Look like Wall Street going to have to ask for another

[Islandman]

trillion soon, give or take a few hundred billion.Stock market falling like a rock this morning.

[Willi]

trillion soon, give or take a few hundred billion.Stock market falling like a rock this morning.

Record job loss is why!

[Islandman]

I think is more than that Willi. I think they may be coming to the conclusion that 700 billion may not be enough to patch this thing up short term.

If that proves to be true, then what next?

[Willi]

Well we did done know that from long time...3 trillion is the minimum.

In any case, the $700b was wasted. It should have been an equity injection.

The Bailout as construction will lead to Weimar style hyperinflation. Buy, gold, buy silver, buy now!!! The prices are bvery attractive at this juncture.

A word to the wise is sufficient.

[Islandman]

Maybe you right about gold still being attractive at $850 but to be honest i can't see myself buying here. I guess its because i bought in at less than $400.

As a matter of fact I would sell mine at $1300 or thereabouts because I feel if gold goes much higher than that then things will be so bad that it really won't matter anyway and I will need to be looking at hoarding food supplies instead of gold.

[Islandman]

By the way forumites to give you an idea of what is going on , I have had a Home Equity line of credit setup for years , just in case of an emergency that I can't cover with cash savings.

Well this weekend i got a letter from the bank saying that they have to freeze the line of credit because of thier exposure to the drop in housing prices. This is even though their most recent appraisal indicates that I still have more than 50% equity in the house!

So again, DO NOT DEPEND ON ANY KIND OF CREDIT BEING AVAILABLE if this thing continues to deteriorate.

[Willi]

LoL

You could be right.

Gold will buy you food though. Better value preservation than cash, even at $4000 an ounce.

Dont sell yuhself short!

[Willi]

Amen bredda!

On a serious note, this site gives better financial insight than the mainstream ones when you see the diversity of input here.

Thank you RBSC!