Big day ahead!! dow futures will open down 535 points today!!

Originally posted by fleabit
I think some folks live for this. They don't despair when markets come crashing down, they have a party here instead. They love the gloom and doom. How bizarre.

Sadly, this is actually the overwhelming majority of this board. They are literally looking for any opportunity to get excited about economic doom, even if they have to make it up.

I think part of it comes from the fact that ATS has predicted the Great Depression every year since the board existed, and so many people went out and hoarded supplies in a panic, now they want it to happen so they can get the satisfaction of "we told you so!" That is, after all, the allure of economic conspiracy - the perverse satisfaction that the end is nigh and you know about it before everyone else.

Sadly, they won't get their wish fulfilled...this time, at least. There will be future recessions, and if the board is still around we will go through the same unneeded panic and hysteria, and it will be the same people telling us the end is nigh that are doing it this time around.

reply to post by kimthepianist


Many thanks for your tips Kim, some great idea's there and I will certainly take those on board!

Originally posted by Nonchalant
What I dont understand about all this is how the US dollar continues to increase in value against all other currencies when it is the collapse of the US financial system that caused this mess in the first place???

This is what I am having trouble with too. It doesn't make sense! Basically (from what I understand) people are buying $'s, thus driving the currency up. Does this have anything to do with the fact oil can only be bought in $'s? Or shipping?

If the credit crunch has hit this badly then perhaps they are having to settle bills in full rather than placing the trades on credit. Hence the need for $'s.

But that is only my guess. Perhaps someone here more learned could say the reason why??

So today is not looking so hot. Maybee another down day.

I just saw a strange chart.

This is a line chart of SIVLER. It shows the last 48 hours of trading. (Last friday, today)

It is almost identical to last Friday before the market opened. When we maxed out, Take a gander.

Also dow down about -210, Asian markets got killed, and European stocks are down about 6% and are falling a bit more at this moment to the lows of the session.




[edit on 27-10-2008 by ghostlandseller]