dow CRASH AND BURN Continues with NAKED SHORTS ON A STICK!
*** DOW DEATH SPIRAL™ ***
|Trade Time:||4:05PM ET Oct. 7, 2008
|Day’s Range:||9436.67 – 10124.03|
|52wk Range:||9,503.10 – 14,280.00|
DIVE, DIVE, DIVE! TO A FIVE YEAR LOW…
I watched the (non) debate on tv last night. It was a program length infomercial for the two parties of the apocalypse. It was interesting to see obamessiah and the reverend mcPain try to blame each other for all the problems the two corpoRATe parties caused! I BELIEVE EVERY BAD THING the co-joined twins of the apocalypse SAY ABOUT EACH OTHER! I hope YOU watched and are now convinced that YOU can’t commit stupidcide™ by voting for mcbama! We will get no help from either the dirty dems OR filthy repubs!
Having the left ass cheek tell the right ass cheek that it smells is not enough! IT’S A DAMN DISGRACE THAT THE OTHER FOUR PRESIDENTIAL CANDIDATES ARE EXCLUDED FROM THESE EVENTS! HAVING ALL THE CANDIDATES ON THE STAGE WOULD BE THE WAY TO MAKE THESE EVENTS TRUE DEBATES!
Well Cricketeers, the third trading session after the corpoRATe welfare bailout went pretty much as the first two, but with a larger drop. The dow has now lost over 1000 points since Friday last, with no end to the slide in sight. The Asian markets are in chaos with 10% drops in Wednesday trading. Japan’s Nikkei dropped over 9%, the largest single day drop for that index in twenty years. Several exchanges suspended trading in the face of steep drops. Panic selling spread to Europe with the rising sun in Wednesday trading, with big loses on all exchanges. Today could be pitch black Wednesday in the US markets! Could today be dow 8000 day or will it go EVEN LOWER? They may have to ring the big bell early if the dow drops too far, too fast. The corpoRATe media talkin’ heads are already making “it’s gonna take time…” noises in reference to the corpoRATe welfare bailout plan. TIME UP! IT’S HIGH NOON ON THE STREET!
humpty g’dubya sat on a wall (street)
humpty g’dubya had a great fall (from grace)
All the kings horses (barnanke and paulson)
and all the kings men (obamessiah and reverend mcPain)
couldn’t put our economy back together again!
For those of us not in the “investor class,” can YOU say recession boys and girls? I knew that YOU could! Alas, the National Bureau of Economic Research’s business cycle dating committee is not yet ready to say it. This from reuters:
Panel not likely to call a recession soon
By Emily Kaiser
October, 7 2008
WASHINGTON (Reuters) – The arbiter of U.S. recessions is not ready to declare that one has begun and probably won’t decide until well after the November presidential election, the chairman of the recession-dating committee said on Tuesday.
Robert Hall, a Stanford University economist who leads the National Bureau of Economic Research’s business cycle dating committee, said the group was waiting to examine more economic data and was “resolute” in not allowing political considerations to affect its decision.
“We have been subjected to political pressure, which I’m not going to talk about,” he said at an economics conference in Washington. “This has been an issue but we’ve stood tall on that.” He did not elaborate.
SONOFABUSH! The academic intelligentsia has their heads up their asses as usual. OF COURSE THIS IS A RECESSION YOU OVER CREDENTIALED AND UNDER CAPABLE DIM WADS! By the time those idiots decide to formally declare it a recession, their homes will be in repo and stanford u and other college campuses will have long been turned into low income housing!
BAD BOY, BAD!
With the world economy in chaos and on the verge of complete collapse, with the corpoRATe welfare bailout having no positive effect. Those idiots in washingtOOn have moved swiftly to finger wagging and stern talking to the corpoRATe crooks who caused this disaster! This from ap:
Congress scolds former AIG executives over crisis
By ANDREW TAYLOR,
Associated Press Writer
WASHINGTON – Executives at American International Group Inc. hid the full range of its risky financial products from auditors as losses mounted, according to documents released Tuesday by a congressional panel examining the chain of events that forced the government to bail out the conglomerate.
The panel sharply criticized AIG’s former top executives, who cast blame on each other for the company’s financial woes.
“You have cost my constituents and the taxpayers of this country $85 billion and run into the ground one of the most respected insurance companies in the history of our country,” said Rep. Carolyn Maloney, D-N.Y. “You were just gambling billions, possibly trillions of dollars.”
AIG, crippled by huge losses linked to mortgage defaults, was forced last month to accept an $85 billion government loan that gives the U.S. an 80 percent stake in the company.
House Oversight Committee Chairman Henry Waxman, D-Calif., unveiled documents showing AIG executives hid the full extent of the firm’s risky financial products from auditors, both outside and inside the firm, as losses mounted.
IF THEY BRING OUT THE GUILLOTINE, I’LL LEARN TO KNIT!
DAGNABIT! Slaps on corpoRATeer wrists are not enough! The time has come for PERP WALKS! These corpoRATe criminals need be INDITED, CONVICTED AND JAILED! If all we’re gonna get from the keystone kops on the beat is taking criminal charges “off the table” AGAIN there will be no deterrent and the corpoRATe crooks will continue their larcenies!
The next big larceny that need be investigated is called “credit default swaps.” This from ap:
Unregulated swaps hastened Wall Street collapse
By JOHN DUNBAR,
Associated Press Writer
WASHINGTON – It can be a fine line between investing and gambling. But in Las Vegas, you know the odds. On Wall Street, that’s not always the case.
Especially when it comes to the $62 trillion market in arcane financial contracts known as “credit default swaps.”
“Moreover,” adds Michael Greenberger, former director of trading and markets for the Commodity Futures Trading Commission, “Las Vegas is regulated.”
These swaps are increasingly being blamed for the near-collapse of insurance giant American International Group Inc., the bankruptcy of investment bank Lehman Brothers, and the downfall of other investment houses and financial institutions.
NAKED SHORTS ON A STICK!
There you have it in a nutshell! These “credit default swaps” are nothing so much as naked shorts on a stick! However, naked shorts are illegal, “credit default swaps” aren’t! The ethically challenged corpoRATe criminals have been allowed by the feckless appaRATchiks in washingtOOn to run COMPLETELY AMOK, via DEREGULATION/UNDER REGULATION! There have been economic CRIMES COMMITTED! They have CRASHED THE WORLD ECONOMY! When are we gonna see ARRESTS?
The time to sit on their hands and allow the glorious free market to check and balance itself has passed. The corpoRATe welfare bailout proves that. NOW IS THE TIME TO TAKE CORRECTIVE ACTION BY CRIMINAL CHARGES AND REGULATION OF THE OUT OF CONTROL corpoRATeers! OUTLAWING THESE “credit default swaps” would be a very good start!
These “credit default swaps” are sucker bets whether you are crazy enough to buy them or sell them:
“AIG was on one side of these trades only: They sold CDS. They never bought. Once bonds started defaulting, they had to pay out and nobody was paying them. AIG seems to have thought CDS were just an extension of the insurance business. But they’re not. When you insure homes or cars or lives, you can expect steady, actuarially predictable trends….
My death doesn’t, generally, hasten your death. My house burning down doesn’t increase the likelihood of your house burning down. Not so with bonds. Once some bonds start defaulting, other bonds are more likely to default. The risk increases exponentially.“
(Reuters, Sept. 18, 2008)
Can anyone think of anything more fiscally irresponsible then allowing $62 trillion to be gambled in an UNREGULATED CASINO?
In case you haven’t heard, aig executive corpoRATe crooks spent almost half a million dollars on a luxury golf junket A WEEK AFTER THE TAXPAYERS BAILED THE COMPANY OUT! These thieving corpoRATeers have NO SHAME!
Click that link to see what need be done, then support and vote NADER for REAL CHANGE!
The Telepathic Crickets™ on the ClapSotronics editorial board and I wanna see RICO STATUTE prosecutions of these corpoRATe crook executives! Take away ALL THEIR ILL BEGOTTEN GAINS TO PAY FOR THE corpoRATe welfare bailout! That means the mansions and yachts too! Then the corpoRATe criminals need be housed in the federal pen!
If you want more info on the alternative debate happening around October 16 or 17, click these links:
To take action on opening the debates to Independent and third party candidates CLICK THIS LINK!
Please send an email to janut janet brown the executive director of the “Commission on Presidential (non) Debates.” Below is the email I sent her. Feel free to use that one or write your own! Her email address is: email@example.com
I know you and the rest of the feckless appaRATchicks in washingtOOn are busy trying to sell the Brooklyn Bridge of a corpoRATe bailout plan to us sucker taxpayers. But it would be really keen if you stopped for a second and understood that “debates” which include only the co-joined twins of the apocalypse called mcbama will amount to nothing more then the left ass cheek telling the right ass cheek that it smells bad.
After all, there is this thing called democratic process! I understand how inconvenient and annoying it can be for you in the CENSORSHIP industry, but some of us are really old fashioned and set in our ways.
We believe THAT ALL THE CANDIDATES ON THE BALLOT FOR ELECTION should be included in the debates.
This is not a request, but a demand!
I hope your 401k goes bust in the stock market crash…
I really do hope all the feckless appaRATchiks in washingtOOn lose their 401k’s in the market crash!
Don’t forget to stop by our satirical sister blog:
Make sure YOU WATCH THESE VIDEOS!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer
~ by ClapSo on October 8, 2008.
Posted in Activism, Bank Failures, bush, censorship, Change, clapso, Cons, corpoRATe media, corpoRATe welfare, CorpoRATeer, corpoRATion, Crash, credit crisis, Cricketeers, DAGNABIT, debates, democrats, deregulation, Dow, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, ethically challenged, feckless appaRATchiks, government bailouts, Keystone Cops, labushanostra, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, mcbama, mccain, mcPain, Mortgage, Mortgage Crisis, MSM, Nader!, nobama, obama, obamessiah, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, progressives, republicans, reverend mcPain, SONOFABUSH, Stock market, Stocks, Stupidcide™, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!
Tags: Activism, BAD BOY BAD!, Bank Failures, bush, censorship, Change, clapso, Cons, corpoRATe media, corpoRATe welfare, CorpoRATeer, corpoRATion, Crash, credit crisis, credit default swaps, Cricketeers, DAGNABIT, debates, democrats, deregulation, DJI: ^DJI, Dow, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, government bailouts, IF THEY BRING OUT THE GUILLOTINE I'LL LEARN TO KNIT!, Keystone Cops, labushanostra, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, mcbama, mccain, mcPain, Mortgage, Mortgage Crisis, MSM, Nader!, NAKED SHORTS ON A STICK!, Nikkei, nobama, obama, obamessiah, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, progressives, republicans, reverend mcPain, RICO STATUTE prosecutions, SONOFABUSH, Stock market, Stocks, Stupidcide™, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!