I'm sure that this number's meaning is well known to some of us by now. This is how many points the Dow fell today - the single biggest decline in the Dow ever. Even larger than the depression era declines...........
The last time I was out today every bank that I passed had a full parking lot and a line-up for the ATMs and drive through lanes.
This has never happened before. Pretty scary.
777
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sebastiaan56
- Blackwood
- Posts: 1279
- Joined: Sun Oct 28, 2007 5:23 am
- Location: Blue Mountains
Buddy can you spare a billet?
Personally i think that the smartest here may be Martin or Uncle Bob with their personal endowments of rare and expensive tonewoods......
Gold is up, oil is down, markets are down, moods are down...... guess there is only one way for us all. There is a lot of money being made right now. If you have the cash there are a lot of underpriced stocks around. You will have to wait but the market will go north, but it will, and some will go very quickly. This is not the end of capitalism, lets hope its the end of no rules capitalism.
And the bail out failed,... well that just proves the mettle of the politicians involved. Personal motives and the presidential race take precedence over public good. I personally dont think it would have worked anyway. Our Reserve bank has been loaning money to banks, that is its job after all. But they dont give it away. It seems so stark to me that those who were the loudest proponents of the free market and now crying the hardest for the bail out (eg, the Fed Chairman).
The next thing will be the rapture......, plagues, etc, etc. Its as the Chinese curse says 'May you live in interesting times". Chin up Hesh, our forebears have lived through much, much worse (particularly some of yours mate). This will be a blip in economic history.
Gold is up, oil is down, markets are down, moods are down...... guess there is only one way for us all. There is a lot of money being made right now. If you have the cash there are a lot of underpriced stocks around. You will have to wait but the market will go north, but it will, and some will go very quickly. This is not the end of capitalism, lets hope its the end of no rules capitalism.
And the bail out failed,... well that just proves the mettle of the politicians involved. Personal motives and the presidential race take precedence over public good. I personally dont think it would have worked anyway. Our Reserve bank has been loaning money to banks, that is its job after all. But they dont give it away. It seems so stark to me that those who were the loudest proponents of the free market and now crying the hardest for the bail out (eg, the Fed Chairman).
The next thing will be the rapture......, plagues, etc, etc. Its as the Chinese curse says 'May you live in interesting times". Chin up Hesh, our forebears have lived through much, much worse (particularly some of yours mate). This will be a blip in economic history.
make mine fifths........
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Paul B
That is a scary drop. But back in '29 they hadn't seen anything like it before, so most people shit a brick (and some jumped out the nearest window).
Cooler heads will prevail this time. '87 was bad, but people had some idea about how to deal with it, because it'd happened before.
I hope they sort it out, last thing I can afford is another jump in interest rates - with a new baby due in December.
I've got a meeting with the boss today to ask for more pay. Perhaps my timing is good seeing as the shit hasn't hit the fan just yet. Wish me luck!
Cooler heads will prevail this time. '87 was bad, but people had some idea about how to deal with it, because it'd happened before.
I hope they sort it out, last thing I can afford is another jump in interest rates - with a new baby due in December.
I've got a meeting with the boss today to ask for more pay. Perhaps my timing is good seeing as the shit hasn't hit the fan just yet. Wish me luck!
I was prepared for this and even predicted it and this kind of thing has a lot to do with why I moved recently too.
Americans have been living in a bubble of sorts with all kinds of things inflated that should not be and credit WAY to easy to get.
The problem as I see it is that this is part of a slow and gradual decline that the US is now going through and I don't suspect that the market will fully recover ever.
Don't get me wrong, business will go on, kids will be born, no one is going to starve over this but the high flying times are over.
And yes I agree that the politicians had a great deal to do with this but they are a reflection of the people, sometimes......., so there is blame for all.
This election my plan is clear. If you are an incumbent legislator you will be voted against by me...... I will become the contra voter voting against everyone currently holding office. No one can tell me that we need these peoples expertise.......... For what - more of the same utter failure.......
It's time to fire them all.
Americans have been living in a bubble of sorts with all kinds of things inflated that should not be and credit WAY to easy to get.
The problem as I see it is that this is part of a slow and gradual decline that the US is now going through and I don't suspect that the market will fully recover ever.
Don't get me wrong, business will go on, kids will be born, no one is going to starve over this but the high flying times are over.
And yes I agree that the politicians had a great deal to do with this but they are a reflection of the people, sometimes......., so there is blame for all.
This election my plan is clear. If you are an incumbent legislator you will be voted against by me...... I will become the contra voter voting against everyone currently holding office. No one can tell me that we need these peoples expertise.......... For what - more of the same utter failure.......
It's time to fire them all.
Revolutions have been started over less. Let's hope that this one doesn't stop at the politicians, but at the hierarchy and mind set of the finance sector.
But without a fundamental change of peoples expectations, and a willingness to live within their means, and banks and credit card companies refusing to allow them otherwise, this problem, plus a whole raft of others just aren't going to go away.
But without a fundamental change of peoples expectations, and a willingness to live within their means, and banks and credit card companies refusing to allow them otherwise, this problem, plus a whole raft of others just aren't going to go away.
Wait, wait. You mean you can live outside your means??? That's it! I'm getting 5 credit cards and going ballistic!Allen wrote:and a willingness to live within their means
- If God had intended us to drink beer, He would have given us stomachs. - David Daye.
- The mouth of a happy man is filled with beer. -
- The mouth of a happy man is filled with beer. -
The crash of 29 was far worse! In percentage, this is just a burp! But just like in the 20's the market "up and downed" all over the place until it crapped out.
Ths is what most work'in men want though! You don't want a bunch of lazy speculators party'in it up! If you invested in 1960 to retire in 80 you would of made $0.00 American dollars, on the average! This at the same time the American economy was doing probably the best it ever was!
The whole thing against inflation was more for "investors" than for the average working guy. Wages need to come up dramatically... the real economy! This shit on Wall Street is nothing compared to guys working for a living, taking care of their families!
Small business has been taking a beating for 20 years were lucky we've got away with this for this long!!
Ths is what most work'in men want though! You don't want a bunch of lazy speculators party'in it up! If you invested in 1960 to retire in 80 you would of made $0.00 American dollars, on the average! This at the same time the American economy was doing probably the best it ever was!
The whole thing against inflation was more for "investors" than for the average working guy. Wages need to come up dramatically... the real economy! This shit on Wall Street is nothing compared to guys working for a living, taking care of their families!
Small business has been taking a beating for 20 years were lucky we've got away with this for this long!!
I got a better idea! Le Guillotine! Oui??Hesh wrote:If you are an incumbent legislator you will be voted against by me...... I will become the contra voter voting against everyone currently holding office.
Then apparently there are a shit load of no brain idiots running the banks.
Do any of you get a warm and fuzzy feeling when your bank introduces you to your new "Personal Banker" that is barely out of nappies and still lives with their parents?
I had 3 of them within 6 months when we first set up our accounts here. After that I had to tell them quite bluntly to never waste my time with their crap again.
Do any of you get a warm and fuzzy feeling when your bank introduces you to your new "Personal Banker" that is barely out of nappies and still lives with their parents?
I had 3 of them within 6 months when we first set up our accounts here. After that I had to tell them quite bluntly to never waste my time with their crap again.Yeah, had one of those fresh out of school bozos loose the title deeds to my house. Told him to take a look in the bank vault and hed probably find my title deed stored with all the others.Allen wrote:
Do any of you get a warm and fuzzy feeling when your bank introduces you to your new "Personal Banker" that is barely out of nappies and still lives with their parents?
Which Bank...now that would be telling wouldnt it?
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