|
Post by BeenThere...DoneThat... on Aug 4, 2011 14:43:12 GMT -5
I think I'm going to get some peanut M&Ms from the snack machine. ugh. they were good, but I really didn't need them. ...yeah, but isn't a little extra fuel storage shaking on your thighs good for the proverbial "30days of night"?
|
|
billisonboard
Community Leader
Joined: Dec 20, 2010 22:45:44 GMT -5
Posts: 37,515
Member is Online
|
Post by billisonboard on Aug 4, 2011 14:47:31 GMT -5
|
|
AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
Posts: 31,709
Favorite Drink: Sweetwater 420
|
Post by AgeOfEnlightenmentSCP on Aug 4, 2011 14:49:51 GMT -5
Did you buy food? You probably have a week or so to get it done. I PBP. Please do share why the US is going to become so torn apart there will no longer be food to purchase in the supermarkets. Because we're going to try to print our way out of this mess. The dollar will drop in value. Prices will go up accordingly. The government will respond with wage and price controls. The result will be shortages. Of everything. I don't know why people laugh at the lessons of history. I laugh at people that think we're immune. When they talked about the "new economy" in the 1990's people laughed at me when I said that IT workers are the blue collar workers of the future. That the high wages would attract more people to the field, technology would more easily facilitate outsourcing, and the resulting over-supply of IT workers combined with less need for US-based IT workers would eventually lead to a correction in the wages for IT personnel...and lo and behold if that didn't happen exactly like I said it would. I missed the housing bubble. I simply was too close to the trees to notice the forest on that one. But having become aware of it, I now listen to people like Peter Schiff-- who saw the whole thing and called it years in advance. Here's what Peter has to say: finance.yahoo.com/blogs/breakout/double-dip-recession-more-depression-says-peter-schiff-124843251.htmlI laughed at people like Peter once. I'm not laughing right now- you shouldn't be, either.
|
|
|
Post by BeenThere...DoneThat... on Aug 4, 2011 14:52:59 GMT -5
...so, should POTUS re-cancel his re-rescheduled birthday bash now?
|
|
|
Post by BeenThere...DoneThat... on Aug 4, 2011 14:54:28 GMT -5
...so, should POTUS re-cancel his re-rescheduled birthday bash now?
|
|
Don Perignon
Senior Member
Joined: Aug 2, 2011 18:46:42 GMT -5
Posts: 2,024
|
Post by Don Perignon on Aug 4, 2011 14:54:55 GMT -5
I speculate that the recent increase of "apocalypse" adherents, desperately clamoring for "end times", has impacted today's plunge in the market. "Self-fulfilling prophecy" and all that. Glenn Beck's "Buy GOLD!" sermons have apparently won over a lot of gullible "seekers of Truth", and their stampede away from stocks is having a dramatic effect. It only takes a small handful of panicked cattle to drive the whole herd over the cliff.
|
|
floridayankee
Junior Associate
If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
Joined: Dec 20, 2010 14:56:05 GMT -5
Posts: 7,461
|
Post by floridayankee on Aug 4, 2011 14:56:33 GMT -5
There was a guy on from some national farming industry group last night on the Lehrer News Hour going over problems in the farming industry regarding irrigation, and that they are expecting very poor harvests this year. I'm going to BTDT's house. Seems they always have a fresh batch of popcorn going on over there.
|
|
nalto
Familiar Member
Joined: Dec 21, 2010 15:31:54 GMT -5
Posts: 777
|
Post by nalto on Aug 4, 2011 14:56:38 GMT -5
...so, should POTUS re-cancel his re-rescheduled birthday bash now? Nah, he can just serve peas.
|
|
|
Post by BeenThere...DoneThat... on Aug 4, 2011 14:58:02 GMT -5
...cheap, and fills the tummy... but you better call first... you might be dropped at 300yrds, otherwise...
|
|
floridayankee
Junior Associate
If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
Joined: Dec 20, 2010 14:56:05 GMT -5
Posts: 7,461
|
Post by floridayankee on Aug 4, 2011 14:59:00 GMT -5
Glenn Beck's "Buy GOLD!" sermons have apparently won over a lot of gullible "seekers of Truth", and their stampede away from stocks is having a dramatic effect. It only takes a small handful of panicked cattle to drive the whole herd over the cliff. One problem....The gold stampede was going on while the market was increasing.
|
|
|
Post by jarhead1976 on Aug 4, 2011 15:00:16 GMT -5
VIX up 34%
|
|
floridayankee
Junior Associate
If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
Joined: Dec 20, 2010 14:56:05 GMT -5
Posts: 7,461
|
Post by floridayankee on Aug 4, 2011 15:04:27 GMT -5
...cheap, and fills the tummy... but you better call first... you might be dropped at 300yrds, otherwise... Got it....call first.
|
|
Angel!
Senior Associate
Politics Admin
Joined: Dec 20, 2010 11:44:08 GMT -5
Posts: 10,722
|
Post by Angel! on Aug 4, 2011 15:08:26 GMT -5
Because we're going to try to print our way out of this mess. The dollar will drop in value. Prices will go up accordingly. The government will respond with wage and price controls. The result will be shortages. Of everything. I need this explained further. I understand how the dollar will impact imported items - TVs, cars. Obviously the prices on those will rise. But, why will the price on local lettuce or beef rise (at least significantly - obviously it will rise some due to gas prices & such, like it did a few years ago)? Why would there then be a resulting beef & lettuce shortage? Those farmers aren't going to stop producing those items & they need to sell them or else they take a loss. And how is all this going to occur within ~1 week? Is IT really a blue collar field now? My bro is IT & makes more money than most professional engineers I know & is in great demand. Maybe he is an elite IT guy though , although that would be extra impressive since he never even graduated college.
|
|
EVT1
Junior Associate
Joined: Dec 30, 2010 16:22:42 GMT -5
Posts: 8,596
|
Post by EVT1 on Aug 4, 2011 15:12:40 GMT -5
Always suspicious of the doomsayers hawking gold and silver- neither of which would be worth squat in a real meltdown. Think I'm gonna trade you some steak for a gold earring?
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:16:00 GMT -5
I need this explained further. I understand how the dollar will impact imported items - TVs, cars. Obviously the prices on those will rise. But, why will the price on local lettuce or beef rise (at least significantly - obviously it will rise some due to gas prices & such, like it did a few years ago)? Why would there then be a resulting beef & lettuce shortage? Those farmers aren't going to stop producing those items & they need to sell them or else they take a loss. And how is all this going to occur within ~1 week?
All those items are priced in the world commodity markets where everything is priced in US dollars.
|
|
Don Perignon
Senior Member
Joined: Aug 2, 2011 18:46:42 GMT -5
Posts: 2,024
|
Post by Don Perignon on Aug 4, 2011 15:16:02 GMT -5
The "Congregation of the Golden Calf" seems to think that gold is edible.
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:17:26 GMT -5
Is IT really a blue collar field now? My bro is IT & makes more money than most professional engineers I know & is in great demand. Maybe he is an elite IT guy though , although that would be extra impressive since he never even graduated college.
Where firms had staffs of 30(all categories), 20 now are off shore, and 10 inhouse.
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:18:20 GMT -5
Market closed down over 500.
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:19:20 GMT -5
Can't wait to hear how this was President Bush's fault (or the republicans). After all Bush left office over 2 years ago & the Republicans only control the house.
Bush really was out of office after the 2006 elections when the dems took control of both houses. So it really has been six years since he was in office.
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Aug 4, 2011 15:25:17 GMT -5
So... what now? What will tomorrow bring? I want to know the ending, dammit!
|
|
Angel!
Senior Associate
Politics Admin
Joined: Dec 20, 2010 11:44:08 GMT -5
Posts: 10,722
|
Post by Angel! on Aug 4, 2011 15:28:37 GMT -5
I need this explained further. I understand how the dollar will impact imported items - TVs, cars. Obviously the prices on those will rise. But, why will the price on local lettuce or beef rise (at least significantly - obviously it will rise some due to gas prices & such, like it did a few years ago)? Why would there then be a resulting beef & lettuce shortage? Those farmers aren't going to stop producing those items & they need to sell them or else they take a loss. And how is all this going to occur within ~1 week?All those items are priced in the world commodity markets where everything is priced in US dollars. Are you saying local farmers will start selling beef & lettuce overseas because they can get a higher price? That is the only way I could see there being a local shortage. I'm not trying to be difficult, honestly trying to understand the concept. Although, regardless. I don't see this shortage occuring within a week like PBP seems to be predicting. Even if we have an all-out meltdown it is going to take several months for things to completely spiral out of control.
|
|
Don Perignon
Senior Member
Joined: Aug 2, 2011 18:46:42 GMT -5
Posts: 2,024
|
Post by Don Perignon on Aug 4, 2011 15:34:20 GMT -5
Possibly the real reason for the current panic: recent surge in clamoring from the unwashed masses for government to "Tax the wealthy!". People have noted that the policy of "Tax breaks for the wealthy will create jobs!" is a dog that just won't hunt.
|
|
Angel!
Senior Associate
Politics Admin
Joined: Dec 20, 2010 11:44:08 GMT -5
Posts: 10,722
|
Post by Angel! on Aug 4, 2011 15:35:29 GMT -5
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Aug 4, 2011 15:35:41 GMT -5
I am really torn. I am in it (or at least I tell myself I'm in it) for the long run, but I don't want to look back a week or a month from now and think "Damn, I should have sold when it started getting bad." Ugh. Decisions!
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:38:27 GMT -5
No, a more likely reason is that the recent political theater unnerved the bond markets and the stock market by extension. It will be interesting to see what happens to the prices of corporate, junk and mortgage backed bonds, especially long-term bonds.
Well Treasuries are rallying. The 10 year yield has fallen well over 50 basis points in roughly one week.
|
|
|
Post by Savoir Faire-Demogague in NJ on Aug 4, 2011 15:42:40 GMT -5
Are you saying local farmers will start selling beef & lettuce overseas because they can get a higher price? That is the only way I could see there being a local shortage.
I'm not trying to be difficult, honestly trying to understand the concept.
Commodities are sold/priced on world markets. The US $ is the world reserve currency. Global trade takes place in US $. With the dollar falling due to trillions of new currency on the market(ie: QE1, & QE2, plus more borrowing), the value falls causing adjustments in the exchange rates.
|
|
|
Post by privateinvestor on Aug 4, 2011 16:08:37 GMT -5
DIJA Down over 400; Debt up $239B - tops 100%
Down over 500pts today but those who invested in Treasuries which i have been preaching about for the past few years are doing very good.....the long bond was a big gainer today
|
|
jkapp
Junior Associate
Joined: Dec 23, 2010 12:05:08 GMT -5
Posts: 5,416
|
Post by jkapp on Aug 4, 2011 16:46:06 GMT -5
I could care less if the DJIA falls 4000. If all else fails I have some land in the hills with food living on it, plenty of guns and ammo, and neighbors all around that don't take kindly to strangers. 100% off the grid. Not worried though- the economy will be fine. And so will the earth...so stop the global warming alarmist terrorism
|
|
wyouser
Senior Associate
Joined: Dec 20, 2010 16:35:20 GMT -5
Posts: 12,126
|
Post by wyouser on Aug 4, 2011 16:55:52 GMT -5
anybody remember the poll or question about where the market would go in 2011? I cant remember if that was before to rollover to proboards or it was still on MSN. I think the choices were up, down or sideways at that time. Anybody making any predictions for the rest of 2011?
|
|
EVT1
Junior Associate
Joined: Dec 30, 2010 16:22:42 GMT -5
Posts: 8,596
|
Post by EVT1 on Aug 4, 2011 18:07:04 GMT -5
And so will the earth...so stop the global warming alarmist terrorism I refuse to shit on future generations because it is economically convenient. Why not stop the financial terrorism? It's already done more damage to the economy than a little pollution control will ever do.
|
|