Ruh-Roh. Economic MELTDOWN today...

[jake]

the Toronto stock exchange is tanking up here

 

[matthylland]

Can someone please explain to me how this affects you average Joe? (no sarcasm intended)

Hmm, well here is how I would put it.

With our situation now, I think it is likely that the Fed acts before their Jan 30th meeting. They will lower interest rates. (That rate banks borrow from the Central Reserve). This leads to inflation....meaning every dollar in your wallet becomes less when they cut rates and print money out of thin air.

Our economic system today doesn't think rationally, people live and die by waiting to see what the Central Bank (Fed) will do....but they are the problem, in my opinion.

So if you dont have money in the market even, you are still effected by higher prices in the future.

Obivously, it effects people in the market a lot. Brazil's market is down 7% today...That is Billions and Billions of dollars in losses. (that is the 6th largest market in the world).

London's stock market was down 3+% today,,,resulting in 60 Billion dollars lost.

With this day off the American Markets have...it will make it very interesting to see what happens tomorrow.

 

[Fyretrohl]

Here is what I have seen as the problem lately...The wrong 'terms' are being used.

Recession - Nope, we are not in a recession. Not according to the text book. Instead, our economy is growing slower than normal. Still growing, but slowly.

Depression - NOPE. Not yet. Not unless we are talking the clinical term, instead of the economic term.

SO...What term is correct? My dollar does not buy as much. I make more than $90k per year and guess what...I can't even afford to donate to Ron Paul. So, am I maxed out in debt? Nope. One credit card that is too high and closed, but, only $300 per month. No car payment. 2 student loans at $100 each. 200k house at $1500 per month. That really is it. Standard bills. No cell phone contract, only pre paid. Vonage instead of normal phone line. Try to stay cheap. But, with a family of 6 and a single vehicle...I pay over $1300 a month in food and around $600 in gas. I am working to get out of debt and am able to apply some to that, but...Not enough. I have a second job <Thanks Mr Bush for telling us that that is great' in America>. So, what IS the correct term to use?

 

[hells_unicorn]

I just lost a music student of 2 years to a company lay-off, this oncoming depression is not going to be good for me, I'm glad I've already invested $2,300 in a real asset.

 

[RadioDJforPaul]

Sure this is what Ron has been talking about. But I'm afraid the average voter is just gonna look to Huckabee, McCain, and Romney to see what they say, about how they can fix it. Let's ignore the guys who has had the answer for years...

 

[kyleAF]

"Our economy is fine" - Mike Huckabee

Anyone have any similar quotes from the other candidates??

 

[crink]

I hate to say Ron told you so.... but

 

[fuzzybekool]

Check Nostradamus for any quatrians predicting this economic collapse, lol.

 

[matthylland]

Anyone have any similar quotes from the other candidates??

I dont have the video right infront of me, but the last debate, at Myrtle Beach, they were asking the candidates what they thought of the economy...look for that, im sure there are some "good" (as in funny) ones from the others

 

[JGalt]

we need to get quotes from the other candidates saying that the economy is fine, and string 'em together into a youtube vid. Then add Ron's stance at the end. Then digg the hell out of it to try and spread the message.

 

[transistor]

This is not good. I've already lost way too much money in 2008

 

[PAULinSC]

Dow futures down 514 points today to 11,592.

 

[matthylland]

we need to get quotes from the other candidates saying that the economy is fine, and string 'em together into a youtube vid. Then add Ron's stance at the end. Then digg the hell out of it to try and spread the message.

agreed!

 

[ShowMeLiberty]

I hate to say Ron told you so.... but

ROFLMAO!

I'm going to use that if you don't mind.

 

[RoyalShock]

my 401k will be crying tomorrow.

If my employer didn't match a portion of my contribution, I'd quit contributing until (or if) this recession passes.

Mine lost 1.5% last quarter. I hope I can avoid a 5% loss this quarter.

(Crossing my fingers)

 

[Oyate]

If my employer didn't match a portion of my contribution, I'd quit contributing until (or if) this recession passes.

Mine lost 1.5% last quarter. I hope I can avoid a 5% loss this quarter.

(Crossing my fingers)

ALL YOU PEOPLE WITH 401Ks, IRAs, MUTUAL FUNDS!

Whatever it is, if it isn't heavy on oil, defense or gold/silver, it's long past time you bailed out. And don't keep any more than $2k in USD cash.

 

[The Good Doctor]

The only saving grace of this whole mess is that it makes Ron Paul look even smarter instead of coming off like the boy who cried wolf.

Yes, the stock market is closed today for Martin Luther King Day.

We're all just waiting for tomorrow's bloodbath.

 

[BeFranklin]

Cramer was predicting 2,000 drop in a month. That its coming on this quick, and the sell off was when US stock markets where closed makes me think it might be worse.

I hope not. However, this - the monetary reason - is a reason for the Ron Paul blackout. Ron Paul is the only one that takes to task the fed chairman.

 

[BeFranklin]

The only saving grace of this whole mess is that it makes Ron Paul look even smarter instead of coming off like the boy who cried wolf.

The money powers will have even more of an incentive to black out Ron Paul.

On the converse, the voters have even more of a reason to want to know it, if it can get out.

 

[The Good Doctor]

It's so easy. Re-watch the debates.

we need to get quotes from the other candidates saying that the economy is fine, and string 'em together into a youtube vid. Then add Ron's stance at the end. Then digg the hell out of it to try and spread the message.