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View Diary: Senate Gives in on Wiretapping. 16 Dems Go Along. (789 comments)

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  •  Have you noticed the stock market???? (3+ / 0-)

    My services told me to sell American stocks last Thursday which I did and I am so happy.  Morgan Stanley said today they made almost nothing this month LOL.   The mortgage melt down is happening now.  American Home Mortgage just laid off 7000 folks after their stock fell from 11 dollars to 70 cents.

    Wake up people, Bush has ruined the economy. Several hedge funds have blown up for Bear Stearns and Lehman (LEH) is down 7% today.

    Gold was up

    Better tune into CNBC.

    It's over.

    Good Luck,

    zed

    •  The Great Depression was nothing! (0+ / 0-)

      Ohhhh! The great depression was nothing compared to this economy!  Ohhh!  We are all starving to death in this country due to Bush!  My neighbors are all jumping out of their office buildings due to the CRASH in the stock market caused by Bush.  It is at a historic all time low!  No food and water available!  Check out the unemployment rate at a historic devastating all time high at 4.6% percent - http://www.bls.gov/...  We are all doomed!  Bush causing global warming will kill us all too!  And oh yah - Bush lied people died - Bush lied people died - Bush lied people died - Bushliedpeopledied!  This is my last post as I have not enough energy...  Need to eat soon...  food is scarce....  must go on....  

    •  If Wall Street is bailing before they (2+ / 0-)
      Recommended by:
      RaulVB, dangangry

      were cued (Jan 09), then things are really, really bad.

      Contrary to popular opinion, WS isn't some paean to the beauty of the "free-market"; it's the "smart money" running with all the inside info it can buy. WS tends to like its Republicans.  If WS isn't willing to even manage the market until Bush is done, then that's bad.

      And no surprise tht BS and LEH took a hit: they ain't Goldman Sachs.  

      Small varmints, if you will.

      by 2lucky on Fri Aug 03, 2007 at 11:35:55 PM PDT

      [ Parent ]

      •  LOLOLOL (0+ / 1-)
        Recommended by:
        Hidden by:
        2lucky

        Look at the GS chart.  Goldman and their dyke Abby took quite a hit.

        Oh , this is too funny.

        I guess Dems on daily KOS don't review charts.

        •  GS chart (1+ / 0-)
          Recommended by:
          hhex65

          You're kidding, right?  

          You cannot possibly be serious: do you really think the managment of GS got suckered?  Look again, the smart money at GS bailed in July.

          Now, the shareholders of Goldman Sachs may want to cry, but do you really think Blankfein and his clientele were the last to know things are bad?

          Hell, it was probably the wealthiest of GS clients who went short on the stock in July.  

          GS is still the elephant in the room.  

          Small varmints, if you will.

          by 2lucky on Sat Aug 04, 2007 at 12:06:54 AM PDT

          [ Parent ]

          •  Laughin my ASS off (0+ / 0-)

            Lets see.  GS was off 4.15% today from 186.84 to a lovely price of (if you were short) 179.68.

            Umm what is good about that??

            Muhahahahahahah.  4% hit in our portfolio is NOT funny.  

            But I am bankin it.!!!!

            What's in your wallet?

      •  hahah (0+ / 0-)

        Well The Fed, a bank that is not part of America is drying up liquidity.   They did this just prior to our Depression in 1929.  OK can we all spell D-E-P-R-E-S-S-I-O-N????  It's about the transfer or wealth from the people back to the banks.

        One must learn from history, when the FED removed liquidity and stole most of the family farms in America.  These folks are the Moneychangers who Christ warned us about in the Bible.

        They are draining liquidity in order to steal as much propety as possible.

        As Democrats how can you not see this?????

        •  Holy shit. (0+ / 0-)

          You really think the rest of us haven't noticed that we're falling into another gilded age?

          Yeah, incog99, we ALL missed the massive wealth distribution these last five years.  Thank God you're here to set us straight.  

          You must have missed a slew of diaries posted here.

          And I again find it amusing that you think the performance of GS stock is the barometer of GS: they don't call 'em specialists for nuthin'.  

          Small varmints, if you will.

          by 2lucky on Sat Aug 04, 2007 at 12:33:25 AM PDT

          [ Parent ]

      •  hahahahahah (0+ / 1-)
        Recommended by:
        Hidden by:
        2lucky

        GS took a big hit too.

        God are you stupid.

        •  Yes, Goldman Sachs (0+ / 0-)

          got suckered. The primary dealer in US securities didn't see it coming.

          I'm not stupid: I know not to bet against the house.  Maybe you bought GS shares?

          You really think GS market performance is the story.

          Naive, and stupid, in the extreme.  

          Small varmints, if you will.

          by 2lucky on Sat Aug 04, 2007 at 01:23:16 AM PDT

          [ Parent ]

    •  Gotta' call bullshit here (1+ / 0-)
      Recommended by:
      mightymouse

      Bush has ruined the economy

      George Bush had a lot of bipartisanship support on this one.

      <div style="font-size:10px;text-align:center;background-color:#ffd;color:#f33">If the terriers and bariffs are torn down, this economy will grow - G. Bush

      by superscalar on Fri Aug 03, 2007 at 11:37:59 PM PDT

      [ Parent ]

      •  hmmm (1+ / 0-)
        Recommended by:
        echatwa

        Perhaps your tax cuts are at work in Minneapolis.

        ROFL

      •  You said it! (0+ / 0-)

        Bush was beamed into poor neighborhood dwellings by Scotty.  He then personally stole all their money and possessions.  Next, Scotty beamed him out of the poor people’s dwellings and Bush gave everything to his rich friends.  It is so obvious!  As a result, the stock market is at an all time low, unemployment is at an all time high, we also have had over 20 quarters of negative GDP growth, the federal deficit has tripled in the last 24 hours, and every bridge in the United States has crumbled!

        •  You are within your rights (6+ / 0-)

          To believe whatever you want to believe about this economy. Here is what I believe.

          • The saving rate is negative
          • Real wages, as a percentage of GDP, is about what it was in 1929
          • Mortgage defaults are at an all time high
          • The fastest growing job sectors in this economy are fast food preparation and retail clerks, and of the top ten job sectors, only two require a college degree

          From the DOL

          • The unemployment rate in job sectors which require a high school diploma or less has been hovering around ten percent.
          • The trade deficit is running about 6.5% of GDP.
          • We are now a net importer of food
          • We are on track to become a net importer of technology
          • The dollar has been hitting all time lows against the Euro on a regular basis lately
          • Our largest exports now are waste paper, scrap metal, raw lumber, and weapons systems
          • Bear Stearns stands a pretty good chance of going broke by next week

          This is what I believe to be true. Like I say, you are perfectly free to believe whatever you want.

          <div style="font-size:10px;text-align:center;background-color:#ffd;color:#f33">If the terriers and bariffs are torn down, this economy will grow - G. Bush

          by superscalar on Sat Aug 04, 2007 at 12:46:46 AM PDT

          [ Parent ]

          •  Oh yeah, I forgot (3+ / 0-)
            Recommended by:
            StrayCat, java4every1, kyril

            Today's job report was 92,000 jobs, down from 126,000 in June, and will note that replacement level is considered about 150,000, which in the six plus years of this presidency I believe that replacement of 150,000 has been about the mean (but admit that I would have to re-look at these figures first).

            The unemployment rate says nothing about the quality of a job, and the Dow Jones Industrial Average, GDP, and the core inflation rate speak less and less to the health of the domestic economy.

            <div style="font-size:10px;text-align:center;background-color:#ffd;color:#f33">If the terriers and bariffs are torn down, this economy will grow - G. Bush

            by superscalar on Sat Aug 04, 2007 at 01:01:45 AM PDT

            [ Parent ]

          •  This is what I believe to be true! (0+ / 0-)

            I'm going to go out on a limb here and suggest that the economy is doing OK historically if all of the below is true despite the fact the US economy shrank in three non-consecutive quarters in the early 2000s (the third quarter of 2000, the first quarter of 2001, and the third quarter of 2001), has survived corporate scandals, the 9/11 attacks, and the worst natural disaster in American history (WOW what a tough economy! Could socialist Europe  survive all that?).

            More Than 7.2 Million Jobs Created Since August 2003.  

            Payroll jobs increased 167,000 in December alone, and have increased by more than 600,000 jobs in the past four months.

            The Unemployment Rate Was 4.5 Percent In December.  This is well below the 5.1 percent average rate for 2005, and below the average of each of the past four decades.

            Real Wages Rose 1.7 Percent During 2006.  This rate of growth is substantially faster than the average rate of the 1990s, meaning an extra $1,030 last year for the typical family of four with two wage earners.

            Real After-Tax Personal Income Per Person Has Increased Over $2,800 – Or 9.6 Percent.

            Household Wealth Is At An All-Time High Of More Than $54 Trillion.  

            The poverty rate is now lower than in all but one year in the 1980s and 1990s, and is far below its most recent peak of 15.1 percent in 1993.  

            A record 75 million families own the home they are living in, and the homeownership rate, at 68.7 percent, is near its record high.

            •  Mortgage Melt Down (4+ / 0-)
              Recommended by:
              taonow, JVolvo, kyril, Blogvirgin

              Let's see American Home Mortgage just declared bankruptsy and they layed off 7000 folks with mortgages. hmm.  Well maybe Countrywide can fill the gap.   We are in the second inning of a meltdown.  You aint seen nuttin yet!!!

              Oh yes
              Bear Stearns said this month was BARELY profitable.  Ticker BSC, check it out. The price of that stock is based on forward earnins is 5.50 a share.  They break even and it goes down bigtime.

              I suspect most posters here are not in the markets.

              Wake Up, Bernanke is draining liquidity and the banks will suffer.

              The Federal Reserve is NOT an American institution.  OK time for a link to educate all you politicos.

              The Moneymasters:

              http://video.google.com/...

              Watch it and understand what is happening before it is too late.

              •  We Are Just Getting Started... (4+ / 0-)
                Recommended by:
                tikkun, dangangry, JVolvo, kyril

                The Mortgage Meltdown?  Kids we haven't even got started yet...the secondary mortgage market all but unraveled this week coming to a screeching halt on ALL non-conforming (Prime Conforming Stated, Prime Jumbo Stated, Prime Jumbo Period!, Alt-A, A-Minus) loans!Lender's Unable To Sell Loans

                We have seen Lender implosions work up from the bottom-most subprime lenders all the way up through ALt-A and now starting to creep into Jumbo Prime lenders..and the Top 10 "Monster" US Lenders (Ex. American Home/ABC #10)!

                This is nothing compared to the $215Billion in ARM resets that will happen between now and the end of the year...or the additional $900+ billion next year..

                I am absolutely with you on Bernanke, but Greenspan is also culpable for setting the stage for the flat and inverted yield curves...

                Hold On, we are just getting started...

            •  Those numbers are as much propaganda as stats. (4+ / 0-)
              Recommended by:
              tikkun, JVolvo, kyril, Blogvirgin

              When you look at how they are calculated and what they actually represent the blue sky self delusion falls apart. Jobs added are not stated as net (how many were lost?). Payroll increases are often a reflection of lost small businesses, shops and farms. The unemployment number drops those that have run out of benefits. Real wages for middle and lower income have not increased in 30 years. The after tax number is not inflation adjusted. Household wealth is calculated on nonrealized equity in an inflated market. The poverty rate is calculated against ancient benchmarks and is meaningless. Most of those 75 million own mortgages and property tax liabilties not homes. There's no easier way to bullshit the public than with statistics. Snowjobs don't put food on the table except for theives. And while you cry about European socialists, they are laying on the beach drinking wine and laughing while you work your ass off so people like you can add the bosses and your salary, divide by 2 and state how much the average income has increased. Of course, only one income actually did.

              "I count him braver who overcomes his desires than him who conquers his enemies; for the hardest victory is over self." --Aristotle

              by java4every1 on Sat Aug 04, 2007 at 04:11:24 AM PDT

              [ Parent ]

            •  Palor Tricks (5+ / 0-)
              Recommended by:
              tikkun, JVolvo, Uberbah, kyril, Blogvirgin

              More Than 7.2 Million Jobs Created Since August 2003

              I am not arguing that jobs are being created, but they are largely not jobs that will support a family, even two of them don't support a family look at the chart.

              Payroll jobs increased 167,000 in December alone, and have increased by more than 600,000 jobs in the past four months.

              Which, as I said, is about replacement level, so we aren't creating jobs at all, the quality of the jobs is getting poorer, and workers are moving from typically higher paying jobs into what are typically lower paying jobs with little or more often no benefits.

              The Unemployment Rate Was 4.5 Percent In December.  This is well below the 5.1 percent average rate for 2005, and below the average of each of the past four decades.

              The unemployment rate again says nothing about the quality of the job. I agree that people are working -- on the average they are working harder than they have ever worked -- also the 4.5 national rate says nothing about the unemployment rate in Michigan or Ohio.

              Real Wages Rose 1.7 Percent During 2006.

              More parlor tricks.

              Household Wealth Is At An All-Time High Of More Than $54 Trillion.

              And that wealth is, in the majority, in their homes, which they are now walking away from, and the tricky mortagages they used to buy them, in record numbers.

              A record 75 million families own the home they are living in, and the homeownership rate, at 68.7 percent, is near its record high

              And if you were a Bear Stearns, Citi, etc., one of the tens of now bankrupt sub-prime lenders, or a real estate speculator for the past four years, you were making a killing. Now both the homeowners, and the lenders, are going broke, and you have the unmitigated balls to present this as a 'positive' indicator.

              I'll give you this, you got moxy.

              <div style="font-size:10px;text-align:center;background-color:#ffd;color:#f33">If the terriers and bariffs are torn down, this economy will grow - G. Bush

              by superscalar on Sat Aug 04, 2007 at 07:30:20 AM PDT

              [ Parent ]

          •  Those numbers are as much propaganda as stats... (1+ / 0-)
            Recommended by:
            kyril

            When you look at how they are calculated and what they actually represent the blue sky self delusion falls apart. Jobs added are not stated as net (how many were lost?). Payroll increases are often a reflection of lost small businesses, shops and farms. The unemployment number drops those that have run out of benefits. Real wages for middle and lower income have not increased in 30 years. The after tax number is not inflation adjusted. Household wealth is calculated on nonrealized equity in an inflated market. The poverty rate is calculated against ancient benchmarks and is meaningless. Most of those 75 million own mortgages and property tax liabilties not homes. There's no easier way to bullshit the public than with statistics. Snowjobs don't put food on the table except for theives. And while you cry about European socialists, they are laying on the beach drinking wine and laughing while you work your ass off so people like you can add the bosses and your salary, divide by 2 and state how much the average income has increased. Of course, only one income actually did.

            "I count him braver who overcomes his desires than him who conquers his enemies; for the hardest victory is over self." --Aristotle

            by java4every1 on Sat Aug 04, 2007 at 04:12:50 AM PDT

            [ Parent ]

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