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Dow crashing AGAIN 10,630.59 -179.26

2K views 18 replies 12 participants last post by  Octomonkey 
#1 ·
Going down again after being up all day...wild rides!
10,630.59 -179.26
 
#4 ·
First, not to be picky but I wouldn't label a decline as a crash.

That out of the way..

Bernanke is an idiot. If we are truly on the verge of another recession, how in the hell is keeping interest rates near 0 going to do any good. What's he going to do in another recession, lower the rate?

When he starts QE3, China could very well unpeg their currency from ours. China's inflation is through the roof right now.

Let's see those stocks drop! 9,000, here we come! Lets get this crisis done and out of the way.
 
#9 ·
Leaving the rates near zero means that there wont be any return if you put your money in savings accounts. They are chasing people into stocks. This whole thing is very chaotic, like no one in washington knows what way to turn so they are turning in every direction but the one they actually need to be turning.
 
#10 ·
I thought I heard something on the radio this morning about the Treasury buying up its own bonds to help stabilize the market. Isn't that like borrowing money from your Visa card then saying that your MasterCard balance looks much better?

The other thing that hit me was an insurance company commercial "For whatever your American dream may be... an apartment, a condo or a house..."

In just a few years the American dream has gone from owning a big house with a yard in a nice neighborhood to "Hey, honey, things are going to get better. I'll get a job and we'll find one of those studio apartments so we can sleep indoors."

I'll believe things are better when there are no more fights over which guy gets to sleep under the most rain-proof tree outside the apartment building. The Wizards of Wall Street and Washington can go **** themselves.
 
#12 ·
They don't want a crash so they will shore it up someway. Even if they buy it thru a separate account so we don't know where it came from .They don't want this all at once. Remember if you boil a frog you don't throw him in hot water. You slowly bring up the temperature. You still get boiled but one takes longer.
 
#14 ·
I'm beginning to think it's being artificially propped up. It's climbing like there is no tomorrow, in a few minutes, from -170 to +265
If this is normal, I can see why people commit suicide.
I think it's the money men taking every last penny they can and dumping it before the closing.
 
#16 ·
all Bernanke did was tell the Street:

  1. Anything with a timeline of 2 years or under won't be affected by the Fed raising rates...
  2. Say "HELLO" to $2500K gold and triple digit silver
  3. fundamentally what was wrong with the economy before Bernanke spoke... is still wrong after..
 
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