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I hope you all cashed up. The markets won't be pretty Tuesday. It looked to me that the sell off wasn't over at the close today. Maybe the FED will save the day AGAIN. We will see.
As VONA Staff says good luck
PUT YOUR SEAT BELT ON HERE IT COMES
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Posted By: know it All Posted on: Sep. 15, 2008 at 10:46 PM  4 Comments
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I hope you all cashed up. The markets won't be pretty Tuesday. It looked to me that the sell off wasn't over at the close today. Maybe the FED will save the day AGAIN. We will see.
HEH
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Anonymous Voice #35101
Sep. 16, 2008 at 01:21:04 AM
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[This is a reply to comment by AZ Moderate on Sep. 15, 2008 at 10:58:00 PM]
AZ Moderate
Sep. 15, 2008 at 10:58:00 PM Are we in a recession yet? The question has been asked repeatedly for at least the last six Maybe the question should be how deep the depression will be. Smells a whole lot like 1929, except that there are some impact springs at the bottom... View this Comment Yeah but the market fell hard around 9/11 because of a national tragedy that inevitably affected the world's economy. What's the excuse this time around? |
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Sep. 16, 2008 at 06:55:48 AM
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| What's the excuse this time around? Greed and actions by the Red TEAMers BUT expecially the Blue TEAM who sold off BANKING under Bill Cllinton and JOBS under NAFTA, oh and ENERGY with the Enron Loophole.... Like Frits Hollings said, TEAM members are whores to RAISE money for the two TEAMs from the Party Owners.. The Democrats and Republicans are BOTH selling and trading government to these Corportists, who have taken the money and NOW will take MORE money.. |
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Sep. 16, 2008 at 08:57:24 PM
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[This is a reply to comment by Anonymous Voice #35101 on Sep. 16, 2008 at 01:21:04 AM]
Anonymous Voice #35101
Sep. 16, 2008 at 01:21:04 AM Yeah but the market fell hard around 9/11 because of a national tragedy that inevitably affected the world's economy. What's the excuse this time... View this Comment Rampant spending during a time of war, while cutting taxes in a regressive way at the same time. Borrowing to the tune of $30,000 per American, while the average American has zero savings. Expecting that our credit would always be good even though we don't make anything anymore but continue to consume the lion's share of the world's resources and charging it to the card. A collapse has always been inevitable -- there was only the question if the demolition that Bush began in earnest in 2001 would bring the house down while he was still in office, or if his successor would preside over the crash. NAFTA and CAFTA might have accelerated the hemorrhage of dollars and industrial might away from this country, but at the end of the day, Clinton was still paying down a $5 trillion debt at the rate of $500 billion a year. Bush has nearly doubled that debt, and will increase it by $600 billion this year, and that's not including the off-the-books expenses like, um, the Iraq occupation. You have to believe in the health of the dollar for it to hold value. That means you and the rest of the world have to believe in the underlying ability of the issuing government to pay back its dollar commitments, and that faith is shaken when your are spending more than ever, not less, and charging it all to your children and grandchildren. And without investing in infrastructure and education so our children and grandchildren have the same opportunities to be productive that we had, there is little hope that they will pay off that debt too. No wonder that a housing bubble and credit crunch can bring down the world's largest economy, built entirely on unsustainable debt. Osama bin Laden is laughing hysterically. |
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Are we in a recession yet? The question has been asked repeatedly for at least the last six months.
Maybe the question should be how deep the depression will be. Smells a whole lot like 1929, except that there are some impact springs at the bottom of the economic elevator that were not there almost a century ago.
AAAAH – not to worry. A 500+ drop in the Dow is chump change compared to 1929. This is only the largest drop since 9/11. Relax.
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