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Usually, in times of economic slow down gambling heats up. But, in these times all im reading is vegas is even slowing down. We maybe in store for the biggest redistribution of wealth since the Great Depression. Which may not be a bad thing in a time of political and corporate greed.
Until they start spending the bailout money, it’s gonna be tough. I hear tonight they may use some of the money to buy stock in various banks. The banks can loan out $10 for every $1 in capital they have, so if they took $100 billion and bought preferred stock, the banks could then lend out $1 trillion, which is about 7-8% of US annual GDP
I’ve been buying a few stocks, hoping to trade to make a few $$(not doing well), but i’m still figuring we’ve got till early next year until this starts to look stable.
A few things come to mind:
you don’t want to “Catch a falling knife”Tom Lehrer once sang about leaving college for for adulthood which was
“Sliding down the razor blade of life”
and the last few weeks feel that way.@AmCan 180252 wrote:
Until they start spending the bailout money, it’s gonna be tough.
I agree, but the money is going to the wrong folks. Anyone with real money has been gone for weeks and took thier money with them.
I’m not saying that we should not do bailouts because at this point we have no choice, but IMO we are trusting the crooks that got us here. That is not good.
We desperately need an administration change before things will improve and we need a fundamental and sweping change in Washington before the financial world will truly stabilize.
That being said I think the dow industrials will bottom out somewhere around 8000. It’s a cold bucket of water on peoples heads and a lot of good people have been devastated by this market collapse. But hopefully we can view it as an eight year lesson and NEVER elect greedy extremists who are wholly owned by special interest groups again.
