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Dow Plunges 508.39 In Late Selloff

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posted on Oct, 7 2008 @ 03:58 PM
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Well it looks like the economic rescue bill has done little to alleviate the fears of investors. No wonder, considering the fact that the plan had several things that would only lead to more distrust of not only the government, but also the banks. So, the "BIG" crash didn't happen today, but can sell-offs like this be a good sign for the next few weeks.

I think as more people become aware of the wording of the bill, the worse things will get, with possible "silent" runs on banks increasing until the banks will finally have to stop giving out money, which they can do under the new law just passed.

Gold jumped by $20, and the dollar fell -0.34 to further emphasize the exit from stocks into solid commodities, which bodes ill for the attempt to bolster the value of the dollar.

I fear rough times are ahead, and those who care about their financial status would do well to do some research as to why this is happening.




posted on Oct, 7 2008 @ 04:19 PM
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Just curious... but does anyone happen to know how much $700US Billion is in Ameros?



posted on Oct, 7 2008 @ 04:47 PM
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At $20.00 per Amero it's $35,000,000,000.00 and you just made that Fantasy Coin artist really wealthy.

If the market continues the trend over the next few weeks it will not be long before it tanks completely.

Average -300 points per day and it should be prior to Halloween when the market hits ZERO.



posted on Oct, 7 2008 @ 06:07 PM
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reply to post by 2stepsfromtop
 


Crash of 1929 was not a one day event.. it was a few months of huge, huge drops.. (% wise) ..

This is...

The single worst year for the DOW since 1937. And yeah, that's official.


PS there is no such thing as an Amero I wish people would just shut up about it....

[edit on 10/7/2008 by Rockpuck]




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