Jesus what was that?

[Fast_Eddie]

I just about had a heart attack. The market was down 1000 points. Minutes later it's "only" down 380 and coming back fast. What the hell?

I'm freaking. I sat pat through the whole disaster over the last couple of years and have been nervous for a couple of days. Ug, down 418 now. I'm dyin' over here.

[merrylander]

Wall Street with a chicken little attack is all.

[Fast_Eddie]

It's more than that I think Rob. How does the Dow go down nearly 1000 pts. in like, what, 30 seconds?

[Boreas]

How did the Asian & European exchanges do today?

I think this Greek thing has people scared shitless.

John

[Fast_Eddie]

It's not just Greece. Much of Europe is a total mess. I'm just trying to figure out if this is about to get ugly.

[merrylander]

And we are also a total mess, so is the whole world in the toilet? Somehow I smell GS playing silly buggers again, along with a bunch of other traders.

[Boreas]

And we are also a total mess, so is the whole world in the toilet? Somehow I smell GS playing silly buggers again, along with a bunch of other traders.

http://online.wsj.com/article/BT-CO-20100506-716438.html?mod=WSJ_World_MIDDLEHeadlinesEurope

John

[Boreas]

It's not just Greece. Much of Europe is a total mess. I'm just trying to figure out if this is about to get ugly.

Especially Ireland, Iceland, Portugal and Spain (in addition to Greece).

John

[Fast_Eddie]

They're calling it the PIIGS. And they're starting to stink.

[Boreas]

They're calling it the PIIGS. And they're starting to stink.

Yup! And it's not about to get ugly. It is ugly and about to get uglier.

John

[d-ray657]

It's more than that I think Rob. How does the Dow go down nearly 1000 pts. in like, what, 30 seconds?

How many of the companies trading on the stock exchange are multinationals. This is part of the problem with corporations growing large enough to have their tentacles everywhere.

Regards,

D-Ray

[Fast_Eddie]

I'm not sure it's a mulit-national company problem so much as a debt pressure problem. It all comes back to the banks, I guess.

[Charles]

Everyone's broke and still borrowing money. There WILL be a day of reckoning.

Chas

[BlueStreak]

As I passed by the Orwellian Telescreen on my way out of the plant tonight, I heard one of the FauxNews talking heads saying it was as simple as a misplaced keystroke.
Reeks of bullshit, but ...who knows?

Dave

[BlueStreak]

Everyone's broke and still borrowing money. There WILL be a day of reckoning.

Chas

Hey, Man can I get five bucks from ya? I'll pay ya back as soon as I find a job.:rolleyes:

Dave

[Combwork]

Apparently in the U.K. we've just had a general election. I must have fallen asleep; did anything happen?

[Grumpy]

Wish I had the money to throw at it when it bottomed out. Wait then id be as bad as them, but hey, then I may have been able to pay one of these astronomical med bills that are piling up round here..

[d-ray657]

Wish I had the money to throw at it when it bottomed out. Wait then id be as bad as them, but hey, then I may have been able to pay one of these astronomical med bills that are piling up round here..

That's another example of them that's got shall get, them that's not shall lose. When the housing bubble first burst, I was thinking of the advantage all of those people with available capital would have in being able to buy some cheap real estate.

Speaking of them that's got - I alway's thought it was sadly ironic that medical providers charge lower fees to those with insurance than they do to those without it. I understand how it happens, but it seem kinda bass-akwards.

Regards,

D-Ray

[merrylander]

It's more than that I think Rob. How does the Dow go down nearly 1000 pts. in like, what, 30 seconds?

Because somewhere there was an electronic screwup. Proctor & Gamble dropped about 30 and Accenture dropped to 0 in the space of seconds, had to be electronics as no trading would go that fast. Then all theose 'masters of the Universe' shit temselves and paniced. Of course the cover story (CYA) today will be different.:rolleyes:

[merrylander]

The ironic part is that it was the European economists who declared that our profligate borrowing, etc. would cause us to fail. However is seems that in spite of John Bonehead's declarations the stimulus plan is working.

[Fast_Eddie]

When my parents were my age they could go buy a Cirtificate of Deposit with a guaranteed 10% return. They were making money on their house and had safe pension plans. My mom is living off that pension now. She did well on the house we lived in all those years and managed to put a few dollars away and is doing pretty well by any measure even though she never made a huge salary.

I've been putting all the money the law will allow into a 401k since I was 28. Bought a home and other than that cary no debt. I have no pension and will have to pay my own health insurance if I ever get to a point I can retire. I've tried to do all the right things and I make a pretty good living. Yet my house is worth about what I paid for it seven years ago. Flat is the new up. My 401k is worth little more than I've paid into it and dreams of early retirement in my mid 50s seem nonsensical at this point. Something has gotten out of whack. There is nowhere to put any money that you have any chance of hanging onto anything let alone make a little extra. Starting to think I should have bought some kind of expensive car instead of saving all that money. At least I could enjoy that.

I'm frightened and a little depressed. And I say that fully recognizing that I'm one of the lucky ones. What is going to happen when all of us in our early 40s get to our mid 60s? I can't see how anyone will be able to retire.

[JJIII]

Expire is the new retire! :eek:

[BlueStreak]

Expire is the new retire! :eek:

That's the Republican plan.

Dave

[BlueStreak]

When my parents were my age they could go buy a Cirtificate of Deposit with a guaranteed 10% return. They were making money on their house and had safe pension plans. My mom is living off that pension now. She did well on the house we lived in all those years and managed to put a few dollars away and is doing pretty well by any measure even though she never made a huge salary.

I've been putting all the money the law will allow into a 401k since I was 28. Bought a home and other than that cary no debt. I have no pension and will have to pay my own health insurance if I ever get to a point I can retire. I've tried to do all the right things and I make a pretty good living. Yet my house is worth about what I paid for it seven years ago. Flat is the new up. My 401k is worth little more than I've paid into it and dreams of early retirement in my mid 50s seem nonsensical at this point. Something has gotten out of whack. There is nowhere to put any money that you have any chance of hanging onto anything let alone make a little extra. Starting to think I should have bought some kind of expensive car instead of saving all that money. At least I could enjoy that.

I'm frightened and a little depressed. And I say that fully recognizing that I'm one of the lucky ones. What is going to happen when all of us in our early 40s get to our mid 60s? I can't see how anyone will be able to retire.

My parents too. And the conditions you described for yourself fit me, and most of us here to be sure. Once they got past the Depression and WW2, my parents had a great life, that served them well all the way to the grave.

You see, at some point, Ed, people of a certain political persuasion decided that anyone drawing a check that isn't actively working, including your and my parents, is a parasite. Deadweight. And that things like gauranteed pensions and so-on has to go so we can force people to work longer, and thus be less of a burden on them (And the rich folks who pay and have paid Reagan, Gingrich, Palin, Beck and Limbaugh et. al., to talk them into giving everything up.). But these people are so short-sighted they don't see that this WILL BE THEM ONE DAY. They think their 401ks will be enough. (Hows that working out?) Or they think their fat, lazy kids are going to take care of them. (I hope they're right.) Or that they will work until they die. (Good luck with that.)

But, hey. At least we might be able to proudly display a Nativity Scene, and we'll be free to carry a gun---Which will come in handy--until you're too old and blind to shoot the rat you were hoping to have for dinner.:rolleyes:

Regards,
Dave

[merrylander]

I was worried about havin to sell out and move to somwhere with lower costs and losing all the blood, sweat and tears we have put into this place. I was pleasantly surprised at how expenses decreased once I had no commute, work dress, etc. We are certainly not the Rockefellers but manage pretty well. Not having all the stress of work certainly makes for a happier life.

At the moment I am trying to figure out who is telling the truth. Last night the Nightly Business Report with Susie G. had the $CDN at $1.05 US, this AM the WashPost had it at $0.9795 US. Now one of them is full of it and I suspect the Post as the last time I exchanged we got $1.0095 US. Canadian mortgage laws do not permit things like derivatives so there were no bank bailouts needed, and by and large their economy is not in peril, if anything it is better off than here. Given that I like Susie's figures better , andthere is nothing wrong with her figure either.:D