Posted on 10/15/2008 7:17:16 AM PDT by Red Badger
9,009.60 down -301.39 -3.24%
(Excerpt) Read more at moneycentral.msn.com ...
We learn nothing from history..............
I can only say that I sold everything I happened to luckily buy
at the start to the rise on Monday.
I’m back to even on my short-term deals.
I’m NOT gloating...I’m thanking Providence for dodging another bullet.
And I am now going to step back until some sanity returns to the markets.
If ever.
Right now I’m modestly happy at NOT having purchased some of the
stocks hyped by the TV/Internet talking heads.
And watching most all of them bleeding value by the minute.
I don’t wish distress to anyone in the market.
But I can’t help saying as I watch the ticker “Thank You,
G-d, for somehow staying my finger from clicking the mouse and buying
into that disaster.
When one of the CNBC commentators mentions that GE is still falling
(after Buffett’s buy-in) and says “what a dog” about the parent company
of his network...you know things are bad and insane.
Although I think Jim Cramer is at least mostly an actor/buffoon...
Bernanke, Paulson, Dubya and all the other government poobahs need to
STAY THE H-LL OFF TV as Cramer has advised.
The Dow crawled it’s way down to Minus 500 pts during Bernanke’s speech today.
Thanks for the interesting link. (And yes - I do end up with quite a bit more with McCain in office.)
Look at the yield on 3-month Treasury Bills right now. It is 0.15! That is bad - really bad...The big money is running petrified to safe haven.
Man - I didn’t think I yelled it THAT loud when I turned on the TV and say Bernake! (My exact same words!)
I think I’ll move to Iceland. It’s pretty cheap, now, I hear....
8,786.43 down -524.56 -5.63%
Let's see if it rallies into the close.
I hope he tries.
That would be one heck of a rally!..........
Not if you're Bernanke standing in a back room pumping his bicycle pump for all that it's worth.
I actually expect the Dow to end the day losing just over 7%.
Just my guesstimate....
Great! Pass it along to your family and friends. Here's the link again (calculator is on the left hand side).
OK...so it was a 'little more' over 7% than I thought.
Do I still win the stuffed animal?
No, but you got stuffed.........(Brit slang)............
Nope. But a lot of the sheeple did.
I went to cash in December 2007 - I've got cash on hand - I've got precious metals holdings - and I've got a food supply to last my family months.
Iceland is looking better everyday.........
Dow closing DOWN 733
Dubya needs to give an SECRET executive order to Paulson and Bernanke:
“None of us will give ANY sort of interview for at least a week.
AND
we will push, shove and use a stick if we must, to get those nine
banks to start really freeing up credit!
And get those LIBOR rates down. Even if you have to pay some bribes
to the Europeans!!!”
They’d be better off to go on TV and say “We’re not going to buy ANY banks.”................
That sounds like something out of Lenin's playbook and it won't work. As Ron Paul, the only guy saw this coming, warned repeateldy we need to let the malinvestments collapse and a have a quick readjustment. Pouring more money into this sinkhole will only delay the recovery. There ain't no such thing as a free lunch no matter how many guns the government points at people. Unfortunately, this is something that Bush/McBama just don't understand.
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