Wednesday, October 01, 2008
Market Up 485
The market was up 485 points while on auto-pilot. Most pundits were saying because investors are optimistic that Congress would soon pass the rescue plan. I say that's horseshit. Investors are just speculating like they always do. Not necessarily because they are optimistic about the passing of the bailout plan. I say investors are just irrational or are just happy Congress are leaving them alone for a day or two. The drop the day before, oh yeah, investors are so scared they would pass the $700 billion bailout plan. Man, if the pundits are always right, we wouldn't be in this financial shitstorm to begin with. Do they have any credibility at all? I don't really think they do. The kneejerk reaction to get something done, something passed, to fix something is so overwhelming.
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New York City is falling apart .... Buildings are collapsing , the financial market is in a tailspin and the dollar is not the dollar it us...
So what do you think of the Irish bailout oh-sorry unlimited bank guarantee from an outsider perspective? I'm finding I increasingly can't be objective here especially as I'm wearing multiple hats (taxpayer/mortgage-holder/small-time investor).
ReplyDeleteIreland is joining the big league now. If this financial shitstorm doesn't hit Ireland then I am sure you guys would be embarrassed. Let's just hope his shitstorm won't turn into a financial ice age when all credit is frozen and things grind to a halt. No, I can't be objective either. Like I said before as somewhat responsible innocent investors we are screwed by Wall Street big time, as taxpayers we are sodomized by the Treasury.
ReplyDeleteI am busy now but my thought is basically full of BS. So never mind me. I do think you are a very responsible multiple hat wearer so have a beer in Bernard Shaw meet some cute guys... you are young you can ride out this shitstorm.
back to more BS at work...