Will Monday morning repeat 1929?
All the item are in place but Roosevelt stopped the run on the banks by getting the FDIC act passed after many banks closed.
The act on short term buying and selling is now repealed.
The stock market that was dealing on margins now is dealing in short buying.
The $100,000 cap on FDIC in the Builders Savings and Loans has little effect when the average home cost if over $125,000.
There is talks of deleting the stockholders equity like Williams Communications did in Tulsa, changed their name and remained in the new city hall building that was added to the city portfolio .
They looking at the pension plans.
But to be secure one must think of the Golden Parachutes due the heads of government entitles and Corporate America making sure they are free standing by propping them up with uncollected billions from the lower classes.
Whirlpool pool is closing part of it production and setting up plants in Mexico.
But there is no way to ditherier this bouncing economy when after two letters from the IRS and a sample of how to request the Economic Stimulus Payment, written at the fourth grade level, which I was able to fill out the three blank parts, shortly I received the check. I suppose no one of the lower class should protest the million dollar golden parachutes being secured.
Will Monday morning bring the sunshine out or will it be a black Monday morning?
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Originally posted by shadows
Will Monday morning repeat 1929?
My opinion is no, not in the short term. I think the recent government actions will keep things semi-stable for now.
What really bothers me is the mounting, ever-growing U.S. national debt, and it will jump even more now. Currently, our federal government spends 20-30-40 percent or more, just for debt service. We can't afford to fix social security or provide decent health care for U.S. citizens, just waste billions on foreign wars and quick-fixes for the economy. At some point, buyers of U.S. government securities will severely question the government's ability to pay, and at that point our national economy will surely collapse, and perhaps lead to world-wide economic depression.
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Originally posted by Steve
quote:
Originally posted by shadows
Will Monday morning repeat 1929?
My opinion is no, not in the short term. I think the recent government actions will keep things semi-stable for now.
What really bothers me is the mounting, ever-growing U.S. national debt, and it will jump even more now. Currently, our federal government spends 20-30-40 percent or more, just for debt service. We can't afford to fix social security or provide decent health care for U.S. citizens, just waste billions on foreign wars and quick-fixes for the economy. At some point, buyers of U.S. government securities will severely question the government's ability to pay, and at that point our national economy will surely collapse, and perhaps lead to world-wide economic depression.
Good response, our government spending is OUT of control and our taxes/tax structure are insane. We need to modernize, simplify and fix our government.
I do not see great depression v2.0 in the future but we could see a protracted recession as a result of the turmoil in the financial sector. We could also see more wobbles in the stock market but I tend to think and hope we've reached bottom or at least gotten close.
I don't think we will see another 1929 unless we reset the calendar somehow.. [V]
If Paulson (new dictator) takes the short selling curbs off on October 2nd as promised, there will be a huge sucking sound.....
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Originally posted by EricP
I don't think we will see another 1929 unless we reset the calendar somehow.. [V]
Many countries including the Caesars have changed the calendar.
Now if the American Empire can pull 700,000,000,000 dollars, equal to a 2,000 dollars for every man, woman and child, out of a monetary void, surely they can turn back the calendar one would think.
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Originally posted by EricP
I don't think we will see another 1929 unless we reset the calendar somehow.. [V]
It's not that hard to fathom really. In fact we're scarily close right now...and based on what I'm seeing in the congress/senate this week we just may get there :(
I hope I'm wrong...but this whole problem is downright scary and the response from guys like Chris Dodd...even scarier.
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Originally posted by OUGrad05
quote:
Originally posted by EricP
I don't think we will see another 1929 unless we reset the calendar somehow.. [V]
It's not that hard to fathom really. In fact we're scarily close right now...and based on what I'm seeing in the congress/senate this week we just may get there :(
I hope I'm wrong...but this whole problem is downright scary and the response from guys like Chris Dodd...even scarier.
That's it.... make Dodd your scapegoat. It certainly was not the idea we need less government in our lives promoted by the repiglicans.