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post #141 of 437 (permalink) Old 03-16-2008, 10:10 PM
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Futures?

Dow futures Down 224
Nasdaq futures down 41
S&P futures are down 28

Oil is up a dollar
Spot Gold is up 31.50
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post #142 of 437 (permalink) Old 03-16-2008, 11:06 PM
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I am sure Jayshit4brain will have something positive to say about it too. He is going to lie his ass off how much money he makes during this troubled times. Does it sound familiar? He sounds just like fucking George Bush.

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post #143 of 437 (permalink) Old 03-16-2008, 11:17 PM
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Originally Posted by elau View Post
I am sure Jayshit4brain will have something positive to say about it too. He is going to lie his ass off how much money he makes during this troubled times. Does it sound familiar? He sounds just like fucking George Bush.

But Elau, you forget, look at the firsts posts in this thread, Jay said he smelled a bottom nearby...............
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post #144 of 437 (permalink) Old 03-17-2008, 11:44 AM
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Well, Jayshit4brain doesn't know what a bottom is if it is in front of his face.

The saga continues.....

Market Dispatch - MSN Money

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post #145 of 437 (permalink) Old 03-18-2008, 09:34 AM
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Birdbrain,
Looks like the economy is not as rosy as your pea brain thinks. Trickle down economy is a bitch, isn't it? Looks like Bush's economic house of cards starts to crumble now. And this is only a start.

Delta to offer buyouts to some 30,000 - Aviation - MSNBC.com

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post #146 of 437 (permalink) Old 03-18-2008, 10:21 AM Thread Starter
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Dow Jones Industrial Average


Don't believe everything you think
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post #147 of 437 (permalink) Old 03-18-2008, 12:02 PM
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Like I said, I'll buy back in when the DOW hits 6,000. Yo, Jayhawk, you want me to send you pics of my new lake house ? I bought it when Apple hit $200 a share.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #148 of 437 (permalink) Old 03-18-2008, 12:04 PM
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Birdbrain,
You are so predictable.

The Fed cuts rate, the market reacts. It is another dead cat bounce. Did you not claim to be a market expert? You really can't see the difference between a real rebound and a dead cat bounce, can you?

Your credibility just drop from +0 to -0. Now go crawl back to the hole you came from.

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post #149 of 437 (permalink) Old 03-18-2008, 12:13 PM
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I particularly liked how Lehman and Sachs both reported earning down near 50% or more yet the cocaine and ADD laden traders were so pumped that it wasn't 90% down that they rallied those stocks.

With the FED preparing to tear off the cookie jar lid and weld it open in a few minutes, most of his bullets are gone. If this doesn't stabilize the economy then we might just end up with our own little Lost Decade.

Read up on Japan's Lost Decade 1990-NOW. It is somewhat an enlightening parallel.

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post #150 of 437 (permalink) Old 03-18-2008, 12:37 PM
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Hate to break the news to Sec. Paulson but the spillover into the "Real Economy" is already fully spilling. But it does continue to show just how out of touch this Administration is regarding the Economy.

Coming up next. Stagflation. A Bush Recession with a tidy little Inflation attached. Welcome to Hell.


Fed Cuts Rates by 3/4 Percentage Point
Tuesday March 18, 2:23 pm ET
Fed Cuts Rates by 3/4 Percentage Point; Dow Industrials Gain Over 300 Ahead of the Move

WASHINGTON (AP) -- The Federal Reserve on Tuesday slashed a key interest rate by three-fourths of a percentage point, moving aggressively to contain a credit crisis threatening to push the country into a severe recession.

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The latest action brought the federal funds rate -- the interest that banks charge each other -- down to 2.25 percent, the lowest point since late 2004. It marked the second back-to-back cuts of three-fourths of a percentage point.

Fed Chairman Ben Bernanke and his colleages have now cut the funds rate six times since last September, with the reductions becoming more aggressive since January as the central bank has faced growing turmoil in global financial markets.

In Jacksonville, Fla., Tuesday, President Bush said the government will take further action -- if necessary -- to help the sagging economy.

The stock market had anticipated a cut and the Dow Jones industrial average jumped over 300 points ahead of the announcement. But the Dow dropped about 100 from its high for the day after the Fed failed to cut rates by a full point, which many had expected.

The Fed's target for the federal funds rate, the interest that banks charge each other on overnight loans, stood at 3 percent before the move, and was at 4.25 percent at the beginning of this year.

Markets posted strong gains before the Fed announcement after Lehman Brothers and Goldman Sachs reported better-than-expected results for the first quarter.

Federal Reserve Chairman Ben Bernanke and his colleagues have already been working overtime, employing a variety of novel approaches to keep the economy out of a recession or at least moderate the impact of any downturn.

Treasury Secretary Henry Paulson made the rounds of the morning TV shows Tuesday to underscore the administration's commitment to keeping turmoil in the financial markets from worsening a struggling economy.

"The priority we have is a stable, orderly financial" market, he said on CBS' "The Early Show.

He said the focus of policymakers "is reducing the spillover into the real economy from the turbulence and disruptions in our financial markets."

To those who would complain that the administration is more interested in bailing out Wall Street than struggling homeowners, Paulson said the thousands of Bear Stearns employees likely to lose their jobs and life savings, and thousands of shareholders who have lost billions because of the company's collapse, probably do not feel like they have been bailed out.

A cut in the funds rate will translate immediately into lower rates for consumers and businesses as banks cut their prime lending rate by a similar amount.

"There is no reason for the Fed not to be aggressive," said Mark Zandi, chief economist at Moody's Economy.com. "The economy is in a recession, the financial system is in disarray and inflation is low."

However, a report Tuesday showed that wholesale prices rose by 0.3 percent in February, driven higher by rising energy costs.

Outside of food and energy, core inflation jumped by 0.5 percent, the biggest increase in 15 months and a possible sign that the relentless increase over the past two years in energy costs is making its presence felt in other sectors of the economy.

At the moment, Fed officials have said they are more concerned about weak growth than inflation. Another report Tuesday showed that problems in the housing industry continue, with construction of new homes falling by a bigger-than-expected 0.6 percent and applications for new building permits dropping to the lowest level in 16 years.

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