SAN FRANCISCO, California (AP) -- Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion rescue plan to restore order to the financial industry.
RE: brace yourselves for a 500 point DOW drop today
I think you are probably right. I don't know how fast it will happen but times are tough. The bail out will make things worse IMO. Not only was it a band aid but it was a darn small band aid. Not money wise but idea wise.
RE: brace yourselves for a 500 point DOW drop today
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world markets are down 4-8% ..... hmmm 700 billion gets the world a 4-8% sell off ...... interesting that the move did NOT stabilize things
Not surprised that the bailout did not stabilize things.
More bank failures are expected next year. Car dealers are going out of business because they can't get loans. Looks pretty bleak. Look for congress to be calledinto emergency session about December for big bailout #2.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: brace yourselves for a 500 point DOW drop today
The only thing the bailout was supposed to do is free up the lending industry to continue to make loans and keep our economy going. The markets will react somewhat but rumors and fear will be the true determining factor. Market declines are like a virus. They self perpetuate and won't end until people start to have confidance that they can buy in and make a profit. I don't see much good happening until well after the elections and then it will be tempered by the fallout from the carnage that is going on right now.
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Too busy with fishing to spend much time here.
RE: brace yourselves for a 500 point DOW drop today
I truly feel for those on fixed incomes,those living off savings cannot be comfortable.Being forced to sell at todays market prices makes no sense,but many have no other choices.
Will the falling oil prices help? or will they stifle the drive for energy conservation and alternative fuel research?
I'm sure glad my garden did really well,this could be a very long winter for some.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: brace yourselves for a 500 point DOW drop today
The way I cope is just don't look. Mmmmm squash soup, broiled squash, stuffed squash, grilled squash, sauteed squash, baked squash, boiled squash......and when we run out of electricity and fuel oil........raw squash.
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Too busy with fishing to spend much time here.
RE: brace yourselves for a 500 point DOW drop today
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ORIGINAL: Champlain Islander
The way I cope is just don't look. Mmmmm squash soup, broiled squash, stuffed squash, grilled squash, sauteed squash, baked squash, boiled squash......and when we run out of electricity and fuel oil........raw squash.
I guess when life gives you squash you make...............................[:-]
RE: brace yourselves for a 500 point DOW drop today
Great news. I have some cash I'm getting ready to jump in with.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
brace yourselves for a 500 point DOW drop today
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