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  • Market Crash??

    Ok so my dad comes back into town from work last night and begins to tell me about how he believes that the stock market is going to crash hard and fast before the end of this year. Now keep in mind that he is the type of person that does not buy into conspiracy theories or any of that stuff, but he seems to be convinced about this enough that he was shopping around for "off the grid" electrical power sources on the web. He says when it happens he is expecting to see the dollar fall to about 1/2 to 1/3 of what its worth now and hes doing stuff with all his investments. So that being said its got me kinda worried. Anyone else hear anything about this? I know that the house market in Miami is pretty much falling through the floor and all.

  • #2
    Re: Market Crash??

    Well, thankfully for me, if the stock market does crash and send us into another depression, I'll be in colorado. Seeing as I own land in the mountains and I have survival training and lots of hunting experience, I'll just go be a mountain man, probably the only mountain man with medical training. :D

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    • #3
      Re: Market Crash??

      Originally posted by Ferris Bueller View Post
      Well, thankfully for me, if the stock market does crash and send us into another depression, I'll be in colorado. Seeing as I own land in the mountains and I have survival training and lots of hunting experience, I'll just go be a mountain man, probably the only mountain man with medical training. :D
      This is my plan too although I live in a major city now and see no move in the near future.. I fear I may be in for the thick of it. I'm quite sure this will lead to martial law, considering social breakdown due to economic collapse is one of the circumstances which merits it according to the continuity of government executive orders. (has nothing to do with conspiracies, you can read it yourself)

      I suggest he invest in gold and commodities as well as building up a supply of food for at least a few months for however many people are in your family. Also plan to have some to care for your neighbors. As unfair as that may sound to you when people are angry and willing to steal or even kill for food and basic necessities you have to be prepared to help them out too. Not everyone mind you, but at least have some reserves. I also suggest you arm yourselves and have a meaningful supply of ammunition. Don't advertise what you have stored to people or even that you're prepared. It will make you a target later on.

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      • #4
        Re: Market Crash??

        I'll be at MSU campus when this happens, there'll be plenty of squirrels for sustenance.

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        • #5
          Re: Market Crash??

          This isn't a conspiracy theory as much as a Chicken Little story.

          There's more evidence that the market is increasing but stagnant than there is of a market crash. Just go to Wal-Mart, people's baskets are full of crap, not food. Grand Theft Auto made $500 million its first week, it cost as much as a tank of gas that week. The news business is suffering from the Internet, and looks for ways to grab your attention, and the news peoples' perspective centers around where the news people live, Los Angeles and New York, which are places that operate in completely different ways than the rest of the nation.

          You mentioned the fallen dollar. With the dollar this low, foreign nations are looking at American goods and services and see a bargain.

          He's cashing in on his investments?? Bad timing! Should have done that two or three years ago. Now's the time to BUY real estate and stocks, they're down! I hope he's not cashing in his retirement plans like many I've seen this last month.

          Spend less than you make. Pay off your debts. Pay off your mortgage. Build wealth. Have a long-term plan. Don't buy the latest news fad. Poor and middle-class people ask how-much-down-and-how-much-a-month, rich people just ask how much, if they can't afford it, tough.
          -- Shroom
          I tried smoking mushrooms once. Couldn't keep the pizza lit.

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          • #6
            Re: Market Crash??

            Originally posted by shroompicker View Post
            This isn't a conspiracy theory as much as a Chicken Little story.

            There's more evidence that the market is increasing but stagnant than there is of a market crash. Just go to Wal-Mart, people's baskets are full of crap, not food. Grand Theft Auto made $500 million its first week, it cost as much as a tank of gas that week. The news business is suffering from the Internet, and looks for ways to grab your attention, and the news peoples' perspective centers around where the news people live, Los Angeles and New York, which are places that operate in completely different ways than the rest of the nation.

            You mentioned the fallen dollar. With the dollar this low, foreign nations are looking at American goods and services and see a bargain.

            He's cashing in on his investments?? Bad timing! Should have done that two or three years ago. Now's the time to BUY real estate and stocks, they're down! I hope he's not cashing in his retirement plans like many I've seen this last month.

            Spend less than you make. Pay off your debts. Pay off your mortgage. Build wealth. Have a long-term plan. Don't buy the latest news fad. Poor and middle-class people ask how-much-down-and-how-much-a-month, rich people just ask how much, if they can't afford it, tough.

            Alot more foreign companys are going to start investing in manufacturing in the USA because of the low dollar. Plenty of "domestic" companies are already starting to come back. VW and another foreign auto maker has already stated they are going to build some plants in the US because its cheaper here now. Which is great for us. Economist can speculate all they want but they no real clue as to what the market is going to do.

            There was a figure i seen on TV last week that 2 years ago it cost about 2k to ship a cargo container full of goods from china to LA, no its close to 7-8k per container because of fuel and the dollar being so low. This is causing companies to invest that money in more skilled labor.

            The only reason our market would crash is if China calls in all the loans we have. If they start demanding payment on old loans, we are screwed.
            that sounds like a good idea trooper.
            -Vulcan

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            • #7
              Re: Market Crash??

              If they do that - then we just stop buying from them. then THEY get screwed x10. America still consumes 75% of the world's resources. If we stopped buying China's crap, the whole country would collapse. As would India, Japan, Korea, and Malaysia. You think Europe is going to buy 40 million McDonalds toys for $.50 each? You think Russia's booming Wal-marts are calling for 27 billion a year worth of useless crap? China's economy is based on selling us crap. they purposefully undervalue the yuan to discourage imports and make exports more enticing.
              Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. -Albert Einstein
              The two most common elements in the universe are Hydrogen and stupidity. -Harlan Ellison

              If all else fails: "rm -rf /"

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              • #8
                Re: Market Crash??

                Not overly concerned, yes the economy sucks right now, but in time things will change...

                ~ Draken

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                • #9
                  Re: Market Crash??

                  I have no clue why anyone thinks that a market crash would be cause for the electricity getting shut off, Mad Max scenarios, or any of that nonsense.

                  The market crashed 30% in one day back in 1988. And yet we endured!

                  Inflation was in double digits, interest rates at 18% back in the 1970s.

                  So many people are so negative right now that it's probably a great time to buy. Leejo can verify that this is the first time I've made such a statement in the past six months!
                  Last edited by Nikolas; 07-13-2008, 04:50 AM.
                  A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                  "$250,000 a year won't get me to Central Park West."

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                  • #10
                    Re: Market Crash??

                    Yep. Maybe nudge a put option right up against your long stocks just in case, but when all y'all suckers emerge from your cabins I'll be the guy in the purple fur coat making his '72 Cutlass BOUNCE bitches! I might even pay some fool to figure out how to turn "Irregardless" into a personalized plate. IRRGDLS? IREGRDLS? Who knows, With GE at $25 and BAC paying 11% dividend yields in five years I'll have a car for each version of the plates I intend to collect and enough Cristal for all my ladies. Thank God Almighty! Finally at last things are cheap and I have cash.

                    Joseph Kennedy famously sold off before the depression when the guy shining his shoes started offering stock tips. I think the opposite may be true when folks start talking about generating their own electricity because the stock market is so bad - as bad as it's ever been since 2 years ago!!! 2 YEARS!!! AAAAAAAAA

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                    • #11
                      Re: Market Crash??

                      I will swim the Rio Grande and sell oranges on the side of the road.

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                      • #12
                        Re: Market Crash??

                        I dont think hes thinking that the electricity will be shut off, that I seriously doubt. I think what he feels is that if it happens the way he is expecting then its going to get very expensive. And with everything else that will go up as well, thats just one more way to save money and stay on top. I myself and making an investment in ammo- several cases of it lol before it goes up some more. We already see prices of ammo going up regardless, so I might as well stock up now while I can afford it.

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                        • #13
                          Re: Market Crash??

                          Originally posted by Hambergler View Post
                          I will swim the Rio Grande and sell oranges on the side of the road.
                          Mmmm. Quite.

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                          • #14
                            Re: Market Crash??

                            Well, if Freddie and Fannie go down in flames, we'll see what happens. After Bernake's public execution, that is. Luckily, I have a cabin in the Catskills and several in-laws who hunt bear. Ever had bear? Tough, but tasty.

                            Until then, I still plan on going to work tomorrow.
                            In game handle: Steel Scion
                            sigpic

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                            • #15
                              Re: Market Crash??

                              Originally posted by Steeler View Post
                              Well, if Freddie and Fannie go down in flames, we'll see what happens. After Bernake's public execution, that is. Luckily, I have a cabin in the Catskills and several in-laws who hunt bear. Ever had bear? Tough, but tasty.

                              Until then, I still plan on going to work tomorrow.


                              Thats kind of my stance. I go to work and support the family until its no longer available to do so. All of my cash assets are perfectly capable of keeping us afloat until things get back on track if they do fall apart.

                              I have some connections i can call upon for survival if needed. And yes bear is great if cooked right and served with a big Alaskan baked potato. Moose is even better.
                              that sounds like a good idea trooper.
                              -Vulcan

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