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07-21-2008, 08:49 PM
| | Registered User | | Join Date: Jul 2008 Location: NYC Area
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Rep Power: 1 | | | Wall Street Surges As Workers Lose Their Jobs and Their Homes
"What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.
"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.
"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.
"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."
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07-21-2008, 09:10 PM
| | Banned | | Join Date: Jul 2008 Location: Texas
Posts: 562
Rep Power: 0 | | Quote:
Originally Posted by coolgeee  "What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.
"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.
"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.
"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."
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Keeping you informed! | Reid and Pelosi are the twin economic killers! |
07-21-2008, 09:43 PM
|  | I used to be cool | | Join Date: May 2007
Posts: 4,290
Rep Power: 106 | | | Get out of the Dollar.
__________________
"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."
-Ronald Reagan |
07-21-2008, 09:44 PM
| | incompatible user | | Join Date: Feb 2008
Posts: 11,443
Rep Power: 204 | | | Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.
And Wuh blaming it on Dems is nothing more than his usual partisan blather.
__________________ Do test tube babies have navels? |
07-21-2008, 09:45 PM
|  | Dejected conservative. | | Join Date: Jun 2008 Location: Michigan, USA
Posts: 2,640
Rep Power: 13 | | Quote:
Originally Posted by Ravi Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.
And Wuh blaming it on Dems is nothing more than his usual partisan blather. | I find myself agreeing with Ravi once again, so much for Bobo saying I am a hard core Neo-con.
__________________
Charles_Main
"Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct."
Thomas Jefferson
"Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition."
Thomas Jefferson |
07-21-2008, 09:48 PM
| | incompatible user | | Join Date: Feb 2008
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Originally Posted by Charles_Main I find myself agreeing with Ravi once again, so much for Bobo saying I am a hard core Neo-con. | lol, I'm just sensible, Charles, reality knows no political agenda.
__________________ Do test tube babies have navels? |
07-21-2008, 09:49 PM
| | Dejected conservative. | | Join Date: Jun 2008 Location: Michigan, USA
Posts: 2,640
Rep Power: 13 | | Quote:
Originally Posted by Ravi lol, I'm just sensible, Charles, reality knows no political agenda. | well said, to bad so many around here have completely escaped reality.
__________________
Charles_Main
"Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct."
Thomas Jefferson
"Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition."
Thomas Jefferson |
07-21-2008, 09:50 PM
| | I used to be cool | | Join Date: May 2007
Posts: 4,290
Rep Power: 106 | | Quote:
Originally Posted by Ravi Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.
And Wuh blaming it on Dems is nothing more than his usual partisan blather. | The accountability issue is a good reason for being against it, but what about the inflation, debt, and tax burden that will inevitably ensue?
There are more bank failures to come. When is enough ENOUGH?
__________________
"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."
-Ronald Reagan |
07-21-2008, 09:53 PM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
Posts: 4,819
Rep Power: 13 | | Quote:
Originally Posted by coolgeee "What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.
"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.
"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.
"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."
Editorial Digest
Keeping you informed! | The Fed is partially privately owned. Carnege, jp morgan and rockafellor started it. Control the money and you control the country and people.
The Fed loves the further we go into debt. All income tax, which is unconstitutional, goes to paying some of the interest on the debt.
Congress, senate and President didn't approve of bear stearns bail out. They just did it. That was our money. Now we are further in debt. Their excuse? It would have colapsed the economy if they didn't do it. BULLSHIT.
So much for free markets. If these banks predatory lended for 8 yrs unregulated, that was delay and bush. The Fed should take the hit. The rich bankers who own our monetary system should bail bear stearn with their own personal wealth. Bush, chaney, haloburton, telecoms, exxon, top 1 percent, etc should all pay us americans back what they stole for the last 8 yrs.
Yes brother, it is time to take America back. |
07-21-2008, 09:57 PM
| | I used to be cool | | Join Date: May 2007
Posts: 4,290
Rep Power: 106 | | Quote:
Originally Posted by sealybobo The Fed is partially privately owned. Carnege, jp morgan and rockafellor started it. Control the money and you control the country and people.
The Fed loves the further we go into debt. All income tax, which is unconstitutional, goes to paying some of the interest on the debt.
Congress, senate and President didn't approve of bear stearns bail out. They just did it. That was our money. Now we are further in debt. Their excuse? It would have colapsed the economy if they didn't do it. BULLSHIT.
So much for free markets. If these banks predatory lended for 8 yrs unregulated, that was delay and bush. The Fed should take the hit. The rich bankers who own our monetary system should bail bear stearn with their own personal wealth. Bush, chaney, haloburton, telecoms, exxon, top 1 percent, etc should all pay us americans back what they stole for the last 8 yrs.
Yes brother, it is time to take America back. | See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.
How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail?
__________________
"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."
-Ronald Reagan |
07-21-2008, 10:18 PM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
Posts: 4,819
Rep Power: 13 | | Quote:
Originally Posted by Paulitics See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.
How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail? | I'm a tax IF you are going to spend liberal. I think Pelosi called it pay go?
None of us like the excessive pork. FYI, even though the dems control congress, the gop still spent more pork in 2007. Can't get anything done if you don't give gop their pork.
Clinton balanced his budget, sortof. Better than Bush.
I think Obama is a great man. He's no Ron Paul, but you see what the Gop and corporate media did to him. All politicians knw he is right, but as Charles said, "talking against lobbyists is political suicide".
Ron Paul went on Air America. They/we/I agree with a lot of what he has to say. We also agree on some things Libertarians have to say. But it is either going to be McCain or Obama, and again, I think Obama is a great man. Statesman. McCain was until he sold out to the devil. He will continue the destruction of the American middle class.
My grandma says, "at least the democrats give a dog a bone".
Tax and spend. What a neocon thing to say. So you prefer a throw it on the debt and spend gop?. I'd love to see your credit card debt. |
07-21-2008, 10:18 PM
| | Dejected conservative. | | Join Date: Jun 2008 Location: Michigan, USA
Posts: 2,640
Rep Power: 13 | | Quote:
Originally Posted by Paulitics See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.
How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail? | I think Bobo just makes it up as he goes.
__________________
Charles_Main
"Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct."
Thomas Jefferson
"Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition."
Thomas Jefferson |
07-21-2008, 10:30 PM
| | I used to be cool | | Join Date: May 2007
Posts: 4,290
Rep Power: 106 | | Quote:
Originally Posted by sealybobo I'm a tax IF you are going to spend liberal. I think Pelosi called it pay go?
None of us like the excessive pork. FYI, even though the dems control congress, the gop still spent more pork in 2007. Can't get anything done if you don't give gop their pork.
Clinton balanced his budget, sortof. Better than Bush.
I think Obama is a great man. He's no Ron Paul, but you see what the Gop and corporate media did to him. All politicians knw he is right, but as Charles said, "talking against lobbyists is political suicide".
Ron Paul went on Air America. They/we/I agree with a lot of what he has to say. We also agree on some things Libertarians have to say. But it is either going to be McCain or Obama, and again, I think Obama is a great man. Statesman. McCain was until he sold out to the devil. He will continue the destruction of the American middle class.
My grandma says, "at least the democrats give a dog a bone".
Tax and spend. What a neocon thing to say. So you prefer a throw it on the debt and spend gop?. I'd love to see your credit card debt. | I'm the farthest thing from a neocon, brother. When I say tax and spend, it's because that's what liberals do. And I'm not just talking about liberal dems, I'm talking about the liberal CONGRESS. That's what it is now, it doesn't matter which party. There are VERY FEW true fiscal conservatives in congress today. I realize the Bush tax cuts were favored by the GOP, but I also realize that the inflation tax that kills us today is favored by BOTH parties equally, and it more than cancels out the measly little tax cuts as far as I'm concerned.
What I just can't comprehend though, is how you could support Obama and Paul. They are just about polar opposites domestically and especially economically, and Obama has proven himself to be such a flip flopper now, that there's no way of knowing whether he'll come through on his Iraq promises. And let's be real, the Iraq promises are the only thing he really had in common with Paul, the only difference being that Paul would withdraw immediately.
__________________
"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."
-Ronald Reagan |
07-21-2008, 10:32 PM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
Posts: 4,819
Rep Power: 13 | | Quote:
Originally Posted by Paulitics See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.
How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail? | I got it! I'm a Daily Show Democrat. Not too proud to admit when the dems screw up, but clearly it is the republicans that are ruining America. |
07-21-2008, 10:38 PM
| | Dejected conservative. | | Join Date: Jun 2008 Location: Michigan, USA
Posts: 2,640
Rep Power: 13 | | Quote:
Originally Posted by sealybobo I got it! I'm a Daily Show Democrat. Not too proud to admit when the dems screw up, but clearly it is the republicans that are ruining America. | Really, I could have sworn the Democrats had been in control of Both houses of congress for 2 years now. Silly me. 
__________________
Charles_Main
"Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct."
Thomas Jefferson
"Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition."
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