Rolling US Economy Into The Shitbin Thread

They may not be able to enforce in the strictest sense of the word, but they can threaten them with the prospect of withdrawing the money or not giving it to them in the first place.

I would rather see Kondratieff's point in terms of money supply. We have had a massive and unsustainable balloon in the money supply followed by a massive contraction that probably get's us out of too much inflation. whilst we shouldn't go back to those conditions we have to do something to mitigate the short to medium term effects of that correction, i.e. increase the money supply, quickly and bring it down gently. The pain has to be mitigated now then we think about fixing. Think of this as the shot of morphine for the ride in the ambulance, the amputation comes later.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

specifically:

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

damnit

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/day_of_reckoning.html

http://edition.cnn.com/2008/US/10/08/chicago.evictions/index.html?iref=mpstoryview

man, this sheriff just makes me go all cuddlestein mountain. i immediately thought of david strathairn's sheriff in matewan

xp
And that's 3 in a row. We have a winner!

I'm a lot hung over

http://images.ucomics.com/comics/db/2008/db081009.gif

nvestors looked to extend the frenetic selling on Wall Street Friday, adding to yet another global sell-off on concerns that even low interest rates won't help end the worsening credit crisis. Dow Jones industrials futures plunged 250 points ahead of the opening bell in New York.

The guardian's economics coverage continues to be good through this:

http://www.guardian.co.uk/politics/2008/oct/10/gordonbrown-labour

other than larry elliot on occasion guardian hasnt been that great on this. On the other hand the Times has been ludicrous and abysmal. Telegraph has been better than the Guardian though. In the real world Eoubini and Faber have been good reads. Al-Jazeerav English has been good too (and http://www.maxkeiser.com/). and Peter Schiff on Fox News(!) has been on at this for about 7 years and is a good watch

Roubini that should say

FT has been kicking ass as well.

Michael Rowbotham has some interesting stuff relating to the credit bubble. Though was mainly written in mid 1990s before this went into complete lunacy

DEEP BREATH HERE WE GO

Dow down 900 to start.

I'll be your ticker, reflect what you are.

er I meant 300 but there's still time

holy fuck

lol market tampering

Below 8000 now.

Dow dives 7,6% on opening (just like Europe has been doing all day)

xpost

Ok everyone relax, it's back above 8000.

Pulled up fast to -4% (8100)

do u understand derivatives

When I see that word I think of Brian dePalma films.

Does El Tomboto still think we're NOR rolling into the shitbin?

btw Obama, do you still WANNA be president?

^NOT rolling

dropping again. 1100 points triggers an hour's stop, right?

DJI 8,323.83 -255.36 (-2.98%) 09:43

It's up, up and awaaay!

14,000 or bust!

DJI 8,417.42 -161.77 (-1.89%) 09:45

It's making the HUEG European losses look a tiny bit less HUEG now as well.

Dead cat bounce

(actually I have no idea whether it is or it isn't but I just like saying it)

http://www.davemanuel.com/images/dead_cat_bounce.jpg

haha

o u crazy markets

http://i37.tinypic.com/29nvu4x.jpg

how high did the DOW get at its highest?

14 something

which i think was exactly a year ago today

eek

Date	Open	High	Low	Close	Volume	Adj Close*
10-Oct-07	14,165.02	14,225.66	13,963.26	14,078.69	3,044,760,000	14,078.69

well you get the idea

"3:39pm:
George Bush tried to calm the panic. He announced steps to root out fraud in the markets and promises "aggressive" global action. "We are sending out an unmistakable signal that we are in this together and we will come through this together," he said. He insisted that the US economy is "resilient". But, on the markets the immediate reaction to his brief speech was negative. The Dow and FTSE were lower after he finished."

BOMB THE NIKKEI

Wait who's George Bush?

His first response to Katrina was to root out fraud as well (insurance, in that case).

I could have sold my stocks a couple weeks ago and bought back in much lower, instead of sticking to that "leave it in for the long term" old man schtick. Hindsight is a bitch. Let's just hope nothing I own goes bankrupt.

Yeah, now I'm starting to worry too. I am of the "own it and never touch it" school but this is getting scary.

I think I should have at least sold my smaller stocks and put everything into solid too-big-to-fail companies. Again, hindsight is a bitch.

Anything that bounces right back I just don't trust. A V shaped bottom seems something to steer clear of to me

i hope that no cats are hurt in the making of this recession

i had a cat once. then the stock market ATE IT.

predictions where this will close today? i'm saying -6.81%