Armageddon! I am riding this one out ... :shock::lol:;):oops::roll::twisted::evil::idea::?::!::D:p

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see the 700billion post in politics, i laid it out in common words.

needless to say this is historical.

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Down 777. JACKPOT!

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[quote=asdf_admin;655751]Armageddon! I am riding this one out ... :shock::lol:;):oops::roll::twisted::evil::idea::?::!::D:p[/quote]

[IMG]http://i209.photobucket.com/albums/bb161/PokerStick/RalphBellamyandDonAmeche.jpg[/IMG] not amused.

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down -777 after the close

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I am not catching this... :roll:

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Gonna be a wild ride...
And by wild, I mean shitty.

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[quote=Shiva;655765]I am not catching this... :roll:[/quote]

The US financial market is on the verge of collapse! The $700 billion bail-out bill proposed by the White House didn't pass through Congress. Good thing I haven't really invested in stocks yet but my 401K plan is probably worth shite now. :(

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[quote=Shiva;655765]I am not catching this... :roll:[/quote]

the stock market is plummeting

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[quote=Shiva;655765]I am not catching this... :roll:[/quote]

worldwide global financial disaster. approaching this : [URL]http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929[/URL]

technically we have lost more than they did that day, but the %'s are smaller due to global inflation over the century, in reality, we didnt lose the % we did then but it is closing in fast.

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Fuck ... it just gets worse and worse.

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There might be a few more days of this to come. The house will not reconvene until Thursday.

[url]http://news.yahoo.com/s/ap/financial_meltdown[/url]

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seeing as this is GYY

If you had purchased $1000 of Northern Rock shares one year ago, it would now be worth $4.95.

With HBOS, earlier this week, your $1000 would have been worth $16.50.

$1000 invested in XL Leisure would now be worth less than $5.

But if you bought $1000 worth of Tennents Lager one year ago, drank it all, then took the empty cans to an aluminum recycling plant, you would get $214.

So, based on the above statistics, the best current investment advice is to drink heavily and recycle.

[url]http://www.sickipedia.org/joke/52305[/url]

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"looks like i picked the wrong week to quit sniffing glue"

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omfg. these past few weeks have verily been a utter bust. xbox live is down atm, i got layed off at work, i dropped my laptop on the wood floor and then it commenced blue screen of death because of that hand eye coordination failier. mercury is retrograde, and i am speecheless about the state of our pitiful, greed laden economy. ffs. fuck !!1

see u all hopefully again this year. best of luck and wishes.

stay up and stand strong. peace late.

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[QUOTE=Huggie Smiles;655797]seeing as this is GYY

If you had purchased $1000 of Northern Rock shares one year ago, it would now be worth $4.95.

With HBOS, earlier this week, your $1000 would have been worth $16.50.

$1000 invested in XL Leisure would now be worth less than $5.

But if you bought $1000 worth of Tennents Lager one year ago, drank it all, then took the empty cans to an aluminum recycling plant, you would get $214.

So, based on the above statistics, the best current investment advice is to drink heavily and recycle.

[url]http://www.sickipedia.org/joke/52305[/url][/QUOTE]

There will be plenty of Wall Street people subscribing to your plan after this week.

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[IMG]http://img148.imagevenue.com/loc1176/th_22568_US_Capitol_FAIL_122_1176lo.jpg[/IMG]

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yeah.. my 401k just lost about $1,400

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I just lost half my $$$$$$$$$$$$$ :shock:

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it'll come back. everyone needs to calm down and stop watching. its gonna get worse before it gets better, but things will recover...

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[quote=day_for_night;655843]it'll come back. everyone needs to calm down and stop watching. its gonna get worse before it gets better, but things will recover...[/quote]

tell that to the media at large. they share as much of the blame by stoking the furnace to the point where the house will burn down if they dont stop telling people how bad it is. if they told us things are great and we shold buy buy buy, the stocks of the banks wouldnt have tanked, they woulda went up,. and the losses, would have been absorbed. but then again, thats what we get for relying on a public market where ppl can log into e trade and fuck the market in one keystroke.

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^ | amen. if bush had any brains at all he'd get up on the nearest mic and tear the media a new one. there are times where sensationalistic journalism just sells papers, and then there are times when it truly makes things worse...this being the later. the media need to be held accountable for their over-the-top characterization of this. things are bad enough with out them screaming apocalyptic propaganda from the rooftops. where the hell is someone saying "enough is enough...you keep writing shit like this and we're gonna punish you for journalism run amock".

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[QUOTE=Huggie Smiles;655812][IMG]http://img148.imagevenue.com/loc1176/th_22568_US_Capitol_FAIL_122_1176lo.jpg[/IMG][/QUOTE]

Word!

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[quote=thesightless;655856]tell that to the media at large. they share as much of the blame by stoking the furnace to the point where the house will burn down if they dont stop telling people how bad it is. if they told us things are great and we shold buy buy buy, the stocks of the banks wouldnt have tanked, they woulda went up,. and the losses, would have been absorbed. but then again, thats what we get for relying on a public market where ppl can log into e trade and fuck the market in one keystroke.[/quote]

ive been thinking this for months now. i think part of the blame for the credit crisis lies with the media and sensationalistic journalism

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[COLOR=black][FONT=Helvetica][COLOR=white]Recovery will come ... the question is how much are you willing to loose? or How long are you willing to wait for recovery? 700 Billion dollars to bail out poor investments? Come on. The American people should get the 700 Billion dollars not the intuitions that made[/COLOR] [B][COLOR=red]poor greedy decisions[/COLOR][/B]. [COLOR=white]I could care less if that is the epicenter of our economy. It is broken ... let it burn.[/COLOR] [/FONT][/COLOR]

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@ shosh -- yes yes and yes. as it has been expressed more than clearly, but pushed under the rug, the bad debts are less than 1%. why cant the public grasp this fact?

@ dom -- the 700 billion is not a give away. and it wont take the 700, that is just the approved cap. the bad debt is actually less than 1 billion. the 700 number is the "jump start" number of cash lended to the banks to shore up thier balance sheets in order to the continuation of the economic lending that occurs in what we all know to be the "overnight rate" i.e. the daily loan repayments between retail, investment and central banks.

if ppl get on board, and pass the bill, and go back and buy the stock, this could end up only costing less than a few billion, which will be re-couped anyway as the Fed, the FHA, and debtors work on extension of terms for the debt, meaning instead of holding you to the fire for a few months of missed payments and then going thorught he foreclosure proceedings and associated costs, they will simple get the money in the long run, keeping ppl in thier haomes, and stabilizng the home prices.

everyone interested, head to politics, and read up in the bailout thread, miroslav and i have done our best to translate into common language all the facts and consequences. again, this is in no way a handout of money. it is an extension of a line of credit combined with an assumption of defaulting debt, of which accounts for less than 1% of the total mortgage and lending debt in the country. the assumed debt will be negotiated as to keep business running and ppl in their homes, with the government buying it at a discounted rate, still making profit on teh debt in the long run, just extending the terms and not penalizing the people.

and if you all want this resolved, call your senators and tell them to actually go to work tomorrow and not leave like they did today. they actually have the balls to not hold a session regarding this, literally clearing out the capitol by 5pm. we vote em in to work for us, and when they are needed, they are walking out like a fucking union line picket. there are ZERO plans to work tomorrow. i suggest ya all call in and tell em to get to work.\

as i said b4, potential global economic failure, brought to you via the US republican and democratic parties.

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I understand what is going on. The whole premise of bad investing is a mute point which is why we are in this mess. If I make a bad investment who saves me? Loans? Bankruptcy? 700 billion is huge when are defense spending is 600 billion.

This sickens me. Let them burn and the empire with it.

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again, it is not costing us out of pocket.. in the end, it is going to re-couped, not at 100%, but likely well above 80%. and the remainder will be sat on by the agencies, and re-couped at a slower pace.

i hate this. we are all sitting here waiting on the outside branch ppl to arrive and workin all night............

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so let me understands this ... We are going to give money to those who don't do well with it?

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[URL]http://www.mercuryserver.com/forums/showthread.php?t=60222&page=6[/URL]

start reading where i said "watch the nasdaq and S&P over the next 2.5hours. the dow may actually die"

the wording of it is what is killing it in the public eye.

giving does not equal lending. we are lending. we are not giving. i linked a bunch of trade journals type articles and miro and i tried to translate to normal comparisions and every day language.

this is essentially what i do for a livning since i left eh accounting firm. i analyze debt instruments and the related income for a private equity frim(read:bank, but not really) determining what will perform and what wont. specifically, above average performance bonds based on sub prime lending and commercial debt .

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why am i having so much trouble typing "THE" lately???teh teh teh

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Answer the question ... Kind sir.

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we are not giving it. it is an earmarked cap on a line of credit to wall street. the people in charge, with the exception of lehmans CEO, did fairly well with it. as the facts dictate, the so called bad debt accounts for less than 1%.

the main thing that happened over the last few months, is that a variety of factors lead to the investing public taking the money out of wall street circulation. what i mean by this is that every bank that operates at a scale like we are seeing, relies on the income generated through the sale of stock, just like any company. to be honest, the media and the downgrading of certain bonds lead the run on the money. remember the savings and loan failures? same thing, but this time, the public wasnt running from the banks at the retail level. they ran from banks by taking back and de-valuing stock. this can happen to anyone. notably the american auto industry over the last decade. think of it like this. what happens if bill gates wakes up tomorrow and the value of MS goes to shit. his company suddenly has no operating cash.

what wall street needs, and what congress is trying to do (when they arent bullshitting and pointing fingers at each other), is to give an extension of credit, guaranteed by the govt and fed reserve, in order to put the cash back into the economy. the bill is failing for stupid reasons to be blunt. read its core [URL]http://www.nytimes.com/2008/09/21/business/21draftcnd.html[/URL]

but as usual, the congressional asshats are tacking on ammendments for whatever causes. (toasty help me here). and are arguing a few minor details within the core.

i think i have covered most of the aspects of what happened, what is happening, wat results will come if it passes and if it does not, and the bill, the potential recoveries, and the actions that will occur if it passes in the other thread. im stressed out, probably gonna have to sleep here, and fucking hungry at this point. ill try to get my footing again, but obviously its been literally the worst day for the financial sector since 1982 and 1929..... and i need to escape.

read into the other thread, its all there. miroslav posted some brilliant wording as well.

quite literally, people were walknming around crying after the bill died... tomorrow congress is not going to be in session, so the market sell off will occur agian 100%, unless every media outlet, from papers, to radio to TV to mother fuckin skywriters get the real facts out there. ill say it again

THE U.S. GOVERNMENT IS NOT GIVING AWAY MONEY AT THE TAX PAYERS EXPENSE. IT IS A LOAN, IT COULD ONLY END UP COSTING 50 MILLION IF THINGS WORK OUT WELL AND SOME STOCKS RECOVER. read the links we posted, read the ideas, and then ask questions. directed at everyone who is missing some key ideas here.... right now. may just be second most important issue the US and world at large will ever tackle. no, doomsday isnt around the corner, they are not solving a disaster, but they sure as fuck are doing nothing to prevent it. given another week of 5% losses on the markets (btw, today's only took 30 minutes) we literally will lose up to one half of the worlds wealth becasue the investing public did exactly what they did in 1929, and congress refused to act or freeze trading.

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[quote=asdf_admin;655895]Answer the question ... Kind sir.[/quote]

our financial sector is the backbone of the united states of economy. our fates, if i may put it ever so poetically, are woven together. we're also not givin them the money directly, it's a conditional offer, and only where necessary. they might not even use a single dollar of that money.

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this right now is proof of the failure of the world's schooling systems outside of private education. people cannot be this stupid to not understand how the worlds economy works..... no one here, just humanity at large. we dont live in communal farming societies. we no longer base the currencies on any mineral. read into FIAT currencies. learn how market economics and capital investment works. read up on what the NEW deal was.

in order to grow, we need to spend.

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Sightless ... said as a true investor ... " IF THINGS WORK OUT WELL "

88Mariner ... well that is part of my point. it's not working why put or allow more money? The greedy bastards gave loans to people that should never be allowed loans. That's why we are in this mess.

Explain to me ... why as a citizen of the USA would I allow those scumbags access to more money to make more poor choices?

I don't like it. I don't trust it. Let them burn. Final Answer.

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the bad debt is less than one percent.

show me one single stock, deriviative, commodity, equity investment that has a 99% guarantee....................................................

seriously, you're missing so much D, just go read up. just a lot of facts should be included b4 the opinion formed. the media is killing us.

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Gold.

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[quote=asdf_admin;655904]Sightless ... said as a true investor ... " IF THINGS WORK OUT WELL "

88Mariner ... well that is part of my point. it's not working why put or allow more money? The greedy bastards gave loans to people that should never be allowed loans. That's why we are in this mess.

Explain to me ... why as a citizen of the USA would I allow those scumbags access to more money to make more poor choices?

I don't like it. I don't trust it. Let them burn. Final Answer.[/quote]

because the mindset of 'who cares?' months ago has been sharply changed to "what the fuck do we need to do to keep ourselves afloat and free of impending takeovers or complete failure?"

I personally doubt that those financial institutions are continuing to do act irresponsibility. Do you think they continue to act that way after the last three weeks?

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[quote=asdf_admin;655906]Gold.[/quote]

Commodities. I heard Campbell Soup was up today. MM MMM good :D