Originally posted by stefanoc
just to be clear, recession is NOT even official yet. things arent looking good however.
quote:
Originally posted by ninetyninej
yes by definition it is 2 consecutive quarters so in actuality an official ruling of a recession can't be declared until 6 months into it but merrill lynch has already had the foresight to acknowledge the recession that has begun and the others are either in denial or predict it later, such as Q3 or Q4 of this year.
but make no mistake, it doesn't take a wall street analyst to see that it has begun.
enjoy your stay everyone :)
djGT
quote:
Originally posted by stefanoc
i was just going to mention the risk of etrade but just realized theyre FDIC insured (i guess every public company is FDIC insured). does anyone know how FDIC really works? do they really give your money back right away or do they first try to liquidate a company and then try to pay off liabilities in that way?
The FEDs will return your money back up to $100,000 for an individual.
The market is sure taking another big dump today. We need more helicopters! :wtf:
ninetyninej
quote:
Originally posted by djGT
The FEDs will return your money back up to $100,000 for an individual.
The market is sure taking another big dump today. We need more helicopters! :wtf:
and whats funny is the emergency 75bps cut the dip s at the fed did yesterday morning that brought the dow back up from a 464 point drop, only held it for one day!
as of this post the dow is at 11,791, almost as low as when it the market opened yesterday morning causing the emergency cut, pffffffft.
groovedaddy21
Jim Cramer on Mad Money calls for investigation of the Fed
Originally posted by ninetyninej
and whats funny is the emergency 75bps cut the dip s at the fed did yesterday morning that brought the dow back up from a 464 point drop, only held it for one day!
as of this post the dow is at 11,791, almost as low as when it the market opened yesterday morning causing the emergency cut, pffffffft.
Wall street is expecting another 3/4 point rate cut next week. :crazy: Just make it 0% already then everyone can be rich. Oh look, those helicopters just arrived, DOW is almost back to previous close. :wtf:
R!CH
ugh wall street is so fickle... their speculation. they speculate on weather forecasts and create their own fluctuations based on it. the fed needs to get off its knees, reread its charter and stick to controlling inflation above all else. if they can't accomplish that, they are basically useless. let the free market sort out economic issues. we are still a free market capitalist economy are we not? sometimes i really wonder. if i see another rate cut next week i'm gonna vomit into my wallet.
toolman667
Rich, didn't you know that the fed isnt audited, and its a private bank? And prints money from thin air to create the "economy" you see. No gold backs it anymore (for a long time), and these recessions seem to only happen when people are profiting from war... and the rich get richer and the poor get poorer...
Its about as Federal as FedEX.
This recession is used to weaken the people during the war into thinking that the government is their saviors.
And to not listen to Ron Pauls message of freedom and liberty. He wants to dismantle the IRS, and the Fed, and save our "Constitution"!
R!CH
quote:
Originally posted by toolman667
Rich, didn't you know that the fed isnt audited, and its a private bank? And prints money from thin air to create the "economy" you see. No gold backs it anymore (for a long time), and these recessions seem to only happen when people are profiting from war... and the rich get richer and the poor get poorer...
Its about as Federal as FedEX.
This recession is used to weaken the people during the war into thinking that the government is their saviors.
And to not listen to Ron Pauls message of freedom and liberty. He wants to dismantle the IRS, and the Fed, and save our "Constitution"!
yeah i know all this, but i'm accustomed to a responsible chairman of the fed :o one who expresses concern over the rate of inflation and works to keep the dollar strong against foreign currencies. you can really see through the hypocracy of bush when he talks about his distaste for taxes when in fact printing money is essentially a flat tax and all we've been doing since his rule is printing more and more money to pay for his astronomical spending. i like how the government has to pay interest on it's own legal tender too, genius :rolleyes:. the back story to the creation of the federal reserve act is pretty makavelian as well. this country was basically sold to a handful of powerful bankers.
a good quote to always keep in mind...
" The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists. "
- Ernest Hemingway
ninetyninej
Going bankrupt: The US's greatest threat
2008-01-24 — atimes.com
'The military adventurers of the George W Bush administration have much in common with the corporate leaders of the defunct energy company Enron. Both groups of men thought that they were the "smartest guys in the room",'
Originally posted by R!CH
the back story to the creation of the federal reserve act is pretty makavelian as well. this country was basically sold to a handful of powerful bankers.
yeap.
the fed reserve is the biggest most unconstitutional misleading act of the last 100 years imho.
they tried amending the constitution in late 1800s for a central bank and i forget which president knocked it down and called those promoting it 'a den a vipers' who let greed and power take over their good judgment and what was right for the country.
then in 1913 after a handful of power players secretly met and coerced congress to pass the 'federal reserve act' ... and i believe even JFK tried abolishing it during his presidency if im not mistaken:
The chief of the bipartisan National Monetary Commission was financial expert and Senate Republican leader Nelson Aldrich. Aldrich set up two commissions — one to study the American monetary system in depth and the other, headed by Aldrich himself, to study the European central-banking systems and report on them.[5] Aldrich went to Europe opposed to centralized banking, but after viewing Germany's banking system came away believing that a centralized bank was better than the government-issued bond system that he had previously supported. Centralized banking was met with much opposition from politicians, who were suspicious of a central bank and who charged that Aldrich was biased due to his close ties to wealthy bankers such as J.P. Morgan and his daughter's marriage to John D. Rockefeller, Jr. In 1910, Aldrich and executives representing the banks of J.P. Morgan, Rockefeller, and Kuhn, Loeb, & Co., secluded themselves for 10 days at Jekyll Island, Georgia.[5] The executives included Frank A. Vanderlip, president of the National City Bank of New York, associated with the Rockefellers; Henry Davison, senior partner of J.P. Morgan Company; Charles D. Norton, president of the First National Bank of New York; and Col. Edward House, who would later become President Woodrow Wilson's closest adviser and founder of the Council on Foreign Relations.[6] There, Paul Warburg of Kuhn, Loeb, & Co. directed the proceedings and wrote the primary features of what would be called the Aldrich Plan. Warburg would later write that "The matter of a uniform discount rate (interest rate) was discussed and settled at Jekyll Island." Vanderlip wrote in his 1935 autobiography From Farmboy to Financier :
I was as secretive, indeed I was as furtive as any conspirator. Discovery, we knew, simply must not happen, or else all our time and effort would have been wasted. If it were to be exposed that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress…I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.”
Despite meeting in secret, from both the public and the government, the importance of the Jekyll Island meeting was revealed three years after the Federal Reserve Act was passed; when journalist Bertie Charles Forbes wrote an article about the "hunting trip" in 1916.
You guys have to read this book ... it will open your eyes to the corruption and the truth behind the fed reserve:
The Creature from Jekyll Island : A Second Look at the Federal Reserve (Paperback)
by G. Edward Griffin (Author)
Editorial Reviews
Publisher/Editor, Dan Smoot Report
"A superb analysis deserving serious attention by all Americans. Be prepared for one heck of a journey through time and mind."
Ron Paul
Publisher/Editor, Ron Paul Report
Member, House Banking Committee
"What every American needs to know about central bank power. A gripping adventure into the secret world of the international banking cartel."
Mark Thornton
Asst. Professor of Economics, Auburn Univ.
Coordinator Academic Affairs,
Ludwig von Mises Institute
"A magnificent accomplishment - a train load of heavy history, organized so well and written in such a relaxed and easy style that it captivated me. I hated to put it down."
Dan Smoot
Publisher/Editor, Dan Smoot Report
the 'central bank system' is a ponzi scheme at best and what rich posted above is dead on.
MikeLord
did everyone forget that a key requirement for a recession is several consecutive months of job loss???
Q4 2007++ payroll growth
let me keep posting a bunch of articles that a bunch of ******s are writing to try and scare people to make stupid financial moves to cause the dumb recession
