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Friday, October 03, 2008

Well, you got what they wanted


The Saviour Bill is passed, and with a sigh of relief, the Dow... DROPS 157 points, as the dealers begin to realize that 200m American taxpayers have shelled-out $3,500 each for nothing at all. Look at the "panic" on Monday when the Bill was thrown out, and the "joy" now.


5 comments:

AntiCitizenOne said...

Maybe my almost constant posts of "The government doesn't create, it is an inefficient transfer agency" has had some effect on Homo-Stockbrokus.

Sackerson said...

The government are feeding the woodworms, aren't they?

James Higham said...

I'm still stunned by the cynical backsliding. I know we shouldn't be stunned but ...

It's stunning.

John East said...

It's mext Monday that I'm looking forward to. The FTSE might fall around 4% just to catch up with the DOW, and if the DOW futures are looking grim, and if the credit markets are still frozen, the FTSE might fall a lot more.

As the above seems likely, and as the opposite to "likely" usually occurs so that those in the know can take my money, I think I'll bet on a 200 point rally instead.

Deb Acle said...

The gvt ARE the woodworms.

I reckon I could construct several rationales for the cynical backsliding - all of which could make more bucks for the worms. It's only when they stop playing these games that the markets will stand any chance of recovery.

Sorry - here's me, a veritable finance ignoramus. But, blimey, common sense...!