Black Friday - 12/12

Discussion in 'Stock Market' started by DavidS, Dec 11, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Watch out below... the Senate is about to reject the auto bailout bill. This could be the worst crash of the year or ever.
     
  2. tigerbob
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    tigerbob Increasingly jaded.

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    Let's hear it for the Senate.
     
  3. DavidS
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    DavidS Anti-Tea Party Member

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    Dow futures are down 311. If they fall to 350, futures trading will be suspended.
     
  4. editec
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    editec Mr. Forgot-it-All

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    Obviously the market isn't thrilled when they learn that a whole lot of consumers won't be consuming very much for the next few quarters..if then

    The vicious cyclon will start shredding this economy in a flurry of pink slips over the American midwest.

    It virtually assures us that Obama and the Dems will begin spending money on infrastruture projects and whatnot.

    I suspect it will take far more money injected into the system by other means, to jump start the economy, if Chrysler, GM go down, than it might otherwise.

    Two millions lost jobs and their lost multiplier effect? That's going to devaste the midwest.

    Well...at least there's no inflation, right now.

    That'll give the government leeway to spend money like drunken sailors.

    That has to be done folks.

    No choice.

    There's not enough money in the economic bloodstream

    These real estate losses, and the stock market are like arterial economic bleeding.

    Those loses are sucking the life's blood out of people's home economies, and the Republic is going into collective economic shock because of it.

    Families are like the cells of the social organizm. When enough of them are bleeding the circulatory system collapses.

    Dr Keynes proscribes a D5 & W solution of massive government spending to save the patient.

    No rise in taxes, though. That would be a big mistake. There's the silver lining in this mess for many of you, I think.

    Spending money on health care might be one alternative method to injecting the system with dough. That's ironic.

    Greening the auto industry another. Improving energy grid another.

    Revamping education system and retraining workers more great investments, too.

    They'll completely neglect to change the trade laws as I would, I suspect..

    The Repubicans would bring up the Smoot-Hawley canard and of course the Dems will fold like a cardtable under pressure.

    Going to be interesting to see this all play out.

    Horrible for some of us, but interesting from a historic point of view.

    The economy is like a car wreck.

    I just can't look away.
     
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    Last edited: Dec 11, 2008
  5. NOBama
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    NOBama Senior Member

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    It don't look like the market is taking the news too badly, but then again, there's still another 1:45 to go. Damn glad I decided to stay out this AM because I would have went long in SKF.
     
  6. DavidS
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    DavidS Anti-Tea Party Member

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    I'm done predicting the market this year. GM was down to $2.60 and it's closing out at $3.92, only down 20 cents for the day, or 4.85%. I can't believe George Bush saved Detroit.

    Still needs to be seen -- all I've heard is that the WH and Treasury will "consider" it.
     
  7. NOBama
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    NOBama Senior Member

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    Yup, the talking heads are already predicting that the Admin will find a way to use TARP money for the auto bailout.

    Meanwhile, I just saw this on MarketWatch:


    SAN FRANCISCO (MarketWatch) -- The Canadian government will provide General Motors Corp., Ford Motor Co. , and Chrysler LLC with CA$3.5 billion ($2.8 billion) to help shore up the Canadian auto sector, CTV News reported late Friday on its Web site. The support falls short of the CA$7 billion the automakers requested, the news agency said.

    Now I hear rumors that they are going to hold-up on the bailout money for Canadian Operations unless the US gov gives-up the 14B$. What a mess.
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    Well fuck this! Canadian taxpayers are shoring up American corporations - why do I need to pay a dime now? GM has $3 billion extra - they don't need my money.
     
  9. Toro
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    Toro Diamond Member

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    I bought the open.
     
  10. NOBama
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    NOBama Senior Member

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    Congrats, your up nicely already!
     
    Last edited: Dec 13, 2008

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