Rolling US Economy Into The Shitbin Thread

wow that graph is kinda amazing - hadn't realized the volume of trading had increased so dramatically post-'87

wow my 401(k) is down 30%

Haven't checked mine. Have some in some kind of Life Sciences fund, gonna hit that cure-for-cancer jackpot.

"Brian, you know they have a cure for cancer and a cure for AIDS.

Are they Outkast??

http://www.cnn.com/2008/US/10/08/chicago.evictions/index.html?iref=mpstoryview

oh man

http://finance.yahoo.com/q?s=MMM

OH MAN

(I used to have an alert set that would ping me on the rare times this dipped below 75)

wow my 401(k) is down 30%

When mine was down 20% I was all like hmm I really should shift everything to bonds but then I got, y'know, busy at work.

Hey gabbneb, it looks like Portfolio.com, is working for the GOP now

"The stock-market plunge is good news for Barack Obama, too. I haven't done the exact calculation, but total US stock-market losses per household over the past year are now approaching the $100,000 level. There's simply no way the incumbent party can win an election in that kind of environment."

wow look at the Nikkei!!

will they suspend?

holy god. 11% in 45 minutes?

that would have auto-suspended on new York. Holy crap.

http://i35.tinypic.com/90umns.png

tomorrow is going to be a strange day.

i wish i had money to buy things with

we gonna die

i wish i was in finance right now - how fascinating!

FTSE and dow could be carnage tomorrow. Could be the big one?

emergency rate cut (again)? Do they know any other tunes?

i was at my sister's the other night, and her friend was over. dude is an i-banker and i really wanted to ask about the situation but felt it would be like asking someone about their recently murdered loved one or something

at one point do we light out for the territories

one = what

lol beer on a thursday

i have 2 childhood friends that im in sporadic contact with who manage a hedge fund - i really want to email them but i am afraid

"soooooooo....what insights can you provide on our recent calamitous financial situation?....buddy. hey do you remember that time with the animals and the one mean teacher?? oh man! but seriously, you're like the only person i know that might even know"

their whole thing is risk management - theyre v conservative by hedge fund standards and claim that their strategies protect yr $$$ in a down market - im really curious to hear if its working

i could prob just ask someone whos in more regular contact w/them

I'm flying up to Maine to be with family for a few weeks so if the shit hits the fan it was nice knowing yall

wish i was in finance right now - how fascinating!

hahahaha no, no you don't

ah what do u do lamp?

If you were in finance right now you wouldn't be in finance right now.

i would so be in finance i would be the king of finance so there

Steve Coll has a pretty good post summing up one of the major problems with the current regulatory framework and implicitly makes a pretty good case for further gov't intervention in the markets

xpost ice cream until recently i was an associate at a large FI but now i work in PR

japan can't cut its rate, it's already grazing zero. Guess the big fear next up is deflation.

why is this shit always going down in October?

does fi stand for finance something - were u there when shit stared to get crazy - what was it like ???

ice craem congratulations on yr promotion, for you are now... http://www.helstar.com/

ty ty i could not have done it w/o the posters of ilxor.com

lol omg it's all over

does fi stand for finance something - were u there when shit stared to get crazy - what was it like ???

FI = financial institution i worked in lol credit risk mgmt proof enough i suppose that the wrong ppl we're running the black boxes i quit like 1.5 yrs ago now (!!) tho and the place i worked is in pretty good shape but i cant really take credit either way. most of my friends from school work(ed) in finance and it is... not good now. most ppl are jumping to private equity/hedge funds i think

do u understand derivatives

F'(x) = f(x)

what does a math dude do in pr

sudoku?

i work for a lot of finance lawyer guys, asked one of them jokingly about this a few weeks ago, he was pretty much like don't worry about it, our economy's the strongest in the world, etc. etc. but who knows

ah no one know anything fuck it

^^^ perfect for job in finance

seeee

been talking with a very successful veteran broker throughout all this, who was very concerned about bad mortgages 3 or 4 years ago, and who has been completely on point so far, and who says that neither he, nor anyone else he knows has ever seen anything like this, that it is of a totally unprecedented order and magnitude, that there is no telling whatsoever what the bottom will be, except that we're nowhere near it, and that there is absolutely no way to fix or even mitigate it at this point.

</bummers>

Forget the 1930s shitbin; this guy's all about the 1870s shitbin:

In fact, the current economic woes look a lot like what my 96-year-old grandmother still calls "the real Great Depression." She pinched pennies in the 1930s, but she says that times were not nearly so bad as the depression her grandparents went through. That crash came in 1873 and lasted more than four years. It looks much more like our current crisis.

see now theres no way we cant mitigate it - thats saying that it doesnt mater what anyone does - which just seems patently absurd to me