itsmeeeeeee

oh, this isn't "it" yet...

they may have dodged the bullet temporarily with that 3/4 cut... but these earnings are shocking! and they are going to keep coming for who knows HOW long.

rate cuts and stimulus packages can't fix what's wrong, and stop the subprime carnage from playing itself out. we're gonna be in danger of a crash for quite a while. this whole year, and maybe into 09. unless there's drastic action - and quite frankly, i'm not sure what that would be. seems a lot of the globe feels the way i do. it's too little, too late.

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Heretic

Ahh, no they didn't dodge any bullet witha rate cut. That cut won't do anything at all, because interest rates were never the problem. The bright side of this [for me anyway] is that more people who will watch their jobs destroyed will go back to school to train.

It's not just the subrpimes that's the problem.. Look at how people are having to live pay check to pay check. Look at how two or more jobs are required just to get close to what one job once did. And there's less job security now than has existed in decades. Plus, our own government is against us in the newest generation economic class warfare.

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"In space no one can hear you scream. in D.C. it won't matter..." -Clinton Resurrection: The Alien Queen lives!

DanS.

okay..seriously? There are groups of people whose only goal is to destroy jobs?

itsmeeeeeee

not quite what he said, now is it?

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DanS.

I don't know how else to take...."It means that unscrupulous corporations and brokers are buying in order to later destroy jobs."


But that was before he edited it...

itsmeeeeeee

well, maybe you're right, but in a way, so is he. these companies are cutting jobs like crazy, and i have a feeling they are just getting going! the first thing to go is employees.

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Dianekkdi

All bets are off.

Gold is back to 889.80. Silver is right back to $16.01.

So much for a sale. C'est la vie.

Market was down only -58.-- it's already back down 192----scratch that it's only down -51.48....


okie dokie.... fun times for all...motion sickness prone need to strap them seat belts in extra tight.

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Reinvestigate 9/11
Impeach......Prosecute......Imprison

"...The force of public opinion cannot be resisted when permitted freely to be expressed...."
--Thomas Jefferson

DanS.

I agree...but to elaborate I would say that interest rates (they were too low) were a problem that got us where we are. And you're right about the people going back to school. I hope this is a wake up call to all of America. I hope we all realize that we have to get off our high "We are America horse." buckle down and make some serious reforms to our education system. People have to realize that they can't graduate highschool and walk into a $60,000 a year job anymore. Which is part of why MI will suffer for so long. People here could do that for so long in the auto sector...now we have a largely uneducated populace, even though our states population is much larger than Minnesotas we don't even have any where near the number of college educated that they have.

Dianekkdi

translate to basically a hostile corporate take over. Slash and burn to bring profit to the bottom line (CEO's pocket...he who bought...not the company--the company is gutted).

This is probably foreign money. Sharks is an apt noun.

also, keep in mind, the American middle class is basically obsolete. There's no need for it with globalization.

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----------------------
Reinvestigate 9/11
Impeach......Prosecute......Imprison

"...The force of public opinion cannot be resisted when permitted freely to be expressed...."
--Thomas Jefferson

DanS.

I don't know what else they can do...I mean if business is good those workers are bringing in profit through productivity. But if the business just isn't there....what should they do? Keep them around and sink the whole company so everybody is out of a job?