Dow average plunges 513, worst drop since 2008

londonfog

londonfog

Well-Known Member
Carne Seca said:
We're headed for the second Great Depression. Things are going to be really tough for everyone. Both of my parents lived through the first Depression. The stories they tell are horrifying.
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well the 80 years cycle says we due for something big to happen
 
Charlie Ventura

Charlie Ventura

Active Member
Carne Seca said:
We're headed for the second Great Depression. Things are going to be really tough for everyone. Both of my parents lived through the first Depression. The stories they tell are horrifying.
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I have a number of clients who lived under communism in the old Soviet Bloc. The scary thing is, with the exception of one man, they all say that Americans had better wake up soon or we will be in the same fix as they were in the Old Country. Oh ... and what does that one man have to say? Simply, "its too late."
 
jesus of Cannabis

jesus of Cannabis

:-)
this is just s short term market correction, once Obama-mama pushes QE3 the market will rebound and stocks will go back up, CHA_CHING!!! keep buying
 
N

NoDrama

Well-Known Member
Obama doesn't have any control over QE3, That is the business of the Federal Reserve. Although He probably wields SOME influence. Obama Could try to institute more stimulus, but I doubt any amount of chair rearranging can stop the ship from sinking.
 
jeff f

jeff f

New Member
NoDrama said:
Obama doesn't have any control over QE3, That is the business of the Federal Reserve. Although He probably wields SOME influence. Obama Could try to institute more stimulus, but I doubt any amount of chair rearranging can stop the ship from sinking.
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i had a rough day ND. can you just be a little more subtle when telling the thruth. its enough to make a guy wanna put a gun in his mouth.

this ship is sinking and we are doing everything 180 degrees from right. we are fucked.
 
beardo

beardo

Well-Known Member
NoDrama said:
Obama doesn't have any control over QE3, That is the business of the Federal Reserve. Although He probably wields SOME influence. Obama Could try to institute more stimulus, but I doubt any amount of chair rearranging can stop the ship from sinking.
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He could choose to authorize a competing currency like Kennedy was doing with the United States Notes
 
undertheice

undertheice

Well-Known Member
jeff f said:
i had a rough day ND. can you just be a little more subtle when telling the truth. its enough to make a guy wanna put a gun in his mouth.
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i've been wanting to get a small tattoo of a target directly over my heart for just such an occasion. i have a relatively high pain threshold, but a fear of anything getting too close to my face. :bigjoint:
 
txpete77

txpete77

Well-Known Member
Carne Seca said:
This whole Super Congress development makes me a little nervous.
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I'm with you on that. I've heard the argument that its unconstitutional, but I don't see how as long as the whole congress votes on the bills they produce. Either way, the whole concept still scares me.
 
N

NoDrama

Well-Known Member
What? You nervous 12 people will be easily corrupted to all of a sudden make all sorts of changes to how our country works? No longer will the people be in charge, just 12 overlords to rule us all. Makes me nervous too. Might think about moving out of country, South America perhaps.
 
txpete77

txpete77

Well-Known Member
The whole of congress still has to vote on whatever comes out of this super committee.

I've been thinking the same as far as bugging out goes. Chile seems nice, however we still have more guaranteed freedoms/rights here - we just need to enforce them.
 
jeff f

jeff f

New Member
they are just looking to pass the blame, thats all. if the "committee" comes up with the solution, then not a lot of political fallout for the rest of them. probably similar to base closing commissions.

but non the less, they need to be watched like hawks, and the people are definitely tuned in. every where i go, seems everyone is talking about it.
 
BendBrewer

BendBrewer

Well-Known Member
All 6 Republicans have signed Grover Norquist's pledge to never ever ever ever ever raise taxes even if it means the destruction of America.

Nothing is going to come out of this. The Republicans will continue to do anything and everything to hurt our economy for the sake of winning an election.

Everyone needs to be reminded that today's Republicans are no different now than the were when they supported the Bush economic policies that started this whole mess and sent us into 2 recessions under Bush's watch.

It's sad that I have to share a Country with people who are so easily fooled by these Republicans.
 
beardo

beardo

Well-Known Member
txpete77 said:
I'm with you on that. I've heard the argument that its unconstitutional, but I don't see how as long as the whole congress votes on the bills they produce. Either way, the whole concept still scares me.
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The fact they do not and will not even fully read the bills their voting on really scares me.
 
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