Stock Market Crash

Originally posted by One Big Mob
What is a gigaton, like a billion tons?

4.5 billion tons doesn't seem like a lot for everything that got built with concrete

For China's stat it's like building over 400 three gorges dams in 3 years.

That's what it looks like against the Chicago skyline as a single block

http://www.nytimes.com/2015/08/26/business/dealbook/daily-stock-market-activity.html?module=Notification&version=BreakingNews&region=FixedTop&action=Click&contentCollection=BreakingNews&contentID=47261479&pgtype=article

For now at least, the rest of the world seems to be on much better ground than China is. We'll see if that holds.

http://finance.yahoo.com/news/markets-surging-104721087.html

So we're in the clear now???

Or, maybe none of us are qualified economic analysts, and our biggest errors are going to be overreactions to news stories.

Originally posted by Digi
http://finance.yahoo.com/news/markets-surging-104721087.html

So we're in the clear now???

Or, maybe none of us are qualified economic analysts, and our biggest errors are going to be overreactions to news stories.

😛

Originally posted by Digi
http://finance.yahoo.com/news/markets-surging-104721087.html

So we're in the clear now???

Or, maybe none of us are qualified economic analysts, and our biggest errors are going to be overreactions to news stories.

Judging by some prominent analysts, you become a qualified economic analyst by saying you are though..

Could something like what happened in Greece happen to Americans? I mean could we one day wake up to find that the banks have closed shop, and people have a tough time even withdrawing 50 dollars from an ATM, or that they would be turned off completely? The reason for this question is, I recently saw a Youtube video from Ron Paul about this exact subject. Can anyone validate his claim???

No, this could not reasonably happen. The US debt is not a real problem, there's no danger of the US defaulting on anything (except perhaps for political stunts).

Originally posted by jaden101

That's what it looks like against the Chicago skyline as a single block

"We Are the Borg. You Will be Assimilated. Resistance is Futile."

Originally posted by Bardock42
No, this could not reasonably happen. The US debt is not a real problem, there's no danger of the US defaulting on anything (except perhaps for political stunts).

LMAO. How ignorant you are. The U.S is headed for a crash in the not too distant future that will make what happened to Greece pale in comparison. It's amazing how you never fail to make me laugh every single day with your utter cluelessness on everything American-related. "U.S. will never default". 😂

Yeah... right. 🙄

When, not if, the dollar loses it's status as the world's reserve currency in the near future the U.S. will default not too long afterwards and there's nothing anybody will be able to do to stop it.

Well, I wouldn't say never. But there's no immediate danger of it happening.

I'm glad I make you laugh though, when so many others annoy you enough to ignore them.

Originally posted by Digi
http://finance.yahoo.com/news/markets-surging-104721087.html

So we're in the clear now???

Or, maybe none of us are qualified economic analysts, and our biggest errors are going to be overreactions to news stories.

In the clear? Yeah, right:

http://www.aol.com/article/2015/08/25/us-stocks-extend-losses-as-early-rally-fades/21227342/

Originally posted by Time-Immemorial
This is what happens when you grow the government for 7 years and raise taxes, instead of investing in America, bringing Jobs back to America and lowering taxes on the middle class.

Uh, do you realize the stimulus was an investment in infrastructure and added jobs, while the Republicans were the party against investment? And it included tax breaks to the middle class?

And you invest by spending money, aka taxes, or raising debt, aka what the Republicans threatened to crash the country's economy and default over? And that shrinking the government is literally the opposite of investing? I.e. if you're spending money on, say, roads, bridges, and small business loans, that money is going through the government?

And the republicans wanted to redirect things to tax breaks to the rich, which, unless they were willing to raise the debt much more, means taxes on the middle class?

There was literally a Republican plan in recent years- the famous and heavily supported Ryan plan- that they calculated could only be done by raising taxes on the middle class due to a combination of it's debt and upper class tax break promises. Yes, this is a real thing. The Republican party supported a plan that'd require raising taxes on the middle class to lower them on the upper. (“According to this report, while millionaires will receive a huge tax break, earners making under $200,000 will see their taxes rise significantly,” said Sen. Robert P. Casey Jr., who chairs the Joint Economic Committee.)

3/4ths your buzzwords line up to the opposite of what each party does. The Democratic party invests- in the literal sense, of 'spending money on America'- the Republican party doesn't.

Originally posted by Surtur
So are we in for another depression? Should I start preparing for some black blizzards?

Nah, not so big. This is likely what's normally called a 'correction'- and partially fueled by China's problems, I think.

Or I should say, *probably* a 'correction'. Since there's no big event that triggered it, nothing like the '07-08 crash, there's probably nothing to keep it going down, and other people taking advantage of the low prices will buoy it soon enough, but economics can be unpredictable.

We'll know more in a few days.