Economy

[Maverick]

Different subject:
When do folks make a run on their bank $?
If the Dow Jones goes to 14-15k...which would be
a drop of 50+%....would that trigger it?

I?m thinking about pulling $15k out Monday to
have some on hand just in case.

I'm just curious but what good do you think cash money would be if things just completely blow up? I've always thought you better have something worth bargaining with and paper isn't it haha.

[RocketDawg]

That new panic center off HCPW in Ridgeland couldn't have opened in a better, or worse time.

Did the Costco finally get built and open?

[Political Hack]

[QUOTE=MrKotter;1237526]Oh good, another panic thread[/QUOTE

In some cultures they're forbidden to talk about bad things out of fear that it will bring them. Therefore they don't plan for bad things and are unprepared when it happens. Maybe we should all take that approach. Seems to be working out well.

[Political Hack]

I'm just curious but what good do you think cash money would be if things just completely blow up? I've always thought you better have something worth bargaining with and paper isn't it haha.

Money should be spent for things that you can buy and keep for value when the economy returns. Commodities would be trade/barter most likely. I'd love to see how markets are restablished once things settle down. Hopefully we won't get to witness the desecration of a complete economy and get to watch it be reborn, but if we do it's going to be one hell of a ride.

[Bothrops]

Did the Costco finally get built and open?

Yeah, the day it opened was the very first day everyone went apeshit to get out and buy toiletries.

[Joebob]

Different subject:
When do folks make a run on their bank $?
If the Dow Jones goes to 14-15k...which would be
a drop of 50+%....would that trigger it?

I?m thinking about pulling $15k out Monday to
have some on hand just in case.

There?s absolutely no reason to worry about your money unless you have more than $250K in the bank. The government will protect that money before they protect anything. I?ve lived through panics before and know full well how they can spread, but I?m not worried about this. I just shake my head every time I see a line at a bank.

Having said that, if you thought your bank could go under, it probably wouldn?t hurt to have some cash on hand to make it through the weekend while the bank is closed for reorganization. But hell, a thunderstorm could knock out power for days to your town, so it?s still a good idea to have a little cash on hand.