Posted on 09/29/2008 4:16:58 PM PDT by JasonC
I told you so.
Happy?
Think you saved anybody lots of money?
Think you reduced the role of government?
On saving money, US markets dropped $1.2 trillion today, and worldwide it was more like $3.5 trillion.
On the role of government, the Fed announced $630 billion in new central bank credits today, half of it to central banks abroad. And oh, the FDIC guaranteed to Citigroup all losses beyond the first 13% on Wachovia's mortgage book, which is around $300 billion.
And it won't be remotely enough, and will probably need to be doubled tomorrow.
When are you going to learn that you are in the same boat with those you are throwing brickbats at, that you are their creditors and end owners, and that destroying as many as you like will not avert one dime of the hit, but just multiply it tenfold and drop it right back in your own lap?
How many times does this have to blow up in your face in succession, before you admit the possibility that others might actually know something about it, and you might actually be wrong?
I will always say no to socialism.
Burn baby burn....
we were in this situation before the bail out theory...no indication that the people with the bail out money intended to change their habits...so we are just facing realty rather than postponing it for a worse reality....
Oil is dropping; so there IS a silver lining.
I wish I’d invested in Self-Serving Free Republic Vanities two weeks ago. I’d be a trillionaire.
She made me think things are NOT the same as she has been telling us they are.
Something smells fishy.
If the ‘value’ of these stocks and other assets is legit, the money will come back to them in short order. And if the value is actually phony and inflated (which it is) then it’s proper economics for those assets to go to their proper valuations. Those who are so flustered by the DOW going down or their phony real estate equity disappearing are simply beneficiaries of a phony run-up, and you want the rest of the country to dig deep so as to keep your phony assets propped up. Sorry if I don’t really care.
How many times are you simply going to make up total bullshit and call it facts? Your “facts” here are wholly without any base in reality. Total make believe. Utter nonsense. What vanished today was some decimal places on some balance sheets. Nothing more.
That’s like saying no to the ocean when you find yourself adrift without a boat in the exact middle of the Atlantic.
Oh, so now we judge the effects on 1 days trading and not days, weeks or even years. The market will work itself out. Companies will purchase other companies. The sun will rise. I guarantee it.
Like the person quoted here?
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy. “It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”
You forgot “shameless” in your list of adjectives.
They changed their habits quite decisively, thank you very much. But you haven't changed any of yours. Don't worry, you will get to, and soon enough.
Wow! Let me ask you something. Do you get autograph seekers when your a legend in your own mind?
"see my broker is JasonC and he says....." when JasonC talks.....nobody gives a sh!t!
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