Things are so bad in England people are trying to escape any way they can.

In 1929 the mrkets dropped 90% after an era similar to ours in which leverage, unbridled speculation and "No Rules, Dude" capitalism reigned supreme.

It took the markets 27 years to recover.

Hey, at least the Dollar is way up against the Euro. About the same as it was in September 2007.

But lets not talk about this and instead focus on a loose association to a former member of a terrorist group that bombed some buildings when Obama was 8.

That is much much much more important.

Perhaps the banks and lending companies, credit cards especially, should backtrack to where you actually went to the bank and talked with a loan officer for a loan. Credit cards have not done society any favors. They have caused many families personal problems, broken families up etc. There was a time when you had to actually qualify for a credit card and limits were set so you couldn't get into financial trouble. Having credit cards with $20,000 limits makes little sense but does help create financial problems for families. There used to be limits on what interest rate a credit company could charge (18% or less). Now the companies charge ridiculous rates of up to 30% or more. "Loan sharks" would charge 20% and were illegal. However the market was very stable and secure.

Who runs the world bank?

What country has traditionaly run the world bank?

And who appointed the its last two "leaders"?

I bet its not his fault!?

KBM,

Credit cards don't break up families. Families break up families.

Hey on a positive note I heard an advertisement to refi your mortgage and the bank is stating that your bad credit score will not count against you.

I am so glad that they have learned from their past mistakes.

Rebound?

This sucker is going down.

At this time, the central banks of the world are throwing worthless money into the fire.
Even now they are talking about backstopping all bank debt and deposits.

This is a full blown collapse. Tens of Millions of jobs and Trillions of dollars in savings (speculation) are going to evaporate over the course of the next year. Just to cover deposits in the U.S. commercial banks, at the $100k level, would require $4.7 TRILLION dollars.
What they are talking about now is in the area of $25 TRILLION dollars. Guess who pays for it?

YOU DO!

The dow will settle at roughly 2000. S&P 500 will no longer exist. The Nasdaq will be forced to merge into the nyse. Some 50% of all Incorporated business in this country will collapse.

'"We are fighting really dire fundamentals," said Gerhard Schwarz, an equity strategist at Unicredit in Munich.'

Why is this fucking kraut slandering the American worker?

The dow will settle at roughly 2000. S&P 500 will no longer exist. The Nasdaq will be forced to merge into the nyse. Some 50% of all Incorporated business in this country will collapse.

yikes.

Because the "American" worker has refused to stand for far too long. Pounded down for decades by those whom make no contributions, no production to anything other than their greed and authority.

This time, you'll have NO choice.
You will get hungry enough, you'll watch suffering in your family, that will be un-bearable.

You will fight because there is nothing left to do, but fight.

Oh, and to all those that are considered financial experts, economic experts: No, you are not. No such beast has ever existed.

Party on!

The dawn will come when Republicans are living in shelters and standing in food lines like they were in the 1930's.

This debacle has benefitted, maybe, 10,000 people worldwide and left 5 BILLION poorer.

Wake up.

Where are the Democrats going to be living and standing?

Where are the Democrats going to be living and standing?

They already are I guess.

:-(

This time, you'll have NO choice.
You will get hungry enough, you'll watch suffering in your family, that will be un-bearable.

you believe that?

and yet you are here blogging......

LOL

Bush is speaking now. What a fucking tool! I wouldn't trust this guy with loose change in my pocket. He watched over and supported the "cowboy capitalism" which has led to this shit show. For all you defenders of Bush and his admin...I hope this downturn in the mkt comes back to "y'all" in spades.

On the upside I'll be able to find a Nintendo Wii in stores!

8264.66 -314.53 (-3.67%) Oct 10 11:18am ET

"It's all so simple."
-Ronald Reagan

The bright side is that we all start scrounging for food the local deer and Canadian geese problem will be taken care of.....

Ok someone PLEASE educate Me on something. If it took more stocks/Dollars to equal the value of Stock/Dollars 10 Years ago does the recent downturn on Wall Street just means the stocks/Dollars are worth more or am I just not getting it??

Larry

Those trillions must have gone SOMEwhere. For openers, look into the pockets of the Bush-McCain backers, the AIG execs who gave themselves lavish weekends on OUR bail-out money. herm

Ok someone PLEASE educate Me on something. If it took more stocks/Dollars to equal the value of Stock/Dollars 10 Years ago does the recent downturn on Wall Street just means the stocks/Dollars are worth more or am I just not getting it??

Larry

#21 | Posted by LarryMohr at 2008-1

yeah me too

I want to know how in all of this the dollar is gaining in strength

is it because noone is using it or what????

of course one thing I do believe is happening

people are taking thier money out of the market after seeing polls that we might have a european socialist in the white house AND a democrat congress where corportate taxes would fly higher and higher and capital gains taxes would almost double and they want thier money now because if they wait the taxes will be a lot higher.......

and all you have to do is read the times I believe it was

headline...........the end of capitalism???

that has to make many leftist here about ready to slobber with the prospect

I want to know how in all of this the dollar is gaining in strength

#24 | Posted by bushlovertwo

Well BLT that is the most thoughtful sentence I've ever seen you compose on DR. Its a good question. Typically your follow up is horse shit, but its a start...

What happens when a company lays off a bunch of its employees? Its value goes up.

Stocks are like employees of the dollar possibly? After all when the market crashes and billions of dollars are no longer in circulation the dollar gets a boost.

Its amazing to watch gold go down today as well.

Its expensive entertainment.

your first sentences were liberal jibberish but I am glad to get some sort of answer from you

so its value goes up? is that because they dont have as much overhead in salaries and benefits and such???

so I would guess then you would tell me that this in turn is why price of gas is going down.......
I was told that the dollar was why it went up so it must mean the opposite........true?
untrue?

that has to make many leftist here about ready to slobber with the prospect

#24 | Posted by bushlovertwo at 2008-10-10 02:17 PM | Reply | Flag:

Lis, lis, lis, LISTEN up her BLT. I've been slobbering ever since I was a baby and I still am.

YUP,

NULLandVOID (aka Billy'O'Crap'O')

As John McSame seeks to incite his audiences to rage and anger, perhaps homicidally, at the Democratic candidate, I feel equally angry - cold, unyielding, bitter hostility - toward our so-called "president" for deliberately creating this costly assault on my retirement savings. herm

The Democrats made the markets go down?

The collapse in housing prices and the realization that all those derivatives are worthless and the banks can't lend money has nothing to do with it, huh?

We had Clinton in the White House and the market went up 233%.

We had Bush in the White House and the market is in negative territory after 8 YEARS.

Stricyly out of self-interest I am voting Dem.

This has all been timed just before the election so that the JP Morgans of this world will own everything and the Government can be dismantled.

Let's blame Nancy! She screws everything up. LMAO

Hummmmm..... conservatives crying SOCIALISM!!!! when referring to help for the needy...... then what do you call it when the Feds are a major stockholder in the banking industry? Say it ain't so Chimpy!

Barack Obama blames President Bush and Sen. John McCain for financial events happening in Wall Street, in downtown Manhattan Island in New York. During the next debate, Obama should also charge them for being culpable for the burden of the United States having to own said island. Many revolutions around the sun by the earth ago, some members of that section, lived behind the wall, which later became the famous street. Hell, those Wall Street members of that time, purchased, for about $23.00 worth of beads and mirrors that silly land. Bush and McCain then thus are guilty of all shenanigans that occur, not only from Wall Street, but the entire island. And that includes the death of that poor chicken that died in the Theresa Hotel in Harlem at the hands of Fidel Castro during his visit there once upon a time. Poor chicken, he never had a chance. He made headlines when he was merciless plucked by Fidel. This injustice should be protested by those naked ladies from P.E.T.A. in favor of Obama, at his next political event.

The dollar is getting stronger because those foreign dollars are now being printed faster than the U.S. dollar.

They are trying to save their markets too.

There are too few dollars in too few peoples hands and those people who have the dollars are removing their investments because there is no assets backing the dollars here, we traded the assets away for cheap labor.