Discussion in 'Trading' started by flipflopper, Sep 9, 2008.
They spent 500 billion of taxpayer dollars for a 24 hour market rally.
Won't be long until $500B has NO effect... THEN we'll be in trouble..
Who says they're finished?
There's a lot more money of yours and your future generations to spend!
The sick thing is all they did was give traders in the know a ton of free money.
The market bounce on Friday was expected to a certain extent but I did notice it seemed a little stronger then normal. All those players loading up to sell into the "news".
Since I've been trading futures (18 months) I have never seem more 1000 plus tick buy programs hit.
Our leaders are doing a great job. If you don't like it then LEAVE.
Makloda, Landis, did I do it right?
Yes, where are Paulson's and Bernanke's defenders?
C'mon guys, just admit it - epic fail.
Alternative... if you don't like it that they don't like it, perhaps YOU could leave.. ?
I don't really care.... its the poor folk and joe six pack who need the goverment that are going to be hurting.
If you're rich anything the gov does will have little or no effect on your life or lifestyle. The only thing others have to worry about is the increase in crime that occurs during economic depressions.
But I've got a fully loaded clip for anyone who wants to play try that shit on me.
But hey, the rest of the world likes us better now and that will get us... uhh... yeah...
I'm right here. Let's be reasonable. This has very little to do with either Bernanke or Paulson, though i'm not a fan of the latter.
We are simply looking at what happens as we move into what will become, as some of us have been saying for at least two years, a very deep recession.
This has to do with Greenspan taking the discount rate to historic lows in late 2003, as we were coming out of a recession to goose the economy at precisely the wrong time to help his buddy George get elected in 2004. And then, while aware of excesses in the mortgage lending, turning a blind eye to them.
And now you expect Bernanke and Paulson to be able to fix the mess? It would have been much easier to fix had we not been running all time record deficits that we had no other choice but to monetize, thus adding to inflation in commodities and the economy in general. And the situation was not made any better by borrowing money and sending checks to everyone.
It is instructive to look at a ten year monthly chart of the S&P. From that it is clear that the proper move for the Fed, if anything, would have been to start tightening in Nov of 2003. As by then the S&P had already rebounded 250 points from the Oct. 2002 low. So why did Greenspan take the discount rate to an historic low in Nov. 2003, Curiously enough, one year before Bush was up for re-election?
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