Wall Street Fluctuating!

The Dow Jones industrial average opened today down 250 points. And the main reason for this was that the government said new home construction dropped, which was more than anyone had expected. They also said that this is the lowest since early 1991. No kidding, no one is able to get a loan to buy a home. And on top of that, if you’re a homeowner your home is own in value. Did they really expect any good news coming out of the housing market? And on top of everything else going wrong who really has any money left to buy a home with. With Wall Street losing about $2.4 trillion in shareholder wealth. The wild rollercoaster ride the Dow Jones industrial average has given us is unbelievable. I’m hoping for a good day on Wall Street today. I will take any dollar amount in the green. At this point for Wall Street, a plus day is a good day.

Tags: Dow Jones industrial average, Wall Street

Buying Banks!

It looks as the U.S. Government is getting ready to buy into a few banks. They will be starting with $250 billion of the $700 billion. They funds will be to purchase the banks stock, not loans. This means when the banks stock goes up, we Americans will make money. I vote sell once we make 25 percent, can I do that. And when will I get my check? Wait, it’s the U.S. Government, I’ll never see a check. They will down the road just ask for more money when these companies’s get in trouble again. Or save it when it comes time to bail out the auto industry, because they’re next. Anyway, I think this is the best chance at us making our money back. Another thing to remember here, if these banks fail, we loose, or will we. It’s the U.S. Government; they’ll just print more money until it becomes useless, like their doing for this bailout. Let’s hope for the best, and let’s hope for another big day on Wall Street.

Tags: Banks, Wall Street

Economic Crisis!

Ok, America is heading for another great depression. But it can be stopped, only if the fools that run the great country get their heads out of their you know what and do something. President Bush had called for a meeting with top heads of Congress, McCain and Obama. Now I completely understand why Bush invited McCain and Obama, after all one of them will have this mess on their hands. Now this is where I’m having a hard time getting past Obama’s statement. McCain and Obama have a debate on Friday, but McCain wants to put it off and head to Washington to help fix the problems. After all, both are still Senators, right? But Obama wants to be a bonehead and still have the debate on Friday. He said, “It’s going to be part of the president’s job to deal with more than one thing at once.” Ok, he’s right, but Americans want their President to work on what’s affecting everyone in America. What I think is Obama is looking out for himself and wants to maybe take a vacation to St. Martin villa rentals. I don’t know that for sure, but if he focused on this huge problem all other problems will be solved. Obama is a fool and he needs to start thinking of the American people.

Tags: Bush, Economic Crisis, McCain, Obama

President Bush Warned Americans!

The warning is out for all Americans and lawmakers to get this $700 billion rescue plan approved. Bush stated in his address to the nation that if this bill isn’t passed American people would lose their retirement savings, rising foreclosures, lost jobs and closed businesses. Bush also stated “Our entire economy is in danger,” and he’s 100 percent right. I believe him and his top advisers that this bill is needed. I just don’t agree with putting our money on the line. But then again, our money is already on the line with huge loses if we do nothing. I said this in the past and will say it again; all CEO’s of these companies need to go to jail. They hid their mistakes and cooked the books to make their companies look good. And for that, they should pay. I will end with this, pass the bill now Congress, real Americans are getting hurt in the mess.

Tags: President Bush