second great depression here we come....
 

The largest bank failure in united states history just happend...

http://news.yahoo.com/s/nm/20080926/..._jpmorgan_news

"Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. "

"Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said."

"It also plans to sell $8 billion of stock, and take a $31 billion write-down for the loans it bought, representing estimated future credit losses."

"Shares of Washington Mutual plunged $1.24 to 45 cents in after-hours trading after news of a JPMorgan transaction surfaced. JPMorgan shares rose $1.04 to $44.50 after hours, but before the stock offering was announced. "

the economy will be fine my ass....keep an eye on the stock market tomorrow

discuss.

Re: second great depression here we come....
 

Bring it.

Any further delay with fake ass government prop-ups will make it worse later on. Let's do this.

Re: second great depression here we come....
 

just makes me want to ship out even sooner.

i knew this was coming.

Re: second great depression here we come....
 

Ready for the economy to collapse?

From another forum:
Latest Federal Reserve figures this evening indicate they 'printed' up $350 billion in new money over the last week.

Anyway, if this extra money is not withdrawn from circulation in a relatively short time, like a few weeks, the US may experience a commodities price boom not seen since the devaluation of the dollar in the early 1930s.

Alternatively if this money is withdrawn now, you can count on a stock market crash.
http://www.federalreserve.gov/releases/h41/Current/

Re: second great depression here we come....
 

Why do you think its only the second?

1797–1800 3 years
1807–1814 7 years
1819–1824 5 years
1837–1843 6 years
1857–1860 3 years
1861–1865 Decades in the South
1873–1879 6 years
1893–1896 3 years
1907–1908 1 year
1918–1921 3 years
1929–1939 10 years
1953–1954 1 year
1957–1958 1 year
1973–1975 2 years
1980–1982 2 years
1990–1991 1 year
2001–2003 2 years

Almost all of it caused by god damned republicans or their ideals.

Re: second great depression here we come....
 

you guys suck, let the ---- ------- crash ok? then buy stocks, ride it when it comes back. and your golden

Re: second great depression here we come....
 

What's this I here about the gov't dippin' into the 401k funds in order to bail out these financial institutions?? I believe the gov't and these SO-CALLED financial institutions have failed the american ppl BIG TIME...

Re: second great depression here we come....
 

they just better not butt ------- republican bail companies out like they did with chrystler.
a company fucks up, its your god damned fault you desirve to go under.

Re: second great depression here we come....
 

there is a difference between a recession and "the great depression"

Re: second great depression here we come....
 

exactly, ^^^^^^