Riots in Hong Kong after heavy stock losses

[BankruptPinoy]

http://www.rte.ie/news/2008/1008/hongkong.html

[JRScott]

It might come here to the US too, they've thrown a lot of money at it and its not help much .

[BigJohn]

I got a feeling we are in the Great World Depression.

[JRScott]

Well if it is another Great Depression.

The stock market fall in 29 caused the DOW to lose 36 years worth of gains. Which if that happened today in the end we'd go back to around 1972 and the DOW would be 1000.

The good news is it only took it 22 years to recover.

[chloe0724]

We're getting closer and closer to 1000 every day. Dropped almost 700 just today.

[banca rotta]

I'm staying very calm. In just 3 weeks Obama will be elected and everything will be ok.

[JRScott]

I hope you don't really believe that , it doesn't matter if its Obama or McCain they simply can't 'fix' this. The fix is that as Americans we have to learn to live within our means, the collapse of our banking system both in the 1870s and 1930s was caused by us trying to live beyond our means.

[banca rotta]

I hope you don't really believe that , it doesn't matter if its Obama or McCain they simply can't 'fix' this. The fix is that as Americans we have to learn to live within our means, the collapse of our banking system both in the 1870s and 1930s was caused by us trying to live beyond our means.

Of course not. There are those good but uninformed people with their favorite candidate's bumper sticker that really do believe it the way I said it.

[Tbornetun]

lol, I wasn't going to comment when you initially said it. I thought "Whoa, I am not touching that one" I refuse to be involved in ANY political debate this election. It is not worth wasting breath on.

[Pizza]

It's absolute panic, total chaos. People are watching their 401(k) evaporate into thin air in a matter of days; they in turn want to yank out what's left before they have nothing. Fear feeding more fear, losses feeding further losses... it's just plain scary!

[JRScott]

Considering withdrawal penalties it might not help to withdraw the funds. It is a concern for those who were planning to retire in the next 10 years I think, if you are farther than that probably better to leave it alone and let it rebuild.

[epiphany]

Well if it is another Great Depression.

The stock market fall in 29 caused the DOW to lose 36 years worth of gains. Which if that happened today in the end we'd go back to around 1972 and the DOW would be 1000.

The good news is it only took it 22 years to recover.

On the bright side, 1972 was a very good year. A happier time, IMO.

ep

[epiphany]

I hope you don't really believe that , it doesn't matter if its Obama or McCain they simply can't 'fix' this. The fix is that as Americans we have to learn to live within our means, the collapse of our banking system both in the 1870s and 1930s was caused by us trying to live beyond our means.

I never thought I would say this but I am glad I BK'd when I did. I should be discharged later this month and I have learned my lesson about living within my means.

I believe that I have aquired the tools already to get through this mess and I am grateful that the learning process will not have to take place in the upcoming age of confusion.

All I can say about that is Wow....things are getting really tough and I feel for everyone.


ep

[chloe0724]

I am also gald I bks when I did. I just hope and pray that I keep my job.

[HRx]

Capitalism is what caused the economy to collapse...and all the actions the government "didn't" take also perpetuated all this mess.