Bailout Rejected

ToonaRockGuy · Post by **ToonaRockGuy** » Tue Sep 30, 2008 2:49 pm

I just put my money in a pillowcase. That goes into the safe that's buried in my backyard. No interest, but it's safe.

JackANSI · Post by **JackANSI** » Tue Sep 30, 2008 2:56 pm

You're still investing even if you're sleeping on it

You're playing the money market.

A savings account is way safer..

JackANSI · Post by **JackANSI** » Tue Sep 30, 2008 2:58 pm

Embrace the destruction people, there is no way to escape from it unless you are already so rich that you have not even noticed the price of gas in the last 3 years...

f.sciarrillo · Post by **f.sciarrillo** » Tue Sep 30, 2008 9:06 pm

The dow went back up 480 points today and oil went up 2.00 a barrel today.

Banned · Post by **Banned** » Tue Sep 30, 2008 10:14 pm

Wall Street Bailout = Karl Marx Proposal Number 5.

http://network.nationalpost.com/np/blog ... eback.aspx

JackANSI · Post by **JackANSI** » Tue Sep 30, 2008 10:40 pm

f.sciarrillo wrote:The dow went back up 480 points today and oil went up 2.00 a barrel today.

Care to speculate why? Could it be that your president is pushing hard for the bailout?

I hate when people suddenly stick their fingers in their ears and sing.

f.sciarrillo · Post by **f.sciarrillo** » Tue Sep 30, 2008 10:54 pm

JackANSI wrote:
f.sciarrillo wrote:The dow went back up 480 points today and oil went up 2.00 a barrel today.
Care to speculate why? Could it be that your president is pushing hard for the bailout?

I hate when people suddenly stick their fingers in their ears and sing.

I wasn't sticking my fingers in my ears and singing. I was simply stating what happen. I said yesterday that it will not stay down, and a smart person would have got in at that time. It going up today just proves my point. What happen made some investor rich and made another file for bankruptcy.

Also, Bush is not my President. I didn't vote for him

He is "OUR" President.

JackANSI · Post by **JackANSI** » Wed Oct 01, 2008 12:33 am

While I know a gain is a gain... its still not up 778 points...

But, the wider the swing, the wider the profits.

He's not my president.. I voted for the guy who won the majority..

f.sciarrillo · Post by **f.sciarrillo** » Wed Oct 01, 2008 12:55 am

No, it's not 778 points, but it is something. At least it didn't drop anymore today. That is a plus.

JackANSI · Post by **JackANSI** » Wed Oct 01, 2008 1:06 am

f.sciarrillo wrote:No, it's not 778 points, but it is something. At least it didn't drop anymore today. That is a plus.

Just hope we all don't get screwed on this...

lonewolf · Post by **lonewolf** » Wed Oct 01, 2008 2:01 pm

This is a fool's market right now. Volume is lowest I have seen in months. I am 70% cash, 20% bonds and 10% in a few stocks I bought at super-low prices on July 15. They are up significantly and I will probably sell them into any super-rally.

Pro traders who specialize in financials are not trading as long as the ban on shorting financials is in effect. This ban is scheduled to lift on Thursday (tomorrow). I think it will have more of an effect on financial stocks that this short-sighted "bail-out".

After last Monday's bloodbath, select financial stocks were still up to 50% higher than they were on the July 15 lows. Now they are at ridiculous levels and will probably be squashed by short selling as soon as the ban is lifted. Since financials are considered the leaders out of bear markets, they will drag the market down with them.

That might signal a buying opportunity.

I am glad that they raised the FDIC insurance limit to $250K...now there are enough different banks around here.

ToonaRockGuy · Post by **ToonaRockGuy** » Wed Oct 01, 2008 3:15 pm

The only money that I have in stocks is my employee purchase plan at work. WalMart stock is amazingly stable. I contribute from each paycheck, and I can cash it in whenever I want. Right now, it's trading at $60.08 per share. It normally ranges anywhere from $58-$64. Some days it's lower, some days it's higher, but I've been watching it carefully, and like I said, it's amazingly stable.

DirtySanchez · Post by **DirtySanchez** » Wed Oct 01, 2008 5:38 pm

JackANSI wrote:
Hawk wrote:About 33% of all the house Republicans voted for it.
About 60% of all the house Democrats voted for it.

Mostly - they are afraid to vote for it and then go home and campaign for reelection. If this comes up after the election is over - they would vote for it. It's not their collective morality that stopped the bailout - It's a fear of losing their elections.
And I say good.... Shows the people actually have some power once every few years...

Best post in the whole thread.

lonewolf · Post by **lonewolf** » Wed Oct 01, 2008 6:55 pm

http://www.youtube.com/watch?v=Eux_bzpJHiY

lonewolf · Post by **lonewolf** » Wed Oct 01, 2008 11:40 pm

ToonaRockGuy wrote:The only money that I have in stocks is my employee purchase plan at work. WalMart stock is amazingly stable. I contribute from each paycheck, and I can cash it in whenever I want. Right now, it's trading at $60.08 per share. It normally ranges anywhere from $58-$64. Some days it's lower, some days it's higher, but I've been watching it carefully, and like I said, it's amazingly stable.

I can't think of a better defensive stock right now, Kevin. Even if they don't pass the previously $700 billion bill (compromise=spend more money) and the bottom drops out of the market, WalMart is positioned to benefit from the downturn. Hell, they could end up the last store standing.

songsmith · Post by **songsmith** » Thu Oct 02, 2008 3:41 pm

Much as I hate to admit, I have to agree. As prices go up on our utilities (and therefore, everything else), we can afford less and less material stuff. This is America, and material stuff is muy importante, so we don't stop buying stuff, we buy cheaper stuff. Wallyworld has cheap stuff.
It's kind of sad and pathetic... when we made stuff here, we prided ourselves on buying our own stuff. When those manufacturing jobs went to the lowest bidder/totalitarian regime overseas, we went to work in the retail sector... at WalMart, selling the stuff from the people who got our jobs. Now the only stuff we can afford to buy is at... WalMart. If an entrepreneur invents a widget, he has to sell it where people can afford to shop... at WalMart. WalMart says, "Here's what we're going to pay for this widget. If you want to manufacture it, your only choice is to have it made by the lowest bidder/totalitarian regime, because if you don't, they'll copy your widget and make it for us, anyway. If it doesn't work out for you, you always have a job waiting here... at WalMart."
And stuff.

----->JMS

whitedevilone · Post by **whitedevilone** » Thu Oct 02, 2008 9:33 pm

Good Lord John we should write this shit down!

On this day the Oct 2 2008 Songsmith & WDO AGREED!!

Hawk · Post by **Hawk** » Sat Oct 04, 2008 11:46 am

It is really hard to imagine how much $800 Billion is. To make an attempt to put it in perspective, all of Manhattan is worth $8 Billion. So one could by the equivalent of 100 Manhattans !

JackANSI · Post by **JackANSI** » Sat Oct 04, 2008 4:33 pm

What bar are you going to that the manhattans are 8000000000 each?

Hawk · Post by **Hawk** » Sat Oct 04, 2008 4:36 pm

JackANSI wrote:What bar are you going to that the manhattans are 8000000000 each?

I just saw that on some TV show, totally unrelated to the topic. They said that Manhattan was purchased for $24 and now it's worth $8 Billion.

JackANSI · Post by **JackANSI** » Sat Oct 04, 2008 5:17 pm

wonder if they paid cash or got an adjustable rate mortgage?

Banned · Post by **Banned** » Sat Oct 04, 2008 7:54 pm

Ron Paul on the very unconstitutional bailout bill:

http://www.youtube.com/watch?v=WL-9CV-qbMw

bassist_25 · Post by **bassist_25** » Sun Oct 05, 2008 10:19 pm

songsmith wrote:Much as I hate to admit, I have to agree. As prices go up on our utilities (and therefore, everything else), we can afford less and less material stuff. This is America, and material stuff is muy importante, so we don't stop buying stuff, we buy cheaper stuff. Wallyworld has cheap stuff.
It's kind of sad and pathetic... when we made stuff here, we prided ourselves on buying our own stuff. When those manufacturing jobs went to the lowest bidder/totalitarian regime overseas, we went to work in the retail sector... at WalMart, selling the stuff from the people who got our jobs. Now the only stuff we can afford to buy is at... WalMart. If an entrepreneur invents a widget, he has to sell it where people can afford to shop... at WalMart. WalMart says, "Here's what we're going to pay for this widget. If you want to manufacture it, your only choice is to have it made by the lowest bidder/totalitarian regime, because if you don't, they'll copy your widget and make it for us, anyway. If it doesn't work out for you, you always have a job waiting here... at WalMart."
And stuff. ----->JMS

Sad, but true.

I don't know if The American Dream is dead, but it's sure as hell been downsized.

JackANSI · Post by **JackANSI** » Mon Oct 06, 2008 3:21 pm

The economy: