How about that Dow - Page 2

kimcicle · 10-06-2008, 05:09 PM

Quote:

Originally Posted by Fred 00

Is there anything that the common American people can do to stop the massive droppage? I'm not much of an economist major, so this question's just out there.

1. Stop buying shit you can't pay for. I'm not saying stop spending completely, but focus on clearing out some debt if you have it. If you have some spare money and that HDTV you want is on sale, I would say go for it. Don't go out buying a $50k car or a $400k house on a $10 an hour salary in an attempt to help "jump start the economy."
2. Don't pull your money from the banks. We do not want to damage the liquidity of financial situations, and demanding to pull out all of your savings will cause other people in the bank to start pulling money. And then their friends will start pulling money. And then it ends up like It's a Wonderful Life. But instead of a moral lesson and a White Christmas we'll have lost jobs, lost wages, and more people worse off than at the beginning. The FDIC will insure up to $100,000 of your deposits, so do not worry unless you have more than $100,000 in the bank.

Other then that, most of the things in the financial situation is outside the hands of individuals. The market is a scary place where panic will override common sense and the opinions on things can be swayed at any moment. Work hard, save some money (and put it into a savings account), and be prepared to tough it out for a while.

BanYa4eVr · 10-06-2008, 10:35 PM

I think it mostly has to do with what was mentioned above, and confidence.

The news media isn't exactly helping either by constantly broadcasting "Another Depression?" and constantly reminding people of the large point losses.

Coverage IMO should try to shift towards positive solutions, instead of constant worst case scenario broadcasts.

LAMBORGHINI FCUKER · 10-06-2008, 10:41 PM

Quote:

Originally Posted by red shoe paul

A Shuffle. But NOTHING is smaller than that.

You didn't see last night's xkcd.

もも · 10-06-2008, 11:28 PM

Quote:

Originally Posted by kimcicle

1. Stop buying shit you can't pay for.

THIS SHIT.

SERIOUSLY.

ranatalus · 10-07-2008, 07:54 AM

Quote:

Originally Posted by Dear Santa

Did anyone hear anything on the new North American standardized currency, the "Amero"?

it's not new; it's something that has been casually discussed for a while and will likely never come to pass

Blackraven · 10-07-2008, 09:28 AM

Economic crisis of 2008 - Wikipedia, the free encyclopedia
Financial crisis of 2007-2008 - Wikipedia, the free encyclopedia
Liquidity crisis of September 2008 - Wikipedia, the free encyclopedia

Scary shit indeed.

I'm trying to get as much insight and info in order to understand this issue better and from what I've read and witnessed so far seem to indicate the same thing.

I guess this is the downside of economic and financial market(s) that are globalized, driven primarily by only one movement or action and can be easily affected by speculation.

That's generally the situation right now (though you can correct me on some of my points above).

Nevertheless....

It will apparently continue to unleash its ugly head to us until at least next year

The misery and the agony are not over just yet

DeusExMachina · 10-07-2008, 09:33 AM

Quote:

Originally Posted by Reenee

Uh oh, what's smaller than a nano?

a Nano is 0.000000001 one billionth
a Pico would be smaller 0.000000000001 one trillionth
then goes femto and atto, just add 3 zeroes

Just buy more when the market bottoms out by December.

Blackraven · 10-07-2008, 10:03 AM

Quote:

Originally Posted by DeusExMachina

buy more when the market bottoms out.

I see.

Though given the current state of economies and financial institutions atm, it may look like December this year could signal a very bleak holiday spending spree.

Which in turn leads to poor consumption during a timeframe where consumption of goods and services is at its strongest point in any given year. (and one of obviously knows that consumption is a primary driver and booster for any economy)

I just hope it won't happen to be that way

LAMBORGHINI FCUKER · 10-07-2008, 10:35 AM

That's what post-Christmas clearances are for.

Or Black Friday.

ranatalus · 10-07-2008, 04:28 PM

well yes, but given the current market instability and the trends of economic downturn, a lot of people may decide that it's time for a very frugal holiday. i'm sure some companies are looking forward to the christmas season as a way to make up a little lost ground and end the year on a good note, and a cooled spending season could potentially drive a few companies under

also this will probably be the first year ever where the stock market ended lower than it started

BemaniAK · 10-07-2008, 10:01 PM

Quote:

Originally Posted by Reenee

You didn't see last night's xkcd.

Goddamn to they have to shove Guitar Hero and Rock Band into *every* fucking comic?

SF1 · 10-08-2008, 12:38 AM

Quote:

Originally Posted by Reenee

Uh oh, what's smaller than a nano?

A zero.

Heavy Metal Hero · 10-09-2008, 05:08 AM

Quote:

Originally Posted by SF1

A zero.

actually no a nano is roughly 1 billion times smaller than zero

nice try though

*dat shit cray* · 10-09-2008, 07:31 AM

Quote:

Originally Posted by fornicate forum boredom

actually no a nano is roughly 1 billion times smaller than zero

nice try though

1 billion times 0..... is 0....

Also anyone that is interested in seeing how a bailout plan could be effective, read up about Sweden in the 1990s. They were on the verge of a similar economic downturn due to a housing and credit bubble popping when they set up publicly owned banks that ate up all the "toxic" mortgages and debt. When the crisis was over, the government sold the banks, causing little to no harm to the GDP and with no cost to the taxpayer.

Blackraven · 10-09-2008, 09:42 AM

Quote:

Originally Posted by fuсk forum boredom

well yes, but given the current market instability and the trends of economic downturn, a lot of people may decide that it's time for a very frugal holiday. i'm sure some companies are looking forward to the christmas season as a way to make up a little lost ground and end the year on a good note, and a cooled spending season could potentially drive a few companies under

also this will probably be the first year ever where the stock market ended lower than it started

Agreed.

I was thinking of that same scenario as well.

This is what seems to have pushed inflation way above normal in many countries.

Quote:

Originally Posted by PSYCHO KILLER

Also anyone that is interested in seeing how a bailout plan could be effective, read up about Sweden in the 1990s. They were on the verge of a similar economic downturn due to a housing and credit bubble popping when they set up publicly owned banks that ate up all the "toxic" mortgages and debt. When the crisis was over, the government sold the banks, causing little to no harm to the GDP and with no cost to the taxpayer.

Interesting that Sweden knows (or knew) how to fight such an economic crisis.

However, just a few kilometers away, the opposite is happening in Iceland (wherein its largest bank is almost a few inches away from declaring bankruptcy).