Economy fundamentally sound?

but the ceo’s ,coo’s,,etc..still have their money, and thats something our new administration(McCain/palin) is going to deal with…our economy is almost fundamentally sound( did Mac really say that it is?) but in practical terms it’s a disaster…all goes to twice the price for fuel since the dems got the house… now that may be a coincidence, but when I’m spending almost 100 bucks every other day to keep myself in business, where do I make that up? I charge more at the end customer ..thats where.. so we’re all feeling it now due to the fuel cost increase after Katrina.. takes a while huh? EVERYBODY who provides any type of service is charging more..only one that actually MAKES more is the government in taxes…awesome huh? well the new crew will straighten things out..just be prepared for a little more pain in the pocket before it all evens out…

We have definatelt not seen the worst of this “downturn” that is not a downturn at all, its a RECESSION. The market always goes in cycles, and most who went thru the great depression are dead, and those who aren’t seem to have forgotten what the end of the cycles looks like-what the baloon looks like before it bursts. The Lehman Bro Bank in NYC is the newest, and largest, example. And the Fed isn’t going to bail their asses out.. The 100,000.00 that will be covered is chump-change compared to the amount of money some had tied up with them. If the Fed were to cover them, they would be bankrupt before they finished-so they couldnt even if they wanted to. Which means, eventually they won’t even be able to pay that $100k, if the market keeps going the way it is (which it’s going to) Which begs the question, “Where do you put your money?” Soon, cash will be king. Expect to see more wars as governments attempt to stop foreign competition, and xenaphobia to increase-probably on the large hispanic population that resides in the US-which will in turn cause a large flood of immigrants from Mexico to return, which will, in turn, slow our economy even more… And so on and so on. WE HAVE NOT SEEN THE WORST YET.

Free market = greed, and yes, it’s the “free market” that lead to this…isn’t that a republican ideal?

I’m still waiting for Obama OR McCain to get the people’s money back from the executive crooks…the first politician to say they’ll pass a law that beats the CEO’s of the financial firms with a stick on TV & sell tickets to raise some money to pay down the deficit will get my vote, and I’m 100% certain the votes of millions of other Americans.

CEO’s of large financial institutions need reminding of just how tough America is, in my opinion…if we can invade Iraq, surely we have the mental toughness to whip some old white guys in suits & sell it on pay per view?

“Congress should have been regulating the Investment Bankers…”

And we can thank the republicans for all the deregulation that has led to this disaster. It all started with reagan, and now is coming to fruition. Despite the pontificating from the right, the free market does not always work itself out absent any government regulation. Greed is a powerful catalyst, and unchecked leads to terrible consequences. As we can see today.

Well, McCain’s no economist. It’s the fundamental flaws in the economy that have led to a collapse of this magnitude.

“Just saying the “bottoms slippin’ out” would get a panic like 1929 going, and the bottom would come up to meet us as we fall…and that’s not just the US…that’s all over the world…”

Funny you bring up 1929, when a major fundamental flaw was discovered: it’s not such a good idea letting banks loan people tons of money to buy stocks. Unfortunately It takes an economic collapse of this magnitude to expose certain flaws, and create the political will to fix them. McCain can tell the public whatever he wants, but I guarantee you both the McCain and Obama campaigns, behind closed doors, are thinking “oh F*CK” right about now.

Nope, the economy is not “fundamentally sound” it’s fundamentally flawed. If Greenspan says it’s the worst economic collapse of the century, AND we can expect a lot more bad news…I’d trust him over any democrat, republican or independent.

Added: You missed the sale of Merril Lynch to BofA as well…that came out today, too. And the 300 point drop in 10 minutes in the Down Jones Industrials.