700 Billion Bailout
POSTED BY: Wulfenstar
UPDATED: Sunday, September 8, 2024 21:33
VIEWED: 7614
PAGE 7 of 8
Quote:Hear hear!!!
Originally posted by Wulfenstar:
So what the fuck do we do about it?
At this point, Im ready to fight back.
But I feel so helpless...
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Well, if that aint the truth, I don't know what is.
So be it.
People, this is our home. This is our land and our culture.
If it takes all I can give to save it, I'm game.
Let the misbehaving begin.
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Upheaval Continues As Markets Parse Federal Rescue
BY ALAN R. ELLIOTT
Posted 9/22/2008
http://www.investors.com/editorial/IBDArticles.asp?artsec=1&artnum=5&i
ssue=20080922
Quote:
Stocks closed sharply lower Monday as investors strained to asses the impact of a massive financial-rescue plan.
Crude oil nailed its largest one-day price spike since it began trading on the Nymex in 1984. Bond prices toppled to multidecade lows. The dollar slumped for a fourth session vs. other key currencies. Gold spired 5% higher to settle above $900 an ounce for the first time in seven weeks.
The Nasdaq composite plunged 3.6% on heavy losses by Apple (AAPL), Cisco (CSCO) and Google (GOOG). The NYSE composite and Dow both hacked off 3.3%, and the S&P 500 surrendered 3.8%.
Midcaps took the day's worst pummeling, sending the S&P 400 down 4.6%.
The NYSE financial index toppled 6.8% as the sector led losses.
But preliminary figures showed that NYSE and Nasdaq trading was sharply below Friday's elevated levels.
Declining issues led advancers by more than 4-to-1 on the NYSE and by nearly 3-to-1 on the Nasdaq. Only 11 of the 197 industry groups tracked by IBD gained on the session.
Despite the day's slaughterhouse feeling, most leading stocks avoided significant damage.
One exception was IBD 100 firm Buckle (BKE), which fell 5.22 to 56.33 on a downgrade. JPMorgan Securities cut the teen apparel retailer to neutral from overweight. The move erased last week's gains, putting shares just below their Sept. 12 close and 16% below the high notched on Friday.
Some leaders did manage to stake out gains.
DXP Enterprises (DXPE) leapt 2.54 to 66.81. A Houston-based maintenance equipment supplier, it is one of the few stocks running against the market to nail new highs in strong volume. DXP's leading clients are in the Gulf Coast energy industry, which is working to rebuild after Hurricanes Gustav and Ike.
Open Text (OTEX) stepped up 1.40 to 36.70. The business software developer rose steeply Thursday and Friday. Shares are working to haul themselves out of a four-month correction.
3:15 p.m. Update: Losses Deepen As Crude Spikes Higher
By VINCENT MAO
Stocks gave up more ground late Monday, after crude oil spiked higher.
At 2:45 p.m. EDT, the Nasdaq shed 2.6%, S&P 500 2.3%, Dow 2% and NYSE composite 1.9%.
October crude oil ended at $120.92 a barrel, up $16.37, or 16%, on the general belief that the government's rescue plan would boost the economy and increase demand. The contract, which expired today, was up 24% at session highs.
Oil's surge hurt airline issues.
UAL Corp. (UAUA) tumbled 2.09, or 16%, to 11.15. AMR Corp. (AMR) dropped 1.83, or 14%, to 11.10. Continental Airlines (CAL) shed 1.76, or 7%, to 16.64.
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Folk should know that there was a lone voice in the wilderness of the U.S. Congress , telling the truth about how it all went so wrong :
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I'll tell you what...
If the Dems finally show they have a backbone and are actually serious about stopping this travesty from happening, I'll vote for the asshole on the left. If not, I'm writing in my brother for president because he said the most profound thing I've heard in the last few months about how to fix America's economy. He don't even know what a genius he is.
It is pretty scary times when the Demons are acting more fiscally responsible than the Rethugs.
"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack
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Quote:Which was?
Originally posted by 6ixStringJack:
If not, I'm writing in my brother for president because he said the most profound thing I've heard in the last few months about how to fix America's economy.
More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.
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I'm sure you wouldn't like it (or maybe you would if you would like to see America go away from it's worldwide imperialism.... (cough) I mean, liberation.... But since you're my boy Cit, you got sanctuary over here if things ever got really hairy over there. Just hitch a ride with my bro next D-Con and I'll even let you sleep on my couch.
Really though. It's too good to ruin the surprise in case any future "renegade" administration has goes through with it. I know my brother is a (humble) genius, but I'm sure there are greater minds who have thought similar things before. I don't see how it couldn't work.
Here's hoping for 3rd party bliss in 2012.... "A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack
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Quote:
I want you guys to think about this...If the government owns the free market, it owns you. Its not a joke, or even remotely funny. The U.S. government will now control much of Wall Street, and most of of the housing market.
National Socialism anyone? Thats EXACTLY what this is.
Two words come to mind:
MISSION ACCOMPLISHED!!
Mike
This world is a comedy for those who think, and a tragedy for those who feel.
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US dollar collapse
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Pants on fire! Biden claims he'll 'lower your costs and the deficit'
https://www.washingtonexaminer.com/opinion/pants-on-fire-biden-claims-
hell-lower-your-costs-and-the-deficit
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