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NYSE halts trading

Good Knight Sweetheart

Good Knight Sweetheart

Todd's Tiki Bar
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Jun 1, 2001
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RT@cnnbrk:
New York Stock Exchange has halted trading in all stocks. NYSE says it's "temporary" and more information to come, @CNNMoney reports.
 
Gee the NYSE goes down, United goes down, one of the largest real estate management systems has issues and who knows what else. All the while the Chinese Stock market is collapsing and we are to believe these are just blips. got it.
 
sideshow2313 said:
Wall Street journal online was down too.
Click to expand...

I think WSJ was just flooded with people trying to find out what was going on. People were nervous as it was after the drubbing in Asian markets continued yesterday.

It was odd to see two huge IT system failures happen within hours of each other (on systems critical to the economy). It wouldn't surprise me if some latent vulnerabilty that was common in some application used by both United and NYSE was exposed. CISOs wouldn't admit it right away because 1) it would send others on a frenzy looking for the exposure and 2) the ridiculous amount of pressure they have to not have an exposure (something that is largely out of their hands).

I don't envy CISOs or security engineers in this day and age.
 
UCFEE said:
I think WSJ was just flooded with people trying to find out what was going on. People were nervous as it was after the drubbing in Asian markets continued yesterday.

It was odd to see two huge IT system failures happen within hours of each other (on systems critical to the economy). It wouldn't surprise me if some latent vulnerabilty that was common in some application used by both United and NYSE was exposed. CISOs wouldn't admit it right away because 1) it would send others on a frenzy looking for the exposure and 2) the ridiculous amount of pressure they have to not have an exposure (something that is largely out of their hands).

I don't envy CISOs or security engineers in this day and age.
Click to expand...
Hey look at this guy! He's knows everything just like 85 with the only difference being is he's always wrong!
 
I flew out of DCA yesterday and saw people melting down over the United mess. Felt bad for them.

It's unsettling that a computer issue can grind US air travel to a halt.
 
I love technology. But I also hate it. The fact that a majority of this nation's wealth, mine and your's included, resides as ones and zeros on servers that are god-knows-where is furthering my belief in transferring those ones and zeros into PHYSICAL representation in the event of a catastrophic anomaly or other event that would wipe that information clean.

Being in technology, I have also learned not to trust it with my life savings.
 
Malthus Doctrine said:
I love technology. But I also hate it. The fact that a majority of this nation's wealth, mine and your's included, resides as ones and zeros on servers that are god-knows-where is furthering my belief in transferring those ones and zeros into PHYSICAL representation in the event of a catastrophic anomaly or other event that would wipe that information clean.

Being in technology, I have also learned not to trust it with my life savings.
Click to expand...

I would wager that 90% or more of the world's money supply is entirely digital. If someday, somehow, a calamity hit world digital financial markets, records, and bank accounts and wiped the 1's and 0's clean, having some hard currency really wouldn't matter at that point anyways.

The new currency would be land, firearms, ammunition, and food/water.
 
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UCFKnight85 said:
The new currency would be land, firearms, ammunition, and food/water.
Click to expand...

EXACTLY.

Ladies and gentleman, regardless of your political-party-religion...this is called "living with a good grasp of reality". Keep some money in traditional IRAs, Funds, etc...but always have a physical medium. Be your own "gold-standard".

Focus on the "what is"...not the "what ifs".

BUY LAND. It will always "be". That's a "what is" for example. The only reason why government would take it from me is if there was some Marxist/Leninist revolution of some form...which I would be probably be dead anyway because I wouldn't go down without a fight.
 
Some truth to that, but practical skills would be the most valued currency. Successful people would be the ones that are able to form social groups that include others capable of rebuilding a society, and those groups would rebuild quickly. It wouldn't be every man for himself for very long. The people hiding on their land alone hugging their guns wouldn't thrive.
 
UCFEE said:
Some truth to that, but practical skills would be the most valued currency. Successful people would be the ones that are able to form social groups that include others capable of rebuilding a society, and those groups would rebuild quickly. It wouldn't be every man for himself for very long. The people hiding on their land alone hugging their guns wouldn't thrive.
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You have to be able to punish the successful people though to support the leeches. If there is no money currency what are you going to take from them?
 
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Bob the Knight said:
You have to be able to punish the successful people though to support the leeches. If there is no money currency what are you going to take from them?
Click to expand...

Funny thing, the people with no practical skills other than being an asshole that used to have a lot of money would become the leeches in this hypothetical society.
 
UCFEE said:
Funny thing, the people with no practical skills other than being an asshole that used to have a lot of money would become the leeches in this hypothetical society.
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So the majority of rich people are not successful? They got rich by being assholes?
 
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Um...correct me if I'm wrong, but I'm pretty sure all LLC's are constitutionally-protected assemblies of people that work together for a common goal and mutual gain. I don't think that would change if the parameters of cost/value relationships were to change.

I also think some people forget about the right to eject from society...the right to not participate, that is protected via the same legislation that protects Native American reservations, the Amish, Mennonites and various new-age communes around the country.
 
Malthus Doctrine said:
I love technology. But I also hate it. The fact that a majority of this nation's wealth, mine and your's included, resides as ones and zeros on servers that are god-knows-where is furthering my belief in transferring those ones and zeros into PHYSICAL representation in the event of a catastrophic anomaly or other event that would wipe that information clean.

Being in technology, I have also learned not to trust it with my life savings.
Click to expand...

BUY GOLD!!!!
 
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UCFEE said:
No, not a majorty. But a lot of wealthy people would be exposed as having much less practical value than their wealth would imply.
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You sound really butthurt about not being rich.
 
You just called rich people assholes and implied they don't deserve what they have.

What do you call that if not envy?
 
I'm not a conservative...I'm more of a "f*ck the mob" type. (shrug)

Oh, build any portable solar-powered inverters for your tailgate? Of course not...you're more worried about what everyone else is doing.

I built one...because I'm "progressive"...but I don't need a guvment or company to persuade me.

Baaaaaaa. If all I get is being called an "asshole?" I can live with that. Because, like, I'll be living...and stuff.
 
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Bob the Knight said:
You just called rich people assholes and implied they don't deserve what they have.

What do you call that if not envy?
Click to expand...

I called some rich people assholes that don't deserve what they have, which is true.

If you could plot financial net worth versus true value add, you'd see plenty of people off that curve... People that have made critical and groundbreaking research discoveries in a university lab without which certain products could never be created but that barely have made a teachers salary would be outliers on one side of the curve, and those that have masterfully taken advantage of others to become wealthy (or just got money from their parents) as outliers on the other side of that curve.
 
UCFEE said:
No, not a majorty. But a lot of wealthy people would be exposed as having much less practical value than their wealth would imply.
Click to expand...
For God sake you're an idiot. Take away the money from the 1% and 90% of them would figure out how to be more successful than most again.
 
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My family goes back to a team of Patent attorneys in Chicago at the turn of last century. That has built up over time. I, myself, carried that torch and I am fully aware than I am lucky. The pure value of an individual is not what they consume or show, but how much they can influence others in their micro-environment. Screw the government. That is what I dedicated my "wealth" to. Example: I have always heard about people going "GREEN! GREEN! GREEN!". Seeing that the people with the loudest mouths in that regard don't practice what they preach, I took it upon myself to utilize my money towards creating a power source for tailgating that's portable, cost-effective, and practical. Not only will it eliminate a need for gas, it is a conversation piece and will create inquiries...

So...please, don't say I'm impractical. But please inquire with me if you would like to learn about such a portable power source that provides 1500 watts of continual, silent, fuel-free energy (enough for all your tailgate gear)
 
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UCFEE said:
I called some rich people assholes that don't deserve what they have, which is true.

If you could plot financial net worth versus true value add, you'd see plenty of people off that curve... People that have made critical and groundbreaking research discoveries in a university lab without which certain products could never be created but that barely have made a teachers salary would be outliers on one side of the curve, and those that have masterfully taken advantage of others to become wealthy (or just got money from their parents) as outliers on the other side of that curve.
Click to expand...

You're like a walking cliché of stupid left wing talking point.

Wealthy people just take advantage of others- that's the only way to get rich!

Oh, and rich people don't deserve money, they inherit all of their wealth! Not if you listen to people who actually research this stuff. First, in 2012 a study was published that reported 85% of millionaires in America as being self-made. Meaning nobody handed them a thing.

In 2013, a study on US billionaires showed that 69% of those on the Forbes 400 list started their own business which is up from just 40% in 1982. They also found that just 32% of people on that list came from very rich familiies, down from 60% in 1982.

Point being that the overwhelming majority of millionaires and billionaires are self made people who devoted their time and effort to an idea that grew into a million/billion dollar demand globally.

http://www.chicagobooth.edu/capideas/magazine/summer-2013/billionaires-self-made
 
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