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Stock Market Crash 2008 - 2009 - 2010 -

Updated on May 1, 2012

Nasdaq Crash, Next Wave Down Coming

2008 Stock Market Crash. When will the Stock Market Crash in 2008?
2008 Stock Market Crash. When will the Stock Market Crash in 2008?

Stock Market crash of 2008 / 2009 leading investors to Gold

Stock Market crash worries are leading investors to interesting places to keep their money. Since before the 2008 stock market crash, gold has been exploding. We also find that money has been flowing in to both India and China since the collapse of the US Stock Market. For information on places other than the crashing US Stock Market, visit our research on Gold and the Indian Rupee.

New news and no stop to the Stock Market Crash of 2009. Did we think the market would stop crashing as 2008 came to an end? Be sure that 2009 may be worse for the market than 2008. Is that possible?

You better believe it. The Stock Market Crash 2009 is very real.

One of the most underestimated events in modern financial history is about to happen. With no rate cut today from the Federal Reserve. AIG will fail, this will cause the biggest leg-down yet in the current 2008 Stock Market Crash.
Equity CrowdFunding Website Reviews

The Federal Reserve, meeting during an unprecedented crisis on Wall Street, decided to leave interest rates unchanged but expressed concern about the crisis escalating.

The Fed's action to keep rates at 2% was a disappointment to investors, who were hoping that recent turmoil in financial markets would prompt the central bank to resume cutting interest rates. The Fed's action to keep rates at 2% was a disappointment to investors, who were hoping that recent turmoil in financial markets would prompt the central bank to resume cutting interest rates. In its statement, the Fed said "strains in financial markets have increased significantly and labor markets have weakened further." However, the central bank said it also remained concerned about inflation pressures......No mention of the eminant failure of AIG, which will affect financial institutions around the world. This is sure to cause the Global Stock Market Crash of 2008

Bank Failures, continued bad news....No end in site to the market crash of 2008

Notice that each holiday brings us closer to the Great Stock Market Crash of 2008. It's been a very strange year in the stock market. Look back at the 2008 calendar as the stock market crashes, month after month.

A brilliant professor writes about the myths and Reality of the upcoming

2008 Stock Market Crash

Is a Collapse in the Cards?

Will the market crash continue in 2010? This is the trillion dollar question

By Jeremy Siegel on

As I write this, stocks around the world are falling, the U.S. Federal Reserve is madly cutting interest rates to try to head off a recession, and everyone is worried about a global economic slowdown. Worries of a coming Stock Market Crash are all over the news. All this uncertainty was spawned by plunging U.S. home prices and the crash of the subprime debt market, which has blown up into an international credit crisis. What caused this fiasco, who is to blame and what it means for investors has been the subject of much debate. Here are the myths and realities:

Myth: The crisis resembles the one that hit the U.S. savings and loan industry two decades ago, necessitating a multibillion-dollar government bailout.

Reality: The current situation is very different from the savings and loan debacle of the 1980s. Back then, lenders used government-insured deposits to make risky investments with the full knowledge that if those investments failed, the government would have to make good on the depositors' balances. In the current crisis, the financial institutions are absorbing all the losses and no government bailout is planned.

Myth: The blame for the bubble in the housing market and pending Stock Market Crash rests with former U.S. Federal Reserve Chairman Alan Greenspan, who kept interest rates too low for too long.

Reality: While it certainly can be argued that Greenspan mismanaged short-term interest rates, that was not the major cause of the bubble. Soaring home prices were a worldwide phenomenon driven by demographics and low long-term interest rates, which were caused by low inflation and the huge buildup of savings in Asia. In fact many countries completely outside the dollar sphere, such as the U.K. and Spain, experienced an even greater real estate bubble than the U.S.

Myth: Because the current slowdown is due to the sharp cutback in the willingness of financial firms to lend, central banks can do little to improve the situation and stop the pending Stock Market Crash.

Reality: Central banks can and have done much to stabilize credit markets. The crisis was marked by a sharp increase in interest rates on bank lending over the targeted cost of funds set by central banks. Partly by injecting reserves into the market, central banks have ensured there is sufficient liquidity and reduced the "risk premium" attached to loans. The London Interbank Offered Rate (LIBOR), the peg for trillions of dollars of bank loans, has fallen from 5.75% last August to just over 3% today because of actions by the U.S. Federal Reserve. These declines have eased the anxiety in the credit markets. 2008 Stock Market Crash - Dow Jones, Nasdaq, S&P

Myth: Since almost all stock markets went up and down in unison during this crisis, international diversification is no longer an effective strategy for investors.

Reality: Although it is true that in the very short run stock markets have become increasingly correlated, there is no evidence that over longer time periods correlations between markets have increased. The speed of international communications means that traders instantly transmit both fear and euphoria across global markets, leading to similar day-to-day volatility. But longer-term movements depend on economic and profit trends within each country. Since more than half of the world's equity capital is now headquartered outside the U.S., maintaining a diversified international portfolio is as important as ever.

Myth: Most of the decline in the prices of financial stocks can be explained by the huge write-offs of mortgage-backed debt.

Reality: The decline in financial stocks far exceeds even the most bearish estimates of loan losses from mortgage-backed securities. From May 2007 to its recent low in January, financial stocks in the S&P 500 Index have declined by more than 35%, erasing more than $1 trillion in market capitalization. The market value of financial stocks headquartered outside the U.S. have also declined substantially. These losses far exceed the worst-case scenario of $200 billion in mortgage write-downs.

The only possible rationale for these huge price declines is that investors believe an economic downturn will significantly impair other assets of the banking industry and there will be a permanent decline in income from lending. The truth is that banks have greater access to central-bank liquidity now than before the crisis and will likely recapture some of the lending that has been lost over past years to the asset-backed commercial-paper markets.

Certainly over the past few years there was much foolish lending that had led to severe losses, and the economy will suffer in the short run. But actions by central banks will assure that this credit crisis does not morph into a full-blown recession or worse. And in the long run, saner lending and more reasonable home prices will lead to a stronger economic recovery.

Jeremy Siegel is the Russell E. Palmer professor of finance at the University of Pennsylvania's Wharton School

****2008 Stock Market Crash update*******

2/14 - Is the Stock Market looking for a Valentine's Day Massacre - Dow Down 186 points and falling fast. We will continue to update on the Bush Market Crash of 2008------

Not looking good for the US and International Stock Markets this morning (2/5/2008). The Fed prolonged our pain by slashing interest rates 2 weeks ago. Rather than "saving" the markets, they have extended the time it will take to get the stock markets to recovery mode. The Stock Market Crash of 2008 continues as the Dow opens down over 200 oints this morning, as the credit agencies continue to downgrade "investment grade" bonds.

Sorry for the Doom and Gloom, but the Fed has caused a coming market disaster. Rather than taking the excesses out of the markets, with a 700 point headline causing day. The Fed cut rates by 75 basis points, cutting today's market losses to only 140 points. Essentially this has spread the pain out over the next few months, rather than a 700 point painful day. We just got 1500 points of drawn out misery. You read it hear first.

We have not seen the bottom of the bear market in 2009, please don't be fooled by the bear market rally during this summer. The Crash of 2009 will continue in early September and will only get worse till mid 2010.



I would like to say this is a doomsday scenario out of a Science Fiction novel. I just hope you didn't sell your investment property and look to gain back the losses in the Stock Market. Unfortunately as I spend the evening watching markets around the world on the verge of collapse, I can only wonder where the S&P 500 and Dow will open on the morning of Tuesday, Jan. 22nd. Markets from Hong Kong to Japan to England and Germany are down an average of 9% between Monday, January 21st (while the US markets were closed) and Tuesday the 22nd. Curently the Dow Jones futures are down 530 points, while S&P 500 futures are down over 53 points. Thats around 6% and due to the holiday, Joe and Jane Public have no idea. They won't find out till they check the markets around 20 minutes after the open (delayed quotes on their iPhones).

Global stock markets extended their shakeout into a second day Tuesday, plunging amid worries that a possible U.S. recession will cause a worldwide economic slowdown.

The dramatic declines in Asia and Europe were expected to spread to Wall Street, where stock index futures were already down sharply hours before the trading day began. Japan's Nikkei 225 index, the benchmark for Asia's biggest bourse, was down 5.1 percent in afternoon trading after dropping 3.9 percent Monday.

Trading was halted in India when the Sensex index plummeted 9.75 percent within minutes of opening. Hong Kong's Hang Seng index dropped 8 percent by midday after diving 5.5 percent the day before.

"Unless we get some positive 'shock effects,' such as drastic measures from the U.S. government, there is almost no hope for a recovery in stocks," said Koji Takeuchi, senior economist at Mizuho Research Institute in Tokyo.

Asian markets have fallen sharply since the start of the year: Japan's benchmark index has sunk nearly 17 percent, while the Hang Seng is down a stunning 22 percent.

Oil and gold prices also fell. Light, sweet crude for February delivery fell to $88.35 a barrel amid speculation that slower U.S. growth will weaken demand. Spot gold, which usually benefits from market uncertainty, fell to a 2-week low of $860.90 per troy ounce.

U.S. markets were closed Monday for a holiday commemorating civil rights leader Martin Luther King Jr. But Wall Street future prices were down sharply, portending a plunge when trading begins at 9:30 a.m. Eastern time.

Dow Jones industrial average futures were down 486 points, or 4.1 percent, to 11,613, while Standard & Poor's 500 futures were down 62.7 points, or 4.7 percent, at 1,262.

Markets have been plunging amid pessimism about the ability of the U.S. government to prevent a recession. The Federal Reserve has indicated it will lower interest rates further, and President Bush has proposed an economic stimulus package that includes $145 billion in tax cuts, but investors around the world are doubtful that the measures will lift the economy quickly.

The American economy has been battered by a slump in the housing market and a credit crisis that has led to billions of dollars of losses among major U.S. banks.

There are already signs this is extending to less spending by American consumers, and that means less demand for Asian and European exports.

Symptomatic of an insoluble crisis of the world capitalist system

Stock prices plummeted worldwide Monday, amid heightened fears of a US recession. While over the course of last week US financial markets suffered the worst fall since 2002, with the Down Jones Industrial Average dropping by 5 percent, many Asian and European indices dropped by a similar amount in just one day.

It was the biggest one-day fall in world stock markets since September 11, 2001. Industrial stocks fell together with financial, suggesting that the US credit crisis, hitherto confined mainly to the banking and mortgage sectors, is spilling over into the real economy worldwide.

The huge fall in global equities markets indicate nothing if not the utter inadequacy of the fiscal stimulus package put forward by the Bush Administration last Friday.

The package, valued at some $145 billion dollars, or one percent of gross domestic product, will come mostly in the form of tax cuts to top income earners.

To put the measure in perspective, US household debt is now more than 100 percent of GDP, up from approximately 80 percent in 2003.

Given the current rate of debt accumulation among consumers, the stimulus package will put a tiny dent in overall debt accumulation by US households, and its effect on consumer spending and the foreclosure rate will be almost negligible.

The opinion pages of Monday’s Financial Times exemplify the thinking that led to the sell-off. In a column entitled “A fiscal stimulus offers limited help,” Clive Cook notes that the injection of cash from the US federal government will likely have little effect on consumer spending, partially due to the high debt accumulation among consumers.

Moreover, he writes, “confidence in the economy continues to plunge; on some estimates barely a third of the downward adjustment in house prices has happened; and the end of the credit crisis is not yet in sight.”

The column concludes, “Imminent fiscal stimulus notwithstanding, the heavy lifting on stabilising the US economy will therefore continue to be done by the Fed.”

Wolfgang Münchau, another Financial Times columnist, argues that rate cuts by the Federal Reserve are also likely to be limited in their effect on the real economy.

He writes, “There are recessions like the one in 2001, which respond well to a monetary policy stimulus. But not all do. This is going to be one of those.”

Perhaps most notable is the fact that Münchau refers a prospective downturn as “the 2008 recession,” taking for granted that one is imminent if not already in progress.

He continues: “Do not be fooled by anybody who says that the central bank should cut interest rates for the benefit of innocent citizens who have been caught up in this maelstrom.

"The first, second and third beneficiaries of the Federal Reserve’s pending helicopter drop of cash will be banks, not ordinary people or companies.”

While the columnists make strong cases against the effectiveness of either the proposed fiscal stimulus or Federal Reserve Board rate cuts, they do not put forward any convincing alternatives.

The overall sense is that the worldwide plunge of the stock markets is symptomatic of an insoluble crisis of the world capitalist system that has emerged with the bursting of the speculative subprime mortgage bubble in the US.

Threat of Recession Sends Markets Tumbling

Fears that 2008 will see the looming recession in the US spreading to every other continent triggered a global crash in share prices yesterday, wiping £77bn off the value of the City's blue-chip stocks in the biggest one-day points fall in London's history.

On a day of panic selling, hefty overnight falls on far eastern stock markets prompted a ripple effect through Europe and left the City's FTSE 100 index down 323.5 points at 5578.2 at the close.

Since the start of the year share prices have dropped by 14%, with the near 900-point fall in the FTSE 100 wiping out all the gains of the last 18 months and putting renewed pressure on pension funds.

Yesterday's 5.48% fall was the biggest in percentage terms since the immediate aftermath of the 9/11 terrorist attacks but less than half as big as the record 12.2% drop in October 1987.

In the City's money markets, traders were betting that the risk of a synchronised global downturn would force the Bank of England to cut interest rates by a full percentage point during the course of 2008 despite its concerns about inflationary pressure.

Economists are expecting the toughest year for the UK since the pound was removed from the Exchange Rate Mechanism in 1992.

In the US, pressure is mounting on the Federal Reserve to cut interest rates by 0.75 points at its meeting later this month, taking its main policy rate down to 3.5%.

Some analysts believe it will be necessary to cut rates to 1% by the end of this year to prevent the contagion from bad loans to subprime mortgage borrowers causing even more damage to the rest of the economy.

Shares in London closed near their lows for the day amid concerns that the market rout would continue today when Wall Street opens after being closed for the Martin Luther King public holiday.

Last night, there were indications that the Dow Jones industrial average would open more than 600 points lower.

In other markets, Japan's Nikkei index was down almost 4%, while Germany's Dax and France's CAC index both fell by 7%.

With markets in the developing world also suffering, the MSCI gauge of stock markets globally sank 3.3% percent, falling below its 2007 trough to lows last seen in December 2006 and taking it down more than 12% so far this year.

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, warned western countries to expect knock-on effects from the slowdown in the US, the world's biggest economy.

"The situation is serious," Strauss-Kahn said after meeting the French president, Nicolas Sarkozy. "All countries in the world are suffering from the slowdown in growth in the United States, all countries in the developed world."

After briefly rising above $100 a barrel earlier this month, the cost of oil fell by $2 a barrel to $88.59 yesterday in expectation that weaker demand for energy would push down the price of crude.

Mining stocks were among the biggest losers in London amid concern that the boom in commodities seen in recent years would be ended by a global slowdown.

Nick Parsons, head of strategy for NAB Capital said: "There was no real trigger for what was a Black Monday. Overnight there was the very large sound of pennies dropping followed by a general market capitulation.

"What the markets have woken up to is that, yes, there will be a recession in the US and, no, the rest of the world won't be immune to that slowdown."

Graham Turner of GFC Economics said the gloomy mood in the markets might have been the delayed reaction to news last week of financial troubles for the US companies that insured the bonds linked to subprime mortgages, the value of which has plummeted as a result of falling real estate prices and rising home repossessions.

"The stock market has finally cracked and it has cracked because of all the underlying problems. People are worried about consumer spending going down, and with the stock market going down as well the two factors will start to feed off each other," said Turner.

It would be great if I could be in the "longterm investors hold tight camp", unfortunately it looks like cash and Gold may be the safest place for the next few years.

Home Online Business

Don't be fooled by the recent stock market rally (as of 8/4/09), this market will continue its decline. My belief is the stock market crash of 2009 will begin in Sept., the lows in the Dow and Nasdaq have not yet been seen. Look to Gold and Silver as the market crash of 2009 continues.


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      cool 2 years ago

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      stock tips 6 years ago

      Very good post, I was really searching for this topic, as I wanted this topic to understand completely and it is also very rare in internet, that is why it was very difficult to understand.

      Thank you for sharing this.


      Stock Tips

    • profile image

      stock tips 6 years ago

      Very good post, I was really searching for this topic, as I wanted this topic to understand completely and it is also very rare in internet, that is why it was very difficult to understand.

      Thank you for sharing this.


      Stock Tips

    • profile image

      Stock Tips 6 years ago

      Very good post, I was really searching for this topic, as I wanted this topic to understand completely and it is also very rare in internet, that is why it was very difficult to understand.

      Thank you for sharing this.


      Stock Tips

    • profile image

      Stock Tips 6 years ago

      I really appreciate your post and you explain each and every point very well.Thanks for sharing this information.And I’ll

      love to read your next post too.


    • chamilj profile image

      chamilj 7 years ago from Sri Lanka

      As a stock market investor I always ready to face a crash. If I feel it will be a major crash I will sell all my stocks and cut the loss.

      Great Hub. Voted up!

    • profile image

      chris 7 years ago

      How to Hack the Stock Market works well. but I think you still need to invest in strong stocks.its very important to have a good mix of stocks to ride out a down times.

    • profile image

      2008 Stock Market Crash  7 years ago

      Interesting.. Thanks for the great information.. And also for the completely best investment that anybody can have . Well thanks, its a great help... It is my first time here in this site... That is why it calls my attention to visit it again for more source of new information.. Great article..

    • profile image

      adam 7 years ago

      Ups and downs, and crashes and booms are all part of the capitalist free market system. Anyone who actually bothers to research history over the last 100 years will tell you it is inevitable.

    • boycottchapter27 profile image

      boycottchapter27 7 years ago from Chicago

      Bank worries continue to lead investors to alternative investments. For information on Gold and the Indian Rupee, visit us at

    • profile image

      Wall Street Tour 7 years ago

      Well let's not be so skeptic after the war. Before the crash no one said "there will be a major crash in 2008-2009" .

    • profile image

      Wall Street Tour 7 years ago

      Well let's not be so skeptic after the war. Before the crash no one said "there will be a major crash in 2008-2009" .

    • profile image

      ftse spread betting 7 years ago

      Latest budget in the UK leads me to think another crash is close.

    • profile image

      Aaron Stacey 7 years ago

      it is amazing how owning a house is the best investment you can have, and at the same time this is what drove the economy into the outhouse of hell

    • profile image

      sreeiit 8 years ago

      Great info! I have bookmarked this hub for further reading..

    • aussieinvestor profile image

      aussieinvestor 8 years ago from Australia

      While the global financial crises has been a painful experience for all of us, it's also an important lesson on the long term nature of investing. We shouldn't buy shares because we think their price will go up next week. We should buy shares because we know that the value of the business will have increased five years from now (and hopefully so will the value of our investment).

    • profile image

      stockdriver 8 years ago

      stock markets are now reflecting Human behaviors, they are heavily falling without a really very worse reason, but also they are over-performing without any very positive issue.

      Basics of Indian stock market basics are available in simple language in

    • profile image

      scheng1 8 years ago

      Even when the stock market did not crash as bad as 1929, the impact on the world economy is bad enough.

    • profile image

      Darshan 8 years ago


      Very informative and descriptive hub. Thanks for sharing all technicalities. However, Stock market did not crash.

      It seems that some people are keeping the market high artificially.

      Thumbs up!

    • profile image

      stock assault 8 years ago

      Awesome article. Many investors have view the market simply as a buy and sell world. They should go to the blackjack table. At least they would get free drinks at most casinos. If investors would take the time to learn how the market works and take a long term view they would be much better off.

    • profile image

      Stock Assault 2.0  8 years ago

      Very informative article. I'm new to stock trading and I use Scottrade. They appeal to me because of the straight commission regardless of the number of trades, and no inactivity fees. The 25,000 minimum for the higher platform annoyed me a bit, but all-in-all pretty straightforward. Is there anything a new guy like me is missing? They seem to have the most straighforward costs.

    • profile image

      Gary 8 years ago

      It is lovely to see all these comments and opinions, but iam a firm believer in history repeating its self. Man kind is built on greed every since Rome and it will continue to be that way, until our Governments and corporates learn that the reason our Economy is the way it is is because of Greed and for what i see they still dont want to share the wealth, take a look at inflation versus wages its stairing you in the face iam not sure when but one thing for sure it will happin where we will see depression and war because of it just read between the lines and forget all the propaganda and wishes that it is and will get better we will see ups and downs for some time yet until all the pieces fall into play then we will see times wores than man kind could even imagin but fore sure this is where its headed the pattern hasn't changed and continues to head in this direction . mmmmmm all because inflation exceeds wages greed greed greed good luck to all?

    • profile image

      mktcrash 8 years ago

      Almost a year after the first wave of corrections took place we appear to be heading back toward the denial and excesses that caused them in the first place.

      As we approach the traditional crash months for 2009, bear in mind just how quickly we have come roaring back from the panic last year. Doesn't seem anywhere near as severe as other crashes. Does this mean we have seen the last of the bear?

    • profile image

      Exapto 8 years ago

      This is what I have seen from old cycles in our Economy. In March, the market didn't crash hugely, mostly a big dip downward, but in October-November, it has a high chance of crashing. This is because of the loss of jobs, while some people think its from our huge trillion-dollar deficit, and because of millions out of work, there is no income, other than a maybe sevrents package. Therefore, there will be less sales around the holidays, so a vast majority of stocks will hurt from this.

    • profile image

      Penny-Stocks 8 years ago

      Thanks for the informative article. In 2008 nobody could have imagined that companies like GM would be filing for bankruptcy.

    • profile image

      michaelle 8 years ago

      Maybe we'll have a good time in next year. LOL

    • profile image

      sean 8 years ago

      Thanks for this very interesting and informative hub,and thank for MysteryLeo , i will follow a link

      movie , uboc , wamucards , fiacardservices

    • profile image

      sean 8 years ago

      Thanks for this very interesting and informative hub,and thank for MysteryLeo , i will follow a link

      movie , uboc , wamucards , fiacardservices

    • Mitch King profile image

      Mitch King 8 years ago from Wilsoville, OR, USA

      This isn't even the beginning! If things continue to go the way they are this will be considered good times! This is a well considered article that lays out the facts very well!

    • profile image

      STUD69 8 years ago

      Read my post of 14 months ago ;)

      I made 1000% on my December 3000 ASX200 put options. I'm loving it.

      Next on the list is the greatest depression. Good luck boys and girls.

    • forlan profile image

      forlan 8 years ago

      recently index is rising gradualy. is the sign the economic will go worst?

    • profile image

      MysteryLeo 8 years ago

      If you're worried about what the market is going to do, you should look at technical analysis.

      If you don't have time to do that, there are sites that do it for you like:

    • James Q smith profile image

      James Q smith 8 years ago

      If the people up top will avoid mettling as much as possible, I think we'll make it out just fine.

    • Toronto12 profile image

      Toronto12 9 years ago from Toronto

      This is a great article! I think that a devestating depression has been avoided, but we're going to see a long drawn out recession and see the DOW hit 4000 within the next couple of years. All the alt-a and option adjustable resets are coming, and not to mention the fall in commercial real estate that's coming.

    • profile image

      Covert Hypnosis 1 9 years ago

      wow, this is really detailed, yet, even as a layman, i get it... thanks!

    • gerardlim profile image

      gerardlim 9 years ago from Singapore

      Very realistic assessment indeed. We can only hope that things will stabilize in 2009, even if the recovery will be slower. Great hub!

    • profile image

      sara 9 years ago

      thanks for this great hub...

    • bgamall profile image

      Gary Anderson 9 years ago from Las Vegas, Nevada

      I view this, Boycott, as class warfare against the middle class by the rich. I wrote a hub on it. And I knew there was a bubble forming in late 2005.

    • profile image

      Steve 9 years ago

      Very good hub!

      I agree that the financial crisis is far from over - in fact it will get alot worse. It won't stop until all the bad debt and all the irrational assumptions about the future economy have collapsed!

      However, let's remember that so called 'bad times' are always a good opportunity to make money too.

      I don't mean investing. INvesting is for the good times. Buy and hold and a thing of the past. Now comes back the time of trading. Swin-trading, Fibonacci-Trading, Elliottwaves and the like. Anyone still around who lived to see the 70s??

      At that time everyone was trading. Noone wanted to invest. It was all about cutting your piece out of every little market movement. It is a different mentality.

      It is short term thinking. But in these times we need to think short-term.

      So maybe we will see a revival of trading system again.

      Here is oen I use and that has turned out to be extremely successful in its predictions:

      Ok, the name sounds strange - but it does work for me.

      Anybody else tried it?

    • bgamall profile image

      Gary Anderson 9 years ago from Las Vegas, Nevada

      I like the hub but Greenspan did two bad things. He kept interest rates too low for too long. And he looked the other way while all manner of loose money and underwriting was provided. If you read my hub about the Bush Legacy you will see that this same Greenspan who advocated adjustable loans in 2004 also told Bush to secure the oil in 2003. This fed and the Bush admin were twins in an illegal war for oil and in setting up the ponzi scheme that created the housing bubble. There was a worldwide housing bubble because central banks everywhere loosened credit requirments, loan to income values, and less money down policy.

      I don't buy that this was some naturally caused event, worldwide. It was planned.

    • profile image

      B. Gilley 9 years ago

      On what day of 2008 was the crash of the US economy announced to the public.

    • The Singer profile image

      The Singer 9 years ago from Northern California

      I guess we al know how accurte this was now...


    • profile image

      Rick 9 years ago

      I received this in August of '08:

      On Mar 17/08 the House of Representatives held a "Special Closed Session".This was only the fourth time in 176 years that Congress has closed it's doors to the public.Not only did members discuss new surveillance provisions as was the publicly stated reason for the closed door session, they also discussed:1. The imminent collapse of the U.S. economy to occur by September 2008.2. The imminent collapse of US federal government finances by February 2009.3. The possibility of Civil War inside the USA as a result of the collapse.4. Advance round-ups of "insurgent U.S. citizens" likely to move against the government.5. The detention of those rounded-up at "REX 84" (FEMA)camps constructed throughout the USA.6. The possibility of retaliation against members of Congress for the collapses.7. The location of "safe facilities" for members of Congress and their families to reside during expected massive civil unrest.8. The necessary and unavoidable merger of the United States with Canada (for it's natural resources) and with Mexico (for its cheap labor pool).9. The issuance of a new currency - THE AMERO - for all three nations as the proposed solution to the coming economic crisis.

    • profile image

      Jana 9 years ago

      Peter Schiff and Don Harrold have been warning us about this crash for years, I wish I would have been aware of their advice back in 2006.

    • profile image

      Thomas 9 years ago

      I smell a Depression greater than that of 1929. When it finally collaspes don't come sniffing around me unless you want to get shot!

    • profile image

      Zilya 9 years ago

      While in our country financial situation is not so bad, but in some banks people cannot get a credit, it is difficult

    • Stormy Brain profile image

      Stormy Brain 9 years ago from USA

      One key to survival right now - get out of debt, live on less than you make, and use the difference to build a salary reserve invested in money market accounts in banks (because they're now protected by FDIC). Target 3-6 months worth as a just in case cushion. Then look at undervalued assets which you'll be able to pick up for a song.

      Remember, during the depression, some of the greatest fortunes in the world were created by those who were smart enough to create ready cash and invested it wisely!

    • profile image

      lukasmann 9 years ago

      I lost 3 mil in this fiasco on Wall Street last week but fear not, I am well oiled in real estate and NEVER AGAIN will have anything to do with stocks. I will make that money back in 3 years with my RE investments and have some tangible assets instead of worthless paper. My rentals alone bring me 6 times as much as I need for a monthly nut. My portfolio was actually my uncle's which I received when he passed. Good luck to you guys. I am OUT. Luke

    • profile image

      matt london 9 years ago

      Can someone explain to me why a global stock market crash is such a disaster. No tangible resources get destroyed, those buying the stocks at the lower value benefit by the same amount as those selling have lost, if the shares are viewed as an entitlement to future profits and not as a bubble-creating act of speculation. Surely an earthquake or tsumani where real resources are destroyed and real lives lost is a bigger threat to human prosperity?

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      gabriel 9 years ago

      Fasten your seat belts everyone.......we are up for a big ride. i don't mean to scare you, but there is nowhere else to get money from.....The feds money printing machine has expired...and now the elites running the federal reserve are running scared.

      One piece of advice: love and enjoy your family, spend more quality time with your kids, parents, loved ones. Don't take your work home and enjoy what life has to offer

    • nancydodds1 profile image

      nancydodds1 9 years ago from Houston, Texas

      Excellent information about stock market cash. Sharing this information is very nice. Here i posted an information about mortgage calculator

    • RyanRE profile image

      RyanRE 9 years ago from Bellingham, WA

      It might be time for another update, as the Dow was down a record 800 points for a brief time today. Overall, you have provided some great incite to a situation that continues to unfold down a path that has been predicated for some time.

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      Ryan 9 years ago

      With all the media, analyst and experts foretelling the doom that is going to become of the stock market, all confidence in our economy is going to be lost and the downward spiral that is our current stock market will only get worse. I think that media fueling the idea that our stock market has no chance is inadvertently making things worse. The media needs to stop focusing on the negative aspects all the time and possibly give people some hope. With this done, maybe there will be some more growth in confidence in our own economy and possibly a recovery on our hands... who knows? Look what happened in 1929. People quickely decided to sell their stocks because word spread that there was GOING to be a stock market crash, not because there necessarely was one. We need to learn from our past and stop relying on the media, which has alternative motives, to influence our actions.

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      subprime crisis explained 9 years ago

      this market crash sucks big time. thank for the info!

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      kaitlyne 9 years ago from USA

      Thanks for the great informaton

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      patinphilly 9 years ago

      Who will feed the multitudes now? Jesus of course, like He did before. Whether they be bankers or bums, He fed them then and is still supplying food now. Is He on the S&P, I wonder? What a steady source of provision! I bet analysts would like to get their hands on Him!

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      BMW 9 years ago

      We will crash no doubt. We have elections, an unstable Iran, energy crisis. People cheering for Obama who will also send this damaged economy into a pit with his purposed tax hikes and world welfare programs.

      Bad times ahead but stronger ones will follow.

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      mwj 9 years ago

      No sharemarket is safe from the 50% falls which are coming in the next 12 months!! Financial banks/brokers are on the verge of widespread collapse, the housing market is smashed, inflation is rampant, jobs are fast disappearing, the world is about to descend into globalthermonuclear war over oil -- the GREAT DEPRESSION IS ALREADY HERE. **** SELL, SELL, SELL AS THE END OF THE WORLD IS NIGH !!!!!!!!!! ****

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      practical idealis 9 years ago

      We live in unprecedented times. Threatening times.

      The End Of HistoryThe End Point and The End Game With the fall of the Soviet Union it was widely believed that we had witness the end of history, the end of the historical war between democracy and Marxism. But with the rise of communist China, we are again faced with the historical question: who will be left standing at the end of history? This time around it looks like the final battle. And the news from the front isn’t good. Communist China, simply by opening its trade door to the world’s capitalists has pretty much captured the means of production along with the technology and the wealth and so the wherewithal to build up its military strength. Does this mean that Marxism is set to dominate the world? Not quite. It is not the rise of worldwide communism that China has in mind, but “socialism with Chinese characteristics.” It is China that has captured the means of production and it is China that seeks to dominate the world. And they intend to do so not by military dominance, but by waging total economic war. A war we are on the verge of losing. And as we lose it, so goes the world. This is China’s end point and end game.

      So, before they succeed, we have to get in the game. Not only do we need a vision that pulls our economy out of recession, we also need one that will win the ideological war. That is, we need an end point and end game of our own.

      But first, it is necessary to put China’s end game in perspective. To do so, however, we have to take communist/imperialist China temporarily off the board and view them as just another global player. To begin we have to go back to 1976. That’s the year the United States began running a continuous and mounting trade deficit (a continuous rise in global unemployment). It began as Japan and Germany rebuilt their economies and emerged as formidable competitors, followed by the Asian tigers and then the Asian tyrannosaurus-rex—China. According to economists, however, this should not be a problem. America's trade deficit would be brought into balance as a weakening dollar gives the U.S. a competitive edge, regardless of their technological and low-wage comparative advantages, and bring our current account into balance. In lay terms this would be called a teeter-totter global economy—an up and down game that keeps the global economy balanced. But some players are unwilling to play. As evidenced by China as it pegged its currency to the dollar. If it had not done so their economy would have stagnated as its exchange rate rose to a point where it lost its competitive edge and the global economy would have lost a significant trading partner.Now, however, since it has become the factory to the world, it has been pressured to reevaluate the yuan and has modestly relented. But since China has become the factory to the world, the benefits are doubtful. As the yuan strengthens, the costs of their exports rise, which translates into fewer exports, and a rise in domestic unemployment. For us it means they export inflation while we export more dollars. So, pursuing this line of thinking could push the global economy into a recession—the seesaw is broke in the middle. Then there is this: In the real world our competitors distort the currency markets by purchasing dollars (one aspect of pegging) to keep their currencies competitive that become part of their dollar reserves. To date Japan and China have both stashed a trillion dollars under their mattresses. And it’s just not here that there is a problem. Japan holds approximately 600 billion dollars in Treasury securities while China holds nearly 400 billion dollars. This is not altruism. The investment angle aside, they are simply pursuing their own self-interest. By investing in government bonds they further prop up the dollar and in so doing protect their economies while allowing the United States to remain a significant export market.Yet despite all this the dollar remains weak. And so there is a rise in our exports—but not enough to keep our trade deficit from widening. So how long does the U.S. have to sit at the top while others sit meekly at the bottom? That’s the wrong question. The right question is: How much longer will other nations prop up the dollar and our financial house while allowing us to keep bellying up to the pot while putting less in as we continue to export more dollars? China and Japan are our major competitors and it’s not necessary to go on down the list, the point is they reflect the world at large—a global economy not only out of balance, but unlikely to be balanced. The reason that it has yet to reach a tipping point is that while they shored up their economies by propping up our financial house, we became a nation of rampant speculators and unrestrained shoppers. Hype in the stock markets over ventures led to a rapid expansion of paper wealth that fueled an economic boom as well as a boon in capital gains taxes that not only contributed significantly to budget surpluses, but had economists forecasting that they would continue far into the future and within ten years our national debt would be zero. It was the age of irrational exuberance. And when the bubble burst, budget surpluses evaporated, fell into deficit, and the economy itself, in 2001, slipped into recession. Not so much in response, but for disparate reasons, the nation’s fiscal and monetary arsenal was pretty much deployed. Massive tax cuts (mostly for the wealthy) and massive pork barrel spending by a Republican Congress (trading principle for power) and a maximum cut in interest rates, by a sober Federal Reserve, to rock bottom quickly brought the economy out of recession. But rock bottom interest rates quickly led to a housing boom and a frenzy of speculation in the housing markets and a windfall for homeowners who refinanced and cashed out on their inflated equity and went on a spending spree buying SUV,s, remodeling their homes or moving up, buying high end televisions or whatever their hearts desired. But eventually reality checked in as rising prices soared out of reach for prospective buyers and the bubble collapsed. Now the economy again is slipping—despite a weak dollar and a rise in exports—into recession (this time with no bubbles in sight). So, again, the Fed is pushing interest rates to rock bottom at the same time providing greater liquidity to the financial markets while the President and Congress throws out a stimulus package of rebates for individuals and tax incentives for businesses. But given that America is an upside down nation facing a credit crunch, rising food and oil prices, and in the midst of a severely slumping housing market, they will not have a sustainable effect. So here the problem isn't simply with China, nations regardless of ideology seek, or attempt to seek, their own self-interest, and in so doing play a dangerous zero-sum game. A game where economists have no viable answers, other than pursuing more trade agreements, as such politicians are at a lost. We are out of the game.That said, communist China is very much in the game; their end game is to win the zero-sum game. The backbone of Marxism is that capitalism has gone down a path that ultimately leads to its collapse. For the “bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the whole relations of society… The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe. It must nestle everywhere, settle everywhere, establish connections everywhere… All established national industries have been destroyed or are daily being destroyed. They are dislodged by new industries, whose introduction becomes a life and death question for all civilized nations, by industries that no longer work up indigenous raw material, but r

    • budwood profile image

      budwood 9 years ago from Southern Nevada

      Someone once said, "You have nothing to fear but fear itself". . . . Not sure what that means in a rational context, but we don't need to panic just yet. The big crash is several months away, so we can all breath a sigh of relief.

      In the meantime, we can get our affairs in order. We can get out of those paper investments and get some stuff that should see us through. From my viewpoint, that investment in Central Fund of Canada seems pretty safe- - CEF just has gold and silver in vaults. Such usually maintain values even in depressions.

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      j. gelder 9 years ago

      buy silver and gold....dump stocks....overvalued still.....I beelive there is too much government manipulation.....CPI index is manipulated etc.....storms a comin' currency......where is the m3 report....meanwhile my brother serves in Afghanistan, yet we don't secure our borders? Two presidential candidates...both liberal.....sorry feeling depressed...maybe I'm wrong.....hope I'm wrong.....

    • profile image

      Luke 9 years ago

      Nice Hub, well done!

    • Sandilyn profile image

      Sandilyn 9 years ago from Port Orange, FL

      I myself see this coming as well. The stocks have been up and down. Historically the years of a Presidential Election show gains in the stocks. Not this year. With the rise in gas prices, which spread across the board to all goods, our outlook is becoming bleaker.

      We can not blame Greenspan. He is not the one to blame as he did not create the problem with the mortages. That rests with those companies alone and with the people themselves that dug themselves into enormous holes.

      The value of our dollar is depleting every day. The only bright spot is the tourists from other Countires are bringing their dollars here to spend but that will not help us in the long run.

      We all need to save what we can and stop being foolish. Let us look at how our grandparents lived.

      In my opinion we need a big change and we need it now!!

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      arghisle 9 years ago

      Yeah, Well now its May 20th. As Mark Twain said, "Predictions are difficult, particularly when they involve the future.

      "Insoluble crises in the world capitalist system"? Are you kidding?

      Let me guess, The downturn which you refer to as a crash took you by surprise.

      As for cash and gold being the safest place to be over the next few years, may I suggest your closet, with the door closed and the light out. On second thought turn the light on and spend your time learning something about the markets.

    • ngureco profile image

      ngureco 10 years ago

      A very good hub. Keep the good work.

      But I wonder if there is any one who can predict what the market will do. I believe in finding what the market is currently doing and doing that. Its the only way to trade.

      My good laws of probability tells me that there is 50% chance of Stock Market Crash in 2008 and 50% chance of Bullish market. Please go ahead and buy stocks if you believe the market is going up and sell your stocks if you believe the market is going down.

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      jonh scotto  10 years ago

      i am thinging of sell my 18 stire pizza chain the price of gas oil flour cheese etc it is bankrupting many of my friends if this dont stop i think a world war is coming

    • solarshingles profile image

      solarshingles 10 years ago from london

      FULL of very useful information! George Soros was talking and predicting all events in advance and people were laughing...

      Too many totally artificial, non-existant (uthopic) financial derivatives and playing with them and all banking sector mad about crazy bonuses at the end of the financial year...and we are all going to pay.

      I was watching Warren Buffet, how he was selling huge stakes on time, last year, though, and I couldn't believe, how right he was.

    • Ralph Deeds profile image

      Ralph Deeds 10 years ago from Birmingham, Michigan

      Glen Beck is a major league asshole. He neglected to mention the $3 trillion projected cost of the war in Iraq. However, he is correct that the Bush administration has bankrupted the country with his tax cuts for the rich, the addition of drug benefits to Medicare, etc. Social Security is the least of our worries. It can be fixed with a couple of minor adjustments. How to pay for Medicare and continuing deficits from the war are the real problems.

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      oblivious in America 10 years ago

      Did anyone read Glen Becks article on how much the United States owes on future obligations for Social Security and Medicare. It's a whoping 455,000 dollars per U.S. household. Yes, you got it right four hundred and fifty five thousand dollars per household. The way I see it, the standard of living will decline for the average American. The U.S. government should have been saving for the retirement of 78,000 baby boomers. Question, how many people live in America. The last count was 350 million. Of course not all of them are actually in the work force. The rest are elderly, disabled, or children. Of those working, only sixtey percent pay taxes. Fourty percent don't make enough to pay taxes or they actually get an earned income credit. Run the numbers people, we are in for a pickle. Could the U.S. government actually default on their debt? What happens if no one buys u.S. Treasuries? Wo will foot the bill? If Uncle Sam has to, it will keep printing Social Security checks and welfare checks at any cost. It would even INDUCE hyperinflation if it had to. Does any one know what hyperinflation is? In is inflation of at least 100% per year. Could it happen in the U.S. ? You bet it could. Just look around the world at other countries that it has happened to. We think that we have the strongest ecomomy in the world, but look at what is happening to the value of the dollar. Actually the U.S. has dropped to the number 2 spot. The European Union's GDP has surpassed our own. Saudia Arabia is worried that the dollar could collapse and they are using their OPEC voice to prevent it. I believe that in the next twenty years it won't matter where in the world you live. You will not have any economic advantage by living in the UNITED STATES. If I had to choose a country it would probably be in INDIA or South America. The Federal Reserve is running scared and they hope to God that the rest of the world does not call our bluff.

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      youho 10 years ago

      One thing is for sure. You shouldn't be in the market if you are afraid of losses. No one can predict what the market can do except for maybe some gurus who make stock pick selections either in magazines or on T.V. and the rest of us bloats follow their wisdom. Of course who's to say the don't talk up stocks which they own in order for them to sell on a high. Thanks for all of that great wisdom.

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      STUD69 10 years ago

      We will be experiencing more than a recession. This will be a deep depression, according to my analysis. There is jack-all the governments or central banks can do. There are too many problems, too many issues, and things have gotten too out of hand. It's like terminal stage cancer. All the good words, wishes and assistance just won't do the's too late. At best only time can be bought for a little while, but that's it. This is something that has been brewing for many decades now, yes, decades. This is all part of a preplanned approach to shift the wealth of individuals. There will be a smashing of the middle class and demotion of this class to lower class, whilst the lower class will become slave class. The tiny upper class will see wealth of unprecedented proportions.

      We can't save our selves, but we can shield ourselves to some extent. This can be done through wealth accumulation through the purchase of put options (although a risky venture), all debts need to be repaid and we need to accumulate cash (just like banks are now trying to do). If you think you can ride this future depression, then forget it. The only chance to is take advantage of it.

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      jack03 10 years ago

      the recession is ON...From my view point the government now has to do some thing to keep a check on it...or else the the great recession period of 1929-30 is not away...than the historyu would witness...THE GREAT RECESSION OF 2008!!!

    • profile image

      STUD69 10 years ago

      *Please delete the previous comment. I just wanted to see if I could post without registering.

      Ok. I also agree that there are going to be very serious financial issue. I also agree that there will be a sharemarket crash. In fact, I am putting my money on it. If the users of this site are unanimous in there thoughts about a market crash, then why not make money from that. The way to do so is through "put options". These are highly speculative and risky investments, and possible losses could amount to 100% of amount invested. However, these investments are also highly volatile and massive returns can be made. If a sharemarket crash occurs, say, 20 - 50% in a very short time (which could be considered to be an actual crash, and not a correction), then the value of puts would go sky high i.e many, many time their original cost. I'm not authorised to provide financial advice, but this post is merely to bring such instruments to light to you people. Look into it, think about it and decide whether these investments are right for you, especially considering we are in very unique times at the moment.

    • profile image

      STUD69 10 years ago


    • WeddingConsultant profile image

      WeddingConsultant 10 years ago from DC Metro Area

      great hub- this is why i'm hanging on to my small gold bar that I inherited years ago. US Dollar seems to really be plunging.

    • budwood profile image

      budwood 10 years ago from Southern Nevada

      With all the information here, I need to reread your hub a couple of times to see the "horizon".  But the fact remains that the entire financial system is on shakey ground.  Yesterday (Mar 11) was exciting - wonder if the USFed can do that again (and again)?

      I need to do some thinking and then update some ideas in a new "Bud's Market Observations" hub.  Like some "cash is king", but the US dollar may be the joker!

    • Rob Jundt profile image

      Rob Jundt 10 years ago from Midwest USA

      Great hub. I've been telling people for 6 years that the metals would come back to hedge against a falling dollar and real estate prices. Kind of makes me look like a guru now. let's see, 100K invested in silver a year ago nets about 30% to date. Not a bad way to make 30K. Great info and writing.

    • optimindzer profile image

      optimindzer 10 years ago

      so that's why the wise said :" do not put all the eggs in one basket"

    • boycottchapter27 profile image

      boycottchapter27 10 years ago from Chicago

      Sell S&P futures tonight!! May be the only way

      to cover yourself come Monday morning.

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      DollarPro 10 years ago

      The crash started on 7 March 2008, would continue into Asia open on 10 March. and then an accelerated plunge into the abyss.

      Eventually DOW to 10,000.

    • profile image

      robtree 10 years ago

      Home loans, seems as if we are in for a really bumpy ride. Let's hope most of us survive it.

    • Erica Moss profile image

      Erica Moss 10 years ago from San Francisco Bay Area

      There will be some good stock buys down the road...but it will be several months of pain in the meantime.

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      MWJ 10 years ago

      The US is already in a major recession, Bernanke is in denial and Greenspan must take the blame for his horrendous decisions in keeping interest rates at sustained record lows of 1% which laid the foundations for this whole sub-prime mess! With Japan and the UK also showing recession indicators, the biggest crash since 1929 and 1987 combined will be here in 2008! Expect a global meltdown as asset values plummet, credit dries up, massive unemployment takes hold and companies across the world go bankrupt while the DOW plunges to sub-10000.SELL, SELL, SELL before it's too late as the world economy is doomed in the biggest financial disaster of all time!!!

    • Ralph Deeds profile image

      Ralph Deeds 10 years ago from Birmingham, Michigan

      Home foreclosures so far haven't scratched the surface. More and more people are, in my opinion, going to walk away from their home mortgages and let the banks worry about what to do with the houses. There is little financial incentive for a home owner to keep making payments on a mortgage that is bigger than the going price for his house. More and more people are going to do like Mr. Zulueta in San Francisco

      I don't know why anybody should feel obligated to continue paying on one of the flaky mortgages with prohibitive pre-payment penalties. If I had one it would give me great pleasure to hand the keys over to the bank or whoever holds the paper on the mortgage if that entity can even be clearly identified. This is a colossal mess.

    • boycottchapter27 profile image

      boycottchapter27 10 years ago from Chicago

      Looks like Leap Day could be the Day of the 2008 Stock Market Crash.

      Dow down 200 and falling fast.

    • profile image

      mexican 10 years ago

      You all going to part of mexico dollar is to weak

    • James Flanagan profile image

      James Flanagan 10 years ago from Los Angeles

      I agree with your point that the stock market looks like it's heading for lower prices...but I think I have some research that signals a little bit different timing, with a possible buying opportunity before that happens...

    • profile image

      Aunt Scary 10 years ago

      No matter what we are all in trouble. Keep your $ at home. Dont waist it on stocks, and bonds. There will be a reccesion, and then your money will be gone.

    • William F. Torpey profile image

      William F Torpey 10 years ago from South Valley Stream, N.Y.

      With the Dow at 12,224.41 at this moment, things are not looking too good. I think they should put a padlock on the door at the Empire State Building to prevent all the big losers from leaping to any conclusions. Nevertheless, the time will come for wise investors to get back in.

    • Bug Mee profile image

      Bug Mee 10 years ago from Great Midwest

      Excellent informtion!

    • profile image

      joe scotto  10 years ago

      pubic records scan labor dept losses historic crash factory cuts industrial commmerical crashs unions loss job losses recession fears 745000 jobs lost 72142 businesses close s p 500 economic policy institute virus crash internet manufacturing will turn to war base economy inflation to climbto 24700 or 1500000 percent cac40 ftes dax crash redcross cuts force oil output stop commmericial banks crash price hikes will stun billions nikkel will start www4 4

    • profile image

      joe scotto  10 years ago

      i see the stocks falling in this super bowl effects

    • Debt Free Project profile image

      Debt Free Project 10 years ago from U.S. and Parts of Canada

      If you take the financials out of the picture, the markets actually look pretty healthy. I was speaking with a friend today who works for Merrill Lynch. He said they are pretty bullish right now.

      Unfortunately, I have my doubts. The housing crash is going to make this one long and painful. Look for it to continue until at least 2015. Get out of debt and manage your finances very closely.

    • profile image

      darshak9 10 years ago

      recession is good, be glad its happening, it gives you the change, often, once in a life time opportunity to make some solid cash... all you need to know is how to get that

    • Ralph Deeds profile image

      Ralph Deeds 10 years ago from Birmingham, Michigan

      The $64-dollar question is what will the bottom and when? Or what would you say is the range for the bottom? Dow 8,000-10,000?

    • blerim profile image

      blerim 10 years ago from BOSTON

    • parthavi profile image

      parthavi 10 years ago

      There is no need for panic, The asian economies are booming. the European economies are also doing well. I am sure that the US Economy will start looking uo in the next three months even before the presidential election hots up. Long Term investors can feel confident.

      A smart investor can make money in the stock market, during a bull run as well as during a bear hug! Find out how.

    • profile image

      Mr K 10 years ago

      There is no question on my mind that the markets are all crashing in 2008. Thanks for the great info. I author a blog with some friends ( and I am the biggest believer in a crash. Let me know your thoughts.

    • profile image

      Mr K 10 years ago

      There is no question on my mind that the markets are all crashing in 2008. Thanks for the great info.