"Major global story -- worst financial crisis in 80 years!"
Good ol' BUSH, PAULSON and their CRONIES in Congress
have REALLY **blown it** with the BIG SWINDLE! It's
backfiring in their faces very dramatically, and has triggered
a worldwide financial/market meltdown.
From CNBC -- As re****ted 3:00-4:40 am, CDT, 10-5-08 --
Per analysts in Asia and Europe, the *Swindle* was the
primary CATALYST for the worldwide PANIC and CRASH that
is sweeping around the globe and will hit North America in
just scant hours from now:
"The Paulson Plan went from 4 pages to 101 pages,
to over 400 pages, and ended up laden with ****k."
"That led to a lot of confusion, and confusion breeds
contempt." The markets have lost confidence. "This
is a crisis in confidence." "The rescue plan did nothing
to restore confidence." "There's no good reason to
be a buyer."
(Above is almost verbatim. As closely as I could
get it while writing it down.)
-- "Financial sector in South Korea may be the first
to collapse." "Banks are being told to sell their
foreign assets to raise cash," but dollars aren't
available.
-- "Very heavy damage in the Asian markets today."
-- Hang Seng (Hong Kong) down 5%.
-- Shanghai (China) down 5.2%. Gov't. trying out
margin trading and short selling to try to stem
the decline. Without that effort, could have been
even lower. China's markets largely go on their
own momentum; but "this global meltdown is
finally being felt in China, affecting their funda-
mentals." Projected growth rate for China has
been reduced to 7%, and 8% was considered
"critical." "A real earnings recession issue."
-- "This is a systemic attack on the financial system."
-- Japanese financials are down 7-to-9%. "Asia hit
by a massive selloff." "Passage of the Paulson
Plan has had a ripple effect around the globe."
"Banks and financials all heavily hit today."
-- Nikkai fell 4.5%; now at its lowest since 2004.
-- Japan has shored up banks by about 26 trillion
yen in the last two weeks. "That's equal to 1/3
of the national budget."
-- "People are running for the hills." "You get the
Paulson Plan... and then sell off around the world!"
-- FTSE down 5.4% at midday in London. UK banks
are down 4.5% to 14%.
-- In Germany, Hypo Real Estate is down 35%, and
Deutche Bank almost 8%.
-- Europe has no coordinated plan. Response there
is "heterogeneous" and fragmented. There is no
real bailout plan. FTSE markedly lower already, and
"Paris is pretty much the same." Many Key listings
in the FTSE are down 13-19%. Quote: "Divided
we fall, in Europe." "Asian markets are really
hemorrhaging today."
-- "Maybe we DO need a European rescue plan. Well,
maybe not European, but we'd jolly well better help
the German investors." "Resource stocks, banks,
and finacials are being heavily hit."
-- "Credit markets are in an unprecedented state. Basic-
ally, its in a freeze."
-- Cor****ate insolvency can follow, but that's still down
the line. At some point we will se something happe-
ning in the next 2-3 months." "That may be the next
shoe to drop."
-- "Governments may have to recapitalize the banks."
"If that doesn't happen NOW, we are frozen and
dead in the water." "But the funding may not be
there." For example, "Deutche Bank is 80% of the
German GDP."
-- Crude Oil is down to $89.62/bbl.
-- India -- the four markets are down 4.5% to 8%.
-- Here in USA, DOW Futures down: -259 at 4:40 am
am, CDT. (Ironically, Europe has been taking such
a ba****ng, the dollar is actually *up* vs. the Euro.
1 Euro = 1.3564. "The Euro is really on the skids
today. Nobody really knows what's going to take
place because no one has ever seen such a market
environment." "Euro could fall to %1.35... or back
up to $1.50.") "Currency is extremely volatile."
S&P Futures: - 37.8 Nasdac Futures -37.8.
-- They've finally determined that the buyout of
Wachovia Bank will be by Wells Fargo, and not by
Citigroup.
If there's any GOOD news about all of this, THIS is it:
It just may give Americans their best chance EVER to vote
ALL their Rascals OUT of Congress in November -- ALL in
the House who voted "yes" for the BIG SWINDLE... and
all who are up for re-election this year, in the SENATE,
who voted "yes."
Let's DO it! And TO do it, we EACH need to vote our
OWN Rascals out. Just complaining about OTHER people's
Rascals won't work!
-- (¯`·.¸Craig Chilton¸.·´¯)
xanadu222@[EMAIL PROTECTED]
-- To E-Mail me.
http://www.roadrat.com
-- Learn how to get PAID to TRAVEL.
http://apifar.blogspot.com
-- Great TACTICS to Fight Bigotry.
http://pro-christian.blogspot.com
-- Christianity *vs.* Bigotry.
And with Election Day looming, THIS site is a MUST:
http://www.blackboxvoting.org/
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