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Bailout bill passes House 263/171
Old 10-03-2008, 12:27 PM   #1
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Bailout bill passes House 263/171

The second time was the charm/curse. Now what?
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Old 10-03-2008, 12:28 PM   #2
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Run to Walgreens and buy some Vaseline?
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 10-03-2008, 12:31 PM   #3
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well, there goes the 15% income tax bracket.
or the money printing presses will be cranked up.

actually, i have no idea. i just needed a quick rant opportunity.
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Old 10-03-2008, 12:34 PM   #4
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And here come the sellers, right on cue...
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 10-03-2008, 12:36 PM   #5
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so why isn't it up more? :confused:

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Old 10-03-2008, 12:37 PM   #6
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Buy on the rumor, sell on the news...
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Old 10-03-2008, 12:50 PM   #7
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Will Bush sign it?
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Old 10-03-2008, 12:50 PM   #8
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so why isn't it up more? :confused:


we'll see by the end of the day, but looking at the daily and 5 day chart it looked like some technical sell programs probably got tripped or day traders sold off because some technical signals said sell
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Old 10-03-2008, 12:51 PM   #9
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Will Bush sign it?
Absolutely. He'll sign it today if they get it to him in time.
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Old 10-03-2008, 12:52 PM   #10
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Great! Now all of our problems are solved! The stock market will only go up from here, right?
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Old 10-03-2008, 12:58 PM   #11
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If it puts us back into 2003-2006 bull market days, that would make me very happy. Now we will found out whether or not we were being sold a bill of goods, and if so, how greatly we were duped.

When I was little, sometimes my big brothers would tie me to a chair, dance around me, and play that they were Indians burning me at the stake. (I am not quite sure how Joan of Arc got entangled into their cowboy-and-Indian play.) Anyway, somehow the feeling here is eerily similar... total lack of control or any say in the matter.

Just waiting and watching.
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Old 10-03-2008, 01:11 PM   #12
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The second time was the charm/curse. Now what?
Warren Buffett's going to lead both houses of Congress in a rousing rendition of "Happy Days Are Here Again"...

... and all the campaigning senators (and governors) are going to proclaim that the bailout package only passed on their personal intervention.

In a seemingly unrelated coincidence, today I'm going to listen to a medical startup company give a presentation on how to treat heart attacks and coronary blockages.
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Old 10-03-2008, 01:35 PM   #13
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I'm not looking for the market to go up on this. Well, not today anyway. Wasn't the whole reason for the...bailout, rescue...whatever we're calling it now, wasn't the whole reason for it to stave off economic disaster? I'm thinking I want to see how well the credit markets react before I go all crazy and start buying stuff.
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Old 10-03-2008, 01:38 PM   #14
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A great example of how the media pretends there's a reason for the ups and downs of the stock market:

CBSNews.com headline:


Stock chart:

stockchart.jpg
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Old 10-03-2008, 01:57 PM   #15
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A great example of how the media pretends there's a reason for the ups and downs of the stock market
Note to the readers that the bill's passage is right where the cliff begins to drop straight down on the above chart.
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Old 10-03-2008, 02:55 PM   #16
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Good thing they passed this sucker and stabilized Wall Street. The Dow could have dropped 400 points in less than three hours without the bailout package; it's been quite good at doing that without any help lately...
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 10-03-2008, 03:00 PM   #17
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Makes you wonder what the Dow would have done had the bill failed. Let's see, last time that happened it dropped 778 points. This time it might have climbed back to 14,000, the markets being rational...
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Old 10-03-2008, 03:04 PM   #18
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When I was little, sometimes my big brothers would tie me to a chair, dance around me, and play that they were Indians burning me at the stake. (I am not quite sure how Joan of Arc got entangled into their cowboy-and-Indian play.) Anyway, somehow the feeling here is eerily similar... total lack of control or any say in the matter.
Hey, at least you got to play.
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Old 10-03-2008, 03:09 PM   #19
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Hey, at least you got to play.
That's true! And with the bail-out, at least I get to watch. They could have done all of this behind our backs, claiming national security interests, I suppose.

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Warren Buffett's going to lead both houses of Congress in a rousing rendition of "Happy Days Are Here Again"...
I can hardly wait to join in the festitivities.
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Old 10-03-2008, 03:12 PM   #20
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Am I right in assuming that the $2,300/person doesn't apply to me? That is, for the next 4-5 years I'll be paying little or no taxes, and after that, they should be pretty low.
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