The Fed cut interest rates yesterday by 3/4th of a percent in an emergency session. They usually only cut rates by 1/4 percent, and it’s a big deal if they do that. We’re in big trouble. Here’s a neat video if you’ve got a few minutes.
The Dow took a major hit yesterday morning (within 5 minutes of trading being open it fell almost 500 points!!) Even with the outrageous cut, traders were actually happy to recover about half of that fall, by the close of session. This is a classis case of “holy shit gentlemen, we gotta scramble”, except with a generous helping of fail on their part. Too little too late and somewhat misguided
that scares me more then the thread about us all dieing.
my roommate up here is the commodities trader for the natural gas producer I work for. He says that we’re pretty much fucked unless someone does something drastic. He was a big Giuliani supporter until I showed him some shit about Ron Paul. He LOVES his economic policy and is now a supporter.
it should. They say this could be far worse than the market crash that started the great depression.
Good time to buy…
Eh…I think history has shown repeatedly that:
-In times of recession/depression, Keynesian policies work to recover the economy.
-In times of prosperity, fiscal conservatism (and, lower taxes) work to continue the boom.
That first quote is awesome, TJ was so smart.
“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
only problem with that is the government is the one that fucked the economy up this time. :hs:
I like Gerald Ford’s take on it:
“A government big enough to give you everything you want is a government big enough to take from you everything you have.”
And the Transformers score in the background, haha…I love it.
Looks like a good time to refinance for the 2nd time. That’s my glass-is-half-full view of the situation. My 401k glass is half empty though at the moment. Luckily(?) I’m not retiring anytime soon though, so I can ride it out.
I agree 100%…hell if you have extra $$ pump it into your 401K or other investments. This is the time to buy.
um… how would pumping your money into the stock market when it’s on the brink of collapse a wise decision?
x2
This is not the end of the world, the market will be fine. Look back when the market was worse in 03 if you would have bought a ton then you would have made a lot of $$ by now.
well hopefully it will rebound, but its going to go down a LOT more before it starts to come back up.
so wait till it just starts to come up and buy a shitload, it’s simple. 
holy shit, the market is taking a nose dive! BUY BUY BUY!!!
