Tuesday, September 16, 2008
Still Watching Everything Closely ( and plenty down below on McCain and Palin in the posts down below). My greatgrandmother Ethel was someone that lost everything in the Depression, and she ended up taking in sewing , and teaching piano and tutoring, while living in a tiny apartment.She was someone I would listen to growing up, she would play the piano and sip Bourbon ( kind of like a piano bar).She used to tell me"Keep your wits, pay attention.Stay Calm, many bad decisions have been made in a panic." I think this week will have alot of ups and downs, but the Reality of this Titannical Regime and what they have done to OUR economy I think is being revealed for one and all. ( Many of us have known how bad things are for years).Yesterday Lehman Brothers declared bankruptcy, effecting many, 25,000 jobs gone, and Banks and Markets around the world effected.At Some point the Reality of the Housing Markets, and Foreclosure Crisis and the State of Joblessness here was to be truly revealed. For years the MSM and the Bush Government have tried to spin it.....That is done.
And at this point we don't have time for Out Of Touch Leaders with False Reassurance and Lies, about How Everything is Fine. Things are not Fine and have not been for a long time. It is also time for us to hold the MSM accountable- they can not Paint this as a "Correction" or a "passing situation", it is a "Financial Crisis". And in the end it will effect many as far as jobs and savings, and retirement funds are effected.
If you need a refresher on what happened yesterday, it is linked to the Title ( with all needed links and articles and videos).
If you want to watch the index you can link here and watch and see what is happening.The real time quote is a static number, so you must refresh/reload the page to get a new real time quote, and click graph/chart to see visual.
UPDATE: If you want to watch the Index online Click here to watch....it is not stable this am. The real time quote is a static number, so you must refresh/reload the page to get a new real time quote, and click graph/chart to see visual.
Today AIG and Washington Mutual others need to be watched as this unravels...( The Eurpean and Asian Analysts were perdicting the number of hours AIG would even survive, and this was sobering as they also revealed how many banks were effected in Asia by Lehman Brothers Collapse).How Our Economy effects the Global Economy can not be underestimated.
Here are some of the LInks that are worth watching:
QUESTION: I heard an interview about AIG , and it insures MANY things, including CITIES and COUNTIES ? And people brought up today about how it might effect the IKE Situation in Texas...Can Anyone Answer this question better for me?
I am just a nurse, a mom, I am just trying to track what is going on that effects us, and document the damage. DK of Redheaded Wisdom has a great post that explains alot.
We may be Hoovered Here folks, but if we hang together, and educate ourselves we will get through this...I think we should show up at McCain Events wearing Hoover Pins....just to send a Messege.Song for the Day, Hold On,Hold On, by Neko Case really good song for this week.
"“Get the facts first. You can distort them later. ” - Mark Twain
Obama speaking with force and with energy on CNN, about how serious this situation is....Big Crowd in Colorado. VERY Noisy. ( CNN has not panned the cameras).Now MSNBC is running the speech, the Crowd is loud, stamping and cheering, I will put the video up when I have it. Below 7 Minute clip from the speech this am in Aspen Colorado.
3:00 - 4:00 PM UPDATE::
Should the FEDS bail out AIG, then we should really think about how the FEDS have selectively interevened.
So FEDS are NOT lowering the Interest rate...Barclays is in talks with Lehmans..( I have no idea what that means..supposedly they are buying the Company for 2 Billion ?)....And McInsane offered this solution today a Phil Gramm Idea ? a disasterous idea...sounds like something Bush would offer.
AIG is still struggling and in trouble, FEDS are meeting to decide what to do, should the FEDS put forth 75 Billion to bail them with a Bridge Load ? The FEDS have never bailed out an Insurance company- remember that, and AIG wants ALOT of money...too much.....And they decided to bail out the Bears Stearn and NOT Lehman, makes you wonder WHO they really bailed out. Do read about how the Lehman Situation went down and remember the Employees were also paid with Lehman Stocks....Internet Stocks and Med Stocks leading the way today, except for DELL and HP are having troubles.....And Oil is still at 91/ Barrel..
Lehman Brothers in some ways reminds me of Enron or Global Crossing, employees being paid in Lehman Stocks ( worthless now).....I went and read their stories on Ebay this am....
Here is more :: "Staff had little choice but to follow suit in Lehman’s offices around the globe as they came to terms with the reality of the vertiginous collapse of the 158-year-old institution, leaving workplaces with belongings hastily collected and their savings depleted.The mantra of Lehman Brothers was to pay its staff in stock – some 30 per cent of the bank’s equity was held by employees and many bonuses were paid in shares. Now those holdings are all but worthless.Some staff were also told not to expect a paycheck at the end of the month and that they might even be liable for expenses on their corporate credit cards.In Lehman’s London office, the bridgehead for the Wall Street firm’s international expansion, many were evidently determined to minimise their status as creditors to the firm."