2008 American Recession goes global/Stock market crashing

Respect · 10-10-2008, 12:48 AM

So um, whats going on guys? The $700 Billion dollar bailout plan first got reject for the US. Then it got accepted yet with around 50+ Billion more dollars. States are asking for help...People are pulling out their shares in stocks...We are down 9000 point in stocks. Washington Mutual banking was bought out and they're gone. The banks are getting greedy. People are pulling their money out...Credit lenders wont give credit anymore. Home forclosures and everything...It's just all bad.

Dow plunges 679 to fall to lowest level in 5 years - Yahoo! News

So how long will it stay? Are we not already a couple of months through the recession? How do we get out of it?

And my teacher told me that the 700$Billion money was spend...About $400,000 just for the gov to have a little "retreat" and throw a party with hookers and everything...Sad isnt it?

/Discuss.

~Respect

Elusive · 10-10-2008, 12:49 AM

Quote:

Originally Posted by Respect

So um, whats going on guys? The $700 Billion dollar bailout plan first got reject for the US. Then it got accepted yet with around 50+ Billion more dollars. States are asking for help...People are pulling out their shares in stocks...We are down 9000 point in stocks. Washington Mutual banking was bought out and they're gone. The banks are getting greedy. People are pulling their money out...Credit lenders wont give credit anymore. Home forclosures and everything...It's just all bad.

Dow plunges 679 to fall to lowest level in 5 years - Yahoo! News

So how long will it stay? Are we not already a couple of months through the recession? How do we get out of it?

And my teacher told me that the 700$Billion money was spend...About $400,000 just for the gov to have a little "retreat" and throw a party with hookers and everything...Sad isnt it?

/Discuss.

~Respect

Yeah United States of America is corrupt.

S3RO · 10-10-2008, 12:50 AM

Gm is down to an amazing low 4.xx, it was at about 40 a year ago.

Ford at 1.7x, so its pretty low, and they arnt in mortgage market.

In a few weeks it may be a good time to buy stocks.

Xiahou Dun · 10-10-2008, 12:50 AM

Disregarding the absolute stupidity of the claim for a second.

How can any party that costs 400 thousand be possibly described as "little".

S3RO · 10-10-2008, 12:58 AM

It was only ritz carlton. It could have been a private island and paid guest singers of Rhianna and 50 cent.

....

Bl00d · 10-10-2008, 01:18 AM

He's got it wrong... Should know what your talking bout' m8.

The CEO's of AIG spent around 400,000 for what the media calls "retreat."

Phoenix · 10-10-2008, 01:23 AM

Quite simply, banks and mortgage brokers have lent money out that they didn't have for too long, borrowing from one-another and loaning to people who never had the ability to pay it back, and now a few of them have gone bust because of this method, the ones who loaned them that now are short themselves, and thus the dominos begin to fall. It's a crippling time financially for every developed nation, and any "third world" nation that relies on products being exported to the West.

However, long-term, the housing market is lower, so first-time buyers will have a better time getting on the property ladder, globally, provided that there are mortgage companies (probably government-funded) who can lend them the money to give them that helping hand. Long-term, this benefits us all. Short term, we all struggle with the cost of day-to-day living, unemployment and increased crime rates. Right on election time, too!

There is no quick fix. Throwing money at it won't solve it. It only slows the process down. Money needs to only be given to those who have means to repay and money needs to not be borrowed from global markets and other companies, because if one fails, the rest have to compensate and we get this fiasco. Joy.

Pontius Pilate · 10-10-2008, 01:46 AM

All of this media attention is not helping the market, either.

ITS(DRUMROLL)GUIDE · 10-10-2008, 02:23 AM

Quote:

Originally Posted by Phoenix

Quite simply, banks and mortgage brokers have lent money out that they didn't have for too long, borrowing from one-another and loaning to people who never had the ability to pay it back, and now a few of them have gone bust because of this method, the ones who loaned them that now are short themselves, and thus the dominos begin to fall. It's a crippling time financially for every developed nation, and any "third world" nation that relies on products being exported to the West.

However, long-term, the housing market is lower, so first-time buyers will have a better time getting on the property ladder, globally, provided that there are mortgage companies (probably government-funded) who can lend them the money to give them that helping hand. Long-term, this benefits us all. Short term, we all struggle with the cost of day-to-day living, unemployment and increased crime rates. Right on election time, too!

There is no quick fix. Throwing money at it won't solve it. It only slows the process down. Money needs to only be given to those who have means to repay and money needs to not be borrowed from global markets and other companies, because if one fails, the rest have to compensate and we get this fiasco. Joy.

Not to mention that the more money these governments throw into the mix, the more the value of the £ and $ will drop, which is a bit counterproductive.

I disagree on the part of helping global economy in the long run. While it will rise back up eventually, this time for the economy will never be viewed as "beneficial". With housing markets the way they are there, yes new buyers will be able to buy cheaper houses. However, this does them little good if the economy continues to deflate, especially with some major mortgage companies and banks refusing loans lately in the event that people will not be able to pay.

Respect · 10-10-2008, 02:33 AM

Quote:

Originally Posted by Bl00d

He's got it wrong... Should know what your talking bout' m8.

The CEO's of AIG spent around 400,000 for what the media calls "retreat."

I'm not looking to argue with you (Just saying) I just want to know the facts. Thats what I think is happening. And i'm not too well informed about all this stuff so I made the thread to gain more information and see whats going on you know?

So what was the retreat?

Quote:

Originally Posted by Pontius Pilate

All of this media attention is not helping the market, either.

The media should stop being so negative I mean what do they gain from it. If there were more like stay strong and keep your stocks held high we will rough through it...It would be more calm...Where'as it's all like "OMG STOCK DOWN 9000 POINTS RUN RUN THEY GONE KILL YOU!"

~Respect

10-10-2008, 12:48 AM	#1 (permalink)
Respect I Am The Greatest. Join Date: Oct 2006 Location: Over there Posts: 1,753	2008 American Recession goes global/Stock market crashing So um, whats going on guys? The $700 Billion dollar bailout plan first got reject for the US. Then it got accepted yet with around 50+ Billion more dollars. States are asking for help...People are pulling out their shares in stocks...We are down 9000 point in stocks. Washington Mutual banking was bought out and they're gone. The banks are getting greedy. People are pulling their money out...Credit lenders wont give credit anymore. Home forclosures and everything...It's just all bad. Dow plunges 679 to fall to lowest level in 5 years - Yahoo! News So how long will it stay? Are we not already a couple of months through the recession? How do we get out of it? And my teacher told me that the 700$Billion money was spend...About $400,000 just for the gov to have a little "retreat" and throw a party with hookers and everything...Sad isnt it? /Discuss. ~Respect __________________ Proud owner of Acura TL Type-S 2005 ~Riding Shotgun With AFO Since 2006~

10-10-2008, 12:50 AM	#3 (permalink)
S3RO Winds of Change Join Date: Feb 2007 Location: North Carolina Posts: 9,143	Gm is down to an amazing low 4.xx, it was at about 40 a year ago. Ford at 1.7x, so its pretty low, and they arnt in mortgage market. In a few weeks it may be a good time to buy stocks. __________________ Hope is the dream of a soul awake - French Proverb

10-10-2008, 12:50 AM	#4 (permalink)
Xiahou Dun The voice of (t)reason Join Date: Dec 2006 Location: England Somerset Taunton Posts: 7,416	Disregarding the absolute stupidity of the claim for a second. How can any party that costs 400 thousand be possibly described as "little". __________________ Cold as ice cream, but still as sweet.

10-10-2008, 12:58 AM	#5 (permalink)
S3RO Winds of Change Join Date: Feb 2007 Location: North Carolina Posts: 9,143	It was only ritz carlton. It could have been a private island and paid guest singers of Rhianna and 50 cent. .... __________________ Hope is the dream of a soul awake - French Proverb

10-10-2008, 01:23 AM	#7 (permalink)
Phoenix Want Mayo With That? Join Date: Jul 2005 Location: Leeds, England Posts: 14,233	Quite simply, banks and mortgage brokers have lent money out that they didn't have for too long, borrowing from one-another and loaning to people who never had the ability to pay it back, and now a few of them have gone bust because of this method, the ones who loaned them that now are short themselves, and thus the dominos begin to fall. It's a crippling time financially for every developed nation, and any "third world" nation that relies on products being exported to the West. However, long-term, the housing market is lower, so first-time buyers will have a better time getting on the property ladder, globally, provided that there are mortgage companies (probably government-funded) who can lend them the money to give them that helping hand. Long-term, this benefits us all. Short term, we all struggle with the cost of day-to-day living, unemployment and increased crime rates. Right on election time, too! There is no quick fix. Throwing money at it won't solve it. It only slows the process down. Money needs to only be given to those who have means to repay and money needs to not be borrowed from global markets and other companies, because if one fails, the rest have to compensate and we get this fiasco. Joy. __________________ >CLICKY< Brett Favre doesn't look very comfortable. Maybe he needs his Wranglers?

10-10-2008, 01:18 AM	#6 (permalink)
Bl00d Reprimanded 3 Join Date: Jun 2006 Posts: 2,100	He's got it wrong... Should know what your talking bout' m8. The CEO's of AIG spent around 400,000 for what the media calls "retreat."

10-10-2008, 01:46 AM	#8 (permalink)
Pontius Pilate Up, polite saint. Join Date: Dec 2006 Location: It's all in my head... Posts: 764	All of this media attention is not helping the market, either. __________________ Second attempt at PDN...

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