Quotes of the day
posted at 10:40 pm on October 9, 2008 by Allahpundit
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“‘We’re in the middle of a very dark tunnel,’ said Brian Fabbri of BNP Paribas, referring to the worsening credit crunch. ‘Each day we see another crack in the system.’
Those cracks are quickly adding up. On average, the 52 economists surveyed now expect U.S. gross domestic product to contract in the third and fourth quarters of this year, as well as the first quarter of 2009.
This is the first time that survey forecasts for those periods have turned negative. If those predictions bear out, it would mark the first time U.S. GDP — the total value of goods and services produced — has contracted for three consecutive quarters in more than a half century. Economists put the odds of recession in the next 12 months at 89%, up from 60% in last month’s survey.”
*
“The British and American plans, though far from identical, have two common elements: injection of government money into banks in return for ownership stakes and guarantees of repayment for various types of loans…
The White House confirmed that the Treasury Department was considering taking ownership positions in banks as part of its $700 billion rescue package. But officials said the idea was less developed than the plan to buy distressed assets from banks through ‘reverse auctions.’
The goal, Treasury officials said, is a plan that would be broadly available to all banks, rather than through specific rescue packages negotiated on a case-by-case basis. That makes it likely that the government could afford to take only a small stake in any single institution.”
*
“We are all socialists now.”
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BO keeps saying that McCain wants to change the subject from the economy, but Mac is talking about it. But his Ayers comments are what gets on the news.
jgapinoy on October 9, 2008 at 10:42 PM
“We are all socialists now.”
(rips punching bag in half with fists)
Cardiganfox on October 9, 2008 at 10:44 PM
If you’re 58 and a few years from retirement, who will you trust to keep your money safe?
Mccain? or Obama?
Just that simple.
ANd McCain will win. Ohio. Wisconsin. Florida. Yes Michigan. Bank on it. 290EV minimum.
battleoflepanto1571 on October 9, 2008 at 10:45 PM
Doesn’t that say it all. No guiding philosophy, just close eyes and shoot.
Spirit of 1776 on October 9, 2008 at 10:45 PM
When he talks about Ayers at every step; and only mentions the economy at the town hall. What do you think will get the press?
When Palin -and- McCain start talking about the economy, democrat complicity and fannie mae in stump speeches, it’ll get the attention.
Currently, McCain is way too occupied with Ayers. It’s a fact.
lorien1973 on October 9, 2008 at 10:45 PM
I just saw my first Mccain commercial -this week- here in Florida.
I see about 20 Obama ads per day.
lorien1973 on October 9, 2008 at 10:46 PM
DRUDGE:
Isn’t this old news? Is there something more? Much more?
Nevermind, swing voters don’t give a —-.
toliver on October 9, 2008 at 10:46 PM
and yet, it’s basically a tie, if not maverick lean. says something about BO and the sr vote
battleoflepanto1571 on October 9, 2008 at 10:47 PM
Nope. They are welcoming their new socialist overlord.
lorien1973 on October 9, 2008 at 10:47 PM
The lefties want a revolution – we’ll give them one. The average Republican is 4 times as likely to own a gun as a Democrat plus the military is 4-1 Republican so I say:
BRING IT ON!
bill30097 on October 9, 2008 at 10:48 PM
They do, but their limited as to what they can say to a mob of conservatives or on talk radio. McCain doesn’t seem to know how to explain how tax cuts–especially those for the rich–help the economy, & his populism won’t play well to Palin fans.
jgapinoy on October 9, 2008 at 10:49 PM
theirthey’rejgapinoy on October 9, 2008 at 10:50 PM
Is he allowed to say ‘dark’ tunnel? Isn’t that racist or something?
shaken on October 9, 2008 at 10:50 PM
I’m almost enjoying this “crisis”. For a change we get to see who the real bad guys are and what complete idiots they are. There is nowhere for them to hide, and no amount a fast talk can get them off the hook or make it look like anyone else’s fault.
The good news is the price of oil and gas are down. The foreign markets have been been hit harder and the dollar is going up. Hugo Chavez is crying like a baby.
America has a very large an diverse economy, it will survive and prosper again. Let’s just not talk about my 401k.
Tommy_G on October 9, 2008 at 10:51 PM
Living up to the media caricature of conservatives.
jgapinoy on October 9, 2008 at 10:51 PM
Nor with anyone else, it seems.
lorien1973 on October 9, 2008 at 10:51 PM
Democrats will do that for you. They are talking about taxing 401k plans.
Ain’t that nice?
lorien1973 on October 9, 2008 at 10:52 PM
I believe the technical term is “spray and pray“.
Actually, reading the entry at the link is spooky in how accurate a description it may become of this bailout. Hopefully, it won’t…
batter on October 9, 2008 at 10:53 PM
They’re hhhhhhhheeeeeeeeeerrrrrrrrrrre.
SouthernGent on October 9, 2008 at 10:53 PM
BTW – if McCain does not mention democrats going after 401k plans at the debate; then this is a fix. McCain is trying to lose.
lorien1973 on October 9, 2008 at 10:53 PM
I talked to my mom tonight. She thinks Obama is gonna win. And she thinks he’s gonna make Carter look like Reagan. Her investments are down like 50% since the initial stock crash. She knows he’s a socialist and knows how it’s gonna turn out.
And she’s as pissed as I am that McCain won’t call out the dems, fight back on the economy or do anything but lay there.
Guess it runs in the family.
lorien1973 on October 9, 2008 at 10:55 PM
Ahhhh…just how Cloward-Piven drew it up. Fanfreakingtastic.
Tom Blogical on October 9, 2008 at 10:56 PM
Comrades!
(someone had to say it..)
baxtrice on October 9, 2008 at 10:56 PM
We’ve needed a Bank of the United States for some time — something which is directly controlled by the executive, unlike the Federal Reserve System.
unclesmrgol on October 9, 2008 at 10:56 PM
Well isn’t Brian the articulate one. “HOLY S***” was more indicative of the response in my workplace. I did take the effort to thank my Congressman for voting all that money to bail out irresponsible corporations like AIG to “fix” this problem before the Dow plunged below 9,000.
highhopes on October 9, 2008 at 10:57 PM
Does Fabri read HotAir? (though he has a much more optimistic view of where in the tunnel we are)
Well, we have a nice look at the well-intentioned entrance to a multi-decade economic tunnel …
progressoverpeace on October 8, 2008 at 1:52 PM
I was only discussing a possibility, here, but I’m amazed someone else used the tunnel metaphor. I’ve since moved on to a new one, so Fabri can have the tunnel. Now, I’m thinking about the possibility of financial singularities. I don’t think that that’s what we have, but I found the terminology interesting and it meshes strangely with the whole Large Hadron Collider discussion.
progressoverpeace on October 9, 2008 at 10:59 PM
You’re right, I should have said that.
Spirit of 1776 on October 9, 2008 at 11:00 PM
I think the LHC caused all of this.
When was it fired up? And when did this mess begin?
lorien1973 on October 9, 2008 at 11:01 PM
The socialists are coming. They’re out of the closet, and they’re coming!
But don’t they know we’re the ones with the guns?
Pope Linus on October 9, 2008 at 11:01 PM
GOOD NEWS: stock in WalMart, even with record earnings and thought to be “recession proof” (since people bargain hunt during recessions) HAS FALLEN 21% in the last 3 weeks.
Fell 14% since Friday.
What the @#@% is going on? It wasn’t supposed to happen like this……..
battleoflepanto1571 on October 9, 2008 at 11:03 PM
It’s OK. The first one’s to go, according to Yuri Bezmenov, are the useful idiots. They know too much.
Tom Blogical on October 9, 2008 at 11:03 PM
Amazing, just like global warming this snuck right up on us. There’s shit going on that we’ll never know. Why the markets continue to bleed after the rape of the taxpayer is unexplained. Seems the more questions that are raised about Obama the deeper the markets plunge, the economic mess must be be blamed on the Republicans despite the truth. Barney Frank, Chris Dodd and the culpability of the Democrats has all but disappeared from the news cycle. The bailout, whats it good for….absolutely nothing!
Healing you will feel!
dmann on October 9, 2008 at 11:04 PM
I’m glad they’re out of the closet. People need to see what they are about.
KCB on October 9, 2008 at 11:04 PM
This is October. The “crisis” just started in this fourth quarter. EVERY POTUS CAMPAIGN, the fourth quarter goes extremely loopy. And every single year by the end of October, manufacturing slows down anticipating holidays if for no other reason.
It’s bad. But it’s also being exaggerated in order to make it horrible. Reid announcing a “major insurance company that everyone knows by name” going into default the other day, and suddenly everyone panics and pulls out their invested money from every single American insurance company. The Democrats are forcing this recession. And the worst thing about it is that GWBush is forcing this into a depression with all the “high on the hog” regulations. It’s the OLD deal for suckers.
There is absolutely NOTHING wrong with McCain/Palin exposing Ayers this week. It isn’t just to reveal Obama’s liaison bindings to American terrorists as well as their mutual dinner companionship with the PLO spokesman. FASCISM is socialism. Socialism is not merely how the banks work and who has property rights. Socialism slits throats and is enforced by terrorists who become the radical authoritarians: THE NEW AUTHORITIES, the new “ESTABLISHMENT” system.
maverick muse on October 9, 2008 at 11:04 PM
That cabal of 20 JOOOOOOS is doing all this.
SouthernGent on October 9, 2008 at 11:07 PM
what about mccain should make me believe he’ll keep my money safe?
ernesto on October 9, 2008 at 11:07 PM
lorien1973 on October 9, 2008 at 11:01 PM
Close. It’s a weird world.
progressoverpeace on October 9, 2008 at 11:07 PM
Remember, it’s important to accept the narrative:
Republicans are to blame for this. No Democrat had a hand in this.
The Computer is your Friend!
spmat on October 9, 2008 at 11:08 PM
1. He’s not Obama.
2. Divided govt. Harry Reid will declare the bailout a failure before it starts.
3. WHen Obama is up in the polls, stocks tumble. Mccain up in the polls, stocks surge. For realsies. SOMETHING about JMac makes wall street happy.
battleoflepanto1571 on October 9, 2008 at 11:08 PM
The same sneering people, from the Lexus lib to the Lear jet set Obamabots, are selling on the news as it appears that BO is ahead in the polls.
It’s amazing to watch them throw their money to Obama, yet cry about the market when they see their own success.
Saltysam on October 9, 2008 at 11:08 PM
Ausies show on Fox Business right now – US Hedge funds are liquidating their positions globally to meet redemptions dragging down the whole world…
TheBigOldDog on October 9, 2008 at 11:10 PM
your kidding right?
i mean, real, concrete reasons why i should feel my money’s safer with mccain as pres. all the data suggests a coming downturn of 1930’s proportion…mccain, by sheer force of will, cant change the data…the trend is where it is man
ernesto on October 9, 2008 at 11:11 PM
Market consolidation. Just market consolidation. Market consolidation market consolidation market correction market correction….
Nationalization.
Welcome to the new world.
spmat on October 9, 2008 at 11:11 PM
Hey, look at the bright side…
our carbon footprints will get a lot smaller.
Yaaaay! More ice in the North!
Saltysam on October 9, 2008 at 11:12 PM
Hey. here is the deal.
If you speculate by putting your money in a scheme like the stock market, you expose yourself to this. Ya greedy bastard, ya get what you deserve. just like you do when you go to Vegas.
Save it. I know that the stock market is how capitalization works and that it is what lubes our economic engine, but here is the deal. you “ personally” should put the absolute majority of your wealth in real holdings. i.e. gold, palladium, rental commercial, rental residential,. and most importantly limit all liability possible.
Learn skills and do for yourself and save your money to buy real things, not waste it on bling. Yes bling aint just jewelry it is 42” TVs, eating out, star bucks, hair cuts over 5 bucks.
Don’t buy sh/t that you should make or grow yourself.
TheSitRep on October 9, 2008 at 11:12 PM
i mean, real, concrete reasons why i should feel my money’s safer with mccain as pres. all the data suggests a coming downturn of 1930’s proportion…mccain, by sheer force of will, cant change the data…the trend is where it is man
ernesto on October 9, 2008 at 11:11 PM
Purely from the economic side, because McCain wants pro-growth policies and Obama wants redistributive policies. That should be all you need to know.
progressoverpeace on October 9, 2008 at 11:13 PM
Today AMMO is you best and safest bet.
TheSitRep on October 9, 2008 at 11:13 PM
These CDOs are wreaking havoc across the globe… completely opaque financial time bombs all over the Globe. Nobody knows what in them, who the counterparties are and they are everywhere… These are the WMDs of the financial world…
TheBigOldDog on October 9, 2008 at 11:14 PM
imagine what Putin/Chavez/Iran will do with Obama/Pelosi/Reid as our ‘leaders’
jp on October 9, 2008 at 11:15 PM
As long as I get my bowl of rice and fish guts all will be fine, so says The Messiah!
dmann on October 9, 2008 at 11:15 PM
yep, and for the economic Libertarian absolutist…they are Private Contracts, no regulations. Granted pieces of them are these bogus mortagages by fannie/Freddie
jp on October 9, 2008 at 11:16 PM
TheBigOldDog on October 9, 2008 at 11:14 PM
As Jay Sevrin would say, “Lets try the Mocha”
dmann on October 9, 2008 at 11:18 PM
It’s the end of the world as we know it.
In turn, that’ll cause those stock markets to sell their stocks. Sounds like a whirlpool of financial doom to me.
lorien1973 on October 9, 2008 at 11:18 PM
I’d like to know who owns the CDO contracts
jp on October 9, 2008 at 11:18 PM
Problems is they are everywhere and its causing a total global freakout… the whole house of cards is falling down…
TheBigOldDog on October 9, 2008 at 11:19 PM
Soros. I’m sure.
lorien1973 on October 9, 2008 at 11:19 PM
except “pro growth” policies are what got everyone drunk on debt. sure fannie mae encouraged a certain sector of bad debt to grow…but this uncertainty…its not about subprime assets anymore…its about the derivatives protecting those assets. and THAT was all greenspans doing. greenspan and reagan had their vision of pro growth policy and it got us drunk on credit through the wires.
im sorry, but i dont trust the generic term pro growth policies anymore. somethings gotta change. maybe the taxes should stay lower, sure, but the regulatory environment has to change. how we look at privatization and the security and emphasis of our economy. these issues arent dealt with by throwing the term “pro growth policies” out like its magic.
ernesto on October 9, 2008 at 11:20 PM
Good, the sooner the flames burn themselves out the better, repeal the bailout!
dmann on October 9, 2008 at 11:20 PM
Hold on just a damn minute, all you nervous nellies.
With all this shit hitting the fan at once, with the DFL supposedly riding a tidal wave of Bush dissatisfaction right into power even before the shit storm started….the Obarky dog should be about twenty points ahead and he isn’t. That should tell you something.
Bishop on October 9, 2008 at 11:22 PM
HUH?! Do the math here. When oil was $140 a barrel gas was $4.10 a gallon. Thats $0.0292 per dollar of oil (as related to price of gas). Call it 3 cents per dollar. Oil dropped to $86 a barrel today, someone want to tell me why gas is hovering around $3.50 a gallon, when by that figure it should be $2.58 a gallon? WTF?!
Yeah, I know, it’s a simplistic mathematical solution considering all the costs are fixed for delivery and production, but the fact is the price of gas has gone down by 15% while the cost of oil has gone down by nearly 40% This is bull$hit. And don’t give me the tired of ‘the price paid at wholesale takes longer to filter down…” crap. If there is a hurricane, the bastards raise the price of gas before we even know about the storm. But if price goes down we have to wait for months. Bill O’Rielly is right on this one, we’re being screwed by the oil companies. I thought separate companies working to fix prices were illegal? Can someone figure this BS out?
Falconsword on October 9, 2008 at 11:22 PM
If they start taking my 401k, there’s really no sense in having it. In this event I will close it out, take the hit and put money on CDs and Money Markets. Just opened my 401k statement yesterday. I have a passbook savings account that has done better this year.
Tommy_G on October 9, 2008 at 11:23 PM
Both at one time? I don’t think so! :)
OldEnglish on October 9, 2008 at 11:24 PM
When idiots panic, grab the bargains.
Potter’s Law.
profitsbeard on October 9, 2008 at 11:25 PM
Someones hands are on the throttles, who’s is the $64K ?
dmann on October 9, 2008 at 11:26 PM
could turn out their is some Putin and Saudi money in these things too.
something odd is going on, its a play on this country and everything it stands for. Almost like they are begging bush to suspend elections and fullfill leftwing prophecy
jp on October 9, 2008 at 11:26 PM
When can I start saying “Buy! Buy! Buy!”?
Seriously, GM at a 58 year low? Does anybody think that the US government is going to let GM, part of its “security” package, go into the tank?
I have a couple hundred bucks put away. I think I might go on line and start buying pretty soon. In ten years, when the market has recovered nicely and then some, my little portfolio ought to look pretty nice.
All things considered, for people just starting their 401k or other nest egg, they have the most opportunity to make something big happen for themselves in the short run.
It’s the people who are only a few years out from retirement that are getting the bum steer.
But, like I said, I’m thinking it’s going to be a buyers market.
So…who yells “Buy! Buy! buy!”?
Kat_Mo on October 9, 2008 at 11:27 PM
OldEnglish on October 9, 2008 at 11:24 PM
So I see you’ve worked hitech!
dmann on October 9, 2008 at 11:27 PM
the good news, if Obama cant win this election cycle he can never win nationally
jp on October 9, 2008 at 11:27 PM
and who knows, maybe Diebold is in the GOP pocket ;)
jp on October 9, 2008 at 11:28 PM
all the data suggests a coming downturn of 1930’s proportion
Crap, not even close. We saw worse real economic numbers after WWII and at the start of the 1960’s, per GDP these current losses are still less than those times.
Yes the stock markets are down but if you insist on watching just the DOW you will think that collapse is imminent. Thirty fucking stocks as compared to what’s happening on the S&P or the Russell 2000; the trends there are not as dire because they are broader.
You can’t sell to thin air, people are buying what others are selling, it’s the sellers taking a bath.
Bishop on October 9, 2008 at 11:28 PM
if the CDS problem is overblown, its Buy time for sure.
If its the real deal, time to buy guns, ammo, canned foods, etc.
jp on October 9, 2008 at 11:30 PM
Kat_Mo at 11:27 PM-
BUY!
And hold.
The Instant Gratification suckers are the usual losers.
profitsbeard on October 9, 2008 at 11:30 PM
Really I was paying $4.49 a gallon and I have oil refineries almost literialy in my back yard. As for the price at $140 a barrel, I think the oil companies were eating some of the cost just to move the product.
When oil hit $147 a barrel the experts were predicting $200+ a barrel prices and $5.75 a gallon prices for gas in 18 months. Nice to see those experts are as smart as the ones on Wall Street.
Tommy_G on October 9, 2008 at 11:31 PM
except “pro growth” policies are what got everyone drunk on debt.
Not at all. It was our declaration that recessions are, essentially, illegal (blame pretty much everyone in the US for that) and those fools who thought that economies can maintain managed growth without recessions, which is just silly based on every system we have ever encountered in nature. But growth is what humans are all about. Without growth, we die.
sure fannie mae encouraged a certain sector of bad debt to grow…
Again, that is not something that anyone with a brain wanted. The problem is that the people who stopped Fannie/Freddie would have been tagged responsible for causing the recession that would have followed. So people tried to stop them … somewhat. But, like all other things, if one solves a problem before anyone can see it, then that person gets blamed for all ill-effects that follow, even if that small pain would have been a good move. Universal suffrage contributes mightily to this problem.
but this uncertainty…its not about subprime assets anymore…its about the derivatives protecting those assets. and THAT was all greenspans doing.
Greenspan warned about this. I didn’t agree with Greenspan’s interest rate strategy, but he was presented with many problems that people demanded be fixed, including the dissappearance of $6 trillion in wealth with the NASDAQ pop and an awful hit from 9/11 (after which the economy had to be goosed). Greenspan didn’t have the guts to force recessions (or allow them, if you will) on the US and most people in the US liked it that way.
greenspan and reagan had their vision of pro growth policy and it got us drunk on credit through the wires.
Not at all. Our society got sucked in, the same way societies have gotten sucked in to the same problem time and time again throughout history.
The problem centered on many in the US declaring all pain to be illlegal and social engineering in our economy. We are too nice and generous about most of these things, which is what got us into it. But pro-growth policies are the only way to go.
im sorry, but i dont trust the generic term pro growth policies anymore. somethings gotta change. maybe the taxes should stay lower, sure, but the regulatory environment has to change. how we look at privatization and the security and emphasis of our economy. these issues arent dealt with by throwing the term “pro growth policies” out like its magic.
ernesto on October 9, 2008 at 11:20 PM
We need limits on the size of government. We need people to stop screaming every time they scratch their knee and a fleet of ambulances doesn’t come pick them up, even though they are illegal aliens who should not even be here.
In the end, the biggest problem comes from the courts, which make decisions about things they don’t know and never have to suffer the consequences of their decisions.
progressoverpeace on October 9, 2008 at 11:31 PM
With a little luck it’s 1974 right around when Nixon resigned.
here’s the chart
http://www.djindexes.com/mdsidx/downloads/1970-1979.pdf
Despite what all the town criers are shrieking we have been here before with the same world ending depression twaddle. Oct 73-74 is almost a dead ringer for Oct 07-08. That would put the market bottom somewhere between 700-800 on the S&P possibly by the end of the month. We closed today at 910
That said if the spooz breaks 700 I suppose I’ll join the panic. In the mean time it is best to remember the old Chinese proverb,
“Man who pick bottom usually have shit on finger”
patrick neid on October 9, 2008 at 11:32 PM
Kat_Mo on October 9, 2008 at 11:27 PM
I do, but pick wisely. Microsoft would be a good place to start, or a company of similar cash reserves and less dependence on trends.
Me, I’m not touching a thing until next week. Weekends are cool down periods, a time when sellers who did freak ask themselves “WTF did I just do” and buyers start looking for the deals, rubbing their hands with glee.
Bishop on October 9, 2008 at 11:32 PM
If they bail out theose emefers, count on seeing me on FOX as swat teams try to take me down. GM is taking me broke with a POS Buick as it is. I’ll be darned if my tax dollars are going to subsidize criminal/mafia thugs in Detroit.
Well, maybe that was a little too much bluster on part. I really would take on Detroit, but my Buick would never make it that far.
Laura in Maryland on October 9, 2008 at 11:32 PM
Those economists are sure smart to have been able to figure that out.
OUT: We are all Georgians now.
IN: We are all Socialists now.
MB4 on October 9, 2008 at 11:33 PM
If only it was that transitory.
Spirit of 1776 on October 9, 2008 at 11:34 PM
jp on October 9, 2008 at 11:26 PM
Agreed, but what? I’ve talked to my NY banker buds (years of vacationing on the cape) and they are totally mystified by the magnitude of the GLOBAL meltdown, my money is on the ol’ axis of real evil…..chicoms, putinites and the Islamopukes. They all have plenty of money and have been conspicously quiet.
dmann on October 9, 2008 at 11:34 PM
Ask the AIG or Bear Sterns stockholders how much they appreciate the government’s bailout. Hint: They were all blown out.
TheBigOldDog on October 9, 2008 at 11:35 PM
Maybe we’re all socialist Georgians. Like Stalin. All your Khazaks are belong to us.
CK MacLeod on October 9, 2008 at 11:35 PM
Got IRA statement today. Have not opened. Don’t want to go into a “depression”.
HornetSting on October 9, 2008 at 11:35 PM
Kat_Mo at 11:27 PM-
BUY!
And hold.
The Instant Gratification suckers are the usual losers.
profitsbeard on October 9, 2008 at 11:30 PM
Absol-d*mn-lutely! What else besides GM? I’m not a total stock watcher. I just know the big ones. Lockheed Martin? Garmin? Name some so I can take a look.
Kat_Mo on October 9, 2008 at 11:37 PM
Don’t complain. Among other things, my Chevy Camero’s electrical system caught fire twice.
MB4 on October 9, 2008 at 11:37 PM
If they tax 401s, it will screw up company compensation schemes because many offer matching savings, which will then have to be diverted into salaries rather than employees 401s. So, the employees contribution and the company contribution all increase the taxable income for that year. LOL. What a mess.
a capella on October 9, 2008 at 11:37 PM
Never catch a falling knife.
TheBigOldDog on October 9, 2008 at 11:38 PM
Someones hands are on the throttles, who’s is the $64K ?
dmann on October 9, 2008 at 11:26 PM
It tells me that every last effin thing happening should make Odummy able to win without even being on the ballot, yet he can’t close the deal.
The man bought a half-hour of the most expensive ad-time on earth right near the end of the campaign, and he could just as easily make a mistake as gather the few people left who haven’t made up their minds.
The internal numbers are different, the trust people have in a rookie to steer this floundering ship is fading, and enough people are probably thinking, “Eh, Obarco will be back in four years, he will get another chance.”
Bishop on October 9, 2008 at 11:38 PM
The dark tunnel has not affected my family. Well actually it has but not enough to make us worry about our finances.
Those of you who think that reckless speculation is the highway to wealth are getting what you deserve.
The rest of us who understand that fiscal irresponsibility is something to run away from are sitting pretty and still retaining the vast majority of our wealth.
BTW
I was out of citigroup in the thirties.
My mother told me to get out. Every once in a while a Marine has to listen to his mother. Thanks mom!
winemkr on October 9, 2008 at 11:39 PM
At least they saved the spa industry.
At-ti-ca! At-ti-ca!
Laura in Maryland on October 9, 2008 at 11:39 PM
Unless we’re at the end of the era of average rising stock prices. Heck, it could be in a generation most people don’t even know what a stock market is.
CK MacLeod on October 9, 2008 at 11:39 PM
MB4 on October 9, 2008 at 11:37 PM
Must have been a clone of anything Lucas (prince of darkness)fabricated!
dmann on October 9, 2008 at 11:39 PM
My condolences. My last car was a Honda, and I drove it into the ground. I only had one major stupid repair, and it was only about $280. GM deseveres to bo belly-up.
Laura in Maryland on October 9, 2008 at 11:42 PM
Well, I don’t want to burst bubbles, but there are certain industries that the US depends on for parts for military vehicles, etc. They are the plants that “convert” in an emergency. This is post WWII planning that still impacts how the government sees what industries it will “bail out”.
GM is a lot more than Buicks, you know what I mean?
I’m talking about a manufacturer, not an investment firm or “services”. Something that makes something. You know what I mean.
Kat_Mo on October 9, 2008 at 11:42 PM
“It’s only a flesh wound”- GW Bush.
Fletch54 on October 9, 2008 at 11:43 PM
Asian Market’s tanking again
MB4 on October 9, 2008 at 11:45 PM
More like it worked me (over). But, once bitten …
OldEnglish on October 9, 2008 at 11:46 PM
Damn, another piece of the sky just hit me in the head.
Limerick on October 9, 2008 at 11:46 PM
Bishop on October 9, 2008 at 11:38 PM
Agreed, maybe The Messiah will have an unfortunate incident whilst riding his bike due to an under inflated tire….Its ok to dream, isn’t it?
dmann on October 9, 2008 at 11:46 PM
OldEnglish on October 9, 2008 at 11:46 PM
Ha…nothing like whore $$$$ is there!
dmann on October 9, 2008 at 11:48 PM
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