OT:Financial Crisis and us

ethios4 · Post by **ethios4** » Wed Oct 08, 2008 2:53 pm

What, you don't think if they released it earlier it might turn this whole ship around?

forge · Post by **forge** » Wed Oct 08, 2008 2:57 pm

ethios4 wrote:What, you don't think if they released it earlier it might turn this whole ship around?

it will almost certainly turn our world around

in fact this discussion may even stop for a couple of months

beats me · Post by **beats me** » Wed Oct 08, 2008 3:03 pm

I think this all goes back to when somebody decided after a certain amount of time that a chicken is worth a cow. So all these people are freaking out because they can no longer make loads of money by doing jack shit and their chicken is still worth a chicken.

I'll stop there before I start sounding like I am quoting out of Hitler's playbook.

OvertoneZero · Post by **OvertoneZero** » Wed Oct 08, 2008 3:25 pm

The global banking system was a massive ponzi scheme that funneled wealth and assets into the bank accounts of the ultra rich financiers. The rich just got a lot richer, really, really, really quickly.

I'm all for hoping for a better tomorrow but the reality of the situation is that we have passed a tipping point and I would advise all to think about your level of personal preparedness. Don't panic.

ThrowAway · Post by **ThrowAway** » Wed Oct 08, 2008 3:28 pm

arctic ranger wrote:I work in construction and there is talk that this could really adversley
future contracts. We were supposed to start a new job on Nov 1st, now even that is being pushed back.

The one good thing to come from this is I will now be able to catch the Pitch Black show in Van.

I suppose I am benefiting from wall streets greed as well

Im a welder and I can foresee some slow downs especially in large jobs where materials could cost well over a million, (all these companies buy on credit and loans.) but I think at least my industry will be one of the quicker ones to recover...if your a house builder well, Id learn another trade if I was in that boat. All and all I think well be in the clear in a year or so.

Bagatell · Post by **Bagatell** » Wed Oct 08, 2008 3:33 pm

Banking Collapse Announces the Beginning of the Golden Age
Please keep your seatbelts fastened until the valves have warmed up.

NorthernMonkey · Post by **NorthernMonkey** » Wed Oct 08, 2008 4:04 pm

Bagatell wrote:Banking Collapse Announces the Beginning of the Golden Age
Please keep your seatbelts fastened until the valves have warmed up.

It's internet rubbish like that that is causing even more people to panic.

hambone1 · Post by **hambone1** » Wed Oct 08, 2008 4:06 pm

NorthernMonkey wrote:
Bagatell wrote:Banking Collapse Announces the Beginning of the Golden Age
Please keep your seatbelts fastened until the valves have warmed up.
It's internet rubbish like that that is causing even more people to panic.

+1.

Paranoia is a dangerous thing...

forge · Post by **forge** » Wed Oct 08, 2008 4:07 pm

NorthernMonkey wrote:
Bagatell wrote:Banking Collapse Announces the Beginning of the Golden Age
Please keep your seatbelts fastened until the valves have warmed up.
It's internet rubbish like that that is causing even more people to panic.

+1

I'm so over that kind of 2012 prophecy type crap - I used to be interested once, but all it does it undoes you and makes you FEAR the future

you could be dead tomorrow, so live today

hambone1 · Post by **hambone1** » Wed Oct 08, 2008 4:10 pm

forge wrote: you could be dead tomorrow, so live today

+1!

mikemc · Post by **mikemc** » Wed Oct 08, 2008 7:50 pm

Money moves out of the stock market, some value is lost of course, but the people moving big blocks of money for the richest people are putting it somewhere. Wonder where?

If there was a conspiracy theory, it was that foreign anti-Western investors are purposefully sync-kicking the western markets while they're down, despite their losses (can't have a thread like this without one of those, right?

, and it beats 'the vibrational dawning of the golden age'

,

However the Russian stock market has closed itself until Friday. So the weaker economies are getting hit hardest.

The bailout and interest rate cuts are supposed to be providing some buoyancy, but I agree that is seems that fear is what is motivating this more than anything, like people that can't swim swamping the rescue boat. And the media fear mongering isn't helping a whole lot.

NorthernMonkey · Post by **NorthernMonkey** » Wed Oct 08, 2008 8:08 pm

mikemc wrote:Money moves out of the stock market, some value is lost of course, but the people moving big blocks of money for the richest people are putting it somewhere. Wonder where?

I can answer that for you (at least from my perspective) - a lot of money is moving into private investment (when I say 'private' I mean when the financial information is not available at a public level - that gives traders a competitive edge on the markets, although new guidelines are being published on a daily basis regarding trading but that's another story). I'm sure you've read the reports of investing in gold which is fairly typical of the private investor mindset right now, but we've also seen huge amounts of money moving into hedge funds in the last few days. I think the big investors are simply moving money around to wherever they feel will get them the best returns and that, at least right now, seems to be private investment, which sort of explains why the 'public' markets are very turbulent right now.

If there was a conspiracy theory, it was that foreign anti-Western investors are purposefully sync-kicking the western markets while they're down, despite their losses (can't have a thread like this without one of those, right? , and it beats 'the vibrational dawning of the golden age' ,

However the Russian stock market has closed itself until Friday. So the weaker economies are getting hit hardest.

Regardless of the lunatic rantings, there's no conspiracy, everyone is feeling the effects right now, and there'll be a lot more to come. Hopefully the Government responses will help to calm the markets.

The bailout and interest rate cuts are supposed to be providing some buoyancy, but I agree that is seems that fear is what is motivating this more than anything, like people that can't swim swamping the rescue boat. And the media fear mongering isn't helping a whole lot.

The problem that the panic is causing is that it is becoming almost impossible to predict financial trends - look at the market indexes, they're all over the place on an hourly basis, and that makes it very difficult for traders to formulate strategies. The newspapers, TV and internet are causing more damage than they realise.

Bagatell · Post by **Bagatell** » Wed Oct 08, 2008 9:01 pm

NorthernMonkey wrote: Regardless of the lunatic rantings, there's no conspiracy, everyone is feeling the effects right now,

By that, do you mean the conspiracy is now is now a fact clear for all to see?

NorthernMonkey wrote: Hopefully the Government responses will help to calm the markets.

Your naivety is quite charming.

NorthernMonkey · Post by **NorthernMonkey** » Wed Oct 08, 2008 9:04 pm

Bagatell wrote:
NorthernMonkey wrote: Regardless of the lunatic rantings, there's no conspiracy, everyone is feeling the effects right now,
By that, do you mean the conspiracy is now is now a fact clear for all to see?

NorthernMonkey wrote: Hopefully the Government responses will help to calm the markets.
Your naivety is quite charming.

There's simply no response to that.

arctic ranger · Post by **arctic ranger** » Thu Oct 09, 2008 12:58 am

ThrowAway wrote:
arctic ranger wrote:I work in construction and there is talk that this could really adversley
future contracts. We were supposed to start a new job on Nov 1st, now even that is being pushed back.

The one good thing to come from this is I will now be able to catch the Pitch Black show in Van.

I suppose I am benefiting from wall streets greed as well
Im a welder and I can foresee some slow downs especially in large jobs where materials could cost well over a million, (all these companies buy on credit and loans.) but I think at least my industry will be one of the quicker ones to recover...if your a house builder well, Id learn another trade if I was in that boat. All and all I think well be in the clear in a year or so.

Lucky I'm an iron worker.

The good thing is that i am not building houses. The bad thing is I erect steel buildings worth millions of dollars. It will slow down but we all remain optimistic.