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Title: House votes on bailout bill - TAKE 2 Post by: Abraxas on October 03, 2008, 09:52:46 AM So it passed 263 to 171...
But what I find odd is that the DOW started at +250... and now, after the passes, DROPPED to +100. :o ??? :-\ WTF?!?!?! Title: Re: House votes on bailout bill - TAKE 2 Post by: Reaganite on October 03, 2008, 09:56:40 AM it passed.. as expected...
its pure BULLSHIT! Title: Re: House votes on bailout bill - TAKE 2 Post by: neorealist on October 03, 2008, 11:45:30 AM prolly b/c the insiders know it isn't going to fix much
Title: Re: House votes on bailout bill - TAKE 2 Post by: Cass on October 03, 2008, 03:33:25 PM A Christmas Tree, but rather than ornaments loaded down with pork. A real pig with no lipstick. But just for those who decided it was a crisis that had to be averted to save the nation, but didn't bother to note all the "sweet" additions required to get the GOP to vote for it, you can find just a bit if you bother to read listed by
McClatchy here: http://www.mcclatchydc.com/331/story/53350.html And don't forget that nice tax bailout for NASCAR. Title: Re: House votes on bailout bill - TAKE 2 Post by: Opmod on October 03, 2008, 03:44:45 PM I realize this guy was "cherry picking" the bill for the good and the bad.
AND of course this says nothing at all about HOW things are stated. Makes permanent undercover activities is very nondescript. Title: Re: House votes on bailout bill - TAKE 2 Post by: And Justice For All on October 03, 2008, 03:59:22 PM We'll see how things turn out but I seriously doubt this bill will do anything at all. It might prevent job losses and retirement loss, that's about the only positive things I can see coming from it.
Title: Re: House votes on bailout bill - TAKE 2 Post by: Abraxas on October 03, 2008, 04:29:41 PM It should have done NOTHING but address the current crisis.
Everything else was politics, something I thought a catastrophe of this magnitude might actually supercede. I was sadly mistaken... Title: Re: House votes on bailout bill - TAKE 2 Post by: freethinker on October 03, 2008, 04:34:51 PM You can bailout a sinking boat and keep it afloat for a while....but if you don't fix the holes in it, it will only sink again.
Wall street knows this. Title: Re: House votes on bailout bill - TAKE 2 Post by: Reaganite on October 03, 2008, 08:58:00 PM welcome to Obamonomics.
Title: Re: House votes on bailout bill - TAKE 2 Post by: jpn of Seattle on October 03, 2008, 09:22:20 PM welcome to Obamonomics. Let's hope it's like Clintonomics. Eight years of peace and prosperity and competence. Boy, where have those years gone... Title: Re: House votes on bailout bill - TAKE 2 Post by: jpn of Seattle on October 03, 2008, 09:23:54 PM The economic situation is really, really dim:
Quote From Rex Nutting at MarketWatch: More severe recession now forecast by Goldman Sachs The U.S. recession will be "significantly deeper" than they previously thought, Goldman Sachs economists predicted Friday in a research note. ... The unemployment rate will likely rise to 8% by the end of next year from 6.1% currently. Goldman is now forecasting Q3 2008 real GDP growth at 0.0%, with PCE at minus 2.5% (annualized as reported by BEA). This is similar to my two month estimate for PCE, see Estimating PCE Growth for Q3 2008. Both PCE and investment will be negative in Q3, but net exports, private inventories and government spending will probably all show positive growth in Q3. So GDP may be close to zero. A major change in the Goldman outlook is the increase in the unemployment rate to 8% in 2009 (their previous forecast was for unemployment reaching 7% in 2009). (http://www.princeton.edu/~pkrugman/u6sept08.png) Paul Krugman, Friday morning: "A grim morning: Double plus ungood news on multiple fronts this morning. The credit crunch is getting worse: LIBOR jumped again, the TED spread is at a new record. Bad news on employment: payrolls down 159,000, average work week down, official unemployment rate flat at 6.1 percent but broad measure (U6) up from 10.7 to 11. We are going over the edge." Title: Re: House votes on bailout bill - TAKE 2 Post by: Reaganite on October 03, 2008, 09:29:40 PM welcome to Obamonomics. Let's hope it's like Clintonomics. Eight years of peace and prosperity and competence. Boy, where have those years gone... You mean when gingrich shut down government to force sensible budgets? Sorry sonny... PELOSI/REID aint gonna cut any spending... Obama/Biden/Reid/Pelosi... lol PERFECT together to kill liberalism... its a perfect storm :) Title: Re: House votes on bailout bill - TAKE 2 Post by: jpn of Seattle on October 04, 2008, 06:50:50 AM You mean when gingrich shut down government to force sensible budgets? Sorry sonny... PELOSI/REID aint gonna cut any spending... Newt shut down government in order to force Clinton to accept a bunch of budget cuts. Clinton stood up to Gingrich and Gingrich backed down. The episode was very damaging to Gingrich's career. Clinton balanced the budget. Republicans restored the deficits. Title: Re: House votes on bailout bill - TAKE 2 Post by: neue regel on October 04, 2008, 07:48:28 AM Quote Let's hope it's like Clintonomics. Eight years of peace and prosperity and competence. Boy, where have those years gone... I'm not busting on Clinton but if the years since his administration have proven anything, it is that, unfortunately, the economy of the 90s was built on sand. The tech bubble, the foundation of the housing bubble, cooked accounting gave everyone the false sense that all was well. Not necessarily his fault, but a false sense of security, none the less. Title: Re: House votes on bailout bill - TAKE 2 Post by: Gojira on October 04, 2008, 04:38:49 PM So it passed 263 to 171... But what I find odd is that the DOW started at +250... and now, after the passes, DROPPED to +100. :o ??? :-\ WTF?!?!?! The market already priced it in. Title: Re: House votes on bailout bill - TAKE 2 Post by: Abraxas on October 04, 2008, 06:08:35 PM Could you explain that?
neo said cause traders don't think it will do much, but then why did the DOW plummet 400 points when it was vetoed the first time? Furthermore, why was the DOW up 250 before the bill was voted on... and down 200 after it finally passed? Title: Re: House votes on bailout bill - TAKE 2 Post by: neorealist on October 05, 2008, 04:49:14 PM The traders already knew it was going to pass on the day the market bumped up app. 450pts.
That was the effect of the bill that was going to pass in the next 48hrs....people who get their news and intel from the MSM are always behind Title: Re: House votes on bailout bill - TAKE 2 Post by: machioveli on October 05, 2008, 06:45:41 PM I found this hilarious but true
http://www.ireport.com/docs/DOC-101911 Title: Re: House votes on bailout bill - TAKE 2 Post by: Abraxas on October 06, 2008, 09:21:21 AM :o ... Oh my God!
The DOW is below 10,000! Title: Re: House votes on bailout bill - TAKE 2 Post by: Patton on October 06, 2008, 09:36:09 AM :o ... Oh my God! The DOW is below 10,000! I sure am glad the "bailout" is working! Title: Re: House votes on bailout bill - TAKE 2 Post by: And Justice For All on October 06, 2008, 10:29:02 AM Yeah John McCain must be really questioning himself now that he went for a bill filled with pork spending and it didn't even work. This guy has nothing to go on now.
Title: Re: House votes on bailout bill - TAKE 2 Post by: Patton on October 06, 2008, 11:17:43 AM Obama voted against it?
Title: Re: House votes on bailout bill - TAKE 2 Post by: And Justice For All on October 06, 2008, 11:35:31 AM Yes he did vote for the bailout, but atleast he isn't running on a major platform that was against pork spending and this bill is the mother of all pork spending. Therefore McCain has absolutely nothing to run on now.
Title: Re: House votes on bailout bill - TAKE 2 Post by: neorealist on October 06, 2008, 02:01:53 PM :o ... Oh my God! The DOW is below 10,000! Let the market take its necessary dive...besides, there is still one large appreciate international market...credit default swaps are up 25% according the most recent Economist issue.
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