Dow 7K

[drjeff]

Well that 1K didn't take long to bleed off.

I'm thinking that some of the safeties are going to be used at some point today. Doubt the speech at 10AM will say anything of relevance either.

 

[drjeff]

Okasy, now irrelevant for atleast the next few minutes

Market's been open for less than an hour and we've already seen around 1000 points of cumulative movement. Going to be a wild one(again)

 

[andyzee]

Can you spell stress? I'm gonna double up on my bp medication

 

[Moe Ghoul]

Okasy, now irrelevant for atleast the next few minutes

Market's been open for less than an hour and we've already seen around 1000 points of cumulative movement. Going to be a wild one(again)

Direct fed intervention in financials futures is trying to prop it up. PS A little window dressing before POTUS speaks.

 

[andyzee]

I think the government is doing a lot to resolve the issue but should be going at the source of the problems as well, which they haven't been doing.

1. This all started with bad mortgages, people were having trouble paying off there houses. Question, how do you pay a mortgage when your community imposes ridiculously high property taxes on you. I'm lucky I don't own, but I know people that are paying $15-20,000 in property taxes, that's crazy! Feds should impose caps on property taxes.

2. Big credit crunch, Feds lowered the prime to 1.5%, yet banks are getting away with charging loan shark interest rates. As I posted recently, GM/HSBC upped the interest rate on my credit care to 31.99% cause I was a day late with my payment. I have an excellent credit rating and this was a one time slip up.

How is our economy to improve if practices like this are allowed?

 

[Moe Ghoul]

I think the government is doing a lot to resolve the issue but should be going at the source of the problems as well, which they haven't been doing.

1. This all started with bad mortgages, people were having trouble paying off there houses. Question, how do you pay a mortgage when your community imposes ridiculously high property taxes on you. I'm lucky I don't own, but I know people that are paying $15-20,000 in property taxes, that's crazy! Feds should impose caps on property taxes.

2. Big credit crunch, Feds lowered the prime to 1.5%, yet banks are getting away with charging loan shark interest rates. As I posted recently, GM/HSBC upped the interest rate on my credit care to 31.99% cause I was a day late with my payment. I have an excellent credit rating and this was a one time slip up.

How is our economy to improve if practices like this are allowed?

Watch what happens as revenues shrink, CA is the most recent example. I wouldn't be the least surprised if all this leads to a global agreement for major devaluation of the USD.

 

[ComeBackMudPuddles]

Watch what happens as revenues shrink, CA is the most recent example. I wouldn't be the least surprised if all this leads to a global agreement for major devaluation of the USD.

How would that work, considering the signficant exposure foreign countries have to the dollar? And, if that did come to pass, how would we be able to continue to borrow internationally to continue to finance our debt-fueled ways?

 

[ctenidae]

how would we be able to continue to borrow internationally to continue to finance our debt-fueled ways?

That's teh question I've been asking for 2 years now.

Somehow I don't think the answwer I've been getting of "We just will" won't cut it anymore.

 

[Moe Ghoul]

How would that work, considering the signficant exposure foreign countries have to the dollar? And, if that did come to pass, how would we be able to continue to borrow internationally to continue to finance our debt-fueled ways?

If it's a choice between default or inflating our way out of it, they'll inflate. If our lenders all head for the exits at once, it'd be a complete breakdown. Foreigners are already lending less and diversifying outta USD. Part of the reason the Treasury and the fed is bleeding money out of every orifice right now. Just a hunch, I'm prolly wrong.

 

[Puck it]

:uzi::uzi::uzi::uzi::uzi:STOP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:flame::flame::flame::flame::flame:


This is for skiing. We do not need to be depressed more.

 

[ctenidae]

Speaking of foreign investment:

http://www.snocountry.com/snowclien...satype=Intl&weather=SouthAmerica&from=bodynav

We should make an investment, then go check on it.

 

[andyzee]

:uzi::uzi::uzi::uzi::uzi:STOP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:flame::flame::flame::flame:


This is for skiing. We do not need to be depressed more.

On one hand, I agree with you.

On the other hand:

 

[Warp Daddy]

They ( NEOCONs)WILL INFLATE their way out of it ,then watch them go after all social programs to the point that only the HAVES are left - TEA Party

 

[Moe Ghoul]

They ( NEOCONs)WILL INFLATE their way out of it ,then watch them go after all social programs to the point that only the HAVES are left - TEA Party

Ya Think?

China: " You owe me $1000
US: I only got $500
US::idea: I'll devalue it by 50%, now my 500 is 1000. Keep the change, China:dunce:

 

[Moe Ghoul]

On one hand, I agree with you.

On the other hand:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM

 

[GrilledSteezeSandwich]

I think the government is doing a lot to resolve the issue but should be going at the source of the problems as well, which they haven't been doing.

1. This all started with bad mortgages, people were having trouble paying off there houses. Question, how do you pay a mortgage when your community imposes ridiculously high property taxes on you. I'm lucky I don't own, but I know people that are paying $15-20,000 in property taxes, that's crazy! Feds should impose caps on property taxes.

2. Big credit crunch, Feds lowered the prime to 1.5%, yet banks are getting away with charging loan shark interest rates. As I posted recently, GM/HSBC upped the interest rate on my credit care to 31.99% cause I was a day late with my payment. I have an excellent credit rating and this was a one time slip up.

How is our economy to improve if practices like this are allowed?

The people that pay 15-20k in property taxes like my Aunt and Uncle in Scarsdale NY are rich and can afford it and if they can't they can sell their homes for a million and get a condo/apartment..