Re: Economic Crisis

[Beregond2]

I listened to a lengthy program on NPR today about he current economic crisis, and they stated over and over how relieved they were that the Dow wasn't badly affected by the collapse of Lehman Bos and Fannie and Freddy. Then I get on the net, and EVERYONE is in a huge panic over the reaction today. What the hell? What were those guys smoking at NPR?

[colorado thinker]

1. They were relieved

it didn't drop 1,000 points. Oh, and they are smoking crack, apparently.

[nadinbrzezinski]

2. It wasn't as bad as some of us expected it

but it is not good either

And I expect the week to be a roller coaster to put it mildly

[roamer65]

3. They're premature in their assessment.

The credit and banking crisis is just beginning. This crisis is like slow moving streamroller. Many more banks and companies will go under before it is done.

[StClone]

4. NPR under Bush Cronyism and targeted destruction

Is not half as competent or committed to unbiased reporting as pre-Bush (Pre-Reagan too). Conservatives have slashed funding and forced conservative influence causing fear and loathing at NPR.

[Beregond2]

5. I think you are right.

I never noticed it before today.

[HCE SuiGeneris]

6. Hate to say it, but...

Tomorrow will be worse based on the actions of foreign exchanges going into Tuesday.

[bdamomma]

7. shameful.

[1]

8. "we have nothing to fear but fear itself..."

a quote from a dude that understood markets and economies and people quite well...

[Warpy]

9. It could have been much, much worse

The fall was scary for most of us but it was still a modest one, nothing like the 20+% drop back in 1987.

The fall will continue for at least the next couple of days, and then the bargain hunters will give us a sucker rally.

The trend will still be down at least until we get rid of Stupid and probably beyond.

However, the Dow isn't the problem. The problem is the debt load the average family has that isn't going to be repaid unless some very painful changes (to the rich and powerful) are made in this country.

[pretzel4gore]

10. they lie all the time...

one day, i heard a report the dow lost 150 points then before 4pm another report said it had only lost 30 points, but turns out they meant 30 plus the 150 earlier. Someone should do a study of how the financial/newsmedia reported the actions of the stock market as reported- they were trying to affect popular opinion/mood the entire time, regardless of the facts. The Plunge Protection Team stopped reporting its nyse buys a few years ago, and they have since spend hundred of billions of public money propping up the stock market. People work 8 dreary hours daily for a hundred sixty of those mass produced dollars! Buncha cheap thieves.

[LiberalHeart]

11. I heard them early in the day saying that (an "orderly" decline), but later the market dropped more.