Wall Street and the US Economy

[Hawkeye]

Look for a bounce back today in the market from yesterdays cluster fk. No, it's not based on Bush's little $150B stimulus package which will go mostly for more food stamps and one of those measly $300 checks to the lower middle class households. Like that's gonna turn anything around. Where's the $150B coming from anyway, your kids and grandkids? LOL, what a damn idiot.

No, the reason is that many sector's industry have nothing to do with crooked predator bankers and the housing bubble burst, and have been beat down in the market without an inkling of sound reasoning.

Starting today, these other sectors, most all of whom are major global players, start reporting earnings. We're finally out of the overpriced, junk selling retailers for the most part. While our economy may be sucking as the results of poor foreign policy and unsound monetary judgment, the rest of the industrialized world's economy is firing on all cylinders.

[countrygirl]

Any ideas on the proposed tax rebate? Hmmm...Probably the middle class will be left out of it again..., and all they will do is print more money to do it with without cutting government spending.

[Hawkeye]

It seems aimed at lower income and welfare brackets as that's who spends it as fast as they get their hands on it. Lower middle class and up will take any money received and either pay down CC debt or stash it, which is said would be self-defeating so far as putting more money into circulation.

To me this seems like a band-aid on a myocardial infarction.

[Hawkeye]

found this article this morning which seems to cover both sides of the argument pretty well.

Foreign countries buying stakes in American companies at record pace:

http://www.nytimes.com/2008/01/20/business/20invest.html?ei=5065&en=a9653dd7c70ac837&ex=1201410000&partner=MYWAY&pagewanted=print

[Hawkeye]

At this just hunky-dorry? SHT!!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://www.marketwatch.com/news/story/stock-futures-pointing-sharp-losses/story.aspx?guid=%7B9A894790%2D5D69%2D48C6%2D8303%2 D18EE41CA5D1C%7D

[Hawkeye]

As predicted, the market is tumbling, today. It's a great day to bottom fish if you aren't scared of stink bait.

Bush's little stimulus package is BS, too little, too late. No really, it's his stupid endless credit spending monetary policy.

"Course being an oil man, he's inking plenty.

[Queen Mother]

Tumbling is an understatement, Hawk - You think it might be a landslide? Foreign markets tumbled overnight. This ain't looking good at all.

[TheCapitalist]

found this article this morning which seems to cover both sides of the argument pretty well.

Foreign countries buying stakes in American companies at record pace:

http://www.nytimes.com/2008/01/20/business/20invest.html?ei=5065&en=a9653dd7c70ac837&ex=1201410000&partner=MYWAY&pagewanted=print

Must think we're still a good bet. I'm sure they don't intend to thow money at us to lose it.

[threekidspa]

Perhaps. On the other hand, maybe they are thinking that its an investment in our defeat that they'll have to make anyway, either through paying via manpower and materiel, or through some market manipulation. Either way, they achieve their goal. This way, the look a little cleaner? I dunno...just sayin.

[Hawkeye]

Well, today the market is trying to break out of negative territory on anticipation of yet another fed rate cut. Lawsy, at this pace, prime interest rate to banks will be 0%, which understandably is about what the USD is worth.

It'd be a great time to take out a loan if the damn lenders would pass this discount down the line and actually loan some money at a fair rate.

Has anyone secured a home mortgage or business loan lately? What's the local going rate for AAA borrowers?

[Hawkeye]

Here's a great example of how screwy the market is and what happens when one company controls the so-called free market in its sector. do you see the irony in this? Is this why wholesale beef shot up 30% yesterday?

A company reports this kind of loss, yet the share price goes up? WTF?

http://www.bloomberg.com/apps/news?pid=20601103&sid=agBqc8Kmqb9Q&refer=news


And look at this contradictory crap,

http://www.cattlenetwork.com/content.asp?contentid=193759

[bpitt]

We hope to refinance at about the end of the year, maybe rates will be like 2.5 by then!

[TheCapitalist]

I'll have mine paid off in 7 years. Screw 'em. They won't make any more off me!!!

[Hawkeye]

The Fed cut another .5% today. The market temporarily rallied up 1% after the 2:15 PM CDST and then retreated back into neg territory before closing. This market will e doo-doo for average investors until some serious shat gets straightened out. It very well may get a hell of a lot worse before it gets better. Even those super safe mutual funds aren't worth a crap these days.

[dreamhippy]

Gold is still going up! Ron Paul knows that setting a "Gold Standard" would see us through these tough times.

[Hawkeye]

I hope none of you are heavy on Google (GOOG) this morning. Down over $50 per share on Microsoft bid to Yahoo.