Posted on 06/01/2009 1:38:05 PM PDT by FromLori
sorry. sorry. sorry. sorry.
Not to worry, the Messyah says we have hit bottom and are on the road to recovery thanks to his stimulus plan. /s
The ignorance at the Fed is astonishing. They want to pretend they didn’t know what was going to happen when they started buying T-bills? That all of Obama’s debting was going to kill the demand for US bonds? That screwing around with the markets wasn’t going to bite them in the ass?
marker
I have relatives in India, and I may move there until the initial collapse is over. I’d be back before we conservatives storm Washington to retake the US though.
No problem. Barry will just write it off as an inheritance from the Bush Administration like he’s been doing for the past 5 months.
The Obamaloon couldn’t pass an elementary calculus course.
And he makes his cabinet of loon-O-tics look smart.
We are in big, big trouble. I pray that I am on Obama’s jury when we bring him up for charges - right after he and his fellow libart idiots are impeached and sent to we peons for subsequent punishment.
An innocent and sincere question. If this is a potential panic moment, why is the Dow up 221 pts today?
If this happens, then the fault lies squarely with the socialist usurper in the oval office. And don't forget the dim cry:
It's the economy, stupid!
yuh house yuh biwding ah ours........
“Translation, the Fed doesn’t know what is going on, but they are really scared.”
I think they know exactly what’s going on, and that’s why they are scared. China, Japan and Saudi Arabia are quietly trying to sneak out the side door with no one noticing. But at some point someone will shout “fire!” and it will be a mad rush as every entity on the planet seeks to dump dollars and US Treasuries. At that point our ballooning debt becomes internalized and monetized. And yes, we will have a dollar that becomes worthless on international markets, and inflation that makes us yearn for the Carter years.
Add the crushing “Cap & Tax” legislation, the “no drill” executive orders, union payback legislation....we have created the perfect storm for the destruction of the American economy.
I awoke this morning with a feeling of foreboding...a very bad feeling that disaster is looming. I know what’s coming and am resigned to watching it happen.
I heard it was because GM and Citi were yanked from trading today.
But, but, but, but, but the dow is up 221.11 Today
Surley those Ivy league stockbrokers know what they are doing.
In other words, a new civil war or revolution?
I would only have a personal opinion but that would be the calm before the storm or luring in the remaining suckers.
The Market Ticker guy says...
We Are In Looneyville
When a market rally drags a firm’s stock that has declared bankruptcy, and which has filed a plan that will result in the effective total destruction of its common stock, into the green by 20%, you know we live in looneyland.
That would be GM, which opened down at 50 cents but now is trading at 90, up fifteen cents from Friday.
Note that the common is worthless; the prepackaged bankruptcy and Section 363 sale will strip all of the value from the current GM and transfer it to the new GM.
The “old” GM will have a negative net value, which means the common stock (which represents “old” GM) is worth exactly bupkis.
Yes, this is all daytraders playing around - I get that.
But I’d like anyone to explain how GM’s common stock has any value in it whatsoever, and is trading on anything more than pure hype on a big up day.
Good luck with that analysis.
Disclosure: No positions material to this idiocy.
You know the stock market acted oddly before 1929 too.
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