Are you affected by the current economic crisis ?

[TempoKing]

How will I buy more Rolex watches..??

I was expecting that the 700 billionS would help,
they did not,
I think we need a couple of trillions.
Then when I heard half a point down for interest rates,
I said..wow, surely the billions and the lower rate would do the trick and we will do well again.
Well, nothing happened....

England this morning gave the same amount of billions to their banks and THEY NATIONALISED the system.
..humm..I think we should teach the "golden" boys a lesson and do the same here.
Greedy "mothers" these Wall street big shots and CEO's.

Now I expect another lower rate by yet another half interest point and more billions,
I think that the more they give to this trully sick U.S. economy, the bigger the hole
will get and our problem is of a Mega size now-bigger than they tell us .
.no one is trusting anyone, the banks, the institutions the stock market etc.
I honestly think that the 1930's are here again.

But ask me... would all that stop me from buying another Rolex..??....Nope it will NOT..

[JJ Irani]

Out of the question here, my friend.

The NZ Dollar has plummeted from a whopping 80 US cents just a couple of months ago.....down to under 62 US cents.

Rolex prices here will be affected....for sure.

Rolex buying days are over......I think!!

[Tools]

The world is experiencing a much needed correction of the excesses of the past decade of individuals and corporations living beyond their means..

Once the dust settles, things will have a base to start off with again...

[SLS]

Anastasios, the economy, coupled with the recent price increases, will hurt the AD's more than it will affect you I would think. To answer your question though, Yes, the economic situation that we are faced with is effecting everything around us, whether we realize it or not! Unless I see a great deal, I am hanging on to my cash!
~Scott

[mrkool]

well i have been only putting money in my 401k for about 5-6 years (my whole professional life ) and i have lost 15% already i feel really bad for people that had huge 401k plans and lost tons of money they were going to use for retirement.

well with the bad economy though the market should be flooded with used rollies at very low prices

[chicagowatchman]

well with the bad economy though the market should be flooded with used rollies at very low prices[/QUOTE]


I think this is going to be a huge issue for rolex watches esp in NYC!

I am holding on all spending right now till the dust settles......Its like a ghost
town in Chicago on some days

God help us all through these tough times

[JJ Irani]

Originally Posted by JJ Irani

Out of the question here, my friend.

The NZ Dollar has plummeted from a whopping 80 US cents just a couple of months ago.....down to under 62 US cents.

Rolex prices here will be affected....for sure.

Rolex buying days are over......I think!!

Boy oh boy.....just checked. Our Kiwi dollar is down to .6003 US cents....and FALLING!!

[mretzloff]

We could get together the brightest men and women in the world, sit them down, and let them come up with a solution and still we we wouldn't get anywhere. The fact of the matter is that credit is to blame. If you are one of the millions who only pay the minimum payment each month on your credit card, shame on you. It's people like that and big shot CEOs who use money they don't have that cause these problems.

[chicagowatchman]

Originally Posted by mretzloff

We could get together the brightest men and women in the world, sit them down, and let them come up with a solution and still we we wouldn't get anywhere. The fact of the matter is that credit is to blame. If you are one of the millions who only pay the minimum payment each month on your credit card, shame on you. It's people like that and big shot CEOs who use money they don't have that cause these problems.

:c lap:

[Rolexitis]

What the Bailout should have been is as follows: If they gave every registered voter in the US over the age of 21 a relief (refund) for $220,000 then that would bail us out(= $700 Billion). It would stimulate the economy because people would pay off a large portion of thier mortgages, cars, debt in general , etc etc. It would have benefited us for ONCE instead of the Govt. in the long run. Now my kids will see the negatives of it in years to come and it's just a drop in the bucket to the trillions we owe already!!!

[Yume-sama]

Canada is somewhat effected... but as for me, kind of... but not really. I don't do stocks, and the only thing I have to worry about is the real estate market softening a little bit, though where I live prices have doubled and tripled in the last few years and are unlikely to go down back to where they started (average was around $180,000 in 2002 and now average $617,000)

[Ed Rooney]

In 3 weeks we will have forgotten all about this.








Mostly because of the alcohol.

[rocco1109]

Originally Posted by TempoKing

How will I buy more Rolex watches..??


I said..wow, surely the billions and the lower rate would do the trick and we will do well again.
Well, nothing happened....
[/B]

Do WHAT trick? What do mean, "nothing happened?" Neither the infusion of billions or the 1/2 point drop in interest rates is a quick fix.

It sounds like your comment is based on the world's stock markets?

The overall health of the economy and the day-to-day ups and downs of the stock exchanges are two different animals.

[mretzloff]

Originally Posted by Rolexitis

What the Bailout should have been is as follows: If they gave every registered voter in the US over the age of 21 a relief (refund) for $220,000 then that would bail us out(= $700 Billion). It would stimulate the economy because people would pay off a large portion of thier mortgages, cars, debt in general , etc etc. It would have benefited us for ONCE instead of the Govt. in the long run. Now my kids will see the negatives of it in years to come and it's just a drop in the bucket to the trillions we owe already!!!

How would that have helped everyone? Didn't we try that with the $600/$1200 thing after tax day? It's apparent that did nothing. Also, what's to say the people would use the money to pay off debt? I guarantee you that most people would just turn around a buy a Mercedes or renovate their house.

But hey, here's the good news, it's my generation that gets to clean this up

[Yume-sama]

If everybody in the USA was to receive $220,000 inflation would be UNIMAGINABLY huge. Besides, you really can't trust people to do the right thing with money. This is why you always hear stories of lottery winners going bankrupt, and end up OWING money. This is why I think it's funny to hear everybody speaking out against this bailout, like they all the sudden decided they are economists instead of driving trucks or whatever. Yes, you can't have a "Wall Street" without a "Main Street" but you sure as hell can't have a "Main Street" without a "Wall Street" either.

[Quicksilver]

I am realy not happy with the UK taxpayer having to bail out the banks here in the UK. But I think it was necessary - the net result of not bailing them out would have been worse. It was a no win situation.

Anyway, £2,000 of my hard earned cash has been given to the UK's banking system today (£2,000 for every UK taxpayer) to bail out a bunch of greedy louts in the City who have each been earning £10 million a year for the past 20 years and have now brought the country to its knees.

I think this whole experience will be a wake up call for the rich economies. We are going to have to do things differently in the future.

[Ed Rooney]

Most of us will be hit in our retirement pocketbook, but if you thought your 401k would simply grow and grow in a straight line, well, that's your fault. It will all average out by the time you hang up your cleats. The terms Bull and Bear market weren't just invented. Now is the time to max out your 401k contribution. You need lows to get to the highs. This is when we make money!!

[Timber Loftis]

I think we are *all* affected by the current crisis.

Lending drying up is a scary thing, and delves into all corners of the economy.

[eric23]

I don't think I will be buying an new watches for a while but I am happy with the two I got this year.

If I had some spare cash I would buy some stocks right now they are few deals out there right now.

[Rolexitis]

Originally Posted by mretzloff

How would that have helped everyone? Didn't we try that with the $600/$1200 thing after tax day? It's apparent that did nothing. Also, what's to say the people would use the money to pay off debt? I guarantee you that most people would just turn around a buy a Mercedes or renovate their house.

But hey, here's the good news, it's my generation that gets to clean this up

Matthew: you can't compare $600 / $1200 to $220,000! I know you are young and don't have a mortgage, kids, multiple car notes, etc etc. but $220,000 would help ALOT of working class people in MANY ways. Most would be injected right back into the economy plus TAX. It would get alot of people out of debt which in turn releases alot of accounts that are tied up. Just my 2 cents man.

PS. I spend $600 per month on childcare alone.

[B Square]

The meek, the weak, and the scared will always run. The strong and wise will always stand and prosper. That not only applies to the market but to life in general. As told to me by my Dad, over 50 years ago.

Boyd

[bodybump]

I think it will take more time before we feel it...700 billion is a lot of money and they need to print and distribute it very carefully...i was reading an article about that 700 billion USD and it will cost US to print less than a dollar...so where again the money is going?? Lehman exec was put on the stands and ask "you made $409 milion dollars from salary and compensation are you willing to give back the money to the people?? and he said NO" hahahahahaha

[2careless]

This weekend will be interesting to bet - G7 minister meeting to save the bacon. I think 60-40 they won't agree on anything.

[Bisquitlips]

You gotta love us Yanks! We cause all the world's problems and our currency goes up in comparison with most of the world's.

I bloody love it!

[2careless]

Originally Posted by Bisquitlips

You gotta love us Yanks! We cause all the world's problems and our currency goes up in comparison with most of the world's.

I bloody love it!

Wait until China stops buying and starts to dump US T-bills.
It's really good time to start buying RMB.

[Bisquitlips]

Originally Posted by 2careless

Wait until China stops buying and starts to dump US T-bills.
It's really good time to start buying RMB.

Well, that could very well be considering China owns 95% of the USA!

[sea-dweller]

My investments (stock mutual funds) have been 'hit'. I was planning to retire in 12-15 years, but now, this has probably been delayed somewhat. We are also re-thinking any vacation plans we had. In a word, this SUCKS !

[C. Davidson]

Originally Posted by Tools

The world is experiencing a much needed correction of the excesses of the past decade of individuals and corporations living beyond their means..

Once the dust settles, things will have a base to start off with again...

Best way I've heard it explained.

[walds11]

I am in the banking biz and it sucks!!! Other than my 401k and investments getting smashed, everything else is on the up and up.

[Parachrom]

I was in my forex account on the day the 700 billion was denied by congress, and shorted the US dollar against other curencies. My SDDS is closer today . I keep a watchful eye on it. For every black cloud ther is a silver lining. Example In canada we had a listeriosis outbreak and maple Leaf foods was responsible 18 people died. Their stock tanked from 9 s aher to 5.40. I bought in a 6,10. Now maple leaf is owned by the Mc xcain family and they are4 not gonna let it go bust. The CEO stood up on national television apologized for the deaths and said "the buck stops here. That same day I rode the wave to 8.25 and got stopped out at 7.95 Nice profit. SDDS getting closer