Home Distiller

Seems the much anticipated (American) economic meltdown has started.
The US govnt said they woulnt help Lehman Bros, but now that AIG stock fell to 5 % of it's value in a few days, they will inject money. Just checked yahoo, it seems stock values plunged for a number of big companies too....

Let's see how far the shock wave goes this time.

PS: I dont have any retirement plan so i'm unaffected !!!

Buy from the scared and sell to the greedy! It is the time to start being greedy.

There are many contributing factors to the problems though. I know just enough about economics to be dangerous, it's not taught in our schools any more other than the lie that money comes from the government and belongs to the government. One contributing factor is inept government oversight organizations, big shock, and the fact that financial institutions have been forced to give home loans to people who couldn't afford them. Now the same agents who made this happen are standing around pointing their fingers of blame at the private lending institutions and calling it "predatory lending".

However, no matter where the chips fall we always come back from the ashes, like a phoenix, come to think about it that should have been our national bird.

I may very well be in denial, but I don't think it's nearly as bad as the media makes it out to be. Good news never sells as well as bad and God knows that's one of the only 2 perogatives of the national news media outlets.

Comes real close to pushing the boundaries of 'no posting of political issues'.
I will say it started more than 8 years ago though.

Hawke wrote:Comes real close to pushing the boundaries of 'no posting of political issues'.

Depends on how you look at it. I'm no Moderator but I think as long as we don't get too specific and mind our manners it'll be ok. So far it's just a mention of the facts or the obvious.

It's alot like our mutual hobby, if you get complacent and stop paying close attention to it...Kaboom. That's with anything.

I'm reasonably young, but know a little about markets.

All I can say is I feel sorry for all those who were looking to retire... That just had there life savings scraped down to almost nothing!

I shan't comment.

Just checked yahoo

The great Yahoo has spoken

trthskr4 wrote: One contributing factor is inept government oversight organizations, big shock, and the fact that financial institutions have been forced to give home loans to people who couldn't afford them.

Forced ? how is that so ?

Chicken without head is still runnning !:
http://biz.yahoo.com/ap/080919/world_markets.html" onclick="window.open(this.href);return false;" rel="nofollow