http://www.marketwatch.com/
Expect the DOW to drop 350 points when the market opens Tuesday.
Could this crisis be another manufactured crisis that “allows” government to come to our rescue once again?
After all, government is so efficient at abating crisis after crisis. All it takes is some more money to buy off the critics of failure.
I like recessions, my salary doesn’t go down, but prices do. Sweeett. :-)
Well, the market is full of realist, the more they hear about Hillary’s “economic plan”, and more they see as her winning the white house, the more likely it is seen that our economy falls apart.
But it will be for “the common good” of course.....
OPEC profit dollars do not want to see deflation now, neither.
OPEC will probably raise output 1-1.5% (maybe max output levels?) to avert the severity of the upcoming global economic recession. This all parallels with the election cycle except for the sub-prime mess and there's speculation that US debt holding countries will dump another .5 trillion to ease out their own economies and domestic frustrations of their populaces.
Cheaper oil is a sure help in the near future without a doubt.
The large hedge fund managers that have the means to alleviate the pain are being contacted now too all in a coordinated effort. However, re-regulation is needed on the US part to avert another such exposure to the sub-prime circus shell game.
As money changing hands defines an economy, basically, so does debt exchanging hands to some degree.
I seriously doubt though however any one group will be left holding the bag with all the debt. We all (globally) will have to cough up some as the debt cycles through enough hands in the near future so it at least looks like it has disappeared. After all, this is what big business (banking, exchanges, government) does.
"American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage."
~~Alan Greenspan, February 22, 2004
"We're not about to go into a situation where (real estate) prices will go down. There is no evidence home prices are going to collapse."
~~Alan Greenspan, May 21, 2006
“The damage from the subprime market has been largely contained. Fortunately, the financial system and the economy are strong enough to weather this storm.”
Richard Fisher, Federal Reserve Bank of Dallas President, Apr 4, 2007
"I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future."
~~E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928
"Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."
~~Irving Fisher PhD, leading U.S. economist , New York Times, October 17, 1929
"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement."
~~Harvard Economic Society, October 19, 1929
"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan... that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years."
~~R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929
“Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York.”
~~"Only Yesterday: An Informal History of the 1920’s" by Fredrick Lewis Allen
The drive-bys continued this during the Bush 2 campaigns. They DIDN'T do it before the elections of the Boy Wonder from Hope.
The media is amoral and doesn't care two beans if they talk the country into a recession with their scare tactics. The media is the lowest bottom scum in our nation, even below marxist academia, the vulture lawyers and the anti-war traitors.
Leni
I like Herman Cain. He is a nice man. But he is deluding himself if he chooses not to see how disastrously bad things are and will become. It is increasingly hard to see any outcome this year besides a 1932-style Hillary Clinton virtual dictatorship and a subsequent global depression. Bush = Hoover. Saul Alinsky’s wet dream comes true.