(no subject)
Oct. 10th, 2008 12:00 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
which_chickTime for another finance post. It's just as cheerful and happy as my previous posts on this subject, so feel free to skip over it if you are tired of hearing me whine about the economy.
I'm really pleased to see that the government stepping in and taking control of AIG and Fannie and Freddie settled the markets. Their actions on the arranged-marriage front (like for WaMu and Wachovia) also really helped.
I'm also super glad that we hurried up and passed the SEVEN HUNDRED BILLION DOLLAR BAILOUT BILL. Yeah. Geez, think of the trouble we'd be in if we didn't have that thing propping up the economy. I know it's not in play yet, but the fact that Congress passed it has certainly reassured the markets and started to prop things up.
What do you MEAN it's not propping? Mr. Paulson said it would work. He did. Come on, it's SEVEN HUNDRED BILLION DOLLARS. He even picked a ReallyUseful Engine Big Number to be SURE that it would work and selected a suitable member of the Goldman-Sachs borg collective (Full-fledged members have gone bald because the power of their mighty brains has burned off all their hair) to head up the Free Money Bailout Plan. I can't imagine why the bailout package hasn't caused a warm and snuggly Fabric Softener feeling of happiness throughout Wall Street, but whatever.
I bet the Federal Reserve's unscheduled, emergency, 50-basis-point rate cut (coordinated, in an historic effort, with other central banks around the world) did some good. And that was just on Wednesday. So, how did the market do today?
...
But... but... we dropped interest rates. Why aren't banks loaning money? They should be falling all over themselves to lend money to possibly-insolvent borrowers, especially now that we've cut the profit out of the thing. Damn the fucking banks. They are not cooperating with our well-conceived and BLOODY OBVIOUS solutions to the problem. If there's no liquidity, clearly what is needed is to make banks lower interest rates so that companies can AFFORD to borrow. Yes. That's the solution. We've done it. WHY ISN'T IT WORKING?!?!?!
It might help to have the President address the country with some Remarks on the Situation. That'll inspire confidence and reassure the markets. Even with a 19% approval rating (For comparison, Satan has an approval rating in the low 30s and that's not just among Woodland Critters in Colorado.), he can't possibly do more harm than good, now, can he?
*sigh* On second thought, scratch that. What we really, truly need to do is to start throwing money around like it's confetti. There will be money in the streets. EVERYONE will be a millionaire. That'll fix the problem, for sure. You betcha. If everybody has lots of money, then there won't be a liquidity crisis -- you can take that to the fucking bank.
I'm really pleased to see that the government stepping in and taking control of AIG and Fannie and Freddie settled the markets. Their actions on the arranged-marriage front (like for WaMu and Wachovia) also really helped.
I'm also super glad that we hurried up and passed the SEVEN HUNDRED BILLION DOLLAR BAILOUT BILL. Yeah. Geez, think of the trouble we'd be in if we didn't have that thing propping up the economy. I know it's not in play yet, but the fact that Congress passed it has certainly reassured the markets and started to prop things up.
What do you MEAN it's not propping? Mr. Paulson said it would work. He did. Come on, it's SEVEN HUNDRED BILLION DOLLARS. He even picked a Really
I bet the Federal Reserve's unscheduled, emergency, 50-basis-point rate cut (coordinated, in an historic effort, with other central banks around the world) did some good. And that was just on Wednesday. So, how did the market do today?
...
But... but... we dropped interest rates. Why aren't banks loaning money? They should be falling all over themselves to lend money to possibly-insolvent borrowers, especially now that we've cut the profit out of the thing. Damn the fucking banks. They are not cooperating with our well-conceived and BLOODY OBVIOUS solutions to the problem. If there's no liquidity, clearly what is needed is to make banks lower interest rates so that companies can AFFORD to borrow. Yes. That's the solution. We've done it. WHY ISN'T IT WORKING?!?!?!
It might help to have the President address the country with some Remarks on the Situation. That'll inspire confidence and reassure the markets. Even with a 19% approval rating (For comparison, Satan has an approval rating in the low 30s and that's not just among Woodland Critters in Colorado.), he can't possibly do more harm than good, now, can he?
*sigh* On second thought, scratch that. What we really, truly need to do is to start throwing money around like it's confetti. There will be money in the streets. EVERYONE will be a millionaire. That'll fix the problem, for sure. You betcha. If everybody has lots of money, then there won't be a liquidity crisis -- you can take that to the fucking bank.
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no subject
Date: 2008-10-10 04:51 am (UTC)Snowflakes drifting in the wind
Who can pay for heat?
(Yes, I know, you will be the warm one.)
I got me a Howe & Strauss book ("Generations") and I think they were right on the nose with their how-generations-cause-disaster-every-80-years thing, and I am not comforted by their projections. (Their more well-known book is The Fourth Turning, and they have a website. I borrowed Generations from the library, of course. I particularly like the part about how the generation right after a boom-y, awakening generation always gets stuck holding the bag and becomes forgotten and old in poverty. Good times.)
no subject
Date: 2008-10-10 12:50 pm (UTC)