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After he and other other members of Congress defeated President Bush’s $700-billion bailout for banks, Paul says contrary to widespread propoganda, the “markets will not fall apart” over the long term.
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good morning everyone! ron paul is so on the money with this. markets go up and markets go down. housing prices go up and housing prices go down. time changes everything. it is interesting that the bailout is being trotted back out and chris dodd wants to leave it in its original form since there is "no time". democratic leadership is saying that the situation is dire and people will not get their paychecks. of course, they are taking off for the jewish holiday but don't think that the situation is not dire!
I know a drop in 780 points sounds big, but lets put in perspective. In terms of percentage drop it was only a 7% drop in value.
This is from MSNBC:
Quote:
On Wall Street, the Dow fell 777.68, or 6.98 percent, to 10,365.45. The decline also surpasses the 721.56-point intraday decline record also set during the first trading day after the terror attacks. Still, it was the 17th biggest percentage decline for the Dow and remained well below the more than 20 percent drops seen on Black Monday of October 1987 and the Depression.
Is there anyone out there that can post the 20 biggest drops percentage wise in the Stock Market declines over the last 100 years?
BTW The media, Bush and Paulson and the Democrats need to stop over dramatizing the situation. They just make things worse and it scares old people.
Last time was the Panic 1907 JP Morgan himself got the banks to inject liquidity into the markets.It was in essence a credit crunch.It would lead to the creation of the Federal Reserve System 1 year later.(It was a Bully Time)
good morning everyone! ron paul is so on the money with this. markets go up and markets go down. housing prices go up and housing prices go down. time changes everything. it is interesting that the bailout is being trotted back out and chris dodd wants to leave it in its original form since there is "no time". democratic leadership is saying that the situation is dire and people will not get their paychecks. of course, they are taking off for the jewish holiday but don't think that the situation is not dire!
You know what, if I ran a business, I would never consider borrowing money to run the day to day operations. That to me is a failed model, and if you have to borrow money just to meet payroll, you aren't doing something right. It's one thing for a business to borrow to make a large purchase of equipment, quite another to borrow for regular business expenses.
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Market up 237 Points this morning....
