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In a short time (perhaps as much as a couple hours) there is going to be a document posted regarding the situation we now face. We literally have 24-48 hours before complete Armeggedon world-wide. The stock market sell-off today was more than just 'confidence being lost'. Our credit markets are now completely seized up. As in stick a fork in 'em. This means every single company, pretty much anywhere on the planet, that relies upon funding its debt in the credit markets, will cease to exist. As in *POOF*. This means all commerce will stop. Completely. I'm pretty sure I don't have to elaborate on what comes after that.
Originally posted by JaxonRoberts
Just what we need now! Alfred E. Neuman to come out and tell us that he and his cronies have everything under control!
If you're not scared, you're not paying attention!
Originally posted by anachryon
Which gov't? The US gov't?
It hasn't held any legitimacy for, oh, 6 or 7 years now.
I'm calling for a 200 point drop on the Dow after Bush speaks tomorrow. Lately every time a public statement is made by any of the officials during trading hours, the market responds by pooping all over itself.
Originally posted by stander
The White House canceled the scheduled televised speech, but no reasons were given.
I can only guess what the reason was: Since you never know how the stock market reacts to anything the government says or does these days, it's better to stay silent.
Originally posted by anachryon
Washington Post
President Bush, who has said little publicly during this week's prolonged market dive, will make a statement about the crisis tomorrow morning in the Rose Garden, the White House said late today.
Press secretary Dana M. Perino said Bush will "assure the American people that they should be confident that economic officials are aggressively taking every action to stabilize our financial system."
"Americans should be confident that every effort is being taken to stabilize our markets," Perino said.
Oh, that's rich.