Quite a slide in stocks today, huh? As for me, I’m congratulating myself on shifting all my 401k funds from stocks to bonds just yesterday. I’m not sure that this move, in the end, will really save my 401k, but I was seeking some means of avoiding the crash in value I had back in 2008.
So, what now? Do we keep crashing, or does something happen to make it all go away, at least for a while? I honestly don’t know – but over at Zero Hedge a dire warning that there is no way out:
…Nothing from 2008 has actually been fixed. Faith and trust do not exist in the financial system anymore. Everyone knows the deal… they just don’t want to admit it as it means GAME OVER for the system as we know it.
Which is why now that the next round of the Financial Crisis has hit, there’s really nothing the Fed or anyone can do about it. They had their big chance to fix things in 2008 and failed. This time around, no one will believe the Fed can fix anything. And what’s coming will make 2008 look like a joke….
Could be – but I still think that the Federal Reserve and the US Treasury can pull a couple more rabbits out of the hat. They can’t fix it, but they may be able to juggle the financial balls until after election day, next year. Which is, by the way, the primary aim of the Ruling Class…keeping things together until after the election and hoping that no TEA Party-backed candidate wins the White House. Their ultimate nightmare is a President who will actually change the system…the corrupt system, that is, which benefits the Ruling Class.
As for me, I admit to a tremor of fear today … I work at a firm highly sensitive to things like stock market crashes; this recession could become a depression right quick (on the “a recession is when your neighbor looses his job, a depression is when you lose yours” theory). But, with all that, things will be as they will. We’re in one heck of a mess – the end of Big Government liberalism will not be easy and it won’t be pretty. Decades of living by lies has to be paid for…and we who are in the work force today will just have to pay. But, also, we must change things…so that the children and grandchildren have that better future the liberals of the 60’s told our parents we’d be living today.
It’s just temporary, those investors had to sell off in order to buy the $300 billion in fed debt they just added. Doing it all at once sort of helps with panic selling. I’m guessing it’s a planned attack so that little Timothy has an excuse to print up more dollars soon, in order to ease our pain.
how much does soros have to shift before the markets start to tumble…looks like he is at it again…
You knew what austerity meant before you demanded it, right?
If you didn’t….you will.
I agree with you that Big Government is going to have to come to an end, as will a lot of the unrealistic social programs that have developed without end over the last 50 years. But I will take issue that it is strictly “liberalism” and “liberals” that are responsible. Don’t get me wrong, Obama has been a total disaster, Bill Clinton loved his tax increases, and Carter was a total joke. But what about our “conservative” leaders, like Reagan? The guy didn’t balance the budget once in eight years, he just ran deficits non-stop. To beat Communism? That’s just not realistic, because the Soviet Union had already withered out in Afghanistan just like we are doing now. Old Man ‘read my lies’ Bush raised taxes, another liar. And his son W just through around money like a fool. Iraq useless war, Part D totally unfunded nightmare, and endless deficits. I just see very little quality leadership and no fiscal conservatives anywhere in our history. Just going after low quality liberals masks the poor behavior of our low quality “conservative” leaders.
You and your damn facts Eric. Reagan was a saint!
you both are useful idiot devils.
The truth of the matter is that the USSR was not falling apart when Reagan took office…it required strenuous efforts on our part to force the USSR in to dissolution. Reagan had a choice to make – he wanted low taxes, balanced budgets and a dead USSR, but with the Democrats firmly in control of the House and the Senate GOP caucus only containing a few true-blue conservatives, he had to compromise…he gave way on the balanced budget in order to get the economy-reviving tax cuts which were necessary to build the economy…and he spent part of the rapidly rising revenues on a military buildup which bankrupted the USSR.
That said, the problem we have today is the result of bi-partisan action, but all the action was dictated by the liberal world view…without liberals pushing their idiocy about how government can make people equal, happy and prosperous we wouldn’t be in this mess…this mess of growing poverty, increasing sorrow and massively unequal lives. If liberalism goes, we can cure it all.
People STILL gloss over the fact that Reagan’s tax cuts were supposed to be matched by spending cuts on O’Neill’s part. Old Tip reneged on that promise before the ink was dry on the agreement. Reagan wasn’t quite the pinchpenny people remember him to be, but he tried a heck of a lot more than either Bush pere or fils.
The Dow has lost nearly 1,000 points since the Smurfs rang the opening bell, in case we’re looking to pin this on someone. – Tim Siedell
Which smurfs? the nazi smurfs or communist smurfs? I can provide links to idiots who are wasting money comparing both to the smufs upon request. 🙂
Neoconehead would note that there is only one smurfette among all the male smurfs. It’s neither the commie or nazi smurf that’s responsible for this crash.
OMG….the smurfs whent complete capitalist piggy!!! When did this happen??? Ms. Phillips is really getting lax on the job.
You’re missing the big colored picture. Not even the princess or ms. phillips could imagine this. Those smurfs aren’t capitalist pigs, they are out to destroy wall street. One smurfette and hundreds of smurfs is like fire island NY. It’s the ultimate inside job, a truther conspiracy come true.
an attack larger than Pearl Harbor, out of control homosexuals in the donk party who were warned but we got called racists (anti-smurf), and liars.- Neoconehead
Ok so this is a conspiracy? I can relate to that. Like that moon landing thingy? The smurfs aren’t capitalist pigs then? Ok, that warms my heart a little bit. Papa Smurf is in no danger of losing his red hat or karl marx beard. Good.
Some things you just don’t mess with.
I’ll take commie smirfs behind door #1
and Muslim/nazi smirfs behind door #2
Put Smurffete in a burqua??? Never!!!
stop ducking your previous homophobic remarks. You think the smurfs are gay and smurfette is a cover. You think the gay smurfs are out to destroy the economy using the Gargamel-Azrael plan which you’ve codenamed the cloven piven strategy.