1928 Stock Market Crash all over again?

**deathfromafar** · October 9th, 2008, 11:49

It seems to get worse by the day. GM stocks took a huge drop today causing the Dow to drop below 9000. Makes one wonder what will happen next and how far the the points average will drop. Geez, not good, not good at all.

http://news.yahoo.com/s/ap/20081009/...re/wall_street

**DaveKDEN** · October 9th, 2008, 11:51

Well, the "crash" was in 1929, and this isn't even close. IMO, the current mess is 50% panic right now. Things will start to stabilize next week.

Pretty darn good analysis here though;

http://www.factcheck.org/elections-2...ic_crisis.html

**deathfromafar** · October 9th, 2008, 12:13

Good read there! And thanks for correcting my 1 year off lapse off fact there(urrggggg why 1928 was stuck in my head I don't know). Let's hope things start to stabilize. This crisis is global now and can still go down to the dirt in a heartbeat make no mistake about it. My friend who is an expert in this field called this nearly on the minute many years ago. Many things he nailed some things he didn't but I believe him when he says it isn't over.

**grumpos** · October 9th, 2008, 12:55

It's all the fault of Phil from Alphasim!!!

Only kidding folks. :d

Best wishes
Steve P

**Kofschip** · October 9th, 2008, 16:10

My 401(k)s turned into 001(k)s today

:greenf:

***Cazzie*** · October 9th, 2008, 16:14

Just watch the rich bass-tards mate, when the price gets right for them to rip off the market, they'll buy! Mark my word. Sum-bee-atches!:tgun2:

Caz

**Railrunner130** · October 9th, 2008, 18:26

Invest! Invest! Invest! Do your research first, though.

Drake · October 10th, 2008, 07:04

Hello gubment? How's that bailout working? I want my money back!

***Francois*** · October 10th, 2008, 07:59

I say we close all the ruddy stock exchanges. Most people will sleep better, live healthier and worry less. I refused to deal in shares and other speculative things long ago and just WORK for my money.

Oh, and we should just put all debt at 0, worldwide. Start anew, problem solved.

**cheezyflier** · October 10th, 2008, 10:38

Originally Posted by Francois

Oh, and we should just put all debt at 0, worldwide. Start anew, problem solved.

tyler durden had that idea years ago. trouble is, that doesn't work evenly for everyone.

let's say me and my buddy joe now suddenly have zero debt.
joe was morgaged up the ying-yang trying to pay for his mcmansion, and his hummer and his harley and his vacation home down the beach.
i on the other hand, own nothing because the ex-wife took it in the divorce settlement, and i just got laid off. i may have been near zero to start with and now me and joe both have zero debt, but joe has a pile of cool stuff that has some value, and i still have nothing.