The markets are crashing! The markets are crashing!!!

reply to post by SeekerofTruth101


Yes, Bernanke is also forcing banks to loan money, but the problem with that is very shady, US bankruptcy rate is high, unemployment is high so who are the banks to lend when they know that defaults are high.

I was talking with my daughter that works for a bank, the bank is small local bank, they only lend money to established customers with outstanding records, yes they do not do mortgages they specialized on local businesses.

We went from producers to spenders to spenders on credicard debts, to unemployed, to working poor. Is going to take more than throwing a few billion dollars into the economy to bring this nation around.

The last stimulus all it did was to preserve local jobs like teachers and police in the states that were in most trouble, we have not seen anything of value from that stimulus to this day, the next one is not going to be any different.

Hey, before you panic, grabbing your BOBs and heading for the hills, here's a link to the top 10 crashes in US history: leatherheadblog.com/2008/09/30/top-10-market-crashes/

Hopefully the link works, but if it doesn't, just google history of market crashes. One of the neat things I read was that 6 of the top ten occurred between September and November. Also, check out Black Monday1987....Now that was a crash.

Also, if you look at the past ten years, 2009 was a whole lot worse than this!

You may now return to your panicked lives...

reply to post by Feltrick


This is a pretty big two day crash, it's over 700pts (about 7~8%)... To say not to panic when the markets are panicking is kinda silly, don't ya think?

The last hour of trade will be worthy of watching. if it ends like it did yesterday, then there is something to worry about.

Chances are we'll see some biuyback, or you'd think.

Going to be another ugly day for the Australian markets, least its friday here.

reply to post by marg6043


What your daughter's bank had done is correct and right. They have to weigh the risks well.

What other big banks had done was unconscionably wrong. They practically gave their money away to anyone who wants it. They thought they had the power to enforce debts, espacially national ones. They thought wrong. Now they pay the price.

So how should a new banking systems arise and make money after this debacle? Offer lower interests to depositors, calcalate rationally its risk ratios, do what your daugher's bank is doing, are just some starters. I alone dont have all the answers. But with greater involvement by communities of mankind in discussions, debates and transparency, I am sure a better and more evolved banking systems can materialize over time.

It's already too late to cry over spiltmilk. It's what lays ahead that we should be considering now, as we mankind are still alive today, still have a few bucks in our wallets. Doom had been averted. The fights are over. It's time to rebuild....

The only ones that should panic is anybody that have pension funds and retirement accounts, because that is one of the things that this so call "crash" is going to target, Bernanke is also after those type of investments.

Everybody talks about Greek path to slavery, with austerity, unemployment and poverty that is what we in the US has been on for the last 10 years, but stimulus into the economy keeps the people from realizing the truth.

People needs to realized that the Markets is the biggest ponzi scheme of all times.

Originally posted by JJDoggie84
reply to post by Feltrick

 

This is a pretty big two day crash, it's over 700pts (about 7~8%)... To say not to panic when the markets are panicking is kinda silly, don't ya think?

Seems we've survived a lot worse! 1987 lost 23% in just one day!!!! 2009 dropped below 7,000!!!! And yet they rebounded each and everytime. Those who panic will lose the most. The smart investor will be having a great time picking bargains. Life of an investor.

reply to post by SeekerofTruth101


I completely agree and do not feel remorse for those big financial institutions if they crash, but sadly we were forced to bail the out, then they kept that liquidity to enhance their portfolios, give away to their most valuable shareholders and screw the people that were the ones to benefit from that money.

Many of this institutions took some of that money to invest oversea.

Still with the high unemployment in this nation how can we the tax payer support the economy anymore as working poor or just no work at all.

Sad, truly sad.

My humble meager money resides in my local bank which is not one of those too-big-2-fails, just only a regular bank with branches here and there. Should I leave my humble abode --right now-- and go withdraw all my cash out of there? Thanks.

Originally posted by marg6043
The only ones that should panic is anybody that have pension funds and retirement accounts, because that is one of the things that this so call "crash" is going to target, Bernanke is also after those type of investments.

Everybody talks about Greek path to slavery, with austerity, unemployment and poverty that is what we in the US has been on for the last 10 years, but stimulus into the economy keeps the people from realizing the truth.

People needs to realized that the Markets is the biggest ponzi scheme of all times.

The pension and retirement accounts are already gone, you just haven't been told yet. Most are backed by mortgage backed securities i.e. foreclosures/loan fraud/home values tanking/underwater mortgages.

reply to post by simone50m


I can not tell you what to do with your money, but I can tell you what I know from my daughters work place, as a small local bank they are very successful and the 2008 crash didn't affect them much, they didn't needed any bailout and they did just fine.

Is good to ask your bank if they have taken bailout or how they are link to big financial institutions, like that you know how your bank stand in case of a crisis, now if is a national crisis, not bank regardless of status as local or big will come unscathed.

Good luck my friend. My husband and I have investments with big financial institutions we lost lot of money during 2008, to this day we have not recuperated yet, and it seems that we will not in the near future the way things are and not, we didn't do a bank run and our investments are still where they have been before 2008, we just let things happen and live with it.

reply to post by Julie Washington


Great point!

Money based on paper, that is backed by paper, backed fraud, based on lies...

reply to post by Feltrick


Yeah just like in Japan uh? I mean those who stayed at NIKKEI 38,957 sure are rich today uh? They stayed when it dropped to 30 000... then 20 000... then 10 000... then now it's at 8.560.

So if you stayed at 40 000... you lost 78.1% of your money... or more than that. And it's been 22 years since then.

And guess what, it will NEVER EVER go back to 39 000. EVER. It took one year from 39k to 20k. Then the second year, from 20k to 15k.

I don't think you understand that the US, and the world, is on path to Japan, but worse.

reply to post by Julie Washington


I have what I'm pretty sure is an ignorant question (I'm not being mean to myself, I'm just truly sincere) When you say retirement accounts, do you mean private ones that individuals had built up, or do you mean Social Security such as my parent lives on? Thanks.

reply to post by Julie Washington


While that may be truth, my husband and I have investments and my husband receive retirement check monthly from the government.

Regardless of been already depleted at least we still have a balance sheet and a monthly deposit that show we still have it.

Unless the company my husband works for now (one of the biggest defense contractor in the nation ) goes bankrupt or the government default we should not worry right now, right?

==

Originally posted by simone50m
reply to post by Julie Washington

 

I have what I'm pretty sure is an ignorant question (I'm not being mean to myself, I'm just truly sincere) When you say retirement accounts, do you mean private ones that individuals had built up, or do you mean Social Security such as my parent lives on? Thanks.

edit on 22-9-2011 by simone50m because: x

I'm gonna go out on a limb here and say that both SS and private accounts will be looted and/or worthless

reply to post by JJDoggie84


I don't know about the pensions, but the SS was looted back during the Regan administration and got worst with the presidents after him with the culmination of the worst looting under Bush Jr, remember how bad he wanted to sell the so call privatization guess who was the country looking to "invest" on that privatization China.

The governments under Reagan, Bush, Clinton, and enormously under the recent Bush stole your money.

The only reason our SS is under trouble is not because those that have been misusing the "Benefits" is because it was stolen by our own government to pay for crap and wars.

The government wants you to fight for the wrong things of why our economy and our deficit is so screw up but it is them, their policies their spending and their willingness to cater to big interest the culprit

www.populistdaily.com...

Our Own Government is the one killing this nation, the working class and the tax payer.

Originally posted by Shenon
There are Theory´s why Gold (and to a certain extend other PM´s) are dropping this fast. One is that Investors are fleeing Banks ,forcing those to sell their Gold to raise Capital (which works in the short Term).

There are others,but this seems the most plausible. If i had the Money,i would buy Gold and Silver now,because i´m pretty sure that as soon as Banks are out of Capital (and out of Gold),they will crash and Gold will rise stronger and faster then before...

You have to take into Account that the latest Move by the Fed could very well have been only the first Step to force another round of QE. Before Markets crash completely,the FED may as well switch on the Printing Presses,this time in Hyperspeed. But i somehow doubt they are intelligent enough to create such a Scenario...who knows

Edit: And as Vitch said above. Other than selling Gold,Banks don´t have any Options left in how to raise Capital,because Bernanke killed that with the Twist yesterday...

Don´t take this Post as any sort of Trading Advice.

edit on 22-9-2011 by Shenon because: (no reason given)

This is exactly what happened to gold and silver... It will skyrocket soon

Watching the DJI and currently it is at 10717.63 which is down 407.21 . The market has been hovering all morning at the 10700 mark. In a normal trading day there is a lunch bump. So lets see if today is any different. We will probley see a small rally at the end of the day due to investors waiting to see if it goes any lower. I guess we'll know alittle more once the final bell tolls.

Actually it seems that while the markets fall the dollars flourishes over the Euro funny that our dollar ups also means lower oil prices.

That should be something good, but not so for the markets profiteers.

And then we most ask if monetary manipulation in the US is as bad as in China.