Wow, nice job on the reading comprehension there, tiger.

...after a disastrous economic collapse.

Of which one will happen regardless, except in one scenario we can get our dollar back to good standing and actually increase productivity and wages (aka if we didn't bailout and jacked up interest rates), along with getting the return of new investment banks.

Or we could do what we just did and keep the same banks that should've died afloat, made our purchasing power decrease, create more inflation. But now that it has passed I guess that is what we are faced with, so I shouldn't talk about what should've been done, so that's the end of that.

well, this monstrosity has been in existence for less than one day and it is failing. the dow closed down another 150pts. lovely. while i do still have faith in our system of government i have almost completely lost faith in the individuals invloved in it.

Wait, it passed? Damn.

That's what laws are for. With out laws, an economy cannot exist.



Ehh... no. Try using objective reading.

http://www.youtube.com/watch?v=u65V6ATo4rM

http://www.agorafinancial.com/5min/smells-like-pork-feels-like-tsushima-watch-this-sector-and-more/



Are you ****ing kidding me?

Yeah, the voted down the first one so they could pass on that's a million times worse. I hate our government.

Yes, they added provisions to sway specific people who voted no the first time around. For my representative, and probably a lot from the west, I think there's a tax break for solar power companies. And if the only way a representative can get the tax break or whatever they want is through this bail-out bill... how do you think they're going to vote?

It's bull**** and it should be illegal. It's bribery.

And it's the way politics has worked for hundreds of years. Sucks, don't it?

Hey I'm glad they passed it so that Wall Street would stop bleeding and the market would stop crashing OH SHI down another 600 today, huh?

Make sure you vote against any congress person who voted for the bailout. Regardless of party affiliation.

Hehe, I love hearing this reported on the radio by BBC News, something along the lines of "A multi-billion dollar financial plan was recently passed in the US, to help stabilise the world economy. A lot of Americans don't understand the current economic situation and are angered at what they see as a bailout for Wall Street bankers funded by taxpayers.". And then I come to this thread..

I wants my monies

I find it amusing too

The power structure doesn't educate people about what it does. Why would it? That would be a threat to itself. The education silence regarding America's fiscal system is by design. So before that smug wears off on you, realize that Europeans don't understand any more about the world's monetary system than Americans do (the divide is merely political bias).

This bailout bill will uphold the inexplicably corrupt status-quo although it doesn't matter how our politicians voted. The power structure gets what it wants.

so what is it exactly that we are not understanding about the current situation? is it the risky sub prime mortgages that banks should not have given out to people who had no business applying for them? or perhaps we dont understand how many of these loans are now being defaulted on now? or maybee we dont understand how banks often lend out 10 times more than they actually have and now these mortgages turning into toxic assets have left many lenders in the position of not knowing how much capital they actually have and because of that freezing lines of credit. or maybe we dont understand how these lines of credit being frozen cripples many businesses who need to take out small loans to be able to survive day to day. or are we not understanding how this translates into investors losing faith in companies ability to perform and thus selling off their stocks in said companies and causing the market to plunge drastically... is that what we are not understanding? or am i "confused" because i dont like the fact that the governments first reaction was "OH GOD THROW MONIES AT IT!!!"

I fully expect the economy to return to "normal" (as normal as is possible for our monetary system) now that the demanded ransom has been paid. No, the ransom wasn't 700 billion dollars—that went to pay off foreigners who bought worthless securites—it was a small provision buried deep inside the monstrous bill which repeals the reserve requirement.

My theory is that the banks aren't able to create enough money to keep up with debt under a 10:1 reserve ratio any longer. Since growth is exponential, the reserve requirement must be killed or we suffer drastically.

The Dow is down past 9,000, closing at 8,579.19. -37.95% so far this year.

Good thing we passed that bailout! What do you know, people are still worried about investing because they know the same ****ing banks that helped cause this in the first place are still around!

Riiiiight, because the bailout takes effect immediately. All the Treasury needed was the go-ahead and now it can wave its magic wand and fix the economy.

In this day and age, Grismath, if it can't be fixed in 0.5 seconds, it's ****ed. Duh.

Well, in this day and age, that's pretty much how fast it has to be fixed.

more like binancial failout.

It doesn't make sense why they would pump their own media full of panic-inducing drivel unless the recent fiscal events were engineered (or the fear is the catylist). Your thoughts?

Bush has the authority to declare martial law during an economic crisis.

If I citizen's arrest the president, do I get to be Caesar?

The bailout was intended to restore investor confidence. That IS something that can take affect immediately. It's been a week and people are still ****ting their pants because they are still too scared to invest. And now the FFR was even cut to 1.5%, and people STILL STILL STILL aren't investing because they are too scared because the same investment banks are still around.

At a FFR rate of 1.5%, EVERYONE should be investing, but they still aren't. That's not a good sign at all.

Should I invest?

Depends. Do you think the market has hit bottom yet? I don't.

Speaking of which, the dow just dipped below 8,000. Wheeeeeeeee

Yeah, I'm pretty sure it's not because the same investment banks are still around, seeing as none of the independent investment banks exist anymore...

Depends on your time horizon. If you need the money in a year or two, probably not. If you need it in five years or more, keep investing as the market goes down and hold on to it. Just stay away from companies you feel are on fundamentally unstable ground (if you feel this way, chances are others will, too). It will pay off big time later on.

And now the US Debt Clock has run out of digits...

http://news.bbc.co.uk/1/hi/business/7660409.stm

Welcome to last weekend.

Yay.

I wonder what they'll call this decade. The roaring oughts? The roaring double-zeros? Dammit why couldn't this have happened in another decade? On a more positive note, it looks like the Fed has gotten more competent at triggering depressions in the past century.

sweet!

Holy **** the dow just gained like 600 points in 5 minutes and it's on its way back down again. Coulda made a small fortune there

I think the whole situation is getting worse, I've that the UK's FTSE market has down 21%, thats apparently the worst for 30 years or something. Found it here:

http://news.bbc.co.uk/1/hi/business/7662572.stm

Worrying stuff.

apparently Iceland is going broke
http://www.iht.com/articles/2008/10/09/business/icebank.php