Egad the stock market took a beating today, Dow -238 to 11,145

[The_Casual_Observer]

A few more of these & we will be back to 10,500 - almost 8 years ago.

[skooooo]

1. Damn no kidding

That's a big drop.

[SpiralHawk]

2. The putric fruit of republiconomics

[Deja Q]

9. Wow. At first glance I thought that was a meerkat's butt.

[EconomyCollapsesInUS]

3. Time To Buy!!!

Tomorrow on CNBC...."Is This The Bottom? Is NOW The Time To Buy Stocks?"

Next week on CNBC....."Is This The Bottom?......"

Next month on CNBC.....:Is This The Bottom?......"

Coming in 2009....."Is This The Bottom For Housing & Financials?"

[Hydra]

4. Welcome to DU!

You summed up well what I said a few days ago- what happens if there IS no bottom?

[EconomyCollapsesInUS]

7. There IS A Bottom

It just may be Years & Years before we reach it. But there is definitely a bottom.

Only if you listen to CNBC will the bottom appear to be just around the corner. When in reality, it's around the corner, and about 2,000 miles down the street.

[Hydra]

8. I agree with that

But it occurred to me watching this train wreck that the people in charge are deliberately devaluing the dollar for the purpose of devaluing our debts.

Would the term "bottomless" apply if the dollar becomes functionally worthless?

[EconomyCollapsesInUS]

10. I Can't Imagine It Would Ever Become "Worthless"

Probably, and almost definitely, Worth Less, but they're not going to allow it to be devalued completely.

But then again, what the fuck do I know. I can't think like a CORRUPT CRIMINAL, so I have no idea what they have planned.

But if this country becomes Zimbabwe, will it still be worth living here? Will I be able to take my Gold & Euros, and get out before it's too late?

[Radio_Lady]

14. Somebody pointed out that in a Great Depression, bread is worth more than gold.

I can't remember the DUer who posted that.

My father was born in 1911, and he remembers his father selling apples on the street for 5 cents. The father was in the milk, eggs, and cheese market, so they were able to eat.

[EconomyCollapsesInUS]

16. .....

I thought the reason for that, was the Government fixed the price of Gold at a low amount, and then Confiscated All The Gold.

So, if you're saying that the Government could crash the price of Gold to say, $250, and then confiscates it for that amount, then I think this is something which would fit in exactly with the Dictatorship this country has become, and will continue to become, whether it's under a Democrat or a Republic.

[The_Casual_Observer]

12. Zero is as good a guess as any what the bottom is for this thing.

[Renew Deal]

15. Beating the bear!!!

[mmonk]

5. It's a bear.

[Radio_Lady]

6. Scary for everybody. We're on the sidelines -- retired -- house didn't sell --

can't downsize -- legitimate builder of our possible "new" house is in Chapter 11 bankruptcy -- we're cutting back on everything.

Very depressing.

BUT Linda Chao just said everything is hunky dory -- just over 5% unemployed -- only 400,000+ people out of work -- call an 800 number and get retrained for new jobs.

What a piece of crap that is.

[EconomyCollapsesInUS]

11. Have You Thought Of Trying EBay?

McSame says more and more people are earning money by selling stuff on EBay.

That closet full of old clothing could be worth $100. Just enough for a tank of gas.

[Radio_Lady]

13. LOL. I do have a few consignment stores where I sell. Their business is up 75%!

Thanks for the joke!

I can tell you this -- I've turned my brain around to being very thrifty.

We're in a good place -- farmers' markets nearby, summer weather is not too hot, boutique thrift stores in the next town, the only thing I buy new is New Balance sneakers (I have wide feet...). Our only splurge is on time share travel, but we're going thrifty again when we get there.

I've had my old clothes for such a long time they are actually like new again. (Big bright prints that look exactly like what the fashionistas are suggesting for this year!)

Warm regards,

Lady Ellen in Alpen Knolls

[Ichingcarpenter]

17. Earnings come out next week for major companies expect

a really "exciting" week also expect more giga billion dollar loans from
the feds to the banks as they have done since last August.

Next week will be Earnings from the Major Finacial groups
and technology.

It won't be pretty........