Ok folks the day of reckoning might be here

the one we were all dreading.

No, don't expect this to be 1929 exactly... especially with the market. There are trading curbs et al... but this morning saw the initial panic that many of us have been expecting.

Oh and for the rosy ones... sorry, I hate to say this, but we have been expecting this for a while

On the bright side, yes there is one... this is happening under a Republican watch

Yup, it's here. Now delayed somewhat by Bernanke's move.

... how the free market fundies are such flaming hypocrites? Laugh riot that bunch of assholes.

and now they want the money we are forced to give as taxes.

Sure wish we had an opposition party...

European markets for the most part are up, I guess we wait to see what Asian markets do tonight.

http://finance.yahoo.com/intlindices?e=europe

The Mr. and I have been saving for months with the intent of moving out of the country in August. I'm wondering if it's going to be too late, and our savings won't be worth jack by the time we're ready to move. /sigh

you may still be able to and I hope you are

As to savings, the ones that worry me are my parents right now.

I'm thinking about moving some money into Euros that we've currently got in the local bank, now that we have enough to do that (I think.)

I worry about the elderly folks in this country, too, especially the ones who're counting on corporate payouts to live off of. :( I hope your folks do ok, nadin. :hug:

they live in Mexico... and if the stock truly tumbles...

inherited that with my luck the Dow would be down to 7000 by the time Stupid left office.

I hope I wasn't being optimistic.

This is ironically a good time to buy, if you have money to do such

You don't think this is the bottom, do you?

even after 1929 it recovered.

Many folks who play the game will tell you, if you find a company that is sound and that went down... it is the time.

But no, this is not yet the button, but it will recover. Of course I am looking at this as long term...

Unless you are buying short ETFs/put options or buying precious metals (I have made my position on PM's known in this forum).

This is just the beginning.

Any bounce the markets see because of this morning's rate cuts will be of the dead cat variety, IMO. This bounce won't last a month, probably not even a week. Just enough time for the smart ones to get out, and the really dumb ones to jump back in. The real fire-sales won't be ready for quite some time. This is just a head-fake. If you want to lose alot of money soon, stay in and/or buy more "sale items".

Shorts/bears rule the quarter and probably the year.

They should've just let the bloodletting continue without the rate cuts (they should be RAISING rates), but nope: they are making things much worse down the line and the market will continue crashing anyway. The Fed is the markets' crack dealer and the market just got another "fix" at the expense of us and our children and our children's children.

Stagflation/depression: here we come!

JMVHO.

... I think the markets might EVENTUALLY recover, but I'm thinking in terms of at least a year and probably longer.

But then again, this crap could easily go on for years, since it essentially feeds on itself and there's not much to stop it.

It's taken (depending on various theories, of course) a long time to get to this point. It doesn't mean it *has* to take just as long back, I don't think, but this is going to last longer than a year.

Some are estimating into 2012 before things get considerably brighter.

that she feels that we have quite a bit further down to go.

As per 'Mad Money', "THEY KNOW NOTHING!"

the market WILL recover. How long did it take the market to recover from THAT one? We are not talking a year or two. We are probably looking at anywhere from five to ten years, and no, we have not hit button yet

But this is the time to start thinking on a VERY LONG term investment strategy

You want to go short, yep, metals

this might be a long day

It would allow people to seek out true investments back in their communities with modest returns, but not at the expense of bankrupting pension funds.