It's Starting - Bear Stearns drops 50% on Bail-out By JP Morgan/Fed Bank of NY

Discussion in 'Economy' started by Paulie, Mar 14, 2008.

  1. Paulie
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    Paulie Platinum Member

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    http://www.123jump.com/market-update/Bear-Stearns-Plunges-49/26903/

    Gold also hit $1,009 today.

    Citibank, Countrywide, Bear Stearns, who's next? The dominoes are falling.

    I seriously hope you people are preparing for what's coming and not sticking your heads in the sand pretending things will work out.

    Banks are bankrupt, and so is the country. Stock up on commodities, because prices are about to SOAR.

    No one wants to listen to Ron Paul, even though he's been right on everything he's said economically. While you write him off in the name of your little pet political positions, he's the only one telling us how to stop this near economic catastrophy, and fix it.

    But noooooo. You'd rather continue blowing people up, and giving people money we don't even have. The one's who feel that way, I HOPE you lose your ass financially. It's about the only way you'll finally wake the fuck up.

    Don't come crying to me, looking for help. The writing has been on the wall. You were warned.
     
  2. jillian
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    jillian Princess Supporting Member

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    Or maybe your boy was just too unappealing a candidate for a million other reasons.

    By the by, even if he got the nomination. He wouldn't be president yet.

    What the article describes would be happening anyway.
     
  3. Paulie
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    Paulie Platinum Member

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    Well, those "million other reasons" aren't going to save this country from it's economic demise. That's why I mentioned the pet political positions that have been keeping people from supporting him. That, or the MSM's daily policy of programming the masses to accept what they refer to as his "long shot candidacy". Talk about banging your head against a wall. 50% of my people I've campaigned to that weren't voting for him, weren't because of that ONE REASON..."unelectability". Otherwise, those people actually AGREED with him, and supported his ideas. That's incredible. How much less critical thinking can go into selecting a candidate than that?

    Just like how people hold their noses and vote EVERY SINGLE election cycle for the sake of one or two pet positions, they ought to do that once again for the sake of this country's economy and overall FUTURE.

    McCain, Hillary, and Obama have no idea how to fix things economically in this country. They all have the same advisors who FOR YEARS have been "advising" us INTO the mess we are currently in economically.

    This is true, and not even something I was trying to allude otherwise to. However, if people had listened to him for the past 20 years, instead of call him a kook, only to find out in the end as the shit starts hitting the fan that he was right, things would be different now.
     
  4. jillian
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    jillian Princess Supporting Member

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    This is the last time I'm going to indulge you on this subject because I'm really unwilling to spend the next eight months responding to whiny posts complaining that the guy no one wanted in the first place didn't win the nomination and we're doomed because of it.

    First, you presume I think he had any of the right ideas. I don't.

    I think he's an extremist who wanted to break apart the government we know
    in favor of something non-existent which no one had any clue would work or not. That ISN'T conservative... that IS radical. Most of us don't want or need radical change because most of us do ok under the current system and merely have policy disagreements about the direction we're supposed to go in.

    That's first off...Second, it's about not wanting him to destroy my son't public education; third, not destroying my social security; fourth, not destroying our relationships with our allies by running some xenophobic, isolationist foreign policy... so you can say all you want that it's a few pet issues. But it's not. It was pretty much every issue.... And I dont' think I ever called him a kook. But I always told you he was a footnote. Get used to it and stop whining and telling everyone how you know you'd have been right.... at least til he runs his third-party campaign and finishes mccain off.
     
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  5. Delbert
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    Delbert Rookie

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    First off, we need radical change. The next couple of years will prove it.

    Secondly, If you think SS will exist in its current form 10 years from now,
    your just being silly. We can not pay for it.

    Destroy your sons public education? :rofl:

    Isolationist, Ron Paul is not. Apparently you dont really know what
    Ron paul stands for.

    I voted for Ron paul in the primary. He was ignored by the media.
    The media wants the status quo because the Republicans are
    no longer conservative.

    Republicans=Democrats

    PS: I also voted for Perot back then, because he knew of our
    looming fiscal problems. remember all those charts?
     
  6. jillian
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    jillian Princess Supporting Member

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    No we don't. We need control and not people who act indiscriminately and thoughtlessly.

    We can pay for social security now that the repubs will finally have their fat little paws off of it.

    And re my son's school... that's awfully rude. He gets a great public school education. Are you a seer? Do you know me? Have you seen his school? No question we have to deal with tests/auditions and the like for him to get the best out of the public school system, but it isn't that difficult to find good schools if you're active, concerned and participate in your child's education.

    I know exactly what Ron Paul stands for. Once again, you seem awfully full of yourself for someone who's gone for the crackpots twice.

    Me? I don't waste my vote.
     
  7. Zoomie1980
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    Zoomie1980 Senior Member

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    CountryWide and Citi? LOL!!! Nothing more is happening to those fools than they deserve. They dolled out billions to people who had no business getting money for home they couldn't afford. And did these fools actually think these high risk clients would actually pay their bills when their teaser rates were done? The slumlord lenders are getting nothing less than what they had coming.

    Commodity "investing" is for fools. Buying gold will ALWAYS be akin to the idiots who stuff cash in their mattresses. Yea, an ounce of gold buys about the same amount of bread today it did 5000 years ago....SO WHAT! I want by investments to actually GROW....over the LONG TERM. not stagnate for 5000 years!!!! And yes. Gold may be 1000 today but it wont be near that two years from now or five years from now.

    And Bear Stearns??? Couldn't happen to a nicer pack of louts. One of the most hidebound old guard firms on Wall St. 28 day bail out so they die in 28 days instead of today....good riddance.
     
  8. Zoomie1980
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    Zoomie1980 Senior Member

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    What demise? You never been through a real recession? I've endured the "misery index" years of the late 70's. My first mortage was 14.5% and I thought that was GOOD DEAL!!!! The bitter recession of 82-83? That was a tough one as we came out of the dark ages of the 70's and began the cleansing process of Reaganomics that saw a 20 year boom in equities. The recessions of 92 and 2001-2002 were non-events.

    My parents lived through the 1930's. That was a real recession. this is just a jerk back to equilibrium much like the .com bust of eight years ago was.

    Plus we have a GLOBAL consumer economy now. When America stops consuming India and China pick up the slack and we all get back happily on track
     
  9. eots
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    eots no fly list

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    gold being 1ooo a ounce is nothing to do with city wide... it is due to the devaluing American dollar
     
  10. Zoomie1980
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    Zoomie1980 Senior Member

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    Gold will tank later this year and next year. It needs to get to $2500 to equal the inflation adjusted peak it reached in 1978. But it won't get anywhere near that level. Dollar is about bottomed out. If you own Euros you'd best be gradually selling them off over the course of this year and buying....dollars.

    This is also the best time in the past 8 years to be BUYING stocks, in general.

    And we will not see a better time to buy a house in the next 10 years than RIGHT NOW.
     

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