Stock market down nearly 400 pts! Loves stimulus!

[deckeda]

Dakota wrote:
[quote=deckeda]
Only fools pay attention to Wall Street's immediate reaction to anything. I see two folks here that either sold today or wish they did.

You wouldn't be saying this if it was +400 point now, would you?
How do you know, Dakota? Please do not assume I consider short-term gains to be permanent gains or harbingers of future or long-term gains, just because you apparently do.

Regarding projecting long-term growth or loss on a daily basis, I highly suggest taking a look at the stock market's activity in 1930. There where several gains that year that helped to erase or mitigate 1929's losses, so there should have been nothing to worry about for 1931, 1932 etc, right?

[JoeH]

In any case, the unfavorable reaction was not to the stimulus plan. It was to the Treasury Secretary stating it would take another year or more to straighten out the credit and banking problems that were just kept from going completely in the toilet last Fall by that bailout. He estimated it would take anothe $1.5 trillion of government and private funds to do so.

[freeradical]

Porkulus passes. Oh joy. I guess It's safe to say that we all die in the end, so what should I care about reckless spending.

[$tevie]

Is Porkulus the code word that allows the mouth breathers to recognize who belongs to their club?

[Mac1337]

JoeH wrote:
In any case, the unfavorable reaction was not to the stimulus plan.

It is not what you and I write on an obscure internet forum. The entire evening news broadcasts from CNBC down to local news held Geithner responsible. That is what people here. I don't understand why he holds a much hyped news conference, by non other than the President himself, when he admits he doesn't know what the plan is.

[OWC Jamie]

Bush was drunk again on this one.

[RgrF]

billb wrote:
Bush was drunk again on this one.

Did you ever have to clean up after a drunk? It's not a fun job.

[freeradical]

$tevie wrote:
Is Porkulus the code word that allows the mouth breathers to recognize who belongs to their club?

Just for you $tevie...

XOXO

[OWC Jamie]

uh, oh, there's that darned kettle and pot again