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Thread: Hold on to That Wallet! The Dow is Plummeetttinngggg

  1. #11
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    IF they sort it out ( again, this time round , etc) -= there will be an almighty bounce. We have seen just a little in London.... we shall see.


    Hey!! But the Jewish NEWYEAR is now preventing a further VOTE until Thursday ( right?) .... What a surprise! What timing ......Just imagine the lucrative bounce that's on the way if .....


    Otherwise-- what a terrible mess! How on earth do they get us into this - apart from spinning money from and into hot air!

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    Wall Street is trying to extort the $700 billion bailout by withholding funds from the credit market. "Buy our bad debt or we'll force the country into depression!" Part of the problem is that the banking industry has undergone an immense consolidation over the last 25-years. It use to be that interstate banks were none existant, most banks being locally (at least at state level) owned. With consolidation we have fewer persons making the major policy decisions in the financial sector. The banks have become to big to fail and it is easier for them to coordinate their lending & business practices. One thing sorely needed in any reform is the breakup of the huge interstate banks (and international banks), with control over the financial system decentralized from the major financial markets such as New York & London.

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    Quote Originally Posted by Æmeric View Post
    Wall Street is trying to extort the $700 billion bailout by withholding funds from the credit market. "Buy our bad debt or we'll force the country into depression!" Part of the problem is that the banking industry has undergone an immense consolidation over the last 25-years. It use to be that interstate banks were none existant, most banks being locally (at least at state level) owned. With consolidation we have fewer persons making the major policy decisions in the financial sector. The banks have become to big to fail and it is easier for them to coordinate their lending & business practices. One thing sorely needed in any reform is the breakup of the huge interstate banks (and international banks), with control over the financial system decentralized from the major financial markets such as New York & London.

    What ever happened to anti-monopoly laws in America? Do you know? How is it currently defined?
    "...The moral man is a lower species than the immoral, a weaker species; indeed - he is a type in regard to morality, but not a type in himself; a copy...the measure of his value lies outside him. ... I assess the power of a will by how much resistance, pain, torture it endures and knows how to turn to its advantage; I do not account the evil and painful character of existence a reproach to it, but hope rather that it will one day be more evil and painful than hitherto..." (Nietzsche)

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    We have anti-monopoly laws? Well they don't seem to have mattered since the Reagan era. In the financial sector what we have is more of a cabal, or cartel, of a few large banks who's directors/CEOs form a closeknit clique. Banking isn't the only industry that has undergone consolidation since the Reagan era. The media industry; Not just mergers & aquisitions, but the number of TV or radio licenses a individual (person or corporation) can own along with rules on cross ownership in individual markets have been scrapped. Many of what use to be locally owned stations or small regional broadcast companies are now owned by the major media companies. Comcast, Cox & Time Warner dominate the cable TV industry. 4 or 5 large corporations control the music sector. The only major industries in the US that really has any competition are the airline sector & fastfood.

    One of the reasons given for allowing consilodation in the banking (and other industries) was that it would allow for greater efficiency, a must in an ever competitive global economy, and lower prices & better service for customers. What happened was in many cases poorer service & higher fees for most persons.
    Last edited by Æmeric; Tuesday, September 30th, 2008 at 06:20 PM. Reason: Spelling.

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    Quote Originally Posted by Æmeric View Post
    [...] fastfood.
    AHHT! PepsiCO. - one of my bluechips.

    One of the reasons given for allowing consilodation in the banking (and other industries) was that it would allow for greater efficiency, a must in an ever competitive global economy, and lower prices & beeter service for customers. What happened was in many cases poorer service & higher fees for most persons.

    I thought this was interesting, and quite descriptive of the American (if not world) economic machine:

    http://www.linfo.org/monopoly.html

    - particularly, the sections strating at "Why Monopolies Can Be Harmful" and on.
    "...The moral man is a lower species than the immoral, a weaker species; indeed - he is a type in regard to morality, but not a type in himself; a copy...the measure of his value lies outside him. ... I assess the power of a will by how much resistance, pain, torture it endures and knows how to turn to its advantage; I do not account the evil and painful character of existence a reproach to it, but hope rather that it will one day be more evil and painful than hitherto..." (Nietzsche)

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    As of right now the DJI is up 349.81 points.


    Dow Jones Industrial Average
    (DJI: ^DJI)
    Index Value: 10,715.26
    Trade Time: 1:32PM ET
    Change: Up 349.81 (3.37%)
    Prev Close: 10,365.45
    Open: 10,371.58


    http://finance.yahoo.com/q?s=^DJI

    I refuse to worry about this.

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    Take advantage of the panic. there are amazing buy opportunites, now. The most important thing is to do your own guidance and remember the sky is not falling, it's just the lemmings going over the cliff.

  8. #18
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    Boomtime..... happy new year ?? ( we shall see........)

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