Ping!
how did we land on friday here, I can’t recall...
MAN US dollar getting kill like Godzilla smackdown Tokyo LOL!
Fed acts Sunday to prevent global bank run Monday
By Rex Nutting, MarketWatch
Acting quickly to prevent a run on major global financial firms, the Federal Reserve cut its discount rate by a quarter percentage point to 3.25% and offered to lend money to a longer list of firms than ever before.
http://www.marketwatch.com/news/...5F05D859B76%7D&siteid=rss
There is panic in the air. Fed cut. Bear Stern bought for a lowly $2 a share. Emergency Fed meeting scheduled for Tuesday.
Look out below!
Spot gold and silver in Asia have gone ballistic and hit new all-time highs, another sign of interest.
http://www.kitco.com/charts/livegold.html
Gold up more than $20/oz from Friday’s close, to around $1,025.
Ugly opening tomorrow for NYSE and NASDAQ.
The Great Panic of 2008 is underway. Gonna be some amazing stories for the grandkids. My Dad is 80. I never thought he might live through 2 Depressions in a single lifetime.
WE ALL GOING TO DIEEEEEEE
Dow losses accelerating. Nearing -300 now.
Nobody ever thought the US consumer would eventually run out of credit...
Not good.
Goldman, Lehman, Bear Stearns, Morgan Stanley all report.
This week we could see bottom.
Good time to buy IMO.
All the worlds financial news networks are fired up right now on these events. Tomorrow is going to be very ugly.
It looks like it’s going to be another “BLACK MONDAY”...:(
“You did a hell of a job, Benny”
| INDEX | VALUE | CHANGE | OPEN | HIGH | LOW | TIME |
|---|---|---|---|---|---|---|
| DJIA INDEX | 11,700.00 | -284.00 | 11,971.00 | 12,124.00 | 11,686.00 | 22:32 |
| S&P 500 | 1,253.90 | -39.10 | 1,287.50 | 1,313.00 | 1,253.60 | 22:32 |
| NASDAQ 100 | 1,679.25 | -45.25 | 1,720.25 | 1,754.50 | 1,678.50 | 22:29 |
That’s alright with me. May the punishment come in the form of a now-needed 1.25% rate cut and $200 oil. We need new blood in business anyway: enterprising, young graduates compelled to team-up to do domestic manufacturing and put an end to the slovenly shell games that we’ve been seeing.
We can use much less fuel with another production (and thereby, pro-family) paradigm. “Do real work by making products!” (and “One car in every garage!”). Those have a ring to them. :-)
Tomorrow you will see the Fed enter the stock market through surrogates to buy Dow and Nasdaq componants with printed money to artificially bolster the market. What has happened here was the push to let more people have a piece of the pie resulting now in no pie for those who deserve pie. Total social engineering turned into horror. We were poorly led.