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Dow industrials fall below 7,000; lowest since '97

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posted on Mar, 2 2009 @ 11:23 AM
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reply to post by worldwatcher
 


Maybe they needed some sort of justification for the money in order to build those special VIP bunkers and spacecrafts
.




posted on Mar, 2 2009 @ 11:31 AM
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reply to post by TheRealDonPedros
 


my 16 year figure is just to include the Clinton presidency in the blame game too, though I could go back further, I preferred to start with him since many people don't realize that a lot of our current issues stems from his era and Greenspan because we were in a bubble then and couldn't see what their actions would produce now.



posted on Mar, 2 2009 @ 11:39 AM
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March 2009 was always going to be an important month for predictions, cycles and waves, which is why I am interested in teklordz' cited thread (several posts above).

This is a document that underlines the (seemingly natural) ebb and flow of the stock market. The title page sums it up for me. (produced Oct08)
'It's just time'

The above document is well worth a read and pinpoints March 2009 at the tipping point of the latest bear. Recovery is located at around June 2011.

It's just time for a depression folks. Although, I am wondering where the repeal of the Glass-Steagall Act in 1999 fell in with the waves and stars? Without this, I cannot see where the depression would have sourced from!



posted on Mar, 2 2009 @ 11:47 AM
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Originally posted by CeltAngel
Scary stuff indeed. There's a reason I pulled out of the market at 13,000. What's even scarier is the people that think this is temporary and everything will go back to normal very soon.


Get out? No way, I'm investing right now, following Warren Buffet's advice. This will turn around - it's just a matter of when.



posted on Mar, 2 2009 @ 12:03 PM
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reply to post by worldwatcher
 


That seems to be the big secret these days--how many of our problems started under clinton. people are so determined to blame bush for everything that they can't look at individual facts.

I think our biggest problem now is that changes are being made that even a market upturn (unlikely I know) wouldn't help. So much money has been spent and the precedent has been set that if someone is big they'll be bailed. Also the new tax philosophy that will affect virtually all of what we spend in the future. It seems blatantly anti-business to me. The amt of debt incurred even since obama was inaugurated is staggering and even his own people say it's just the beginning. He intends to transform everything about this country. Fear is the lever he is using to do it. The lower the Dow goes, the more scared we get, the more he can justify sweeping action. Once he crossed that line of spending virtual money there was no turning back. I don't think he perceives limits.



posted on Mar, 2 2009 @ 12:14 PM
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The only thing that the markets are showing right now is that the health of our economy is beyond recovery right now.

The first bail out, the cash infusions since 2007 are not working.

Money has been wasted while been allocated to keep the banking system in life support.

this will keep falling until the plug is taken and the already death banks are lie to rest.

But with the so call economics in this nation and the politicians handling the crisis we are digging our nation deeper into a hole.

The more money the government keeps allocating to the economy recovery and the survival of the banking institutions is money that has to be borrowed at the expenses of tax payer.

You can not fix an economy that is losing its job force and people are layoff at an incredible fast pace while borrowing in their behave.

The morons in Washington are playing with this nations wealth being and they have not clue what to do but to keep throwing tax payer money to the bottomless pit that our economic mess has become.



posted on Mar, 2 2009 @ 12:21 PM
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reply to post by marg6043
 


I agree. Intelligence is not present in goverment interventions concering the economy. If we had intelligent people in goverment, americans and others would not suffer so much. They are playing a dangerous game and we already passed the point of no return.


[edit on 2-3-2009 by teklordz]



posted on Mar, 2 2009 @ 12:22 PM
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Originally posted by marg6043
The only thing that the markets are showing right now is that the health of our economy is beyond recovery right now.



The economies of both the US and the UK will be beyond recovery for some significant time as well, the amounts our governments have borrowed and continue to borrow will mean our countries could be financially choked for 30 years or more



posted on Mar, 2 2009 @ 12:29 PM
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reply to post by teklordz
 


What's an even scarier thought is if intelligence is present....

If that's the case, then its scarier than worrying about a bottom and when the markets going to recover.

Peace



posted on Mar, 2 2009 @ 12:30 PM
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reply to post by solidshot
 


The only good news is that "borrowing" is meaningless in a global economy.

You can't borrow non-existant money from others who don't have any to lend out in the first place.

China will emerge the worst loser from the global collapse. The US debt they own will be worthless.

After the collapse of the entire system, the USA will get off scot free, and will be back to the old ways of dollar hegemony.

The ledgers are going to get burnt during this depression. Undoubtedly.



posted on Mar, 2 2009 @ 12:35 PM
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Originally posted by TheRealDonPedros
reply to post by teklordz
 


What's an even scarier thought is if intelligence is present....

If that's the case, then its scarier than worrying about a bottom and when the markets going to recover.

Peace

Do you feel that the present financial system is what we need? i'd rather have a resource based economy, we wouldn't need money markets. We just need intelligence. Real intelligence! (not intellect, wich is based on the memory of the human race)
The biggest problem humans have is the memory of the race.



posted on Mar, 2 2009 @ 12:49 PM
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Originally posted by sos37

Get out? No way, I'm investing right now, following Warren Buffet's advice. This will turn around - it's just a matter of when.


Exactly everyone and their grandmother are bears. The doom and gloom party is getting WAY too crowded and I was one of the first to show up. The Rothschilds, Warren Buffet and all the others have taught us that to:

Be fearful when others are greedy and to be greedy when others are fearful.

I am going to buy BAC for a short run up when it tanks further into panic mode. I am still a bear over all, but now EVERYONE is bearish same as when the DOW was at 14,000 everyone was BULLISH.



posted on Mar, 2 2009 @ 01:03 PM
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Originally posted by 44soulslayer
reply to post by solidshot
 


China will emerge the worst loser from the global collapse. The US debt they own will be worthless.

After the collapse of the entire system, the USA will get off scot free, and will be back to the old ways of dollar hegemony.

The ledgers are going to get burnt during this depression. Undoubtedly.


totally agree, and we the American people are going along for the ride, while books that were cooked gets burned.



posted on Mar, 2 2009 @ 02:46 PM
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US future,

So far this what has been going on,

1-50 million workers will lose their jobs worldwide this year.

2-The collapse has already seen 3.6 million lost jobs in the United States.

3-The International Monetary Fund's prediction for global economic growth in 2009 is 0.5 percent--the worst since World War II.

4-2.3 million properties in the United States that received a default notice or were repossessed last year.

5-About 20,000 major global banks collapsed, were sold or were nationalized in 2008.

6-There are an estimated 62,000 U.S. companies expected to shut down this year.

7-Consumers, thanks to credit card companies and easy lines of credit, are $14 trillion in debt.


retired Adm. Dennis Blair, testified before the Senate Intelligence Committee. He warned that the deepening economic crisis posed perhaps our gravest threat to stability and national security. It could trigger, he said, a return to the "violent extremism" of the 1920s and 1930s.

It turns out that Wall Street, rather than Islamic jihad, has produced our most dangerous terrorists. We will see accelerated plant and retail closures, inflation, an epidemic of bankruptcies, new rounds of foreclosures, bread lines, unemployment surpassing the levels of the Great Depression and, as Blair fears, social upheaval.
.

www.economyincrisis.org...



posted on Mar, 2 2009 @ 03:20 PM
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Originally posted by teklordz
I agree. Intelligence is not present in goverment interventions concering the economy. If we had intelligent people in goverment, americans and others would not suffer so much. They are playing a dangerous game and we already passed the point of no return.


Agreed!

The things that are happening now is a perfect indication of what I have always said; ivy league degrees do not prepare a person for the real world. In fact, the only thing that prepares a person for the real world is real world experience. The electorate in this country is going to find out the hard way over the next four years just how true that bit of wisdom is! And it will be very painful indeed!



posted on Mar, 2 2009 @ 03:28 PM
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Im not sweating it. The dow goes up, the dow goes down. Always has. We will get through this financial mess. I personally blame the media. I know TONS of folks who have money to spend but they tell me they are scared to because of what they see on TV and them beign scared to spend money makes the crisis worse.



posted on Mar, 5 2009 @ 02:29 PM
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The DOW right now is down over 260 points or almost 4% at 6616.

Stocks tumble as investors worry about banks, GM
biz.yahoo.com...


Stocks fell across the board, with the beleaguere banking sector posting some of the steepest losses. Shares of Citigroup Inc., still shaky despite receiving billions in government aid, at times sank below $1. General Motors, meanwhile, dropped below $2 as it warned of possible bankruptcy.


Gold is at $931 and Silver at $13.29. Metals still going strong.

[edit on 5/3/09 by MikeboydUS]



posted on Mar, 5 2009 @ 03:05 PM
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reply to post by TheRealDonPedros
 




Couldn't disagree with you more, under Ron Pauls "Do nothing let the markets decide whats toxic or not" attitude the markets would be much lower than they are today.


I have to disagree, as much as there are other things I like about Rep. Paul.

The right's "faith based economics" is what got us where we are today.

Banking deregulation was pushed as "getting the .gov out of the economy" on the idea that markets self regulate, and that the banks would behave responsibly due to market forces.

It didn't happen, the banks invested in a bunch of bad loans because they could make a short term killing regardless of the long term consequences, and because the regulatory barriers to this kind of behavior had been removed..

The idea that "markets will fix everything" is as foolish as the idea that "government will fix everything".

Some degree of government regulation is required to keep things like this from happening.

Hello, 1929?



posted on Mar, 5 2009 @ 03:20 PM
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Originally posted by princeofpeace
Im not sweating it. The dow goes up, the dow goes down. Always has. We will get through this financial mess. I personally blame the media. I know TONS of folks who have money to spend but they tell me they are scared to because of what they see on TV and them beign scared to spend money makes the crisis worse.

You blame the media for reporting what the economic leaders and world leaders are saying at the moment?

I am no fan of the media, but when you hear the words out of the mouths of our leaders themselves it is a bit rich blaming the media.

The media report what they are told to report, and they are being told to report, Climate change, carbon taxes and global ecenomic crisis.



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