Bloody Tuesday: Jan. 22, 08'

[Sourdough]

Without massive intervention, tomorrow "may" go down as bloody Tuesday. So those who fear economic anarchy, stand by to rock n' roll.

The "KEY" word is May happen. A lot can happen over night, to alter events.

So how much would the S&P 500 or Dow Jones 30 index, Russell 2000 have to drop for you to be alarmed??? Or maybe it does not matter. So what would be the line in the sand that would indicate Financial SHTF. Maybe 21% unemployment. We talk about TSHTF but it is unclear where the line is. How do you know when to panic.

[trax]

I think we're going to see some pretty heavy duty intervention. When to panic? that's easy...never.

[Rick]

One day? One month? That's not what the stock market is about. Mid course corrections happy all the time and recessions hit about once every 20 years (on average). If things were going to be "bloody" you'd see guys like Buffet and Gates dumping their holdings.

Don't remember the Bay of Pigs? The fall of a President? Don't remember even odd gas days or silver tanking out because of the Hunt Brothers? This is just one more bump in the road for an old guy. I panic when Trax does.

[trax]

I was that close to running out of the room screaming, now I have to set a better example for Rick.

[nell67]

I remember the even /odd days for fueling your car,but I was no where near old enough to drive.LOL

[Sourdough]

Rick said, "Don't remember the Bay of Pigs? The fall of a President? Don't remember even odd gas days or silver tanking out because of the Hunt Brothers? This is just one more bump in the road for an old guy. I panic when Trax does.[/QUOTE]

I remember all of that.....In the 70's I paid 17.5% interest on A prime Plus 2%, plus 2 points every six months on a Bank Real Estate loan, not a credit card. I remember the Dow at sub 400, no not 4,000 but 365. Like they say a recession is when the neighbor is unemployed, a depression is when you are unemployed. I met Bunker Hunt at a hotel coffe shop in Anchorage, Alaska after the silver mess. His quote to congress is still my all time top choice. "Any man who knows how much money he has, does not have very much money"

[Canadian-guerilla]

been watching the Canadian markets fall all day
will be watching the asian/europe markets tonight
if they go red like they did last night
will definitely be interesting tuesday morning

[Sourdough]

We could open down 11% to 14% Tuesday. Squeezing the Hedge Fund Managers with Massive Margin Calls. I think they will step in with massive intervention tonight. Glad I no longer have a securties License. I am going snowshoeing now, not my problem..........Damn I fell through the ice again.

[Rick]

If anyone didn't see the housing market crunch coming five years ago they had to be blind. I've been harping to my wife for at least that long that too many houses were being sold on questionable loans and too many being built, period.

[Sourdough]

They Better get with it or she is going to open down 1,200 points. Asia is unwinding.

[Assassin Pilot]

ewww... stocks

[Sourdough]

ewww... stocks

Ask your dad, "WHAT IS LOCK LIMIT DOWN" mean.......and will it effect the family?

It is looking "LOCK LIMIT DOWN" .

[Chris]

We really need a rate cut, they're worried about inflation but inflation right now is being cause by oil demand, and ethanol demand, neither of which are going to be increased by a rate cut, and overall inflation outside of those areas is low. Idiot bernanke.

Not just a rate cut, but a BMF rate cut.

It'd also help all those 5 year ARMs that are expiring, if you cut rates enough when they expire payments for many may actually drop, instead of increase.

My portfolio, while still up nicely through 2007, has given up so many gains, so so much. I don't know if I can take another huge down day.

[Sourdough]

They (The worlds Centeral Banks) are throwing everything at the Asia markets, Trying to turn it around. They got her up 200 points. but she is still over 980 points down. It was down near 1,300 points in two days.

If it opens lock limit down, The President may declare a holliday.

[Ole WV Coot]

I remember all the good stuff and you paid 30% down for a 10% loan. I think this could have been prevented if the government let people bite the bullet when things got a little rough instead of a bailout for folks that bought way over their heads because the banks were pushing cheap money. People today don't check the total price or charges, they just ask how much a month is it gonna cost me. With that kinda thinking you gotta learn the hard way. I was heavily into investing in that field but I also saw the writing on the wall and I bailed when the market was peaked at well over 14,000 and scattered $$ into CDs and other goodies like gold. I don't have to work, retired. And don't have to worry about a pension, took a buyout 12yrs ago but I do worry about the youngsters who weren't old enough to remember Viet Nam, riots, Weathermen, Black Panthers and all the other radicals plus the 17% house loans and odd-even days by the last number of your tags.

[Sourdough]

You can see the intervention points on the NIKKEI 225. It appears they can hold it, at down about 1,100 for two days. Two and a half hours to go till close.

[WildGoth]

hey guys first off if SHTF we are ready we all go to the artic circle and ride this sucker out lol jking but really with all our prepertions i think we are ready second this has happened before just a shorter time span remember in the 70's and everyone freaked out but it went back to normal

[Sourdough]

Nikkei down about 1,400 in two days (10.0%). Down 753 points last night.

Efforts to hold the free fall failed. America well open Lock limit down. You can not sell. You can only hope that intervention works Wed. in Asia.

[Smok]

Is this how they bring in the Amero by devaluing the dollar

[Rick]

My point to "do you remember" is we've been through all of this before, again and again and again. The change for this go round is we now have folks that "want it now". That's why ARMs have been so popular. Can't afford that large of a home? No problem. Get an ARM and worry about it later. Well, it's later and I'm not at all certain folks that were so foolish need to be bailed out by cutting the rate. That reinforces the "get it now" mentality and we will continue to be a nation of "don't worry about it" because the government will bail us out. We often learn by our mistakes and now it's lesson time.

It's simple, really. Live within your means. Save your money. Get rid of credit card debt. Oh, here's one. Take financial responsibility for your own life. If you fear financial ruin then make yourself financially solvent and not only are you better prepared to ride out the rough times you are one less person contributing to the problem.

As for stocks. Historically a good investment all around. For those of you that think now is a bad time to buy stocks. Now is the best time to buy. Prices for most are low and Wall Street is having a fire sale. This is a buy market.

The thing I fear most are the lawyers hocking their "Pay the IRS pennies on the dollar" or "File for bankruptcy now" spiels. Guess who winds up paying for that? You and me. It's just one more reinforcement that folks don't have to take financial responsibility for themselves.

[Chris]

Well they cut rates.. I think it should have been a full 1 though.

[Sourdough]

Well they cut rates.. I think it should have been a full 1 though.

And it should have happened 5 weeks ago. The market is running the FED.

[Beo]

I panic everytime I see my pay check :D I don't need to worry about the stock market, we have layoffs here in Cincy with the Sheriff's Office, just worrying how far up the chain they'll go.

[canid]

i live in a county with 10% unemloyment and 16% poverty. this isn't s bad as it could be, but like so many undeveloping areas in the country, it is like a permanent state of recession.

to top it off, in the last ten years we built far too many new housing developmment out of our orchards, the land we use to grow out chief products. i've always felt this community was short sighted...

[Rick]

Not just there, canid. That vision is everywhere. Farmers have sold development land left and right over the last decade and now houses stand where corn and beans once grew.

[canid]

what i've been trying to decide is whether this behavior is more akin to suicude or to smoking.

[Sourdough]

Maybe there are just too many humans on the planet, And they (we) are the cancer (skin cancer) on the earth. Just as mutant cells destroy the host, so we destroy the earth.

[Rick]

I do disagree with that, Hopeak. We will never destroy the earth, only our ability to survive on it. 10,000 or 100,000 years from now I doubt Mother Earth will remember us any more than we remember that cold we had last year.

[canid]

yeah, but i am gonna miss us, and the adorable little critters we take with us.

aside from the many species threatened by out activities, let us not forget the 3 cuddly little species of lice that can't survive without thier respective habitats on peoples uhm, persons.

[Rick]

It's okay, canid. I'll be sure and write.:D

[Sourdough]

I am not in favor of no humans. My point is just that if you make a list of human problems. Most if not all would be worse if you double the number of humans to 13 billion. And all would be reduced if the number of humans was 2.5 billion not the current 6.5 billion humans. But if you want to get burned at the stake, say pandemic good, war good, humans starving to death good.

[wildWoman]

In reading some these apocalypse now posts, my late grandma came to my mind, and remembering her put all this hype and panic into interesting perspective.
She lived as a teenager through world war one in Europe, survived the spanish flu, had to forgo getting a decent education or job training to help her family live through the depression, survived Nazi Germany, raised her family as a single mom, and when she died at the age of 95, she told us not to grieve too much for her because hers had been a long and good life. Now if people with experiences like that in their lives can look back without bitterness, and maintain compassion and love for others, and make do with what they have without complaining....I think we look like a pretty darn self-centred bunch of whiners...

[Rick]

You bet, WildWoman. Well said. Every generation has those that stand on the corner with a sign that says, "The End is Near". Many won't remember Pogo but I favor one of his more popular sayings. "We have met the enemy and he is us."

[canid]

yeah. i saw a documentary on cultural perceptions of armageddn scenarios and it said mentioned how almost every generation has thought it was going to be the last.