Fed throwing the kitchen sink at financial problems! - Page 3 - Mercedes-Benz Forum

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post #21 of 41 (permalink) Old 12-16-2008, 07:55 PM
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Quote:
Originally Posted by Marsden View Post
Bush actually said that? First time I've seen him step up and admit an obligation.

So.... he's going to get rid of this crisis now? That'll be cool.
Pay heed. The decider has spoken.


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post #22 of 41 (permalink) Old 12-16-2008, 08:06 PM
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Buy gold!

In reality today's move was mostly symbolic. I was hearing/reading reports the Fed wasn't sticking to the 1% target too strictly so I will assume once the initial shock wears off we'll resume the downtrend. After all, look what happened to Japan when they experienced a real estate induced depression. the BoJ has had interest rates at 0% for over a decade and Japan still hasn't recovered to half of pre-crash levels.

This ship is going down. SKF, DXD, SRS anyone?

When devils will the blackest sins put on, they do suggest, at first with heavenly shows - Othello
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post #23 of 41 (permalink) Old 12-16-2008, 08:14 PM Thread Starter
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The problem is that the government has started something that can't be reversed now so we may as well keep the printing presses going at this point because the right thing to do has already passed us by ie: let the market sort itself out without intervention.
I guess that as long as the other currencies keep devaluing themselves to keep pace with the dollar all will be okay, based on Joe Sixpack never getting smart. If relying on Joe Sixpack to never get smart is the answer, we're safe. As the sage of baltimore H.L. Mencken said "you'll never go broke underestimating the intelligence of the populace."
H. L. Mencken also said "A cynic is a man who, when he smells flowers, looks around for a coffin." Guess he knew you and bear!

Don't believe everything you think
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post #24 of 41 (permalink) Old 12-16-2008, 08:36 PM
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H. L. Mencken also said "A cynic is a man who, when he smells flowers, looks around for a coffin." Guess he knew you and bear!
But a man who had been paying attention would have seen the bed of flowers, or the coffin well before smelling those flowers.

Spatial awareness is a wonderful thing. It works with economics too.

McBear,
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post #25 of 41 (permalink) Old 12-16-2008, 08:39 PM
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Originally Posted by Marsden View Post
Bush actually said that? First time I've seen him step up and admit an obligation.
Wonder how much that had to do with seeing two shoes flying directly at him? You know, your live flashes in front of you thingie.

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post #26 of 41 (permalink) Old 12-16-2008, 08:46 PM
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Jay,
I'd like to know why you are posting this? Are you finally
- admitting your boy and his partners in crime screwed up?
- the economy is not as rosy as you said?
- there is indeed a recession?
- we were right all along and you were wrong all along?
- you worshipped the wrong guy?

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post #27 of 41 (permalink) Old 12-16-2008, 09:00 PM
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H. L. Mencken also said "A cynic is a man who, when he smells flowers, looks around for a coffin." Guess he knew you and bear!

On the bright side...

Spam sales up
Used car sales up

When devils will the blackest sins put on, they do suggest, at first with heavenly shows - Othello
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post #28 of 41 (permalink) Old 12-16-2008, 09:08 PM
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^^^Opportunity abounds

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post #29 of 41 (permalink) Old 12-16-2008, 09:13 PM
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Pearls of Paulson...or is that Perils

November 16
Quote:
Originally Posted by Paulson in LATimes
"I got to tell you, I think our major institutions have been stabilized. I believe that very strongly."
Paulson says banking system has been 'stabilized'
November 21
Quote:
Today, Citigroup, once the nation’s largest and mightiest financial institution, has been brought to its knees by more than $65 billion in losses, write-downs for troubled assets and charges to account for future losses.

Citigroup’s stock has plummeted to its lowest price in more than a decade, closing Friday at $3.77. At that price the company is worth just $20.5 billion, down from $244 billion two years ago. Waves of layoffs have accompanied that slide, with about 75,000 jobs already gone or set to disappear from a work force that numbered about 375,000 a year ago.
http://www.nytimes.com/2008/11/23/business/23citi.html



December 16
Quote:
Originally Posted by Paulson, from Fox
Treasury Secretary Henry Paulson said Tuesday that he does not expect any more major financial institutions to fail during the current credit crisis.
Paulson Says Major Financial Institutions Have Stabilized -
This cannot bode well for the market later this week or early next. This guy is like the Angel of Death with his prognostications and and "astute" readings of the economy.

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post #30 of 41 (permalink) Old 12-16-2008, 09:19 PM
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Originally Posted by cozette View Post
Buy gold!


This ship is going down. SKF, DXD, SRS anyone?
Yuck

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