Hopefully John won’t start crying. They had a chance to restore investor confidence and instead chose to behave like complete idiots.
Few people in the real world believe your bullshit any more, Barry . You might have to try actually acting like an adult at some point in your life.
Let’s hope this is just the usual Wall Street game playing and not the beginning of a big crash.
They gave investors no reason to believe they were serious about the debt. Something significant needs to happen, like the leadership of the White House and Congress announcing they won’t run for re-election. Otherwise it is all downhill.
German market is even more panicky (no surprise in that regard).
They have spent over two years telling us the recession is over when the bottom had not even been reached. They adjusted the figures to appear better but with the release of “Corrected information last week along with “borrow to decrease debt”.
No panic, its just profit taking by the rich. They need to move some money to more stable forms of wealth. Our continuous blind investment into the stock market in forms of 401Ks and other retirement plans ensures that we’ll prop the market back up so the wealthy can continue in the profit taking.
It works like this……… they sell off…. it won’t drop much lower than 10,000(because us worker drones continue to pump it up)….. they buy…. we continue to pump an endless stream of money into the market…… market gets up to about 13,000 then they sell off again. Taking all of the profits we were suppose to get for our retirement. It goes back down….. they invest when its down to about 10,000…. rinse and repeat as necessary.
President Dumbo won’t care.
He probably remembers Clinton (and Reno) crashing the stock market in 2000 after the DoJ went after Microsoft.
Clinton propaganda turned it into the .com (dot com) bubble burst and reversed the blame somewhat.
If we see 11,000 or below 10,000, keep an eye out for tall tales from the White House fingering some other scapegoat.
History always repeats.
Watch the Chinese. If they start to dump their 2- 3 Trillion U.S. dollars it’s curtains.
suytssy, you can only kick that can down the track for so long until you run out of other peoples money. The printing presses won’t help this time. If they start up again the Chinese will dump the U.S dollar.
Another key is Europe. China can’t solve Italy’s and Spain’s problems.