[heroineworshipper]

We're all gonna die! The cannibals & zombies R coming. The 50,000 watt firehose of money that is US is dead. Heaven forbid an asteroid hit Earth.

[frankthetank]

Olaf- Sorry to hear that. A lady i know is down, well after today, maybe $150K since a week ago Monday... That could send all her grand kids through a state college.

[frankthetank]

Jason- Its amazing your dad listened to you. My mom got out back in 2000, but the rest of my family thinks i'm nuts whenever i bring anything even remotely pessimistic up about the future.

I've known something was going to happen a long time ago. Its why my wife and I have never had a cent in the market. We just buy what we want and put whatever in savings. U can only prepare so much for the future, and you need to enjoy today, because tomorrow you could get crushed by a semi.

[smallpoxgirl]

I believe I've just watched the house I was planning to build next year disappear in a puff of smoke.
Folks that jest about this can go Fark themsleves. This is not a game.

There's no sense getting all freaked out about it. What's gonna happen is gonna happen. Any psychologist will tell you that people laugh as a way of relieving tension. It's the reason that soldiers and medical people are always telling morbid jokes. If people around here can't joke about this stuff, they're gonna have a stroke or go postal or something. I seriously doubt anyone fails to understand how serious this is. Well...maybe Lorenzo. He's pretty clueless, but the rest of us get it.

[charliebrownout]

I believe I've just watched the house I was planning to build next year disappear in a puff of smoke.
Folks that jest about this can go Fark themsleves. This is not a game.

There's no sense getting all freaked out about it. What's gonna happen is gonna happen. Any psychologist will tell you that people laugh as a way of relieving tension. It's the reason that soldiers and medical people are always telling morbid jokes. If people around here can't joke about this stuff, they're gonna have a stroke or go postal or something. I seriously doubt anyone fails to understand how serious this is. Well...maybe Lorenzo. He's pretty clueless, but the rest of us get it.

Agreed. We "lost" about $30,000 back during the tech downturn--mainly because jobs were scarce and we used to to cover medical bills and living expenses (trying to keep out of debt). Now we're in debt by about 20K instead of having a 20K mutual fund.

On the bright side, I guess, even if we'd been able to keep it back then, we would've lost it now. I hear you, though. Believe me, I hear you.

[gnm]

Agreed. We "lost" about $30,000 back during the tech downturn--mainly because jobs were scarce and we used to to cover medical bills and living expenses (trying to keep out of debt). Now we're in debt by about 20K instead of having a 20K mutual fund.
On the bright side, I guess, even if we'd been able to keep it back then, we would've lost it now. I hear you, though. Believe me, I hear you.

Maybe hyperinflation will help eliminate your debt - That would help me, I've got some medical bills to deal with now thanks to my company switching to a crappy ppo.
-G

[Madpaddy]

Yes bring on hyperinflation.

I'm going to need a second wheelbarrow to carry the money to buy my popcorn.

[frankthetank]

Comment from MW reader:

Can't even log onto the LARGEST pension/retirement fund of all: TIAA-CREF
When I phoned, they said the system was overwhelmed by "sell" orders -- many did not get executed so they are in the queue for tomorrow. And those (which are in mutual funds and variable annuities also invested primarily in common stocks) get executed at the end of the day, so the managers must put in enough sell orders of the underlying stocks at the end of the day. What do you think that will do to tomorrow's close even if the intermediate day has been up?

Someone else

Sold 2024 shares of Wal Mart stock, some of which I have had since my wife and I were married. Much of it accumulated when I worked for Wal Mart in the 80's and 90's. I was told by my CPA mother that was an idiotic move, that my tax bill will be well over $7000 for that sale and I'm just panicky. Fast Forward to Wednesday, I sold at 55, Wal Mart closed today at 51.39. My $7000 tax bill was covered by the amount of losses incurred since Monday

This can't end well...

[killJOY]

I've been preaching doom how long, and I'm still shocked.

I spent the night performing CPR on a vomiting woman. I didn't realize she was the world economy!

Oh, and she died.

[charliebrownout]

Maybe hyperinflation will help eliminate your debt - That would help me, I've got some medical bills to deal with now thanks to my company switching to a crappy ppo.

Ha! Yeah, that's the only bright side to hyperinflation. I could take the toilet paper rolls in the garage to the creditors and pay everything off :D

We've had ins. changes, plus the hubby worked contract IT positions for years, so we suffered under that. No one wanted to hire full "employees" just contract. One switch over happened and the day after I broke my hand and couldn't get an ortho to look at it. Had to have a busted hand for months wrapped in an ace bandage. Luckily it healed reasonably well. Bastards.

We've been trying to fix it by getting education in a different direction--good luck there, that's just more $$ right??

Anyhow, not to start a bitching session, but I have to say, I take the downturn seriously. I feel badly for the folks out there who have been trying to do the best they can and are getting blindsided right now.

[Spanktron9]

I believe I've just watched the house I was planning to build next year disappear in a puff of smoke.
Folks that jest about this can go Fark themsleves. This is not a game.

uhm dummy.. how long have you been on this site now? We all knew this was coming, if you had everything tied up in stocks... then you are a MORON!!!! I convinced my dad last year to take everything he had out of stocks because of this website.
He called last night and told me he was glad he listened. That is the closest my dad has ever come to saying he was proud of me. If you didn't believe the information on this site, then why are you here!!!

I had a similar situation with my Dad. I am in finance and back in February, I told him to get out of financials. He didn't listen. I told him again in May. He didn't listen. In July he moved his money to me, and said "You were right, that was a smart move. I should have listened." Same feeling. Closest he ever came in 39 years of ever saying he was proud of me. Probably the closest I will get.

[threadbear]

They finally used the "C" word on CNBC this afternoon.

Cannibalism?

[threadbear]

I believe I've just watched the house I was planning to build next year disappear in a puff of smoke.
Folks that jest about this can go Fark themsleves. This is not a game.

uhm dummy.. how long have you been on this site now? We all knew this was coming, if you had everything tied up in stocks... then you are a MORON!!!! I convinced my dad last year to take everything he had out of stocks because of this website.
He called last night and told me he was glad he listened. That is the closest my dad has ever come to saying he was proud of me.
If you didn't believe the information on this site, then why are you here!!!

Jason, The reason I've been pitching a fit on this forum for the last year, is because so many people here DID get rid of most of their stock but doubled and tripled up on their oil shares. NOT a good idea, but I'll refrain from ranting on again.

[Gebari]

by Christmas at this rate.

[Minvaren]

The '87 crash was 25% in one day. We are nowhere near that. Luv, M$M pundits

25% in one day. 25% in 7 days. A distinction without a difference.

They kill trading for the day at a 10% drop now, if I recall correctly. So a 25% correction/crash/clusterf*ck would take 3 days minimum to occur now, presuming no dead cats around.

[heroineworshipper]

Nov 5 is the end of the world. Election complete. No more bailouts. No more money. Paulson & Bernanke catch the last flight to antarctica. McCain & Ubacka take the escape pods to Canadia. Congress hides in the WV bunker. Dubya wanders around looking for a beer.

[fullerine]

My neighbor thanked me for making his million. I told him in 2000 to go to euros.

In just told my friend to get out of euros, stocks and everything else now.

He didn't even question me this time.

[emeraldg40]

Can this in anyway be a change for the good? Why are we not in the streets with our signs? The last good march was the illegals who I might say have a hand in this mess with their foreclosures. Sleepy nation, prozac nation.........

[Jotapay]

Can this in anyway be a change for the good?

If it makes bankers leap from high windows, sure.

[Buggy]

Down almost 700... I feel sorry for you investors. Sometimes its not so bad being poor.

Here here! I don't have a shirt to lose!