dow drops 189 as fed keystone kavalry charges (the taxpayers)
*** DOW DEATH SPIRAL™ ***
|Trade Time:||Oct 8, 2008
|Day’s Range:||9194.78 – 9628.07|
|52wk Range:||9,042.97 – 14,280.00|
DIVE, DIVE, DIVE!
“Global central banks took on the rate cuts because they wanted to unfreeze the credit market, but credit spreads are still widening”
—Brian Dolan, chief currency strategist, at Forex.com in Bedminster, New Jersey—
“It’s essentially too little, too late, liquidity is still at a premium right now and that’s weighing on the market’s risk appetite.”
—Kathy Lien, director of currency research at GFT Forex in New York.—
“What’s hurting things right now is a crisis in confidence — people are not willing to lend, It’s not that the rate terms are not favorable, they’re just scared to death that they’ll never get the money back.”
—Peter Jankovskis, director of research at OakBrook Investments LLC in Lisle, Illinois—
Well Cricketeers, it looks like the international central bank cartel averted a total crash of the dow and other indexes worldwide. That the dow only lost 189 points Wednesday was a miracle. The Asian markets showed gains in early Thursday trading, and the Nikkei 225 index rose more than 1 percent but fell back to close down 0.5 percent to 9,157.49, a five-year low. Other Asian markets had a mixed session, with little hope that the world economic crisis is yet over. Having now emptied their regular bag of tricks with this rate cut, the central bank cartel is scrambling to learn new tricks. One need question if this will work long term. I don’t see the rate cut having anything more then a temporary effect. Here comes the next round of screwball ideas!
DAGNABIT! The $700 billion lemon socialist corpoRATe welfare bailout will next be used to “rescue” thieving banks that aren’t even in trouble (at least so claim the thieving corpoRATe bankers)! This from the zoo york times:
U.S. May Take Ownership Stake in Banks
By EDMUND L. ANDREWS and MARK LANDLER
October 8, 2008
WASHINGTON — Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.
Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks’ balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones.
The Treasury plan was still preliminary and it was unclear how the process would work, but it appeared that it would be voluntary for banks.
SONOFABUSH! Having already bought lipstickless bank pigs in a poke using taxpayers money. The feckless appaRATchiks of the two parties of the apocalypse in washingtOOn are ready to now buy THE WHOLE STINKIN’ HOG FARM WITH TAXPAYERS MONEY! Just what we taxpayers need, more bank white elephants! Which banks will take part in this “voluntary” fed program? THE ONES WHO HAVE BEEN CLEVER IN COVERING UP THE FACT THAT THEY ARE ABOUT TO GO BELLY UP!
champagne corks will fly and the caviar will be spread
This is just another fed whitewash intended to let the corpoRATe criminals off the hook and stick we the taxpayers with the bill! The thieving bankers will happily dump ALL THEIR BAD INVESTMENTS ON WE THE TAXPAYERS. As the executive corpoRATe criminals give themselves huge xmas bonuses, MANY OF YOU WILL BE GIVEN PINK SLIPS AND A PLACE ON LINE AT THE UNEMPLOYMENT OFFICE! Then the champagne corks will fly and the caviar will be spread at the lavish corpoRATe xmas parties, while the taxpayers xmas GOOSE WILL BE COOKED and YOU will be going to a local food pantry in hope of getting a TURKEY!
The would economy is TANKING! The IMF slashed its 2009 forecast for world economic growth to 3.0% revised downward from a July projection of 3.9%, and warned that a recovery from the worst financial crisis since the 1930s would be unusually slow. Hold onto your hats Cricketeers, we’re in for a nasty economic ride!
The latest in the disgrace that is aig is an additional taxpayer funded corpoRATe welfare bailout of the thieving insurer. The taxpayer tab has now been increased from $85 billion to $122 billion! None of the executive corpoRATe criminals at aig could be reached for comment, as they are all on another lavish retreat payed for by YOU!
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 can only hope YOU aren’t considering committing stupidcide™ by voting for the dirty dem or filthy repub ethically challenged co-joined twins of the apocalypse called mcbama come election day!
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 9, 2008.
Posted in Activism, Bank Failures, Budget, censorship, Change, clapso, co-joined twins of the apocalypse, 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, 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, Poverty, progressives, republicans, reverend mcPain, SONOFABUSH, Stock market, Stocks, Stupidcide™, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!
Tags: Activism, Bank Failures, Budget, censorship, Change, clapso, co-joined twins of the apocalypse, corpoRATe welfare, CorpoRATeer, corpoRATion, Crash, credit crisis, Cricketeers, DAGNABIT, debates, democrats, deregulation, Dow, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, feckless appaRATchiks, fed keystone kavalry, government bailouts, international central bank cartel, 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, Poverty, progressives, republicans, reverend mcPain, SONOFABUSH, Stock market, Stocks, Stupidcide™, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!