United States economy doomed …

[Rick]

I saw this posted on another forum. It's about an hour and 15 minutes long, and it takes this guy forever to get to his point, but when he does, it makes the wait worth it. I'm not sure if I believe this guy or not, but if he's right, we're in deep do do. 🙁

http://video.google.com/videoplay?docid=3340274697167011147

 

[freedom]

and the beat goes on ......


sept 29 2008 , us stock market drops by 777 points on word of bail out plan rejection by the house .... this monday surpasses the old black monday to take it's place in the history books .

 

[UAL_TECH]

and the beat goes on ......


sept 29 2008 , us stock market drops by 777 points on word of bail out plan rejection by the house .... this monday surpasses the old black monday to take it's place in the history books .

sept 30 2008 , us stock market 'gained' 485 points. Why, markets are ---> :wacko:

B) xUT

 

[freedom]

Dear doom journal …oct 7th

Yesterday the market dropped by 365 odd points , world wide things were much worse with markets in Russia and other countries shutting down after dropping from at least 5% to higher numbers such as 9% ….banks in Europe were nationalized


Dear doom journal…oct 8

500 point drop

, today more banks in Europe were nationalized in fact almost all of the major ones, with depositors being assured that their funds would get complete return …. People have been continuing to rush into us treasuries and overseas economies are trying to grab as many dollars as they can get their hands on … the T yields are pathetically low and the libor rate keeps breaking fear records .furthermore it looks like the nation of Iceland may be going the way of us airways from old , aka BK .... in Iceland ALL of their banks have been nationalized ... Europe is scrambling to come up with a comprehensive continent wide solution ....

As far as the rest of the world goes , Russia’s market shut down AGAIN , I’m noticing a trend here , as did the markets in brazil and other countries…

Today the fed announced that it would begin short term lending to help free up the credit market ... no one on wall street noticed because most of them fully understand how total and utter this mess is that we're facing ...soon the fed will be having an emergency interest rate meeting on Thursday , i suspect a full point drop , if not more ....and I’ll say ben berneke sure has a flair for drama , he came on tv and basically told the world we’re all fubar in 09 … but I’ve only been saying that since 07 …

as for the rest of the week , it will be a classic horror show where we watch the rest of the free world get the snot beat out of them economically

 

[JS]

and the beat goes on ......


sept 29 2008 , us stock market drops by 777 points on word of bail out plan rejection by the house .... this monday surpasses the old black monday to take it's place in the history books .

Disney history rather than actual history?

 

[freedom]

Dear doom diary ... today the fed annouced an emergency rate cut of half a percent .... the market is down by 200 points at this time ... nothing seems to be steming the tide , and asian markets continued to fall again last night ....

fear is growing ...

 

[Garfield]

does this mean you'll be coming for my spare property soon?

 

[freedom]

does this mean you'll be coming for my spare property soon?

it does indeed ....

and i know your joking , but i'm not ... did you see the NIKKI ? that's the japanse market ... my eyes litteraly popped out of my head when i saw yesterdays decline ...

but those things don't mean anything to you do they ? your not capable of understanding how this is all interconnected and how it will end up affecting each one of us ..or are you ?

do you understand what a rate cut is by the fed ?

do you understand the concept of interbank lending and libor ? does commerical paper mean anything to you when i say it ?

captial resveres?

downgrades on national credit raitings ?

ding dong ..... anyone home ?

 

[Garfield]

it does indeed ....

good then I am bored and need entertainment should I tell your credit card you're welching on where you will be

 

[Garfield]

it does indeed ....

and i know your joking , but i'm not ... did you see the NIKKI ? that's the japanse market ... my eyes litteraly popped out of my head when i saw yesterdays decline ...

but those things don't mean anything to you do they ? your not capable of understanding how this is all interconnected and how it will end up affecting each one of us ..or are you ?

do you understand what a rate cut is by the fed ?

do you understand the concept of interbank lending and libor ? does commerical paper mean anything to you when i say it ?

captial resveres?

downgrades on national credit raitings ?

ding dong ..... anyone home ?

would you be kind enough to post your credentials as a financial expert here?

 

[freedom]

would you be kind enough to post your credentials as a financial expert here?

well , gee , these things really aren't THAT hard to understand if you take the time to learn about them ....

Let's say i picked up a book on a topic i knew nothing about , say the ancient history of china , and i read it .... by the time i finished reading the book , i should know the general outline of the history , the major events and the names of some of the major players ...

it's just THAT easy with our economy ...can i suggest you start by reading the wall street journal everyday ...i'll be the first to admit that when i picked it up i didn't understand half of what they were saying , but as i grew to understand the context (and using google ) i grew to have a much firmer , more sound understanding of the picture ...

it also helps that i'm extremely detached from the situation .... I’ve less to lose than most , so i can view the picture more clearly , and right now the experts are fooling themselves , as are the people invested in the market .

Why? Because the reality is to frightening to want to comprehend ..


As far as my credentials go … baggage handler … and that should speak volumes to another handler …. You know how much free time we have at work , have always had , some watch sports , others chat on the phone , I , I review world wide financial news and trends

 

[Gilding the Lily]

it also helps that i'm extremely detached from the situation .... I’ve less to lose than most , so i can view the picture more clearly , and right now the experts are fooling themselves , as are the people invested in the market .

Why? Because the reality is to frightening to want to comprehend ..

Perhaps. But even if they clearly see the situation, would you really expect such experts/economists to paint the picture "as is"? Our system, obviously, works better when there is abundant confidence. It does not work as well when there is uncertainty and, even worse, panic + uncertainty. Unfortunately, because our system has those mechanisms built in, when experts say that we are in for a major hurting, then it may become true (whether rightfully or wrongfully so). It may become a self-fullfilling prophecy. Many banks runs have been started due to unfounded rumors, but they become "founded" only once the rumors are spread. This nearly happedned to E-trade prior to all the failures. So, with this in mind, we must understand the motivation behind the experts. They hope that by showing their own confidence in the market, they are encouraging our confidence in the market and, thus, creating a better situation. If they all displayed uncertainty, then, within hours, we are in big trouble. In other words, on either side of the coin, a handful of economists or big-time investors (e.g., 15 Buffetts) could possibly make things true just by saying it... although, one side of the coin is a harder sell (I don't need to tell you which side of the coin that is).

With the popularity of the internet (and hence, giving a voice to everyone) this phenomenom is difficult to control. Panic can spread within minutes. Panic is caused from uncertainty. That is why you always hear economists/experts try to put timelines on things (e.g., slowgoing till second half of 2009).

 

[freedom]

your rigth gidingly lilly , i do understand WHY they have to be optmistic and what not , but on the other hand i really worry that they may be buying into their own sunshine .... is someone preparing a plan B for when the US ECONOMY comes to a grinding halt? life will NEED to go on ...

Dear doom journal ...

today the market decended into the 8000 point range ... as sad as that is , i feel gratified because i have now proven my point to the "roid monster " ... i once had an argument about oh say 6 months ago where i explanied that things were going to get "really really bad" but no , roid monster with his college degree said things would just drop to around 9000 thousand points and the people who can't pay their homes or loans would get washed out of the system .....

Well this under educated baggage handler knows different , and today i've been proven correct ...the US market is collapsing around us ... i feel like that dude in the 1978 superman movie who is telling everyone that a horrible event is coming , but noooo most people don't listen and so i' and others like me are just kooks .... you know what the worst part of this is doom journal ? in the superman movie the dude was able to put his son into the pod and send him to another world .... well i don't have a pod .... that's the worst part of it ...and even if i did have a pod AND a son ... i'd make sure that it was me in that pod and not some infant ...i mean come on , a man can always have more children right ?

that's about it for today doom journal , althou iceland may announce BK tonight , if they do we can expect markets everywhere to drop like rocks .. heck the us market might even close tomorrow ...

 

[freedom]

Dear doom journal

Last night the asian markets got beaten to a bloody pulp .. .the nikkie lost more than 880 points fully TEN percent of their entire market in one day ...

Today the president spoke this morning in a move to try and shore up confidence .... it failed .. as i write this we are only 90 points away from the 7000 point range ... in just under a year our markets have fallen from a high of 14000 points to what may soon be half that ...

Will the blood letting ever end!@?????

The worst part of this all is how few people actually understand what's going on .... it's like being on the titatic while it's sinking with only 2 other people on board who also know it's sinking and everyone else is asleep in their cabins or having a drink at the bar .

on the upside i've found a new bar with great happy our specials , we're talking 2 dollar corona's and 12 wings for 3 bucks ... the michlobe ultra is even cheaper at 1.50 a bottle, at least there's some good left in life .

it took me awhile to write this as i thought on my words doom journal ... now we're only 3 points away from the seven thousand mark :unsure:

the fools ....

 

[JS]

...it took me awhile to write this as i thought on my words doom journal ... now we're only 3 points away from the seven thousand mark :unsure:

the fools ....

The DJIA is at 7090 points? I would like to see a link to that, because mine says it was 8,199 about 20 minutes ago.