Originally Posted By fkurucz <<Doesn't anyone but me want to predict where it ends the day? I'm still going with -142.>> Probably where it has been all day, around -500. The last two hours will be telling. Will "bargain hunters" materialze and push the index up a bit, or will there be a day end selloff puching down even further? I would bet on the latter, but will admit that the former could happen.
Originally Posted By fkurucz <<Is Disneyland ever busy during weeks in October?>> It was failry busy when were there last year (our trip coincided with fires). While not wall to wall people, the rides were not walk ons either. <<I've decided to wait until I get back to look at my 401K, otherwise I might panic.>> All the more reason to go. Sure once you return reality will still bite, but at least for a few days all will be well with the universe!
Originally Posted By Sport Goofy << Probably where it has been all day, around -500. The last two hours will be telling. Will "bargain hunters" materialze and push the index up a bit, or will there be a day end selloff puching down even further? I would bet on the latter, but will admit that the former could happen. >> If we are repeating history, Black Tuesday will be worse than Black Monday. So far, things have been looking eerily similar to 1929.
Originally Posted By mawnck >>So far, things have been looking eerily similar to 1929.<< If I turn on the news this evening and see Roosevelt on my television, I'm going to go stock up on canned goods right now!
Originally Posted By vbdad55 <One thing I recall about Mexico (when I lived there): Christmas bonuses are mandatory in Mexico, 20 days pay IIRC (90 days if you worked for the gov't). < in Brazil ) for all those who have seen jobs from their company go there) - they get a '13th month' salary. Think of that as a Christmas bonus if you will !
Originally Posted By vbdad55 <<<Food storage is a very wise thing. So is saving money. So is emergency preparedness. The need for these things seem more and more likely, so I urge everyone to prepare. I'm not preaching doom and gloom, just common sense. >> Some people are advising acquiring firearms and ammo because they believe that law and order could break down completely (I don't share that view).< We have done that - we 'updated' our Y2K one week emergency supplies - as well as have more cash on hand in the house now. I really hope the second part of that doesn't come true as I will not allow a gun in the house--I hope I never have to rethink that.
Originally Posted By vbdad55 <>>So far, things have been looking eerily similar to 1929.<< If I turn on the news this evening and see Roosevelt on my television, I'm going to go stock up on canned goods right now!< why do I have the Twilight Zone music playing in my head after reading this..
Originally Posted By ecdc So for you money folks, what do those of us with simple investments do? Let's say tomorrow the Dow completely tanks and ends at 6,000. What do we do?cut our loses and cash out, or hang tight?
Originally Posted By mawnck 623 and falling. Picture if you will a stock market. Not just any stock market, but the NYSE. Now picture if you will a crash ... Tutti.
Originally Posted By RoadTrip I'll never go hungry. I've got the phone number of every pizza delivery place in town. Everyone needs to do what they feel safe with, but personally I think all of the 2008 hoarders are going to feel just about as silly as the Y2K hoarders did when 1/1/2000 came and went without a hitch. But hey... have fun. Enjoy eating that SPAM for years to come. The crap lasts forever you know!! lol
Originally Posted By dshyates I thought the Bush Administraation straightened out Wall Street corruption when they jailed Martha Stewert?
Originally Posted By vbdad55 <So for you money folks, what do those of us with simple investments do? Let's say tomorrow the Dow completely tanks and ends at 6,000. What do we do?cut our loses and cash out, or hang tight?< no one will have THE answer...for me I moved all of my investments to money market type accounts early this year. My return is small- but it is not down 15% or more I have been tempted a few times tojump back into higherrisk funds and try and catch the run up - thankfully I was scared and did not do it..
Originally Posted By RoadTrip <<Anthony Sabino, a professor of law and business at St. John's University, said the "market is displaying one of its worst traits with a herd mentality, and investors have an appetite for feeding on fear." He cautions that, while there are deep economic and financial problems being faced, it is still not a nightmare scenario. "Most certainly, this is not the Great Depression of the 1930s, but (is like) the savings and loan crisis of the 1980s — and we bailed them out," he said. "Once people catch their breath, they'll see this is the proper analogy and this will breathe life back into banking institutions.">> source: <a href="http://www.startribune.com/business/30511964.html?elr=KArksCiU1OiPiiUiD3aPc:_Yyc:aULPQL7PQLanchO7DiU" target="_blank">http://www.startribune.com/bus...nchO7DiU</a> I see more than a little of that "herd mentality" and "feeding on fear" right here on LP. The term "fear mongers" comes to mind. Kind of like all the right wing crackpots and their "Obama is a Muslim" crap. You guys always thought you were smarter than that.
Originally Posted By vbdad55 <Everyone needs to do what they feel safe with, but personally I think all of the 2008 hoarders are going to feel just about as silly as the Y2K hoarders did when 1/1/2000 came and went without a hitch. But hey... have fun. Enjoy eating that SPAM for years to come. The crap lasts forever you know!! lol < we rotate the stuff through - so nothing goes bad. Canned Tuna/ beans / canned meats / gallonsof water / beef jerky batteries / flashlights that don'tneed batteries / radios that have crank power / firstaid kits / decks of cards - etc.. The Red Cross site has a great listing for emergency need items
Originally Posted By utahjosh That's good stuff, vbdad55. Thanks. I'm not advocating stocking up on weapons or giving up on a normal future. But we never know what the future may hold, so it's best to be prepared. Here are a couple of good resources on the subject: <a href="http://providentliving.org/channel/0,11677,8033-1,00.html" target="_blank">http://providentliving.org/cha...,00.html</a> <a href="http://www.ready.gov/america/getakit/index.html" target="_blank">http://www.ready.gov/america/g...dex.html</a>
Originally Posted By Sport Goofy "Most certainly, this is not the Great Depression of the 1930s, but (is like) the savings and loan crisis of the 1980s — and we bailed them out," he said. "Once people catch their breath, they'll see this is the proper analogy and this will breathe life back into banking institutions." Actually, it is more like the banking crisis in 1929 than the 1980s S&L crisis. A simple bailout will not do here. However, I continue to believe that we are not headed for the next "Great Depression." An economic depression might be in the cards, just not a "Great" one.
Originally Posted By utahjosh The point is not to live in fear. The point it to prepare, so you have nothing to fear.
