[rshoffer]

Dow down almost 350! The bouncing dead cat stopped bouncing. We need to hear from the great Kahuna.

[Villages Kahuna]

I think we've got a lot more on the downside coming. Notwithstanding what the politicians say, they waited too long to pass the "bailout bill". The credit markets have been frozen for several days. Now there is all kinds of evidence of the result. I think I heard 16 states would have to have big layoffs because there are no buyers for their muni- bonds. California had to lay off 20,000 teachers because they won't be able to make payroll. All kinds of public works projects have been stopped. O'Hare and Miami have stopped work on airport expansion projects. Lots and lots of other business problems resulting from no credit, from big companies to small. Car sales were down 1/3 in September and will be a lot worse in October. The U.S. car companies were on tender hooks financially to begin with. No one knows if the fed will nationalize them like the banks if they look like they'll fail.

As all this works its way thru the U.S. economy, there'll be unexpected hits to earnings and further downward pressure on the stock market. It'll be months before the Fed actually buys any of those bad loans. This thing could last for a long while.

Sorry to say that in my opinion this will be a long and deep recession. I'm a long way from being alone in that opinion.

[chuckinca]

What goes down - goes up

Hang on tight and enjoy the ride!



.

[Boomer]

When I saw Pelosi and company, both sides of the aisle, smiling yesterday, it made the hair on the back of my neck stand up. It made my blood run cold. Those bloated pigs in DC do not deserve to smile. They should be in prostrate position, flat on their faces, begging us for forgiveness and mercy. But that will never happen. The entitled. The untouchable. It is all so sick.

Boomer

[JohnN]

I agree with Kahuna,

it's going to be ugly for YEARS if not DECADES,

think about it, how can the govt continue to spend more on wars and bailouts

while jobs are leaving the country
fighting wars
no borders
health care is in crisis
ENERGY
social security
wall street / banks
lack of congressional action, moreso, lack of ethics
yada yada yada

not much reason to bet on the upside

I don't worry about me, I pray for my kids and yours though

[samhass]

Well said, Boomer.

Originally Posted by Boomer

When I saw Pelosi and company, both sides of the aisle, smiling yesterday, it made the hair on the back of my neck stand up. It made my blood run cold. Those bloated pigs in DC do not deserve to smile. They should be in prostrate position, flat on their faces, begging us for forgiveness and mercy. But that will never happen. The entitled. The untouchable. It is all so sick.

Boomer