posted on Oct, 9 2008 @ 05:08 PM
NO one wants the economy to crash. we all are scared as hell to what is coming down the pike at us at the speed of light. However Grim you want to
prop up the broken system when they should have done that 14 months ago when the sub-prime mess started. we're at the 2 minute warning of the 4th
quarter of the football game and the other team has the ball.
Everything that the Fed and the treasury has done so far to prop up the broken system has only sped up the fall. all the wall street talking head
"experts" are saying this is the worse decline since the great depression.
if you figure in the whole unemployment rate not just the official first time filers, the unemployment rate would be way over 6.1% that it is now
with just the first time filers for the last 9 months.
The system that your pushing to fix is broke has been broke since the late 80's. no one has even tried to fix it. in fact they keep taking out the
oversight and regulations.
you say the bottom is 7500 on the dow and it will rebound you do realize that is only 1079.19 points from todays close. do you honestly think that by
monday the dow won't be close to 7000.
The moral of the story is the market is retracting, the economy has slowed, unemployment is through the roof, i read an article earlier on bloomberg
that is saying the recession that the experts say we just entered will be severe, and will last until at least 2010. everyone here knows we have been
in a recession for awhile now.
all the indicators are saying depression except our GDP so i'd say at the very least we are in a mild depression right now, 15 states are close to
bankruptcy and its only going to get worse. you can throw all the money in the world at the U.S. economy right now nothing is going to stop this train
wreck until we are near the bottom of, or threw the basement floor.
we all see the writing on the wall and we don't like what it says and we know the system has to be changed. but we are powerless to change the system
until the system comes crashing down.
Then there are people like you that are either blind and can't see the writing on the wall or you just don't want to accept it. So you tow the
government line saying we need a bailout that more than likely won't work. its already failed on one of its purposes. it was suppose to calm the
markets since rescue was on the way. we all see how well that worked.
you want the government to have more control over your money then fine, you send them your paycheck, i'd like to keep as much of mine as i can so i
can finish stocking up on supplies for when the SH#T really hits the fan.
on a side note about the bailout most of the money for it will come from the sale of T-Bill and the like that are guaranteed by the government but
we'll be stuck paying the interest on those bills.
[edit on 10/9/2008 by Mercenary2007]
[edit on 10/9/2008 by Mercenary2007]
[edit on 10/9/2008 by Mercenary2007]