long term the stock market gets it right on company valuations. Generally stock prices fairly reflect company value. Sure you have some overvaluation like Apple, where people are overly optimistic about the company’s potential to make money, but that will correct itself.
Steve actualy looks the way people are supposed to look. It’s the fatties who are the problem.
Still more OFF TOPIC political slap back!
Generic Human using the stoopid nick of ‘@derekcurrie’ sez:
“Actually recession by any commonly used definition requires at least two quarters of negative growth. Learn even the first thing about economics before spouting off about it or claiming knowledge.”
Please sew your own lame lips together. I stand correct. By any sane judgement we have been in a recession since January. Only squinky economists (look great on paper, are actually idiots) have another opinion. Generic Human, you sound an awful lot like one of the Neo-Con-Jobs who have been ravaging my country for the last 7.5 years. Get lost, like forever please.
BTW folks: Is there still anyone out there who believes the 401K is a viable means of saving for retirement? If so, why? Witness if you will the fact that the stock market is right back where it started when the Bush League started gouging us with their vulture talons. And the Bush Bozo dolts wanted us to put social security money into 401K plans. Great. Happy retirement.
“Is there still anyone out there who believes the 401K is a viable means of saving for retirement? “
Is there anyone who believes there’s a better way? Over the decades (even with the great depression included) it’s proven to be one of the the best places to put your money.
You seem just dumb enough to buy into the idea of paying the government now for your retirement in the hope that they’ll give you some money someone else pays in later, or not, depending on how they feel and how much money is coming in.
The great thing about Naive little liberals like you is eventually they begin to understand money and markets a bit better and grow up into fiscal conservatives.
Funny thing in, analysts are saying good buying opportunity for people to jump onboard to what everyone KNOWS will be a killer quarter and beyond, yet still it drops.
Sadly the market seems ruled by speculators, megafunds, and day traders far more than corporate performance…
“Sadly the market seems ruled by speculators, megafunds, and day traders far more than corporate performance…”
Actually research shows just the opposite, that it is ruled by company fundamentals in the long term.
Anyone with half a brain can run the numbers and see that Apple is priced to perfection and is already expected to turn in fantastic performances every year for the next decade.
That’s why, kiddies, Apple may be a great company and do very well, but still drop because it didn’t meet the even higher expectations required to sustain it’s price.
“Nurse leave you face down for too long?”
On the positive side, Ampar’s parents probably got a good settlement from the hospital. That’s no real compensation for having to live with a severely retarded child, but it’s better then no money.
” it’s better then no money.”
They would have been able to fix up the double wide real nice. And buy poor little Ampar a Mac.
Speaking of retarded, the word is deprivation.
“better then no money”
Than, not then.
Illiterate shit for brains.
Off Topic Off Topic Off Topic
Generic Human sez re the 401K scam:
“Is there anyone who believes there’s a better way?”
If anyone had invested in bonds at the start of the Bush League reign they would have actually have made money. Anyone with a 401K at the start of the Bush League reign, as of today, would actually have lost money. So yeah. There are lots of better ways in this economic climate.
“Over the decades (even with the great depression included) it’s proven to be one of the the best places to put your money.”
…says the sock puppet. Heard that one for decades myself. Sad to say it turned to utter rubbish over this past decade. Once upon a time the stock market dependably grew despite the usual dips. These days I think only, as you say, someone who is ‘dumb’ or ‘Naive’ or a hypnotized ‘fiscal conservative’ would believe that the US stock market has much of a future. The ruination voted twice into the White House has its consequences. Thank yourself.
“You seem just dumb enough to buy into the idea of paying the government now for your retirement in the hope that they’ll give you some money someone else pays in later, or not, depending on how they feel and how much money is coming in.”
You seem to be off in cloud-cuckoo-land. Your inferences are non sequitur and unfounded. Oh look. Here comes another:
“The great thing about Naive little liberals like you is eventually they begin to understand money and markets a bit better and grow up into fiscal conservatives.”
Since when does one have to be a liberal to be intelligent? Since when does being intelligent have ANYTHING to do with your little two-dimensional world of liberals versus conservatives?
Ditto-heads. Put me to sleep. We all get our day of perspective. Imagine what their’s will be like…
Here is the greatest curse one can wish upon a fool:
May you remember today when it is your time to understand.
Here is the greatest blessing you can wish up on a fool:
Know that I am fine. I forgive you.
Wow. This one degenerated quickly. Awesome!
Thanks for the laughs!
“Sad to say it turned to utter rubbish over this past decade.”
In terms of retirement, a decade isn’t a very long term view.
Go on, invest in bonds. Use them to buy a nice new double wide trailer to retire in while those who invested in the market for 40+ years get you to polish their yachts to help supplement your government paid social security. Ha Ha Ha.
off topic off topic off topic off topic
Two dimensional ‘Your Future’ sez:
“In terms of retirement, a decade isn’t a very long term view.”
You aren’t grasping the point. This status of an essentially dead, stagnant US stock market over a period of a decade has not happened since ‘The Great Depression’. How does one retire on a 401K when over the period of your investment there is no growth, but in fact there has been a loss of value of your investments.
You are assuming that somehow, something is going to turn around this long term stagnation. Like what? The damage that has been done to the USA by detrimental leadership is so profound that I personally don’t see any great solution anywhere. Instead what I see is the continued decline of the USA as an economic power to the point of us becoming inconsequential in the world market. Once the other countries of the world have sucked out all our cash to pay for our war machine, our fuel, our cheap Walmart goods, what are we good for? The USA will be irrelevant. To the world we are only as good as the money they can take out of our pockets. Witness, please, our national debt. How will that money EVER be paid back to our lenders? Consider how quickly we are continuing to build debt:
http://www.brillig.com/debt_clock/
Check out the site below, which delineates exactly how much Social Security and Medicare are being RAIDED to pay for the increasing national debt. Here we are whining about saving Social Security and Medicare when the actual problem is the US federal government consistently spending beyond its means. Who have been our biggest spenders? #1 is George W. Bush. #2 was Ronald Reagan. Who cares what party they supposedly represent? They have been irresponsible. Detrimental.
http://zfacts.com/p/461.html
“Go on, invest in bonds. Use them to buy a nice new double wide trailer to retire in while those who invested in the market for 40+ years get you to polish their yachts to help supplement your government paid social security. Ha Ha Ha.”
You expect Social Security to even exist when you retire? Why?
Your fantasy is particularly sad when one considers exactly what YOU will be doing with your missing retirement funds. How much money has your 401K made over the past decade? Do you seriously see any way a 401K has any kind of future? What is a kid these days supposed to do, starting out in their professional life, if they have even basic comprehension of economics as well as an understanding of recent economic history? The kids these days tell me one and only one thing: Their 401K is a waste of their money. And more than that, they tell me it is a loss of their money. I’ve heard kids tell me this since 2002. It’s six years later. Nothing has improved. Nothing. Instead we are in decline.
Yacht? What yacht? Even the neo-feudalists have shot themselves in the head. During ‘The Great Depression’ many literally leapt out of windows to their deaths.
And the big point, again, is not the historic growth (since WWII up until a decade ago) of 401K type investments. Quote that all you like. The past is past. We’re talking about the future. What exactly has the future US stock market got to grow on? (Well, besides Apple of course!!!) With everything heaped against our regaining economic success, what exactly will make our stock market grow? Sorry Ditto Head fools, but you are snide to others at your own expense. It’s hot out. Do you dare pull your head out of the dirt to look around and notice what’s actually going on?
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Apology: I’ve marked this back and forth as ‘off topic’. Nonetheless, this is a Mac news site. I hang here to comment on the news. That this turned into a teaching session to help wake the brain dead is not just sad, not just off topic, it’s a waste of time. No way do I expect to improve anyone’s economic IQ. Only each individual can do it for themselves. So I have to apologize for essentially sharpening my wits regarding this subject at the expense of bandwidth here at MDN. Thanks for your patience. I enjoyed the chat for my own sake, but apologize if you did not find it as interesting or important.
:-Derek