This is your economy on drugs.

This is your economy on over-regulation.

Jesus, GM below $5.00.

This is your economy going down the drain

re: #2 zombie

This is your economy on over-regulation.

Any questions?

This is your economy on ACORN.

jesus...

This sucks.
About 70% of my net worth has evaporated in the last two weeks.

This is your economy on government corruption.

Beginning of the end?

re: #3 Irene NYC

Jesus, GM below $5.00.

I think Jesus will recover. Not so sure about GM.

I think I feel a little sick right now. How do you convince other people that the economy is good?

Checked my 401K info and everything allocated in stocks is wiped out... My stable value stuff is mercifully all still there...

re: #8 looking closely

This sucks.
About 70% of my net worth has evaporated in the last two weeks.

Welcome to the club. My net worth is tied up in a couple of houses in San Diego.

The Dow is at -629 as we write

Those were the good old days.

-671.11.

Free fall.

GM will get bailed out. It has to be.

start the printing presses

This is your economy on a $700B bailout

Down and out
It cant be helped but theres a lot of it about.
With, without.
And wholl deny its what the fightings all about?

time to buy

re: #18 neocon hippie

This is your economy on a $700B bailout

Ding, ding, ding... HUGE mistake... Didn't folks say the market would continue to crash without it?

Are they jumping out of windows down on Wall Street yet?

All the doom-and-gloom types should just SFTU.

the number of bank failures to come will be staggering

This is your economy when a radical Marxist is leading the POTUS election polls.

DJIA
8,579.19

Apparently we're searching for the bottom in after-market trading.

Great.

Damn, Dad is probably wiped out.

re: #13 tfc3rid

Checked my 401K info and everything allocated in stocks is wiped out... My stable value stuff is mercifully all still there...

I am so glad that a) I have half a lifetime to retirement, and b) that I split my retirement investments between conservative and aggressive. And some are even tied to the strength of the dollar, and will now recover a wee bit.

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

Sorry, STFU. PIMF.

FNC Alert - WH considering partial nationalization of banks.

(I thought that was part of the bailout - going along with the 80% nationalization of AIG)

re: #16 Irene NYC

GM will get bailed out. It has to be.

All auto-makers are going to take it in the shorts from this crisis. Don't see any of the big ones folding, but what they do to stay afloat ain't gonna be pretty.

You mean the $700,000,000,000 bailout didn't help? I'm shocked. SHOCKED.

///

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

No. This sucks and hurts ... and the last thing I'll have is someone telling me to ignore it.

re: #28 arethusa

I am so glad that a) I have half a lifetime to retirement, and b) that I split my retirement investments between conservative and aggressive. And some are even tied to the strength of the dollar, and will now recover a wee bit.

Yes, my investments are now mega conservative... I am not a risk taker in any way...

re: #14 CyanSnowHawk

Welcome to the club. My net worth is tied up in a couple of houses in San Diego.

Hmm, sounds like you played by the rules as well. No assistance for you.

re: #11 CyanSnowHawk

I think Jesus will recover. Not so sure about GM.

Patience. They survived a whole hell of a lot, not the least of which is the MSM.

I moved the rest of my money into my retirement plan's most stable fund on sept 29th. Lucky me. Right now I'm listening to "Free Fallin'" by Tom Petty on my iPod.

Hold on to your butts folks, and get ready to buy Apple stock when the market bottoms out!

re: #22 marge45b

Don't worry, I am sure there are plenty of golden parachutes on Wall Street. We are the ones that will jump out of the windows this time around

Anyone wants to buy some AIG stock call me.

1-888-TAX-TRIP

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

I wish we had listened to the gloomers a couple of years ago. Or more.

re: #30 Athos

FNC Alert - WH considering partial nationalization of banks.

(I thought that was part of the bailout - going along with the 80% nationalization of AIG)

Avenue to Socialism... Global socialism...

Well, gotta get ready to go out to dinner with hubby's Aunt and Uncle. Moonbats, but sweeties. I have been on here since 7am this morning, see what happens when I get a day off? Charles, this blog is too addictive. You need an LGF 12 step program! Chins up, lizards, we will get through this.

Even the pharmaceuticals got thrashed today. Drugs still sell in recessions. Just the same, folks bailing right and left. You have companies with patent protected income streams that are trading at 4 X earnings. That is just silly.

This is your economy on Christopher Dodd and Barney Frank.

re: #36 Honorary Yooper

Patience. They survived a whole hell of a lot, not the least of which is the MSM.

Oh, for heaven's sake.

re: #16 Irene NYC

GM will get bailed out. It has to be.

Already done. What do you think that $25 billion loan was for? It was done specifically for more fuel efficient vehicles (and yes, that was a stipulation).

re: #13 tfc3rid

Checked my 401K info and everything allocated in stocks is wiped out... My stable value stuff is mercifully all still there...

I don't have the stomach to check, I'll wait for the quarterly mailing. Fortunately I had about 35% guaranteed and an outstanding loan of about $30k.

Don't tell me you can't use a good saxophone solo right about now.

By the way, are we REALLY going to elect a socialist as president in the middle of this? Has the zeitgeist really become that demented?

re: #40 Cognito

I wish we had listened to the gloomers a couple of years ago. Or more.

Or McCain back in 2005.

re: #35 Athos

Hmm, sounds like you played by the rules as well. No assistance for you.

All payments on time and full amount. I think I have to quit paying Countrywide for a couple months to get better terms for my mortgage though.

re: #50 Ward Cleaver

Or McCain back in 2005.

Yeah, no kidding... But didn't Barry-O say he wrote a letter?

Barack Obama tells everyone this is the greatest depression.

and we shall never win another war.

at least i am voting McCain before i drown myself

My energy fund is actually up today.

-678.91

Holy Crap, that was painful. My stomach hurts.

Guess I'll just pour some vodka into my Mallox...

-678.91 UGH

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

Ward you must be pissed, it's STFU

As insane as this sounds, I still suspect that this is a Democrat controlled manufactured crisis that they want to get worse.

Barack Obama and the Strategy of Manufactured Crisis

How bad does it have to get before major news organizations stop supporting a socialist economic know-nothing?

re: #36 Honorary Yooper

Patience. They survived a whole hell of a lot, not the least of which is the MSM.

I should have sarc tagged that. I do believe that all auto-makers are in for bleak times though.

re: #16 Irene NYC

GM will get bailed out. It has to be.

The company will survive, but the shareholders may be wiped out.

re: #58 shibumi

As insane as this sounds, I still suspect that this is a Democrat controlled manufactured crisis that they want to get worse.

Barack Obama and the Strategy of Manufactured Crisis

yup

So how is the bold leadership and heroics of Obama/Pelosi/Reid looking now?

McCain was right to try to change the deal.

The one the Democrats gave us doesn't work.

We gave them 2 weeks - failure.

They want 4 years?

How are the airlines doing? Talk about an industry on the brink...

re: #45 Cognito

Oh, for heaven's sake.

"Oh for heaven's sake." my ass. The mainstream media condemns anything American, Cog, and you damn well know it. If you don't believe me, check out the reviews on the Pontiac Vibe and the Toyota Matrix. Compare the two, as they are the same freaking car!

THe only thing surprising to me is that anyone is surprised... any system that relies upon no-doc loans to no-doc ' citizens' and sees jobless credit risks moving into three hundred thousand dollar homes with nothing down is bound to crash.
It's a miracle that the thing floated as long as it did.

re: #25 neocon hippie

This is your economy when a radical Marxist is leading the POTUS election polls.

Lots of truth to that. No one knows what will happen to biz taxes and trad policy when the far left is in control.

For all of you saying the economy is going down the drain, take a deep breath and put a Dramamine patch on behind your ear.

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

This is a crisis of confidence. The banks don't know if the mortgage backed securities they hold are worth anything. But, look at the foreclosure rates and compare with the number of mortgages actually out there. People are nervous and scared and react accordingly. But we as a nation are still sound.

Buck up, gang. Where's the LGF sang-froid? Lizards are supposed to be cold-blooded.

re: #67 DeafDog

Lots of truth to that. No one knows what will happen to biz taxes and trad policy when the far left is in control.

I think we have a pretty good idea...

re: #51 CyanSnowHawk

All payments on time and full amount. I think I have to quit paying Countrywide for a couple months to get better terms for my mortgage though.

Heh. I was thinking the exact same thing this morning as I was driving in. Think I'll still call them anyway and if I could go down 1/4 to 1/2 a percent on the rate.

Let's see what do we want the government to fix next?

re: #40 Cognito

I wish we had listened to the gloomers a couple of years ago. Or more.

Or learned something from Andrew Jackson back in 1833.

re: #53 ibmkeyboard

Barack Obama tells everyone this is the greatest depression.

and we shall never win another war.

at least i am voting McCain before i drown myself

If Obama gets into office the percentage of his Pro-American constituency is going to increase by about 10 fold. The libs and dems might get him into office but he'll have to deal with us once he's in.

re: #65 Honorary Yooper

"Oh for heaven's sake." my ass. The mainstream media condemns anything American, Cog, and you damn well know it. If you don't believe me, check out the reviews on the Pontiac Vibe and the Toyota Matrix. Compare the two, as they are the same freaking car!

American automakers make their own decisions. They ply their own strategies. They manufacture their own products. And they've done each of those three things in spectacularly crappy fashion for years.

re: #60 CyanSnowHawk

I should have sarc tagged that. I do believe that all auto-makers are in for bleak times though.

Agreed. I see some of the newer Chinese and Eastern Euro ones getting bought up or wiped out though.

You know through all of this no one has mentioned FHA. I used to work in the Mortgage Loss Mitigation Dept. of one of the big 3 US banks (left just over a year ago). Defaulted prime FHA loans outnumbered prime FNMA/FHLMC and subprime loans 2:1.

I went to the gas station today and filled up my car. There was gasoline. I went to work. I had a job. I went to the store. There was plenty of food. I came home. I have a home.

Life is okay. My IRA sucks but I am okay.

re: #74 Cognito

Did you compare the reviews? Compare them, and then get back to me.

re: #68 calcajun

For all of you saying the economy is going down the drain, take a deep breath and put a Dramamine patch on behind your ear.

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

This is a crisis of confidence. The banks don't know if the mortgage backed securities they hold are worth anything. But, look at the foreclosure rates and compare with the number of mortgages actually out there. People are nervous and scared and react accordingly. But we as a nation are still sound.

Buck up, gang. Where's the LGF sang-froid? Lizards are supposed to be cold-blooded.

And the banks will not loan money to businesses because they are afraid of bankruptcy... The government now wanted to step in and loan the money to the banks to get 'credit flowing again'... Clearly that did not work. Now the government wants to loan directly to the busnesses...

re: #23 Ward Cleaver

get ready to buy Apple stock when the market bottoms out!

people will get along fine with the computer they have for a while -- sales will be way off -- I think you are underestimating the seriousness of the systemic failure that is underway

re: #66 tradewind

THe only thing surprising to me is that anyone is surprised... any system that relies upon no-doc loans to no-doc ' citizens' and sees jobless credit risks moving into three hundred thousand dollar homes with nothing down is bound to crash.
It's a miracle that the thing floated as long as it did.

What I find funny is I was called a racist by some people IRL when I bitched about BofA giving bank accounts and mortgages to "undocumented" people. But being right this time, sucks.

re: #68 calcajun

For all of you saying the economy is going down the drain, take a deep breath and put a Dramamine patch on behind your ear.

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

This is a crisis of confidence. The banks don't know if the mortgage backed securities they hold are worth anything. But, look at the foreclosure rates and compare with the number of mortgages actually out there. People are nervous and scared and react accordingly. But we as a nation are still sound.

Buck up, gang. Where's the LGF sang-froid? Lizards are supposed to be cold-blooded.

Well put. Thank you for posting that.
It may turn into a crisis of spirit. I hope not, though.

re: #74 Cognito

Ya know what I've learned over the past week? Stocks will sink, and stocks will rise, but someone will always argue with/attack Cognito. If only that were an investment opportunity.

C'mon, the thread is young, keep it nice.

re: #72 arethusa

Or learned something from Andrew Jackson back in 1833.

Shoot, his opposition to the bank helped lead into the Panic of 1837.

re: #64 tfc3rid

How are the airlines doing? Talk about an industry on the brink...

If past performance is any indicator, I guess the following.
Southwest profitable.
Everybody else bleeding cash.

When Southwest fails to break even, then I'll believe that the airlines are finished.

re: #77 mama winger

I went to the gas station today and filled up my car. There was gasoline. I went to work. I had a job. I went to the store. There was plenty of food. I came home. I have a home.

Life is okay. My IRA sucks but I am okay.

Mama, that is a tremendous outlook on things... And I think that is a good way to look at it...

re: #78 Honorary Yooper

Did you compare the reviews? Compare them, and then get back to me.

Come on.

We're talking about crisis and failure on a near-cosmic scale. Don't show up with a bad review of the Pontiac Vibe.

The price of gas is down and the dollar up.

/...I'm trying to look on the sunny side.

re: #74 Cognito

American automakers make their own decisions. They ply their own strategies. They manufacture their own products. And they've done each of those three things in spectacularly crappy fashion for years.

Where the auto makers are going to get hit is in their credit lines. Remember that all three loan money to people to buy their cars. If they can't get money to loan, the can't move their inventory. Also, if auto dealers can't sell cars, they can't buy them. I read somewhere that Ford made more money off its credit corporation than it did selling cars.

Drinks on me!

/I hope I can pay in fancy seashells...

re: #79 tfc3rid

And the banks will not loan money to businesses because they are afraid of bankruptcy... The government now wanted to step in and loan the money to the banks to get 'credit flowing again'... Clearly that did not work. Now the government wants to loan directly to the busnesses...

That won't last. If it does, then we won't have a banking system anymore.

re: #49 erevu

By the way, are we REALLY going to elect a socialist as president in
the middle of this? Has the zeitgeist really become that demented?

Yes. Socialism is a lot of easy answers, promising everything to everyone, Mother will always watch over you. Now, when people are scared & angry, is the perfect time for a socialist demagogue like Obama.

re: #87 Cognito

Come on.

We're talking about crisis and failure on a near-cosmic scale. Don't show up with a bad review of the Pontiac Vibe.

It's an example in point, Cog. You cannot defend the MSM here.

re: #84 Honorary Yooper

Shoot, his opposition to the bank helped lead into the Panic of 1837.

Like the bailout bill was supposed to avoid panic/recession/all hell breaking loose. Which is happening anyway.

re: #70 Honorary Yooper

Heh. I was thinking the exact same thing this morning as I was driving in. Think I'll still call them anyway and if I could go down 1/4 to 1/2 a percent on the rate.

1/4 to 1/2? I want to push for 1 to 2 percent.

I think when I head out on vacation I'm going to stay down on a Caribbean Island...

re: #92 BeerDrinking_VictoryMonkey

Yes. Socialism is a lot of easy answers, promising everything to everyone, Mother will always watch over you. Now, when people are scared & angry, is the perfect time for a socialist demagogue like Obama.

Which makes you wonder...

The price of gas is down and the dollar up.

/...I'm trying to look on the sunny side.

Here's the real sunny side:
US government may take part ownership in banks

So where's the financing going to come for the so-called "green economy" that's going to be the cornerstone of the coming golden, er, green age?

re: #52 tfc3rid

Yeah, no kidding... But didn't Barry-O say he wrote a letter?

BHO's hands are much dirtier than that.

BHO sued to promote sub-prime lending

re: #93 Honorary Yooper

It's an example in point, Cog. You cannot defend the MSM here.

I don't. My point is that the media could do its very worst and it wouldn't add up to this. Ever.

You're kidding yourself if you think this is the media's fault.

Don't worry! Obamy Whammy will take care of everything, because he was a community activist, and a Harvard law professor. Yeah, buddy! Look how well-spoken he is. With genius mentors like Jeremiah Wright and William Ayers, we'll just be rolling in money. Yep, prosperity is just as close as election day, yup yup!

re: #88 Ringo the Gringo

The price of gas is down and the dollar up.

/...I'm trying to look on the sunny side.

Speaking of sunny side- there's talk that solar activity is accelerating global warming so we hit the tipping point next year. So, it really will be "So long, and thanks for all the fish.."

Just kidding... :p

re: #62 mama winger

yup

Thank you Mama Winger. I feel somewhat better now.

Well, most "experts" have been calling for the bottom at DOW 8500-8000. Hey, we're there. Looked like capitulation to me today. There just can't be that may more sellers left. Most of these stocks are ridiculously oversold now.

/gee, you'd think the markets didn't like the prospects of an Obama win or something

re: #88 Ringo the Gringo

The price of gas is down and the dollar up.

/...I'm trying to look on the sunny side.

For everyday things for me, and for the people around me, it's a good thing. Lower gas prices make it easier for me to get to work and to pay cash instead of credit.

re: #68 calcajun

If it does, then we won't have a banking system anymore.

we don't - there is no credit available

Is it true that at this point in the '00 election cycle, Gore was up by eleven?

re: #95 CyanSnowHawk

1/4 to 1/2? I want to push for 1 to 2 percent.

Hey, I was just trying be conservative (mine's at 6-1/2% now; 6% looks kinda good).

re: #107 sadhu

Actually, you do. It's called you cookie jar or mattress.

the great pyramid scheme run by demorats

I think I am going to start drinking heavily. . .

At least I don't "need" all the money I lost. . .yet. . . .

Drudge said over 5 million home mortgages in bankruptcy were given to illegals w/o social security numbers.

Not that there was anything wrong with that--sanctuary housing to dems means never having to ask who what when where why!

Think of buying houses for other people as our making giant foreign aid payments to the planet, so they'll like us.

I think we're on the brink of massive, sweeping nationalization. Of many things.

re: #108 tradewind

Yes. Actually I believe it was next week's poll (in 2000) that had Gore up 11

I think some of this cash leaving Wall Street is coming to my company. We had a record sale day yesterday.

re: #77 mama winger

I went to the gas station today and filled up my car. There was gasoline. I went to work. I had a job. I went to the store. There was plenty of food. I came home. I have a home.

Life is okay. My IRA sucks but I am okay.

Exactly. Life goes on.

And you want to know something else? The market will eventually rebound. You can put money on it. In fact, most of us already have money on it.

re: #111 Atweber

You got the pyramid part right. We'll be the slaves pushing the stones around if it does become the USSA.

Drink up, gang.

re: #6 zombie

This is your economy on ACORN.

Every time McCain, a Republican congressperson, or a McCain campaign advisor/spokesperson gets hit with the "McCain=Bush" allegation, the immediate response is still playing into a defensive role.

It's time to hit the Dems offensively with attacks on the fiscal disaster leftist policy demands have wrought, and I think that will be starting soon.

If Obama can make a speech on race relations, and Romney on religion, it's time for McCain/Palin to have their turn: a major speech on the economy.

re: #112 looking closely

Then you haven't actually lost it... the losses are on paper, and if you're not getting a check monthly from dividends to live on or have to sell now/soon, your life hasn't changed.

re: #89 calcajun

Where the auto makers are going to get hit is in their credit lines. Remember that all three loan money to people to buy their cars. If they can't get money to loan, the can't move their inventory. Also, if auto dealers can't sell cars, they can't buy them. I read somewhere that Ford made more money off its credit corporation than it did selling cars.

I think Ford spun out their credit division a couple years ago. I forget their name, but I'd used them a couple times.

re: #110 calcajun

Actually, you do. It's called you cookie jar or mattress.

Then where am I supposed to keep my cookies & pr0no?
/

Holy shit. The stocks and everything are going down the tubes. I hope there's a recovery soon, and not that "bailout-from-on-high" stuff in Congress.

(On the other hand, housing should be pretty cheap in ten years...)

re: #68 calcajun

For all of you saying the economy is going down the drain, take a deep breath and put a Dramamine patch on behind your ear.

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

This is a crisis of confidence. The banks don't know if the mortgage backed securities they hold are worth anything. But, look at the foreclosure rates and compare with the number of mortgages actually out there. People are nervous and scared and react accordingly. But we as a nation are still sound.

Buck up, gang. Where's the LGF sang-froid? Lizards are supposed to be cold-blooded.

I agree with your outlook on the economy. We will all still be getting plenty to eat and our houses will continue to be heated.

But the uncertainty of where the bottom will be reached is demoralizing regardless of your politics.

re: #108 tradewind

Is it true that at this point in the '00 election cycle, Gore was up by eleven?

When did the dot-com bubble burst?

The only thing we have to fear is a national beer shortage.

re: #94 arethusa

Like the bailout bill was supposed to avoid panic/recession/all hell breaking loose. Which is happening anyway.

It would not, and could not prevent panic from breaking out. Any reports that the $700 billion bailout would stop it were naive.

re: #10 celtic templar

Beginning of the end?

That sentiment is why you're seeing these capitulations. People panicking and having their mutual funds go to cash. The funds wait until 3 p.m. to execute the orders for the day.

This is just panic, compounded by buyers waiting for Paulson to actually purchase some assets and remove the uncertainty. GET ON WITH IT HANK!

Good time to buy?

re: #74 Cognito

American automakers make their own decisions. They ply their own strategies. They manufacture their own products. And they've done each of those three things in spectacularly crappy fashion for years.

re: #83 arethusa

Ya know what I've learned over the past week? Stocks will sink, and stocks will rise, but someone will always argue with/attack Cognito. If only that were an investment opportunity.

C'mon, the thread is young, keep it nice.

I had to put those two together.
Twice today -- twice -- I've had to go along with or defend Cognito.

What I quarrel with in Cognito's analysis, though, is the Union influence (at least the retirement portion) that got a lot of industry in trouble 40+ years ago. I think industry decisions once they realized what had happened were about as good as they could be.

Although I will freely admit that GM's statement about "the public not wanting compact cars" back in '70 was stupid.

Is there ANYTHING we can do to prevent this election from being stolen right in front of our eyes?

OT, but . . .

We KNOW non-existent voters are being registered and illegal votes are being & will be cast to an extent none of us has EVER seen before. This is indisputable.

Can't the states where this fraud is being perpetrated put the brakes on this? Can they refuse to certify the election until they can verify the registration rolls?

I'm grasping at straws here - I am not a lawyer.

Anyone out there who would know?

Totally nutter thinking...but...I get a strange feeling that this is all part of a master plan to take down the U.S.A., started years ago.
Regardless, Frank and Dodd should be in the interrogation seat.

NObama!
NoDrepession!

re: #97 tfc3rid

Which makes you wonder...

They have to destroy it in order to rebuild it.

re: #122 BeerDrinking_VictoryMonkey

Then where am I supposed to keep my cookies & pr0no?
/

Keep the porn off the coffee table--never know when Mom is coming to visit. Where you keep you cookies is your own damn business. ///

I finally got the nerve to check my balances. Looks like I've only lost about 10k in the last few weeks. I have one retirement account in the AK Balance Trust, but another one is in S&P 500. I only lost 3k in the one that is in S&P. Not that i'm complaining, but shouldn't that be wiped out?

re: #112 looking closely

At least I don't "need" all the money I lost. . .yet. . . .

It's not a loss until you sell. At this point, you may as well just ride it out.

/the markets always recover

If you want to be safe and still make some sort of gains. Money Market accounts are good. Usually around 4 to 4 1/2% growth no matter what. Don't do it to make big bucks though. But at least you will stop losing in the short term (if you are worried about the short term).

Let not your heart be troubled. Zombie said we could all stay at his/her house.

re: #109 Honorary Yooper

Hey, I was just trying be conservative (mine's at 6-1/2% now; 6% looks kinda good).

You're right, I shouldn't be greedy.

re: #126 Dirk Diggler

My God! And Bud was bought out by the Dutch! God, could they make it taste any worse? ///

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

I understand the feeling, it's pervasive. This equals panic = panic selling = bad investing.

This too shall pass.

More proof that the Lord takes the Days of Awe seriously.

re: #89 calcajun

Where the auto makers are going to get hit is in their credit lines. Remember that all three loan money to people to buy their cars. If they can't get money to loan, the can't move their inventory. Also, if auto dealers can't sell cars, they can't buy them. I read somewhere that Ford made more money off its credit corporation than it did selling cars.

True.

However... if the automakers weren't paying outrageous wages and benefits to their union workers, who have boats and vacation houses and condos in Florida, maybe they wouldn't have to charge so much for their vehicles. Maybe if they made more reliable products, people wouldn't be flocking to longer lasting, more mechanically sound Japanese vehicles.

re: #68 calcajun

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

Right - you only have to worry about all this if Obama gets elected.

re: #133 Athos

They have to destroy it in order to rebuild it.

No, no, what is the word Obama uses... Ummm...

RENEW America...

re: #108 tradewind

Is it true that at this point in the '00 election cycle, Gore was up by eleven?

Yes. And at the time the dial only went to ten!
//what movie I just plagiarized was that from?

re: #107 sadhu

we don't - there is no credit available

Then how come they keep sending me credit card offers? Shoot, I got one from WaMu after they went under!

The Crash of '08

This shaping up to be one that our grandkids will ask us about.

$Trillions in wealth evaporating in just a few trading days.

In checking all the records we have, there has never been a move like this. Unprecedented.

We are watching the complete re-evalution of "risk".

.

re: #90 experiencedtraveller

Drinks on me!

/I hope I can pay in fancy seashells...

You have fancy seashells? Luxury!

When I was kid all we had was the gray clamshells, and most of those were cracked.

Cheer up, by the time Obama takes office, we'll have nothing left to tax.

Always find that silver lining people.

Check out this guy at a McCain Rally. Fantastic! Too bad McCain can't get that worked up...

re: #51 CyanSnowHawk

All payments on time and full amount. I think I have to quit paying Countrywide for a couple months to get better terms for my mortgage though.

Thus the Moral Hazard created by The Pelosi, Bonnie Fwank, Chris Dodd.

re: #130 jwb7605

I had to put those two together.
Twice today -- twice -- I've had to go along with or defend Cognito.

What I quarrel with in Cognito's analysis, though, is the Union influence (at least the retirement portion) that got a lot of industry in trouble 40+ years ago. I think industry decisions once they realized what had happened were about as good as they could be.

Although I will freely admit that GM's statement about "the public not wanting compact cars" back in '70 was stupid.

You're not quarreling with me at all, there. I can't stand the unions.

Everything in the economy these days seems to be divided in three parts between the greedy, the stupid, and the crooked.

re: #140 calcajun

My God! And Bud was bought out by the Dutch! God, could they make it taste any worse? ///

They could, but they'd have to add actual urine to it.

re: #129 rudi

Good time to buy?

I bought a bit last week. I'd say sure- depending on how long you're staying in the market. 10 years + I'd certainly say buy.

buy low/sell high.

not the opposite.

If you're young and just entering the stock market, and have a long time horizon, this is a wonderful time to buy & hold. Most things will shake out and you will be buying cheap.

Other countries are bigger basket cases than we are, so money & talent & brains will continue to want to be in the USA, unless we become a socialist &*()-hole like them soon.

re: #113 alegrias

Drudge said over 5 million home mortgages in bankruptcy were given to illegals w/o social security numbers.

Not that there was anything wrong with that--sanctuary housing to dems means never having to ask who what when where why!

Think of buying houses for other people as our making giant foreign aid payments to the planet, so they'll like us.

The houses were valued at ridiculous numbers, the banks made their transaction fees, the investment houses made their fees. The seller(s) made great profits. Those now holding the CDOs are more screwed than the home buyers, who at least got lodging for their year or two of teaser payments. And those holding the CDOs for the most part should have known better.

And the houses are still standing, and still worth what they were in, say, 2001, and if that's half what they sold for in 2006, too bad.

re: #125 celtic templar

When did the dot-com bubble burst?

May '00.

re: #133 Athos

The ' burn-this-village-to-save-it ' scenario.
Still makes me shudder.

re: #23 Ward Cleaver

All the doom-and-gloom types should just SFTU.

I'd up-ding you for that if I knew what SFTU meant.
;)

re: #125 celtic templar

When did the dot-com bubble burst?

Spring / Summer 2000

re: #147 Honorary Yooper

Then how come they keep sending me credit card offers? Shoot, I got one from WaMu after they went under!

Because you probably have a 700+ credit score... We are the only ones who can get credit right now...

re: #143 shibumi

I agree. I always felt there was something wrong with the picture of an assembly line worker living in an upper-middle class house with new cars, boats, etc.

re: #154 Oriculum

They could, but they'd have to add actual urine to it.

New Bud Green - It's Recycled!

re: #137 Junior

If you want to be safe and still make some sort of gains. Money Market accounts are good. Usually around 4 to 4 1/2% growth no matter what. Don't do it to make big bucks though. But at least you will stop losing in the short term (if you are worried about the short term).

Wake up and smell the coffee, money market has been paying 2% for the last year, and that may fall below 1%, thanks to our friends at the Fed.

re: #43 karmic_inquisitor

Even the pharmaceuticals got thrashed today. Drugs still sell in recessions. Just the same, folks bailing right and left. You have companies with patent protected income streams that are trading at 4 X earnings. That is just silly.

Yes, but what is BHO going to do to the drug companies. And before you tell me about their huge profit margins, I want them to make a lot of money so that they keep turning out new lifesaving drugs. And no, I don't own any drug company stock.

re: #102 dhimmipower

Don't worry! Obamy Whammy will take care of everything, because he was a community activist, and a Harvard law professor. Yeah, buddy! Look how well-spoken he is. With genius mentors like Jeremiah Wright and William Ayers, we'll just be rolling in money. Yep, prosperity is just as close as election day, yup yup!

I'm all giddy inside just thinking about it.

re: #135 Alaska Kim

I finally got the nerve to check my balances. Looks like I've only lost about 10k in the last few weeks. I have one retirement account in the AK Balance Trust, but another one is in S&P 500. I only lost 3k in the one that is in S&P. Not that i'm complaining, but shouldn't that be wiped out?

It's only a real loss if you sell. Otherwise, you have only a paper loss.

re: #147 Honorary Yooper

Then how come they keep sending me credit card offers? Shoot, I got one from WaMu after they went under!

Last week a guy from Michigan called Rush and talked to him about loans. He wanted to get (if I recall correctly) a small business loan. He called five- or maybe seven- different financial institutions, and all we willing to give him a loan. In cash strapped Michigan.

re: #105 Killian Bundy

Well, most "experts" have been calling for the bottom at DOW 8500-8000. Hey, we're there. Looked like capitulation to me today. There just can't be that may more sellers left. Most of these stocks are ridiculously oversold now.

/gee, you'd think the markets didn't like the prospects of an Obama win or something

Typically a Republican Prez win registers a 3% uptick in the Dow post elections (1-2week period), while a Democrat win is neutral or even down slightly.

As for your performance over tenure of D vs R Prezzies..

On average, Ds have caused more inflation, but large and small cap stocks also have performed way better vs R tenures.

On the average, Rs have lower inflation, and Bonds + Treasury bills perform better...

So, on that note, get ready to buy some stocks mid November and you'll do fine! X)

re: #147 Honorary Yooper

There is credit available to individual consumers who have good credit. It's banks lending to banks and banks lending to businesses that is on ice.
You can still get a thirty year fixed mortgage, at a really low rate now, as long as your credit is solid.
And as long as the property honestly appraises.

re: #151 gregg

Check out this guy at a McCain Rally. Fantastic! Too bad McCain can't get that worked up...

Dose are my peeple

:)

re: #68 calcajun

For all of you saying the economy is going down the drain, take a deep breath and put a Dramamine patch on behind your ear.

We are NOT going into the tank.
We are NOT going into a depression--at least not the economic kind.
We are NOT going bankrupt as a nation--morally is another matter.

This is a crisis of confidence. The banks don't know if the mortgage backed securities they hold are worth anything. But, look at the foreclosure rates and compare with the number of mortgages actually out there. People are nervous and scared and react accordingly. But we as a nation are still sound.

Buck up, gang. Where's the LGF sang-froid? Lizards are supposed to be cold-blooded.

AMEN!

re: #154 Oriculum

They could, but they'd have to add actual urine to it.

You mean they don't now? Then what explains the taste. BTW, out here a 6-pack of Bud costs almost as much as a 6-pack of Sierra Nevada. What is wrong with this picture?

I came upon this last night while perusing RedState: "The Conservative Case for Socialism"

I haven't read followup comments on that thread since late last night, but I went to bed with both a headache and an upset stomach...I just don't see how this can be rationalized by anyone, least of all, a true Conservative...

I hope that the American people realize that it is the Dems who are responsible for this. How ironic, the surge works, so that helps the Dems, because the war is not a hot topic any more, and the dems cause a meltdown of our economy via Raines Barney Fag Maxine Waters and Acorn, and the Dems gain from that as well. A truly fine mess we've gotten into.

re: #116 BeerDrinking_VictoryMonkey

I think some of this cash leaving Wall Street is coming to my company. We had a record sale day yesterday.

Do you sell widgets?

re: #142 lifeofthemind

More proof that the Lord takes the Days of Awe seriously.

expand please...

re: #158 CyanSnowHawk

It was March, 2000.

By August, 2000, the NASDAQ had rallied back to within striking distance of 5000. But that point turned out to be the shorting opportunity of a lifetime. That is, until now.

.

re: #162 tfc3rid

Because you probably have a 700+ credit score... We are the only ones who can get credit right now...

What I fear is that it may dry up even for those of us with good credit. Surely, though, the unchangeable laws of finance -- the deep laws, like lending smart money -- will not disappear.

re: #165 itellu3times

Hey, still better than losing 20% or more in the short term (again, if short-term is where your worry is)

re: #149 DeafDog

You have fancy seashells? Luxury!

When I was kid all we had was the gray clamshells, and most of those were cracked.

Were they in the driveway? When I was growing up, they added broken oystershell to concrete along with the pea gravel. My uncle's driveway was nothing but shells over crushed granite over mud.

re: #151 gregg

Check out this guy at a McCain Rally. Fantastic! Too bad McCain can't get that worked up...

That's awesome!

re: #102 dhimmipower

Don't worry! Obamy Whammy will take care of everything, because he was a community activist, and a Harvard law professor. Yeah, buddy! Look how well-spoken he is. With genius mentors like Jeremiah Wright and William Ayers, we'll just be rolling in money. Yep, prosperity is just as close as election day, yup yup!

Cuz when American turns its mind to something, it happens!

It's that easy.

... and that's what scares me most about this carpetbagging geek, he really believes it's that magical, like most liberals, all you have to do is click your heels together and repeat three times.

re: #175 Quad Mocha Matti

I came upon this last night while perusing RedState: "The Conservative Case for Socialism"

I haven't read followup comments on that thread since late last night, but I went to bed with both a headache and an upset stomach...I just don't see how this can be rationalized by anyone, least of all, a true Conservative...

Resistance is Futile is not our battle cry.

re: #157 itellu3times

The houses were valued at ridiculous numbers, the banks made their transaction fees, the investment houses made their fees. The seller(s) made great profits. Those now holding the CDOs are more screwed than the home buyers, who at least got lodging for their year or two of teaser payments. And those holding the CDOs for the most part should have known better.

And the houses are still standing, and still worth what they were in, say, 2001, and if that's half what they sold for in 2006, too bad.

* * * *
On the other hand, if Northern Virginia is any indicator, illegals who bought houses generally have 5-10 able bodied working people in them, so presumably can cover their mortgage better than dual income average Americans.

re: #145 tfc3rid

No, no, what is the word Obama uses... Ummm...

RENEW America...

Hey, I've seen Logan's Run, I know what RENEW means.

Do you get the feeling that Senator Palpatine is appearing by holograph to Obama right now, and smirkingly saying "everything is unfolding just as we had planned"?

re: #143 shibumi

True.

However... if the automakers weren't paying outrageous wages and benefits to their union workers, who have boats and vacation houses and condos in Florida, maybe they wouldn't have to charge so much for their vehicles. Maybe if they made more reliable products, people wouldn't be flocking to longer lasting, more mechanically sound Japanese vehicles.

Well built Japanese cars like this? Or this?

re: #188 Occasional Reader

Do you get the feeling that Senator Palpatine is appearing by holograph to Obama right now, and smirkingly saying "everything is unfolding just as we had planned"?

Yes...

Boy am I glad I haven't been throwing money into my IRA.

re: #154 Oriculum

They could, but they'd have to add actual urine to it.

Then they could sell it in boutiques, like that cat-poop coffee.

re: #125 celtic templar

When did the dot-com bubble burst?

March 2000

Time for a little levity...

1929:

The entertainer Groucho Marx borrowed from the bank against his life insurance policy and against his house to come up with cash to meet margin calls -- but it wasn't enough. During that dark week in October his broker sold all his stocks -- wiping out his life savings of $240,000 and leaving him deeply in debt.

"I would have lost more," he said later, "but that was all the money I had."

re: #181 Junior

Hey, still better than losing 20% or more in the short term (again, if short-term is where your worry is)

Perhaps, but it's below inflation, even before taxes.

If anything, short money should be paying HIGH rates right now, but the little guys are being screwed, ... er, are making a contribution to the recovery.

If that bailout is the kind of bipartisanship we're going to get with a McCain presidency then I want nothing of it. I'd rather let the libs do all the stupid stuff while we conservatives stick to principles and come out looking cleaner in the end. I mean, seriously, I can't imagine things would be much worse if we hadn't passed the bailout, and at least we wouldn't have sold our souls.

On the bright side, however, wooden arrows will no longer be taxed.

IMF Prepares Emergency Aid for Wounded Economies

Yea...lets see how generous the Oil-Tick & Tyrants Union is with their friggin money, cause they won't be getting it from us.

re: #190 tfc3rid

Yes...

And this of course is what I mean by "Senator Palpatine".

re: #177 DeafDog

Do you sell widgets?

In the art & antiques business. Selling tangible investments that have never been worth nothing, unlike stock that might go tits-up overnight.

re: #198 Occasional Reader

And this of course is what I mean by "Senator Palpatine".

Who else?

We near-seniors need to remember that much of our stocks were purchased when the DOW was under 1000.
I know we took a huge hit on paper but compared to what we actually put in over the years it is nothing.
I did hear an interesting point about gold:
IF you left the stock market in 1987 when it tanked and put your money into gold you'd be the loser.
Stocks beat inflation by 16%, gold only by 2%.

re: #198 Occasional Reader

And this of course is what I mean by "Senator Palpatine".

Dum-dum-dum dum-de-dum-dum-de-dum... You know what I'm humming to myself...

re: #192 CyanSnowHawk

Then they could sell it in boutiques, like that cat-poop coffee.

Oooh. Eating fecal matter is VERY progressive!

/

re: #198 Occasional Reader

And this of course is what I mean by "Senator Palpatine".

///I thought Palpatine was cleverly disguised as Joe Biden?

re: #170 LockeStockandBarrel

Typically a Republican Prez win registers a 3% uptick in the Dow post elections (1-2week period), while a Democrat win is neutral or even down slightly.

As for your performance over tenure of D vs R Prezzies..

On average, Ds have caused more inflation, but large and small cap stocks also have performed way better vs R tenures.

On the average, Rs have lower inflation, and Bonds + Treasury bills perform better...

So, on that note, get ready to buy some stocks mid November and you'll do fine! X)

Regardless of who wins, I think Nov. 4 & 5 will be good days for the markets (unless there are huge race riots)

re: #179 Dad O' Blondes

It was March, 2000.

By August, 2000, the NASDAQ had rallied back to within striking distance of 5000. But that point turned out to be the shorting opportunity of a lifetime. That is, until now.

.

I knew it was one of the M months.

re: #189 Honorary Yooper

It pains me to say it, but those are exceptions. In general, Japanese cars are simply better built than American cars.

re: #58 shibumi

As insane as this sounds, I still suspect that this is a Democrat controlled manufactured crisis that they want to get worse.

Barack Obama and the Strategy of Manufactured Crisis

My husband and I were thinking the same thing yesterday. We really don't have much in stocks, etc. My husband is kind of a cash guy but it surely will affect our sales from our farms. Our orders will dry up as we supply large stores around the country. If it continues and our taxes go up at the same time ... we will have to decrease our workforce.

But, I feel like it will get better ... after the election ... but who will be in charge of the checkbook for the country then ... WE HAVE TO WIN THIS WAR

OT - sorry if this has been posted.

(not really - I can't be expected to keep track of every ding dong post that gets put here)

Farakhan calls Obama the Messiah

re: #188 Occasional Reader

Do you get the feeling that Senator Palpatine is appearing by holograph to Obama right now, and smirkingly saying "everything is unfolding just as we had planned"?

You mean this guy?

re: #189 Honorary Yooper

Well built Japanese cars like this? Or this?

My Honda vehicle (Odyssey) was built in the US.

The Suburban I almost bought was built in Mexico...couldn't get any of the others in Texas.

Be careful how you judge which car is "American".

/ps my 1991 Civic ran 176,000 miles with no major issues until it decided to burn a valve one fine day.

re: #162 tfc3rid

Because you probably have a 700+ credit score... We are the only ones who can get credit right now...

Is this also why I keep getting calls from "credit counseling services" who basically demand that I retain them to "reduce my credit card bills"?

And every time I start to say "Please put me on your do not call list", hang up on me before I can finish the sentence. And call back three days later to repeat the process. (Ditto for the automated calls with the "Press Two to discontinue these calls" thingie. It never stops them.)

The punch line is;

1. I am on the National Do Not Call Registry, and

2. I don't have any credit cards, anyway. I've never believed in them. (My motto is, "If you can't afford it, don't buy it.")

cheers

eon

What goes down, must come back up? Or, is it the other way around? There has to be a point at which it will start back upwards. Just hold on to your stocks for now, if you have any. It's not a loss until you sell it.

While I am not happy about today's prices, and had bought some more shares this morning, I can say this - turnarounds only happen when everyone thinks they never will.

Even if we endure a year long recession, these prices are lower than what the cash flows from the DOW 30 in a recession would yield.

In market terms, we are oversold.

I thought the bounce would settle in this morning, but (despite good news from IBM and jobless claims) people still were in line to sell, soaked op the buy orders and then ran for the doors in the closing hour. GM led the panic and a report on how the liquidity crunch might effect pharmaceuticals (which is a bit of a joke) got the wave in full motion.

I am going to find some articles on what bottoms look like and tops look like and post them.

This is not fun. I know I join many here in having lost a great deal of money (at least on paper) in the last few weeks. But our economy has not been dismantled.

re: #86 tfc3rid

Mama, that is a tremendous outlook on things... And I think that is a good way to look at it...

One of the things I learned from watching how the AIDS "crisis" has been handled since AIDS was first identified, is to look around me for evidence that the hype is true or false.

For years we heard that AIDS was an epidemic that would infect the hetero population and bring world-wide catastrophe if we didn't stop it.

For some silly reason, it was a real eye-opener when someone asked me if I knew heterosexuals who had AIDS. I did not...(though I knew a few gays who did). And it turned out that the hetero community was largely unaffected except for IV drug users and the occasional transfusion victim.

While such an approach is by no means scientific, it can be a great common sense check on conventional wisdom.

The same approach can be used with global warming. Most of the planets in our solar system are warming. but humans are the cause here on Earth...seems unlikely to me.

Musings from E_O

Dang! Shore am glad I got out last month. Gonna be rich by virtue of not being broke!

Um...someone want to remind me of how the $850B "bailout" is helping? Oh wait, it hasn't gone into effect yet I guess...
Nevermind.

All things considered, the "mental health" portion might have to be increased.

I just checked my CC balance, its less than $200.

Just a bit under the amount of mortgage free arable and forested gently sloping mountain acerage that I own.

And the F350's tanks are full.

/Whoops, I forgot to buy seeds.

Me types too slow.

re: #204 arethusa

///I thought Palpatine was cleverly disguised as Joe Biden?

Jar-Jar Biden? No way.

re: #199 BeerDrinking_VictoryMonkey

In the art & antiques business. Selling tangible investments that have never been worth nothing, unlike stock that might go tits-up overnight.

Nice. Being where I am, people will still keep spilling chemicals (gas and diesel in particular), and someone has to clean them up. I'm not too worried about the job as I've become one of the more senior ones here, and I'm the only one in the office licensed to be a professional engineer.

It could be much worse. Got laid off from a job once because the company screwed the pooch with the client.

re: #80 sadhu

people will get along fine with the computer they have for a while -- sales will be way off -- I think you are underestimating the seriousness of the systemic failure that is underway

That's funny, that wasn't my comment, it was erevu's.

Right about now I'm glad I'm doing the free-lance day-trading thing here at home and not clerking in the S-P 500 pit at the Chicago Mercantile Exchange. I was there during the whole Asian/Russia/tech meltdown from '97 to 2000. In some ways, it was a cool time to be there. I was a good enough clerk that my boss had enough confidence in me to trust me to do a good job during very hectic times. Also, it was cool being a very small part during some important historical times. but the downside was the fact that after a couple weeks of getting pounded on and being busier then heck, I started thinking about drinks at lunchtime with my food, that is, when it was slow enough to grab lunch. Anyway, I have scaled down my current trading because I have no idea what may happen next. You would think a bad day like this would kill the $, but as I type this the Euro is having a bad day also

I think about those criminals from AIG jetting off for massages in the Bahamas POST-BAILOUT and my forehead starts to pound.

Once this all levels out -- once the flow of blood subsides -- there are going to be some political and financial hangings. Someone is going to clean our house. I'm not yet sure who it will be, but it will happen if I have to try and do it myself.

People are angry. You might say, "Ah, but Obama will exacerbate it, protect his party colleagues, etc."

No. I think people are reaching for their torches and pitchforks. I wouldn't be surprised to see massive, massive turnover in Congress next time around. I'd rather have the first three pages of my phone book in power.

re: #182 OldLineTexan

Were they in the driveway? When I was growing up, they added broken oystershell to concrete along with the pea gravel. My uncle's driveway was nothing but shells over crushed granite over mud.

No. We used them and beads to trade for with the Indians for small islands off the coast of New York...but we called in New Amsterdam.

re: #120 tradewind

Then you haven't actually lost it... the losses are on paper, and if you're not getting a check monthly from dividends to live on or have to sell now/soon, your life hasn't changed.

That's like saying you're not really dead until a physician signs the death certificate.
There is no difference between a paper loss and a real one, except for tax accounting purposes.
The money is gone, and I can't spend it.
Further, much of the loss is in options that are simply unlikely to come back before expiration. They were deep in the money two weeks agao, and now they are all 100% time value. So in practice, I will need to sell "soon" and barring a miracle a realized massive loss is inevitable.
As to my IRA, I don't even care. What happened this week will be noise in ten years, and I don't plan to retire until then.
The only silver lining here, is that yes, my life hasn't changed, and yes, I am still employed, and living within my means.
I don't keep one cent in the market that I can afford to lose. . .
I just didn't expect to lose 75% of it in a matter of four weeks!

re: #113 alegrias

Drudge said over 5 million home mortgages in bankruptcy were given to illegals w/o social security numbers.

Not that there was anything wrong with that--sanctuary housing to dems means never having to ask who what when where why!

Think of buying houses for other people as our making giant foreign aid payments to the planet, so they'll like us.

Yes, they did and then when the house went up in value ... the took out equity loans ... and took the cash and went to Mexico ... where they are now living in a really nice Mexican house ... which is paid for ...

re: #204 arethusa

///I thought Palpatine was cleverly disguised as Joe Biden?

I thought it was obvious that Palpatine never had Botox.

Top / Bottom articles - post #1 - from today :

[Link: www.breitbart.com...]

There's some hope by investors that Wall Street is getting closer to finding a bottom after the worst six-day rout for the Standard & Poor's 500 index since 1987. On Wednesday, the Dow gave up 189 points to close at 9,258.10—and was down about 35 percent from its high of 14,164.53 reached exactly one year ago.

"I think the base driver today is that we're oversold," said Arthur Hogan, chief market analyst at Jefferies & Co. "You can't do that too long before things turn around, and I think the bottom of this market gets put in this week."

re: #186 alegrias

On the other hand, if Northern Virginia is any indicator, illegals who bought houses generally have 5-10 able bodied working people in them, so presumably can cover their mortgage better than dual income average Americans.

Well, I can't speak to that, it's not my impression that the SoCal areas like that, are that over-occupied.

But the point isn't mortgage coverage, it's housing values, and if you have a nice mortgage on a house overvalued by 200%, you don't WANT to pay it, nor should you. But you bought the house under the greater-fool theory, that you would never have to pay for it, the rising prices would let you refinance. And that worked quite well, for about five years.

And then it stopped.

And who is guilty here? Well, nobody. And the most innocent guy of all, who sold the house at the inflated value, is holding all the moolah.

(and most likely, turned around and spent it on a larger place of his own, equally overvalued and now troubled)

And that's why it's hard to fix.

re: #220 Occasional Reader

Jar-Jar Biden? No way.

Oh, excellent. I wish I was better with Photoshop -- that one would be priceless.

re: #149 DeafDog

The gray clamshell market may be stabilizing. We should buy now!

/glug glug glug...

re: #217 Rides A Pale Horse

Rides, I can't believe you haven't made yourself a nice avatar yet...

My job may be affected - people will cut down on their pet care if they have to.

My daughter will be okay - there will always be sick people in ICU.

My son will be okay - there will always be another war.

re: #72 arethusa

Or learned something from Andrew Jackson back in 1833.

Is it just me, or does the picture of Andrew Jackson at the top of the Wikipedia article look an awful lot like John Kerry?

re: #207 joncelli

It pains me to say it, but those are exceptions. In general, Japanese cars are simply better built than American cars.

Nope. That's now well in the past. Take a look at the recent JD Powers ratings. It's a mixed bag now, with extremely slim margins separating the different automakers and their marques. For example, Buick is right up there with Lexus now.

re: #214 karmic_inquisitor

I am going to find some articles on what bottoms look like and tops look like and post them.

Hey, this isn't that kind of website, you pervert.

Anybody seen this?

Soviet document shows Biden sold out human-rights concerns

During the Carter administration (SALT-2 talks).

re: #220 Occasional Reader

Jar-Jar Biden? No way.

Mee-sa love clean coal!

re: #233 wrenchwench

I got one, just don't know how to add it...:)

re: #225 DeafDog

No. We used them and beads to trade for with the Indians for small islands off the coast of New York...but we called in New Amsterdam.

Ah. Where I live, the Indians had all died of strange European diseases brought by the Spanish before my ancestors arrived.

re: #235 Son of the Black Dog

Is it just me, or does the picture of Andrew Jackson at the top of the Wikipedia article look an awful lot like John Kerry?

Hey, yeah, it does. Not an uncommon similarity: I had a professor in college who looked like a cross between Andrew Jackson and Benjamin Disraeli.

Some of this is a result of the uncertainty of what is going to happen with 400bn of Lehman debt credit default swaps tomorrow. Yes you saw the number right 400 bn. That's a lot of money for anyone to come up with. More interestingly, it is probably more money than there are Lehman bonds out in the market. A similar thing happened with Calpine when it went bankrupt, and they settled with an auction process since there not enough Calpine bonds to deliver against the outstanding default swaps. How they handle Lehman is a question I do not care to guess at. Its a zero sum game. Somebody forks over 400 bn and somebody else forks over 400 bn of defaulted Lehman crud or something similar. I have a feeling there were some institutions that were selling anything they could get a bid on (known as a GMO or Get Me Out market) to raise cash against this CDS settlement tomorrow. Of course, joe sixpack is totally spooked. He is running to his local mutual fund and trying to redeem shares. Of course, this pours more gas on the fire. But on the bright side, oil is now under $85 for the current month and gasoline is under $2 for the current month. The rapid decline in price may shatter some of OPEC's unity. The only bad side of this is that it may take the pressure off the US to get off its ass and start drilling.

As an aside, Californica today had some power warnings. The study available at [Link: www.nextgenenergy.org...] casts a very gloomy outlook on our ability to provide enough power in this country past 2009.

re: #189 Honorary Yooper

Well built Japanese cars like this? Or this?

Not all American cars are dogs.
Not all Japanese cars are reliable.
But look at the Consumer Reports guide to used cars. Japanese vehicles generally have a better reliability rate in the long term than American vehicles.

re: #193 Summersong

March 2000

...and in August 2000 I became a victim of the dot-com-bomb when I was laid off as an Assistant Designer for a trade show company that had the sheer fit of genius to add diversity to their clientele base by landing contracts with quite a few IT/dot-comers a few months before. Then *poof!* these companies no longer had the $$$ in what budget they had left to spring for a trade show exhibit! and a few months after that, they were gone, or very different animals from what they were before.

This just in, they have found the $700 Billion dollars: Say goodbye They are sending to to be with the rest of the money from Wall Street

re: #239 Ward Cleaver

Anybody seen this?

Soviet document shows Biden sold out human-rights concerns

During the Carter administration (SALT-2 talks).

If there is one thing that's for sure, its that nobody is voting for Obama because of what Biden brings to his ticket!

re: #241 Rides A Pale Horse

I got one, just don't know how to add it...:)

I think you go to the top of the page, click on "My Account", and follow the instructions. I could be wrong...

re: #237 Honorary Yooper

Nope. That's now well in the past. Take a look at the recent JD Powers ratings. It's a mixed bag now, with extremely slim margins separating the different automakers and their marques. For example, Buick is right up there with Lexus now.

I buy American cars because I AM an American. I need no other reason.

re: #237 Honorary Yooper

Well, my Focus is pretty solid, knock on wood. I guess I'm looking at Dodge when I say that. I took a look at the Caliber when it first came out -- the fit and finish was atrocious.

re: #212 eon

2. I don't have any credit cards, anyway. I've never believed in them. (My motto is, "If you can't afford it, don't buy it.")

cheers

eon

How do you rent a car? Book a hotel?

re: #224 Cognito

I wouldn't be surprised to see massive, massive turnover in Congress next time around

Well ...I certainly would be.
Unless you meant the pastry kind, with apples. I imagine there's some emotional eating going on in the halls of DC right about now...

re: #132 IslandLibertarian

Totally nutter thinking...but...I get a strange feeling that this is all part of a master plan to take down the U.S.A., started years ago.
Regardless, Frank and Dodd should be in the interrogation seat.

NObama!
NoDrepession!

Not nutter thinking. I started susupecting the same thing when I heard that McCain,et al, had tried to investigate this mess back in 2003. It's the perfect set-up to subjugate capitalism. Same thing happened in FDR's presidency.

re: #31 CyanSnowHawk

GM will ditch Buick, Hummer ,Saab and maybe Pontiac. And hopefully about 100,000 greedy union workers along with the UAW contract. Then it MIGHT survive

re: #251 joncelli

Well, my Focus is pretty solid, knock on wood. I guess I'm looking at Dodge when I say that. I took a look at the Caliber when it first came out -- the fit and finish was atrocious.

I love my Focus. Way more reliable than my old Buick Century.

re: #113 alegrias

I'm just trying to follow the links and the original source (550 KFYI) doesn't have that story at its website anymore. Did the original source cite some report from the govt?

re: #98 psilocyan

Here's the real sunny side:
US government may take part ownership in banks

And then federal bureaucrats and/or ACORN will decide who get credit and who doesn't.

re: #239 Ward Cleaver

I saw it, and mentioned it, this morning.

I've read the Frontpage article, too.

Damning.

re: #236 taxfreekiller
I don't know about that. Here in the Inland Empire house prices are pretty hammered.

re: #224 Cognito

I think about those criminals from AIG jetting off for massages in the Bahamas POST-BAILOUT and my forehead starts to pound.

Once this all levels out -- once the flow of blood subsides -- there are going to be some political and financial hangings. Someone is going to clean our house. I'm not yet sure who it will be, but it will happen if I have to try and do it myself.

People are angry. You might say, "Ah, but Obama will exacerbate it, protect his party colleagues, etc."

No. I think people are reaching for their torches and pitchforks. I wouldn't be surprised to see massive, massive turnover in Congress next time around. I'd rather have the first three pages of my phone book in power.

I agree - we have many more baby boomers who will or are relying on market investments for income. That's a lot of folks who 1.) are out a lot of money 2.) will be looking for jobs displacing younger people. This is a recipe for a different kind of march in the streets ...

Is Obama depressing the market? Interesting hypothesis. Surely, though it is depressing to see the market recaps on a daily basis.

Here's the thing. The bailout wasn't going to solve things overnight. To suggest otherwise is naive. It was going to take time to unwind all the toxic paper and figure out values.

In the meantime, companies good and bad are taking a beating.