Don't believe the BS the media is shoveling to explain the stock market today.

[Nick Gromicko]

It was not a computer glitch. The market was tumbling and the Feds came in and bought to prop it up.

Gold... to da moon!

BTW: The story that a trader accidentally typed "b" for billion instead of "m" for million is nonsense. Orders are entered using the written out word for numbers.

[Nick Gromicko]

... and we'll see another big dip in stocks early Friday morning. It's going to be a mess by 10 am EST.

[John E. Mullarkey]

And if America keeps going down the Obama path we will soon be as bad as Greece. I always did want to see Australia.

[Douglas Wall]

Gold... to da moon!

I like that except yesterday I had to pay 1270 for 1oz gold Buffalos, if only Wed had not been so busy.

[Nick Gromicko]

Doug writes:

I like that except yesterday I had to pay 1270 for 1oz gold Buffalos, if only Wed had not been so busy.

Keep stackin' Doug.

[Michael Larson]

Originally Posted by gromicko

It was not a computer glitch. The market was tumbling and the Feds came in and bought to prop it up.

Gold... to da moon!

BTW: The story that a trader accidentally typed "b" for billion instead of "m" for million is nonsense. Orders are entered using the written out word for numbers.

The "fat finger" is BS but what ever started the plunge it was likely accelerated and deepened due to high frequency computer trading with no humans involved.

The market is a very scary and often rigged place.

Proceed with great caution.

[Douglas Wall]

Keep stackin' Doug.

Have been for a couple years now - retired in 1995.
This inspection business with 5 employees is our hobby, kids and grandkids will love it even more than the trips to Disney.
With new law, life is gooder

[lvass]

Originally Posted by jmullarkey

And if America keeps going down the Obama path we will soon be as bad as Greece. I always did want to see Australia.

Obama did NOT put us in the cash crash. BUSH put us in the cash crash. You may not agree with the fact he's trying to save our butts financially, but be honest about who put us in the hole. That person was Bush and his entire administration. No Thanks to the greedy money hogs who run the big banks.

[Michael Larson]

Originally Posted by lvass

Obama did NOT put us in the cash crash. BUSH put us in the cash crash. You may not agree with the fact he's trying to save our butts financially, but be honest about who put us in the hole. That person was Bush and his entire administration. No Thanks to the greedy money hogs who run the big banks.

This problem goes far beyond the just last two administrations but Obama is doing nothing to improve our situation by his massive and unprecedented deficit spending and debt accumulation.

Look at Greece and ask yourself if Socialism is the direction we want to go in this country.

[lvass]

Obama saved us from a repeat of the 30's crash and the banks did not hold up their end of the deal. Am I surprised, No. Obama is doing his best with the bucket of **** he was handed when Bush left. Is he perfect, No more then you or I. There are things I don't agree with either, but I'm not go trash him because we think he should have made more changes by now. Change takes time. Even building a house takes at the very least a week and that doesn't include all the time manufacturing the materials used to build it. True more could done, but its not going to happen over night.

[Michael Larson]

Originally Posted by lvass

Obama saved us from a repeat of the 30's crash and the banks did not hold up their end of the deal. Am I surprised, No. Obama is doing his best with the bucket of **** he was handed when Bush left. Is he perfect, No more then you or I. There are things I don't agree with either, but I'm not go trash him because we think he should have made more changes by now. Change takes time. Even building a house takes at the very least a week and that doesn't include all the time manufacturing the materials used to build it. True more could done, but its not going to happen over night.

That book hasn't been written yet.

During the '30's, the end of the recession/depression was declared several times.

They were wrong.

We are repeating many of the same mistakes made in the early 30's.

I wish it wasn't true but it is.

No one has ever borrowed their way out of debt and that is exactly what is being attempted.

[Gary Farnsworth]

Obama has saved nothing. It was congress that approved the billions in bail-outs. The national debt has been rising for decades, and some foreign countries who bought our debt years ago called it in to help bail out other countries (buddies), and themselves. This caused a major run on the federal reserve back in the fall of 2008. Bush had no choice, as did Obama, to ask congress for monetary bail-outs of hundreds of billions. Or, face bankruptcy for the U.S. Some banks failed, to cover the blame.

It is not only our economy that is fragile, but many others throughout the world. Our government should stand tall and help other countries more, but their head is elsewhere; health care, cap and trade, and satisfying their own political egos and agendas, all to take attention off of what is really happening.

[Michael Larson]

Originally Posted by gfarnsworth

Obama has saved nothing.

I disagree

He saved the unions(GM) while screwing the bond holders.

And look at all those state budgets he saved.

Of course that money(yours) is gone now and state and local governments will be forced to lay off workers and threaten to cut services or raise taxes.

I wonder if government workers will respond like Greece's.

[Nick Gromicko]

The past is spilled milk. Both Dems and Republicans voted to give Wall Street fat cats money the government didn't have. This recession would be over by now had we simply let these poorly run companies go under and had Barnie Frank not screwed up the free market to begin with, with his silly Federal guarantees of no-doc loans.

Our future problems, however, have everything to do with what is going on late tonight. Late tonight, just like every night, and every morning and every afternoon... Obama prints. He has printed about as much fake, paper money since becoming President as all other Presidents combined going back to 1776. Someone has to stop him before we become Zimbabwe.

Being off the gold standard permits him to keep printing and keep spending. The dollar is a total joke, propped up... but a dead man walking.

Gold... to da moon!

[Joseph Burkeson, CMI]

Last week's crash was most likely just a friendly warning shot across the bow from Goldman Sachs showing this administration what might happen if they continue to pursue their public investigation.

As former president Eisenhower once feared...We have created the monster known as the "Military Industrial Complex" which has become the unelected leader of our nation and will insure our destruction as a democracy.