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World Markets Plunge - DJIA Futures Down Nearly 500 Points

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posted on Jan, 21 2008 @ 01:12 PM
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Does anyone remember my first thread on Predictions 2007? I hope this is not the case, but I believe that out of chaos will come something wonderful.

www.belowtopsecret.com...




My only prediction.

I know the the US stock market will hit 14,000+ mark by the end of the year the market has no reason to be this high, so it will start to slowly fall by early 2008.

In 2008 we will see a massive worldwide economic scandle the started in the USA and will make the dollar crash, in turn the rest of the worlds financial systems will fail. There will be confusion for a few months but out of the ashes will come a new system that is not based on money. I am not sure what this will be but it will happen. I whole new paradigm will come by 2012 it will be in full effect, a golden age and a new way of life.




posted on Jan, 21 2008 @ 01:15 PM
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reply to post by infinite
 


Speak for yourself my friend.

I really hope you know how to survive on your own. If not, start reading some survival manuals (the army field guide is a good start).

Make sure you have a backpack that can fit a months supply of food until you find a good place to settle down.

Get out of the cities as fast as you can. Run, bike, drive, fly whatever you got.

Make sure you're in an area with wild game, wild veggies, and water. It will save your life.


Realtruth,

The time has come.

[edit on 1/21/2008 by biggie smalls]



posted on Jan, 21 2008 @ 01:19 PM
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reply to post by biggie smalls
 


I wonder if the crash has anything to do with the TU24 asteroid scare: www.abovetopsecret.com...'

I think its quite a possibility. NASA is freaked out and told their handlers about it...



posted on Jan, 21 2008 @ 01:24 PM
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Man..I don't know what it is. That's pretty dramatic if asian and europeans are down like this. Guess all we can really do it wait for tomorrow, I know my dad was ready to sell


sty

posted on Jan, 21 2008 @ 01:41 PM
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the biggest drop since 9/11 . Something is not right. Rich people always know stuff before it is going to happen. My 5 £ something military is going to happen within 2 weeks!



posted on Jan, 21 2008 @ 01:43 PM
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I took out all my money from the stock market in November of 2007 and put it in CD's and mm accounts (which everyone told me I should not do, but it made me sleep better...).

There will definitely be a bad recession, but people here saying it is the second great depression are totally over reacting which is a usual on ATS...

With recession and the mortgage meltdown, it will be a great time to invest by buying foreclosed properties, financials, etc. once stocks hit rock bottom.

Wake me up when it is over



posted on Jan, 21 2008 @ 01:48 PM
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reply to post by RetinoidReceptor
 


Oh, I agree. This is not the second great depression.

People were taking out loans from the banks and investing in the stock market during the 1920s, which isn't happening on the massive scales (or even at all) now.

There'll be a US and maybe a world recession too, but I don't think we should be screaming the end is coming. Yeah, if the finanical system collapsed it would be extremely serious but I think the world (especially the West) would recover in time.



posted on Jan, 21 2008 @ 01:54 PM
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Originally posted by infinite
reply to post by RetinoidReceptor
 

People were taking out loans from the banks and investing in the stock market during the 1920s, which isn't happening on the massive scales (or even at all) now.


Are u serious? The savings rate in the usa is the lowest since before 1980.
Anyone have any #'s on that?



posted on Jan, 21 2008 @ 01:56 PM
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Originally posted by infinite
Yeah, if the finanical system collapsed it would be extremely serious but I think the world (especially the West) would recover in time.


It definitely would. Many economies are totally dependent on the financials. And the U.S. is at the very top of that list. China is as well. The Bank of China is starting to write down debt as well because of its exposure to the subprime market.



posted on Jan, 21 2008 @ 01:57 PM
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Originally posted by aaaauroraaaaa

Are u serious? The savings rate in the usa is the lowest since before 1980.
Anyone have any #'s on that?


I think what infinite means is that Americans have much less exposure to the stock market than what they did in the 1920's.



posted on Jan, 21 2008 @ 01:58 PM
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i'm a trader... and i've got everything in cash right now...uncle ben, the fed chairman is between a rock and a hard. massive amounts of "put" options....let's just say if you're thinking of buying stock...you might want to wait for awhile, it's going to get bloody



posted on Jan, 21 2008 @ 02:02 PM
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reply to post by aaaauroraaaaa
 


The exposure rate is not the same.

Yes, the financials have exposure to the sub prime fall out but if the stock market was to crash and have two days of double digit declines, then a rally, we would all be fine.

China is different. Investors are taking money out of banks (loans) and floating it straight on to the market. But the Chinese stock market bubble is expected to have its own 1929 soon (hopefully not in the next few days!)

Plus, our economies are more centralised on a global scale. The great depression lasted so long because the decline in international trade.



posted on Jan, 21 2008 @ 02:05 PM
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Originally posted by RetinoidReceptor

Originally posted by aaaauroraaaaa

Are u serious? The savings rate in the usa is the lowest since before 1980.
Anyone have any #'s on that?


I think what infinite means is that Americans have much less exposure to the stock market than what they did in the 1920's.


what I am saying is that is there was extensive job loss, people would have little to no savings to hold them over for a year or two.



posted on Jan, 21 2008 @ 02:05 PM
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i just got out of my trading platforms chat window and everybody was wishing they had "put" options or had bought more...all others are getting the hell out of their long positions...hoping for a spike up at tuesdays bell



posted on Jan, 21 2008 @ 02:08 PM
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reply to post by jimmyx
 


Jimmyx, as a trader, what do you think about putting my money into gold and other precious metals? Traditionally, as the dollar devalues, the price of gold soars. Would appreciate your thoughts.

Check out my blog: Esoterica in America



posted on Jan, 21 2008 @ 02:10 PM
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Originally posted by AJ Lavender
reply to post by jimmyx
 


Jimmyx, as a trader, what do you think about putting my money into gold and other precious metals? Traditionally, as the dollar devalues, the price of gold soars. Would appreciate your thoughts.

Check out my blog: Esoterica in America


Don't buy market gold (GLD, etc), buy actual real gold that you have and can hold in your hand. Don't forget the government forced the sale of any civilian holdings of gold in the early 1930's for at dirt cheap prices. Now that gold has gone from $20 to $850+ an ounce, that's a killing made on the government's/Vatican's(the #1 holder of gold in the world) part.



posted on Jan, 21 2008 @ 02:13 PM
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reply to post by aaaauroraaaaa
 


That's related to the economy,
if the stock market plunges you are not necessarily going to lose your job



posted on Jan, 21 2008 @ 02:15 PM
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Originally posted by aaaauroraaaaa

what I am saying is that is there was extensive job loss, people would have little to no savings to hold them over for a year or two.


You're right. And with the tighter credit controls it will make things even worse. Unless the government steps in and passes legislation to control interest rates which would be totally anti-capitalistic but with a Democratic house and president, it could be a reality and possibly necessary.

Or perhaps the job market may not be affected that severely( though you will be seeing massive lay offs in the financial sector).



posted on Jan, 21 2008 @ 02:17 PM
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Originally posted by Xtrozero
I would think unemployment would be the key indicator.

unemployment figures are misleading due to the fact that Bush's
domestic policy for the last 7 years have brought normal working
folk away from working for other people and put them into
working their own business. If their business goes belly up,
they can't go sign up for unemployment OR BE INCLUDED in that
unemployment number. So if you add in the 7% national unemployed
rate plus all the folks who AREN'T counted (businesses gone bankrupt)
then we have a more elevated unemployment rate of about
20% (estimated). The problem is the Bush's policymaking doesn't
recognize the 20% unemployment rate but only the 7% so the
markets go into recession based upon normal folk no longer have
the money to spend.

3 out of 5 people in the US could be out of work and the unemployment
rates would not reflect it cuz if you are a business owner or work
for yourself then you aren't included. The small business owners
have been forgotten.



posted on Jan, 21 2008 @ 02:18 PM
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Originally posted by infinite
reply to post by aaaauroraaaaa
 


That's related to the economy,
if the stock market plunges you are not necessarily going to lose your job


lol.... But ask yourself "why is the stock market plunging?" Business's are going under...? American Home Mortgage going under summer 2007 didn't mean anything? Those people didn't lose jobs? Massive layoffs in the Automotive industry because people aren't buying cars... Which leads to layoffs with their suppliers... Thus people can't buy homes... Which has the most amount of homes on the market since early '90s... Just wait until the commercial sector follows (usually lags housing by 1-2years) Citigroup layed off how many people...? This is just the beginning.
Unemployment was announced early January to be at 5%, that's going to be the number to watch going forward.



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