Federal Reserve To Finance JP Morgan Takeover of Bear-Sterns

Discussion in 'Current Events' started by wkmac, Mar 17, 2008.

  1. wkmac

    wkmac Well-Known Member

    http://www.bloomberg.com/apps/news?pid=20601087&sid=anMNUEv7YGAM&refer=worldwide

    Seeing this as well as this morning emergency cut in the Fed's fund rate makes you wonder what we don't know. The even worse part for us is the 3 leading ladies in the Presidential beauty contest don't strike me in any way as understanding deeper economic theory.

    If I were Hillary I would be talking fast and furious about the 1990's and the good economic times of balanced budgets and good economic climate including low gas prices. If she could have the public think that her being there at the time would mean she could recreate those conditions, she could have a winner at least with the super delegates who will pick the party nominee and even win over the electorate in the general. But is she smart enough to do that?

    Hmmm? I doubt it! LOL!
     
  2. av8torntn

    av8torntn Well-Known Member

    If Hillary starts talking about balanced budgets of the 90's she may get called out on that. Remember the big Clinton Gore falling out over the long term-short term bonds.
     
  3. traveler

    traveler Where next? Venice

    I was wondering if anyone remembered the change Bill Clinton made in financing the debt with short term bonds while interest rates were extremely low. Sure, it did help create an annual surplus but it left the USA to the vagaries of future rates. Not a very sound plan for the country but it sure did make Bill and the Dem's look good.
     
  4. ups79

    ups79 Active Member

    Can someone explain to me, how making credit easier now will solve the original problem, which was people obtaining easy credit in the first place. I just cannot understand it. I guess for someone who has never had a credit card it is impossible for me to comprehend.
     
  5. wkmac

    wkmac Well-Known Member

    Until you have a credit card, there is no way you can have the intelligence to understand!

    Just kidding. No you are right, it is crazy and seems to have no logic. I even understand it's gotten to the point that Jim Rodgers of Jim Rodgers Holdings and of CNBC fame has even come out and called for an end to the Federal Reserve.


    Jim Rogers on CNBC - Abolish the Federal Reserve!

    The fun part was watching the "Shock and AWE" of the CNBC reporterette's as they go banana's on Jim's solution! GO JIM GO!!!!!!!!!! Bring back no central bank and hard backed currency according to Article 1 Sec. 10 of the Constitution. Hard currency also prohibits inflating the currency which hurts the poor the most and benefits the rich as Jim points out. Where are the democrats "the party of the poor and down and out" on this issue?

    I might also ask, of all the Presidential candidates over the recent year, who had the courage to stand up and say the same thing as Jim Rodgers is saying? The other question is why are the other candidates not at least discussing this issue?

    Hmmm!
     
  6. ups79

    ups79 Active Member

    During the last 42 of my 60 years I was intelligent enough to know "If you don't have the cash you don't need it". I know several at work who thought they needed a new car, new boat, new gun, new everything. When I retired at 25 years of service they said how can you afford to retire. I might never be able to retire they would say. You have no idea how I now enjoy in retirement doing what ever they wanted to do when they were working. You have the option, enjoy your cash in retirement or enjoy while working and never be able to retire. Its up to you.
     
  7. diesel96

    diesel96 New Member

    Ouch, CNBC's "Mad Money" may have lost a few viewers, like the ones who held shares with Bear-Sterns ! Just thought I'd share this with the group:greedy:

    Jim Cramer and Bear Stearns Part Two
     
  8. wkmac

    wkmac Well-Known Member

    Jim Crammer is getting hammered across the board for his comments on Bear-Stearns and rightfully so. I've never been a big fan because I'm not into this 2000 mph frollock stock advice TV stuff so his gimmick is just not my cup of tea. His appeal IMO would do well with overactive 2 year olds and bad cases of ADD. I'm a Warren Buffet kinda guy when it comes to investing. I like Jim Rodgers as well and love him now after his call for killing the Fed.
    :happy-very:

    ups79,

    Good advice my friend, very good advice! As for retirement, it's one reason I started a LLLLOOONNNGGG time ago at shoving 17% of my income into my 401k plan. With all the talk about social security being or not being there and the recent concerns over Central States, it sure was a comfort knowing that 401k was in place. Sad part now is what will gov't economic policy in the longrun do to it's value when I need it the most?