Sunday, Sep 28, 2008
There is a new problem looming on the horizon while US Congress tries to agree on a plan
Seeking Alpha: It Could Happen - Cramer's Mad Money (9/26/08)
"We are truly in dire straits here people," Cramer told viewers. He said the failure of Congress to pass the bailout plan is causing the banking system to fall deeper into trouble. The markets, he said, are completely out of control.
Posted by jack c @ 12:13 PM (530 views) Add Comment
4 Comments
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1. planning4acrash said...
No, what he means is, that without Marxist intervention, markets will take control, correct the sinking ship, giving us a short, sharp, deflationary depression, that will destroy the power base of the elite. We have three choices, so far as I see. Let the markets go rip, but create a safety net by bring back the troops and slashing taxes. I personally don't believe in the socialist New Deal solution. I think that slashing taxes is much better than bureaucrats deciding where the money goes. They chose afterall to spend it in Iraq, etc! We also need to get rid of all price and wage controls, IMHO. Yes, wages will go down in a deflationary depression, but, if we cut taxes sufficiently, that should not matter and business will become productive again. The second option is, a 10yr depression with OUR money used to prop up prices, wages and fake fiat money markets.
Let the markets take control and remember who is at risk of loosing control.
2. planning4acrash said...
I forgot to mention, that we must leave the EU to get rid of price controls. We must not let the EU pay our farmers with our money to keep fields fallow and plough food crops under whilst we starve during a depression that eliminates food imports. We must take control of our territorial waters and treat French and Spanish fishing as a taxable, regulated export.
3. Japanese Uncle said...
P4c
Aye
4. drewster said...
"The situation right now is so bad that a little Cramer calculus showed the Dow could drop to as low at 8,378 – a 2,768 decline – if Paulson’s plan doesn’t make it through Congress."
Yes, that's why America has the Plunge Protection Team. I say let the markets fall and be damned.