Kiss your 401k goodbye, your job too.

[Lashlarue]

The final phase of the total collapse of the US economy and probably the world economy began two hours ago. No rhyme or reason, I guess the Obama money machine broke.Even with fed money available at 0 %, the markets are collapsing....

[mmeans]

Just a hiccup I'm sure, at least that's what they want us to believe.


Michael Means

[Daywalker]

Whats the worse that could happen?? .....oh yeah Zombies

[mmeans]

Zombies, charging with plastic!


Michael Means

[r.barn]

http://www.youtube.com/watch?v=cQyFx...layer_embedded

[Lashlarue]

Apparently one faulty trade on P&G triggered a series of programmed trading that saw the Dow freefall 998 points in 5 minutes, at least thats the BS they're trying to sell us!

[Mike_302]

There was confusion over what caused computerized market systems to go haywire. CNBC's Scott Wapner suggested the problem was in the Nasdaq market system and was caused when a trader at a major firm typed in "b" instead of "m" on a financial derivatives trade.

I'm not about to buy into the whole sky is falling hysteria, but it's almost as scary to actually BELIEVE their version that it's this simple to cause a problem like this with a typo?

I mean seriously, who would believe this ####?

[mmeans]

Kind of puts that whole throttle by wire thing into perspective eh?


Michael Means

[Lashlarue]

This whole derivitive trading scam is just that. Iy is said the 100x the gnp of the entire world is invested in these instruments.Talk about a house of cards, ready to tumble, if Obama gets a cold or gets shot, whatever!

[adam699]

Bottom line is. We've been robbed. That's all. Worse thing is, we're still being robbed. Problem is we will find out about it when it's too late. First the stock market in the 90's .

Than when we're led to believe that there is terrorists after us and focusing on useless wars overseas. We're spending money on outside "contractors" servicing the military at a ridiculous cost. At the same time a "machine" is created to propel the stock market and housing market is set up to fail. Yes as soon as BCD lending was initiated we were led to believe that it's the golden age, and we were slowly convinced that it's the time to spend. At the same time, any manufacturing in the USA has been outsourced out of the country (again money out of american pockets into others)...and when it all failed, guess who made the money? Again the top cheeze ceo's who started the scheme and right up front bet against it on our own market. Now again, we're led to believe that bailouts are needed, so we're getting milked again for whatever is left in taxation increasing our deficit, and guess what? At every real estate forclosure auction, there are bank reps, authorized to but those forclosed homes for up to the price af the debt that was owed to them in the first place. So what happens?, noone bids as they know that the market is "low" and the same banks that failed are picking up those properties for $100 a pop. Why? Because it's a loophole and that way they get to avoid being taxed on buying those properties at fair value. Local governments get cheated out of taxes and transfer stamps in the process too.

This system is failed and we all need to wake up and brace ourselves for a hard impact as it will happen it's just a question on when. Europe used to be all cash for the longest time, and than they tried to follow in our footsteps with the EU and the euro and look where it got them? They've been set up too.

[rbohm]

just wait until the commercial real estate market starts to collapse. if you think things are bad now, they will get far worse, and the collapse doesnt necessarily have to start in this country. likely it will start in europe somewhere.

[BLK-Merc-MM]

Originally Posted by rbohm

just wait until the commercial real estate market starts to collapse. if you think things are bad now, they will get far worse, and the collapse doesnt necessarily have to start in this country. likely it will start in europe somewhere.

I hear Greece is Like California, and a money pit.

I hear going Greek, is like being from San Fransisco.

Time to make cut backs on all Government jobs and spending. Start at the top.

[adam699]

Comercial market in the US is dead. Try to get a commercial loan somewhere. Good luck.

[Mike_302]

Originally Posted by adam699

Comercial market in the US is dead. Try to get a commercial loan somewhere. Good luck.

I have a friend who has opened 3 restaurants in the last 2 years.. He isn't having any trouble at all getting commercial financing.. Now dealign with the city beaurocrats to get permits, thats another story entirely..

[Lashlarue]

Market is down almost 200 points today, makes the last week almost 1000 points.On the plus side crude oil has dropped nearly $10 in the same week.wonder what's going to happen when Obama requests that all of us take a 25% pay cut for the good of the country. HIS COUNTRY! Of course the unions will be exempt from this new directive, just as Fannie and Freddie are exempt from the new banking regulations..

[mmeans]

Yea, 25% pay cut and 50% more taxes, it's the DNC way...


Michael Means

[Lashlarue]

The latest scuttlebutt is that they have been unable to track down the faulty trade that set this in motion yeasterday and it may have been a test on manipulating the stock market.this will cause even the most hardened trader to take his money and run.Say goodbye Wallstreet, Main street too!

[Mike_302]

Originally Posted by Lashlarue

The latest scuttlebutt is that they have been unable to track down the faulty trade that set this in motion yeasterday and it may have been a test on manipulating the stock market.this will cause even the most hardened trader to take his money and run.Say goodbye Wallstreet, Main street too!

Why? Because someone possibly tested something that failed and was caught within minutes, and that the response was to reverse all trades during this time negating any gains anyone could have possibly made by doing so?

I mean really, I must be missing something here.. It it 'was' a test it almost certainly failed miserably.

[dba-murder]

When I worked at a financial company about 10 years ago I was surprised to learn that the NASDAQ didn't have a test system, only test symbols.

[Lashlarue]

Does anyone know how many of our tax dollars are going to prop up Greece? I do, only 39 billion will be paid to the IMF, our share of the bailout.Greece is just the first of the dominoes that will fall. Spain, Portugal , Ireland and the Uk are all sitting on that bubble with more debt that they can't pay.

[5.8LiterImportEater]

What are we paying with? The government does not have any money, we are broke too.

Ohhh, I know we are just going to print more. Then sell it to the Chinese, who in turn is going to own more of the US than the US does.

This admin is among the most financially irresponsible in history. But the white washers will see to it that the first black liberal president is seen as a great man. He never sees anything coming, and cannot manage to do anything other than say, "We need to deal with it now." But only offer more debt and more spending.

This may be the puppet that the progressives need to destroy this country. He is the only person who I believe will be worse than Bush. Hell, I would take another 4 years of Bush just to be rid of this guy. McCain would have been worse. He would have done the same things but the right would have never solidified and became more conservative.

Chris

[Mike53]

Originally Posted by 5.8LiterImportEater

McCain would have been worse.

I honestly don't think that's possible. McCain may be a moderate but he's not wanking it to the Communist Manifesto.

[Steves 94 5oh]

Lash, there is a padded room somewhere with your name on the door.

[Mike_302]

Originally Posted by Steves 94 5oh

Lash, there is a padded room somewhere with your name on the door.

You know all of this has only reinforced my belief that lash is the last guy I want tracking me down if I ever steal something.. I've got this hilarious image of Steve Buscemi's character in Billy Madison.

[rbohm]

Originally Posted by 5.8LiterImportEater

This admin is among the most financially irresponsible in history. But the white washers will see to it that the first black liberal president is seen as a great man. He never sees anything coming, and cannot manage to do anything other than say, "We need to deal with it now." But only offer more debt and more spending.

Chris

he can also blame bush.

[Mike_302]

Originally Posted by rbohm

he can also blame bush.

But for how long? That #### is already wearing thin, someone who cannot eventually be responsible for the mess they have had no business accepting the presidency in the first place.

[exoskeleton]

Holy ####! Is the sky falling again?

[ltdrifter]

Originally Posted by exoskeleton

Holy ####! Is the sky falling again?

Yes, it really is but it's not "again", it's "still". We just haven't seen the crash yet. That little hiccup was just a hint of things to come. I think we're seeing a repeat of the last few years of the Clinton administration where they did thier damndest to prop the numbers and cook the books to keep things looking good, only this time they aren't covering up a mild recession but a full blown depression.

I am not saying that Obama is Slick Willy II as there is no way he could fill Willy's shoes. He lacks the native charm, the intellect and the charisma to be anything close to Bill Clinton. This also makes it a lot harder for his handlers to cover for him.

[Lashlarue]

To those who thought the blip in the market, didn't cost much. Everyone one of those trades made as the market freefell 998 points, cost one party to the trade dearly.They are trying to make you believe only the big guys suffered.I'm not a big guy but I know my way around the stock market. Most informed traders put permanent stop-loss orders on whatever they hold in their portfolios. Consider it insurance to eliminate being wiped out in the event of a crash.Lots of little guys like myself sold their holdings during that short lived crash. Especially the holders of blue chip stocks. I lost only the amount my investments actually fell in the past week, I neither bought or sold. I learned long ago to invest in NYSE small cap stocks as they tend to mimic the market at a much slower pace.My portfolio contains no stocks that would be in an institutional investors portfolio.which seem to be subject to rather violent ups and downs.

[exoskeleton]

Originally Posted by ltdrifter

only this time they aren't covering up a mild recession but a full blown depression.

And in your highly knowledgeable opinion, when did this recession/depression begin?

[5.8LiterImportEater]

The day before tomorrow.

Chris

[rbohm]

Originally Posted by exoskeleton

And in your highly knowledgeable opinion, when did this recession/depression begin?

it may have started in 2007, but so far every move that this administration has made has only made things worse.

[2stangcoupes]

huh our stock at work is thru the roof!

[BLK-Merc-MM]

My stock in China is doing great...

[Lashlarue]

The implosion of Clinton's dot.com bubble has never recovered.The Nasdaq peaked at over 5000 before the dot.com crash, it has never recovered.