Posted on 09/29/2008 2:35:06 PM PDT by goldstategop
Today’s stock market drop is a record point drop, but does not even crack the top 10 single-day percentage drops in American history.
Let’s stop pounding the panic buttons.
***
On FNC right now, Neil Cavuto emphasizes that lending is going on and puts a damper on Heather Nauert’s panic-button heaving about credit-freeze anecdotes.
Are there businesses getting turned down for loans? Yes.
Here’s a novel thought: Maybe banks are finally learning they shouldn’t fork over money to bad risks.
***
Reader Jamie e-mails this link to a history of US stock market crashes and adds:
I like that the headlines are calling today’s crash the “worst ever.”
In terms of absolute points, sure. In terms of percentages in a single day of trading, 1987’s stock market crash was far worse, and the NASDAQ slide of 2000-2002 was massively worse.
I think news media just can’t resist panic mongering. I imagine them all in the washroom of their office when the soap pump runs out of soap and they all stand around for 10 minutes going, “DOOOOOOOOOM! DOOOOOOOOOOOM!!” until the janitor shows up and puts in more soap.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
BUMP!
Tatt
Thank you, Michelle. It’s astonishing that this simple information. these simple facts, are not trumpeted by elected Repubs/conservatives. WHY DO THEY STAY SILENT??
“Neil Cavuto emphasizes that lending is going on and puts a damper on Heather Nauert’s panic-button heaving about credit-freeze anecdotes. Are there businesses getting turned down for loans? Yes. Here’s a novel thought: Maybe banks are finally learning they shouldn’t fork over money to bad risks. *** “
I had to leave our family room to keep from throwing something at Heather’s outright bs whining re no credit. Her supposed references were the NY Slimes and the whiners at the WSJ.
“Neil Cavuto emphasizes that lending is going on and puts a damper on Heather Nauert’s panic-button heaving about credit-freeze anecdotes. Are there businesses getting turned down for loans? Yes. Here’s a novel thought: Maybe banks are finally learning they shouldn’t fork over money to bad risks. *** “
I had to leave our family room to keep from throwing something at Heather’s outright bs whining re no credit. Her supposed references were the NY Slimes and the whiners at the WSJ.
Anyway:
Here's a post with a link to the Fed site and its credit data:
Here is hoping everyone will take a breath, and let reasoned thought enter into the equation. The Representatives are not saying there is no problem, or that no action needs to be taken. They, and in turn, the American people, just would like to entertain OTHER possible solutions.
Tatt
“The sky is falling!”
Great, sell sky.
No bailouts! Let the free market system take care of it. That’s what common sense tells me - that and ANYTHING Nancy and Harry are for, I am automatically against.
Today’s vote is the best thing that could have happened to the economy at the moment, and the best thing that could happen to America outside of Economics, too. I was getting all set to go into Depression mode this morning. I am much happier at the moment though understanding that the Democrats will now likely pass this thing unaided by Republicans. We have a better chance of undoing some of the Socialism later if no Republican names are on this thing. It is not much to grasp but it is a nice straw.
She was getting on my last nerve!
If it does (and it damn well will if the Secretary of the Treasury and Fed Chairman are to be trusted) I respectfully reserve the right to use my last ounce of strength to raise it a few inches and let it go on top of all 10 of MM’s toes. (Morris don’t get any ideas!).
Keep in mind that when Heather went to the mideast to get her Fox Iraq war campaign ribbon, she was assigned to the relative safety of Amman.
She did her man on the street interviews in the bar of the Holiday Inn.
Alexis was on earlier this afternoon and totally blew her cool. She is like Obama and can read the teleprompter, but under fire, she blew it big time. Not fit for combat or crisis reporting.
Why do I get the feeling there’s a punchline coming after calamitous damage is done. The punchline: “No, but I did stay at a Holiday Inn last night”. And I have a friend who has a cousin whose brother in law sez Paulson’s doing this because he’s got stock in Citibank. Yeah. Take em down! Let’s roll.
/you know this is going to end with the Senate passing a bailout bill. They’ll take the heat. That’s their job, to overrule ya’ll on matters up on the high holy.
Local banks in my area are assuring people that, not to worry, they have money to lend.
I can’t help but feel like we’re being rail-roaded.
Its election season dirty politics. That lumped into the underlying corruption issues, which they’ve decided to pop right now. This is their “October Surprise”. If McCain plays it timidly, its over for him.
Heather’s eye candy who is USUALLY is a little smarter on stuff....
That said this is some complicated stuff going on right now.
I don’t pretend to understand fully everything that’s going on.
Economics 201 and 202 was a looooonnng time ago.
Therefore I’ll cut Her a little slack.
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