ON AIR NOW
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by Roderick T. Long. I explain how Austrian price theory applies to boom-bust cycles in general and the present financial crisis in particular, and why those who blame the crisis on the free market have things precisely backward.
WASHINGTON (AP) - President Bush emerged from a meeting with foreign financial officials on Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth."
Under the latest plan approved by lawmakers Friday, the Central Bank will dip into the national gold and hard currency reserves for loans to private Russian banks. (Something is going on in Russia and China that will greatly impact,... everything)
Where's the market headed? The answer may surprise you.
Finally. Someone who can explain to the dips**t American people what exactly this bailout is and what it means to them, provided they can pull themselves away from the McCain and Obama rallies long enough to have it read to them.
Bush speaks and the markets drop. Ron Paul talks about why the bailouts and Bush do nothing to restore confidence in the market place.
The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth.
Treasury Secretary Henry Paulson discusses the G7 plan to stabilize markets.
We'll get to that after some research and the posting of what he said. But for now,... What is that flag that was behind him? Anyone?... Please post what you know to the comments section on this article.
Asked what we need from our G7 leaders Jim responds "well what they need to do is go down to the bar and have a beer and leave the rest of us alone, let the sound people succeed and let the other people fail".
Were it not for ever-greater increases in central-bank money and the market expectation that governments are about to make taxpayers shoulder commercial banks' huge losses, the fiat money systems would presumably collapse right away.
[still half an hour to go] U.S. stocks fell for an eighth straight day in a whipsaw session that sent the Dow Jones Industrial Average to its biggest point swing ever, 1,000 points rocketing up.[... these roller coasters happened before the 1930'
"It won't happen all at once,... but it will happen overnight". Now you know what I meant when I said this.
Fascist Nation
You know the stuff the crazies have been shouting about for years ... well, the crashing economy is here, and hitting you right between your oblivious eyes. What are you going to do to survive? Continue applauding like a trained seal for a fish?
President Bush said the government's financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in. "We can solve this crisis and we will," he said from the White House Rose Garden. [nice place
Wall Street extended its devastating decline Friday as investors, still seeing no resolution to the credit crisis, sold frantically and propelled the Dow Jones industrials to their eighth straight day of losses and worst week ever.
Beginning on Sunday, September 7, when Henry Paulson unilaterally nationalized the mortgage market of the United States -- never using the word "nationalization" -- we have seen a series of Treasury and Federal Reserve interventions into
The stock has plunged 77% this year to a 10-year low. Hedge-fund clients have pulled about one-third of their money from the firm in recent weeks. The firm can't issue new debt. Morgan Stanley hopes for a planned $9 billion investment in the firm
WhiteHouse.gov - Speech Text and VIDEO
Nouriel Roubini The US and advanced economies’ financial system is now headed towards a near-term systemic financial meltdown as day after day stock markets are in free fall, money markets have shut down while their spreads are skyrocketing...
MAJOR WORLD INDICES (Financial markets around the world)
If these markets do not immediately unfreeze the consequence will be that food and fuel may not flow to your grocery store and gas station.
The president wants to ``assure'' the country that Treasury Secretary Henry Paulson and other administration officials are making ``every effort to stabilize our financial system,'' Perino said.
This Lehman credit default swaps settlement auction will likely be one of the most expensive payouts in the history of that market, something the government is certainly keeping an eye on.
I need more information... CNBC had Lord John Browne, Senior Market Strategist for Euro Pacific Capital, Inc., advocating for more government bailout with a europac.net backdrop. (just now 4:20 EST) (VIDEO Now)
While the global automotive industry is clearly experiencing a slowdown in 2008, the global market in 2009 may experience an outright collapse," said Jeff Schuster, J.D. Power's executive director of automotive forecasting.
NEW YORK (AP) — Oil prices closed at their lowest level in a year Thursday, falling below $85 a barrel even after OPEC signaled it may try to slow crude's downward spiral by cutting production.
Stocks plunged in the final hour of trading, sending the Dow Jones industrial average down more than 675 points, or more than 7%, its lowest level in 5 years after a major credit ratings agency was considering cutting its rating on General Motors
Seems like only yesterday, the headline was 'Dow drops below 10,000' ... oh wait, it was almost yesterday. How is that war looking now? How about those elected and appointed geniuses looking after your savings?
