The market's going to hell!

http://www.cnbc.com/id/26945972


Soon the world will turn all Mad Max like and we will have too live like rouges and defend our selves from mutants!


God speed, HWAers

Same over here! Fasten down the hatches and hang on for a rough ride. No surprises, - this has been expected for a long long time.

Sean you sound like a Sci-Fi obsessed redneck... amirite?

any of you folks from across the pond got any euros or brittish pounds you'd like to trade for some greenbacks?

Darkie said:


I am not a redneck, good sir.

* McFly sits just behind his front door with a shotgun, waiting, watching. *

what if they come in through the back door, windows, or attic vents McFly?

MrBungle said:
and with mcfly swaters????????

Oh nos not the mcfly swatters...




















































































where can I buy one?

Just send all your information to me in a PM and ill hook you up, Social Security, DOB, CC Number, etc.

I hope they do. There'll be a bear trap waiting for them.

Oh.

*Goes back to playing guitar*

I love my government job.

Sean Costello said:

Sweet, I'll be sure to get you all that information.

Here's a secret: Once the stocks start to level out, after this major tanking, buy some tech stocks. Google, Microsoft, Yahoo, big names. Then, they'll rise again, as is the trend with the market, and you sell at a later date, and make off with some money.

What happened to the 1 trillion dollar injection?

Kieran Blenkarne said:
The House of Representatives said no, and axed it right there.

Kieran Blenkarne said:
Everybody got mad that the people who caused the problem were going to be the benefactors of the bailout.

The problem with this reasoning is that

A: I'd rather thieves keep their money if we can fix the rules and not implode as a nation

and

B: while the investment banks are certainly to blame, just as guilty are all these idiots who took these loans without planning more than 6 paychecks down the road. "$500,000 for $750 a month? There can't possibly be a downside to that! Sign me up!"

Once again, Congress has failed us by giving the public what we want, instead of what we need.

Man, it sure looks like it's getting dark.

It is getting strange. Down in NZ too, were paying ridiculous prices for food now. My ISP has just put the prices UP on its services. Seems like its going backwards.

In the last year, our average food prices have gone up 8%

Kieran Blenkarne said:
That depends where you get your food from but, I don't think either can be attributed directly to what is happening now in Washington D.C./New York City. Even in USA, we aren't seeing the fallout from this mess quite yet.


Reason said:
A lot of the benefactors will be banks that don't even exist anymore. This isn't a "bailout" at all. It is a motion to buy mortgage securities that are toxic to bank balance sheets. Once these banks discover they overvalued these toxic securities, the balance sheet shows they are running around at the bottom of the ocean in debt. As seen already (12 USA banks already failed, 2 or 3 failed in the UK), these securities are like VX nerve agent to banks.

If something is not done soon, credit will completely freeze and the economy will collapse. I don't like it, economic people don't like it, no one likes it but, we don't have a better alternative at this time.

What really gets me going is that a lot of things the Republicans in the House asked for are there in the bill that failed. It sounded to me like the taxpayers would get all their money back from this in under five years. The government could have potentially profited from this too. Yeah, the bill could have used sharper teeth but, the stock market's reaction to the bill failing should be proof enough that we need this thing sooner rather than later.


What I do know is that large companies are having diffculty getting money. I know Caterpiller is spending twice as much for a loan than they would have a year ago and that General Motors has no more credit at all so they are running solely on financing and sales revenue. General Motors could be declaring bankruptcy in one of the coming quarters.

I keep hearing about how we need this bailout and how it will mean another great depression if it does not pass. But I don't hear how anything is being done to keep this from happening again. It sounds to me like all they wan't to do is treat the symptoms without treating the real problem.

The other thing is where are they going to get the money!? The federal government is already in a state of deficit spending, the people are tapped out its not like they can raise taxes and with the "tax and spend Democrats" and the "borrow and spend Republicans" we have running the show right now the choice is clear to me... They'll just print the money and de-value our currency even more than it already is, because you know that neither group is going to reduce spending somewhere else to make room in the budget for 700 billion worth of push-the-market-correction-out-a-few-more-years. /end rant

MrBungle said:
There's no time to deal with additional regulations now. That comes after the bill is passed and before more money is dispersed (Congress has to vote at $250, $100, and every $50 billion after that).


MrBungle said:
It's basically a bond that is bought into by other countries.

Lemme put it this way... Democrats want bigger government and Republicans want smaller government. If Obama does get elected, there's going to be a multi-billion dollar healthcare plan tacked on to the annual budget. If McCain gets elected, massive portions of the government will be suspending except ("Department of Defense, Veterans programs, and Entitlement programs"). I don't doubt McCain will get it paid off quicker but the country may end up in a state of disrepair because of it. I guess it really comes down to drastic times demand drastic measures.