Dow up 416 as stocks have best day in five years, page 1
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Topic started on 11-3-2008 @ 06:31 PM by pacificwind

Dow up 416 as stocks have best day in five years


www.chicagotribune.com
The Dow Jones industrial average soared 416.66 points, or 3.5 percent, to 12,156.81. Peoria-based Caterpillar was the biggest contributor to the gain, based on Dow points. But the index's four financial stocks -- American Express, Citigroup, J.P. Morgan Chase and Bank of America -- posted the biggest percentage gains.
(visit the link for the full news article)


reply posted on 11-3-2008 @ 07:00 PM by 2ciewan
Originally posted by pacificwind
Exactly the type of response I expected - the problem, of course, is that this went up based on actual positive news and not speculation. Unlike the drops, which were often fueled by "the end is nigh" investor hysteria. I dont wan't an economic recovery because as of yet there is nothing to recover from, and if we do end up in a recession it will happen as part of the business cycle, and we'll recover naturally.


Well, what do you expect really?

If you fall for all the lies and mis-information, on a corrupt, un-human system of little green notes running the planet then great, fill your boots.

You are in a recession, face fact. Walk into your local town centre, your eyes will show you that, and if your gut instinct doesn't tell you that then im sure you will be the "first against the wall when the revolution comes." Or better still, go get another mortgage, feed the monster....because without debt your beloved system is worthless.

The simple matter is that the human race is fast stripping this planet of all its assets, there is a global food crisis/energy crisis already here..... which incidentally other countries have been going through for decades. Thousands of people starve to death every day. Just because the bailiffs/angry mobs have not knocked at your door, does not mean its not going to happen.

And you call this good news?

Please take your head out of the sand, this is exactly the sort of response that the 400 point boost of the economy was designed for... Go back to sleep america, your government is making all the bad stuff go away.

Personally i prefer to believe what i see, and not what other people tell me.


reply posted on 11-3-2008 @ 07:17 PM by marg6043
reply to post by 2ciewan



Exactly this only to bail out the banks this no going to fix what caused the problem to begin with and that was the housing crash.

Occurs the ones that made big today were the ones that benefited from the cash flow, is not rocket science here.

As we have seen in the last several months this has been done over and over again but it comes back to hunt the financial institutions as they keep bringing out their write outs.

If fed would give me 1 million dollars, only one I would be doing great too.


reply posted on 11-3-2008 @ 07:20 PM by 44soulslayer
Originally posted by pacificwind
Looking through the archives, I found it interesting how every time there was a big one day drop in the DOW, people were posting news articles and declaring that the end was nigh, and it was time to buy guns and ammo. Apparently the end isn't as close as some would like it to be.

Today, the market had the largest single day gain it has ever had FOR FIVE YEARS. While I'm sure the prophets of doom will come out to tell us this is all a one day thing and the end is still nigh, I think the evidence speaks for itself. The traditional doomsday talking points about how oil prices or the value of dollar will cause a crash seem to be quite wrong - the rally happened during the highest oil prices ever. The dollar made notable gains against all major currencies. Moody's reaffirmed MBIA's AAA rating.

Claims that the Fed's cash infusion caused this also don't work out, because by doing cash infusion the Fed will not be doing an interest rate cut - the positive impact of a cash infusion is washed out by the fact that no interest rate cut is likely to come now.

www.chicagotribune.com
(visit the link for the full news article)

[edit on 11-3-2008 by pacificwind]


My friend you are an unabashed optimist arent you

The only reason markets rose this much today was an unprecedented cash injection by central governments to prevent market failure. Such a move is unprecedented not only in modern times, but in the history of mankind.

And incidentally, it is the last line of defence against recession. Should stocks continue to fall, and should the credit crunch continue, the collapse is nigh.


reply posted on 11-3-2008 @ 07:30 PM by St Udio
reply to post by pacificwind




its fun to see someone all Giddy..

but i'm afraid its not very contageous.
As far as the "" cash Infusion"" by the Federal (cartel) Reserve...

the Fed is only making $200billion available to the prime & gigantic
financial houses... for an extended 28 day period as opposed to the 'overnight' period previously in effect.

what one has to realize...is that the same toxic paper causing the credit freeze up , (because the paper is only worth 20 cents on the dollar),
is the collateral these prime financial houses are going to use as collateral at the Fed's generous valuation of 85 cents on the dollar --- for these new and extended (to 28 day) loans of cash.

--- the exhuberance of the moment has caught the market in a moment of
what Greenspan calls 'Irrational Exhuberance'...once again.
When the ralty sinks in...tomorrow or the next day =
the markets/investors will wake-up and realize that the member banks
may wait until the 18th to make any loan applications at the anticipated
2 1/4 to 2 1/2 % interest rate... but if there is not Fed Fund Rate decrease,
the banks ain't gonna borrow that$200 billion -- to lend out to the community - they'll borrow the 28 day funds to billow out their execuitives 'golden parachutes' & let the Fed. holding the bag on
under-collateralized loans.

I suggest that the banks who realized loans based on 85% of face value of mortgage bonds
---but having a market value of 20% of face value to secure the Fed Loan,
the banks being no-dummies.... will surrender the toxic paper and default n the Fed Reserve 28 day loans...
and walk away with 65% more money than what they had, all without having to originate loans or go through all the hassle of investigating their
loan applicants to realize the normal bank return of 6-9% plus the interest they charge the customer....


the swindle(s) continue, but on a grander scale --- imho


reply posted on 11-3-2008 @ 08:45 PM by Ionized
You people and your blissful optimism and ignorantly hopeful stance towards this economy and this country. It is almost as if you are scared of the end, of what might emerge from the ashes. Keep hoping that your system continues, that your fragile web of illusions does not succumb to the buildup of dew.

The already well-to-do will be optimist to the end, largely ignorant of the suffering and struggle of the lower classes, which I live in and witness everyday. And I am not as bad off as others I know, many of whom have lost or are losing their houses back to the real owners, the banks. I don't own a house and never will, any land you have to pay tax to live on is not a land I would want or ever consider my own. We are transient anyhow and so are our possessions, what right do I have to claim a piece of land, and what right does any government have above me? None.

Engineered decline. Death of the many for enrichment of the few. The illusion of freedom within a system of rules. Conformity brings contentment. Slavery is happiness.

Break free of your mental chains through any means possible. With the end will come the beginning of something else. At the bifurcation point is where we tip things in our favor, or be killed trying to do so.

I have made my choice, long ago. What a time to be alive, the beginning of a new century, the end of an era.

Buy high, sell low. It doesn't matter. Sell everything and stock up freeze dried food, water purification systems, guns, and ammo. By the way here is a link to my online store where I sell all of the above! (haha just kidding, but boy would this be a time to capitalize on that.)

Prepare yourselves for the end, but live each day to the fullest. With each breath be grateful for the beauty we get to witness in this universe. As fleeting as those moments may be, they do exist, and it is the witnessing of beauty that we are meant to live for. Do not fear the collapse of the status quo, it might mean the end of life for many, but the universe will go on, and since we are all part of the universe, we will go on as well.

A bit poetic this time, my falsest apologies to those that don't get it.



reply posted on 11-3-2008 @ 08:50 PM by downtown436
reply to post by pacificwind



I'm pretty sure we are screwed, if we see 5.00 gas, the wheels are going to come off the wagon in this country. HYPERINFLATION!!!!!


reply posted on 11-3-2008 @ 08:52 PM by pacificwind
2ciewan:

Exactly the response I was expecting.

If you fall for all the lies and mis-information, on a corrupt media, intent on programming you with socialism and communism thinking and doomsday prophecies that the world is going to end then great, fill your boots.

The United States is not in a recession, face reality. Read actual economic literature, and learn the definition of a recession. Walk into your local town centre, your eyes will show you that, and if your gut instinct doesn't tell you that then im sure you will continue to believe in the propaganda that the media teaches you. Or better still, go blame your problems on everyone else, feed the monster....because without switching the blame your beloved ideology is worthless.

The simple matter is that doomsday prophets like you have been predicting the end is nigh since time began, and despite every major crises the US survives..... which incidentally other countries have also been through and survived Billions of people do not starve to death everyday. Just because you want an economic disaster, does not mean its going to happen.

And you call this bad news?

Please take your head out of the sand, this is exactly the sort of response that the media has programmed you for... Keep predicting the end of the world america, your doomsday prophets can never recognize reality.

Personally i prefer to believe reality, and not be a doomsday oracle.



[edit on 11-3-2008 by pacificwind]


reply posted on 11-3-2008 @ 08:54 PM by pacificwind
reply to post by downtown436



Not me. We're so far behind other countries in gas prices is laughable. Plus, I buy gas efficient vehicles and use public transportation when possible - so gas prices don't bother me at all.


reply posted on 11-3-2008 @ 08:56 PM by pacificwind
reply to post by Ionized



Ah yes, the hope for populism. Keep thinking if you say it enough, it will happen. Unfortunately, no matter how hard you try to start class warfare, such marxist fantasies aren't a reality here.

I just checked, and I am no where near my city's median income. And yet, I don't have a class warfare mentality. Why? Because I know that such tactics ultimately fail. I am not an optimist, I am a realist. The end is not nigh, although the economy will be hitting its normal business cycle here in the next two quarters.





[edit on 11-3-2008 by pacificwind]


reply posted on 11-3-2008 @ 08:59 PM by pacificwind
reply to post by ParanormalShiver



Your right, I think people thrive off paranoia. I was looking through archives, and - on this board at least - the end is always nigh. Good times means OMG THEY ARE SETTING US UP, bad times mean its time to flee to the country side.

This sort of paranoia goes far beyond typical conspiracy theorists, I frequent a few other boards and the paranoia level isn't nearly this high. I think its just a desperate need for people to want disaster because they think it would be exciting. People think they are somehow enlightened if they are constantly predicting the end, because they have some sort of secret insight that says even the good times still means to run for the hills (its a trap!). Also, its more fun to be a doomsday oracle than a realist. After all, if you proclaim the end is nigh long enough, it will eventually happen. If instead you are a realist, then you are forced to examine the data and you ultimately come the conclusion that - indeed - the so desperately wished for economic disaster is not here.

[edit on 11-3-2008 by pacificwind]
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