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After yesterday's 7% drop on the Dow Jones and nearly 9% drop on the S&P 500, stock futures rose on hopes that the $700 billion bailout-rescue plan will be passed. The Senate Banking Committee's chairman, Christopher Dodd, and ranking Republican Judd Gregg, as well as Barack Obama, said a deal would pass, possibly tomorrow. While a rally might be possible, central banks are apparently scrambling to "relieve market strain," and analyst think interest rates might be cut because, as CNBC reports, "their massive fund injections have done little to ease strains that are threatening to become a bigger systemic breakdown that could endanger the global economy." President Bush will be addressing the bailout plan at 8:45 a.m. right before the market open.
Wall Street May Rally on Bailout Hope
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lower interset rates? you mean the reason why we were in this whole boondoggle, ridiculously low interest rates, will be even lower?
Thats right lil Hitler, nothing says "common sense" in Washington like fighting a fire with gasoline.
Rally? The market will continue to go up and down in large part due to rumors, perceptions and speculation. Gains and losses of 200, 300, or 400 points will be commonplace. This is just the beginning of a long, troubled period for the American economy and as credit markets further tighten, many will lose their jobs. Another legacy of the Bush/Paulson Administration and of the move to imaginative financial "instruments." It used to be people invested in companies. Now, there are derivatives, hedge funds, short-selling, securitization of risky mortgage pools, etc.
Not for the faint-of-heart.
There is no "hope" with this bailout.
The bail-out is bullshit. It's like handing over your life savings to some idiot who just lost his shirt in a casino who has no intention of leaving the casino.
The solution is to end the affirmative-action lending practices that got the economy into this mess in the first place. Unfortunately politicians and the media are so up to their eyeballs in political correctness, they don't dare even mention it let alone fix it.
The bail-out is bullshit. It's like handing over your life savings to some idiot who just lost his shirt in a casino who has no intention of leaving the casino.
Truly excellent analogy. Think I'll use that one.
Unfortunately politicians and the media are so up to their eyeballs in political correctness, they don't dare even mention it let alone fix it.
The other elephant in the room that will NEVER be mentioned is the economic effect of spending untold amounts of money PER MINUTE waging wars around the globe.
But, the gov just prints more money.
What a mechanism un-based currency is, huh? They can take money from you without even reaching in your pocket.
I invest in things I can touch and have long been scoffed at for that approach. I also have no debt and own property. Glad I trusted my intuition and not the advice of "experts".