"The Largest One Day Drop In The Stock Market Since 9/11"!!!!

[Rage for Order]

This was a news teaser on the local Fox station tonight. Is there NOTHING that these people won't attempt to tie to 9/11? Biggest drop since 9/11? Wow, now I'm not only worried about my investments, I'm SCARED too!

[givemebackmycountry]

1. Olberman was saying that on FOX NOISE this afternoon...

They were saying that the reason the stock market dropped so drastically was...

"The suicide bombers attempt on Vice Presidents Cheney's life"

I'm still laughing over THAT one!

[Cobalt-60]

3. yeah they heard it didn't work

Had Cheney's ticker seized, it would have been the greatest gain in history.

[opihimoimoi]

2. The Pub PsyOps in full swing here...rat bastards....always trying to steal our MINDS

[sweetheart]

4. identify with their wealth...

..otherwise they don't have a prayer.

[illinoisprogressive]

5. When Wall Street lays an Oct. 1929 egg, I'll worry. we all know the econ is tanking.

[Warpy]

6. I'm not sure it'll be quite that bad

but people in 1929 trying to protect their assets in the market sold off everything else they could until they just had to sell the stocks, themselves, to cover they debt they'd accrued in buying them.

Now people may have to sell stocks to protect their assets outside the market if they're drowning in unsecured debt plus an uspsidedown mortgage (the house being worth less than the mortgage).

Stocks on Black Friday in 1929 lost about 13%. There was one crash (1901?) where the market lost 50% of its value. I doubt the latter is about to happen, but if the housing crunch and debt crisis plays out the worst way possible, lots of us are going to get badly hurt.

If you want to know where Depressions come from, follow the DEBT. When wealth concentrates into too few hands and everybody else is forced into debt to compensate, that's when the money disappears, the consumer market collapses, unemployment soars, and we're in big trouble if conservatives are in charge.

The whole thing can be salvaged, but the conservatives in both parties are ill equipped to do the necessary things to salvage it.

[badgerpup]

7. If the market's down, does that mean gold/silver goes up?

I'm asking because I want to purchase some silver jewelry supplies, and the price is tied to what precious metals are doing.
If silver is down, then Ahm'a gettin' ma beads....

[On the Road]

8. It's Not a Perfect Correlation

sometimes stock indexes go up or down together with metals. Here's a graph of the Dow Industrials vs. gold over the last ten years: