Posted on 09/15/2008 1:16:57 PM PDT by illiac
Bad day for Wall Street
(Excerpt) Read more at finance.google.com ...
Yep, most Americans back then had no credit cards, no auto loans etc. IT's going to get nasty before it get's better.
You must be enrolled at the limbaugh school of business...
Emperor-in-Waiting Obama will be screaming for a run on the banks or some other asinine bull.
My layman's feeling is McCain has it right here. The fundamentals are sound and with all we've seen in these last eight years, it's a bit awing just how robust this nation is. It's almost unbelievable. We need to realize, of course, other countries are suffering as well from the so-called mortgage crisis and from higher fuel prices.
The Press and Obama tried painting Greenspan as against McCain's economic plan when he isn't. He is against *borrowing* for tax cuts while McCain's plan is to eliminate earmarks (cutting spending) to "pay" for them.
2 04/14/2000 10,305.77 -617.78 -5.66 3 10/27/1997 7,161.15 -554.26 -7.18 4 08/31/1998 7,539.07 -512.61 -6.37Who was president in 98, 99 and 00? Why, it was Bill Clinton, the Democrat's economic demi-god!
Nope.
Just raw government intervention in a free economy that causes it.
Expat, several years back on the free trade threads you was spouting record home ownership, record family net wealth, record wages etc DUE to free trade.
If free trade was so great why have Americans basically stopped spending money when their food and gas bills went up a measly $100-200 per month?? According to you free traders Americans woould be rolling in the dollars? What happened?
Expat, several years back on the free trade threads you was spouting record home ownership, record family net wealth, record wages etc DUE to free trade.
If free trade was so great why have Americans basically stopped spending money when their food and gas bills went up a measly $100-200 per month?? According to you free traders Americans woould be rolling in the dollars? What happened?
Yeah but the dow was 14k in October 07
Yeah but the dow was 14k in October 07
So many here attempted to blame the poor slobs that went looking for loans...As if the poor slobs had any decision in the approval of those loans.
The SEC (Securities & Exchange Commission) is definitely partially responsible for this volatility and drop in the stock market. They have done a terrible job and need to be reprimanded loud and clear.
1) In July 2007 they (the SEC) got rid of the Uptick rule regulating short sellers which had been in place since 1938 because of short selling bear raids during the Great Depression. Since the Uptick rule was taken out, the volatility on the stock market has increased by 70% as measured by the VIX Index.
2) In November 2007 they got rid of the Program Trading curbs that had been in place since the 1987 stock market crash.
3) The SEC has not stopped the abusive and criminal practice of Naked Short Selling, which is the same as counterfeiting shares of publically traded stock.
These are three major problems that NEED TO BE FIXED IMMEDIATELY BY THE SEC. The results have been a massive amount of increased volatility and instability in the equity markets, reducing the net worth for American investors, driving companies out of business, and substantially raising the cost of capital.
Because the SEC is regulated by the Senate Banking Committee, it is time to write letters to every U.S. Senator sitting on this committee demanding the Uptick Rule and Program Trading curbs be reinstated, and the criminal practice of Naked Short Selling be stopped once and for all.
Here’s a list of U.S. Senators on the Senate Banking Committee. When enough people send them letters, I guarantee you things will change at the SEC - and some heads there should definitely roll for their gross incompetence.
http://banking.senate.gov/public/index.cfm?FuseAction=Information.Membership
My Sam Adams stock is doing just fine.
Kudos to your statement! It is time for some authentic conservatism
There is pitifully little enough of conservatism even on this site that professes a conservative philosophy.
Howdoya blame the slobs when they have zip to do with the approval of the loans?
If I was an illegal alien, or some slob with undocumented income, and or little or no down payment money, would you lend me 300k?
No, of course you wouldn't.
There was no stock "market" crash today, since that happened already long ago (to begin with, yearly inflation of 20 pct since 2006; dollar, index composition, etc).
There was something else today.
Major Banks Collapse- Citicorp, Merrill Lynch, Script was explained before published - fromNovember 2007
http://www.google.com/search?hl=en&q=%22Major+Banks+Collapse%22++Merrill+Lynch+%22Script+was+explained+before%22+%22
Check links proving that EVERY part of the script (including the masses reduced to zombies unable to react until they will be slaughtered) was explained by in ... 1998,
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