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 ...
Agree it is likely worse than 9/11 (about 3% of GNP, or the same as the 1970s oil shock). Smoot-Hawley alone accounted for 5% of GNP, but there’s still time for government to get involved and screw this up worse than it already is.
Yes. I’m ready for the next $700B bailout. Oh wait, they already had spent about $700B prior to the bailout.
bookmark
Scams, socialist and commie plots, ............................sheesh!!!!!!
How about weather control? I'll bet that is next.....how 'bout it!
STOP IT! The stock market goes up and goes down. It has been way to high for some time, and there needs to be a correction.
Boy it looks like the handout really restored confidence in the market.
yeah it needs to be corrected in the light of...plenty of socialism coming our way!
McCain should have figured out that this socialism boondoggle was stupid and evil. Instead he jumped on board and tried to take credit.
“And I for one, welcome our new socialist overlords.”
There will be a lot more intervention. They are doing it again today. You had better hope they succeed because if they don’t, money won’t be worth the paper it is printed on.
Exactly!
The bill that just passed was to prop up the market for MBS so that they can be unwound more slowly. Won't help, Europe is imploding. But if you want to call that bailing "us" out, that's fine, it will help delay the inevitable crash. But don't say it is bailing "me" out, I prefer getting the insolvency crisis settled and over with, not lingering for decades. But maybe that's just me.
We were given a choice between socialism or a depression. Congress chose socialism, but it looks like we are getting socialism AND a depression.
I don’t need to hope they succeeded. I know they did the exact wrong thing to “fix” the economy. So I expect the economy will react accordingly. And it is.
Bankrate.com
30 yr fixed mtg
Last Week 5.98%
Today 5.93%
Interesting, why is the cost of borrowing money “decreasing”?
Simple, the banks are trying to sell loans to people and businesses with good credit.
The first hint of this came in June/July. We were offered a 3.99% per year loan with no time limits to pay it off. We used it to pay off my lease on my fairly new Ridgeline. Now, we own the Ridgeline with basically the same payment. I had intended to buy the Ridgeline when my lease was up. Now the next payments are reducing the debt on that excellent loan.
The samething is happening with our bank and mortgage company re lines of home credit. We will probably be needing a new roof and should be able to lock in a great a great home equity line fixed rate.
People with good/excellent credit ratings will get excellent new loan offers or can get them by shopping around while those with not so great credit will not get new loans.
It's a lot worse than that. They are imploding. Germany joined the protectionism on Sunday which is why their markets fell today. Basically anytime you hear "protect our depositors" from some European govt, substitute "screw the creditors in some other country which we hate anyway".
IMO, the DJ will retrace all of its’ move from the lows in 2002-2003, and posibly more. That was 72xx.
that is why gold is going up
Now is the time to hit Obama on Fannie/Freddie and Obama’s tax policies and how wrong, wrong, wrong he is for the economic future of America.
Hit him now on both ECONOMY AND SECURITY.
Time to buy.
Has the food rush started yet?.
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