500 trades away from meltdown
Now foreign banks get bailout from U.S.
500 trades away from meltdown
Now foreign banks get bailout from U.S.
I love it when the market turns to CRAP! When the market turns to crap it seems that people sstart yanking their money out and spending it on vacation homes ;). The market he is great for investing, so hopefully that will kepp this market booming here in SW Florida…Only time will tell
On “Fox News Sunday,” Paulson told Chris Wallace](http://search.politico.com/results.cfm?subject=Chris+Wallace) that he would resist the Democrats’ desired limits on executive compensation.
This bailout is designed by the ex-CEO of Goldman-Sachs to bail out his elitist friends and put the tab on the American citizens, I expect they will all get big bonuses this year on Uncle Sam.
I call your two links and raise with one Ron Paul.
I read that Post article early this A.M. Thanks for posting it John.
*“Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.”
Oh the drama of it all.:roll:
If the market is overvalued, why would it be a bad thing for it to correct to 8,300 on the DOW?
It’s happened before and we somehow managed.
What responsibility does the American taxpayer via is leaders have to prop up the DOW?
This is pure market manipulation by our government*.
IMHO it will only delay what needs to happen.*
Now instead of the market punishing bad business and investment decisions and getting it over with quickly, we could well have a much slower, prolonged and painful unwinding of our economy as it is forced to absorb this massive increase in the National debt.
There is no free lunch.
The bailout will never work if foreign banks aren’t bailed out too as they have purchased much of the toxic paper that known as CDO’s that Wall Street bundled together and sold off as AAA Rated investments.
The funniest thing is we are just not excusing the criminals who perpetrated this crime but we are rewarding them for their efforts under the guise of help (kinda the same help Decker dishes out here on the message board).
Question: Do you really think anything will change under these circumstances?
Now I know this country is nuts.
We want to bail them out while they mock us.
Well it is pretty obvious, for the last 8-years we have had an elitist Republican administration deregulating all of the banking rules & regulations which were put into place after the Great Depression to protect the people’s investments, what did you expect?
The solution of course now is for the people to bailout the rich elitist bankers, Wall Street tycoons and foreign banks with tax dollars, the only good thing that I can see coming out of it is there will be little left to continue to fund Bush’s wars.
Stop & think for a moment how bad it would be if the Congress had allowed Bush to piss away our Social Security retirement fund in the stock market like he wanted to do at the beginning of his 2nd term?
Bush will just open an American Express credit account for that! :mrgreen::mrgreen:
I think in the end Bush will be too busy declaring war on the people of America who refuse to buy into his bailout plan to be too concerned with the rest of the world.
Regardless of what happens it is guaranteed that whatever bailout plan is enacted in the end the dollars purchasing power will be greatly diminished.
The question becomes what to do now?
1). Buy Treasuries - On the surface it appears to be the best/safest move. No doubt you are guaranteed to get your principal back, exactly what that principal will purchase in the future is the problem. If we enter a period of hyper-inflation the money returned will purchase a much smaller basket of goods & services.
2). Buy Gold - Gold is now and will continue to be a store of value but has proven to be a poor investment. Throughout history except for minor variations an ounce of hold has been able to purchase a relatively equal fixed basket of goods & services and that should not change. The problem of course is converting & storing physical gold which could be subject to government seizure & theft.
3). Buy Commodities - Commodities (which include real estate, farms & small industrial factories) might be the best solution. When it is all over and the rebuilding begins those who control the things necessary to start the system should be in good shape to come back quick & profit. The problem here as we have seen around the world when a currency goes into a crisis there is a push to exchange the dropping currency for anything that can be purchased. Getting rid of a currency going bad only works before everyone catches on.
An old Chinese curse/blessing is to “live in interesting times” it appears they have arrived, good luck to all from here on out opportunities and pitfalls will abound.
Joe,my BS meter went off.:roll:
By bailout do you mean those guys that gave so much money to Chris Dodd(D), Obama(D), and Kerry(D)? :roll:
Where are the names being dragged around like Ken Lay was in his small potatoes con game.
Much more than an 8 year problem SFB.
You should think about it.
Bush’s Social Security privatization plan was the last best hope there was for saving the system and now that is gone. Had it been put in place those eligible for it would have had more than enough time to recover and the money would have been their’s to keep and hand down to their families.
Now they will get little or nothing or be waiting a lot longer for it than they had planned.
Mikey, Mikey, Mikey back away from the Republican punch bowl and stop drinking the kool-aid before you drown. I was wary of your judgment before but you have now confirmed for everyone that you will do & say anything to prop up your buddy Bush and his asinine economic plans.
Mark my word, that in the end the Bush bailout will be exactly like his plan for Social Security… Having taxpayers pay premium prices for lousy assets sold to us by his country-club cronies. Why don’t you wise the F@ck up?
Notice that Joey has presented nothing I repeat nothing.
Why? Because he has no answers.
All mouth, no action, no plan, no clue.
What’s in the water down there anyway?
You BS deserves no response, but is is so asinine that I must waste further bandwidth just to prove how stupid & misguided you are.
It is a typical Christian-Wingnut ploy to create a straw-man argument seeking answers to the unanswerable and then claim superiority.
This financial crisis we are all suffering from was created by Mikey’s political party who has been running things for the last eight years, but now he expects that anyone who recognizes this fact must also have a plan to fix the mess he & his party caused or their complaint is somehow invalidated.
Mikey, I had nothing to due with this financial fu@k up that occurred under your presidents leadership regardless of how you attempt to make it my problem.
Do us all a favor and just piss off!
What time is it when your friends turn on you? :mrgreen:
Thank you Joey for you well thought out response.:sarcasm:
No plan, no action, no clue.
This is from a site that opposed the Bush plan on Social Security.
*As for the current state of Social Security, the Trust Fund has a surplus of over $1.5 trillion, accumulated from the wages of the baby boom generation (1946-1965), which will begin retiring in large numbers in 2008. The Trust Fund is ample to pay out the retirement benefits for the baby boomers—who would be from 87 to 106 years old by the time of the projected “crisis.” The shortfall, if any, would affect the next generation, those under 40 today.
*Now if that site or Joey had a clue, they/he would already know that the “$1.5 Trillion” surplusdoesn’t exist except as an I.O.U. to and payable by the American taxpayer. It’s been spent, it’s gone, it only exists on paper with no real assets. Period.
Our politicians have known for decades that this is the truth and have refused to fix it. They continue to play the game hoping the voters won’t notice. Sadly , most like Joey don’t.:shock:
If the politicians wouldn’t approve Bush’s partial solution on SS what are the chances they will ever fix it for real? :mad: