stock market: impending doom?

[edapita]

Geez!!! The stock market is really scary now. I think we are now officially on the edge of the second "great depression." When people on the media start saying that it will happen, it means that we're already there. People that I've talked to are now selling their stocks and moving towards almost all gold/cash/T bills/oil and the like. Makes me scared. I've never seen this before, but then again I've only been actively trading on and off since '99. I remember that the gift trust I created when I was a preteen only faired as well as the market had, and was actually in the red at the time of the tech bust. Looking back at old charts from the 1920's to now, it took almost 20 years before people who lost their fortunes in the 1930's saw the return of their monies ( no interest of course) in the 1950's. That's 20 years!!! Totally sucks. Given these histories.... better to sell now, get cash, and buy during the crash.

When the large Indy Mac bank in cali failed how many weeks ago?? people were lining up for blocks in hopes of getting their money back. Does anyone find this familiar? Oh boy, we will see if the FDIC will upholds its promise and insure that money. Rumur has it that WaMu is going on sale next. Can you imagine the chaos that will erupt if the FDIC doesn't insure that money?? And of course the only way they can insure that money is either to go further into debt and print more money, thus weakening an already weak dollar. Hello euros, yen, francs!!!