Stock Market Crash

xtrmgam3r360 · Post by **xtrmgam3r360** » Mon Sep 29, 2008 5:03 pm

The DOW dropped 777 points today, the largest over night stock market drop in history, even worse than the great depression.(according to my teachers, so its probably not true)

Just making sure everyone knows.

Jongamer · Post by **Jongamer** » Mon Sep 29, 2008 5:16 pm

lol 777

Maybe something good will arise from this

Metallica Man X · Post by **Metallica Man X** » Mon Sep 29, 2008 5:38 pm

777...that's a cool Danzig song right there, lol.

But wow, that was certainly quite a dip there. Wasn't even aware of it until this very moment.

Worse than the depression crash?

I doubt it. As the average level for the stock market back in 1929 was way lower than it is today. A dip of 777 now vs a dip of 777 back then is WAY different.

The dip may be worse than what it was back then, but when you look at the overall numbers, it's not nearly as feirce as it would've been to the numbers back then.

HotDog-Cart · Post by **HotDog-Cart** » Mon Sep 29, 2008 5:54 pm

Why would they deny the bill? Is the goverment TRYING to go bankrupt on purpose?

vskid · Post by **vskid** » Mon Sep 29, 2008 6:04 pm

HotDog-Cart wrote:Why would they deny the bill? Is the goverment TRYING to go bankrupt on purpose?

Ya, really. Either they cost the tax payers $700 billion, or they flush the economy down the toilet. I don't see why they care about increasing the national debt, its not like we'll ever pay it off, anyway.
I say we need another world war or something similar to unite the country and turn it into a machine (like what WWII did for the Great Depression). Maybe we could focus on space exploration. I've never seen a movie in which we've been ready for an alien attack/attack the aliens on their own turf. We should make an unstoppable, intergalactic fighting force and take the fight to them!

Rekarp · Post by **Rekarp** » Mon Sep 29, 2008 6:06 pm

vskid wrote:
HotDog-Cart wrote:Why would they deny the bill? Is the goverment TRYING to go bankrupt on purpose?
Ya, really. Either they cost the tax payers $700 billion, or they flush the economy down the toilet. I don't see why they care about increasing the national debt, its not like we'll ever pay it off, anyway.
I say we need another world war or something similar to unite the country and turn it into a machine (like what WWII did for the Great Depression). Maybe we could focus on space exploration. I've never seen a movie in which we've been ready for an alien attack/attack the aliens on their own turf. We should make an unstoppable, intergalactic fighting force and take the fight to them!

we need a zombie attack to thin the numbers.

Kurt_ · Post by **Kurt_** » Mon Sep 29, 2008 6:10 pm

Seconded, although then Canada would be infected too and we'd all have to move really far north so the zombies would freeze.

gamecube6 · Post by **gamecube6** » Mon Sep 29, 2008 6:25 pm

Seriously though, Who didn't see this coming?

Post by **bicostp** » Mon Sep 29, 2008 6:26 pm

I've read a couple things about the 700 billion being for the government, not Wall Street. Those sources claim the government ran over its budget and will be out of money tomorrow. (They may have picked up secret AP news stories on their tinfoil hats, but it's believable. It's not like an 'Elvis marries Sasquatch' story.) The 700 billion would tide us over to the end of the fiscal year.

What gets me is that if we stuck with the economic plan laid out by Bill Clinton, we could have had a balanced budget by now. (No national debt.)

When did we go from an economy based on earning to an economy based on how much you can borrow? When did it become possible for someone who makes $20k a year buy a $765,000 house, then borrow that money again, then refinance to lower payments and a longer term?! (It would take about the term of a traditional 30 year mortgage to buy that house, if 100% of that individual's gross income went to the mortgage, not counting taxes and interest.)

What the hell, America?

gamecube6 · Post by **gamecube6** » Mon Sep 29, 2008 6:28 pm

bicostp wrote: What the hell, America?

This just may be the most epic thing ever posted.

xtrmgam3r360 · Post by **xtrmgam3r360** » Mon Sep 29, 2008 6:36 pm

gamecube6 wrote:
bicostp wrote: What the hell, America?

This just may be the most epic thing ever posted.

QFT

SonyPortableizer · Post by **SonyPortableizer** » Mon Sep 29, 2008 6:43 pm

Your teacher was right
But I just boought 1000 dollars worth of stock today

Good for me, made me happy-But I am upset in our Government, and that my parents lost lots of cash

I always say, Use a bank
But since its so low I cant loose
EDIT: Yes Rekarp Zombie attack would be awesome, not the fast running kind thought thatd suck big time, I always think of what to if one happened(Some people have movies, anime, or other weird stuff, well I have zombies as my obsession)

Also, its just the general way the wave is. But the war for many years is what caused it, our longest.
Fast war=boom
Long war=Bust

grossaffe · Post by **grossaffe** » Mon Sep 29, 2008 6:49 pm

I'm not sure the bailout is the best option. some have argued that it will only delay the effects of the bubble burst which will only make it fiercer when it does hit. I'm more trustful of the market adjusting itself than I am of the politicians and businessmen who created this situation to begin with.

Harshboy · Post by **Harshboy** » Mon Sep 29, 2008 7:04 pm

Our Government really sucks, there needs to be change...

Aw dammit, now sound like freaking Obama.

Rekarp · Post by **Rekarp** » Mon Sep 29, 2008 7:10 pm

Harshboy wrote:Our Government really sucks, there needs to be change...

Aw dammit, now sound like freaking Obama.

NO SOCIALISM!!! GO RON PAUL!!