Market in Freefall

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Postmaster said:
I don´t gamble with stocks and thelike so I did not direct take flak.

Since 2000 I told everyone and his kid brother to buy real gold and store it under the bed. Works great for me since then.

Frank
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Great idea. Just out of curiosity, what's your address?
 
We are all doomed, at least in the US you guys have access to guns, what the heck can I get here it the UK to defend myself? other my sense of English sarcastic wit? :D
 
mjjason & mcgeedigital, chill dudes. I didn't type it, I didn't verify it with my handy dandy calc...... I just read it and enjoyed the dream of it all, even if the #'s were incorrect. :beer:
 
Batutta said:
Great idea. Just out of curiosity, what's your address?
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Nice try Batutta :)

Footnote:

They all called me a"internet conspiracy nut" when I told them to sell the stocks and buy gold back in January, cause this meltdown would come soon
 
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Postmaster said:
I don´t gamble with stocks and thelike so I did not direct take flak.

Since 2000 I told everyone and his kid brother to buy real gold and store it under the bed. Works great for me since then.

Frank
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Thats exaclty what I've been saying since around 2002, they laughed at me then

Of course my gold buying method is a little more "modern"

you get an credit card, etc, except the money is backed by real gold, you just pay a small holding fee thats all.

will provide link if you want.
 
Thank´s Anhar, but I only belive in Gold that I can touch.

Remember, the Dollar was backed by gold back in the good ole days - and what is it worth today?

Frank
 
When Warren Buffet and Bill gates bet against the dollar a year or so ago I knew this was coming. I think were still only suffering from a lot of smoke...The fire has yet to catch. Global economic meltdown is certain and a worldwide depression before 2010 that will make the last great depression look like a smurf slumber party. IMHO a lot of people at the top should do hard time for this mess.
 
Postmaster said:
I received that a view minutes ago via mail:

"I work in Credit Department at BoA (Senior Level Credit Analysist Boa Bldg 3rd fl, Char, NC). I got a memo indicating that all BoA credit cards are being closed as of 10/1. Credit score and income do not matter, all accounts are closed as of 10/1." Executive VP Bank of America

We are closing accounts, but only ones with credit scores under 750. We will reopen cards within a year as long as crisis lessens." - J.mcmanus / VP Credit Dept BOA

I can not confirm that - may be a spin.....

.....on the other hand, maybe I should get my money from the account tomorow.
In the moment I´m more concerned about the return of my money than about the return on my money.

Frank
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This is nonsense. Someone's trying to cause panic and a bank run.

I worked for BoA as part of Charlotte HQ. That is not how any BoA associate would describe where he works, or how he would give his title. And the "credit department" is not on the third floor of 100 N. Tryon. Not to mention that no VP would "leak" that info.

Panic helps no one. Spreading incendiary garbage helps no one.

If anyone else gets "Memos" like this, do NOT post them.
 
I never saw Mikko's post till now. And that is hysterical.

Oh I wish I could give investing advice. I have no idea where to even start. I only know I might be buying something tomorrow if I can find something to buy.

The way I see it, the market will drop again tomorrow after the foreign market response. Followed by another day of drops as 1st QTR starts.

So I have a feeling this hit isn't done.

Till then - I am considering entering the import/export market. Any one with connections in columbia?
 
"This is not economic armageddon"
-Robert Reich today on MSNBC
Former Secretary of Labor and Rhodes Scholar

Right now is actually a great time to buy stock. values are off and most of the major economic indicators are still sound. There is a big crisis of confidence though. Also, wait for housing prices to bottom out then drop in if you can get credit.
 
Jay Rodriguez said:
mjjason & mcgeedigital, chill dudes. I didn't type it, I didn't verify it with my handy dandy calc...... I just read it and enjoyed the dream of it all, even if the #'s were incorrect. :beer:
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Its all good man, I received this spam in my email box as well. I was just commenting on the math, not your post per-se. :thumbup:
 
MikeGunter said:
Well, it totally stinks, whatever.

Some of us aren't Spring chickens anymore and had our retirements we worked or lives invested...

Now what?

I, for one, feel like climbing a tower with a rifle...
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I'm glad I'm not in Montana... otherwise we might end up fighting over the same tower ;)

As for me, I have been saying the same thing as that email that was posted. Instead of giving that money to greedy fatcat executives who are just going to screw over their employees so that they can retire with a multi million dollar package, give it to us, the citizens. Make the execs open their own wallets to save their companies, or lose it all. With 700 billion in our pockets, it would help us to not only survive, but would stimulate the local economies.
 
Keep it all in perspective. No need to buy guns and panic. I come from banking and finance background. They key is a balanced portfolio. If you want to chase individual stocks that promise high returns then you are at risk and dont cry when the walls fall over. If you dont diversify you may as well get the rope ready.
 
My wife works retail; they approved several credit applications today. One assumes this is true nationwide.

Take a breath. It's unsettling, but the wheels aren't coming off.
 
Not a free fall. What are you trying to compete with Bush's address? lol
(not putting him down, politics aside, just making a point)

This is a LARGE adjustment, but unlike Argentina's economy the US economy won't have to declare bankruptcy on their debt... no money will be lost, we will only have to accept that we didn't have as much money as we pretended. My guess the DOW will level off at 10k.

If we brought our energy consumption expenditure back here within the US and we got a little more efficient ($) about how to keep the poo pooing terrorists pinned down on the ground we'd be back in black in 5 years after that...

till then MAKE MOVIES THAT SELL ABROAD!!!
we are the largest income to our economy, so get your scripts written and make them internationally friendly... DO YOUR PART :)
 
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