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A Trillion Dollar ($1,000,000,000,000.00) hit toda

JamesRKJamesRK Member Posts: 25,670 ✭✭✭
edited September 2008 in General Discussion
I heard on the news a little while ago that the stock market took a one trillion dollar ($1,000,000,000,000.00) hit today. It sounded bad when they were talking points and percentages, but when they put a dollar figure on it, it gets your attention.

Almost makes me glad I was already poor.

Edited to change $1,000,000,000.00 to $1,000,000,000,000.00
The road to hell is paved with COMPROMISE.
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    spryorspryor Member Posts: 9,155
    edited November -1
    It's mind boggling the amount of cash that trades hands on a daily basis
    in markets. IIRC the Forex trades about three trillion...daily!![:0]
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    JamesRKJamesRK Member Posts: 25,670 ✭✭✭
    edited November -1
    Oops, I screwed that up. A TRILLION isn't $1,000,000,000.00, it's $1,000,000,000,000.00.
    The road to hell is paved with COMPROMISE.
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    HighballHighball Member Posts: 15,755
    edited November -1
    Do you suppose that all the cheerleaders for the rotten corrupt sleazebags running this country and big business are feeling just a hint of panic and queasiness today ?

    At least one has checked in and is still an az..but some folks never learn.
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    reloader44magreloader44mag Member Posts: 18,783 ✭✭✭
    edited November -1
    Just the tip of the iceberg[V]
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    kristovkristov Member Posts: 6,633
    edited November -1
    Better to lose $1 trillion up front than to buy up $700 billion worth of crap, which will probably amount to a $2 trillion loss within five years. One of the talking heads was saying that when the economy gets rosey again the $700 billion in worthless paper will turn itself around and generate a nice profit.

    I've heard about this big bridge in New York City that is for sale. Anyone want to buy it?
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    RockatanskyRockatansky Member Posts: 11,175
    edited November -1
    quote:Originally posted by JamesRK
    I heard on the news a little while ago that the stock market took a one trillion dollar ($1,000,000,000,000.00) hit today.


    And what exactly does that mean? "The market" lost a trillion dollars in actual cash?
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    JamesRKJamesRK Member Posts: 25,670 ✭✭✭
    edited November -1
    quote:Originally posted by Rockatansky
    And what exactly does that mean? "The market" lost a trillion dollars in actual cash?

    Hell, I don't know. I doubt there is $1,000,000,000,000 in actual cash. It's a trillion dollars that people had this morning that doesn't exist now.
    The road to hell is paved with COMPROMISE.
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    Allison9Allison9 Member Posts: 388 ✭✭✭
    edited November -1
    That's how much peoples 401k were devalued.
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    chappsynychappsyny Member Posts: 3,381 ✭✭
    edited November -1
    The stock market goes up and it comes back down. It will have made the 700+ points back by the middle of next week. In the meantime enjoy the buying opportunity
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    arraflipperarraflipper Member Posts: 1,248 ✭✭✭
    edited November -1
    Me thinks the stock brokers are laughing all the way to their bank. They make it on the buy and sale side. Heck they kind of run the country!

    Jim
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    gearheaddadgearheaddad Member Posts: 15,096 ✭✭✭
    edited November -1
    They said on the news last night that the one trillion dollars was a 6% drop. The market will correct itself over time.
    I can't fathom how much a trillion dollars is, but I know how much a billion is!!
    IF you had one billion dollars in a cookie jar(a very large one!)in other words, no interest. You could take out $100,000.00 a day for over 26 years!! That's a lot of money!! I can't imagine how much a trillion would be..................Of course, if we could get it in singles and go to the tittie bar, we could have a ball!![:D][:D]
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    Colonel PlinkColonel Plink Member Posts: 16,460
    edited November -1
    quote:Originally posted by gearheaddad
    They said on the news last night that the one trillion dollars was a 6% drop. The market will correct itself over time.
    I can't fathom how much a trillion dollars is, but I know how much a billion is!!
    IF you had one billion dollars in a cookie jar(a very large one!)in other words, no interest. You could take out $100,000.00 a day for over 26 years!! That's a lot of money!! I can't imagine how much a trillion would be..................Of course, if we could get it in singles and go to the tittie bar, we could have a ball!![:D][:D]


    SUPPORT WORKING MOTHERS!
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    OdawgpOdawgp Member Posts: 5,380 ✭✭
    edited November -1
    quote:Originally posted by dennisnielsen
    At this rate the rich won't be able to afford a mistress and housing for them.


    Watch out for skydivers while strolling.



    good thing there aren't any skyscrapers around I would be a bit nervous walking down wall street this morning [:D]
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