We need help quick...the DOW (stock market) lost 777 points yesterday. We're all doomed!
Oops...wait a second...what's that? The DOW (stock market) was up 485 points today? How can that be? I thought the world was coming to an end?!
The point is, folks, that no one knows. And we DEFINITELY shouldn't be basing any decisions on how the stock market reacts. I was a stock broker for 5 years, so I'm not a dolt here. Since the tech boom in the late 90's, how the market does day to day is largely based on emotion, speculation, and hope.
LONG gone are the days of your grandparents where companies were evaluated primarily on the fundamentals and past performance.
Are the fundamentals still looked at? Of course. But use just the past two days as proof that no one knows for sure what $700 Billion will do. By the way, did you know that the $700 Billion figure was pulled out of thin air? Seriously. That is what a Treasury Spokesperson was quoted as saying regarding how they decided upon $700 Billion. They just knew that it had to be a high number. Nice.
Now, when I was a stock broker, I wasn't a banking expert or anything, so I can't speak specifically regarding the so-called "credit crisis". All I can say is whether it's a loan, a bailout, an investment...whatever...it's unprecedented. To push it through in a week or less is utterly ridiculous!
Fundamentally, I was against the bailout from the get go. Selfishly, I wanted the bailout so that I'd have a little bit of time to make sure to get debt free before the next foot dropped. Now, I'm back to leaning towards being against the bailout.
Do companies really need to take loans to make payroll??? If that's the case, those companies are in trouble anyway, and a fix to the "credit crisis" won't put a hurt on them to start using their heads. HELLO! I understand that loans are needed to expand business, but loans shouldn't be used to fulfill basic needs of a companies operation...like paying their employees. Come on.
Fix the problems, hold people accountable, and get a grip, period. If you made bad investments and want a bailout...I know several European countries where that kind of thing is right up their alley. Can't hack it in a capitalistic society, don't as me to pay for your mistakes. Suck it up, accept failure, and do better next time. THAT's the American Way!
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You've certainly covered alot in these new posts. And, I can't comment on it all--I have birthday parties to go to!?!!?! haha But, and you are right much of the time. Unfortunately, businesses are needing those lines to expand business, buy products, pay payrolls. And, you are right if they need it to do those basic things, they probably are not in very good shape. Why cannot that be said right out? But, Bush basically was saying that is how the businesses are run. Not right. Just how it is. I'm starting to think that regular people should be in office instead of these politicians who can't tell like it is. Now, the lesser of two evils, I do think would be Obama right now. What's four years of a little socialism?!? I kid. But, seriously, I think a break for the little guy is what is needed right now. Businesses need to slow it down, get it right--everything that you mentioned in the first post is happening right now. A republican right now is not necessarily the answer. Although, my heart is still very republican--I'm still very torn. But, I truly do not trust what McCain has to say. Have a great day. Thanks for letting me voice some things. As for my stock article, I don't necessarily think that a democrat is going to be the biggest help in that area right now. This country is in a bit of a cycle right now. And, it will turn around. I'm praying about it right now. We need God's blessing on our economy and country right now. Take care.
I agree about McCain. At this point, IF I voted for McCain, it would be more of a vote against Obama than anything. I'm still standing strong with Palin, but I just don't think she fits as well with McCain...and I don't think she'd be able to do much as VP in Washington.
I just hope that when Obama wins, that the trio of Obama, Pelosi, and Reed don't do things that can't be undone in 4 years.
I'm looking to Bobby Jindal, the Governor of Louisana, to make a move in 4 years. He's Awesome.
I hope your enjoyed your Birthday parth that you went to. From the looks of the pictures, it looks like you did. :)
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