Hi Everyone,
This has been an interesting week on wallstreet with one thing after another,wallstreet had its lowest week since october 1987 they lost 18 percent of the stock market. Hold on everyone it looks like next week is going to be another bumpy ride, as I have said before if you are uncomfortable, or cannot sleep at night. then I would get out for awhile. I personally get out just for your information I and Dave are not in the market we are retired, and live off his pension,
I have some websites for you so that you can look up them and read there stuff yourself the first one is The whitehouse , www.whitehouse.gov/infocus/economy the next one is the treasury deptmartment www.ustreas.gov and then there is the world bank , www.worldbank.org and the last one is the IMF which is the last one for now its www.imf.org/external/index.htm, the last one was the International Monetary Fund they at this point dont have any idea how to unfreeze the markets ,but some of the 5 part program that Bernanke and Paullson came up with was tried before and I have no idea it will work ,becuase lets put this way Mr Hoover tried it in 1932 and it did not work back then and theres an old saying my mom used to say all the time was you look at previous behavier to determine if something did not work before then it will not work later since the begining of the year we have lost 8.4 trillion dollars in retirement funds and stock markets,
this weekend the G-7,the G-8,the G-15,the G-20 are all in DC all meeting to discuss the Pualson plan which Germany and France both say they do not like when asked what they would like they said money for proping up their banks on the
Lou Dobbs show this week they said that Morgan/Stanley may be bought up by Mitisubishi UFI which is a insurance company in japan,
GM General Moters is in talks with Chrysler and also Ford they GM was just given 25 Billion just last week to help them out but they still have 25 Billion more headed there way and from what I read its GM that asked for the talks I found that interesting ,if you think we are upset you should see the panic in London they were rioting in the streets, theres a rating system for the banks and apparrently it was not working its supposed to rate the soundness of the banks and instead they were hedging the banks and so now really healthy banks are in big trouble oh something I read this week was a story about the deppression was about Jpmorgan and Mr Dupont were friends and got together and hired a general MR Smedlilay to do a cu de tau against FDR becuase they were afraid he was going to redisribute the wealth from the rich and give it to the poor and this really scrared them they just did not want to part with their money thats all for tonight so have a great day tommorrow I gotta go and some rest got a bad cold so will write more tommorrow I found out stuff that well make your eyes red,Barb Brainerd