[VOA]

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.

I'm an absolute moron on valuations of currencies.

But your report on the Austalian dollar seems shocking to my
naive brain.
As the last page of the editorial pages of The Wall Street Journal
(just before the last "A" page that usually is just a big advert)
is penned by an Australian summing up the situation of how liberal
the US mortgage system (no-recourse home loans) is versus the
conservative (sensible in VOA's book) nature of mortgages in
Australia.

[dragnet2]

bookmark

[OB1kNOb]

Well, I guess we’ll see now if Obamassiah really is the anti-christ and pulls the world out of this global financial crisis with a brilliant economic solution and a one world currency (tongue only slightly in cheek).

[Grunthor]

WOW! THANK GOD FOR THAT (theft) BAILOUT!

[mkjessup]

You should see the panic North of us, the Toronto Stock Exchange was down 1185 points at mid morning, they are freaking out.

[Daryl L.Hunter]

Why do I get a strange sense of satisfaction as our economy goes down the toilet along with my 401K and my children's 529 college funds.

The "Welfare for Wall Street" $700 billion atrocity is passed and the market continues to spiral downwards and I smile.

How perverse is that?

[Syncro]

Well they bailed out the ones that caused the problems by throwing money at them which they are hording, without making them accountable for their dastardly practices of loaning money to people as a social experiment (ie loan to illegal insurgent invadering colonists and welfare recipiants with no hope of making the payments.)

They made their money, spent it and the gov gives them a trillion $'s.

Taxpayers holding the bag, one of the big banks/lending institution has massive catered party (VERY expensive) for VIP millionaire/billionaires to celebrate.

[hiredhand]

Oh but the masters in D.C. have taken care of this!

Pay NO attention to the MAN behind the CURTAIN! For I AM OZ!

Momentum and mass are a peculiar thing with a nation this size. But even still, the physical laws apply to nations and eventually momentum comes to halt and mass erodes. Unfortunately, last Friday was an accelerator and not a help.

[sam_paine]

DJI: 9800....levels not seen since OCT 2003!

5 yrs is panic? Y2K was panic. 9/11 was panic. See how that turned out?

[BlazingArizona]

I TOLD YOU SO: Last week, the market was dropping not because it thought a bailout was uncertain, but because it looks 6 to 9 months ahead and sees credit and jobs drying up for an extended period of time. Basically, no business is going to sell anything for the next year. Investment advice: go for strict necessities like utilities and big box grocery.

[XR7]

EMERGENCY!
EMERGENCY!
We need a $700 bailout!
We need it now!
We'll load it down with pork to make it go down easy!
(But we don't know if it will work - but we need it now!)
No, I did'nt read the whole thing - but I'm all for it!

"And, I signed it!" -- G.W. Bush

[Matchett-PI]

Obama & Friends: History of Radicalism in 6 parts:
http://www.youtube.com/view_play_list?p=9F8A48061A962CDD

NOTE: Part 6 shows Obama’s DIRECT INVOLVEMENT with the very ones who are responsible for agitating for the circumstances that put us into the financial crisis we are in right now.

In 2006, Obama campaigned in Kenya for a Christian Church burning, radical Black Muslim in 2006. The camera doesn’t lie. Watch him on the bull horn here: http://uk.youtube.com/watch?v=S8QcpdUtxNQ&feature=related

bttt

[G8 Diplomat]

October 1929: Stock markets crashed
October 1987: Dow plunged horribly
October 2008: ________

Flailing economy, socialist bailout, weak dollar, falling Dow, falty world markets.....the blank will fill itself in sooner or later. We’re screwed.

[kanawa]

To hell with it, I just put $3500 on credit for major dental work.
If I’m going to be eating old shoe leather I’ll be needing some good choppers.

[VOA]

Interesting to watch the Dow drop bit-by-bit during Lehman Brother’s
Richard Fuld’s testimony in The House.

I wonder if there’s fear he’s gonna’ name names of his fellow fraudsters.

[dr_who]

Probably a bad time to pull money out of stocks, seems to me. Jim Cramer on Drudge was apparently fanning the flames saying that anyone who was concerned about their money in the market over the next five years should withdraw now. In case no one’s noticed, there’s been a downward trend for the better part of a year now. People should have gotten out quite a while back. Doing so now can only hurt them. Best thing to do is hope that the market starts going back up a couple years from now, maybe longer, especially if a president Obama takes this to be a sign from God that he should bring about a second “New Deal” or worse.

[XR7]

If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.

With Enron, you would have $16.50 left of the original $1000.

With WorldCom, you would have less than $5.00 left.

If you had purchased $1000.00 of Delta Airlines stock you would have $49.00 left.

If you had purchased United Airlines, you would have nothing left.

If you had purchased Lehman Brothers, you would have nothing left.

If you had purchased Merrill Lynch, you would have $2.00 left.

If you had purchased AIG, you would have $5.00 left.

If you had purchased Washington Mutual, you would have nothing left.

But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, then turned in the cans for recycling, you would have $214.

Based on the above, the best current investment advice is to drink heavily and recycle.

This is called the 401-Keg Plan

[se_ohio_young_conservative]

Enjoy your money while you have it. LOL

[Moose4]

Hey, I just got here. Time to start drinking heavily yet? (And saving the empties for that 401-Keg plan?)

}:-)4

[VRWCmember]

Last week, the "experts" talked all week about how on Monday the big point drop was because the House voted against the bailout bill, and the recovery on Tuesday was in anticipation of Congress doing something to get some kind of bailout bill passed within the week. However, a look at a 10-day chart through today belies that explanation. Clearly more than half of Monday's drop was before the House vote when all the reports were indicating that a deal had been reached. And after the bill was passed by the House on Friday, the market continued to drop.

The lamestream drive-by media analysis of the market is bogus.