Stock Market collapse: Prepare For The Bear

[XcOM]

even so this would still of happened, we have become a world used to living on credit, and now this credit has run out, and banks are afraid to lend to one and other, everyone is running out of money, but its still there somewhere (The executives paychecks?)

ALOT of companies are going to fold, and meny banks will become bankrupt or be bought out by bigger banks, until people start lending again we won't go back to how we were, and i think the best thing would be for this to continue (Please don't stone me) and everyone to pay off what they owe, and don't live on credit anymore,

I myself have done this for a long time, i bought a car on credit, my insurance for said car is monthly paid so that is classed as credit, when i was out of work last year i used my overdraft to pay my bills and i have been trying to pay it off since, now stangly i am in a position to start doing that, i will hopefuly pay off over £200 ($400) this month, the same next month providing i can get some overtime in at work, then it will be paid off with some left over to pay a lump sum off of something, the month after that i can pay off the laptop completly (of i forgot to mention i got my laptop on credit)

then its just the car and insurance i have to worry about.

[Omega]

I am actually enthused, as a republican, that the bail-out didn't pass. It's being fiscally irresponsible to put MORE stress on the tax-payers (who will already feel the effects of the depression the worst, as we can tell by looking at history) and trying to bail out companies that, ultimately, brought this upon themselves. If you make a bad decision and end up losing everything over it, it's your fault because it was avoidable, and I don't believe anybody should help you out. Same sort of thing here. Some people (corporations, banks, etc) made poor decisions and are, as a result, dealing with the repercussions.

While I hope we don't go in to a depression, perhaps it will teach some people a thing or two about responsibility.

[XcOM]

it sounds stupid but the world needs a depression every now and again to reset the balance in the world, this time how ever the goverments are trying to prevent it and there is nothing they can do about it, but they seem deturmened to give it there all, even if it does mean we will be screwed for a next billion years paying it off.

[Crazy Buddhist]

If it hits where I think its going this week (Dow Jones at around 10,000 - probably just above)

Dow Jones Industrial 10,365 down 777 on the day. Ouch. Watch it dump below 10K next week or the week after.

It means they will amend it again and put it through again. Most people think it's a bad idea, especially the democrats. I tend to agree. The bailout can't help at the rate it's deteriorating as is and the money will go up in smoke within weeks, and they will STILL go under.

Exactly. This money goes straight from Joe Average taxpayer to Joe not so average millionaire via the banks and gets sucked out of the system in no time.

[XcOM]

what is the likelyhood of the marks collapsing in on them selfs? i know its far from going to happen anytime soon, but if this keeps loosing value like this it going to hot rock bottom prity soon

[Crazy Buddhist]

I think there is another 2,000+ points to fall from the Dow Jones this year - that would makes it half the Index it used to be. The markets per se won't collapse. Money may just grind to a halt - a bit like gridlock on a city's streets.

[XcOM]

fair enough mate, i always trust what you say as your wiser then me in meny ways, esspecaly when it comes to understanding the markets.

My bro is still adermant were not in a recession and all will be well by Xmas back to the way it was

[nevermind1534]

My bro is still adermant were not in a recession and all will be well by Xmas back to the way it was

lol. Everybody keeps buying all of their Chinese-made s***, making the executives rich, although, at this point, most people don't have much choice, as that's all that you can really get. There's also people buying too much stuff that they can't afford, and there were too many people buying houses that they couldn't afford.

[Eclecticos]

I am surprised our President has not addressed the
Nation urging American consumers to buy, As he has done before.

[nevermind1534]

I don't like how he lets the VP and his advisers run everything as much as they do. It seems as though he is afraid to, and figures that they are "experts" although, as most of us can see, this hasn't worked out too well.