Enough!!!!! (2009, credit, debt, mortgage)

[Movie Lover]

Its time for the media to keep their mouths shut about the economy and stop scaremongering and its time for the people to realisticially and slowly come back into the real world of actual money and not spend the numbers on a computer screen that don't actually exist until it comes out of the ATM. I am severely stressed by this and I won't forget all you mortage defaulters and credit eaters who can't repay their cards. You want a revolution, look at what LAPD77 says about Feb 2009 - US, Mexico and Canada merge into one country after collapses. Even one money analyst said that the USA is "selling itelf up the river". Your spending now like your on fire, whats left for the future - kids and grandkids - not much, maybe anarchy. Maybe it is the end of the US, as now the countrys "fate goal" might be acheived - Obama, the first African American President.

[analyticalkeys]

Isn't fear-mongering the job of the media? When do you ever hear good news on TV or in the paper?

[Wild Style]

Originally Posted by Movie Lover

Its time for the media to keep their mouths shut about the economy and stop scaremongering and its time for the people to realisticially and slowly come back into the real world of actual money and not spend the numbers on a computer screen that don't actually exist until it comes out of the ATM. I am severely stressed by this and I won't forget all you mortage defaulters and credit eaters who can't repay their cards. You want a revolution, look at what LAPD77 says about Feb 2009 - US, Mexico and Canada merge into one country after collapses. Even one money analyst said that the USA is "selling itelf up the river". Your spending now like your on fire, whats left for the future - kids and grandkids - not much, maybe anarchy. Maybe it is the end of the US, as now the countrys "fate goal" might be acheived - Obama, the first African American President.

great point. Let people remain ignornat about whats going on around them. Let people go into the next election dumb as eff. Great points.

[lchoro]

Maybe it is the end of the US, as now the countrys "fate goal" might be acheived - Obama, the first African American President.

This speaks loud and clear as to the motivations of the first poster.

[shibainu]

Originally Posted by Movie Lover

Its time for the media to keep their mouths shut about the economy and stop scaremongering and its time for the people to realisticially and slowly come back into the real world of actual money and not spend the numbers on a computer screen that don't actually exist until it comes out of the ATM. I am severely stressed by this and I won't forget all you mortage defaulters and credit eaters who can't repay their cards. You want a revolution, look at what LAPD77 says about Feb 2009 - US, Mexico and Canada merge into one country after collapses. Even one money analyst said that the USA is "selling itelf up the river". Your spending now like your on fire, whats left for the future - kids and grandkids - not much, maybe anarchy. Maybe it is the end of the US, as now the countrys "fate goal" might be acheived - Obama, the first African American President.

The Media is actually telling people not to run on the banks and your money is safe...The economy is collapsing because it is weak. We are heading to a depression era and it could have been avoided if we learned to stop consumerism and moved to some other type of economy that could sustain growth with out using huge amounts of Debt.

[Alt Dach]

Originally Posted by shibainu

The Media is actually telling people not to run on the banks and your money is safe...The economy is collapsing because it is weak. We are heading to a depression era and it could have been avoided if we learned to stop consumerism and moved to some other type of economy that could sustain growth with out using huge amounts of Debt.

A good deal of truth in that !
However the fact that US held derivates.of which sub-primes are a tiny part, exceed the amount of money in the ENTIRE world, much less the US-
is what makes collapse certain.

[Alt Dach]

Originally Posted by lchoro

This speaks loud and clear as to the motivations of the first poster.

Not necessarily, multipule motivations can be ascribed.

[harry chickpea]

Originally Posted by Movie Lover

Its time for the media to keep their mouths shut about the economy and stop scaremongering and its time for the people to realisticially and slowly come back into the real world of actual money and not spend the numbers on a computer screen that don't actually exist until it comes out of the ATM. I am severely stressed by this and I won't forget all you mortage defaulters and credit eaters who can't repay their cards. You want a revolution, look at what LAPD77 says about Feb 2009 - US, Mexico and Canada merge into one country after collapses. Even one money analyst said that the USA is "selling itelf up the river". Your spending now like your on fire, whats left for the future - kids and grandkids - not much, maybe anarchy. Maybe it is the end of the US, as now the countrys "fate goal" might be acheived - Obama, the first African American President.

Step away from the coffee cup. We don't want anyone to get hurt here. A lot of people are stressed, particularly those who didn't see this coming and take evasive action.

The media has little effect on the giant institutional traders. They simply don't have the time to fool with the comic books that pass for tv and newspapers today.

While grandstanding a bit, this article in the Post gives a bit of insider view that most lay people can understand:
ALMOST ARMAGEDDON - New York Post

However bad the media, the average Joe does have to be informed of what is occurring so that he can move to protect himself in some small way. There have been a number of near misses in this financial meltdown since November. Each time the response has become more Draconian, and each escape from disaster narrower.

I found the DOW 8300 level in the Post to be interesting, since I have two levels that I think could be critical. The 10,000 mark is the first support level that I see. A fall to there and stabilization would be a best case scenario, but it looks increasingly unlikely. A fall to the 7,000 level would be the midrange scenario, and indicate an evaporation of a lot of the derivative related inflation and a much more solid restart point. Anything below that would be cause for a total clamp on trading and complete revision of the market. I'm not saying it would be right, or the decisions to make changes be the correct ones or even palatable, just that a drop that low would invoke choking actions by Congress.

There are subtleties, such as AIG being replaced on the DOW with a much more stable firm, propping up the DOW a little bit, and inflation and the effects of devalued currency increasingly affecting the figures, but the phantom wealth has to evaporate back into the ether.

There is no way to roll back the clock so that all ill-begotten gains can be returned to rightful owners. At this point, the only revenge of the little man is to push for punitive taxation and a special tax class for failing CEOs that takes 110% of those golden parachutes.

[Movie Lover]

America, I loved you. Now all I know you for is the start of all this. Remember your mortgage defaultations?

[Wild Style]

Originally Posted by Movie Lover

America, I loved you. Now all I know you for is the start of all this. Remember your mortgage defaultations?

You don't live America anymore becomes times are hard? May your days be filled with pot holes and speeding tickets!