Feb 9, 2009, Obama Speeks Primetime, Treasury Dept Unvails Bail Out Plan, What if Reinhardt Is Right

www.nytimes.com...

February 9, 2009
Bailout Announcement Pushed Back to Tuesday
By SHARON OTTERMAN

With Congress wrangling over the details of the $800 billion-plus stimulus package, the Treasury Department said on Sunday that it would cede the political stage to those negotiations and delay until Tuesday the rollout of the Obama administration’s multibillion dollar plan to assist the nation’s troubled banking system.

Treasury Secretary Timothy F. Geithner had been scheduled on Monday to present the broad outlines on how his department would spend remaining $350 billion of the bailout funds approved last year by Congress. Instead, economic officials “will be working and consulting with the senators throughout the day,” the Treasury Department said in a statement.

“With record high job losses, and weakening economic forecasts, we’re focused on working with Congress to pass an economic recovery bill so we can create the jobs and make the investments necessary to get our economy moving again,” the statement said.

President Obama, who has been pressing Congress for rapid action on the stimulus package, will appeal directly to the public this week to underscore the urgency of passing a stimulus plan quickly. Before holding a prime-time news conference on Monday night, Mr. Obama will first speak in an afternoon town-hall meeting in Elkhart, Ind., a town with an unemployment rate of 15.3 percent, more than double the national average. On Tuesday, he will hold a similar event in Fort Myers, Fla., where unemployment is 10 percent.

This is my all time favorite commercial. Hadn't seen this...but hey I have the feeling R. is a young genius...

Thanks for the laugh!!

Reinhardt's in a chatroom right now. You can find the information on wiredpirate.com

He's basically refuting the youtube video posted a few pages earlier.

Something interesting on the September 15 date:

Here

On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.

Money was being removed electronically.

The treasury tried to help with $150 Billion.

But could not stem the tide.

It was an electronic run on the banks

The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.

So some big cats withdrawed their money... maybe that's what happens monday.

Originally posted by Gando702
Reinhardt's in a chatroom right now. You can find the information on wiredpirate.com

He's basically refuting the youtube video posted a few pages earlier.

Where is he at?

I, for one, was extremely shocked at what the market did Friday. With close to 600,000 jobs being lost in January coupled with the way earnings reports have gone, I fully expected the market to be down abou -150 or more. But, I was wrong, completely wrong.

I chekced all day at work Friday expecting to see the market head down. I was hoping to buy low, but no, an abnormality occured and screwed everything up. With that said, even with out reading much from this Reinhardt fellow(he's a bit hard to follow at times), I still expect the market to fall this week. Will the fall be as bad as he says? I can't say, but there are a few more big companies, like Coke and Kraft, who have to put out earnings. If both of them post greater than expected losses, the market, SHOULD, and I will emphasize, SHOULD, fall. Could his information also possibly be tied to earnings reports as well? The only things these bailouts do is help these companies pad their income, balance, and cash flow statements.

reply to post by ChrisJr03


Dude. People sometimes are driven by emotions. Hope... for the new ``stimulus``... You have to feel the markets to know how the markets feel that particular day. Friday was an ``emotion market``... totally in their illusions.

Monday might be the same, but I doubt it.

We have tried these programs before and they do not work. Even it the new program ( www.savingtoinvest.com... ) saves a few thousand more homeowners it won't solve the unemployment and economic problems. By making freddie and fannie bigger, we are just creating a bigger time bomb to go off again in the future. Don't we ever learn!

Originally posted by Vitchilo
Something interesting on the September 15 date:

Here

On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.

Money was being removed electronically.

The treasury tried to help with $150 Billion.

But could not stem the tide.

It was an electronic run on the banks

The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.

Exactly! This was my hunch....good find!

So some big cats withdrawed their money... maybe that's what happens monday.

You know, for the past several weeks, the market has not been impressive at all but there is one thing missing that would give this any credability: The backing of many Economists. If economists look at this prediction and verify it as probable, then I might start "believing." From watching the news, there are people trying to help the economy and there are economists out there who think the dollar is not doing well but seriously, by definition this prediction is false until the event is supposed to occur. So, good luck on the prediction becoming truth but do not think you know the future until you live it.

It looks as if it's all lining up.

Israeli elections

US Economic Stimulus Part Deux

Legatus meetings wrapping up

Pope and Vatican in the news

Lunar Eclipse

What an exciting week...

Originally posted by Gando702
It looks as if it's all lining up.

Israeli elections

US Economic Stimulus Part Deux

Legatus meetings wrapping up

Pope and Vatican in the news

Lunar Eclipse

What an exciting week...

Add into the mix the IMF came out this weekend and said we are indeed in a depression..... if there is no tanking this week I dont know what will....

reply to post by tjeffersonsghost


what is going to happen tomorrow is that citibank is not going to open. Go to globalreport.com. It will tell all about it.

The futures are down..oooooooooooooooooooooooooooo

reply to post by tjeffersonsghost


I'm just wondering why Asia Markets are up at this point...pinning all their hopes on US? Apparently they're priming the Market for a Pump-n-Dump at this rate when our Stimulus Bill might not pass after Senate removed that $40 Bln for State Fiscial Assistance...

[edit on 2/8/2009 by Hx3_1963]

Originally posted by Hx3_1963
reply to post by tjeffersonsghost

 

I'm just wondering why Asia Markets are up at this point...pinning all their hopes on US? Apparently they're priming the Market for a Pump-n-Dump at this rate when our Stimulus Bill might not pass after Senate removed that $40 Bln for State Fiscial Assistance...

[edit on 2/8/2009 by Hx3_1963]

Usually the Asian markets lag the US markets. Once in awhile they will lead but its mostly the other way around....when the US market has a good tanking tomorrow and all of this week Im sure they will follow. The Asian markets are up yet our futures are down 65.....

[edit on 8-2-2009 by tjeffersonsghost]

Originally posted by Hx3_1963
reply to post by tjeffersonsghost

 

The checks haven't been cashed yet, according to reinhardt. Give a little time.

edit: also, for some reason reinhardt took down his "I told you so" message on his page. Maybe he's rethinking his prophecy because speeches and bailout votes are getting pushed back.


[edit on 8-2-2009 by Gando702]

reply to post by Hx3_1963


I was wondering the same thing. I tell ya this stuff is gonna drive me to the hard stuff

Originally posted by Gando702

Originally posted by Hx3_1963
reply to post by tjeffersonsghost

 

The checks haven't been cashed yet, according to reinhardt. Give a little time.

They havent cashed? I thought tomorrow was cash date? Is he changing the times? Is it Friday the 13th? How do you know he says they havent cashed?

reply to post by reluctantpawn


I'm starting to think that Reinhardt is a large part of this whole mess.... Perhaps he feels bad. I don't know... But there is something creepy about him and I can't put my finger on it. He obviously gets his kicks out of posting cryptic messages... Perhaps he is himself a MAJOR Player.... If so he surely would know specific dates and events.... Just my 2 cents. No matter what.... I know in my soul that we are going down and going down fast!