Congress on "holiday". Markets come roaring back. Message is clear. Markets work best when government stays the fuck out!!
This is financial armageddon?
- Thread starter CaptainObvious
- Start date
You all forget to mention the 650 billion dollars the fed injected yesterday morning. It seems to me, the fed has everything under control. This bailout package is nothing more than a power grab of the treasury.
You need to try turning your BRAIN on for once.
The FED has been injecting a TON of money into the global market place. Their Balance Sheet is now well over $1 TRILLION DOLLARS for the first time ever.
They have taken control of an "absurdly" political situation because they know full well that the majority of Congress has a liberal arts education that has nothing to do with understanding the most basic components of the banking system.
I must say, your name is rather fitting.
A little basic math would help here.
The Dow fell more than three times as much on a % basis during 1987's Black Monday. It then fell about the same as yesterday only a week later (10/26/87).
I've read yesterday's drop didn't even make the Top 10 list in % terms. (Haven't checked the numbers myself.) $1 trillion? So what. It may be more than 1987 or 1929, but this little thing called inflation makes raw numbers comparisons meaningless. Want to compare your salary to someone's 20 or 50 years ago?
The Dow fell more than three times as much on a % basis during 1987's Black Monday. It then fell about the same as yesterday only a week later (10/26/87).
I've read yesterday's drop didn't even make the Top 10 list in % terms. (Haven't checked the numbers myself.) $1 trillion? So what. It may be more than 1987 or 1929, but this little thing called inflation makes raw numbers comparisons meaningless. Want to compare your salary to someone's 20 or 50 years ago?
Quote from Landis82:
You need to try turning your BRAIN on for once.
The FED has been injecting a TON of money into the global market place. Their Balance Sheet is now well over $1 TRILLION DOLLARS for the first time ever.
They have taken control of an "absurdly" political situation because they know full well that the majority of Congress has a liberal arts education that has nothing to do with understanding the most basic components of the banking system.
I must say, your name is rather fitting.
Yawn! The sky is falling. The world is ending! The Four Horseman are riding in! Boo! Did you shit your pants?
Fact is, I wasn't any poorer yesterday when the market closed, and I wasn't any wealthier today at the close. Now those Blue bloods might be taking a hit. Fuck'em! Let Rome burn!!
The common man is supposed to save these cocksuckers just because they're feeling the heat? We have been feeling the heat for decades. Not years, DECADES! The Blue Bloods have much more to lose than "Main Street" and they know it. We, "Main Street" goes down, we all go down together. Chew on that!
You want to keep feeding the wolves just so they don't eat you. I want the wolves DEAD! Man up and fight, or bend over like a prison bitch.
The problem is when your bank cancells your credit cards and you can't afford to buy on sandwhich on credit how will you eat?
The fact is that most americans are cash strappd and in credit card debt averaging $10,000 or more. There won't be any more car loans, bank loans, or any credit for that matter in a depressionary economic downturn. This will hit home to Joe citizen after Rome burns. We are headed for calamity whether you want to burry your head in the sand and pretend it doesnt exist is your own doing.