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Offlineshellzenone
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Dow plummets 400+ points
    #22122679 - 08/21/15 02:06 PM (8 years, 5 months ago)

What does this mean for our economy? I dont realy know much about economics...


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OfflineDilsnique
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Re: Dow plummets 400+ points [Re: shellzenone]
    #22122692 - 08/21/15 02:10 PM (8 years, 5 months ago)

It means party down while you can....


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Invisiblevinsue
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Re: Dow plummets 400+ points [Re: shellzenone]
    #22122694 - 08/21/15 02:11 PM (8 years, 5 months ago)

:haha::monopoly: . . . :peace:


--------------------

"All mushrooms are edible; but some only once." Croatian proverb. BTW ...
  Have You Rated Ythans Mom Yet ?? ... :taser:  ... HERE'S HOW ... (be nice) .  :mod: ... :peace:


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Offlineshellzenone
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Re: Dow plummets 400+ points [Re: vinsue]
    #22122747 - 08/21/15 02:24 PM (8 years, 5 months ago)

must be the set up for the collapse I guess. I knew the four blood moons would bring a big change! :paranoid:


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OfflineKonyap

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Re: Dow plummets 400+ points [Re: shellzenone] * 1
    #22124336 - 08/21/15 08:23 PM (8 years, 5 months ago)

Effects of the TPP and people in their 30's not buying houses/tools.


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OfflineVsnares.Zappa
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Re: Dow plummets 400+ points [Re: Dilsnique]
    #22124340 - 08/21/15 08:23 PM (8 years, 5 months ago)

Quote:

Dilsnique said:
It means party down while you can....






fuuuuuuuuuuuuuuuuuccccccccckkkkkkkkkkk


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Offlinezappaisgod
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Re: Dow plummets 400+ points [Re: shellzenone] * 1
    #22124362 - 08/21/15 08:28 PM (8 years, 5 months ago)

Quote:

shellzenone said:
What does this mean for our economy? I dont realy know much about economics...



Very little.  The Dow goes up and the Dow goes down but it is not the economy.  Labor force participation, home sales, CPI, oil prices, GDP these are all much more important.


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InvisibleThe Doobie Dude


Registered: 04/28/13
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Re: Dow plummets 400+ points [Re: zappaisgod] * 3
    #22124378 - 08/21/15 08:30 PM (8 years, 5 months ago)

I means you either should vote Bernie Sanders or you will die.


--------------------

"There are a million reasons to drink and one just popped into my head.  If a man can't drink when he's living how the Hell can he drink when he's dead?" - Irish Limerick
I PLURed once because it was PLUR or die. - D.M.T.


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InvisiblePrisoner#1
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Re: Dow plummets 400+ points [Re: shellzenone] * 4
    #22124414 - 08/21/15 08:42 PM (8 years, 5 months ago)

Quote:

shellzenone said:
What does this mean for our economy? I dont realy know much about economics...







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Offlinemy3rdeye
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Re: Dow plummets 400+ points [Re: Prisoner#1] * 1
    #22124712 - 08/21/15 09:51 PM (8 years, 5 months ago)

It means not long until we are all fighting for food in the Thunderdome.


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Invisiblekoraks
Registered: 06/02/03
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Re: Dow plummets 400+ points [Re: Prisoner#1] * 1
    #22125503 - 08/22/15 03:42 AM (8 years, 5 months ago)

:lol:

Btw good point zappa. The problem with all these indicators is that they at the same time provide a little insight into the state of the economy, but they also influence the actions of economic agents and therefore the economy itself. The question "what does this mean" in relation to the DOW dropping therefore breaks down into 2 questions: what does this drop indicate, and what likely effects will the drop itself have on the actual economy. The former is mostly about the Asian economy stalling over the past few months, with particularly Chinese economic growth slowing down, which means that a large market for global producers is showing less potential than previously assumed. Hence stocks like Apple taking a big hit. The second question is difficult to answer without a crystal ball. Economic forces may show a self-correcting behavior, but they may also lead to a downward spiral.  You never really know what you'll get before it happens.


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OfflineSoulidarity
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Re: Dow plummets 400+ points [Re: shellzenone] * 1
    #22125513 - 08/22/15 03:50 AM (8 years, 5 months ago)

i'm actually hoping the american dollar depreciates a bit. majority of things are based off of the price of the USD, and so when the USD craps out, products become cheaper to purchase overseas and companies start lowering prices and stuff.

basically wait for the USD to crap out and then start buying up all kinds of electronics at cheap rates


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Invisiblekoraks
Registered: 06/02/03
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Re: Dow plummets 400+ points [Re: Soulidarity]
    #22125524 - 08/22/15 04:03 AM (8 years, 5 months ago)

Yeah, although shipping rates from the US to e.g. the EU are so insane that you'd almost think the Americans would rather hold on to their stuff and not sell overseas. They'd help themselves by instating policies such as the Chinese, that make intercontinental shipping a non-issue. Seriously, I'd be buying stuff from the US all the time if I didn't have to pay about $100 more (shipping, customs and import taxes, but mostly shipping) for a $60 item :facepalm:

To give an example: say I'd want to purchase an old, second-hand large format camera lens that is priced really low at $125 - depending on the lens, that's a steal and I'd buy it with little hesitation. But look at what I actually pay for this $125 item:
* Shipping: $65
* Customs charge: around $20
* Import tax: ca. $30
Total costs, item + S&H&T: $240. That's nearly double the price of the original item. Go suck a fatty.


Edited by koraks (08/22/15 04:07 AM)


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OfflineSoulidarity
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Re: Dow plummets 400+ points [Re: koraks]
    #22125533 - 08/22/15 04:12 AM (8 years, 5 months ago)

but even domestic businesses generally source their products internationally, and alot of it is traded on the value of the USD. and these are then stocked locally, so even domestic products get price decreases as the wholesalers start to pass on savings that flow down into distributor and retail pricing also


but yeah shipping costs eat away at the savings on international purchases too


still, something good to be aware of


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R.I.P. WoodRuss67, Todcasil, TheMerryIguana, The Rompus, Lord Senate.
[/url]


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Invisiblekoraks
Registered: 06/02/03
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Re: Dow plummets 400+ points [Re: Soulidarity]
    #22125536 - 08/22/15 04:17 AM (8 years, 5 months ago)

True that, and most commodities are globally traded in US.  The current economic slowdown gas resulted in lower commodity prices, which is beneficial to consumers. It's a bit more complicated for technical products where several currencies are usually involved including the yen and the euro, and curency hedging is a standard practice with nearly all internationally oriented tech companies. This moderates the effect somewhat.


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Offlinemy3rdeye
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Re: Dow plummets 400+ points [Re: Soulidarity]
    #22125559 - 08/22/15 05:09 AM (8 years, 5 months ago)

Quote:

Soulidarity said:
i'm actually hoping the american dollar depreciates a bit. majority of things are based off of the price of the USD, and so when the USD craps out, products become cheaper to purchase overseas and companies start lowering prices and stuff.

basically wait for the USD to crap out and then start buying up all kinds of electronics at cheap rates




When your dollar goes down it gives you less buying power overseas not more.


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Invisiblekoraks
Registered: 06/02/03
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Re: Dow plummets 400+ points [Re: my3rdeye]
    #22125562 - 08/22/15 05:10 AM (8 years, 5 months ago)

He's in Australia :wink:


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OfflineSoulidarity
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Re: Dow plummets 400+ points [Re: koraks]
    #22125565 - 08/22/15 05:13 AM (8 years, 5 months ago)

ya i agree, especially on an international scale there could be any number of factors influencing price. but i did got told recently by an audio shop specifically that they've had to raise prices to cover costs as a result of the aud/usd exchange rate deteriorating consistently.

as you said, if the USD drops it in someways could benefit the global economy, particularly the price of oil which effects everything to some degree. But then again theres probably other negative flow on effects from a depreciating USD in terms of decreasing foreign investment and reduction in trade from america also. :shrug:

economics is pretty interesting when you start to understand more about the system and how its all interconnected and start to get an idea about the flow on effects that world events can have.


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OfflineSoulidarity
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Re: Dow plummets 400+ points [Re: koraks]
    #22125581 - 08/22/15 05:25 AM (8 years, 5 months ago)

also i read your edit about the lense pricing. its not always like that. sometimes it can work out cheaper. international purchases are more of a hassle as well with time lags and issues about warranties also. most products purchased directly from overseas are covered by warranties where that business operates, which generally aren't recognized in your country.


like when i was looking at purchasing a watch, the prices online were ridiculously cheaper then anything that was being offered in local stores with their excessive markups, and they were refusing to match internet pricing as well because it was too cheap. but the problem was that the warranty that came with the watch was pretty much useless because if anything went wrong i'd have to ship it back to america just to be assessed to see if it even qualifies for a warranty repair or w/e.

back in 2012 i managed to snap up an epic set of headphones at an extremely good price when the AUD was doing well. and i didn't have to pay any postage costs or anything because it was ordered direct through the endorsed retailer, i just paid the price of the product itself.


theres alot of variance with these kind of things. still, good to be aware of these things as they can be beneficial. i think in general domestic purchases are just about always preferable to international.


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Invisiblekoraks
Registered: 06/02/03
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Re: Dow plummets 400+ points [Re: Soulidarity]
    #22125594 - 08/22/15 05:36 AM (8 years, 5 months ago)

That's certainly true, but most of the stuff I'm interested in cannot be purchased new anymore (and certainly not at a reasonable price!), so I'm usually dealing with private people selling their used goods. I feel that in those situations, particularly the customs fees and taxes don't serve their intended purpose of protecting local manufacturers and I would advocate a much more lax regime for used goods for which no good new alternatives are available. It would benefit local economies as well as international trade.


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