How much money did you lose on Black Monday?

Yipsy · 2024-08-05T17:12:05+00:00

It isn't over but I will start off by singing a lyric from a classic song by The Cars. My best friend's girlfriend used to be mine.

jsippy73

Not to thread jack but, with inflation the way it is in practically every category your money is worth less everyday. Answer is to withdraw it all and spend it as fast as you can (new driver, new putter, new car, etc).

Par4QC

jsippy73 with inflation the way it is in practically every category your money is worth less everyday

Well good!!!
That will only serve to bring prices back down. Think about it.......

No one can buy X product because they don't have enough money.......company selling X product will go broke if they cannot sell............company has no choice but to lower prices.
People do have enough money. And they only buy what they can afford(for the most part/smart people).

My $1 will buy as many $1 products as it did 20 years ago. (read that again)

Weirfan

Par4QC Yeah, 'some' people just don't get it.

Giphy - dumb barack obama GIF by Obama

garyt1957

Yipsy All the old rules like the one you just shared will soon no longer apply.

They've been saying that as long as I've been investing. "This time it's different" No, no it's not.

rsvman2

It's called a correction. They happen, and this one was expected.

garyt1957

I've been 100% invested in equities all my life. Currently about 80-20. I've been retired for about 5-6 years drawing some money out to live on. Currently have twice as much as I had as when I retired. I see no reason to change the course. If catastrophe hits and the market drops 50% in the next year or two I'd still have the same amount I had when I retired with 7 less years to live.

darpar

Years ago somebody wrote a book titled "The Dow 50,000".
At the time I thought, 'you have to be kidding me'! (I still think that)
Then we saw the Dow reach 20k,30k and most recently the Dow creeped over 40,000 points.
In the stock market or any form of investing you just never really know what the futures holds....

I do know this though,if I hadn't taken some of the MANY somewhat educated _risks_I've taken in the past,
today I probably wouldn't even be able to afford this damn PC I'm typing this on right now!
Some of the wisest information my grandpa ever gave me...'use $$$ to make more $$$$$$!'
"But always keep an eye on it!"😉

Bravopilot

azgreg Is Macao really a country? There are more nations with no public debt.

azgreg

Bravopilot
It's what I saw in a Bloomberg piece. I guess it's not entirely a country, more of a territory of China apparently.

SMT

Bravopilot

I thought it was a bird. hahahaha

Giphy - parrot GIF

Weirfan

Giphy - Rabbit Hole Adam GIF by Gogglebox Australia

Par4QC

Yipsy I hope this tarries until you no longer need your money. You seem contented with a potential 50% loss. What if it's 100%?

Yipsy People are prone to keep throwing dice until they're completely out of money.

For the benefit of us all, please let us in on what will happen when everyone, every business, and esp....every country in the world has no money. Which is an ABSOLUTE....impossibility.

Does life cease? Will the rivers and oceans overflow their banks, with all the bodies that jumped?

I was going to be a nice guy the rest of the year on here, but............what a fucking dope!!

SMT

Par4QC I was going to be a nice guy the rest of the year on here, but............what a fucking dope!!

LMAO

garyt1957

Yipsy You seem contented with a potential 50% loss. What if it's 100%?

I'm not content with any loss and if it's 100% we're all fucked. You seem like a doom and gloom guy. I can't be that way or maybe I just refuse to be that way. But you do you.

Sneakylong

Yipsy People trying to make a buck will always say this. No interest in making a buck on my end.

This time may not be different. That has expiration. One of these times the cry wolfs will be right. That time is close

You were spewing the same chicken little garbage when you posted this under Toulon. Again, as was pointed out to you we hold most of our own debt. We have the strongest economy in the world.

Is it possible the big banks could screw up again like in 08 / 09 and risk bringing down the economy? Yes. That’s why regulation is a good thing. We tied laissez-faire economics and it helped give us the Great Depression.

Btw. A good book (Michael Lewis) / movie is The Big Short. Tells the story of the few who saw the sub prime mortgage mess a couple years before the shit hit the fan and shorted it. But I digress.

Par4QC

Yipsy Why would anyone need money.....when no one has money?

Do you think when all money runs out, is completely gone, that people will not still do what they are doing now?

Par4QC

Yipsy in the belief your money will always be safe

I never said that. Have never even thought that. You are the one worried about money and saying it will be gone soon.
I'm merely saying....."so what"?

Par4QC

Yipsy I'm glad you've already accepted it.

There really is nothing to 'accept'.

If 1 person only, had all the money in the world, what good would it do them? They will not pay you for anything, buy anything, give anything because they would not have all the money then. It is why they have all the money; they wanted it all.
But it does them no good.

If the banks have no money, and you have a mortgage, and no money....will they kick you out? 🤔

Weirfan

Don't forget that this is the clown who was certain that the grocery store poisoned his family's milk amongst the other outlandish psychosis related situations that lacked any sense of reality.

azgreg

Yipsy You sound like you need help

Giphy - Pun Reaction GIF

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