Stock Market update: Everybody panic!

[Politenessman]

Originally Posted by AVGWarhawk

Certainly the expenses of day to day living before the late 80's is much less than what we experience today. For example, today's world just requires a cellphone and cable TV. Both of these cost. These are expenses my folks did not have before the late 80's.

At risk of stating the obvious. no it doesn't.
Most of the world has neither.
What has changed for many 1st world people is expectations and an ability to prioritise, they expect to be able to afford a high end mobile phone and TV/broadband and an annual vacation, a 'gap year' at the end of university and all sorts of things that were considered luxuries not that long ago and will take on debt to get it.
Also, in many cases a willingness to go into debt to study subjects that have no likelihood of paying that debt off - I put that down to well meaning fools telling their kids to study "what they love" or "follow their passion" rather than telling them to study what will pay and use that money to fund following their passion/doing what they love in their spare time.

[AVGWarhawk]

Originally Posted by Politenessman

At risk of stating the obvious. no it doesn't.
Most of the world has neither.
What has changed for many 1st world people is expectations and an ability to prioritise, they expect to be able to afford a high end mobile phone and TV/broadband and an annual vacation, a 'gap year' at the end of university and all sorts of things that were considered luxuries not that long ago and will take on debt to get it.
Also, in many cases a willingness to go into debt to study subjects that have no likelihood of paying that debt off - I put that down to well meaning fools telling their kids to study "what they love" or "follow their passion" rather than telling them to study what will pay and use that money to fund following their passion/doing what they love in their spare time.

No one expects to afford a high end mobile. There are plenty pay as you go flip phones. But, in the 80's there was public pay phones on every corner. Not anymore. A mobile phone is a necessity. The street corner .10 cent phone is not longer available. Calling a cab or setting up a drug deal from a payphone is not longer a option. And as with the automobile, life has been directed with the use of an automobile. Life is also directed with the use of a cellphone. Many business, including my own, require a cellphone. In the 80's a cellphone was not required in places of employment.

Television, in my neck of the woods a special box is required to still received "free" television. The free TV channel selection is very minimal.

I'm not sure why the tangent on telling kids what to study, follow a passion or what they love have to do with expenses of cable TV and a cell phone.

[Politenessman]

Originally Posted by AVGWarhawk

No one expects to afford a high end mobile. There are plenty pay as you go flip phones. But, in the 80's there was public pay phones on every corner. Not anymore. A mobile phone is a necessity. The street corner .10 cent phone is not longer available. Calling a cab or setting up a drug deal from a payphone is not longer a option. And as with the automobile, life has been directed with the use of an automobile. Life is also directed with the use of a cellphone. Many business, including my own, require a cellphone. In the 80's a cellphone was not required in places of employment.

Television, in my neck of the woods a special box is required to still received "free" television. The free TV channel selection is very minimal.

I'm not sure why the tangent on telling kids what to study, follow a passion or what they love have to do with expenses of cable TV and a cell phone.

You don't need a mobile phone, nor do you need a car, or for that matter, a TV - they are lifestyle/financial choices you make and if your workplace requires a mobile phone, they can supply it.

If you 'need' a mobile phone to set up your drug deals, you have bigger issues than phone affordability to be getting on with.

Re telling people what to study, you might have noted people were complaining about University debts in this thread, perhaps reading the thread before commenting on 'tangents' would be helpful in future?

[Betonov]

No one will employ you here if you don't own a mobile phone and employers will give people with their own cars preference in employment.
And lets not forget internet. You can't even send a job aplication anymore without an e-mail adress. Well, you can but without an e-mail adress at the header your aplication will roam straight to the ignore and shred pile.

And mobile phones are cheap, they're no longer a luxury for the rich. I paid €200 for my phone, it's still going strong 2 years later, my monthly charge is a fixed €10. That's not luxury, that's cheaper than food.

[AVGWarhawk]

Originally Posted by Politenessman

You don't need a mobile phone, nor do you need a car, or for that matter, a TV - they are lifestyle/financial choices you make and if your workplace requires a mobile phone, they can supply it.

If you 'need' a mobile phone to set up your drug deals, you have bigger issues than phone affordability to be getting on with.

Re telling people what to study, you might have noted people were complaining about University debts in this thread, perhaps reading the thread before commenting on 'tangents' would be helpful in future?

Sure, you don't need a phone or car...if you live in the city. Even so, no street corner public phones. So yes, if one want to enjoy city life without phone/car they can. And get grip, not all companies pay for your cellphone if used for company business. The reason being the phone can be used for personal use. My last job in sales required a phone at my expense.

Please note I have two daughters in college and well aware of the cost for higher education. The thread concerned the stock market. So why the tangent on university debt in the thread at all?

[Oberon]

Originally Posted by AVGWarhawk

Please note I have two daughters in college and well aware of the cost for higher education. The thread concerned the stock market. So why the tangent on university debt in the thread at all?

I think it was down to the old 'Young people have it too good' syndrome.

[Oberon]

Massive sell off in US stocks, the DOW has slumped over 300 points, oil prices slipped below $30 a barrel for the first time in over a decade, and the Chinese economy is an ongoing concern.
Earlier this week an internal note in RBS was leaked, written by an Andrew Roberts its advice was 'Sell mostly everything'.

The Bull Run looks to be drawing to a close, prepare for the Bear.

[STEED]

All part of we must keep that I.O.U paper going.

[Mr Quatro]

Originally Posted by Oberon

Massive sell off in US stocks, the DOW has slumped over 300 points, oil prices slipped below $30 a barrel for the first time in over a decade, and the Chinese economy is an ongoing concern.

U.S. stock markets sharply lower on Friday, with the Dow Jones industrial average briefly declining more than 500 points.

This news is even more disturbing for USA and China:http://abcnews.go.com/Business/walma...ry?id=36315019

Walmart is closing 269 of its stores, including 154 locations in the United States, the company said today.