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What Panic ?

Discussion in 'Political Debate & Discussion' started by Bro. Curtis, Sep 30, 2008.

  1. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>

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    If they need $700 billion to fix this catastrophic crisis, which needs to happen right now, why is Congress taking 2 days off ?

    And the stock market is up 300 pts today ?
     
  2. FriendofSpurgeon

    FriendofSpurgeon Well-Known Member

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    Rosh Hashanah. And it allows each side to breathe before coming back together -- not necessarily a bad thing.

    I expect the markets to continue to go back up today & tomorrow, though probably not back up to where it was Monday am.
     
  3. KenH

    KenH Active Member

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    The Senate is in session today.

    The House took off two days for Rosh Hashanah.

    Well, the DJIA went down about 777 points yesterday and today it is up about 242 points. Yeah, I feel better about it. :)
     
  4. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>

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    I disagree. It's just about halfway there.......

    We'll see, but my bet is we're being manipulated.
     
  5. KenH

    KenH Active Member

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    "Though the blue-chip index rose more than 340 points by early afternoon, the main worry for traders is that a lack of a plan will make it nearly impossible for some companies to fund basic operations like making payroll. Participants in the credit market buy and sell debt that companies use to finance operations.

    The benchmark London Interbank Offered Rate, or LIBOR, that banks charge to lend to one another rose sharply Tuesday, making it more expensive and difficult for consumers and businesses to borrow money. In addition, credit card debt and more than half of adjustable-rate mortgages are tied to LIBOR, so an increase isn't welcome for many consumers."

    - http://biz.yahoo.com/ap/080930/wall_street.html
     
  6. carpro

    carpro Well-Known Member

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    Congress is trying to ensure they don't lose their single digit approval ratings.:tonofbricks:
     
  7. Dragoon68

    Dragoon68 New Member

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    I feel better because socialism didn't win yesterday. I'd rather lose money in the stock market which can be short term and on paper only than to taxes which is money gone forever. I sure don't want to lose freedom which is really expensive to purchase. I hope Congress will have the courage to stick to it.
     
    #7 Dragoon68, Sep 30, 2008
    Last edited by a moderator: Sep 30, 2008
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