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Author   Topic : "Dow is Down on7500-*topic closed*pm.me if u w talk economics"
Jimmyjimjim
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PostPosted: Sun Nov 23, 2008 1:15 pm     Reply with quote
Drunken Monkey wrote:
umbus, ignore the snobbery...

Its been here for a long time and it will stay here. Every time a group of individuals with common interests gets together a sub group of "intellectuals" is formed that try to impose their bullshit fucking social norms on everyone else. How to talk how to walk... how to properly address their highly refined egos.

Post whatever the fuck you want. Fences are for monkeys. Laughing


Or maybe these "SNOBS" get sick of being insulted during what should be "a group of individuals with common interests" discussing something rationally.
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Drunken Monkey
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PostPosted: Sun Nov 23, 2008 1:54 pm     Reply with quote
this kid feels insulted too...


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Jimmyjimjim
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PostPosted: Sun Nov 23, 2008 2:07 pm     Reply with quote
Well, maybe you'd like to explain yourself instead of the "link and run" or posting pictures and being a dick. Anyone can do that.

I'm done on this forum. Be an ass to someone else. Can a admin please delete my account? I'm sick of this crap.
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Drunken Monkey
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PostPosted: Sun Nov 23, 2008 2:24 pm     Reply with quote
Explain myself?

You are done on this forum?

Lighten up dude. I know its week 12 an all, but its never an excuse to lose ones sense of humor. Or rage/emo quit a place you spent last 6 years on. Unless its some tactic to motivate a ban. For which i applaud you.



Anyway, I am gonna take myself seriously too now. And quit, since there is no one here for me to be a dick to anymore. Thats it, i will not be back until Jimmyjimjim returns. BYE EVERYONE.

This is how i feel right now.

Thank god for Korean bakeries.
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neff
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PostPosted: Sun Nov 23, 2008 4:19 pm     Reply with quote
So the monkey has spoken...
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Sumaleth
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PostPosted: Sun Nov 23, 2008 4:24 pm     Reply with quote
umbus wrote:
Well to be honest I am not sure anymore, I'm confused. Such an enormous process just to clarify why I am posting.

It's just that you seemed to get annoyed that no one was responding, but you never actually asked a question or made it clear what your point was, so there was nothing anyone could say.

umbus wrote:
You guys are not concerned about the economy? My main reason for posting was to see what you were thinking and perhaps what kind of state things are in where you live.

Personally, I'm not too concerned yet. Probably because it hasn't affected anyone I know, even a little bit, so I don't feel it yet. In fact, the unexpected (albeit probably temporary) boost it has given to the US dollar helps me immensely.

Australia seems like one of the few places that hasn't jumped straight to a recession. That might still happen, but our current "resources boom" seems to be holding its end up.

umbus wrote:
Oh wait maybe it seems like fearmongering posting the dow index...?
The post taken from another forum was from a news source, did anyone even bother to read it?

I gave it a quick read. Seemed to be a compilation of things I've seen elsewhere over the past few months, though it doesn't quote its sources so you don't know what value to give it.

My read is that this is one of those times where the pyramid constructed of cards topples. Which seems to happen from time to time, presumably because capitalist economies are based on the stock market and consumer confidence, both of which are held in the air by a cushion of confidence, and so both of which tend to fall at the same time. The trigger this time, if I read correctly, was an unregulated housing loan market. That knocked the top card, and we're still waiting to see how far the pyramid collapses.

My read is that this won't be as bad as "the great depression", because we know more now about fixing these events (though clearly not enough about preventing them), but it'll be a lot worse than the 86 crash. But that is based on what I've seen experts say, and I'm really not that confident that the experts know anything until it's already happened. Wink
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[Shizo]
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PostPosted: Sun Nov 23, 2008 5:29 pm     Reply with quote
F*ck DOW. Evil or Very Mad
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umbus
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PostPosted: Mon Nov 24, 2008 7:12 am     Reply with quote
Sumaleth wrote:

and I'm really not that confident that the experts know anything until it's already happened. Wink


Yes and that is the scary scenario, No one really knows. What's bothering me and why I posted the dow index is that never before have there been so much debt in the states, this with a plunging Market makes the Hole even bigger, eventually there will be nothing to fill the holes with.
Yesterday I read about another Bailout, what was it now?... yes! I think something about that Obama has promised another bailout package roughly 700 billion, don't know whether this is true or not...

Another thing, when unemployment starts soaring it is only gonna get worse. In the country where I lived previously the downward trend has been noticable for ten years, small country and u will notice changes quickly. Company's that Cuts corners with massive layoffs to save a few dollars, only to give bonuses to executives. But hey! it looks good on the stockmarket and the shareholders get what they want. (however that's not the case anymore...whatever)
Massive layoffs is what starts a negative trend, this will later affect everything.
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Last edited by umbus on Mon Nov 24, 2008 7:19 am; edited 1 time in total
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umbus
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PostPosted: Mon Nov 24, 2008 7:17 am     Reply with quote
umbus wrote:

Massive layoffs is what starts a negative trend, this will later affect everything.


and that is what I see happening with USA, if I would believe in a prayer I would have started last week.
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umbus
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PostPosted: Mon Nov 24, 2008 7:58 am     Reply with quote
Japan recession
http://edition.cnn.com/2008/BUSINESS/11/16/japan.recession/?iref=mpstoryview


Dow seem to be on the plus side so far today, I've heard echhoes though that it is gonna go below 8000 again...will see what happens.
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umbus
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PostPosted: Mon Nov 24, 2008 8:15 am     Reply with quote
http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home
Nov. 24 (Bloomberg) -- The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.


(from same source)
http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home
The worst financial crisis in two generations has erased $23 trillion, or 38 percent, of the value of the world’s companies and brought down three of the biggest Wall Street firms.

The Dow Jones Industrial Average through Friday is down 38 percent since the beginning of the year and 43 percent from its peak on Oct. 9, 2007. The S&P 500 fell 45 percent from the beginning of the year through Friday and 49 percent from its peak on Oct. 9, 2007. The Nikkei 225 Index has fallen 46 percent from the beginning of the year through Friday and 57 percent from its most recent peak of 18,261.98 on July 9, 2007. Goldman Sachs Group Inc. is down 78 percent, to $53.31, on Friday from its peak of $247.92 on Oct. 31, 2007, and 75 percent this year.


///
7.4 trillion, yeez the hole is way bigger than I thought.
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umbus
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PostPosted: Mon Nov 24, 2008 12:28 pm     Reply with quote
Drunken, Do you think the Amero is true? it keeps showing up in news and documents I've read. ...even in the article below.


(more regarding the economy)
Professor Igor Panarin said in an interview with the respected daily Izvestia published on Monday: "The dollar is not secured by anything. The country's foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse."
http://en.rian.ru/world/20081124/118512713.html
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umbus
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PostPosted: Tue Nov 25, 2008 12:28 pm     Reply with quote
*closing this sucker, as said if you wanna discuss economics feel free to pm me. I'm gonna do more research on my own.
have a nice evening
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