London panics as Stocks plunge. Biggest crash since 9/11

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FrankRep

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The Europeans have been coming to the US for cheap shopping for months now. Looks like the worm is turning, as it always does. Think I'll book that flight to Paris and hit the Avenue Montaigne next week.
 
This isn't too far off from what Jim Sinclair (a big-time metal dealer) predicted; he pretty much said that within the next few days/weeks, the stock market would plummet and/or crash.

I hope it crashes...I hope they run the economy and the dollar right into the ground; it'll give Ron an insanely huge chance to step up, as he's the only one talking about the dollar, stock market, sound money, and cutting spending...all the others won't have anything to say but "we need more tax-cuts, and more economic stimuli!"

Go Ron GO!
 
A crashing economy today would mean a world-wide depression far worse than in the 20s/30s. This isn't good for anyone, regardless of what it means for the campaign.

Let's get our priorities straight here folks!

Besides, if there really is that sort of crisis, I predict a suspension of elections, myself.... uh oh.
 
kyleAF said:
A crashing economy today would mean a world-wide depression far worse than in the 20s/30s. This isn't good for anyone, regardless of what it means for the campaign.

Let's get our priorities straight here folks!

Besides, if there really is that sort of crisis, I predict a suspension of elections, myself.... uh oh.
Click to expand...

it depends on how bad it is, it really does.

Why are you against a crash happening though? If we don't let it happen, then we're just going to perpetuate the system of debt and despair that we currently have. If a multi-billion dollar corporation, like Microsoft, made some huge mistakes, should we bail them out because "if we don't, then there won't be anyone to make operating systems for PCs anymore"? Yeah, there will be a time of 'crisis', but if you don't let the market work, no one will be able to learn from their mistakes.....

if we don't let it crash now, things will never, ever be right.
 
kyleAF said:
A crashing economy today would mean a world-wide depression far worse than in the 20s/30s. This isn't good for anyone, regardless of what it means for the campaign.

Let's get our priorities straight here folks!

Besides, if there really is that sort of crisis, I predict a suspension of elections, myself.... uh oh.
Click to expand...

Yeah, you're right, it's way better to continue the charade and buy cheap shit from China and pretend our childrens is getting a education and that America(tm) is the deliverer of McFreedom and McDemocracy with over 6 billion served.

Americans are like that guy in Lost Weekend, if only they can get one last pull out of the bottle, everything's gonna be OK.
 
Killing the parasite damages the host. The question is, "How much damage will be done to the host?"
 
Yeah...a crash will be great for the wealthy power elite who have the money to buy up everything on the market for pennies on the dollar. They are the only ones with enough "money" to benefit from something like this.

Everyone should be hoping that we get RP elected and get this under control without a market crash. We're the ones that will lose our jobs and our homes if it does crash hard.
 
Thumper said:
Yeah...a crash will be great for the wealthy power elite who have the money to buy up everything on the market for pennies on the dollar. They are the only ones with enough "money" to benefit from something like this.

Everyone should be hoping that we get RP elected and get this under control without a market crash. We're the ones that will lose our jobs and our homes if it does crash hard.
Click to expand...

Thumper, I hate to say it, but I don't think he's going to get elected at this point without a major stock market displacement or a crash...the American people just don't get it yet....a big slap in the face might make things come into focus.
 
As I see it

A recession is inevitable. It is a question of how severe and much more importantly, HOW LONG. I would prefer we get it over with as quickly as possible by sharply decreasing federal spending. This could intensify the recession as a lot of bureaucrats join the unemployment lines and their spending and investing is missed. But it would lay the groundwork for recovery.

My two cents. Make that 1.87 cents. 1.73 cents. 1.64 cents.

Can I get a penny for my thoughts?
 
hankpyro said:
A recession is inevitable. It is a question of how severe and much more importantly, HOW LONG. I would prefer we get it over with as quickly as possible by sharply decreasing federal spending. This could intensify the recession as a lot of bureaucrats join the unemployment lines and their spending and investing is missed. But it would lay the groundwork for recovery.

My two cents. Make that 1.87 cents. 1.73 cents. 1.64 cents.

Can I get a penny for my thoughts?
Click to expand...

don't you mean a depression is inevitable? We're currently in a recession.

As Ron Paul said; we're going to crash and burn one day....if we have our civil and economic liberties, we will recover....if we don't,and they're squashed, we'll be another Empire in a textbook :(

edit: actually, if you have two 1981 pennies (or older), your pennies will be going up in value...so it's be 2.2 cents (where it's currently at), 2.5, 3...etc.

now, if it's a post 1982 penny...well, it will be going down...rapidly.
 
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So, if some folks wouldn't mind sharing their wisdom...

I'm 31, totally debt free, with about $10,000 in the bank. I've also got a rock solid whole life/savings plan with Northwestern Mutual that is banked in extremely stable stocks with about $15,000 in it. No 401k yet, was just planning to start that up now that the car is paid off. Decent and stable job in IT in NY with another opportunity in VA I have to decide upon today or tomorrow - more money, but not nearly as fun of a place to work, plus moving will suck. Reston's housing market is still very expensive.

What would be the best course of action to provide some future insurance against a stock meltdown? I've been planning to dump that savings into a Vanguard Roth/IRA, but right now I'm wondering if BullionVault might not be a better choice, for, say, half of that money, with more to follow if gold declines in value in the coming weeks (up to say $7500). I can always pump future paychecks back into stocks later.

My job skills are formidable - I can perform any IT task, specializing in hardware (up into the six figure range with 15 years experience to back it up). If the economy goes bust I can easily open up a business fixing/rebuilding/refurbishing computers. I'm not particularly worried about future income. It may not be what I am used to but I can live on it surely.
 
That was a wonderful read, thanks Rick. I remember reading a similar analysis like that back when we first went into Iraq, but this one has a more long term view of things. Both strike me as accurate. So, yes, time to invest in gold...
 
EvilNight said:
That was a wonderful read, thanks Rick. I remember reading a similar analysis like that back when we first went into Iraq, but this one has a more long term view of things. Both strike me as accurate. So, yes, time to invest in gold...
Click to expand...

EvilNight; check your Private Messages.
 
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