[Newsbot]

Title: TSX, Dow plunge 700 points after Chinese market panic spreads
Category: Business
Posted By: martin14
Date: 2015-08-24 07:06:23
Canadian

[martin14]

Shit is hitting the fan today...

[DrCaleb]

It's going to be a bumpy ride!

[BartSimpson]

It's a long overdue market correction as both China and the US are overvalued and they need to come down to reality.

Hopefully the US government won't borrow trillions of dollars to bail out the fucking banks again. IMHO any bank needing a bail out needs to be nationalized and their executives fired.

[andyt]

They've been warning about his at least since the 2008 crash. Just took a while to get here. And of course most people weren't paying attention.

[karra]

With precious metals reduced to '08 levels there's no point counting on what Fort Knox may or may not contain.

[BartSimpson]

karra karra:

With precious metals reduced to '08 levels there's no point counting on what Fort Knox may or may not contain.

My advice is to invest your beer money in silver. I'm not saying to invest everything in metals, but at least have some silver coins on hand just in case the major currencies go to shit - which is possible.

[Vamp018]

Is it still good to invest in Canadian Gold/Silver/Diamonds?? I wanted to ask as I do have some assets and stocks in various companies. Sorry but I find investing in Canada much better then the US.

[karra]

One of the downsides re precious metal purchasing is they are always sold in U.S. dollars - the current exchange is 1.3279 - most of my purchases were in '08 - don't recall the exchange but it wasn't as bad as that - following '08 gold went to nearly 2k/oz and silver to nearly 50/oz - keep in mind these are troy ounces.

If you're a U.S. citizen it might be prudent to carefully examine what is in your 401k as it doesn't look as if it's going to get any better any time soon. The markets will likely have a small recovery followed by another loss lower than the last one - and so on.

If you haven't accumulated a few basics by now - probably a good time to start.

It's going to get a lot worse before it gets even a little better.

https://gold-forum.kitco.com/ <-- Forum - click on 'All Metal Quotes' for cost per ounce.

Kitco is your friend...

[BRAH]

The experts advise the average investor to sit back letting this play out, what's shocking is the beating Apple's been taking.

[BartSimpson]

BRAH BRAH:

The experts advise the average investor to sit back letting this play out, what's shocking is the beating Apple's been taking.

Apple needs to diversify their workforce if they want to stoke investor confidence and that means hiring more Chinese, Indian, Mexican, and Eastern European children.

[xerxes]

Here's today's plunge in perspective over a 10-year period

[martin14]

xerxes xerxes:

Here's today's plunge in perspective over a 10-year period

No question, a screwy day, we'll see if it changes tomorrow, or if it keeps going.

At the same time, absolutely nothing positive for Canada.

Oil to $38, and it will keep going down. China slowdown means bad news for Canada.

Dollar to $.75, and it will keep going down.

Interest rates have nowhere to go but up.

And all those 'manufacturing' jobs that were supposed to come back to Ontario ?

Hasn't happened, won't happen until the dollar drops to $.40, and Canada starts to look like Mexico.

[Thanos]

As seen on Twitter today:

1) if those stocks had been armed none of this would have happened!

2) yo, represent for the stock market, a fake and rigged thing that periodically likes to destroy everyone's lives