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The market is set to experience what they call a LIMIT DOWN day. That is when trading is halted at various predetermined stages so that we can descend into chaos in an orderly fashion. It may not happen at all, but premarket trading has been halted.
The currency movements are absolutely brutal right now. The global slowdown is starting in full swing now. I guess we can begin the countdown to time when we experience the possible civil unrest and violence that Scott mentioned. I am hoping Costa Rica will escape that stuff.Once upon a time a man appeared in a small pueblo in Guanacaste and announced to the villagers that he would buy monkeys for $10 each.
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.
The man bought thousands at $10 and, as supply started to diminish, the villagers stopped their effort. He next announced that he would now buy monkeys at $20 each. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so scarce it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50 each! However, since he had to go to the city on some business, his assistant would buy on his behalf. In the absence of the man, the assistant told the villagers: ‘Look at all these monkeys in the big cage that the man has already collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each.’
The villagers rounded up all their savings and bought all the monkeys for 700 billion dollars.
They never saw the man or his assistant again, only lots and lots of monkeys!
Now you have a better understanding of how the WALL STREET BAILOUT PLAN WILL WORK !!!!
That was really funny, Sprite! Writing fables about the financial crisis could be your calling and next career!
Hi Sprite,
For those of us who are just about to move to Costa Rica, what do you think, if civil unrest broke out, would it be hard for us to leave the states?I’m running into some delays with documents and need to stay a little longer than expected… don’t want to get stuck here last minute…
I’m in the process of buying in Costa Rica, in U.S. funds and my Canadian dollar, for some reason, is in a tailspin downwards…Pretty scary.
The Canadian “Loonie” went from $1.10 to $.79 today … 1 year later. The strengthening dollar, a significant slowing in lumber exports, a declining ROI on the oil sands project, which is break even @ $60/barrel is not helping. Interesting to note that 80% of the Canadian population lives within 1 hour of the US border. I live 1 hour south of Vancouver and have numerous Canadian friends.
I have no clue about that. It would have to be a pretty dramatic descent into chaotic civil unrest for the government to close borders. I say that because there are whole bunch of fat cats who would lose fortunes if international commerce and travel were restricted and we all know that money rules here.
Also, it looks like we are about to finally get a liberal president so we might expect a turn around from the fascist heading we have been following for the last 8 years.Albeit a president with strong socialistic tendencies, which will likely put a serious damper on capital gains from trading stocks and in turn investment in general if he has his way.
Edited on Oct 25, 2008 17:38
grb, once again…a turn from fascism, or your capital gains protections. Just what is your lifestyle choice, amigo. You present yourself as intelligent, well-read and an informed family man. Yet you keep popping up with these gems. You’ve written off your children, your “beloved” status quo and declared yourself a prisoner in your own home. Now this response to a common sense statement concerning the fascist leanings/bent of YOUR president. Just where is the threat to what the US used to stand for? Its in our backyard and he’s digging up his lucre. He’s prepared for the inevitable.
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