Dow at 8000 and falling....

[mawilson 2,133]

But I wouldn't say 'crash' just yet. Hopefully won't have to since quite a few of us don't like to lose money we've invested.

It's a crash. It's official. The week-long dive matches the fall seen in the Great Crash of 1929.

"Sadly it is now impossible to call the bottom of this market rout," said Howard Wheeldon, strategist

at the BGC Partners brokerage in London. "Irrational fear has gripped and it seems markets will now

trash almost anything that walks. For now it is unstoppable."

...

The share sell-off was remarkable for its uniformity, with all the world’s major stock indices

sustaining losses of more than 20 per cent for the week. In the US, both the Dow Jones

Industrial Average and the S&P 500 were on course for falls of more than 20 per cent,

far worse than any week during the Great Crash of October and November 1929, or the

Black Monday crash of October 1987.

The collapse on Wall Street was matched by falls of 21 per cent for the week in the

UK’s FTSE-100, the second worst week in its history, 22 per cent for the FTSE-Eurofirst 300,

and 24.3 per cent for Japan’s Nikkei 225. All have fallen about 40 per cent from the peaks

they registered in October last year. Late on Friday, Germany signalled it was ready to

announce a huge bank recapitalisation programme.

FT

[DairyFarmer 1]

Its blacker than the 30's, 1987, 1999 and 2001. No doubt but it always comes back. Thing is it will probabaly have the chinese owning it all at this rate.

[w¡n9Nµ7 §£@¥€r 123]

Worse than the GD?

Why the hell did this have to happen in my lifetime?

[DairyFarmer 1]

Worse than the GD?

Why the hell did this have to happen in my lifetime?

Suck it up and figure what you want to buy. You are too young (anecdotal evidence) and have plenty of time to see recovery.

Edited October 10, 2008 by DairyFarmer

[mawilson 2,133]

Yep. Although I think more of the pain now is short term. Once things turn around, then better for all involved.

You can think that if it makes you feel better... in reality, you should probably sell whatever

you have left to avoid further losses. It's not the bottom yet, far from it.

[w¡n9Nµ7 §£@¥€r 123]

Thing is it will probabaly have the chinese owning it all at this rate.

Why, you don't think they have assets wrapped up in the financial markets as well?

[caybee 21]

I haven't even looked at my old 401(k). Just started a SIMPLE IRA with this paycheck, and hubby has his own. We're going to try to act pretty normally, albeit frugally, without taking on debt, and let the savings do their thing since we expect to have many working years ahead. I'm not panicking...yet.

[DairyFarmer 1]

Yep. Although I think more of the pain now is short term. Once things turn around, then better for all involved.

You can think that if it makes you feel better... in reality, you should probably sell whatever

you have left to avoid further losses. It's not the bottom yet, far from it.

That is ridiculous advice and it is those who believe that type of rubbish who get hurt. The small time investor.

Thing is it will probabaly have the chinese owning it all at this rate.

Why, you don't think they have assets wrapped up in the financial markets as well?

Not the same way the rest of the world is. And they own I think actually I'll check billions of dollars in treasury bonds, heavne help us if they want to collect and don't hold onto them.

[w¡n9Nµ7 §£@¥€r 123]

I am gonna hold on to my depreciating home.

I figure I gotta live somewhere.

[DairyFarmer 1]

I haven't even looked at my old 401(k). Just started a SIMPLE IRA with this paycheck, and hubby has his own. We're going to try to act pretty normally, albeit frugally, without taking on debt, and let the savings do their thing since we expect to have many working years ahead. I'm not panicking...yet.

See the bad news is it would have gone down, but the good news is you are able to buy at cheaper prices which mean the will increase when the market goes up.

[mawilson 2,133]

I haven't even looked at my old 401(k). Just started a SIMPLE IRA with this paycheck, and hubby has his own. We're going to try to act pretty normally, albeit frugally, without taking on debt, and let the savings do their thing since we expect to have many working years ahead. I'm not panicking...yet.

You should definitely look at your 401(k). You may not like what you're going to see,

but denial is worse.

[w¡n9Nµ7 §£@¥€r 123]

... heavne help us if they want to collect and don't hold onto them.

If they want to collect, that will likely mean there's a better place for them to put their money.

In which case, we'll put ours there too

[AlHayatZween 2]

what about regular checking & savings accounts?

those are okay not to touch, right?

[w¡n9Nµ7 §£@¥€r 123]

what about regular checking & savings accounts?

those are okay not to touch, right?

no those are doooooooooooooooooooooooooooooooooooooooooooooomed

[mawilson 2,133]

Yep. Although I think more of the pain now is short term. Once things turn around, then better for all involved.

You can think that if it makes you feel better... in reality, you should probably sell whatever

you have left to avoid further losses. It's not the bottom yet, far from it.

That is ridiculous advice and it is those who believe that type of rubbish who get hurt. The small time investor.

Fine, hold on to your depreciating assets, lose some more.