Dire Monday?

ninebeanrows

Tomorrow and the rest of the week could see the biggest financial disaster in history unfold as the American and thus Global Economy crumbles as the "Credit Crunch" claims numerous Bank Institutions.

What do people think, will the stock market crash tomorrow, or is the Fed going to bail it out for a few more months?

ABC are already appealing against a bank run tomorrow :eek:

anonymous_joe

We can but hope.

Kold

Links?

KnifeWRENCH

Ooh a stock market crash! Sounds fun. I missed the one in 1929 due to my non-existence.

If we watch the news tomorrow and see several Wall Street bankers leaping out of their windows then we'll assume it's happened.

Mimikyu

This post has been deleted.

brianthebard

square_igloo wrote: »

Ooh a stock market crash! Sounds fun. I missed the one in 1929 due to my non-existence.

If we watch the news tomorrow and see several Wall Street bankers leaping out of their windows then we'll assume it's happened.

there was a crash last year.the iseq lost 5% last wk.how much of a drop do you want?p.s.there were only one or two stockbrokers who jumped because of the wall st crash,it wasn't like the cartoons.

KnifeWRENCH

brianthebard wrote: »

there was a crash last year.the iseq lost 5% last wk.how much of a drop do you want?p.s.there were only one or two stockbrokers who jumped because of the wall st crash,it wasn't like the cartoons.

Meh, I dunno. 5% isn't that impresssive tbh (although that's probably billions, I have no idea how this stuff works)

And as for jumping stocbrokers, the cartoons are more ineresting than fact

SimpleSam06

Meh, they shored it up again. They can't do that indefinetely though, they'll push inflation through the roof and just make the eventual collapse worse. Note that the US goverment isn't covering the loans, just saying they will help so the market doesn't go tits up. Unfortunately this is much the same line of thinking that lead to this mess in the first place, and the US dollar isn't what it once was, so the cash to cover it literally isn't there.

Funny thing is, we're horribly more exposed to the downturn in property than the US ever was.

In any case these issues take some time to play out, the blow by blow downfall will take a long time. We won't be seeing the worst of it for three to five years.

whiskeyman

Today is gonna be the best Monday ever!
Positive thinking FFS!

Overheal

a quick wiki of stock market crashes reveals they tend to happen in quite the inverse; when a market is especially optimistic. So no I dont anticipate any crashes in the forseeable future; as we already had one with the housing market Crash: Hellooooo.

http://en.wikipedia.org/wiki/Stock_market_crash

SimpleSam06

Overheal wrote: »

a quick wiki of stock market crashes reveals they tend to happen in quite the inverse; when a market is especially optimistic.

It was though, very very optimistic. These things take a long time to play out, even the great depression happened years after the wall street crash, not months. We're in the middle of the crash right now. Get rid of your debts, people, cash is king.

Sherifu

I was expecting tales of prostitutes and pimps

LouOB

Its meant to be a warm day in Dublin with some showers

connundrum

I thought we were already in the recessions?

There's more

I was getting quite used to being 'fairly fucked'

Steve_o

connundrum wrote: »

I thought we were already in the recessions?

There's more

I was getting quite used to being 'fairly fucked'

+1

I really need to read up on how the economy works....

connundrum

Steve_o wrote: »

+1

I really need to read up on how the economy works....

Seems to be a bit like the weather.

Best to always have a spare pair of jocks and an unbrella on standby.

I presume (as previously stated) that its best to get the hell away from debt as soon as possible now. What about d'credit union? I heard they'd still be going strong even if an A Bomb hit

Steve_o

connundrum wrote: »

Seems to be a bit like the weather.

Best to always have a spare pair of jocks and an unbrella on standby.

I presume (as previously stated) that its best to get the hell away from debt as soon as possible now. What about d'credit union? I heard they'd still be going strong even if an A Bomb hit

Is that because they are owned by their members and so on...?

is_that_so

Thought this was about the weather but it's just another end of the world stock market crash thread.