Anyone experiencing Deja vu? So 2008..

[eilen]

This feels like the last 6 months of the GW Bush administration. Except for all the layoff announcements and foreclosures...they haven't started yet.

[Mike 03]

1. Yes, definitely in terms of the market drops.

Prior to last week I could only remember one or possibly two times when the market was "limit down" prior to open (during the great recession).

Also, being glued to Bloomberg Radio instead of CNN or MSNBC.

[bigbrother05]

2. If you condense W's last 6 months into 6 weeks, yes

The speed is related to the incredible incompetence/venality of the Administration and the underlying weakness of the economy/market.

Add in that the Fed reacted to the political pressure to keep rates low, there is no room to help out now that it's really needed.

[gibraltar72]

3. Much much worse.

[Buckeyeblue]

4. W would have fucked all of this up as well...He was horrible with disasters

[Laelth]

5. No bail-out this time.

We saved the speculators’ tails in 2008-2009 with trillions of federal dollars. Not this time, please. Biden can be a truly transformative, FDR-style President if we enter a real depression (for which we are overdue). A recession hurts the poor and the middle class. No big deal. Nothing really changes. A depression actually hurts the rich folks as they watch their collective wealth evaporate. Then stuff gets done.

No bail-out! Let the rich suffer a little for their oppressive greed.

-Laelth

[uponit7771]

7. +1, was watching CNBC and they guy on it was talking about bridge loans the companies are going

... to be going to banks for to keep things going.

If the banks aren't solvent enough to give these loans without being too greedy we're screwed

[uponit7771]

6. K&R, Day 1 was 9 days ago ... this is 2008 on meth