Friday, September 05, 2008

Could today be a "Black Friday"?

Stock markets tanked around the globe yesterday while today's "just released" jobless figures are bleak. Market Futures, in turn, look quite ugly right now. Will we see another significan selloff today? Will we make new lows?


Tim said...

Unemployment jumped over 6%, and that's the "official" figure. Seems like a death spiral to me. Mortgage collapses -> financial crunch -> layoffs -> unemployment -> more mortgage collapses -> bigger financial crunch -> more layoffs...

Anonymous said...

...."Purse" Paulson and the PPT just sprinkled their Magic Fairy Dollar Dust 90 minutes ago and everything is OK again. Whew! Isn't it amazing how in the course of NO GOOD NEWS (actually all to the contrary) - within a period of 90 minutes - the Dow erases a 100-point deficit like MAGIC!

If we were to manipulate the market like that, we'd end up in the "gray-bar hotel". I'm counting out dimes to pay the electric bill and they spend my grandkids money making sure the toilet doesn't flush on THEIR "Watch". Both Bushes are lying sacks of bovine fecal matter! The Junior will go down as the WORST President in history & I voted for the man - mark my words. The whole thing sickens me.

Black Star Ranch

Justin_n_IL said...
This comment has been removed by the author.
Patrick said...

Nevada State Bank Acquires the Insured Deposits of Silver State Bank, Henderson, Nevada

Silver State Bank, Henderson, Nevada, was closed today by the Nevada Financial Institutions Division, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a Purchase and Assumption Agreement with Nevada State Bank, Las Vegas, Nevada, to assume the Insured Deposits of Silver State Bank.

Anonymous said...

Silver state closed down today.

jerry said...

Bada Bing Bernanke and Hank "the Paulie" Paulson are so over their heads that they can feel heavy downward atmospheric pressure bearing on 'um. They gave up their old cushy jobs to become entrenched in the White House crime family. It is only a matter of time before the economy looks like the St. Valentine's Day Massacre especially if Cheney sees red and goes for the Iranian jugular by attacking with an unmanned warhead. I bet he will have a paper cut-out figure of himself mounted upon the barrel of the missile like in the movie Dr. Strangelove.

It is time to prepare the new Y2K. Cheney saying,"You 2 Kremlin!". (Y2K)

Andrew McCain had his fingers all over Silver State Bank. He now can use his dad's moniker--

Anonymous said...

Mel said...
I'm sure you heard by now, Silverstate closed today as you predicted.

Randy said...

Tim, Jerry & Anon,

Couldn't agree more.

News released today:

- Unemployment at 5 year high after major upward revisions to June and July figures

- US Mortgage Delinquencies and foreclosures at a 3-decade high

- Treasury working on a bailout plan for Fannie and Freddie this weekend

- Merril Lynch cut to "Sell"

- Fears of a new major hedge fund collapse soon

Wish I had some of the PPT's magic Fairy dust...

Patrick and Mel - Thanks for the skulls up on Silver State. I was unaware till I opened my inbox.

Regards to all - and thanks for posting up!