Quote:
Originally Posted by guccilvr
I just don't get all the hype over this. We're NOT in a crisis. We're in a recession.. a recession that could possibly hit the 16 month mark. You can look at all the numbers out there and we're not even close to depression numbers. The market dropped 700+ points yesterday..but it was only a 7% loss. In '87 the market lost something like 22%.. so it's pretty pale in comparison. BAA numbers show a deep recession.. not a depression.. so I wish everyone would quit calling this a crisis.
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In the last year the Dow's lost nearly 30%. It didn't do it in one day, but it didn't lose 22% in one day in 87' either. Unless the article I read is wrong. I certainly don't remember a day where the market dropped 22% in one day, then again I didn't have much of a 401k or many stocks then.
Plus I think this situation is a little different. This appears to be a credit crisis, don't think that was the cause of the 87' drop.
All that said I'm not sure this bail out was the right way to go. I feel like something needs to be done... what? I don't have a clue. But if nothing else comes out of this I'm hoping people wake up and start living within their means. IMO, many people "need" way more then they actually do.