 | 
09-30-2008, 02:20 PM
|  | Yes, I'm just kidding Member #11939 | | Join Date: Sep 2008 Location: Little Rock, AR
Posts: 6,176
Thanks: 278
Thanked 278 Times in 174 Posts
Rep Power: 79 | | Congress takes a Holiday, Stock Market UP - Is there a connection? | 
09-30-2008, 02:23 PM
|  | NAVY '62-'65 Member #5459 | | Join Date: Jun 2007
Posts: 1,418
Thanks: 0
Thanked 21 Times in 14 Posts
Rep Power: 30 | | | This was the Dims October surprise.....gotta give 'em credit....it took damn good planing for Soros and Company to pull it off....
__________________ _________________________________________ "I'm sick and tired of people who say that if you debate and disagree with this administration, somehow you're not patriotic. We need to stand up and say we're Americans, and we have the right to debate and disagree with any administration. " - Hillary Clinton April 2003 --------------
"We have met the enemy, and he is us"....POGO | 
09-30-2008, 02:33 PM
|  | USMB Member Member #11508 | | Join Date: Jul 2008 Location: Central California
Posts: 2,780
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15 | | Background music - softly playing Twlight Zone Theme
Set stage for déjà vu ....
.... It was the night of October 21, 1929, *margin calls were heavy and numerous Dutch and German sell calls came overnight for the Tuesday morning stock market opening.
On Tuesday morning, banks and corporations called in $150 million of call loans and Wall Street was in panic before the New York Stock Exchange (NYSE) opened.
On October 24, 1929, people began selling their stocks as fast as they could. Sell orders flooded the market.
On a normal day, only 750 – 800 members of the NYSE started the Exchange. However, there were 1100 members for the morning opening that day.
Furthermore, the Exchange directed all employees to be present since there were numerous margin calls and sell orders placed overnight and extra telephone staff were arranged. The DJIA closed at 299 that day.
October 29 was the beginning of the crash. Within the first few hours the stock market was open, prices fell so far as to wipe out all the gains that had been made in the previous year. The DJIA closed at 230 points.
Since the DJIA was - and still is – viewed as the chief indicator of the American economy, public confidence was shattered. Between October 29 and November 13 (when stock prices hit their lowest point) over $30 billion disappeared from the American economy. It took 25 years – until 1954 – for the markets to totally recover. A new high was reached after303 months with an overall gain of 803%. Stock Market Crash 1929 Information | 
09-30-2008, 02:40 PM
|  | cool Member #11254 | | Join Date: May 2008 Location: Colbert Nation
Posts: 8,697
Thanks: 58
Thanked 73 Times in 66 Posts
Rep Power: 24 | | | This is not 1929.
Most bank deposits are gauranteed by the FDIC, so there will be no run on the banks. The only people going down are the people that deserve to go down. There are thousands of banks in this country that did not gamble with people's money. There will be an economic downturn, but it will not be severe. | 
09-30-2008, 02:47 PM
|  | USMB Member Member #11508 | | Join Date: Jul 2008 Location: Central California
Posts: 2,780
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15 | | No shit? It's not?  Dang! | 
09-30-2008, 02:49 PM
|  | Allergic to Kool-Aid Member #9370 | | Join Date: Mar 2008 Location: Fayetteville, AR
Posts: 5,188
Thanks: 38
Thanked 92 Times in 74 Posts
Rep Power: 68 | | | No, it has nothing to do with Congress being off. It has to do with the fact that it plummeted yesterday, and now it's balancing off. Every time in the past month it's plummeted and everyone flipped the fuck out thinking we were going into a depression, it balanced itself off the next day. People are too ignorant to wait the storm out.
__________________ An eye for an eye will make the whole world blind. -Mahatma Gandhi | 
09-30-2008, 02:54 PM
|  | USMB Member Member #11508 | | Join Date: Jul 2008 Location: Central California
Posts: 2,780
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15 | |
Quote: Originally Posted by jsanders No, it has nothing to do with Congress being off. It has to do with the fact that it plummeted yesterday, and now it's balancing off. Every time in the past month it's plummeted and everyone flipped the fuck out thinking we were going into a depression, it balanced itself off the next day. People are too ignorant to wait the storm out.  Thank you, my point has been made.
I guess Chris missed my melodrama scenario. Oh well. | 
10-01-2008, 08:26 AM
|  | Yes, I'm just kidding Member #11939 | | Join Date: Sep 2008 Location: Little Rock, AR
Posts: 6,176
Thanks: 278
Thanked 278 Times in 174 Posts
Rep Power: 79 | | | It's always funny when Congress is up in arms over a "national emergency" and then takes a vacation. How silly is that? | 
10-01-2008, 09:03 AM
|  | I monitor reality for you Member #1324 | | Join Date: May 2004 Location: Austin, Tx
Posts: 31,218
Thanks: 178
Thanked 194 Times in 141 Posts
Rep Power: 146 | |
Quote: Originally Posted by xsited1 It's always funny when Congress is up in arms over a "national emergency" and then takes a vacation. How silly is that? It shows that the people who are in the line of fire in this " national emergency " can manage WITHOUT the bailout. Even congress thinks so in SPITE of what they claim. Obviously there is no need to panic and we shouldn't dash headlong into some plan that hasnt been properly debated.
__________________ "Some men eventually stumble over the truth but they usually pick themselves up and walk on as if nothing ever happened."
-Winston Churchill
I am anti-sexual because I don't like sex
-Kitten Koder |  |
Lower Navigation
| | | | Thread Tools | | | | Display Modes | Linear Mode |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | | » Site Navigation | | | |