# you might leave work today to go home to a different world.. **URL:** \ **Category:** PittSpeed Off Topic\ **Created:** [October 10, 2008, 5:30am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078 "2008-10-10T05:30:47Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [October 10, 2008, 5:30am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/1 "2008-10-10T05:30:47Z")
dow down to a 5 year low. about a dozen other markets had to close because they dropped over 10% japan closed down close to 10%. and there isn’t really all that much there is that they can do about it. dow is already down 250pts and the market doesn’t even open for an hour. it would not surprise me to see the dow drop over a thousand points. not good. but Bush is planning a press conference at 10:20 so im sure he will have a brilliant plan to turn this around. ---
**Author:** ![whitey](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/whitey/32/5911_2.png) [@whitey](https://forums.speedlife.net/u/whitey)\ **Post date:** [October 10, 2008, 5:35am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/2 "2008-10-10T05:35:17Z")
buy low! Where is the problem? ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [October 10, 2008, 5:39am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/3 "2008-10-10T05:39:52Z")
> [@i can't believe theres no posts about the SNOW](https://forums.speedlife.net/t/i-cant-believe-theres-no-posts-about-the-snow/38293/14): > > buy low! Where is the problem? hard to do if your company can’t afford to pay you and if they can the money you get is worth less than the paper its printed on. ---
**Author:** ![imported\_gearhead](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/imported_gearhead/32/5957_2.png) [@imported\_gearhead](https://forums.speedlife.net/u/imported_gearhead)\ **Post date:** [October 10, 2008, 5:40am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/4 "2008-10-10T05:40:35Z")
I wish i knew more about how all this works… what actions take place to drop the market so bad? ---
**Author:** ![Quik83Z](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/quik83z/32/6042_2.png) [@Quik83Z](https://forums.speedlife.net/u/Quik83Z)\ **Post date:** [October 10, 2008, 5:43am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/5 "2008-10-10T05:43:42Z")
Great Depression II on the way? ---
**Author:** ![whitey](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/whitey/32/5911_2.png) [@whitey](https://forums.speedlife.net/u/whitey)\ **Post date:** [October 10, 2008, 5:46am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/6 "2008-10-10T05:46:10Z")
> [@i can't believe theres no posts about the SNOW](https://forums.speedlife.net/t/i-cant-believe-theres-no-posts-about-the-snow/38293/15): > > hard to do if your company can’t afford to pay you and if they can the money you get is worth less than the paper its printed on. Got paid today, buy stock on the low low. private company \> \* > [@FS: ps2 + games](https://forums.speedlife.net/t/fs-ps2-games/38208/15): > > Great Depression II on the way? Depression probably not, recession yes. ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [October 10, 2008, 5:54am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/7 "2008-10-10T05:54:08Z")
> [@i can't believe theres no posts about the SNOW](https://forums.speedlife.net/t/i-cant-believe-theres-no-posts-about-the-snow/38293/16): > > I wish i knew more about how all this works… what actions take place to drop the market so bad? banks lend 30x what they actually have in their vaults to people to buy houses even if they don’t have a damn job. housing market finally starts to correct itself and home values slump. everyone tries to get out at the same time and make it even worse. now people start defaulting on their mortgages. banks don’t have enough to cover the loans. huge firms fail, everyone freaks out and tries to sell off their stocks, which drives the market down. or at least that’s all the more I want to thype on this damn cell phone keyboard… 😉 > [@DVD Shrink....](https://forums.speedlife.net/t/dvd-shrink/38247/7): > > Got paid today, buy stock on the low low. private company \> \* > > Depression probably not, recession yes. eh I would be really careful what you put your cash into. ford and chevy might be good buys with them being as low as they are. might want to wait until their credit rating b.s. is over though. Or if you listened to that crazy fucker ron paul and bought a bunch of gold a year ago you’d be in REAL good shape right now. > [@FS: ps2 + games](https://forums.speedlife.net/t/fs-ps2-games/38208/15): > > Great Depression II on the way? naw. will get pretty shaky for the next 6months. if we would do like dr. paul says and return to sound fiscal policy, get rid of the fed; move back to a gold standard, and do a SERIOUS downsizing of the govt and its budget. also gas prices are going to tank as well which will be huge for Joe Six-Pack. dow jones down 361 now. 25 min to opening bell… :hsugh: ---
**Author:** ![Shaggy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/shaggy/32/5945_2.png) [@Shaggy](https://forums.speedlife.net/u/Shaggy)\ **Post date:** [October 10, 2008, 6:07am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/8 "2008-10-10T06:07:14Z")
warren Buffett emphasized the non-productive aspect of gold in 1998 at Harvard: “It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” In 1977 Buffett was also quoted as saying about stocks, gold, farmland and inflation: "stocks are probably still the best of all the poor alternatives in an era of inflation - at least they are if you buy in at appropriate prices. ---
**Author:** ![Quik83Z](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/quik83z/32/6042_2.png) [@Quik83Z](https://forums.speedlife.net/u/Quik83Z)\ **Post date:** [October 10, 2008, 6:18am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/9 "2008-10-10T06:18:17Z")
> [@i can't believe theres no posts about the SNOW](https://forums.speedlife.net/t/i-cant-believe-theres-no-posts-about-the-snow/38293/20): > > naw. will get pretty shaky for the next 6months. if we would do like dr. paul says and return to sound fiscal policy, get rid of the fed; move back to a gold standard, and do a SERIOUS downsizing of the govt and its budget. Oh yeah…that’s gonna happen…not with the assholes that we keep electing… Not that we have much of a choice mind you…especially this November!! Hmmmm…asshole #1 or asshole #2…tough decision!! ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [October 10, 2008, 6:24am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/10 "2008-10-10T06:24:32Z")
> [@DVD Shrink....](https://forums.speedlife.net/t/dvd-shrink/38247/8): > > warren Buffett emphasized the non-productive aspect of gold in 1998 at Harvard: “It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” In 1977 Buffett was also quoted as saying about stocks, gold, farmland and inflation: "stocks are probably still the best of all the poor alternatives in an era of inflation - at least they are if you buy in at appropriate prices. so basing a currency on a worthless piece of paper that can be manipulated very easily makes more sense? if these banks weren’t lending out imaginary money and totally causing the housing bubble to blow up to giant proportions then we would not be in this mess. ---
**Author:** ![4doors5gears](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/4doors5gears/32/6006_2.png) [@4doors5gears](https://forums.speedlife.net/u/4doors5gears)\ **Post date:** [October 10, 2008, 6:28am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/11 "2008-10-10T06:28:00Z")
> [@i can't believe theres no posts about the SNOW](https://forums.speedlife.net/t/i-cant-believe-theres-no-posts-about-the-snow/38293/16): > > I wish i knew more about how all this works… what actions take place to drop the market so bad? Along with what Mr. Star said (which was very good), home values were also overly assessed and the market seems like it was forecasted to do a lot better than they were. The banks loaned the money out figuring that with values on the rise, even if they lessee couldn’t follow through and ended up foreclosing, the house would be worth enough that the bank would still make their money. Home values dropped and all that loaned money is gone. Someone please correct me if I’m off on this… ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [October 10, 2008, 6:40am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/12 "2008-10-10T06:40:21Z")
dow down 700 points right now. yikes. it was at 600 when I started typing this post… ---
**Author:** ![berad](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/berad/32/5953_2.png) [@berad](https://forums.speedlife.net/u/berad)\ **Post date:** [October 10, 2008, 6:41am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/13 "2008-10-10T06:41:19Z")
Poor speculation is what got us here. A newly aware populous will work us out of the hole. There is no quick fix via upcoming elected officials. ---
**Author:** ![MONTE\_SS](https://avatars.discourse-cdn.com/v4/letter/m/8797f3/32.png) [@MONTE\_SS](https://forums.speedlife.net/u/MONTE_SS)\ **Post date:** [October 10, 2008, 6:45am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/14 "2008-10-10T06:45:17Z")
844 down in the open. all main financial ins. is down. Tech’s seem to be holding. ression i say yes. I am dealing some mining, oil, and mortage INS companies. I sold Monday, needed to make sure I had my closing money… But will buy more on the dip… check out TMA, and sca, kog, vrnm. Great Day trader gainers. ---
**Author:** ![beat90tsi](https://avatars.discourse-cdn.com/v4/letter/b/43a26b/32.png) [@beat90tsi](https://forums.speedlife.net/u/beat90tsi)\ **Post date:** [October 10, 2008, 6:58am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/15 "2008-10-10T06:58:46Z")
We are more leveraged now than we were before the crash in 1929 which, for all you history buffs, took 6 years to bottom. If you consider 2001 the start of this shit, then maybe you could say we’re getting close to the bottom, but the Dow’s peak of 14,200 back in 2007 seems to tell a different story. Hold on…it may be a rough ride. ---
**Author:** ![YoungTegger](https://avatars.discourse-cdn.com/v4/letter/y/ecccb3/32.png) [@YoungTegger](https://forums.speedlife.net/u/YoungTegger)\ **Post date:** [October 10, 2008, 7:16am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/16 "2008-10-10T07:16:34Z")
I’ll be very scared if it drops below 7000, it keeps jumping down but then recovering slightly. As bad as it is, if you know what you’re doing you can make some decent money considering how low some prices are. Some of these companies are not “guranteed” to make a big rebound but at least have the backing to weather the storm. ---
**Author:** ![4doors5gears](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/4doors5gears/32/6006_2.png) [@4doors5gears](https://forums.speedlife.net/u/4doors5gears)\ **Post date:** [October 10, 2008, 7:22am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/17 "2008-10-10T07:22:09Z")
I’m trying to step my game up in investign and look to see what will be good stock to invest in for the up and up (eventually) ---
**Author:** ![Sight\_N\_Sound](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sight_n_sound/32/5950_2.png) [@Sight\_N\_Sound](https://forums.speedlife.net/u/Sight_N_Sound)\ **Post date:** [October 10, 2008, 7:54am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/18 "2008-10-10T07:54:08Z")
> [@WTB: Wood](https://forums.speedlife.net/t/wtb-wood/38280/12): > > Poor speculation is what got us here. A newly aware populous will work us out of the hole. There is no quick fix via upcoming elected officials. X2 In the mean time enjoy the free fall of oil prices while you can. ---
**Author:** ![Ymesss](https://avatars.discourse-cdn.com/v4/letter/y/ad7895/32.png) [@Ymesss](https://forums.speedlife.net/u/Ymesss)\ **Post date:** [October 10, 2008, 8:08am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/19 "2008-10-10T08:08:16Z")
I think it will take a few weeks for the dow to bottom out, but once it does i think within a few months we’ll be well over 10,000 again. I think its more speculation because the banks are freaking out compared to what the economy is really doing. The 14,200 point mark was more inflation then actually being that high economy wise. ---
**Author:** ![berad](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/berad/32/5953_2.png) [@berad](https://forums.speedlife.net/u/berad)\ **Post date:** [October 10, 2008, 10:04am UTC](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078/20 "2008-10-10T10:04:50Z")
fix the economy. legalize :shaggy: [Next page](https://forums.speedlife.net/t/you-might-leave-work-today-to-go-home-to-a-different-world/200078.md?page=2)