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Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #512387
09/29/08 01:55 PM
09/29/08 01:55 PM
Joined: Jul 2001
Posts: 22,902
New York
SC Offline OP
Consigliere
SC  Offline OP
Consigliere

Joined: Jul 2001
Posts: 22,902
New York
The Dow is taking a dive today. eek


.
Re: What the F*ck is Going On With the Economy? [Re: SC] #512391
09/29/08 02:12 PM
09/29/08 02:12 PM
Joined: Jul 2001
Posts: 22,902
New York
SC Offline OP
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SC  Offline OP
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Joined: Jul 2001
Posts: 22,902
New York
The House voted down the bailout bill.... looks like the market is gonna take a BIG hit today.


.
Re: What the F*ck is Going On With the Economy? [Re: SC] #512409
09/29/08 03:19 PM
09/29/08 03:19 PM
Joined: Aug 2004
Posts: 2,854
Milky Way
Enzo Scifo Offline
Underboss
Enzo Scifo  Offline
Underboss
Joined: Aug 2004
Posts: 2,854
Milky Way
This thing is happening all over the world: In Belgium 2 of the 3 biggest banks lost 23% and 30% of stock market value, the worst in 12 years.

This after the news that the governments of Belgium, The Netherlands and Luxemburg bought 11 billion worth of shares to aide those 2 banks.


Quote
See, we can act as smart as we want, but at the end of the day, we still follow a guy who fucks himself with kebab skewers.
Re: What the F*ck is Going On With the Economy? [Re: Enzo Scifo] #512410
09/29/08 03:21 PM
09/29/08 03:21 PM
Joined: Jul 2001
Posts: 22,902
New York
SC Offline OP
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SC  Offline OP
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Posts: 22,902
New York
I just saw that the Central Bank (in Europe) is doubling the amount of cash available to all banks.

The Dow Jones is now down 650 points with about 40 minutes before trading ends today.


.
Re: What the F*ck is Going On With the Economy? [Re: Sicilian Babe] #512413
09/29/08 03:38 PM
09/29/08 03:38 PM
Joined: Jul 2001
Posts: 7,361
Don Sicilia Offline
Don Sicilia  Offline

Joined: Jul 2001
Posts: 7,361
Originally Posted By: Sicilian Babe
Thank you for your kind words, Olivant. If I was going to retire next month, though, and my 401K just went down the crapper (as they all pretty much have), my response may not have been so calm and far-sighted. lol


I'm glad we look at things long-term or else I'll be really, really ill right now... instead of just really ill.

Re: What the F*ck is Going On With the Economy? [Re: SC] #512415
09/29/08 03:42 PM
09/29/08 03:42 PM
Joined: Dec 2001
Posts: 2,907
Born on the Bayou
Saladbar Offline
Underboss
Saladbar  Offline
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Posts: 2,907
Born on the Bayou
Originally Posted By: SC
The House voted down the bailout bill.... looks like the market is gonna take a BIG hit today.


Many of the Democrats and Republicans who voted against it were those facing re-election and received enormous numbers of calls from their constituents pleading with them to not vote for the bill. People have lost site of what is at risk; standing on ideology largely communicated as nothing more than spin.

We are not bailing out Wall Street fat cats. We are doing what is necessary to keep our economy from imploding and hurting millions of Americans.


"Patriotism is supporting your country all the time and your government when it deserves it"
Re: What the F*ck is Going On With the Economy? [Re: Saladbar] #512419
09/29/08 03:51 PM
09/29/08 03:51 PM
Joined: Jul 2001
Posts: 22,902
New York
SC Offline OP
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New York
Originally Posted By: Saladbar
Many of the Democrats and Republicans who voted against it were those facing re-election and received enormous numbers of calls from their constituents pleading with them to not vote for the bill. People have lost site of what is at risk; standing on ideology largely communicated as nothing more than spin.


What SHOULD be done and what IS being done are often two vastly different things. Today is a perfect example.

The market has rebounded somewhat in the last 20 minutes but looks like it will still close about 600 points down.


.
Re: What the F*ck is Going On With the Economy? [Re: SC] #512420
09/29/08 03:59 PM
09/29/08 03:59 PM
Joined: Dec 2001
Posts: 2,907
Born on the Bayou
Saladbar Offline
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Saladbar  Offline
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Born on the Bayou
People think it's just about BAD banks. But if something isn't done, good companies can't get loans and will layoff. Good companies with NO mortgage issues (Honda, Caterpillar) are paying usuarious rates for cash, and that market FROZE a couple weeks back. And the only stop has been the promise of this plan. No lending, means they can't make payroll and will have to layoff.


Come on people, think of the big pic. And, yes, monkey must be flying out of my butt because I'm with Bush on this one!!


"Patriotism is supporting your country all the time and your government when it deserves it"
Re: What the F*ck is Going On With the Economy? [Re: Saladbar] #512421
09/29/08 04:08 PM
09/29/08 04:08 PM
Joined: Jul 2001
Posts: 22,902
New York
SC Offline OP
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Posts: 22,902
New York
Originally Posted By: Saladbar
Come on people, think of the big pic.


This bi-partisan shit MUST stop!! The finger pointing and name calling is total bullshit. We have more important things to worry about.

The Dow is now down 738 points.

I'm really afraid of a panic now.


.
Re: What the F*ck is Going On With the Economy? [Re: SC] #512424
09/29/08 04:48 PM
09/29/08 04:48 PM
Joined: Oct 2004
Posts: 13,145
East Tennessee
R
ronnierocketAGO Offline
ronnierocketAGO  Offline
R

Joined: Oct 2004
Posts: 13,145
East Tennessee
778

Fuck...

Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #512426
09/29/08 04:56 PM
09/29/08 04:56 PM
Joined: Dec 2006
Posts: 5,528
In a van down by the river!
Longneck Offline
Longneck  Offline

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Posts: 5,528
In a van down by the river!
You know what? Let the economy implode, fuck it. I've been poor all my life, I've lived without running water and electricity, we'll all be fine. I don't want to bail out banks because they made predatory loans and bad decisions! No one has bailed me out. No one has bailed out the struggling families and small businesses. Fuck banks.




Long as I remember The rain been coming down.
Clouds of Mystery pouring Confusion on the ground.
Good men through the ages, Trying to find the sun;
And I wonder, Still I wonder, Who'll stop the rain.

Re: What the F*ck is Going On With the Economy? [Re: Longneck] #512432
09/29/08 05:45 PM
09/29/08 05:45 PM
Joined: Feb 2003
Posts: 15,029
Texas
O
olivant Offline
olivant  Offline
O

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Texas
Long, you need to do some homework. Few people on this Board understand the financial threads that weave their way through the US economy that originate on Wall Street.

Misery loves company. You're poor? You're poor as you define it. It can be alot worse. Try homeless without any electricity and water on the horizon. That will be what alot of Americans (alot of them) will experience if credit dries up, if people are afraid to invest in capital creation or business expansion. You ought to talk to someone who lived through the Depression. There aren't many left anymore, so hurry.


"Generosity. That was my first mistake."
"Experience must be our only guide; reason may mislead us."
"Instagram is Twitter for people who can't read."
Re: What the F*ck is Going On With the Economy? [Re: Longneck] #512437
09/29/08 05:54 PM
09/29/08 05:54 PM
Joined: Dec 2006
Posts: 5,528
In a van down by the river!
Longneck Offline
Longneck  Offline

Joined: Dec 2006
Posts: 5,528
In a van down by the river!
Originally Posted By: olivant
Try homeless without any electricity and water on the horizon.


Originally Posted By: Longneck
I've lived without running water and electricity,




Long as I remember The rain been coming down.
Clouds of Mystery pouring Confusion on the ground.
Good men through the ages, Trying to find the sun;
And I wonder, Still I wonder, Who'll stop the rain.

Re: What the F*ck is Going On With the Economy? [Re: olivant] #512440
09/29/08 06:09 PM
09/29/08 06:09 PM
Joined: Aug 2003
Posts: 4,512
Right here, but I'd rather be ...
long_lost_corleone Offline
Underboss
long_lost_corleone  Offline
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Right here, but I'd rather be ...
Originally Posted By: olivant
Long, you need to do some homework. Few people on this Board understand the financial threads that weave their way through the US economy that originate on Wall Street.

Misery loves company. You're poor? You're poor as you define it. It can be alot worse. Try homeless without any electricity and water on the horizon. That will be what alot of Americans (alot of them) will experience if credit dries up, if people are afraid to invest in capital creation or business expansion. You ought to talk to someone who lived through the Depression. There aren't many left anymore, so hurry.


You're probably going to get shanked when when the anarchists strike tomorrow.


"Somebody told me when the bomb hits, everybody in a two mile radius will be instantly sublimated, but if you lay face down on the ground for some time, avoiding the residual ripples of heat, you might survive, permanently fucked up and twisted like you're always underwater refracted. But if you do go gas, there's nothing you can do if the air that was once you is mingled and mashed with the kicked up molecules of the enemy's former body. Big-kid-tested, motherf--ker approved."
Re: What the F*ck is Going On With the Economy? [Re: Longneck] #512446
09/29/08 07:10 PM
09/29/08 07:10 PM
Joined: Aug 2001
Posts: 2,716
Graveyard
The Iceman Offline
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The Iceman  Offline
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Originally Posted By: Longneck
You know what? Let the economy implode, fuck it. I've been poor all my life, I've lived without running water and electricity, we'll all be fine. I don't want to bail out banks because they made predatory loans and bad decisions! No one has bailed me out. No one has bailed out the struggling families and small businesses. Fuck banks.


Real nice attitude there Longneck but since you have children(I'm assuming, yeah I know what they say about assumptions)you might want to rethink your attitude.

Now I'm not saying that the banks are completely blameless here, but at the same time blame also goes to the idiotic citizens who took out these outrageous loans, in the first place. People need to pay better attention to their finances, if they would then they would not be going after loans they can't pay back. And thus the banks wouldn't have made those loans in the first place.

But hell most of the blame goes to the freakin democrats in the first place.


Re: What the F*ck is Going On With the Economy? [Re: The Iceman] #512458
09/29/08 07:33 PM
09/29/08 07:33 PM
Joined: Oct 2004
Posts: 13,145
East Tennessee
R
ronnierocketAGO Offline
ronnierocketAGO  Offline
R

Joined: Oct 2004
Posts: 13,145
East Tennessee
Originally Posted By: The Iceman
But hell most of the blame goes to the freakin democrats in the first place.


Why?

Hell, last I checked, 60+ Democrats and 1/3rd of the GOPers voted against the bill.

They both fucked up.

Really, I'm in mood for partisan politicking today after that bullshit this afternoon, which was done simply to stick it to the other side...

Last edited by ronnierocketAGO; 09/29/08 07:37 PM.
Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #512459
09/29/08 07:41 PM
09/29/08 07:41 PM
Joined: Oct 2004
Posts: 13,145
East Tennessee
R
ronnierocketAGO Offline
ronnierocketAGO  Offline
R

Joined: Oct 2004
Posts: 13,145
East Tennessee
Does the Financial Crisis Threaten Your Job?

In his testimony last week, the Federal Reserve chairman, Ben Bernanke, warned that the sharp rise in the cost of short-term credit, and the corresponding difficulty that companies and individuals face if they want to obtain a loan, pose “a direct threat to economic growth.” Just as important for most Americans is the threat to their jobs. What does the credit crunch mean for job growth? Is your job in jeopardy?

As I explain below, this financial crisis is likely to threaten middle- and upper-income jobs to a greater extent than has been the case in past recessions.

There is little doubt that the crisis has already hurt job growth. The unemployment rate has climbed from 5.1 percent when Bear Stearns was taken over by JPMorgan Chase with the Fed’s help in March 2008 to 6.1 percent last month. And the unemployment rate is likely to rise further — and remain high for a considerable period after the financial crisis subsides and economic growth resumes.

Obviously, jobs in the banking, finance, construction and residential real estate sectors will take a direct hit because the problem started with a bubble in home prices. But the damage is likely to spread to other sectors. Industries that rely on customers who use credit to buy their goods are especially vulnerable. Thus jobs in durable goods manufacturing — such as autos, heavy household appliances and business equipment — are likely to be hit hard.

Historically, most downturns have hit the least-skilled the hardest, as employers hold on to workers with unique skills who would be expensive to replace. This downturn, however, is likely to be more democratic than the norm because of the severity of the credit crunch. Research indicates that employers hire relatively more skilled workers when they invest in new plant and equipment, especially high-tech information and computing equipment (the so-called “capital-skill complementarity” hypothesis). If funds for investment are not available because of the financial crisis, however, companies will hire fewer skilled workers.

Consistent with this prediction, initial signs indicate that the employment shock has been felt more by college graduates than by those with a high school degree or less. The seasonally adjusted share of college graduates who are employed fell by 1.6 percentage points from March to August 2008, while the share of high school graduates and high school dropouts employed rose by 0.6 and 0.2 percentage points, respectively. (See chart below.)

What does this mean for you? Even in the best of times the United States labor market is highly volatile, with millions of jobs being created and destroyed each month. But just because your job may have been safe in past downturns does not mean it will be secure this time. Key questions you should ask are: Does your company need investment funds to upgrade plant and equipment to compete with other companies? Do your customers rely mainly on credit to buy your product or service? Do you do business with companies that are hard hit by the financial crisis? If your answers to these questions are yes, your job is more likely to be at risk.

http://economix.blogs.nytimes.com/2008/09/29/does-the-financial-crisis-threaten-your-job/

Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #512461
09/29/08 07:52 PM
09/29/08 07:52 PM
Joined: Oct 2004
Posts: 13,145
East Tennessee
R
ronnierocketAGO Offline
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Joined: Oct 2004
Posts: 13,145
East Tennessee
Here's the Roll Call of the vote today:

Democrats backed the bailout by 140 - 95 votes, or roughly 60% - 40%

Republicans opposed it by 133 to 65, or 67% - 33%.

So that is what, 40% of the Democratic Party revolting at Pelosi, and 66% of the GOP revolting at Bush.

Last edited by ronnierocketAGO; 09/29/08 07:52 PM.
Re: What the F*ck is Going On With the Economy? [Re: The Iceman] #512514
09/29/08 10:55 PM
09/29/08 10:55 PM
Joined: Aug 2003
Posts: 4,512
Right here, but I'd rather be ...
long_lost_corleone Offline
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Originally Posted By: The Iceman
Originally Posted By: Longneck
You know what? Let the economy implode, fuck it. I've been poor all my life, I've lived without running water and electricity, we'll all be fine. I don't want to bail out banks because they made predatory loans and bad decisions! No one has bailed me out. No one has bailed out the struggling families and small businesses. Fuck banks.


Real nice attitude there Longneck but since you have children(I'm assuming, yeah I know what they say about assumptions)you might want to rethink your attitude.

Now I'm not saying that the banks are completely blameless here, but at the same time blame also goes to the idiotic citizens who took out these outrageous loans, in the first place. People need to pay better attention to their finances, if they would then they would not be going after loans they can't pay back. And thus the banks wouldn't have made those loans in the first place.

But hell most of the blame goes to the freakin democrats in the first place.


This is crap.


"Somebody told me when the bomb hits, everybody in a two mile radius will be instantly sublimated, but if you lay face down on the ground for some time, avoiding the residual ripples of heat, you might survive, permanently fucked up and twisted like you're always underwater refracted. But if you do go gas, there's nothing you can do if the air that was once you is mingled and mashed with the kicked up molecules of the enemy's former body. Big-kid-tested, motherf--ker approved."
Re: What the F*ck is Going On With the Economy? [Re: Longneck] #512563
09/30/08 11:43 AM
09/30/08 11:43 AM
Joined: Mar 2003
Posts: 12,724
D
Double-J Offline
Double-J  Offline
D

Joined: Mar 2003
Posts: 12,724
Originally Posted By: Longneck
You know what? Let the economy implode, fuck it. I've been poor all my life, I've lived without running water and electricity, we'll all be fine. I don't want to bail out banks because they made predatory loans and bad decisions! No one has bailed me out. No one has bailed out the struggling families and small businesses. Fuck banks.


Amen.



Re: What the F*ck is Going On With the Economy? [Re: Double-J] #512805
10/01/08 01:08 PM
10/01/08 01:08 PM
Joined: Oct 2003
Posts: 19,066
OH, VA, KY
Mignon Offline
Mama Mig
Mignon  Offline
Mama Mig

Joined: Oct 2003
Posts: 19,066
OH, VA, KY
mad $3.47 for a 5lb bag of potatoes mad


Dylan Matthew Moran born 10/30/12


Re: What the F*ck is Going On With the Economy? [Re: Mignon] #512824
10/01/08 02:54 PM
10/01/08 02:54 PM
Joined: Sep 2008
Posts: 534
Lompac Offline
BANNED
Lompac  Offline
BANNED
Underboss
Joined: Sep 2008
Posts: 534
mad $1 for a DVD. mad

Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #512828
10/01/08 02:59 PM
10/01/08 02:59 PM
Joined: Feb 2005
Posts: 11,468
With Geary in Fredo's Brothel
dontomasso Offline
Consigliere to the Stars
dontomasso  Offline
Consigliere to the Stars

Joined: Feb 2005
Posts: 11,468
With Geary in Fredo's Brothel
Originally Posted By: ronnierocketAGO
Here's the Roll Call of the vote today:

Democrats backed the bailout by 140 - 95 votes, or roughly 60% - 40%

Republicans opposed it by 133 to 65, or 67% - 33%.

So that is what, 40% of the Democratic Party revolting at Pelosi, and 66% of the GOP revolting at Bush.


And 100% are simply revolting. lol


"Io sono stanco, sono imbigliato, and I wan't everyone here to know, there ain't gonna be no trouble from me..Don Corleone..Cicc' a port!"

"I stood in the courtroom like a fool."

"I am Constanza: Lord of the idiots."

Re: What the F*ck is Going On With the Economy? [Re: dontomasso] #512933
10/01/08 09:24 PM
10/01/08 09:24 PM
Joined: Mar 2003
Posts: 12,724
D
Double-J Offline
Double-J  Offline
D

Joined: Mar 2003
Posts: 12,724
Senate passes the bill.

Well, time to get ready for the big crash...



Re: What the F*ck is Going On With the Economy? [Re: Double-J] #512936
10/01/08 09:28 PM
10/01/08 09:28 PM
Joined: Apr 2002
Posts: 25,984
California
The Italian Stallionette Offline
The Italian Stallionette  Offline

Joined: Apr 2002
Posts: 25,984
California
Now I expect it'll pass, but how can you possibly know that now. I am supposedly watching it live and they are expecting an announcement, but I haven't heard them announce it yet. What's up with that? confused You ruined the ending. lol

Seriously, they haven't announced it passed yet.


TIS

Last edited by The Italian Stallionette; 10/01/08 09:28 PM.

"Mankind must put an end to war before war puts an end to mankind. War will exist until that distant day when the conscientious objector enjoys the same reputation and prestige that the warrior does today." JFK

"War is over, if you want it" - John Lennon

Re: What the F*ck is Going On With the Economy? [Re: The Italian Stallionette] #512941
10/01/08 09:38 PM
10/01/08 09:38 PM
Joined: Mar 2003
Posts: 12,724
D
Double-J Offline
Double-J  Offline
D

Joined: Mar 2003
Posts: 12,724
I watched it pass on CSPAN. It's live @ the Senate and Congress.

It's fun for us history loving dorks. tongue



Re: What the F*ck is Going On With the Economy? [Re: Double-J] #512958
10/01/08 10:00 PM
10/01/08 10:00 PM
Joined: Oct 2004
Posts: 13,145
East Tennessee
R
ronnierocketAGO Offline
ronnierocketAGO  Offline
R

Joined: Oct 2004
Posts: 13,145
East Tennessee
Originally Posted By: Double-J
I watched it pass on CSPAN. It's live @ the Senate and Congress.

It's fun for us history loving dorks. tongue


And now Rep. Jesse Jackson Jr., a major Obama supporter, is claiming that the next possible President is why the bailout bill finally passed.

and I think BULLSHIT.

I guess Obama gave him a good deal to spout such nonsense today?

"I won't cut your daddy's nuts off for his comments against me earlier this year." grin

Re: What the F*ck is Going On With the Economy? [Re: ronnierocketAGO] #513019
10/01/08 11:01 PM
10/01/08 11:01 PM
Joined: Feb 2003
Posts: 15,029
Texas
O
olivant Offline
olivant  Offline
O

Joined: Feb 2003
Posts: 15,029
Texas
Okay, so the Senate passed the rescue bill. But I'm not sure that it will pass the House.


"Generosity. That was my first mistake."
"Experience must be our only guide; reason may mislead us."
"Instagram is Twitter for people who can't read."
Re: What the F*ck is Going On With the Economy? [Re: olivant] #513025
10/01/08 11:05 PM
10/01/08 11:05 PM
Joined: Aug 2002
Posts: 17,300
New York
Sicilian Babe Offline
Sicilian Babe  Offline

Joined: Aug 2002
Posts: 17,300
New York
I'm keeping my fingers crossed for the opening bell tomorrow morning.


President Emeritus of the Neal Pulcawer Fan Club
Re: What the F*ck is Going On With the Economy? [Re: Sicilian Babe] #513037
10/01/08 11:21 PM
10/01/08 11:21 PM
Joined: Dec 2006
Posts: 5,528
In a van down by the river!
Longneck Offline
Longneck  Offline

Joined: Dec 2006
Posts: 5,528
In a van down by the river!
What the fuck? They added tax cuts along with it? Yeah, that'll help, not like the government needs that money or anything. It's only an extra 100 Billion...




Long as I remember The rain been coming down.
Clouds of Mystery pouring Confusion on the ground.
Good men through the ages, Trying to find the sun;
And I wonder, Still I wonder, Who'll stop the rain.

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