Finally, somebody with right mind save us from craziness of Bernanke, Paulson, Bush and all other idiots that try their ass out to destroy US economy.
Sure, Bernanke, Paulson, Bush and most other official are not the reason all this economy turmoil started, but they certainly are those who try to keep it running wild at us, the lower and medium class average joe.
The house of representative did the absolute right thing. You all have my applause.
The Dow Jones Wilshire 5000 Composite Index recorded a paper loss of $1 trillion across the market for the day, a first.
However, the house saved 700 billion ++ from flushing down to hell. They could save more trillions worth of cheap US dollar!
Dow drop 777, big deal! Here's my question to all the so-called expert: why can't dow drop 700+ point? why stock market can't fall?
The damage in the economy has already been done. No matter what happen to US and world stock market, economy still in turmoil. Remember this: stock market crash will never cause an economy collapse; economy collapse is the only reason stock market crash.
However, good time went away fast. Just 1 day after the great news, lawmaker plan another new bailout deal.
"Doing nothing is not an option," House Majority Leader Steny Hoyer, D-Md., said after seeing the $700 billion emergency package for the nation's financial systems fail 228-205 on Monday.
Surely that's another stupid person. Doing nothing is always better than doing destruction to the economy. They keep telling us that doing nothing is not an option and financial institutions will fall. However, Federal Reserve has been helping these companies from day 1 and some of it still collapse. Bear Stearns, Indymac, Freddie Mac, Fannie Mae, Lehman, AIG etc. has been helped by Federal Reserve all the way and they still down. So how can Federal Reserve prove financial companies will survive?
Today market will rebounded sharply as stupid traders will be bullish about the new bail out plan. Let them lose their money if they want. Dow and s/p 500 are going nowhere but grave. See you at 7400, Dow and 750 for s/p 500.
1 comment:
Recently an insurance company nearly wind up....
A bank is nearly bankrupt......
Who fault?
The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......
Sign a petition to your favourite president candidate, congress member again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible....
http://remindmyselfinstock.blogspot.com/
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