Wow, Wall Street is taking a huge dive again today. Will panic set in as the major investors start to sell off this afternoon?
It's gotten so bad, even President Clinton has commented that President Obama needs to stop talking down the economy. Part of me wonders if it isn't intentional.
I wonder if any of this is tied to the current non stop bailout schemes designed to help those who don't really need it.
I wonder what will happen after this mortgage scam is passed. Nothing like paying other peoples' bills when you can barely pay your own. Obama needs to step up and start leading. Talking down the economy has people in a panic; great leaders don't use panic as a motivating tool.
Anyone that has an ARM or any kind of floating rate debt, please do yourself a favor and get it into a fixed rate product.
We were on an ARM in 2000 on our first home. When we upgraded in 2005, we locked in on a 30-year fixed at 5.25%. It's the best decision I have made in my adult life.
Isn't Obama going to save all those people by adjusting their mortgages for them into traditional loans?
Obama isn't going to to jack squat. He won't have "skin in the game". WE will be paying for these losers. The one thing Obama seems to excel at is spending other people's money. The guy has already doubled the WW2 high of the deficit/GDP ratio. We are going to enter a depression. I just don't see how it can be avoided because China and other backers of our capital are going to start pulling out once inflation sets in and the dollar becomes worthless.
Market quickly down another 80 points in 30 minutes. -177 and falling. Perhaps this is the afternoon panic sell I was talking about in the initial post.
It's losing every day Obama proposes more silly spending programs. I just wonder if we'll see a true panic sell. Now that the 7500 barrier has been broken, faith in the market could be going fast.
Bingo! We have a winner. Wall Street knows that Obama's "stimulus" bill is a load of crap, and they're reacting accordingly.
Take your money out of the market and put it into land. That's what I did last summer, and I'm not sorry.
Why isn't the President trying to calm the fears of investors? He's been silent all week as it is crashing.
because the more it crashes, the more unlimited power he will position himself for. more spending measures, more people giving up to "save" this economy...thanks to the government.
So, without knowing what the government policies would be, and back in October, it was pretty clear that the stock market would have some relief rallies and would eventually retest the lows, if not smash through them. Since that was the case, I think that argues for government policy being less important in the short and mid-term than many would think. This thing has to play out. Not much anybody could have done about it. Is this retesting of previous lows concerning? Not really. Not yet. Has to fall a lot further to signal complete disaster.<!-- / message -->
