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 ...
“Don’t run we are your friends..Don’t run we are your ...”
I will vote for change...just not Obama’s kind.
Grab your cash your guns and your bible. The ponzi is going down!
“why is the cost of borrowing money “decreasing”?”
Not at our bank (Wachovia). We locked in our mortgage last Tuesday at 5.875% and it went up several hours later. It hasn’t gotten back down to that rate yet. I watch it daily!
I thought that $700 billion Bush and Pelosi sold us on was supposed to save Wall St which was needed to rescue Main St.
What a bunch of crap.
$700 billion to Fat Catters who can now wipe out their bad loans and sell off their stock.
We’re screwed.
Simple there is no money.
Maybe the Congressional intervention into the mortgage marker caused the problem and now the bailout will make it worse by prolonging it. This is now a global problem with no simple fix.
cost of borrowing money “decreasing”?
Lots of money available.
They’re taking their cash from stocks.
This is what happened in Germany when the Nazis got in. Wonder how long we have if Obama wins.
Get a grip.
Has Obama released his plan yet?
Or, maybe the $150 billion Fund to create 5 million permanent “green” high paying permanent jobs and eliminate our dependence on imported oil will cover the tanking equity markets too?
We need The One’s divine intervention to stop this spreading credit crisis.
Out riding our bikes yesterday and ran into a liberal college teacher that is in our bike club. All they could complain about was him losing $40,000 last week in the market. I mentioned Arnold wanting $7 billion from the feds and she said no wonder look what party he is in. I said, right, he is a member of the dimocrat party because he is married to a Kennedy. I then told them that Fanny and Freddie WERE DIMOCRAT RAN ORGANIZATIONS, FOUNDED BY DIMS, RAN BY DIMS, PUSHED BY DIMS, THREATS MADE BY DIMS TO GIVE LOANS TO UN QUALIFIED BUYERS, yada yada yada, and they just huffed up and rode off as quickly as they can. Hit them with the facts, they fold and run.
As I watch my oil stocks drop 27% this morning... (there may not be a bottom).
I wonder what this drop in oil prices will do to IRAN and Venezuela who recently wanted to cut production and keep the price over $100. As Oil moves below 90, how will these other countries survive?
Our markets dive a lot, but other countries who are totally dependent on Oil as their only source of income may just belly up.
As a side benefit to our $700 billion gamble, do we get other good things from it? Macro economics is very complex and we may have accidentally done the right thing, even if it was for the wrong reason.
DJIA 8500 could be where the stocks settle, while the rest of the world will suffer some very serious declines in stock value.
Not in all markets. Look at spiking LIBOR rates, and rates that US Domestic Governments have to pay in the short term fixed income markets. In those markets, credit is very, very scarce, and if you can get it, very expensive.
The Fed bill just passed was to bail you out, not the damn stock market, which BTW is reacting to global slowdowns which directly affect our export sector.
The credit markets and their derivatives are not traded on the stock market. What you seeing is a business forecast for the next six months, and it is not expected to be good.
There is no relationship to what is happening in the stock market, and the passage of the bailout, except to say definitively that the six month outlook would have have much worse without it.
You could assess it like a massive bomb that is cooking off, as opposed to exploding. In that respect, the Fed interventions are working and without it, our markets would look much more like some of the Asian markets that are down 70% as opposed to our 30%.
that’s what you get when you sell your soul to the devil
Some Maverick for Change.
Russia is particularly screwed...good!
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