Comments on: A Crisis Of Financial Faith
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- Until the liars and crooks are shaken out of the corporations, and their books demonstrate the principles of good governance, no one will trust them, the market will continue to fall.
Also until the still shrinking middle class can feel reassured that their jobs won''t be further outsourced, and there will be an end to the downward pressure on their earnings, a wise public will curb spending, and so even well run companies that produce goods and services will have no one to sell to. - Reply to this comment
- Dear Congress,
Even if, I could myself, run up there to that reserve vault and fix it for you, I''d still have to admit it. According to "The State", all of those stock documents, are worthless. The only thing I''d get for it, is to hand over my paycheck to some judge, and hear him tell me how "this court...has so much higher ideals than that".
Good luck, Congress. Getting those "world powers" to believe your capable of response now, without their first believing both they and youselves wouldn''t have any way of knowing if you paid, won''t be easy.
First, you might "need" to figure out who your buying stock from. I''d tell you what would happen after that but, I don''t think it would be a good time for you to define "mistrust", they''ll do it well enough for you. And, now that I''m thinking of it, it would be against the law to anyhow.
I suppose it is legal to tell you, if you were to survive the exam, that by next week end, you too, will be waiting to get your NY court mail. The thought, might then occur, "Where did this guy get that cool, little plastic hammer?" Then you''ll realise the only "U.S Government Representitive" any of those "International bankers", have ever met, is that NY State Trooper that had his hand in their mailbox, and that judge with someone else''s little plastic hammer. Who, were bolth justly and preventitivly, educating them all, the great importance of waiting in line.
Please, have a pleasent Monday. - Reply to this comment
- The financial collapse is not a result of deregulation. It is a result of the government promising to back all the stupid investments. If investors were exposed to all their losses without government bailouts, they would not be such fools.
People are saying this is because of lack of regulation of a free market. There has not been a free market in America since 1913. No one has any idea what a free market would be like.
In free markets you do what you please and reap the consequences. Today''s markets have no consequences because the government is owned by the rich and they make the rest of us pay the consequences. We need more freedom and more consequences to keep people honest. Asking for more regulation plays into the hands of the rich who want complete control of your lives.
The government is a terrifying taskmaster. What kind of fools would ask to be its slaves? - Reply to this comment
- If your currency is backed by gold you don''t need faith in the government. The ONLY reason foreigners invested in our debt in the first place was because we destabilized the rest of the world to the point where they didn''t dare invest anywhere else. Now they have so much of our paper that they can''t stop lending to us for fear we won''t repay any of it. Nice scam, huh?
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- ---"Futures spiked up over 300 points tonight, but have since fallen below 200 up.....look for more tanking tomorrow after a brief rally to bankrupt the suckers.."---
Posted by singinrich
oh geez - I was feeling better about the market on Friday, but by today I was like whew thank goodness none of the orders I placed when through.
And then I went to check and one of them actually did go through, and you know what it doesn''t actually feel that bad once you get your feet wet again.
Everybody had this arbitrary number in their head that the market was going to tank to 8,000. So then it did.
But isn''t everybody sort of feeling like wow, everything''s undervalued only they''re waiting to make sure everybody else is feeling the same way?
You never know for sure, so so long as it''s just whatever you are willing to see go bye bye, maybe there''s benefit to keeping an eye open to the possibilities too . . . we''ll see :o - Reply to this comment
- Most Asian stock markets recovered in early trading Monday after last week''s historic sell-off as governments around the world intensified efforts to boost the ailing financial system.
In Australia, the S&P/ASX200 index was up more than 4 percent in response to a government plan to guarantee bank and other lender deposits for three years. The benchmark plunged over 8 percent on Friday, its biggest single-day fall ever.
Elsewhere, benchmarks in Singapore, South Korea and New Zealand gained more than 1 percent, while China and Taiwan stocks traded lower.
Japan''s market, where the Nikkei 225 tanked 10 percent Friday to close out its worst week in history, was closed for a public holiday.
The region''s markets showed signs of life after European nations agreed Sunday to temporarily guarantee bank refinancing and provide fresh capital to distressed banks as part of a host of emergency measures to help the credit markets. In the U.S., Treasury Secretary Henry Paulson called Sunday for coordinated, international steps to deal with the global financial crisis.
Wall Street futures indicated a sharp rebound ahead of the opening bell on Monday. Dow Jones industrials futures rose 235 points, or 2.8 percent, to 8,605. Standard & Poor''s 500 futures jumped 19.25, or 1.50 percent, at 1,309.00; and Nasdaq-100 futures added 22.10, or 2.48 percent, at 913.10. - Reply to this comment
- Whenever fiat-money (currency with no precious metal to back it) is allowed into an economic system, the temptation to print a great deal of it can''t be resisted. So the Federal Reserve (which is neither federal, nor does it have any reserves) slathers their Federal Reserve Notes about like toilet tissue, until they have no value at all. Therefore, you need many more of them to purchase things. That''s why it takes 300,000 Federal Reserve Notes to purchase a home that cost 100,000 Federal Reserve Notes five years ago. The house isn''t WORTH more, it just COSTS more. And when your paycheck doesn''t keep pace with "inflation", you''re toast. That''s what we have now for an economic system; lots and lots of toast.
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- Has anyone been following the European markets and the G7 decision to nationalize banking at least in part?
Will this finally get the governments in the world''s developed countries to take the bull (or in this case, the bear) by the teeth and figure out regulation that will make banking and investors not only responsive to social and economic indicators but responsible to and for the societies they are supposed to serve? - Reply to this comment
