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The stock market is crashing!!

Kroze

Kroze

Diamond Member
:'(
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p0nd said:
does this mean i should go to the store after work and stock up on canned goods?
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I am buying as much canned goods, ammo and fishing supplies as I can afford.

If all else fails, I will go down to the local river and catch something to eat. And my hunting lease is paid up for the next year.

OILFIELDTRASH said:
Is it really that bad? I don't keep up with the news.
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http://www.foxnews.com/politics/2011/08/04/us-debt-reaches-100-percent-countrys-gdp/

The US now owes as much as we are worth.
 
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OILFIELDTRASH said:
Is it really that bad? I don't keep up with the news.
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It is pretty bad. I have kept faith in caterpillar for a long time and they didn't do too good this quarter, not bad but not good. I will not sell it, the company has been too good for me, but when they have trouble it usually is not a good sign.
 
Portfolio is only 0.3% off, but the day is very young...

Oh yes, sell all of your worldly material goods and assets and buy gold, run for the hills, the sky is falling!
 
Well, the stock market "recovery" is half baked to begin with. Corporate profits have gone up because they have cut costs, but sales aren't improving. Unemployment hasn't improved. We are importing more shit than ever and making less and less in the USA every day.

The economy is worse now than it was last year, and last year was worse than the year before, and things have been getting worse every year for quite some time.
 
The part that sucks is all the 401k's that are going to tank, again.

Thankfully I have 30 years left before I retire... but then again, the millions I'll have in there by then will be worth about a buck fiddy today.
 
TecHNooB said:
that's ok according to atot economists 🙂
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According to the atot economists, maybe the government should get a credit card and make a fortune on cash back incentives.

Could you imagine what the air miles and cash back would be on a 500 million dollar aircraft carrier?
 
European banks were never as "well" capitalized as poorly capitalized U. S. banks (and didn't get TARP).

This is probably an European Lehman lite panic, and unless there is tremendous hidden U. S. exposure to European Central Bank, U. S. will hopefully come out of this stronger relative to Europe.

Probably going to be a tremendous buying opportunity in stocks for long-term investors in U. S. at some point, even factoring very slow economic growth going forward.
 
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Modelworks said:
It is pretty bad. I have kept faith in caterpillar for a long time and they didn't do too good this quarter, not bad but not good. I will not sell it, the company has been too good for me, but when they have trouble it usually is not a good sign.
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yeah they would make more money if people were building stuff but seems like everyones broke
 
I hope the oil companies get burned worse then all, im entirely placing the blame of a second mild recession on their unreasonable stranglehold on energy
 
Spikesoldier said:
yeah they would make more money if people were building stuff but seems like everyones broke
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The company is still doing what it can to help and is why I stick with them.
They are doubling the number of employees at 2 different factories in the USA and going to 3 shifts at one of them. This is more panic than anything. I got in when they were $24 a share so not worried at all.
 
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