I'm Cheerin the Fall of the DOW!

[werdd]

Rockandrollsouls is just mad he is going to lose his ass. And bashes realist, who have real jobs.

 

[tmg19103]

After so many years of government intervention and mindless greed, this crash is inevitable. It's not a good thing, but it is a necessary thing. More government power, regulation and control will come from this.

At the same time, for those who protected themsleves, new and different opportunities to invest will come about, as well as the opportunity to buy stocks for a baragin.

The question is will this be a one or two year thing or a ten year thing. Either way, the government and those who invested with greed instead of smarts don't get my sympathy in general, but it hits home when it hurts friends and family.

Like Brandon Yates, my 72 years dad laughed at me this summer when I told him to get into cash and gold. He only has a short time to live so it is not the end of the world for him, but I think he really wanted to help my sister's three kids out for college and now what is left will go to my mother as she will probably live into her 90's and she needs it.

A lot of people had been making killings the past ten years on inheritances. That is gone. It hurts in a lot of indirect ways.

I myself prepared for this. I own my primary home, vacation home and cars outright. I have cash saved to live modestly the rest of my life if I so choose (assuming we don't have a decade of hyperinflation). I got completely out of the stock market in July and am holding cash, gold, silver. Mostly cash - but if this keeps tanking I will get out of cash completely.

I view this crash as a necessary reaction to all the mistakes by government and Wall Street the past 20 years or so. I feel bad for those who did not see it coming.

I do feel vindicated for the very bearish postion I took in July and I feel there was nothing stopping this crash, but I get no joy out of it. I have friends and family members who are taking huge hits on investments and retirement savings and they are scared. They are leveraged and if they lose their jobs they are toast - and most have grade school kids. They are scared and while I can take comfort in my position, I feel terrible for others.

My next step, which I have not done yet, is to wait this out a week or two and if it gets worse, then I stock up on food, water and other living basics.

The only good thing to happen is that this has caused deflation and the price of food and oil are down - for now.

 

[Ninja Homer]

posting this again since you seem to have missed it

You should read up on some history....and I don't mean it offensively. If anything, this prevents a grassroots revolution. Whenever a crisis like this takes place it's used as a massive power grab for the government...we will be fighting more regulation, intervention, abuse of power, and that's if we are lucky enough to still have some of our civil liberties at the end of this. This is a major setback.

What history are you referring to? I don't think this is just a simple stock market crash, or even the Great Depression. This is the falling of an empire that spread itself too thin on credit backed up by nothing. Throughout history, this is how all empires end. All governments become corrupt within about 200 years, and then it is up to the people to rise up and remove the corruption.

I'm definitely not cheering this, but as in almost every situation, there's a positive side to go along with the negative. Millions of people are now waking up to what we've been trying to tell them for so long. I think the federal government has gone beyond the point of repair. If we want to live in a free country, the federal government has to collapse and the people need to rise up and take their country and liberty back.

It has never been more important to spread the message. Explain to people why this is happening, and more importantly, what we need to do to fix it. If there's a complete collapse, we're going to need all the people we can get to restore a sound government.

 

[ghengis86]

Rockandrollsouls is just mad he is going to lose his ass. And bashes realist, who have real jobs.

okay, now you're not making sense.

 

[rockandrollsouls]

Look up the definition of IT.

I was going to invest in a tech stock earlier this year. But luckily i am not half the dumbass you are.

Instead i invest in real assets. And were i the gambling asshole you are i would of made 50 bucks this morning.

Unfortunately, you cant just short real assets.

So you do fumble with hospital spreadsheets

What "real assets?" I guess your parents don't charge you rent. It must be nice to live rent free...cost free.

Who said I invested in a tech stock? Who said I invested in anything? Maybe I had puts on a particular index that is floundering today

And, finally, stop trying to talk like you understand economics. Your sentences aren't making sense.

 

[rockandrollsouls]

posting this again since you seem to have missed it



What history are you referring to? I don't think this is just a simple stock market crash, or even the Great Depression. This is the falling of an empire that spread itself too thin on credit backed up by nothing. Throughout history, this is how all empires end. All governments become corrupt within about 200 years, and then it is up to the people to rise up and remove the corruption.

I'm definitely not cheering this, but as in almost every situation, there's a positive side to go along with the negative. Millions of people are now waking up to what we've been trying to tell them for so long. I think the federal government has gone beyond the point of repair. If we want to live in a free country, the federal government has to collapse and the people need to rise up and take their country and liberty back.

It has never been more important to spread the message. Explain to people why this is happening, and more importantly, what we need to do to fix it. If there's a complete collapse, we're going to need all the people we can get to restore a sound government.

Great Depression...I don't think you realize what came of that. Even recently, when things went sour the government stepped in. There isn't really a positive side to that...whenever things have gone down the tube we have had more government shoved down our throats. You don't really need a detailed history book for that....all you need to do is take a quick glance.

 

[Chabsfromcanada]

Well, one good thing may come of this. People will get their priorities straight, hopefully. Family will be first on peoples minds as this gets worse. I have a feeling fancy new shoes and fake tits wont be a big deal for a while. On that note, maybe here in Canada gay marriage and carbon taxes wont be frontpage stories..... One thing that does worry me though, in the past, what has followed recessions? War.

 

[nobody's_hero]

^^^^

If a nation values anything more than freedom, it will lose its freedom: and the irony of it is that if it is comfort or money that it values more, it will lose that, too.

- W. Somerset Maugham

 

[tmg19103]

Well, one good thing may come of this. People will get their priorities straight, hopefully. Family will be first on peoples minds as this gets worse. I have a feeling fancy new shoes and fake tits wont be a big deal for a while. On that note, maybe here in Canada gay marriage and carbon taxes wont be frontpage stories..... One thing that does worry me though, in the past, what has followed recessions? War.

That does it. I don't think I can live without fake tits. This is now truly a meltdown beyond the obvious epic proportions.

 

[Unspun]

Cheering the market crash is cheering fascism. That's where this country is going if people start waking up and fleeing bad assets that have ran this economy for the last decade or so. If it's fascism you enjoy, then good for you. But, I for one, even though I'm in a fairly decent position, am not cheering the falling of the DOW.

Anyone who's losing their retirement I feel sorry for. Sorry if I have a little bit of moral conscience within me that can't help but feel bad for those who are going to now feel the pain.

 

[nbhadja]

We can avoid a 10 year depression with a 1 year recession...

3 grand a year, huh? Is that going to help you survive the crash of the market you are cheering for? Give me a break. Thank you for proving my point.

No but my dads hard work as a doctor and our savings will easily get us through it.

The American culture sadly lives pay check to pay check. They are gonna get hit really hard for it.
Asians on average will get hit less because of their savings culture.

 

[Unspun]

Well, one good thing may come of this. People will get their priorities straight, hopefully. Family will be first on peoples minds as this gets worse. I have a feeling fancy new shoes and fake tits wont be a big deal for a while. On that note, maybe here in Canada gay marriage and carbon taxes wont be frontpage stories..... One thing that does worry me though, in the past, what has followed recessions? War.

I sure hope so. People will be forced to live within their means. That's not a bad thing. But cheering a falling economy while the government continues to step in and intervene is not.

 

[Highland]

No but my dads hard work as a doctor and our savings will easily get us through it.

The American culture sadly lives pay check to pay check. They are gonna get hit really hard for it.
Asians on average will get hit less because of their savings culture.

you hope....don't be so sure....and so irreverent. Doctors do tend to pass on the " god" gene.....

 

[The Good Doctor]

Calculate the $50 oil with what the Dow still has to lose. I have read from two places that 7200 to 7000 for the Dow would be the bottom.

No matter what they do or say, the market is still over.....



...9000.

 

[The Good Doctor]

You are kidding right?

Screw these bastards. You knew they were going to blow out the economy anyway even if the bill passed.

It was into the four digits at 8:05 ET

 

[rockandrollsouls]

No but my dads hard work as a doctor and our savings will easily get us through it.

The American culture sadly lives pay check to pay check. They are gonna get hit really hard for it.
Asians on average will get hit less because of their savings culture.

You're the one that said YOU were well positioned. You don't work, you don't have any earned money, you just live off your parents. Again, your opinion is completely invalid.

 

[werdd]

So you do fumble with hospital spreadsheets

What "real assets?" I guess your parents don't charge you rent. It must be nice to live rent free...cost free.

Who said I invested in a tech stock? Who said I invested in anything? Maybe I had puts on a particular index that is floundering today

And, finally, stop trying to talk like you understand economics. Your sentences aren't making sense.

Again, look up the definition of IT. If administrating health information servers in UNIX is fumbling chart's to you, then that is your problem.

Illiquid = not readily convertable into real currency.

Dollars are not convertable to anything real, unless you consider debt currency.

Your profession is illiquid because the medium you are using to invest, the dollar, is illiquid. Not readily convertable to anything but toilet paper.

While you are losing your ass, look at gold today.

And i was looking at a particular tech stock earlier this year, not you. AMD.

Thanks.

 

[nbhadja]

You're the one that said YOU were well positioned. You don't work, you don't have any earned money, you just live off your parents. Again, your opinion is completely invalid.

No I never said I worked, what were you reading. I just said I am in great position, and I am.

And when I graduate college and pass the CPA exam I will be alright.
My family has never lived pay check to pay check and never will. Savings is a priority. Just because people are going to suffer because they don't make as much and spend their money like crazy does not mean I will. Completely different people, completely different philosophies.

 

[rockandrollsouls]

Again, look up the definition of IT. If administrating health information servers in UNIX is fumbling chart's to you, then that is your problem.

Illiquid = not readily convertable into real currency.

Dollars are not convertable to anything real, unless you consider debt currency.

Your profession is illiquid because the medium you are using to invest, the dollar, is illiquid. Not readily convertable to anything but toilet paper.

While you are losing your ass, look at gold today.

And i was looking at a particular tech stock earlier this year, not you. AMD.

Thanks.

You have no clue what you are talking about. Again, thank you for proving my point.

 

[werdd]

The bright side, rockandrollsouls, is that when you have completely lost your ass and pulled out what you have, you will still have something to wipe your ass with.