Posted on 10/06/2008 6:45:04 AM PDT by TigerLikesRooster
heads I win, tails you lose!
what economists were for it? none were consulted. politicians are just a bunch of economically illiterate lawyers who know how to sell their message
Pelosi, Reid and Franks =I wonder what makes them think I know it isn’t brains.
How do these idiots get to be in power?
Oh, that's right, if you say the same thing over and over and over, like, "recession" maybe we'll have one (better yet, how about depression at this rate). They have no idea what they are doing and when they spew off like they do it just F's up the markets all that much more.
MORONS! All of them!
It's too bad we can't get a movement going to vote any and all incumbents out and go for a party like the Libertarians in their place. But, it would have to be orchestrated and have every Republican and DemocRAT vote go to the predetermined party... which will never happen because there are too many sheep out there... for both parties. (... and I'm not for Libertarians necessarily, it was just a party that wasn't the two prominent ones that are out there now).
I wish to God we could vote all of them out today!
S&P 500 plunged through support at 1080 level. Next stop is 960. 770 is where we bottomed in 2002. Hopefully we can stop this at 960 but this thing is so massive and out of control that it is looking like we go right down to the 770 level. I can’t see going below that but then, I’ve never seen the formation of a depression, live and in real time. Very hopefully the market bottoms at 770 and we get a nice toasty recession and nothing more.
This is what scared Greenspan and Wall St. biggies back in 1998 or 2000. They said, unless they do something, the depression or the worst financial crisis since WWII is coming.
Now that I look back, I ams pretty sure it was actually a 'nice toasty recession.':-)
I heartily agree with you that we only faced a recession in 2000. Since then, we have blown a massive credit cycle leveraged 20 times or more with credit derivatives. I’m not so sure we are in for a mere recession this time. I am hoping for a repeat of the 1970s at the worst, but I fear it could be something between that and the 1930s. I just don’t know, which is reasonable, seeing as nobody else knows.
Do you think a depression is unlikely? I think it is unlikely but very possible.
You share my fear, but to be honest, I am in complete denial. I just can’t bring myself to admit the possibility of a depression. That said, I’m in a completely defensive financial mode. Just because I am hoping against a depression does not mean I can’t prepare for one. “Hope for the best but prepare for the worst.”
Thank you for your honest opinion. Nobody here wants to go on record as either predicting a depression or admitting the chance of one. Certainly, nobody in the financial media is willing to do so. Everyone is still saying “recession”.
Well, that fat $700 billion bailout certainly didn’t do much for the market. Guess it just wasn’t enough to suit the Wall St. chickens. It’s a good thing farmers and small businessmen aren’t as adverse to risk as these spoiled fat cats are.
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