Dows largest one day percentage drop since July 19, 2002. Lehman Bros declares bankruptcy. They have been around for 156 years. American International Group, the countries largest insurance company is down 60% today to close at just over $5. How will this affect the big 3s (US) $25 billion low cost loan from the Fed? Pressure is on to lower interest rates at the Fed meeting tomorrow. GM stock went down 12%. All this and crude oil is down about $7/bbl to around $96/bbl.

 

listen buddy, nobody around here wants to hear this doom and gloom news! you better find something positive to post. everything is great!!!





the head in the sand crew is going to slam you.

 

It's not about having your head in the sand, the question is what is complaining about it going to do? Absolutely nothing.

 

But you complain about people discussing it. Discussion is not the same as complaining. There is a lot we can do, put our money in safe investments or ones that take advantage of this type of market. Write your congressman and tell them we need to end the Federal Reserve, the bubble and inflation makers.

 

Keeping this conversation relevant to AN/FV...

It should be "interesting" to see what effect this has on GM, who is trying to get some additional capital (i.e. big loans - 'bout $10B worth) before the end of the year. Assuming that funds are available, the cost of borrowing that money surely has gone up in the past couple of days.

If the federal not-a-bailout loan package doesn't come through prior to the election, then GM could be in huge trouble.

 

You are spot-on there bud.
It would be the best thing we could do, and it would be the worst thing we could do at the same time. It would get us out from under the monetary control of a private group of bankers who "print money to make it" - something called "counterfeiting" if any other person or group in the USA does it, but OK for them.
However, it would cause the US Dollar to fall against everything else in the world and could cause a huge upheaval for a while. So long as we kept our dollar tied to something tangible - like gold - we would pull out of any depression the rollover would cause. Accounting for all the printed currency that is already out there and having enough gold (or whatever tangible asset) to back the cash with is another story.

I would go 100% for eliminating the Fed Res from our monetary system.

Another thing we can all do is GET OUT OF DEBT.
Every one of the problems listed in the first post can be directly related to debt - public or private. Mortgages. Trade deficit - you name it.
If we will start living according to our means, we will start to affect the markets. Once we have our finances in order, we start putting people in offices to do the same for our local, state, and federal governments.

And PLEASE - STOP BUYING JUNK. The only thing worse than being in debt is going into debt to buy junk from overseas. Go to WalMart, buy a platic lawn ornament for halloween that was made in China, and put it on your Visa card... I will see it happen just as sure as I'm breathing.

WE CAN MAKE A DIFFERENCE. Discussion like this is how to start it - grass-roots style.

And if there is a single body reading these posts on this board that IS NOT REGISTERED TO VOTE, you better go to your local library and get it done ASAP.
You have NO VOICE if you don't use it.

 

I've tried having conversations with you in the past, but you ignore people who don't agree with you. You only like to respond to those who follow your mantra.

Safe investments? . . yeah, like that's not the same advice anybody could get from an economics class or their uncle. Take advantage of the market? . . . yeah, every talking head on the news has said the same thing. Ending the Federal Reserve? . . . only in the minds of you and Ron Paul buddy. Aint going to happen, no matter how much you want it to. I'm not saying it's right or wrong, but it isn't going to happen.

 

And the downward spiral continues with AIG....

 

Probably not because Americans are willing to take it up the _____ as long as they have affordable gas, cable TV, and cold beer.

It won't be until it is too late that we do something. But you have to start somewhere. Have you seen this movie yet? = http://video.google.com/videoplay?do...+as+debt&hl=en Money as Debt.

Back to autos, Can GM survive if the American automarket shrinks to 13 million units a year? I almost think the big 3 could do well if gas stayed low (under $4) for 2-3 years to give them enough time to get 40mpg and plug-in and hybrids cars out. Then if prices rise they have an entire new segment of cars to sell and won't have to compete as much with used cars because there almost are no 40mpg cars in the USA.

 

Rick Wagoner was just interviewed on CNBC and was saying how important it is for GM to get the $25 billion low cost loans approved to US auto manufacturers and their suppliers before Congress breaks in 2 weeks. He said it has been approved but not funded. When asked what is the number one thing on consumers minds when purchasing a vehicle, he responded fuel mileage has been for months, but the recent turmoil in the financial markets causing the tightening of credit is coming on strong.

 

so if Fannie Mae and Freddie mac didn't get the bail out and then lehman brothers went under do you think we be in a lot worse economic trouble?

i notice a story that said stock markets across the world took a hit from the lehman brothers filling for bankruptcy.

 

Private bailout of AIG now dead. Will the feds blink and come to the rescue?

 

The sky is falling... the sky is..........


thud!

 

I will contribute to the discussion with the obligatory .

 

I see a business man that sees low-cost loans... period.
I'd love to see them get help IF THEY USE IT RIGHT.
Throwing $25B at a problem that is not SOLVED is simply throwing $25B into the pockets of those looking to ride until the lights go out. NOT what I'd like to see my tax-dollars going towards right now.

I also have a problem with the government being the ones offering the loans right now. THEY HAVE NOTHING TO OFFER... THEY ARE BROKE!!!!
The ofer should come from private investors who stand to gain more by keeping the big 3 going and having working people pay taxes and buy white and hard goods from local dealers and stores... buying new homes... buying stuff for their kids and grandkids. I look at it as spending $2 today to get $2 every year for the next 10 years... it should be in their (the private finaciers) interest to do it.

My .02 (interest-free today!).