? Black Monday?

[Mahonri]

Are we all ready for the meltdown tomorrow?
http://uk.news.yahoo.com/rtrs/20080914/tbs-uk-markets-global-7318940.html


I figured it wouldn't happen until October or November.

I should have got out of the market 6 months ago. Oh well... I'm glad I have some cash, food, gold and 8 acres of farm land. House is paid for free and clear, maybe we can survive on eggs?

 

[English Chick]

Keep safe my friend. Much the same happening here...the world is going crazy.

 

[OHMYCHICKIES]

I really wonder what we're gonna be in for

 

[Poulets De Cajun]

I'm moving to Canada....

 

[bluey]

Well considering that the Fed was trying to arm wrestle the major banks and brokers into buying or dividing lehman amongst themselves without a fed bailout, I'd say that the attempt was a failure. The fact that Bank of America and Mother Merrill are talking about merging leads me to believe that we will see at least one bankruptcy and possibly two or three in the coming week...

I think we need to see this happen to flush out the financials...

Hiding bad investments on their balance sheets is way too prevalent and it's about time the government made somebody pay the piper for poor investment decisions. Everybody loves when stocks go up like crazy and forget that sometimes they are well overvalued and that there is risk as well....

Maybe if the Fed demanded the financials to have more transparent balance sheets like every other company, we wouldn't be in this mess. The financials have brought this upon themselves...

 

[Jessika]

Think good thoughts! As my Grandma used to say....hope for the best but prepare for the worst.

 

[Mahonri]

I'm seriously worried that we'll see some more bank failures this week. My bank (Chase) is way in over it's head with BAD loans. Forget Bank of America... 6 months ago they were courting illegal aliens as clients here in Phoenix, I can't even imagine how they could think of taking Merrill Lynch on they are not solvent enough.

This is scary stuff and with some folks back east now paying over $6.00/gallon of gas, it's time to hunker down and prepare for simpler times John Boy. Good night.

 

[Poulets De Cajun]

Quote:
I guess I'd be more worried if I actually had a bank account with ANYTHING in it...LOL

Between the price of putting gas in the car, and the electric bill, we barely have anything else to pay for the rest of our bills.

 

[Mahonri]

Well, the electric bill should soon start to decrease with cooler weather, use any extra $$ to store some food for a rainier day. You may need it.

 

[2manyhats]

Quote:
I guess I'd be more worried if I actually had a bank account with ANYTHING in it...LOL

Between the price of putting gas in the car, and the electric bill, we barely have anything else to pay for the rest of our bills.

That's just what I was thinking.