The market is crashing, why hasn't the government stopped this? - Page 3 - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

SeattleUte · 10-10-2008, 01:11 AM

Quote:

Originally Posted by Tex

I keep hearing people say, "Worst economic times since the Great Depression," including all the time from Obama.

This tagline really confuses me. Have we lost all sense of proportion? Have you seen photos, histories, stories about what times were like during the Great Depression? Does anyone remember the 1970s? Hello??

Of course current conditions are serious, and of course, it could potentially get a lot worse. But economic times are FAR off what the Great Depression was like. I've said elsewhere citing the GD is the equivalent of bring up Adolf Hitler in a debate. It's weak. It's a copout.

Unemployment is at 6% for crying out loud. Six percent. That's a far cry from 25%. I get tired of this constant whiny, panicky pessimism that wants to turn every economic downturn into the "Worst Ever" (cue scary music).

Bush is not the worst president in the history of the country. These are not the worst economic times since the Great Depression. Go pick up a history book and gain some perspective, folks.

Tex, it wasn't like that in 1929. The stock market crashes because it anticipates 1933.

Tex · 10-10-2008, 01:44 AM

Quote:

Originally Posted by SeattleUte

Tex, it wasn't like that in 1929. The stock market crashes because it anticipates 1933.

Then say, "we are at risk of becoming ..." or "if we don't act, it's possible that ..."

I realize that doesn't pack the political punch of, "THESE ARE THE WORST" but it's just plainly not true.

Cali Coug · 10-10-2008, 03:05 AM

Quote:

Originally Posted by Tex

Mmmm, not sure that's accurate. If memory serves, 1929 and 1987 both were roughly 20% in one day.

It was actually the 11th worst in history. Still not great. 1929's largest drop was about 12% apparently.

8ballrollin · 10-10-2008, 03:49 AM

Well, Asia is off to a roaring start this Friday...

http://finance.yahoo.com/q?s=%5EN225

SeattleUte · 10-10-2008, 04:03 AM

Quote:

Originally Posted by 8ballrollin

Well, Asia is off to a roaring start this Friday...

http://finance.yahoo.com/q?s=%5EN225

Just remember, I'm the one who said the markets would keep falling. I hope I'm wrong.

10-10-2008, 03:49 AM	#24
8ballrollin Senior Member Join Date: Jan 2006 Location: WA Posts: 1,287	Well, Asia is off to a roaring start this Friday... http://finance.yahoo.com/q?s=%5EN225 __________________ "Five to one... One in five No one here gets out alive"