Prepare to get smashed - 1 trillion wiped off Wall Street

[IFocus]

I find it hard to comprehend the fact that in the US this rescue package was voted down due to the Democrats making comments that it was a republican administration that caused all this mess so some of the Republicans got a hissy fit on and voted against it because the Democrats were supporting it

Then there are the Democrats who voted against it due to low public support for a bailout and there worried they may not get re elected

Then to top it all, with probably the worst crisis in the World since WW2 they all go on holiday

Selfish F@cki#g Bast@rds

There is a minor problem with the package.

It wont fix the problem, the whole point is to restore confidence nothing more just trying to buy time nothing will actually change on the ground.

The package is about trying to plug holes in the dam wall but isn't about a plan for the recovery of the financial system which is what is needed.

They actually should take weeks to work through all the issues about a recovery plan..............but alas......

 

[CanOz]

Are you two actually trading through any of this? Other than a couple of FX trades i've done nothing buy observe and draw interest, silently hoping there is no run on Aussie banks.

Cheers,


CanOz

 

[IFocus]

Are you two actually trading through any of this? Other than a couple of FX trades i've done nothing buy observe and draw interest, silently hoping there is no run on Aussie banks.

Cheers,


CanOz

If you are asking me Can I haven't had to many trades come up for months last opportunity was short oil or the ETF USO think I threw it up on Reef, no shorts possible on the ASX and not to many short patterns in the US ATM that I like.

I am up nicely for the year so happy to like wise sit in cash and wait for a trend that I like no point getting sliced and diced in the chop been there done that unfortunately.

I think FX is the place to be as Kauri pointed out nice pattern on the AUD cross with JPY / USD

 

[Macquack]

Re: Prepare to get smashed - 1 trillion wiped of wall street

I don't think the average person has any idea how serious this situation is.

Most have now noticed the fire in the rubbish bin and can see the need to do something about it. What they're forgetting is that the rubbish bin is located in a warehouse full of high explosives. Meanwhile they're arguing about whether it's really necessary to call the fire brigade.
...

I like this analogy of the proposed bailout.

Credit to Baer

 

[chops_a_must]

Are you two actually trading through any of this? Other than a couple of FX trades i've done nothing buy observe and draw interest, silently hoping there is no run on Aussie banks.

Cheers,


CanOz

First buy in in months today for me.

Just on NCM. Very small amount, so not fussed. Have a lot in the kitty to splash on certain things at right times (for me) in the market.

Watching, learning and saving like mad atm.

I'll get back into doing credit spreads like I was, when I get a clear lead on something again.

 

[wayneL]

Re: Prepare to get smashed - 1 trillion wiped of wall street

You are right there. Also there are others waiting like the looters after the storm to pick over the remains and profit from the losses of the innocent victims.

You mean those savers, diligent learners and conservative risk takers?

Exactly!

 

[Greg71]

I was unsure of which thread to put this in, but this one will do.

What would happen if the U.S. government hit the stop button and said:

"Look, this Federal Reserve thing is a load of c**p, we're kicking it out of the country and we are now creating our own currency that is produced by the government and doesn't produce debt for the country. The bill that was signed in 1914 (or whenever it was) has been removed. We're starting again like it was before that bill was signed."

George Bush.

 

[chops_a_must]

I would laugh at George Bush getting his name correct for starters.

 

[wayneL]

I was unsure of which thread to put this in, but this one will do.

What would happen if the U.S. government hit the stop button and said:

"Look, this Federal Reserve thing is a load of c**p, we're kicking it out of the country and we are now creating our own currency that is produced by the government and doesn't produce debt for the country. The bill that was signed in 1914 (or whenever it was) has been removed. We're starting again like it was before that bill was signed."

George Bush.

They would have to brainwash another nutter to assassinate the president like the last time it was mentioned.

 

[gav]

If 1 trillion can be wiped off Wall St in just one day, how the hell is a mere 800 billion going to fix anything?