RF Generation Message Board

Recession requires 2 successive quarters of GDP shrinkage? Forget that. This baby is going to last for a long time, and over time the word recession becomes depression. Welcome to 2008, hope you enjoy the ride. The stock market just exited it's 500 point drop, will it go up tomorrow? Let's hope so.

Stocks Get Pummelled (http://money.cnn.com/2008/09/15/markets/markets_newyork2/index.htm?cnn=yes) [CNN]

No chance in hell will it go up enough to balance out what a 500 point drop does. Huzzah? I think not....  :evilsad: :grrr:

The economics are going downhill pretty much everywhere around the world and they don't look like changing for the better any time soon...

Belgium had the biggest inflation in 30 years this year.

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOM

Day 1 Candy Bar cost: $0.99

Day 15: $1.29

Day 32: $1.49

Day 65: $8.99 WTF?!

:laugh:

Don't worry... the Messiah will "change" everything for us. :vomit:

And who might that be?

Reggie Fils-Aime

:)

http://www.rfgeneration.com/forum/index.php?topic=6610.msg110336#msg110336

Oh, lol. I didn't notice the hint in the word "change". Now I get it :P

Well the markets did okay today, I guess. Dow up over 140 points, and the Nasdaq up almost 1.5%. Meh, whatever. If AIG goes under, then we are all screwed, financially.

I don't understand that much about the stock market. I really should get into it some more to really know what people are talking about. And what happened with the Lehman Brothers just recently ???

Oh gawd... How to explain, how to explain... I really can't... I only understand what is going on because my grandpa has taught me about stocks and such. In a nutshell, the Lehmam Brothers filed for bankruptcy. And that is really bad for the economy (I guess). So the investors had a 'panic', and stocks plummet. That is what happened on Black Thursday (24 OCT 1929), or the start of the Depression, but on a much grander scale.

Oh, I know about the Black Thursday, learned it in History last year :) 16 million shares were sold on that day or something.
Didn't know the Lehman case was the same type of thing...hopefully the economics will not drop below subzero.

The thing that I hate about economics is that once something bad happens the whole economic world starts to scream "OMG it's a recession!!! Run for the hills!!!" (:P) When the average Joe hears that he'll take it seriously and will spend less, causing the economics to plumit more than if everyone would've just shut up about it.

Or that's what I think anyway ;)

What, they got an even cheaper Famiclone coming out that we can all afford?   ;D

The way it was explained to me is kind of like someone borrowing 120% of their homes value with a sub prime loan, then the housing market drops out and they're screwed. So my house is $100K and I borrow $120K then the house is only valued at $70K due to the drop. Well, I think that's the way they said it.

The largest stock holder lost $450 million.

I thought they went out of business?

Ouch! Must've been a painful day for him/her/them :P

Hey, times are tough for a lot of people.

Take me. I didn't get that raise I was pining for. But I didn't get laid off either, thankfully.

It was one guy.

I'm just glad I live in a place where the economy is picking up. My province had a mini depression/recession in the '80s, but now we've got oil. Hooray!

WHOOO DOWN 459 POINTS TODAY!

WTF?

Here's what all your bigger socialized governments have given you: a shit covered roller-coaster ride to God knows where. It's not the end of the world yet, but shit needs to turn around. The government needs to sever all ties to business and let the market run its course. Seriously though, I just spent the better part of a week in a crippled city, my outlook on things is a bit dour, but this can't continue--if Obama gets elected I'd suggest taking to the streets and grabbing as much stuff as you can o.0

It'll happen either way. Obama will make the downfall painless and quick. McCain will let us suffer and drink with his buddies, but under McCain, it won't happen until early 2010. Now or Later... that is the question...

I say now, and I also think that Obama will not let it happen for too long, but he will indeed let it happen.

I agree with you. I don't think Mccain realises how bad the economy really is. Things aren't going well, so it's better going for change than to have a president that'll do the same as the current one is doing.

You're damn right he doesn't. Hell, on Monday he said the fundamentals of our economy are strong (http://"http://voices.washingtonpost.com/the-trail/2008/09/15/mccain_fundamentals_of_economy.html"). Really John? REALLY?

Mind explaining yourself? You seem to be making rather broad assumptions for both candidates as well as the economy.


And, although I can't see the context because the link doesn't work and I'm far too lazy to fix it, the fundamentals of the American economy ARE strong. The capitalist system works extremely well when politicians stay the hell away and the market is allowed to run its course. Over the past century more and more government control and influence has seeped into the economy, and now we sit on the brink of what happened to the Soviet Union. Companies need to rise and fall, not strung along and bailed out by an already stretched too far government. As I stated earlier, the most brilliant minds in the country go to Wall Street, and their opinions are being over-ruled by politicians who have no business in business.

I see your point but the past has proven that "pure" capitalism or liberalism (however you want to call it) doesn't work. It's important to have a government that steps in now and then, especially during a crisis. Didn't Roosevelt do the same thing?

But if you like a country where the wealthy stay wealthy (or become more rich) with the rest of the population close to poverty; then in that case, pure capitalism without government interference does work indeed...

But trust me: the US is far away from what happened to the Soviet Union. Let's not over-dramatize things either ;) (I'm not saying the situation shouldn't be taken seriously. It should, but it's not that bad just yet.)

Roosevelt didn't do a God damned thing, it was WWII that brought us out of the depression.

The government should put down regulations, yes, but that is all. The politicians should not be using OUR money to play teeter totter with the economy. That's what WE do as consumers and workers. And hell, if these things must be done at least LISTEN TO THE EXPERTS.

I'll ramble more later, peeps downsstairs.

I'll have to disagree with you on the "Roosevelt didn't do a god damned thing" point.  :)

EDIT: Dow up Four-Hundred and Ten points today.  ???

788 Points! WHOOOOOOOOOO!

All I have to say is 'lolwut?'

:laugh:

Huge hit in the markets today.

Worldwide, I'll add, not just the states.

Logical isn't it, when the $700B Baillout plan didn't make it. The whole commercial world was waiting on that.

Fags. Stupid Fags. And by fags I mean cigarettes. LULZ!

Oh, and the DOW is up 485 points. WTF?

Balls.

BP PLC is down to 464. I had a letter last week asking if I wanted to sell my shares at 510. I've been holding on to them hoping they would get back near their peak of 723 from April 2006. I knew I should have sold them then. A week later they dropped by about 100. 464 is very low.

WOOOO!!

Today's Stats (Courtesy of finance.yahoo.com):

Dow           9,955.50   -369.88   -3.58% (First sub 10k since '04)
Nasdaq   1,862.96   -84.43   -4.34%
S&P 500   1,056.89   -42.34   -3.85%


Pretty Epic Fail day, if I do say so myself...

And some reading to go along with it: http://biz.yahoo.com/ap/081006/wall_street.html

EDIT: Europe markets lost majorly all a crossed the board. The DAX  -7.07%, CAC 40 -9.04%, etc...

Eh. I feel numb to this.

I'm not sure whether to laugh or be sad at that comment...

This week will likely be a rollercoaster. Drop...recover...drop...recover. Maybe by this time next week it will have stabilized.

Yep, it's going downhill, but then recovers a tiny bit during the same day. So luckily, we can't speak of an actual crash just yet.

WHOO 508 POINTS DOWN! Rollercoaster? Perhaps a Giant Slide!

SLIDE WEEE!!!

Down 189 today.  ;D

I don't know why you're all so peppy at this.

This affects everyone.

If you smile and joke about a major crisis it makes it easier to deal with?

This has become a global crisis with no comparison. I saw a guy on CNN today who was in Kenya, where they already felt the crisis because of less people going on a safari. :o

Nowadays, a country has to be extremely isolated with no international connections whatsoever to not feel this crisis. It's really bad. :(

Glad I kept my job at Kroger...

I think I will post this here...

National Debt Clock Too Small
http://www.youtube.com/watch?v=-DJIVQIRIHs

It's UNDER NINE THOUSAAAAAAAAAAAAAAAAAAAND!!!



Also, BP is at it's lowest since January 2003. I'm currently down £1,200 on the highest BP has ever been.  :hmm:

And if you haven't seen this one yet...

AIG Execs Spent 430000 Dollars at a Spa Resort After Bailout
http://www.youtube.com/watch?v=1JRJVlg6X7s

The stock market is truly starting to scare me.

I'm hearing there may be a "bank holiday" in the next few months.

1 dollar is now worth under 100 Yen. 98.805 to be exact.

Today's Stats.

Dow           8,579.19   -678.91   -7.33%
Nasdaq   1,645.12   -95.21   -5.47%
S&P 500   909.92   -75.02   -7.62%

Ironically, today marks the 1 year anniversary or the Dow and S&P hitting all-time record values (14,164.53 and 1,565.15 respectively) on Oct 9, 2007. The Dow and S&P are down (from that 1 year ago mark) 39.4% and 41.9%.

Let us see what the end of this crazy week will bring us tomorrow. Perhaps the largest economic crash? Maybe a 3000 point rebound rally (fat chance... ::) ). Who knows?

I'm concerned about FOREX mainly.

I like international travel, I'm sure at least a few others echo my interests.

Lower dollar [note, I live in NZ], bad for me.

It's now at where it was five years ago. I wouldn't kill yourself yet.

Since today's Friday, I'm guessing we'll see some a lot of dropping during the day, but will rally at the end to end to finish less than 100 points down.

Anyone else have predictions for today?

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOM!

Bush spoke to the nation so all will be well at the end of the day.  ::)

Wow, you were spot on.

Pretty close. 8)

But don't ask me what's going to happen on Monday... ???

Not a bad guess man! Not bad at all!

Today's stats:

Dow      8,451.19   -128.00   -1.49%
Nasdaq   1,649.51   +4.39   +0.27%
S&P 500   899.22   -10.70   -1.18%

Not too bad, but it does end the worst trading week ever.

I just got ninja'd...

:laugh:

:ninja:

The Nikkei took another serious beating again today. Oh, and Iceland is almost bankrupt. That's right, a whole country. :o There's even an Iceland bank that blocked the savings of customers indefinitely.

Eh, bankruptcy is an interesting term. As states must have a balanced budget in the US, many states are massively cutting budgets, doing things such as temporary layoffs for their workers, which may or may not affect me. We shall see.

Government interference will only make things worse we need this market correction and will just have to make it through it. I'm in college right now and the plan was not to have to work but I am getting a job now to ensure I am in a good financial standing, for now and the forseeable future I'm ok. I have debt but nothing I can't handle with my side jobs and my new constant employment (its a pretty safe job downturn or not) things aren't to bad yet but I fear they will get worse.

Iceland has had a shitty economy for as long as I remember. All those socialist Northern European states are being run into the ground.

This will turn around, the money will go back in. If you have the capital, and are smart, you would be buying right now.

That is true, but it's risky aswell. Belgians who bought stocks of Fortis when they were at €15 thought that was the oppotunity of a lifetime. Now, 4 months later, Fortis has been bought by BNP Parisbas and the stocks are worthless.

So simply buying random stocks just because they're low doesn't guarantee huge profits either.

Dow           9,387.61   +936.42   +11.08%
Nasdaq   1,844.25   +194.74   +11.81%
S&P 500   1,003.35   +104.13   +11.58%

???


XD

Largest point gain ever for the Dow, and the second largest % gain. WTF? I told my dad we should have bought ton of MS stock last week. It shot up 8 bucks today. :P

What else are people going to do with their money?

Buy games of course!

People won't be able to afford boats and expensive vacations, but a 200-300 console and a couple games is cheap enough to keep people happy from their own homes.

No, seriously.  I read an article on it in the Wall Street Journal last Friday.  It partially explains the current gaming industry boom.  Don't believe me?  Look at the Japanese recession through the 80s and the subsequent fixation with karaoke.

Well, I just bought a car.
It's lost less value than the stock market over the past 2 weeks.
That counts as an investment, right?
:-)

Interesting theory, it does make sense when you think about it. People won't buy all the expensive stuff anymore but will spend more on the cheaper things in life.

Dow      8,577.91   -733.08   -7.87%
Nasdaq   1,628.33   -150.68   -8.47%
S&P 500   907.84   -90.17   -9.03%

What is with the market?! ???

It's throwing up?

Some people just made a lot of money.

It was - 733, not + 733.

Doesn't really matter, you can make money on stocks going down aswell.

Probably those fuckin CEOs.

O.O

Crazy ass 2 day point losses in the markets, presumably because of Obama... ???

Presumably?  ::)

Investors are probably running scared because he's going to tax them more if they have a higher income...which is the way it should be.

Come on dude. Read some fucking economics. The wealthy make the world go round, if you take their money they do exactly what you just said, they run or hide their money--either that or they produce less...what the oil companies will do if Obama's God awful economic policies go into effect.

It was a joke. :)

Yeah economy is very bad lol

You can't joke around with Leon. No sir. ;)

It sure didn't look like a joke. ;)

Hmmm, guess you're right. A smiley would've been nice. ;)

LULZCANNONCOPTERROFLLMAO

I don't want to set the world on fire.
I just want to set
A flame in your heart.

Bongo Bongo Bongo I don't wanna leave the Congo....

Plus alot today... WTF?

The markets are so unstable. It's insane.

It shouldn't average anywhere but down for awhile...

But we'll see.

Well, this sucks, since the economy is in the tiolet, there is no developing going on, so there is no work for the company I work for, so they're laying people off, I think they've laid off 1/3 of their employees in the last 4 months. So, I'm probably going to get my hours cut back. And it doesn't look like we're having the super awesome Christmas party we usually have, and I probably won't be getting a Christmas bonus this year.

That's sad to hear. :(

Bump cannon, and: http://finance.yahoo.com/news/Major-stock-market-indexes-apf-14445908.html

:P

*raises a glass* Cheers to all the poor bastards in the states. Things are just fine here in Canada. You guys should seriously consider relocating. If you have certain job skills you can immigrate easily ;)

I'm doing just fine in the US, in fact, the place I work at is hiring right now.

This is why the government needs to let the economy ride itself out. If anything slash taxes; sure they can regulate against the sort of loaning that created this mess, but pouring money the country doesn't have back into the country is just weird, and frightening to all of us. Nationalized banks seem imminent, and everyone will rue the day that that happens.

But eh, I've got two jobs at the moment, and can always leech money from my school.

I just wish my gas bill wasn't so damn high.

There was a nice letter to the Editor in the paper the other day, the guy had a brilliant idea.
Instead of the government printing out money to give to banks/GM/Chrysler/anyone else who wants it. They could just give everyone a special printer that prints legal tender, that way if you can't pay your mortgage or bills for the month, you can just print out what you need and pay it off.
Sounds like a winning plan to me.

Would certainly save me money on toilet paper.

:P Now that would be a dream, wouldn't it?

No, it wouldn't. That's the point.

You do realise I wasn't be serious, I hope?

No, I didn't. That's the point.

Well, I found out yesterday that the company I work for is trying to sell their building. Which will either mean they're going out of business completely or they'll move to a smaller building (they've laid off 75% of their employees in the last year) which means I'll either be laid off as well or I'll get my hours cut back further.

Man that stinks, sorry to hear about that.

Target actually giving me MORE hours, and I really don't want them :P...