24 Responses to Crash and Burn: Dow slides -677 points in two days of trading

  1. Dennis E. says:

    The time is approaching and we all know it, that families will need to bond together and share resources. No, I am not a know-it-all or a fear monger. It is just that people are not going to be able to afford material things they like to have have now. The choices will be towards feeding themselves and just surviving. And we’ll find out how much we need each other and perhaps this will strengthen the family unit. I am thankful I got out of the market back in 98 because this mess that is happening now was foretold. But there are people losing 401 investments and everything else they’ve invested. It concerns me that some will take the ultimate route and take matters in their own hands.

    Just a thought

    Like

    • I agree Dennis E. I not longer have a 401. I cashed it out when I left my job to go back to school. I spent many years wondering if that was a foolish thing to do. After my divorce (which I would have lost half of it) and the crashes we have had, I don’t feel so bad anymore. Whatever extra money I do come by I invest in food. The rest of my riches are now invested with the Lord. He will provide as we need it if we trust in Him.

      Maranatha

      Like

  2. K.J. says:

    Dropping the interest rate to zero was really the only bullet they had left and it did not work…………. things just kept getting worse as many knew it would. This left them with their other bright ideas, go further into debt and start up the printing presses.

    Honestly, watching our governments deal with this mess is kind of like beating your head against the wall…………. it feels good when you stop.

    Like

  3. nickk0 says:

    I forget the famous poet who once said, “This is how the world ends / not with a bang, but with a wimper”.

    – Nick

    Like

  4. RainManRain says:

    Is there a geopolitical connection, or am I just in panic about the month of October?
    October 13,1857. -Panic of 1857
    October 29,1929 -Stock Market Crash
    October 19, 1987 -Black Monday Crash
    October 13, 1989 -Friday 13th Crash
    October 27, 1997 -Asian Financial Crisis
    October 24, 2008 -Financial Crisis 2008

    September 24, 1869- Black Friday
    and..
    October 26, 1962- Cuban Missile Crisis
    October 24 1973- Arab/Israeli War…including maximum DEFCON nuclear alerts in,
    October 1962 and 1973.
    The full moon occurs October 12th next month, but that’s just a thought.

    Like

  5. Bone Idle says:

    The derivatives Quadrillions in debt is the dinosaur in the room that no government or bankster want’s to talk about.
    Those who promoted these and let the banking regulations lapse to allow them to thrive should be jailed for the rest of their lives.

    Interestingly the chief financial officer of China last week stated that if George Soros had been allowed to run China’s economy then they (China) would be bankrupt by now.

    Like

    • Joel Peeters says:

      Georges Soros is a f…ing opportunist. Last time I heard about him he decided to drop on stocks and buy farm because that’s where money can be done (on the back of those who can not afford it of course). This guy is a disgusting man… but, after all, why should I wonder from a man being part of this big financial mess.

      Like

  6. Babylonfallen says:

    When the global mystery Babylon system is destroyed completely and all kingdoms are broken and burnt up, then will be the greatest joy.

    Like

  7. Marshallrn says:

    I don’t worry about what is to come, because at some moment in time something is bound to happen with the economy. Just the same way you feel as you hear the “cu-chunks” of a roller coaster as it pulls you up the first BIG incline. You know that when they stop the ride begins. The problem is that no one is county the “cu-chunks” and I don’t think the rollercoaster was built by engineers, but by greedy money people who have left out key parts of the necessary infrastructure. So my question is what happens when the ride starts and how will it end?????

    Like

  8. luisport says:

    Greek Financial Minister Evangelos Venizelos has told fellow socialists he sees three scenarios for Greece, according to Ta Nea via Bloomberg.

    In the “good” scenario, Europe hands over the bailout money along with a 20% writedown for bondholders.

    In the “better” [second best] scenario, the bailout accords fall apart and Greece enters an orderly default with 50% haircuts.

    In the “bad” scenario, the bailout accords fall apart and Greece begins a disorderly default.

    This isn’t an official position, however, and a government spokesperson has dismissed report, according to Reuters.

    Read more: http://www.businessinsider.com/venizelos-50-haircut-2011-9#ixzz1YlhHueFf

    Like

  9. luisport says:

    So much for the stabilization after Thursday’s selloff.

    European markets have lost early gains, with the FTSE 100, the CAC 40 and the DAX off over 1%. Oil fell too reaching $79.06/ barrel and gold declined to $1711/ ounce.

    Dow futures point to a negative open, losing early gains of nearly 100 points.

    Last night’s unexpected G-20 statement pledging to take strong coordinated actions to support Europe apparently was not convincing.

    Read more: http://www.businessinsider.com/rebound-gone-europe-dives-into-the-red-us-futures-slip-2011-9#ixzz1YltdcjG4

    Like

  10. luisport says:

    zerohedge zerohedge
    Endspiel: “Fed cannot bail equity markets out any more,” any ECB rate cuts “may not have much of an impact on markets,” Fidelity
    há 1 minuto

    Like

  11. Tina Marie says:

    The quote from your book Alvin said it best. We gave the financial institutions all that money with no strings attached and are now surprised that they misused it? We should have taken the oppontunity to say “hey if we give you this money, here’s what you need to do with it or else”. You can’t leave the children alone to play in the sandbox unsupervised. We brought this on ourselves by not demanding accoutability with these companies and making sure they didn’t squander it away giving CEO’s multi-million dollar bonuses, when it was most of them that caused their companies to be in the mess they were in. Everyone in Washington and apperantly around the world seems to live by the same priciples. Get what you can now and screw what happens later. They’re all rich anyway, so it isn’t going to hurt them.

    Like

  12. luisport says:

    russian_market ☰ SWISS BANKER ☰
    por zerohedge
    F L A S H: CAIRO (AFP)–Egypt’s Red Sea Port Authority: Ain Sokhna port at the entrance to the Suez Canal has been shut @zerohedge $$ #OiL
    há 1 minuto

    Like

  13. luisport says:

    zerohedge zerohedge
    GERMAN FINANCE MINISTER: MAY NEED TO REVISE 2ND GREEK BAILOUT – Dow JOnes
    há 32 segundos

    Like

  14. c/o Luisport

    South Korean Bank Chief Falls To His Death From His 6th Floor Office http://t.co/Q6uiEkan
    clusterstock 28 minutes ago

    Like

  15. For Marshallrn – when I was reading your comment, I too wonder how it’s going to end. Then I was reminded of a verse in the Book of Revelation”

    Revelation 6:6 “And I heard a voice in the midst of the four beasts say, A measure [approximately 2 pounds or 1 kilogram] of wheat for a penny [a day's wages], and three measures [approximately 6 pounds or 3 kilograms] of barley for a penny [a day's wages]; and see thou hurt not the oil and the wine.”

    For Tina Marie – I feel that the outrageously wealthy think they are invincible because they have enough stashed away to survive. But their invincibility is an illusion.

    Ezekiel 7:19 “They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.”

    Maranatha

    Like

  16. Joe Sosa says:

    Okay, So’nd so said this and this other said that…So what, to show that you read?…I would like to see comments like how to store food, water and, medicines, etc. what’s the max. they can last., What could be the best shelter…What about these enormous cages that are being built to live in for some time..Who knows about this and something similar? When it comes, all the words that past leaders said about whatever will be useless. Only survival, with guns in hand?

    Like

  17. Jeramy says:

    Take notice however that it can be not merely the value that matters but the further areas of the plan as well such as privileges, comprehensive insurance, reductions as well as other riders.
    The first thing they do is put people into different categories.
    Today, you can come across a lot of websites with car insurance quotes for potential clients.

    Like

All comments are moderated. We reserve the right not to post any comment deemed defamatory, inappropriate, or spam.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s