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Originally posted by Crakeur
y'all don't read. the live feed starts at 3:30 and it's a discussion about new bank charges
the fed made their statement
Originally posted by OuttaTime
reply to post by majesticgent
I'm just getting a gut feeling that the markets are just plain insolvent, and the investors are waking up. Asia will be he next recipient of the FOMC fallout. Call it the domino effect Bernanke basically said we are on a holding pattern for 2 years, and shareholders don't like those words
Originally posted by majesticgent
reply to post by gorgi
This thread is no different than a Severe Thunderstorm Watch (as stated in the OP). Doesn't necessarily mean that there is or even will be a severe thunderstorm, but the conditions are favorable for one. Change the verbiage to Stock Market Collapse doesn't necessarily mean there will be a collapse, but the conditions are favorable for one because we are in uncharted territory thanks to possible US default, S&P Credit Downgrade, and just now the FED extending a 0% interest rate for at least 2 years.
Originally posted by Crakeur
reply to post by MischeviousElf
the asian markets will probably take another hit. the fed announcing that our economy is in bad shape and in need of low interest rates thru 2013 will be seen as bad news for overseas manufacturers, exporters and the asian investments in the US.
I agree that, before the week is out, we could see more down days here in the states. Today's increases, if sustained, are likely to create a sense of calm for those that panicked and pulled out. This could cause a nice jump in the morning but, once the folks who were buying today see the jump tomorrow, they could pull the proverbial rug out from under the rest. If that happens, it could be a blood bath.
Originally posted by galdur
This mob has owned the police for a very long time so it´s probably a bit problematic but I think the FED must be immediately seized and put into federal receivership as a bankrupt banking entity. I think credible people outside of the corporate owned political system must be found and appointed to try to somehow resolve this crisis. It´s difficult to point to solutions when you´re already falling off the cliff, but this is an obvious try IMHO.
Originally posted by gorgi
There is no possibility of a US default.
What we have done, Larry, also is set a new template. In the future, any president, this one or another one, when they request us to raise the debt ceiling, it will not be clean anymore. This is just the first step. This, we anticipate, will take us into 2013. Whoever the new president is, is probably going to be asking us to raise the debt ceiling again. Then we will go through the process again and see what we can continue to achieve in connection with these debt ceiling requests of presidents to get our financial house in order.
The S&P is a joke and it really doesnt effect the ability of the US to borrow money
and the Fed extending the low interest rates is nothing new.