That, children, was the sound of the US economy imploding.

[chibi_trillian]

HOLY HELL.

Man, I feel like I should be watching the stock market with popcorn or something. This is simultaneously exciting and terrifying.

Comments

[skyrat13.livejournal.com]

Crap. Is it worse than 1987 yet?

[chibi-trillian.livejournal.com]

The Dow-Jones Industrial Average was down 700 points when I made this entry right after it was announced that the House rejected the bailout bill. It's sort of rebounded up to a less horrific 500 points now. Then again, there's still an hour and a half of trading time left in the day.

[skyrat13.livejournal.com]

Yeah, I looked at the article. It said it was the 4th worse drop in history, making me wonder how it compared to '87, being the worst crash in my personal lifetime (no clue how far own it was then, I just recall how bad it looks on a graph.)

I've been pretty laid back and optimistic about things in general, but I'm actually starting to get a little worried. My family's money is tied up in the stock market like woah. Soooo glad this is happening after both my sister and I finished college.

[chibi-trillian.livejournal.com]

Points-wise, this is probably bigger. As a percentage of the market, though, '87 was probably worse. We'll have to watch and see.

[3goodtimes.livejournal.com]

Dear god! D:

Ladies and gentlemen of the world, I give you unchecked capitalism at it's best. Now everyone hide under a desk and cry.

[chibi-trillian.livejournal.com]

Capitalism-Bot says: THIS IS JUST A MINOR MARKET CORRECTION. THERE IS NO NEED FOR ALARM. GO ABOUT YOUR DAILY LIVES AND FOR THE LOVE OF GOD SPEND SOME MONEY.

[nike-victory.livejournal.com]

While I'm not happy about the stock plunge, I've been kind of expecting it for years now. And while I firmly believe something must be done, I must also admit that I'm glad the bailout plan failed to get past the House, because the last time I looked at it, it needed some major re-writing if we didn't want a financial dictator on our hands.

[chibi-trillian.livejournal.com]

They'd actually nerfed a bunch of the parts where Paulson would have had unlimited access to $700 billion. The version that went to vote had him getting $100 billion to start with and then Congress and the President got to decide whether to give him the rest in increments.

[nike-victory.livejournal.com]

Ah. That would've made it a lot better.

[animatrocor.livejournal.com]

Oh lawd this is NUTS. I'm kinda glad to be living in Canada or I think I'de be a lil nervous. Canada owes what..$0.00? Yeeeah..wtf America. WAR OBVIOUSLY ISN'T HELPING NOW, IS IT?

I feel so frikken bad for my American friends right now D8 America's gettin a hueg face slap now tho, that's fo sho. O_O;

[animatrocor.livejournal.com]

On the contrary I am prolly just rly ignorant and dumb so plz spare my lifes..it's just an opinion XD

[chibi-trillian.livejournal.com]

America's getting pwned good and proper, largely due to the things that make America great: greed, underregulation, and stupidity. The bad part is that when the American economy goes spastic, it tends to take the rest of the world with it.

[animatrocor.livejournal.com]

Man, that's for sure O_O;
Today my mom was like "I took my money out of the stock market so I'm not worrying about anything." And I'm like "Wow it rly does effect every country, huh?"

SAD. D8

[alita-b-angel.livejournal.com]

Time to gather your tin cans and ready for the depression?

[chibi-trillian.livejournal.com]

Seems like. We'll all be pawning our jewelry for food soon (actually, the "WE BUY GOLD!" signs have started popping up in Baltimore already). I'm suddenly glad I never got around to starting a 401(k).

[proletariat-x.livejournal.com]

I was livid when I heard the house shot down the bill.

[chibi-trillian.livejournal.com]

I was rather surprised, given that virtually everyone figured they'd suck it up, be men, and pass something that was going to hurt a little right now to prevent a lot of hurt later. But OH WAIT, IT'S AN ELECTION YEAR. *facepalm*