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"This is panic, and fear is running amok," one trader told CNBC. "We are in a classic financial meltdown, and it's panic-based. We're seeing panic selling."Allah notes that today's $1.1 trillion in losses exceeds the $700 pricetag of the bailout. Yeah, but at least people are losing their own money, rather than stealing it from the taxpayers.
Whoa! New Florida congressional map adds +5 Republican seats redrawing out:
FL10 Maxwell Frost, FL14 Kathy Castor, FL22 Lois Frankel, FL23 (Jared
Moskowitz) and FL25 (Debbie Wasserman-Schultz)
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Hey Greasy Gavin Newsom! FAFO! Remember how you were bragging about drawing
Crapifornia to give the Democrat five more seats
The post Whoa! New Florida c...
12 hours ago
Allah doesn't understand moving money from one place to another is not a loss, it's a transfer. There are buyers & sellers in the true market. Today there were just a heck of a lot more sellers and buyers and a lot of those programmed (ie stop losses) in addition.
ReplyDeleteAnd for everyone who is selling at a loss, there are people buying intending to make a profit. It's the way our system of freedom works.
ReplyDeleteAnd tomorrow, the sun will come up and everybody starts again.
The death of one dollar is a tragedy, the death of billions is a statistic.
ReplyDeleteThe difference is the "losses" today are mostly paper, and what is real comes out of a deadbeats pockets.
ReplyDeleteThe Bailout the bankers beemer bill money would come out of my posket.