Black Monday at the stock market....

Lehman Bros did not sell and had to declare bankruptcy, Merill Lynch sold to Bank of America to ward off bankruptcy and AIG is most likely next.

The Stock Market down 300 points at the start.

On Sunday Greenspan said it was a 100 year event. The economy is tanking.

Yes I'm worried about the stock market and the economy
What i don't understand is why the two ROCKET SCIENTIST who are running for president
aren't addressing the issues It seems the only talent they have is to bash each other

:

It is time to cut the crap and work on this...

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK

Originally Posted by Guest

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK

I wish I knew how Congress can legislate greed-control, especially when it involves investors at all levels of the population spectrum.

My husband is bouncing off the walls here! And I'm scared to death that McCain will be voted in carrying over the policies of Bush for another 4 years! Not to mention, his admitted lack of knowledge of the economy.

If people that fear change would only understand that with a Democratic Congress and Senate and a Democratic President, things at least have a chance of improving. My personal feeling is that (not over night) our economy will greatly improve. Otherwise, with McCain, the veto's will flow. And we'll be worse off than we are today.

People you'd better start listening to your pocketbooks and wallets, instead of voting for someone you could have a beer with. Guess what you wouldn't be able to afford a beer!

Wake up!

Originally Posted by chelsea24

My husband is bouncing off the walls here! And I'm scared to death that McCain will be voted in carrying over the policies of Bush for another 4 years! Not to mention, his admitted lack of knowledge of the economy.

If people that fear change would only understand that with a Democratic Congress and Senate and a Democratic President, things at least have a chance of improving. My personal feeling is that (not over night) our economy will greatly improve. Otherwise, with McCain, the veto's will flow. And we'll be worse off than we are today.

People you'd better start listening to your pocketbooks and wallets, instead of voting for someone you could have a beer with. Guess what you wouldn't be able to afford a beer!

Wake up!

In the 1980s and 1990s, more than 1,000 savings and loan institutions failed, leading to a federal bailout totaling roughly $125 billion.

The last Democrat to be president came to Mexico's aid in 1995 when the peso flopped. The international bailout involved countries and banks lending Mexico $50 billion. The US share was $25 billion of American taxpayer money.

Also during the last Democratic administration (1998) the hedge fund Long-Term Capital Management croaked and prompted the Federal Reserve to help arrange a $3.6 billion private bailout.

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them.

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them
__________________________________________________ ______________________--

It appears, from my reading on the posts, that CHELSEA feels all the ills and bad things in the world come from the Republican party and that goodness and holiness emit from the left !

Originally Posted by Bucco

In the end, these things happen despite which administration is in "power." Blaming or crediting either the Democrats or Republicans for any of it is incorrect. Neither party tells us where to invest our money or with whom or for what reason. That's an action for which we can't accuse any of them
__________________________________________________ ______________________--

It appears, from my reading on the posts, that CHELSEA feels all the ills and bad things in the world come from the Republican party and that goodness and holiness emit from the left !

I would disagree...I think she is looking at what is going on right now. With a republican in office RIGHT NOW...and for the last 8 years...the economy has only gotten worse! I think Chels see's no HOPE with 4-8 more years! We (the American people...of all ages, race and backround) need HOPE that we will see better days a head...there is NO HOPE in McCain!! IMO

Is it true that the Co's from Freddie and Fannie have joing Osamas financial team ?

Originally Posted by Guest

All the candidates can do is TALK about what they will do when they take over....don't hold your breath!!!!
The Democrats do have an opportunity to do something right now with their control over congress. That is not likely to happen until after the election. They will wait to see if Obama wins. If he does then we MAY see some heroic moves to make something helpful happen.....again don't hold your breath.
If Mcain wins, the congress will just continue their current track record resulting in more of the same.....DOING NOTHING!!!

Looking for the politicians to solve the problems of the American people is a long gone, concept that no longer exists.
As it hass EVERY time the country is in strife of one kind or another, free enterprise will ultimately bail us out.

As for the stock market, one can only look at it's history since record keeping.....IT ALWAYS RECOVERS.

If you want peace of mind. only watch network news on Sundays. The ups and downs may still be there but the volatility will certainly be less. For the best result,,,,just read TV Happy Paper only....no other media input.

BTK

Read The Rise and Fall of the Roman Empire... we will not always "bounce back". Our economy is a house of cards that is imploding. Those of us living on a 401 K are in major trouble. Those on fixed gov't pensions should be fairly safe for the immediate future. Someone recently forewarded me a terrifying report from Forbes that essentially said our gov't is the next to declare bankruptcy. If someone can explain how to get it from my e-mail to this forum I'll share it with yall. And yet, the houses keep popping up all over TV... go figure.

Originally Posted by JUREK

Is it true that the Co's from Freddie and Fannie have joing Osamas financial team ?

that was RUDE....

and his NAME is Obama! Not Osama....whether it was meant as a joke. It was wrong. IMO!

To: undisclosed-recipients


All,
See http://www.forbes.com/forbes/2008/0929/034_print.html

The Dow Jones industrial average plummeted more than 500 points — its worst session since the days after the Sept. 11, 2001 terrorist attacks.

Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future. "There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes.

Today -- when 148-years-in-business investment firm Lehman Brothers has gone bankrupt, and it's the biggest bankruptcy in history.

Today -- when investment firm Merrill Lynch, tetering on disaster, had to be rescued from a similar fate by Bank of America. Merrill Lynch had net losses of more than $17 Billion this year.

Phil Gramm, who was co-chair of McCain’s campaign, is not just another lobbyist. He is the man most responsible for the repeal of Depression-era banking regulations that have led directly and inextricably to much of today’s economic turmoil, and parlayed that classic example of legislative legerdemain into a lucrative lobbying career for the very people who scratched the smug Texan’s back — as well as McCain’s — on Capitol Hill. Gramm was the biggest of the big guns behind the 1999 repeal of the banking regulations — the Gramm-Leach-Bliley Act — which was officially called The Financial Services Modernization Act. Passage of the law was greased with an astonishing $300 million in lobbying money, and it encountered little opposition other than from those old-fashioned banks that actually insure your deposits. One of many consequences of the repeal was that a year later the Swiss bank UBS gobbled up brokerage house Paine Weber. A year after that, Gramm settled in as a vice chairman of UBS’s new investment banking arm and has since energetically lobbied Congress, the Federal Reserve and the Treasury Department on banking and mortgage issues. This has included rolling back state rules that sought to stem the rise of predatory tactics used by lenders and brokers that led directly to the subprime mortrage meltdown, which cost USB more than $19 billion in writedowns and the prospect of massive job cuts. We can be certain that even more wrack and ruin will be in the offing with a McCain presidency. This includes more of the Rich Come First economic voodoo that the Bush administration has visited upon Main Street while Wall Street investment banks got fat and happy until their greed bit them in their collective ass and they had to come begging for taxpayer bailouts. Which of course they are getting, no (serious) questions asked. Considering the pain and suffering that Gramm’s masterwork has caused ordinary Americans, it is not hyperbolic to say that he is a terrorist, he just doesn’t wear funny looking headgear and carry a Kalashikov.

Today, John McCain said once again, "… still, the fundamentals of our economy are strong."

John McCain lives a lavish super-rich lifestyle on his wife Cindy's secret 100 million dollar fortune! He won't tell the American people exactly how rich she is, but his own tax returns give a sneak peak. Now this is a true elitist life-style with servants, care-takers at some of his reported 8 homes, and personal assistants.

McCain reported paying $136,572 in wages to household employees in 2007. Aides say the McCains pay for a caretaker for a cabin in Sedona, Ariz., child care for their teenage daughter, and a personal assistant for Cindy McCain.

I have seen market declines inthe past, and this is a bad one for sure. The market seems to always recover with time. There is no way to know how long it will take and how much damage this will cause in the meantime. The only bright spot I see at the moment is road construction is strong. Other types of job growth is weak and housing stinks. All this and high oil prices.

It's going to take a while to work out I'm afraid.

But I don't believe the sky is falling.