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Solve the Financial Crisis NOW!!!

AG/DC Oct 10 2008 09:46 AM

OK, Dow has fallen 20% in 10 days. I didn't bother opening my 401(k) statment. Luchbucket's prediction that a major automaker would go down was prescient except tha the didn't go far enough --- in that he didn't predict a worldwide crisis for all automakers. The driving force here seems to be investor confidence. Confidence dives, prices dive, leading to more confidence loss. Confidence must be restored, and that takes leadership. We're not getting it from the administration, nor from Congress, nor from the candidates, nor from the industrial leaders. I think Reese Witherspoon needs to step into the fray. She's darn cute. Yeah, it's the dumbest of all ideas. That's why I need YOU to come up with something better. And when historians look for a turning point, they'll be led here. To this forum. To this thread.

metirish Oct 10 2008 10:14 AM

I listened to an economist from TCD on an Irish radio show this morning and he talked about Central Banks lending money to other banks on the short term like two weeks and he argued that they need to go longer like three months to a year.The price of borrowing money for banks he said has skyrocketed and at this point banks do not want to lend to each other. He argued that all the governments and experts need to be on the same page the world over.This guy made sense to me but I am probably simplifying what he said .

Kong76 Oct 10 2008 11:08 AM

The most important thing for most people to do right now is not panic. If you have a lot of consumer debt, do everything in your power to get rid of it. We made a point the end of last summer to get out of debt sooner than later. A very wise person told me this was coming. Bust your asses at your jobs too! If things get really bad and employers start looking around the room you want them to look at you for a half a second and go onto the next mope. I'd like to buy a couple of the huge stocks. I wanted to buy Citigroup around 20 and I'm glad I didn't. GE is at 19? Boeing around 40? Hard to know when to jump in and decide if it matters if you just do it today and be done with it.

Willets Point Oct 10 2008 11:14 AM

I think this is what we need to do to stop the panic:

metirish Oct 10 2008 08:29 PM

GM in merger talks with Chrysler right now...

metirish Oct 14 2008 09:04 AM

Markets are rebounding for a few days. In Ireland the Minister for Finance Brian Lenihan is presenting the toughest Budget in decades , he just announced that Government Ministers will take a 10 per cent pay cut , as will other Government types. I'm listening live on radio but he is getting shouted down a lot.

AG/DC Oct 14 2008 10:29 AM

A 936-point Columbus Day rally. I'll take that shit.

seawolf17 Oct 14 2008 10:57 AM

AG/DC wrote: A 936-point Columbus Day rally. I'll take that shit. Yeah, but of course A-Rod grounded into a double play and struck out with the bases loaded during the rally. Bum.

Fman99 Oct 14 2008 11:59 AM

Kent Brockman: Hordes of panicky people seem to be evacuating the town for some unknown reason. Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside? Professor: Mmm, yes I would, Kent.

A Boy Named Seo Oct 15 2008 04:44 PM

more music charts

metirish Oct 15 2008 04:50 PM

Some pretty funny stuff there http://graphjam.com/

AG/DC Oct 20 2008 08:13 AM

Dow back over 9,000. I think it goes like this, 1) Obama gets elected 2) Dow shoots through the roof 4) I get my house 5) Christmas is magic. Somewhere in there, I have to remember not to get fired.