Hope at least some of you noticed the early morning network talk shows didn't have anything about the rebounding market, even on their up-to-date news reports. The DOW was already at 300+. But they just lead with doom and gloom and how to deal with the on going trauma. When the market was going down - they were right on it. This simply shows FOR A FACT, that the media runs with the Democratic party and that the Democrats see a bad econmy as good for them if the Republicans are in the White House or a majority in Congress. "Let's blame it on them!"

They blame the current mess on the Republicans. What a laugh. Then they have no clue as to why this came about ON EVERYONES WATCH.

The greatest factors to the cause of this economic slide are in this order:

- EVIL
- GREED
- STUPIDITY

The evil of men in high places (execs.) and even lower places (mortgage brokers); the greed of men (in those same positions); and the stupidity of people signing onto those sub-prime mortgages.

Why can't anyone face up to this???

Ditto Dave.

Actucally I think EVIL, GREED, and STUPIDITY are equal in the line up. But what gets my goat is that the government will continually help the big banks out of their debt but what about the regular people who work so hard to keep a roof over our heads, food on the table, heat the home and electricity for the home, and don't get in over their heads for luxurious things? I don't see relief coming very soon for those of us who are really struggling!

CNN posted a gain of 587.32 @ 1:30 ET. As of 1:05 MT or 3:05 ET that figure and time were still posted. Refreshing the page did not change the information.

Dave, Don't you think the rebulican party would be doing the same exact thing if the roles were reversed?

I wonder if I'm way out there on this, I'd love to hear a comment. I think the Federal outlay is much bigger than we realize.
Item
Issuer
Amount of Outlay

Term Auction Facility
Federal Reserve
$900 billion

Emergency Economic Stabilization Act of 2008
U.S. Treasury
$700 billion

Total USD international currency swaps
Federal Reserve
$620 billion

Other loans: Primary Dealer Credit, etc.
Federal Reserve
$409.5 billion

Hope for Homeowners Act of 2008
U.S. Treasury
$304 billion

Fannie Mae (NYSE: FNM)

& Freddie Mac (NYSE: FRE)
U.S. Treasury
$200 billion

Term Securities Lending Facility
Federal Reserve
$200 billion

Economic Stimulus Act of 2008
U.S. Treasury
$168 billion

Paid to JPMorgan Chase to settle Lehman debt
Federal Reserve
$138 billion

AIG (NYSE: AIG) Bailout
Federal Reserve
$122.8 billion

Commercial Paper Funding Facility
Federal Reserve
$100 billion*

Bear Stearns Brokered Sale
Federal Reserve
$29 billion

Drum roll, please...
Total:
$3,891,300,000,000
Yes, that is 3 Trillion dollars in committment. Now we know that most of that money is just cranking up the old printing press since government has never saved a dime yet. Does anyone agree that neither side is telling the whole story and we have a possible curency collapse ahead.

Actually last night, well before markets here had even opened, CNBC was talking about the huge rallies in Asia and how it pointed to a huge open for today and were showing the S&P futures up at least 150 points rising.
The media doesn't report doom and gloom or greed and prosperity in the markets to benefit the right or left. They go with what's popular and what the momentum is because greed and fear not only drive the markets, but they also drive ratings and they are going to go with what will bring eyeballs to their screen. Remember in 2005 how they were all rah-rah about the markets and housing? Same media then as now, but Republicans were still in office.

It's volatile beyond tradeable and we're supposed to believe that we're all of a sudden saved from economic collapse?

Lew Rockwell is the only place to get some common sense in the world of economics today. I highly recommend his site.

Harley Hog,

You are right on in your assessment of the situation. History has proven that you cannot continue to print money in order to sustain an economy. Why our government refuses to see this is beyond me. They continue to run up the national debt, which is over 9 trillion as it is, and think that flooding our markets with more money is the answer. All they are doing is weakening the dollar and pretty soon our currency isn't going to be worth anything. Other countries in the world have got to be laughing their heads off at our stupidity. If the government would use this money to pay off current debts instead bailing out Wall Street, we would be a lot better off than we are now, and they also need trim off a lot of their own fat. We as American citizens need to live within our own means, and don't see any reason why we shouldn't expect our government to do so also.

I agree with Dave. This is a critical time in our history. Obama is a dangerous choice for our country right now. We are teetering on becoming a socialist nation and discarding that "free market capitalist" experiment thing that has worked for so many years, but now must be discarded so we can try socialism... even though it has failed EVERYWHERE.

Wake up America. Obama is simply spewing 60's rhetoric. He might as well have a VW Van with big flowers on it.

Anyone else notice-

When Obama goes down in the polls,
the Stock Market goes up.

When Obama goes up in the polls,
the Stock Market goes down.

Maybe some Democrats could explain this to me?

Anyone -- other than a day trader -- who pays attention to day-by-day fluctuations of the stock market, versus trends, is just plain naive.

The day's gains do not mean we are all good economically, any more than any day's losses mean we have crumbled. Trends are what are important.

Now the credit crisis, that is something else.

Just checking in to see WHO we are blaming today's stock market results on.

Why do we only play the blame-game when it goes down? No fun to blame somebody when it goes up?

I was mainly wondering if I would see the same people blaming the same people as I did on the down days (President Bush, Congress, CEOs, etc).

I've been consistently saying it's our fault, so I'm going to stay with my position and say today's modest return to sanity is also because we the people (not the government) responded with some common sense for a change.

Come on people, the Democrats and the Republicans are the same when it comes to this issue. Both parties are quickly and -it seems- deliberately moving this country to socialism.
I do agree Harley Hog. The dollar is doomed. And when it meets it fate at last, North America will follow the same route as Europe and form a North American currency like the Euro with Canada and Mexico. All this serves the real people in charge:
The IRS, the Federal Reserve, the UN, and other PRIVATE entities that are seeking even greater control over the global markets.
And sad as it is, we, as a nation, have only ourselves to blame for letting our civil liberties be eroded by these tyrants that we allowed to get above us.

I respectfully disagree. Completely!

The Democrats had a HUGE hand... 90% of the blameon killing Fanny Mae & Freddie Mac. The sound bites from Barney Frank (There is no crisis... all is well.... Republicans are being alarmists), Maxine Waters & Chris Dodd all have financial blood on their hands.

They wanted to stop the "discrimination" against those that couldn't afford a mortgage. It has been a concerted effort on behalf of the "bleeding heart" liberal crowd that is built on class envy and socialism.

The Republicans tried to put in new reforms, but the dems stopped it (back under Clinton). So I place the blame on the basic fundamental beliefs of liberals: That is re-distribution of wealth, plain and simple.

Personally, I'm not interested anymore in the blame game. Dave from Midvalle, you are right on. Let's focus on values and the root causes of issues. George Washington was extremely concerned about Party Politics. It has made us stupid.

We are setting ourselves up for a true economic collapse and the ruin of what our country stands for. We compare our nations debt as a % of GDP to mask our level of irresponsibility. Let's compare debt to the income of the federal government, look at debt payments as a % of federal income and the growing trend there.

Trickle down economics is a joke. Social programs are worse. Tax cuts don't pay the bills. Stimulus packages are advertising for each party - and don't stimulate long-term economic growth.

It is time for simple honesty.

Can I also respectfully disagree.

People Invest and Sell for two reasons:

GREED
FEAR

For a bit, the fear took over, but the stronger emotion, greed won out today.

G-7 meets, says it will all be OK, fear goes away, record day in the market.

Actually, Obama was ahead of McCain by seven points in yesterday's Gallup poll.

Today he's ahead by ten.

Try again.

Wow, they had time to take a poll after the Market closed and publish the findings?

Naw, give it a day.

The Gallup poll came out this morning. Do you think that Obama being ahead could have anything to do with the rebound? Or does the stock market hate America, too?

Utahns are so adverse to change it is sickening. I am a CPA and am qualified to discuss each candidate's fiscal policy. I am also a registered Republican.

Republicans have changed. It is McCain's policy to bail out subprime mortgages by going into homes people can't afford, and requiring the bank to write the loan down to the current value so they can reduce the original mortgage liability they signed for a cheaper one. But only for subprime mortgages.

It's McCain who has proposed to pay for the uninsured by taxing the insured on the value of their employer-paid portion of their insurance.

It is McCain who will raise taxes on the middle class, while Obama's plan outlines reducing the capital gains rate on the rich.

It is McCain's plan that does not pay for itself. Obama's at least comes close.

I don't like it either, being a lifelong Republican. But as far as socialism is concerned, McCain is the socialist, not Obama. Don't believe me? Do some research. The facts are out there. Don't be so blind to continue to vote straight-party lines as most residents in this state do. Be willing to make a change.

Gallup Tracking: Obama 52, McCain 44.
Rasmussen Tracking: Obama 50, McCain 45.
Reuters Tracking: Obama 48, McCain 44.
Hotline Tracking: Obama 48, McCain 42.
Battleground Tracking: Obama 51, McCain 43.
ABC: Obama 53, McCain 43.
Democracy Corps: Obama 51, McCain 42.

AVERAGE: Obama 50, McCain 43. (Obama +7%)

Yeah! that was a seven day survey.
Obama has went back up in the polls-
I plan to sell,
the markets will go back down this week.

>>The Democrats had a HUGE hand... 90% of the blameon killing Fanny Mae & Freddie Mac.

You might be interested to know that the research came out today that put the private lenders (ie. NOT Freddie/Fannie) as the ones lending about 84% of the subprime loans.

Freddie/Fannie were at fault, for sure. But private lenders, by and far, were the most prolific sellers of these loans.

unless John McCain wins the debate WEDNESDAY. and McCain goes back up.

BUY BUY BUY

Such a stupid comment. "I am a CPA and am qualified!!!"

Get serious. Neither one has given us any real information about their fiscal policy. Just shows that CPA's are as gullible and dumb as the rest of America for putting up with this kind of crap we are being fed. No country that is 9 Trillion dollars in debt, has a snowballs chance in hell of getting out of that debt. None. Get it? None!

When the WTC started to collapse, there was no reason to run in and try to hold it up. It had to crash to the ground, and we can only hope to rebuild it.

Guess what? The United States is crumbling and crashing, and NO ONE can save it. It WILL be destroyed, and the odds of it ever being seen again, are slim to none,

and slim has just left town.

So the stock market was down when Obama was up in the polls. Today the Dow gained 936 points...and Obama is still up in the polls.

Your point, please?

(And I'm sure the the government pledging its' socialistic bank aid had NOTHING to do with this. Oh, no.)

Bill O'Riley has a poll.

McCain 66
Obama 34

I poll McCain 55
Obama 43

Nov. 4 2008

Evil? Greed? Stupidity?
Actually, Marx if he were around would say "it's not the people, it's the system." There are severe problems with the capitalist system itself. It periodically malfunctions, often with catastrophic results. Like it or not we are migrating to a different economic system, back to mercantilism? to some kind of socialism a la Marx? I'm not sure. Too bad hardly any contemporary economists have read Marx.

Bankers who were forced by federal law (fair housing act) to loan money for people to buy houses who have no income no job, no assets (ninja loans). Of course most of these loans would become "toxic". Whose to blame? Stupid socialists politicians, but don't worry the government just made YOU and I the holders of these toxic loans! Congratulations, we all got screwed again and by whom? Barney Frank and the Demos! Welcome to the "new" world of socialism.

John McCain is the all least favorite candidate the GOP has ever put forward. He is also the biggest RINO ever be in the Senate. But in a year where the two worst candidates of all time are running--McCain will painfully get my vote. Obama's plan for America is nothing more than a massive wealth redistribution plan. Obama wants to give more money to non-taxpayers to lock in their vote for the next 8 years. Obama is the pied piper of our time but in today's "me first" society. Some are too lazy to recognize or research what an Obama Presidency would do to the USA economically, let alone militarily. It is unbelivable someone with 6 years of school could be so naive and unread to buy into Obama's sham capitalism.

Dave from Midvale: I am with you!

bank stocks didn't move much. That's because the mighty Federal Government is going to move in and wipe out common stock shareholders in banks. The new Socialist USA is here- thanks Jorge- El Presidente- get out of the stock market now and into savings accounts (in another currency preferably)- the money current money printing will be offset in short order by tightening down on the money supply- can you say 18% mortgage interest rates?

The other "I am a CPA guy is either a fraud or an idiot." I don't see him identifying himself either. I am willing to identify myself as a CPA (NV license 992). And Carter with his Fanny Mae and Freddy Mac brilliant idea is what started this mess long ago... putting pressure on banks to make loans to people who were not really credit worthy. We could talk about many other contributing factors. But to insinuate that it is about Bush or McCain or Republicans is utter balderdash.

Oliver K Meservy, CPA

Last Friday I told everyone to Buy, Buy, Buy. Now I've opened my own financial consulting firm and all of my clients have an 11% one-day return, which if you project out a year is a 2860% annual return. I'm a financial genius.

The leftists, liberals and Democrats will always have a spin on everything. Granted, today's gains could easily get wiped out later this week, but even today, with a historic gain in the Dow, they find a way to take credit for it and blame the Republicans.

This country is so divided, I really don't know what's next. I know you Democrats figure you'll win the election and everything will be all patched up (or you'll sue the rest of us and force us to think like you), but the healing won't start until there is a real effort to find common ground a make a few compromises.

. . . a socialist policy is abhorrent to the ideas of freedom. Socialism is inseparably interwoven with totalitarianism and the object worship of the state. It will prescribe for every one where they are to work, what they are to work at, where they may go and what they may say. Socialism is an attack on the right to breathe freely. No socialist system can be established without a political police. They would have to fall back on some form of Gestapo, no doubt very humanely directed in the first instance.

Winston Churchill