Thread: And the stock market goes BOOM! CHRRRR!

I was watching this as it happened, it closed at like -777.68 I think, being called the biggest drop in the history of the stock market.... Kind of scary stuff.

I think this is good, because the stock market was the fail from the beginning.

It's all imaginary money, thus, when it disappears so does most of the (non)cash in the country.

Ugh, why do I need to be looking for a job now?

Originally Posted by A Roxxor

I think this is good, because the stock market was the fail from the beginning.

It's all imaginary money, thus, when it disappears so does most of the (non)cash in the country.

All money is imaginary. Even gold coins in ancient Rome had no intrinsic value. What use would the Romans have for gold other than making shiny things? They didn't need gold for sensitive electronics like they do today. My point is that simply pointing out the abstractness of the market does not automatically mean it's wrong. The market is a buffer between traders that also lubricates the world economy. Without it, you wouldn't be able to buy an iPod without traveling to Malaysia. Hell, you wouldn't be buying an iPod because you'd be too busy farming for your own survival. No market means you gotta pull your own weight, quite literally. Doesn't sound so pleasant, does it?

The Stock Market <----Click

WHAT THE FUCK?!

Thank God our family isn't that connected to the Stock Market... I feel sad for others though.

Hopefully Obama can be our FDR.

That's not what I meant.

The entire stock market is based on companies telling people their projections, and then recieving money from investors for their company. It all has to do with the economy. So it's like a double negative-- Economy goes bad, people pull shares, stock drops, and then BOOM economy implodes.

At least the government saved the mortgage holders.

If you actually have money, on you, as in bills, you still have something to barter when the economy is down. But I seriously doubt that people would accept what you think you might probably have on you next month as legal tender.

OD is right...the stock market lost 1.2 trillion dollars in one days time due to the failure of the bailout. I say we head for the woods, get about a thousand dollars to buy supplies for a log cabin and basic weapons...and then just live off the land.

I don't think we need to resort to survivalism just yet...

shhhhh......my uncle has already bought six month supplies of goods, and is trying to get my mom to do the same

Originally Posted by juroara

shhhhh......my uncle has already bought six month supplies of goods, and is trying to get my mom to do the same

That's a good idea, actually. But it's always good to be prepared. That's true on days when the stocks are high, too. But I can guarantee you that one bad day on Wall Street won't end Western civilization as we know it.

Originally Posted by A Roxxor

I think this is good, because the stock market was the fail from the beginning.

It's all imaginary money, thus, when it disappears so does most of the (non)cash in the country.

Oh God, you know nothing about economics.. most successful businesses were first built upon stocks, and bonds.

oh and u guys know nothing about whats really going on. 700 billion is close to half the nations annual budget (yes the whole god damn nation). Why should we just throw it away to people who were so caught up with short term gains and lending their money to people who didn't have any business getting it that they dug their own hole..

And this whole stock market thing is just a stunt that the brokerage firms are doing to pressure congress to bail them out. This is just a ploy. The brokerage firms (which are bidding for this bail out) have control over the stock market and can cause it to dip and go up on a whim.

We don't need to give this money to these massive corporations we need to give it to the american people....

Do you people understand how much money 700 billion dollars. It is enough to give every taxpayer over the age of 18 468,000 dollars. Tat means that wit that kind of money we could pay off all of our car, student, house loans...

but beyond that throwing 700 billion dollars into the economy will DESTROY the economy with mass inflation.

One step closer to Socalism?

We don't need to give this money to these massive corporations we need to give it to the american people....

Do you people understand how much money 700 billion dollars. It is enough to give every taxpayer over the age of 18 468,000 dollars. Tat means that wit that kind of money we could pay off all of our car, student, house loans...

but beyond that throwing 700 billion dollars into the economy will DESTROY the economy with mass inflation.

I really don't buy that plan. Anyway, the move is not to give the massive corporations money, but to get the banks lending too each other again.

Well, ten more years of economic hardship, thats how long Japan took to recover when it had a crisis in 1990's.

Originally Posted by Dreamworld

Oh God, you know nothing about economics.. most successful businesses were first built upon stocks, and bonds.

And look where it's gotten us.

Might want to check your math, ace. I'm getting about $4,600 per worker. That's about 700,000,000,000 / 150,000,000.

Originally Posted by A Roxxor

And look where it's gotten us.

Everything you own, including the clothes on your back, not to mention your education, your food, and your lifestyle?

Originally Posted by drewmandan

Everything you own, including the clothes on your back, not to mention your education, your food, and your lifestyle?

Oh yea, as long as you don't mind the collapsing economy every now and then.

Just becuase we use the system, doesn't mean it is a good one.

Originally Posted by A Roxxor

Oh yea, as long as you don't mind the collapsing economy every now and then.

Just becuase we use the system, doesn't mean it is a good one.

The economy collapsed? When did this happen? Someone better tell all the shop owners and factory workers that the economy collapsed! Why wasn't I informed? LET'S ALL MOVE INTO THE FORESTS! MONEY DOESN'T WORK ANYMORE! THE ECONOMY HAS COLLAPSED!

It's certainly on its way into the ground at warp speed.

Originally Posted by A Roxxor

And look where it's gotten us.

There wouldn't be any other option.. The stock market is a staple of economy in general. We haven't even felt any financial blows.. your on the computer, you eat every day, and your electricity is being paid for isn't it?

Yes, but just barely.

But there has to be some way to regulate the BS'ing that goes on. I mean, Enron, much? Those guys just wrote numbers down as their projected outcomes, and that was that.

It should at least work the other way around.

When I move into the woods my name's going to be Sunrise Panther!

Originally Posted by A Roxxor

Yes, but just barely.

But there has to be some way to regulate the BS'ing that goes on. I mean, Enron, much? Those guys just wrote numbers down as their projected outcomes, and that was that.

It should at least work the other way around.

Shows what you know. This stock crash had absolutely nothing to do with cooked books. It was an entirely legal and legitimate crash.