Posted on 10/06/2008 7:07:18 AM PDT by icwhatudo
DJIA just prior to House defeat of bailout: 10843
DJIA close the day after House defeat of bailout: 10850
DJIA just prior to Senate approval of bailout: 10831
DJIA close the day after Senate approval of bailout: 10482
DJIA just prior to House approval of bailout: 10679
DJIA close the day after House approval of bailout:??? 9999 and dropping
(Excerpt) Read more at finance.google.com ...
In fact, the US stock market could experience a boom next year because people realize that the European and Chinese stock markets are even more over-inflated than we are.
Obama’s fire in the Reichstag continues.
Wow...boy it sure looks like all those Senators who “knew” better than their constituents that opposed the bill were right. Gee I am sure glad that we were wrong. /sarc
DJIA 8500 could be where the stocks settle, while the rest of the world will suffer some very serious declines in stock value.
Now why did you have to go and add some sanity to this thread?
I wish I could vote for Ron Paul instead of McBama. That “looney” had it it nailed perfectly last year.
I quite agree. What do you predict for the TED spread over the next couple of weeks?
Because money is flooding into the bond market, as the price of bonds goes up the yield goes down.
I think when we look back, this Wall St crisis was the Dems October surprise.
This was well coordinated scam amongst Paulson (Dem), Reid, and Pelosi, along with Soros’ billions manipulating the market.
Bush was taken along for the ride, per usual. I hate to say it but that SNL skit of him (w Frank and Pelosi) was spot on.
Unless something dramatic happens (like video of Michelle yelling “Whitey” or Obama in church during a vile Wright sermon) I don’t think he’ll recover.
It has not hit bottom yet, folks. We are talking about a dip well BELOW 9,000 coming. The fact is, a HUGE amount of dollars simply vaporized, resulting in what is a sharp deflation of the value of the dollar. The confidence game is not yet restored to the market, and may not be for weeks or months to come.
Meanwhile, we have an election coming up long before that bottom of the trough will be reached.
America is SO screwed. Yet if this country suffers only a severe upper respiratory infection, the rest of the world will surely contract pneumonia, of the most deadly variety.
One thing about it, there will a LOT less money available to arm up and go to war.
This is no longer a matter of too many dollars chasing too few goods and services. This is a matter of having NO dollars to chase ANY goods or services.
Economically, this is FAR worse than 9/11. Even if it has not (thus far) been nearly as bloody.
You could add Europe to that list as well, as they are currently well into a recession. In many respects we are in much better shape and ahead of their curve.
Our currency is stable compared to theirs, and this is a good thing that is related to our Fed and central bank.
I'm waiting to close at 5.50%. We were supposed to close on the 30th but it's waiting on the lender to get it's paperwork straight with the gooberment. There are two more motgages waiting downstream on us.
Was talking to an economist who is also a director of a small, well-run CA bank, and she said they had a run . . . of money INTO their bank, in a flight to safety.
dollars aren’t vaporized. Only the Fed can do that
it’s wealth that is vaporized. A contraction, not a deflation.
Unfortunately, I think you’re right. The trick is, to have money when it hits 8500, because once all this shakes out, there will be new highs down the road.
Therefore, something will be occuring that will make the Great Depression look like the Rock and Roll times.
Rates for borrowing being set by politics rather than set by the market, are the cause of this entire fiasco.
Thus, when a gearing (leveraging) crisis occurs, Europe REALLY takes it in the shorts. Euro down almost 300 pips today (Aussie down 500+ !)
I think the U.S. dollar bear market rally has alot to do with oils decline as well as the prospects of a worldwide recession.
The 700plus billion dollar bailout is just the first serving in a 10 course meal. JMO.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.