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Lauren

What will happen if the New York stock market fails?

MaggieD:

If the stock market were to "crash," everyone in this country would be effected in a VERY negative way. Insurance companies would fail; banks would fail; people would lose pension benefits they are already receiving; home values would fall (if you think they have nowwww, wait for a stock market crash!) People's 401K's would be decimated...the price of gold, silver, platinum and other precious metals would soar right through the roof and might be "the common person's" only hedge. Our national debt -- well, if you think it's bad nowwww, wait 'til a crash! You ain't seen nothin' yet. Cash and precious metals would be king. If you had it in your mattress, you'd be sittin' pretty. There would be vast unemployment. The cascading effect that a true stock market crash would cause repercussions around the world. (Remember, when the United States sneezes, the world catches a cold? -- Well, think pneumonia.) There are all kinds of safeguards in place so that this would be unlikely to happen, but it's not impossible. It's something one reallly doesn't want to even think about.

MaggieD:

When the government intervened in Bear Stearns' debacle, their actions prevented a run on the banks . . . we came close. We may come close yet again. We are a financial house of cards.

Heather:

it would be 1929 all over again

Lauren:

what happened in 1929?

HANKSTER:

Wall street crashed, investors threw themselves out of windows to their death, the great depression commenced.

Lauren:

wudnt it also cause a financial crisis worldwide?

HANKSTER:

Probably. The United States controls 25% of the world's wealth.

Lauren:

and dont they owe Canada 8 billion dollars?

Mac....Of Moot and Mac:

It'l be blamed on Bush

?mom?:

I thought I read somewhere or heard it somewhere that there were safe guards now so that it wont happen.... remember what the market did on 9 11?

Jakey-001:

If Bush=Cheney or Mc Cain is in power...Most likely they will BAIL OUT the stock market..just like they have done to BIG business several times...by printing more money...BUT you will NEVER see them bailing out a small business...

Russ:

First of all, it won't "crash"...1929 was caused by a total lack of Corporate Governance and governmental oversight. The Securities and Exchange Act of 1933-34 and subsequent laws, such as Sarbanes-Oxley, have put in place safe guards against that.

Donorth:

And so the depression will continue, if those two idiots, Hussein Obama and Joe Bin-Laden actually get into office.
As the old saying goes: "You ain't seen nothin' yet".

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