LOL I'm sorry but that statement is quite funny because its so ing stupid.
Looks like the markets are going to be more stable today...Australia surprised everyone and dropped rates to 1% which had a calming effect on the asian markets...Japan only dropped about 3% and Hong Kong 5%. Europe is up a little and the US markets opened on an upswing.
That being said, this is a world market that is just holding it's breath for the next set of bad news that could drop the bottom right out of the market again...
What the just happened with the Federal Reserve? Did they just duplicate the bailout?
Yep...
Markets opened slightly up and the smart money started selling into the rally...then the market dropped like a rock and the Fed stepped in and confirmed they were going to start buying massive amounts ( I have not heard an upper limit) of commercial paper...the market bumped up a hundred points on that news and immediately started trending down again. It hasn't gone off the cliff yet but is still down from the close yesterday and trending lower...
This does not look good. I really thought the markets were going to stabilize and go sideways on that news. Paulson and Bernake are running out of options. The only thing they have left is a major emergency interest rate cut (already at only 2%) like to 1% or less. If the markets start dropping dramatically I expect to see that too...then they will be done and out of "quick fix" options.
So why bother with the bailout if this was going to happen? I read recently that quite a few banks are going to skip over the bailout because part of the bill details pay cuts for upper level execs. So much for that plan.
Good thing the government stepped in with that bailout paying off businesses with our tax money.
Just has worked wonders.
The markets won't see that money for at least 45 days as they are setting up the funding/regulation framework. Meanwhile they are doing everything they can to keep the economy and the markets from going completely off the cliff.
uh oh
Market just fell through 9800 and dropping like a rock.
The Treasury/Fed is just about out of options to turn this thing...
i wonder when they'll start confiscating gold
They can start with BRHornets teeth
you mean "teef"
teefasus.
Damn
Deja Vu all over again.
Look at the chart. Just like yesterday, market free falling past 9700 and volume suddenly appears and increases trying to keep it from popping 9600.
This isn't bottom feeding, this is somebody spending a lot of money ing with the market to keep it from dropping past 9600.
I've got to quit hitting refresh on the market page ... it's getting seriously depressing.
Just broke 9600 - at 9590.79.
Ben Bernanke should keep his freakin' mouth shut.
Then look at the volume e and the immediate bounce back up. Someone is throwing huge amounts of money at supporting a 9600 bottom.
The only thing we have to fear is fear itself.
turned out he needed to fear Lee Harvey Oswald too...
I think you're mixing up your presidential quotes CC. FDR said the line about fear when addressing the nation as it struggled through the Great Depression.
lol
Actually he'd already been crippled, but not killed, by polio by that point. Given that it was a large fatal disease at the time I'd say he didn't have much to fear from that. What he should have included on his list:
-strokes
-Nazis
-Japan's Ninja Navy
-starvation
-falling stockbrokers landing on your head
-the prospect that John Steinbeck would write an entirely too long account of the struggle of the American migrant workers from the Dust Bowl which would then become required reading for us all
But more importantly, the stock market is toast. WTF?
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