Stock Markets have officially crashed!!

As of October 9th, 2008 the stock markets have officially crashed according to CNBC. Here is a little info about this: http://www.mydd.com/story/2008/10/9/173517/598

Here is more info about the sctock market crash and how it affects you: http://www.thekirkreport.com/2008/10/the-stock-marke.htm

So what do you guy's think about this? Discuss

Oh God...

Harder times coming.

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

so it really crashed like it did back in 1930's?

Oh God...

Harder times coming.

Syndicate-Curse

Free gas ftw.

Imma go cook burgers with a rock, stick, and some engine oil bbl.

so it really crashed like it did back in 1930's?

tmac200913

Well I guess it hasn't technically crashed but it's damn close. If it does crash then I don't think it will be as bad as it was in the 1930's.It would still be hell though.

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

THE_DRUGGIE

What does it mean when they jetpack themselves up to the windows in the tall buildings :P?

It was expected. With the pushing of subprime by the government support entities of Sallie Mae and Freddie Mac.

Of course no one was complaining because the money was rolling in at the time. But the target for redline loans was supposed to be minimum 22% for 2008 from what I have read.

I think if SLM and FHLMC kept it to 1st time home owners only then the problem wouldn't have been so big.

I had clients with 4 subprime loans on investment property leverage by the one before it and his home was on a 3 year arm.

LACK OF COMMON SENSE.

With all that said our drop this week is easily 90% emotion.

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

THE_DRUGGIE

Yay! They finally tell us after 8 ****ing years!KHfanboy2

I have no investments and i'm 15...can somebody tell me why i should care?darkspineslayer

[QUOTE="THE_DRUGGIE"]

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

Jandurin

[QUOTE="THE_DRUGGIE"]

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

Video_Game_King

What does it mean when they jetpack themselves up to the windows in the tall buildings :P?

Something better than having relations with piles of money has happened.

I have no investments and i'm 15...can somebody tell me why i should care?darkspineslayer

[QUOTE="darkspineslayer"]I have no investments and i'm 15...can somebody tell me why i should care?Jandurin

[QUOTE="Jandurin"][QUOTE="darkspineslayer"]I have no investments and i'm 15...can somebody tell me why i should care?darkspineslayer

news alert WE KNOW

I MEAN REALLY WE KNOW

[QUOTE="Video_Game_King"][QUOTE="THE_DRUGGIE"]

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

THE_DRUGGIE

What does it mean when they jetpack themselves up to the windows in the tall buildings :P?

Something better than having relations with piles of money has happened.

You mean...getting to third with money? Wait, how is that possible?

[QUOTE="darkspineslayer"][QUOTE="Jandurin"][QUOTE="darkspineslayer"]I have no investments and i'm 15...can somebody tell me why i should care?fillini

Probably why its crap XD

You mean...getting to third with money? Wait, how is that possible?

Video_Game_King

Its something I'm not proud of.

Now I cry every time I see a picture of George Washington.

I cannot believe the one time that Congress completely shoots down Bush is the only time he was actually right about something.

/facepalm

I doubt it. If that happened, 50% of all people would be without jobs, and we'd be lining up for welfare checks and to withraw our money from banks.

so it really crashed like it did back in 1930's?

tmac200913

I doubt it. If that happened, 50% of all people would be without jobs, and we'd be lining up for welfare checks and to withraw our money from banks.

[QUOTE="tmac200913"]

so it really crashed like it did back in 1930's?

Adam_the_Nerd

the unemployment rate during the great depression was only 25% it's about 7% atm

[QUOTE="Adam_the_Nerd"]

I doubt it. If that happened, 50% of all people would be without jobs, and we'd be lining up for welfare checks and to withraw our money from banks.

[QUOTE="tmac200913"]

so it really crashed like it did back in 1930's?

inyourface_12

the unemployment rate during the great depression was only 25% it's about 7% atm

25% is a lot...

[QUOTE="inyourface_12"][QUOTE="Adam_the_Nerd"]

I doubt it. If that happened, 50% of all people would be without jobs, and we'd be lining up for welfare checks and to withraw our money from banks.

[QUOTE="tmac200913"]

so it really crashed like it did back in 1930's?

UnknownSniper65

the unemployment rate during the great depression was only 25% it's about 7% atm

25% is a lot...

a lot less than this guys exxagerated 50% though

I cannot believe the one time that Congress completely shoots down Bush is the only time he was actually right about something.

/facepalm

UnknownSniper65

What makes you think that bailout plan was good? They were printing more money so they could do what? All that plan is doing is prolonging the looming debtoverthe US. If you print money with nothing to back it up wihtlike resources, the money loses face-value. This economic bailout planis something utterly stupid, built on the "hopesand dreams of americans". that doesn't sound like a stable platform on which to base an economic plan on.

Plus, incurring debt to solve your deficit doesn't help eiether. If it had passed, after the failur eof this short term plan, there'd be debt yet again. Also, remember that this was just the first "wave" of subprime mortgages and other subprime loans made back in the 80s. the next ones are coming.

[QUOTE="Adam_the_Nerd"]

I doubt it. If that happened, 50% of all people would be without jobs, and we'd be lining up for welfare checks and to withraw our money from banks.

[QUOTE="tmac200913"]

so it really crashed like it did back in 1930's?

inyourface_12

the unemployment rate during the great depression was only 25% it's about 7% atm

Little fact: Saudi Arabia has a long standing unemployment rate of over 25%.

[QUOTE="UnknownSniper65"]

I cannot believe the one time that Congress completely shoots down Bush is the only time he was actually right about something.

/facepalm

Adam_the_Nerd

What makes you think that bailout plan was good? They were printing more money so they could do what? All that plan is doing is prolonging the looming debtoverthe US. If you print money with nothing to back it up wihtlike resources, the money loses face-value. This economic bailout planis something utterly stupid, built on the "hopesand dreams of americans". that doesn't sound like a stable platform on which to base an economic plan on.

Plus, incurring debt to solve your deficit doesn't help eiether. If it had passed, after the failur eof this short term plan, there'd be debt yet again. Also, remember that this was just the first "wave" of subprime mortgages and other subprime loans made back in the 80s. the next ones are coming.

I wasn't talking about the bail out...Bush has been calling for something to be done about Fannie Mae & Freddie MaC since 2006...no one listened.

oh and I did exaggerate the 50%. do you honestly believe that 50% of ALL people in the US, that's over 100 million, could go jobless overnight? Adam_the_Nerd

[QUOTE="darkspineslayer"]I have no investments and i'm 15...can somebody tell me why i should care?Jandurin

also in 3 years you will have to care.

so it really crashed like it did back in 1930's?

tmac200913

From Wiki:

The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States. The collapse continued for a month.

Very similar circumstances. Tuesday was the "real" black day though. 12% decline in one day. We have a ton of new laws concerning stocks and monetary policy this time around though.

The has dropped a total of 25% in the last month.

[QUOTE="Adam_the_Nerd"][QUOTE="UnknownSniper65"]

I cannot believe the one time that Congress completely shoots down Bush is the only time he was actually right about something.

/facepalm

UnknownSniper65

What makes you think that bailout plan was good? They were printing more money so they could do what? All that plan is doing is prolonging the looming debtoverthe US. If you print money with nothing to back it up wihtlike resources, the money loses face-value. This economic bailout planis something utterly stupid, built on the "hopesand dreams of americans". that doesn't sound like a stable platform on which to base an economic plan on.

Plus, incurring debt to solve your deficit doesn't help eiether. If it had passed, after the failur eof this short term plan, there'd be debt yet again. Also, remember that this was just the first "wave" of subprime mortgages and other subprime loans made back in the 80s. the next ones are coming.

I wasn't talking about the bail out...Bush has been calling for something to be done about Fannie Mae & Freddie MaC since 2006...no one listened.

Hannity and Colmes had pretty sweet montage of clips of democrats in 2004 defending Freddie and Sallie. Its on you tube i searched it fo you.:

http://www.youtube.com/results?search_query=democrats+defending+raines&search_type=&aq=f

so it really crashed like it did back in 1930's?

tmac200913

judging by the --- raping my 401k has taken this year... yeah.. i'd say market has offically crashed.. :(

judging by the --- raping my 401k has taken this year... yeah.. i'd say market has offically crashed.. :(

comp_atkins

[QUOTE="comp_atkins"]

judging by the --- raping my 401k has taken this year... yeah.. i'd say market has offically crashed.. :(

Jandurin

yeah.. me too. i guess i'm lucky i will not actually be needed that money for decades :)

judging by the --- raping my 401k has taken this year... yeah.. i'd say market has offically crashed.. :(

comp_atkins

[QUOTE="Jandurin"][QUOTE="comp_atkins"]

judging by the --- raping my 401k has taken this year... yeah.. i'd say market has offically crashed.. :(

comp_atkins

yeah.. me too. i guess i'm lucky i will not actually be needed that money for decades :)

Same here but right now I took all of my money out of my 401k and investied it in dirt-cheap property since land can't get much lower than it is now.

Hopefully it pays off. If not, I'm only 25... What's the worst that can happen :?

Besides, my 401k will only get lower

Man, this is really starting to suck. I have to worry about college tuition in 4 years, and we're losing money all over the place.

Interestingly enough, even though our stocks have been plunging, there are a few guitars that we have which have actually appreciated in value over the last 12 years. Maybe I've unexpectedly stumbled over a brilliant new investment strategy...

The stock markets crash when stock brokers start flinging themselves from tall buildings.

So it hasn't crashed yet in my book.

THE_DRUGGIE

yea, now all they are doing is committing quadruple murder and suicides...