Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo
Looking at hugh panic in global mkts right now. This is vey series.
Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.
Ya gotta look on the happy side. The industries hardest hit are the ones most populated by illegals. Maybe they’ll all go home now.
bookmark
Wait a little longer and the buying opportunities will get sweeter.
Thanks to John McCain for supporting the bailout and, cowardly, not saying a word on the floor of the Senate when he voted in favor. What a missed opportunity to throw his lot in with the Adam Smith Republicans in the House.
It was triggered by mortgage defaults which lit the fuse on the huge credit default swap explosion. This is bigger than Paulson, the Dems and the government. They're just trying to keep the lid on a powder keg.
The large, unregulated CDS market in which Wall St is/was immersed is now the issue and as you saw over the weekend and this morning, this has spread to Europe.
It amazes me that Freepers are still blathering on about opinion polls and what Obama said, etc, etc. The presidential race is a side show right now as far as solving this problem is concerned. By the time January comes around, whoever is elected will simply be raking through the ashes.
Cramer needs to be fired NOW. That man speaks before he thinks. How many times has what he said bitten him in the ass.
So false as to be ridiculous.
The market didn't want this bailout at all.
Ditto.
Thanks. So this is something that can feed in on itself.
Agreed. Many Republicans went along with this populist nonsense, simply because they wanted to retain votes while the journalism majors were telling us that we needed it so badly, and so quickly. Well, the deed is done, and the very predictable result is progressing along just fine. As always, the markets do what they do.
Dream on.
And BTW the bill passed does include buying all the crap from the rest of the world too.
You need to look at fundamentals. The market is toast for a while.
And a tip of the fedora to "Christian" Mike Huckabee for the major role he played in making "The Mummy" the GOP candidate for the presidency.
Just remember: "The bigger the bundle , the bigger the bungle." - tom
Why not just print our own, and save the gas? People need slips of paper with dead Presidents on them, well by golly, NOW is the time for American Patriots to come to the assistance of our government!
Patriots PRINT MONEY!!!!
( I have to log off and get down to the lickee store)
Sold to you.
Ever hear of bear market rallies ?
I've read that once the details in the bailout are discovered by those who would be bailed out, they will opt out and choose to not partake.
If the FedGov is to take all the control and all the profit away from you and your company, why would you invite in such a parasite?
Restrictions on "golden parachutes", profits (of those in charge of making the decision whether or not to partake of the bailout bill stipulations) all gone... you think they will vote to take the FedGov money?
Interesting that the stock market went up when the boondoggle was voted down but now is going down since they rammed it through.
Would someone explain this for me?
No, the dow fell $1.2 Trillion when it failed to pass. Politicians came out and said it wasn't dead, and it got a dead cat bounce the next day where it regained half of its loss only to lose it the next two days. It fell when it passed, but because the credit markets were that much worse by that time, and it was announced a major insurer was about to fail. By the time we passed it, Europe was scrambling to react and was having banks fail.
We need to drastically improve education in America. It's clear to me most freepers don't understand banking or the economy. And freepers are light years ahead of the DU dummies.
You truly have your head in the sand.
You think the market wants to see poor decision-making, based purely on PC nonsense, rewarded when it leads to poor balance sheets? Some FOOLS might want that, but certainly not the MARKET.
Clinton upped the taxpayers debt in all this in 1995. The "free housing for the democrat base", or 1995 community reinvestment act, ballooned and flooded the market. All the democrats literally ran for their free houses Bill said they could have. The whole house of cards fell when the lefts "share the wealth" plan shared too much wealth that wasn't theirs to share in the first place. The socialist balloon popped. Values plummeted, and here we are today.
See 237.
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