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Author Topic: the market dropped 777 points today  (Read 3473 times)

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Offline bigpook

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the market dropped 777 points today
« on: Mon, 29 September 2008, 18:48:18 »
wow, its the end of the world as we know it....
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Offline karlito

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the market dropped 777 points today
« Reply #1 on: Tue, 30 September 2008, 21:06:55 »
this is what we call EPIC FAIL of our government.
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Offline victheslik

  • Posts: 153
the market dropped 777 points today
« Reply #2 on: Tue, 30 September 2008, 21:12:34 »
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« Last Edit: Sun, 26 November 2023, 22:23:14 by victheslik »
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Offline xsphat

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the market dropped 777 points today
« Reply #3 on: Tue, 30 September 2008, 21:35:10 »
Don't be fooled by the points. The number was only that large because of inflation. If you look at the percentage it dropped, there have been way larger drops in history. This drop was roughly 7%. Compare that to 1914 23% drop. That was a catastrophy. This is not ... yet.
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Offline victheslik

  • Posts: 153
the market dropped 777 points today
« Reply #4 on: Tue, 30 September 2008, 21:39:49 »
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« Last Edit: Sun, 26 November 2023, 22:23:10 by victheslik »
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"The only antidote to mental suffering is physical pain. " Karl Marx
A wiseman once said, "If Bible proves the existence of God, then comic books prove the existence of Superheros."

Offline xsphat

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the market dropped 777 points today
« Reply #5 on: Tue, 30 September 2008, 22:16:31 »
It all depends on what happens next, but even if it does crash and burn, that won't even hit us for a decade. The secret is save. If you have savings, you'll only hurt the market more if you withdraw now. Long term investments survive this sort of a thing as long we don't get "more of the same" for our next dictator.
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Offline victheslik

  • Posts: 153
the market dropped 777 points today
« Reply #6 on: Tue, 30 September 2008, 22:38:23 »
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« Last Edit: Sun, 26 November 2023, 22:23:06 by victheslik »
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"The only antidote to mental suffering is physical pain. " Karl Marx
A wiseman once said, "If Bible proves the existence of God, then comic books prove the existence of Superheros."

Offline jemkeys

  • Posts: 80
the market dropped 777 points today
« Reply #7 on: Wed, 01 October 2008, 22:02:45 »
This is great news.  Prices are affordable again!  

Maybe this will stimulate the US to actually become a producer nation once more.

Subprime mortgages are a result of the Community Reinvestment Act.  Look it up.
Dems told the banks that they're racist and it's discrimination not to give minorities home loans just because they have no money, poor credit history, and no income.  
So big surprise... they made a whole lotta loans that were never going to be repaid.
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Offline fkeidjn

  • Posts: 237
the market dropped 777 points today
« Reply #8 on: Wed, 01 October 2008, 23:13:45 »
Quote
This is great news. Prices are affordable again!

I noticed that the dollar is slightly getting an edge too (finally...), and maybe soon will be the time that I can get my hands on a Realforce :p
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Offline xsphat

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the market dropped 777 points today
« Reply #9 on: Thu, 02 October 2008, 01:39:37 »
We need to get the F out of this stupid war. Then the economy of the entire world will benefit.
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Offline Eclairz

  • Posts: 308
the market dropped 777 points today
« Reply #10 on: Thu, 02 October 2008, 05:14:42 »
Quote from: fkeidjn;9250
I noticed that the dollar is slightly getting an edge too (finally...), and maybe soon will be the time that I can get my hands on a Realforce :p


Actually the realforce might become dearer since the USD to asian currency is worse. But buckling springs should get cheaper
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Offline graywolf

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    • http://www.graywolfphoto.com/
the market dropped 777 points today
« Reply #11 on: Mon, 06 October 2008, 22:13:02 »
Quote from: xsphat;9237
Don't be fooled by the points. The number was only that large because of inflation. If you look at the percentage it dropped, there have been way larger drops in history. This drop was roughly 7%. Compare that to 1914 23% drop. That was a catastrophy. This is not ... yet.


Aw, you are just being sensible. Me I like media caused problems like the gasoline shortages here in the southeast. "The sky is falling" is great for ratings. The '87 crash, caused by automatic computer generated sells, was fun too. Knocked the economy on its butt for a year. The year yours truely was trying to make it in commision sales, I aways did have great timing. What worries me is that our fearless leaders have managed to cause a recession at the peak of the economic cycle. I think that is some kind of record for ineptness.
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Offline xsphat

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the market dropped 777 points today
« Reply #12 on: Mon, 06 October 2008, 22:57:13 »
You are very wise sir. So you most likely know the stocks fell so hard because the international paper market had a hiccup for one day which caused the banks to lose a little money, therefore they tightened up and would grant flash loans to businesses which caused the banks to "break the buck" (lose money on interest). That I think is hilarious, but I'm not laughing because I still live here.
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