What the hell just happened to the Stock Market? - General

[QUOTE=Tha Baroni;21777664]i blame Obama[/QUOTE] Did you read the thread at all? The U.S. did not cause this.

[QUOTE=Borg184;21777665]I have no idea what just happened, but this exactly how the Great depression happened.[/QUOTE] Not quite. This is how ALL recessions start, more or less, except GD was fueled by war spending, and we're fueled by Greece and a general lack of a solidified world economy.

[QUOTE=Borg184;21777665]I have no idea what just happened, but this exactly how the Great depression happened.[/QUOTE] Except Greece did not cause it. Such a random country to cause such a crash.

Stocks confuse the fuck out of me. But even i can tell this is bad, like really bad.

Ahh crap. My stocks have been steadily declining for days. Guess it'll drop again today. *sigh* I really want out of the stock market, but I'm waiting for it to fully recover first, so I don't lose money I invested...I'm hoping to pull out in a year.

Throw Greece out of the EMU, only solution.

[QUOTE=Borg184;21777665]I have no idea what just happened, but this exactly how the Great depression happened.[/QUOTE] Er, no. The stock market is crashing due to the euro crashing from greece, so anyone who invested anything involving the euro just sold everything out because of how shit has hit the fan. This proves how horrible a multi-national currency is, if one nation goes down it just drags the whole currency with it.

[QUOTE=Tarana;21777767]Ahh crap. My stocks have been steadily declining for days. Guess it'll drop again today. *sigh* I really want out of the stock market, but I'm waiting for it to fully recover first, so I don't lose money I invested...I'm hoping to pull out in a year.[/QUOTE] ähhahahahah good luck I've been trying to do that for 5 years. [editline]07:51PM[/editline] brohint : buy low sell high

[QUOTE=lulzbocks;21777691]Except Greece did not cause it. Such a random country to cause such a crash.[/QUOTE] Not really. The [del]Grecians[/del] [del]Greekians[/del] CITIZENS OF GREECE are pissed because Greece is severely in debt. So much so that they considered selling off their islands. So they're basically rioting right now. (Footage [url=http://www.facepunch.com/showthread.php?t=934565]here[/url].) So Greece is filled with tension (as are most countries when there's a fucking [b]revolt[/b] (not quite there yet, but it's damn close). So everyone else is panicking and pulling out of Greece related businesses, which makes Greece fail more. Repeat. Meanwhile, the EU's there like oh shit greece what you doin bro and so then the Euro's failing (Greece asked the EU for 150bil Euros to help out and as you can imagine they were like lolno) so that's making Europe go down. We, of course, are just like OH FUCK MAYDAY MAYDAY so we're taking all our money out of stocks and banks, which is (say it with me), hurting our economy.

[QUOTE=Bepo5;21777782]Er, no. The stock market is crashing due to the euro crashing from greece, so anyone who invested anything involving the euro just sold everything out because of how shit has hit the fan. This proves how horrible a multi-national currency is, if one nation goes down it just drags the whole currency with it.[/QUOTE] Would still affect the other countries, as they wouldn't be able to pay the loans back then.

The European Union is completely stupid then. What's the point if this can happen at any moment? Seriously, if you're going to make a common currency, then go all out and combine your nations into a single European entity, so this can't happen so easily.

Well, I'll be sure to let everyone know how much money I lose by the end of today. >_<

[QUOTE=evilking1;21777820]Would still affect the other countries, as they wouldn't be able to pay the loans back then.[/QUOTE] Yup unfortunately. Though this way even if they didn't have any loans (Not very likely) they get screwed either way.

[QUOTE=Zinayzen;21777796] Meanwhile, the EU's there like oh shit greece what you doin bro and so then the Euro's failing (Greece asked the EU for 1.5bil Euros to help out and as you can imagine they were like lolno) so that's making Europe go down. [/QUOTE] actually we [B]are[/B] loaning 80 billion

[QUOTE=lulzbocks;21777844]The European Union is completely stupid then. What's the point if this can happen at any moment? Seriously, if you're going to make a common currency, then go all out and combine your nations into a single European entity, so this can't happen so easily.[/QUOTE] A single European simply wouldn't work. Europe is far too diverse to combine into one nation.

Now everyone are economy specialists!

[QUOTE=lulzbocks;21777844]The European Union is completely stupid then. What's the point if this can happen at any moment? Seriously, if you're going to make a common currency, then go all out and combine your nations into a single European entity, so this can't happen so easily.[/QUOTE] They did it for a couple reasons, actually. 1) It's cheaper and easier. (Seems like a stupid reason, but trillions of US equivalent dollars are spent printing money for various nations, and if you all use different currencies, you ultimately have to have MORE of them printed.) 2) It was actually done to prevent things like this from happening, more or less. (Actually, one of the primary reasons was to prevent anything from hyperinflation like what happened to the Marc in Germany in the 40's.) There are more, but those two relate the easiest to what you're saying. And it doesn't happen easily, this was unpredictable. But it's actually better for the EU that it happened this way anyway. If it didn't, each individual country would be failing which puts far more pressure on the big Markets (ours, Canada's, China's, etc.) and slightly less pressure on the smaller ones. (Although for said countries it's still really bad). I'm not particularly versed in the Euro. [quote]actually we are loaning 80 billion[/quote] Still won't be enough. It's the best option, though.

[QUOTE=toxicpiano;21777881]A single European simply wouldn't work. Europe is far too diverse to combine into one nation.[/QUOTE] Exactly, which is why I think the European Union is a waste of time. Or at least the Euro is.

[QUOTE=Swebonny;21777899]Now everyone are economy specialists![/QUOTE] lol

The window! The window!

[QUOTE=Zinayzen;21777917]They did it for a couple reasons, actually. 1) It's cheaper and easier. (Seems like a stupid reason, but trillions of US equivalent dollars are spent printing money for various nations, and if you all use different currencies, you ultimately have to have MORE of them printed.) 2) It was actually done to prevent things like this from happening, more or less. (Actually, one of the primary reasons was to prevent anything from hyperinflation like what happened to the Marc in Germany in the 40's.) There are more, but those two relate the easiest to what you're saying. And it doesn't happen easily, this was unpredictable. But it's actually better for the EU that it happened this way anyway. If it didn't, each individual country would be failing which puts far more pressure on the big Markets (ours, Canada's, China's, etc.) and slightly less pressure on the smaller ones. (Although for said countries it's still really bad). I'm not particularly versed in the Euro. Still won't be enough. It's the best option, though.[/QUOTE] You are very knowledgeable on this topic. Thank you for your insight.

Send a Hero

[QUOTE=lulzbocks;21777934]Exactly, which is why I think the European Union is a waste of time. Or at least the Euro is.[/QUOTE] The EU isn't a waste of time. It's about standardisation, trade and better rights for consumers. Ultimately it benefits the people inside it (although it has funny ways of showing it sometimes. The Euro is part of that standardisation, but I don't live inside the eurozone so I'm not familiar with the effects of it first hand.

[QUOTE=toxicpiano;21777989]The EU isn't a waste of time. It's about standardisation, trade and better rights for consumers. Ultimately it benefits the people inside it (although it has funny ways of showing it sometimes. The Euro is part of that standardisation, but I don't live inside the eurozone so I'm not familiar with the effects of it first hand.[/QUOTE] The Euro is boring money.

[QUOTE=toxicpiano;21777989]The EU isn't a waste of time. It's about standardisation, trade and better rights for consumers. Ultimately it benefits the people inside it (although it has funny ways of showing it sometimes. The Euro is part of that standardisation, but I don't live inside the eurozone so I'm not familiar with the effects of it first hand.[/QUOTE] Exactly. The EU isn't just a economic or political thing, it's there for a lot more than that. It's a great idea, it just has its drawbacks. But it's nothing that wouldn't have happened anyway, and quite frankly, it's probably better for EVERYONE that the EU exists. Edit: [b]Also, most people don't know this, but the more countries you have to deal with, the lower your dollar becomes.[/b] When you've got 46 exchange rates to deal with instead of 1, your dollar becomes significantly less valuable because it basically has to average itself out between the countries (usually not significant, but if you have Greece's money going batshit insane, every country around it would also essentially collapse because Greece is actually a fairly important country in terms of European economics), which would push our dollar and everyone else's down more.

[QUOTE=radioactive;21778003]The Euro is boring money.[/QUOTE] cool

Why did it happen so suddenly?

[QUOTE=rathat48;21778054]Why did it happen so suddenly?[/QUOTE] It didn't, really. Three days ago we dropped 300 points because the Euro started to drop. The Stock Market's kind of weird because even if bad stuff is happening, we won't be affected until people start taking money out. It's like a bizarre chain reaction. Once enough people start taking money out, it exponentially spreads until this shit happens.

[QUOTE=adamater;21777167]It pretty much doesn't.I don't pay bills. Give me a way it affects me.[/QUOTE] :frog:Get out.

[QUOTE=toxicpiano;21777881]A single European simply wouldn't work. Europe is far too diverse to combine into one nation.[/QUOTE] America is a combination of European countries and we work just fine. oh wait.