More Money
$85 billion wasn't enough for AIG. They just got another $37.8 billion "loan" from the Federal Reserve. Meanwhile, the executives are away on a $400,000 corporate retreat.
It's all exasperating.
The Dow plummeted 678 points today to close at 8579. That's just stunning. The government keeps throwing money at all of these big name businesses but the stock market is hellbent on dropping like a rock. I'm sure it's an excellent time to buy, assuming you've got the money and the stomach to handle the ride.
Gold is $930/ounce!
All of this should be a clue to the people running the show, but it's not sinking in. I think I heard that Pelosi's talking about another stimulus package. Doesn't Congress realize that most people used the last one to pay off bills?
And the upcoming election is far from reassuring.
I'm going to see Testament at The Webster Theater in Hartford tomorrow night. With all that's going on in the world these days, apocalyptic thrash metal seems fitting. "The Formation of Damnation" indeed.
\_/
DED
It's all exasperating.
The Dow plummeted 678 points today to close at 8579. That's just stunning. The government keeps throwing money at all of these big name businesses but the stock market is hellbent on dropping like a rock. I'm sure it's an excellent time to buy, assuming you've got the money and the stomach to handle the ride.
Gold is $930/ounce!
All of this should be a clue to the people running the show, but it's not sinking in. I think I heard that Pelosi's talking about another stimulus package. Doesn't Congress realize that most people used the last one to pay off bills?
And the upcoming election is far from reassuring.
I'm going to see Testament at The Webster Theater in Hartford tomorrow night. With all that's going on in the world these days, apocalyptic thrash metal seems fitting. "The Formation of Damnation" indeed.
\_/
DED
Labels: economy, government_waste, investing, music
posted by DED at 9:00 PM
6 Comments:
Strange days, indeed.
They beat down gold today, but the yellow metal will
not be bested in its war with fiat.
Well, it's Saturday and Dubya just came out and spoke early after meeting with the G7 Finance Ministers. He said nothing new. Wait. We must be patient.
He may as well have just performed another soft shoe.
I just discovered your blog from your comment in dcup's post, "Craving Economics." I like your common sense approach and the fact that you "link" to your sources, instead of just spouting opinions.
I hope you keep posting.
Thanks, Madam Z!
I think that it's essential to offer links to back up one's arguments. It helps to diminish the "raving lunatic" factor that is all too common in the blogosphere. :)
Time for blogging is greatly diminished these days (it's easier to read/comment on others) as I'm focused more on creative writing. I'm in the midst of a writers workshop and must maximize what free time I have getting my work critiqued so that I can spend the Winter submitting manuscripts for publication.
I do hope to return to "weekly" posts at some point.
I am so utterly repulsed by our government and this destruction of what should be free-markets. And, it is a giant power-grab by the Fed, Treasury, etc. And, massive redistribution of (corporate) wealth and directing where we put our investment funds. It must stop soon, or we might as well get rid of private equity altogether, since the government alone will decide where to put all the funds.
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