Wall Street.

[Oldtimer]

Correct me if I'am wrong but I think Wall Street sinking is a good thing.
I have nothing in stocks, bonds, etc. because I live month to month on my Social Security check.
With Wall Street sinking oil is dropping so fast isn't the price of food , automobiles, homes, anything you can think of be dropping in prices very soon?
Isn't that what we all want?
All the mill and billionaries dont need seven or eight bedroom five bath, four car garages. Let them lower their lifestyle and live like normal people
for a change.
They are the only ones that will be hurting for awhile untill they adjust their lifestyle from the rich and famous to the middle class and unknown.
There was no stock market back in the 30' and 40's was there? Everybody survived in them days living off the land and not off each others money.
If I hurt anybody's feelings I'am sorry

 

[undertaker]

Amen Brother!!!!

 

[scout943]

MAN YOU GOT THAT RIGHT!! SCREW THESE YUPPY PRICKS THEY GOT WHAT THEY DISERVED!!! NOW LET THEM PUT THERE LIPS AROUND THERE BMW EXHAUST PIPES AND BREATHE DEEP WITH THE ENGINE RUNNING!!!

 

[Captain Kilowatt]

Yeah it would serve all those millionaires that got rich running companies right if they all lost their businesses and had to close and live on the street. Think of all those hundreds of thousands of workers that would be happy to see their jobs gone forever.:headbang:headbang:headbang Think about the BIG picture guys. ​

 

[scout943]

THERE JOBS ARE IN CHINA NOW ANYWAY!! TAKE A LOOK AROUND NOT MANY COMPANIES THAT WHERE RUN RIGHT! JUST FOR GREED!!!

 

[Captain Kilowatt]

THERE JOBS ARE IN CHINA NOW ANYWAY!! TAKE A LOOK AROUND NOT MANY COMPANIES THAT WHERE RUN RIGHT! JUST FOR GREED!!!

And the few jobs that are left are the ones that will be lost.

Please define "right" when you say "TAKE A LOOK AROUND NOT MANY COMPANIES THAT WHERE RUN RIGHT! JUST FOR GREED!!!"

The bottom line is that a company is run so as to make a profit. Like it or not that is the SOLE purpose of a company.Unless of course you work for a state run not-for-profit-company and in that case you would be living in a communist state.Name a company that employs people simply because they care about them and don't care about making a profit. Any company.

BTW, Oldtimer I suggest you look up the Wall Street Crash of 1929 - Wikipedia, the free encyclopedia . There VERY much was a stock market in the '30's and 40's.In fact it goes back to before the 1900's.

 

[74IN]

Do any of these posters work?

Or use consumer goods?

 

[Oldtimer]

The only ones I see worrying are people with money.
Do the lower class people worry? No.
They dont have anything to loose, only to gain.

 

[Captain Kilowatt]

The only ones I see worrying are people with money.

Then you had better open your eyes. The normal working Joe is the one with the most to loose and we, yes I said WE, are worrying.The average Joe has a mortgage to pay, a car or two to pay for, and maybe even a kid or two in colledge.That does not make him one of those "with money". I am not rich. My wife and I both have to work. I work in an industry that is heavily dependant on the economy and is feeling the pinch now and it has only just begun.

Do the lower class people worry? No.
They dont have anything to loose, only to gain.

Not sure what you call "low class" people but in reality EVERYONE will loose. When there is no more money for food banks and shelters etc they too will close.The rich may be the first and loudest to whine but in the end EVERYBODY will be effected and not in a good way. Those living on a monthly cheque from the government such as social security, welfare etc. will not have to worry much as that is pretty much a guarenteed income, such as it is.Those are the ones that will not see much change either way but the guy that works for a living is going to be hurt. Just because oil is coming down does not mean food etc prices will follow. There are too many other factors thrown into the mix for that to happen soon.In fact the sharp decline in oil prices may be a symptom of trouble ahead and not a salvation from trouble past.

 

[74IN]

Those with real money will gain from this. They will gain real assets that are used to secure imaginary credit.

The people that will suffer the most will be small business and those that work for one and big business employees.

 

[74IN]

Those living on a monthly cheque from the government such as social security, welfare etc. will not have to worry much

Not true.

Inflation can out strip any COLA's.

As the essentials cost more and more, I doubt the checks will grow in proportion.

 

[Captain Kilowatt]

Not true.

Inflation can out strip any COLA's.

As the essentials cost more and more, I doubt the checks will grow in proportion.

True but if we are headed in the direction I believe we are prices will not climb sky high and the income from SS or welfare cheques is pretty much guaranteed. I believe prices will not sky rocket because there will be lessened demand brought about by the fact that people will be spending less money because they have less to spend. This has already been cited as one reason for the decline in oil prices.

 

[74IN]

I think the real problem is a devalued currency.

The Fed floods the money supply, making the dollar worth less.

Costs remain the same, so prices don't really go up, the cash has less worth.


On the up side, maybe you Canucks can vacation in the States much cheaper soon.

 

[Captain Kilowatt]

I think the real problem is a devalued currency.


On the up side, maybe you Canucks can vacation in the States much cheaper soon.

Obviously you have not seen what the Canuck Buck is worth compared to what it was worth last year. It is the lowest it has been in over three years now and is below 80 cents US down from a high of $1.09 last winter.

Today's cartoon in the paper:

 

[74IN]

Bummer.