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BREAKING: Trading Halted at NYSE! (cnbc.com)

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[–]TTT_33333[S] 17ポイント18ポイント  (76子コメント)

Obviously no one knows for sure yet. But Greece just defaulted on its debt, China's stock market crashed and halted and now the US stock market has been halted. IMO, the NYSE bosses probably anticipated a huge drop (it opened down -170 this morning) and they are taking precaution not to let it completely bomb. If it does, the ripples might turn into shockwaves and we'll be right back to 2008 times 1000.

[–]HornyBillyGoat 11ポイント12ポイント  (58子コメント)

If the stock market crashes and the economy goes to shit what does that mean for a 21 yr old regular dude that doesn't make very much a year?

[–]r3alc00l 29ポイント30ポイント  (4子コメント)

stock up on weed and ammo

[–]Billistixx 11ポイント12ポイント  (3子コメント)

Especially the weed.

[–]TwinSwords 3ポイント4ポイント  (1子コメント)

Jesus. Pants-shitting is all some people know how to do. I can't imagine living in a constant state of terror.

[–]TexasThrowDown [スコア非表示]  (0子コメント)

Is that what you think weed does to you, son? Or do you mean terror from the government kill bots that will be sent to maintain order, citizen.

[–]ASaDouche [スコア非表示]  (0子コメント)

Will trade weed for food PST! lol..

[–]necosino 9ポイント10ポイント  (28子コメント)

You'll see a lot of old people crying. Personally, I'm 27 and just emptied my retirement account of the few thousand I have in it, and will use that to buy silver bars from the mint. ... And probably a couple guns, actually.

[–]HornyBillyGoat 5ポイント6ポイント  (4子コメント)

I'm for real I don't know hardly anything about if an economy tanks what would happen. I've never been taught that stuff. I know about a lot of different things, but the economy isn't one of them.

[–]necosino 3ポイント4ポイント  (1子コメント)

Publicly held companies have investors. These investors hold shares. If their shares start losing value, they will sell them. The more shares sold, the lower the value gets, the more people sell, etc.

The owners of these companies get put into a place of fear as well. They are no longer able to easily and quickly raise capital by selling shares, and their lenders will be less likely to extend them credit due to their treasury stock (stock the company owns) being worth a lot less, making their balance sheets look really scary.

Companies stop expanding, begin laying people off anticipating future needs, etc.

People getting close to retirement will panic the most. Generally those people have most of their retirement tied up in the stock market, so when the value of their shares fall, so does the value of their retirement.

If it's a short-term crash, you might not be affected much, if at all, especially if you work for a privately held company. When the crash lasts into the years, the effects ripple down much further.

[–]HornyBillyGoat 1ポイント2ポイント  (0子コメント)

The privately owned company part is a little relieving. Unless this is actually a stock market crash and last for awhile.

[–]truthwilgetushiled 0ポイント1ポイント  (0子コメント)

go back and look at some charts and learn from history and understand what money is, I recommend watching the creature from jekyl island on youtube, its free

if you want a condensed kid version of events go watch the american dream cartoon on youtube

[–]redlawnmower 0ポイント1ポイント  (0子コメント)

Great, easy to understand video on the stock exchange

[–]Feverdog87 4ポイント5ポイント  (8子コメント)

Lol no you aren't. I respect the idea though.

[–]necosino 0ポイント1ポイント  (7子コメント)

I'll PM you in a couple weeks with the check stub, guns and silver in hand :P

[–]necosino 4ポイント5ポイント  (1子コメント)

RemindMe! 3 weeks "Send smug picture."

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CLICK THIS LINK to send a PM to also be reminded and to reduce spam.

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[–]Feverdog87 0ポイント1ポイント  (0子コメント)

Gosh darn it ill eat my hat.

Actually seriously I'd be very impressed.

[–]redlawnmower 0ポイント1ポイント  (3子コメント)

If you're really that sure the market is going to crash, why not at least short some of your stocks and make some money?

[–]necosino [スコア非表示]  (2子コメント)

I can always turn around and re-buy by the end of the year without paying any penalties, so IMO there's no reason not to pull out while the shares still have some value. Either I'm wrong, or I'm right. Either way I can just rebuy the shares and be no worse for wear, unless the stocks surge which I don't see happening.

[–]redlawnmower [スコア非表示]  (1子コメント)

I'm saying that if you're willing to empty your retirement account because you think that the stock market will fall, you can actually make money when prices fall by short selling a stock, or buying what's called put options.

[–]necosino [スコア非表示]  (0子コメント)

That also requires a belief that the market will recover in a timely fashion, sooooo.. I'll stick to guns, ammo and trade-able commodities, lol.

[–]RosewaterConstant 0ポイント1ポイント  (12子コメント)

So, you took the 10% penalty on your retirement account money that's been accumulating and compounding for the last few years, just because you think now might be the time when the market crashes and burns? Don't get me wrong, the market is overvalued right now, but that's mostly due to the Fed keeping the interest rate so low. When adjusted for that, we'd see about a 20% correction, leaving us with around 13000-14000 points on the DJIA, right in line with pre-recession levels. Meaning that the market has basically been stagnant since 2007. With that said, the amount of genetic science, its implications on human longevity and its impact on the economy is going to be the next boom, just as computers were the last boom. This cycle will continue and I'd sure as fuck like to have money in the market so I could ride that Gattaca wave to a secure retirement.

[–]hack_jealousy 4ポイント5ポイント  (1子コメント)

Go ahead and keep ignoring real inflation. That should work out well for you.

[–]Odbdb 0ポイント1ポイント  (0子コメント)

This exactly. A flat market since 2007 actually means a shrinking market. That means that the discrepancy has only gotten bigger between the real economy and the stock market. That means it has to correct at some point and at this point its going to be a pop. The trillion dollar question is will the pop cause a cascade effect that causes the world economy to implode under its debt burden.

[–]fryether 3ポイント4ポイント  (1子コメント)

You are very delusional if you think the future is nothing but sweet smelling roses. No, top scientists are saying at the rate we are going with our carbon output earth will only be able to support life for a few thousand people with 99% of the other species on this planet dying. Nothing about that says market growth. Don't believe me? Just watch. https://www.youtube.com/watch?v=ATIm8Ov1Fks

[–]Free__Will [スコア非表示]  (0子コメント)

Thank you for sharing that video... the speakers are about as dry as they come, but the content was the single most shocking thing I've seen in as long as I can remember. I had no idea that top climate scientists say that we will likely to see total collapse of society due to global warning within my lifetime. For much of the video, I could feel the cognitive dissonance inside myself, not wanting to believe what they were saying, and I'm still unable to really consider what that means about how I should live my life.

[–]necosino 1ポイント2ポイント  (5子コメント)

It's a calculated risk, as is anything involving the market. Fortunately I'm only 27 so I have many years of fruitful labor ahead of me. Plus I think that precious metals and guns / ammo will hold more value in the coming years than stocks/monies that I might not be able to get access to or whose value could drop quickly.

[–]oldguynewname 0ポイント1ポイント  (4子コメント)

Ok so you think someone will trade you a shiney piece of metal they can't use for food or water? Gonna tell you I wouldn't.

Food, water, fuel, cigs, and items that provide basic comfort will be what is valuable. As well as guns and ammo for some. Its why I like a 12 gauge its very widely available ammo and easy to maintain weapon. Extremely lethal in most circumstances too.

Clean water will be hard to come by in social collapse cause it will be overrun and polluted very fast by hordes of stupid people. We have a well that's 864 feet. So we have a bit of time. Also have a small Honda generator that runs for 8 hrs on a gallon of gas. Its super quiet too.

You can only live for 3 days without water too. More a week without suffering for food. So you can keep the shiney rocks man.

[–]necosino [スコア非表示]  (3子コメント)

Don't make the mistake of assuming that that's the only place my money has gone. I have a couple cases of personal water filtration devices and extra filters. Plus medical supplies, canned foods, MREs, etc. If I had to I could survive with my family for about 2 months without going more than a few feet away from my house in order to collect rainwater from a barrel.

[–]oldguynewname [スコア非表示]  (2子コメント)

Sweet. I just don't see how getting something that got us into the mess (gold and precious metal valuation) will help the future.

To the layman in shitty circumstance its useless.

[–]necosino [スコア非表示]  (0子コメント)

No, but to the greedy businessman that still has supplies that I want, it can still be used to barter. Same goes with everything we've both said. It's just a matter of finding something the other person wants and values.

[–]necosino [スコア非表示]  (0子コメント)

Oh, and also if we still were under the gold standard, we wouldn't be in this mess at all, lol...

[–]redlawnmower [スコア非表示]  (0子コメント)

that's mostly due to the Fed keeping the interest rate so low. When adjusted for that, we'd see about a 20% correction, leaving us with around 13000-14000 points on the DJIA

ELI5 how you would adjust for that?

[–]Joelsfallon 0ポイント1ポイント  (0子コメント)

That oughta prevent you from being put on a list

[–]gnovos 1ポイント2ポイント  (0子コメント)

Worst case, you'll lose your job due to the economy shrinking and won't be able to find another very easily until things improve.

[–]dozendeadroses [スコア非表示]  (2子コメント)

Hopefully it pops the housing bubble so you can afford a house in your lifetime.

[–]HornyBillyGoat [スコア非表示]  (1子コメント)

I'm currently in the process of buying a house. Pretty cheap also I might add.

[–]dozendeadroses [スコア非表示]  (0子コメント)

Time to google "under water mortgage"

Just kidding. For your sake I hope the bubble keeps on bubbling up! YYEAHHH

[–]ilchymis [スコア非表示]  (0子コメント)

As a dude that was in the same position in 2008, just find a good job and ride it out. Work on doing things that you enjoy. Do you have a passion or future career? Work towards that, and don't let the doom and gloom affect you to the point that you aren't able to get your shit together.

Hold onto your stocks and money, it'll bounce back. If it doesn't, well, so it goes.

[–]DRUMBSHIT 6ポイント7ポイント  (12子コメント)

Stop investing in 401k's

We are told from a young age to prepare for retirement through 401K's and IRA's, but in reality, those are all tied to the stock market. So every 5-10 years, all the money you've been saving up gets wiped away.

It's been this way for as long as I've followed it.

Invest your money in CD's. They are safe bets. CDs are federally insured time deposits with specific maturity dates that can range from several weeks to several years. Because these are "time deposits," you cannot withdraw the money for a specified period of time without penalty. The financial institution pays you interest at regular intervals.

Once the CD matures, you get your original principal back plus any accrued interest. There are several different types, including jumbo, callable and flexible CDs.

CDs are considered safe bets. Consider laddering CDs investing money in CDs of varying terms -- so that all your money isn't tied up in one instrument for a long time.

[–]HornyBillyGoat 4ポイント5ポイント  (2子コメント)

How would I go about investing into CDs? I currently have retirement going to a 401k. It's not very much so far probably a few thousand dollars because I've only been at my job for about 3 or 4 years. Should I pull the money from my retirement every few months and invest in the CDs? Or is there a type of retirement plan where you can choose to put retirement into CDs instead of a 401k?

[–]DRUMBSHIT 0ポイント1ポイント  (1子コメント)

It may be possible. Call your company and see if they can assist you in rolling over 401k. Most banks offer CD's, but remember, the returns on CD's are not as high as gambling with a 401k.

Safe bets will keep you from stressing out everytime the market falls, but keep in mind, when the market begins to rally, your money will still be in the safe bet so your returns wont be as high.

risk/reward kinda thing, ya know?

[–]HornyBillyGoat 1ポイント2ポイント  (0子コメント)

Yea I know. I've always thought that stocks and things like that were just sophisticated forms of gambling. I mean if I had extra money that wouldn't hurt to lose I'd invest in stocks, but I have no clue how stocks work. All I know is you're supposed to buy low and sell high haha b

[–]_Dale_Gribble 5ポイント6ポイント  (5子コメント)

That's absolute bullshit, just like almost everything on this sub. Take a look at this chart of the S&P 500 since 1950 and tell me how it gets wiped out every 5-10 years.

https://upload.wikimedia.org/wikipedia/en/a/a3/Daily_Linear_Chart_of_S%26P_500_from_1950_to_2013.png

You can see the effect of two bubbles bursting, dot-com and housing, but other than that it's stable.

If you are going to be skeptical of the stock market, you should be talking about the student loan bubble that some speculate will burst, not spouting lies about how it actually works.

edit: not to mention that CD rates are 2% at best, which might not even keep up with inflation.

[–]DRUMBSHIT -1ポイント0ポイント  (4子コメント)

Did you read what I wrote? I said "It's been this way for as long as I've followed it." Since i've started watching it, the drops have been blamed on the housing and dot com bubbles. But these drops are real and shows that since I've followed it, it has been unstable.

Alot of policy and changes have been done since the late 90's. If you review that chart you posted, the volatility has been growing at an exponential rate.

The dips have gotten worse and in my opinion, it's going to get worse.

[–]_Dale_Gribble [スコア非表示]  (3子コメント)

in my opinion

In my opinion it will go up 500000% in the next 6 days.

It's been this way for as long as I've followed it

If you started watching it after the rebound of the housing crash, you would think the market is growing exponentially and perfect. You can't just look at one little segment and think you have it all figured out.

[–]DRUMBSHIT [スコア非表示]  (2子コメント)

that's cool.

The roller coaster ride keeps getting bumpier and bumpier. Maybe my thoughts are myopic since im not taking into account how they performed from the 60's-90's.

show me its stability trend and I'll buy it.

[–]_Dale_Gribble [スコア非表示]  (1子コメント)

I'm only here because someone in /r/personalfinance linked to your ridiculous comment. Have fun with 1% growth.

[–]redlawnmower [スコア非表示]  (2子コメント)

You're right that CD's are safer, but investing in the stock market will get you way a way higher return. Average annual stock market ROI, I'm just gonna say is around 8%, where as if you invest in CD's you'd be extremely lucky to get anything higher than a 2.5% APY. Not to mention that a lot of the time CD rates will be lower than inflation rates, so by investing in those CD's, your money will actually lose value over time.

[–]DRUMBSHIT [スコア非表示]  (1子コメント)

risk/reward my friend

greed makes people take greater risks.

[–]redlawnmower [スコア非表示]  (0子コメント)

greed makes people take greater risks.

You make it sound so cynical though. If i had the option to either make very little, or possibly lose money, or to make a much greater amount of money with a little more risk, of course I'm going to choose the second option. Not because I'm a greedy person, but because it just makes more sense to me to take the second option.

[–]truthwilgetushiled 0ポイント1ポイント  (4子コメント)

it means some corporations will shut their doors, but only the ones who are not fiscally responsible and conservative. Some of these dumbasses literallly will run of their stock price. Companies have to make profits to stay in business. As a 21 year old if you are not afraid of work(getting sweaty and dirty) you are not going to starve.

[–]HornyBillyGoat 0ポイント1ポイント  (3子コメント)

Yea I currently don't have a desk job or anything like that. I love manual labor and being outside and stuff. It's not physically easy job doing stuff like that, but I enjoy it. I know I'll never make as much as someone who went to college and stuff, but I enjoy what I do. I've never been bent on trying to be rich. It would be awesome and fun and it would be life changing, but I'm doing fine right now. Even if I were rich I wouldn't change much. Probably give more to charities that's about it.

[–]truthwilgetushiled 1ポイント2ポイント  (2子コメント)

just live cheap young man, I started off like you busted my ass and now I am debt free with money in the bank. I never stopped wanting to learn and challenged myself with everything I could learn. Early on I was a paramedic , when I was young I did hard work , my family owned a trash business. Today I drive a firetruck and got it easy at the firehouse. I went to school to do HVAC and have a damn good understanding of the refrigeration cycle. I can do just about anything short of surgery :). But anything mechanical , I got it. Rich is overrated, being debt free and at peace with life is not. Understand the value of a dollar and where the idea of that dollar originated and you will have a good grasp on how to function in life. Owning things that are crashing in value(new cars) are the surest way to the poor house. He who has the smallest house is happiest. I didn't dig that when I was younger and I thought a big house was pie in the sky cause I worried about what others thought. I don't , literally fuck what others think. People spend money they don't have on something they don't need and paying interest on it. Nothing worth having is free in life so reach for those things that will bring you peace and happiness, that is the secret to it all.

[–]HornyBillyGoat 1ポイント2ポイント  (1子コメント)

Yea I use to care what people thought of me when I was in high school and stuff. Then one day I just stopped caring what people thought. I literally haven't been stressed in I don't know how long. I have bills just like everyone else, but I make sure I pay them. I love having the things I have because I worked hard for them. I'm in the process of buying a house. It's not a huge house, but I can afford it and it's nice to me and in a decent neighborhood. It's a townhouse built in 2005 for around $76,000. That's cheaper than any apartment for rent and most houses around here. I'm proud to be making this step and that I'm able to do it kind of young. It's going to be scary for me kind of, but I'm ready and know I can make it.

[–]UncriticalEye [スコア非表示]  (0子コメント)

You're a smart kid. Don't listen to the fear mongers. You're going to be fine. There are a lot of people hooked on fear because they are bored. It makes their lives interesting. And it's a way to make themselves feel smarter than everyone else. A lot of others push fear for ideological reasons. Like, if you hate Obama it's so much more satisfying if you say he's planning to enslave us all and destroy America.

[–]ruffyamaharyder [スコア非表示]  (0子コメント)

Get ready to purchase a ton of stocks when everything drops to extremely low prices. Wait a few years and sell everything when things look pretty good.

[–]Circumstantial_Law 5ポイント6ポイント  (0子コメント)

My God...that's 2,008,000

[–]JesuisRandyQuaid 2ポイント3ポイント  (0子コメント)

It's a technical bank holiday! Time to hit the pool, but all I have to swim in is... derivatives.

[–]Arnox [スコア非表示]  (0子コメント)

US stock market has been halted

This is why it's so important for people to read the links that they actually post.

Trading has not been halted on the 'US Stock Market'. Firstly, there are over a dozen stock markets in the United States. This is limited to the NYSE, and not only to the NYSE, but the NYSE trading floor.

From the article you linked:

The issues seemed to be limited to the NYSE floor, and the exchange noted they did not affect the NYSE Arca and NYSE Amex/Arca Options.

You can still buy/sell securities from companies on the NYSE, it just goes through Arca or on the other exchanges. The market is still up and running: it just isn't being routed through Manhattan.

they are taking precaution not to let it completely bomb

Strange, because you can actually see the NYSE composite right now (after all, the securities are still trading) and it's not diving down at all. Pretty much in line with what you'd expect given the situation in Greece and China.

https://www.google.com/finance?cid=2230927

So, yeah. You're completely wrong about this entire situation, didn't read the article you linked and basically showed why no one takes /r/conspiracy seriously. You have no idea what you're talking about.

[–]XMARTIALmanx 0ポイント1ポイント  (0子コメント)

I mean, ever since oil lowering its price, the economy was going down with all this this just makes it worse. Before the worst of the low wouldve been December ish after oil companies start operations in September when school starts (and yes school structure has that much of a mental influence on people). Now it may hit earlier breaking that. That would mean reinvesting might come in later which is pretty terrible.

[–]godiebiel [スコア非表示]  (1子コメント)

UA also grounded all flights because of "software failure"

[–]AllenIll [スコア非表示]  (0子コメント)

It's going to be awesome when we have the Internet of Things and Self Driving Cars all connected together. Right?

[–][削除されました]  (8子コメント)

[deleted]

    [–]TTT_33333[S] 0ポイント1ポイント  (7子コメント)

    What would this mean if true?

    WTF! Where did you hear this?... If that is true, it means they're in full panic mode. No one can really say what's happening or what's going to happen. A developed country like Greece defaulting on its debt is completely unprecedented. Even the bankers running the EU don't know what will happen.... we're in uncharted waters now.

    [–]3rdEyeBall 0ポイント1ポイント  (2子コメント)

    What do you make of this?

    China's Stock Crash: $3.5 Trillion Wiped Out, $2.6 Trillion Frozen

    [–]TTT_33333[S] 0ポイント1ポイント  (1子コメント)

    What do you make of this?[1]

    I think it's part of the reason the NYSE closed today. If the Chinese ever stopped lending us money (ie buying our T-Bills), the Fed would have to go into overdrive printing money to keep paying interest on our debts. I think the problems in China and Greece are making people panic over here.

    [–]3rdEyeBall 0ポイント1ポイント  (0子コメント)

    Indeed. I guess I didn't expect it to happen so soon, but what's the point in waiting, when they must know όχι means no.

    [–]jaimelin 1ポイント2ポイント  (1子コメント)

    I guess they already shut down silver sales (if this source is accurate). http://www.zerohedge.com/news/2015-07-07/us-mint-runs-out-silver-same-day-price-silver-plunges-2015-lows

    [–]TTT_33333[S] 1ポイント2ポイント  (0子コメント)

    Shutting down sales is different than the mint running out of silver but they indicate the same thing.... there's a storm coming.

    [–]jaimelin 0ポイント1ポイント  (0子コメント)

    I read it under a news article about the stock exchange halting off Action News 5 in Memphis. A man said he wasn't a conspiracy theorists anymore, then said the U.S. Mint also halted the sale of gold. (sorry, I deleted my original comment, trying to repost with screen shot, but I can't get a picture to upload - was not the work of any reddit mod, just my own error).

    [–]one23four5six78nine [スコア非表示]  (0子コメント)

    What was the post? it is deleted now.