Comments on: A Few Points 2 Hours In....

By: Steve S.

Steve S. — Fri, 10 Oct 2008 17:58:51 +0000

Can anyone tell me why our politicians feel that they have to go in front of a camera to try and soothe everyone’s fears that all will be fine and turn a 200 to 300 point drop into a 500 to 700 point fall? It seems the more they talk, the more red the markets see and the worse people’s fears get. Now, they need to do the right thing by just cutting the speeches and fixing the mess they helped create.

By: Marion

Marion — Fri, 10 Oct 2008 17:55:18 +0000

Obama can talk all he wants about reducing taxes:
1. Tax reduction for 95% of all Americans. Math doesn’t add up though since only 60% of us even pay taxes, unless he is talking of a new welfare state.

2. Claims to now see the light and will now help small business. I always thought that big businesses provided a heck of a lot of jobs. Investors sure love their blue chips and I imagine they will like them even more in the days to come. Would be nice not to scare investment dollars away from the US at this time.

Actions speak louder than words however, so check out Obama’s tax history on this web site and while you’re there check out McCain’s record. http://capwiz.com/atr/scorecard.xc

Please think before you vote this November.

By: W. David Walls

W. David Walls — Fri, 10 Oct 2008 17:43:27 +0000

This morning you referenced value of equities to GDP 1932 and now. Can’t locate source. Could you please provide it?
Thanks,
David

By: Bill Seaquist

Bill Seaquist — Fri, 10 Oct 2008 17:26:03 +0000

Brian,

A few months ago before this total meltdown I sent an idea to John Crudele of the NY Post. In a nutshell, the proposal was to let people withdraw 401k money without tax or penalty and let them pay off their mortgage. The shorterm effect on the market would have been a better than the situation we now have. Its all moot now that trillions of dollars have simply disappeared. At least you would still own your home outright and have a roof over your head.John Crudele agreed with me and told me he had an article coming out in a couple of days on this subject, which proved to be true. I also sent this idea to my congressman, but just received the standard form letter. Don’t you think something like this even warranted a discussion. Just think of the disposible income you would have had freed up without that $2500 a month mortgage payment, not to mention all the anxiety that would have been relieved to the homeowner. There are so many pyschological factors that are built into the current panic now going on. Do you think the liberal press is actually rooting for this so their guy becomes president.It is playing a huge factor in the election. Like I tell my friends, the most important thing a president does is appoint Supreme Court Justices. They really do have little sway over economic conditions.

By: Gary Driscoll

Gary Driscoll — Fri, 10 Oct 2008 17:24:19 +0000

“Comment by Ronnie

Oct 10th, 2008 at 12:01 pm

Would like to thank Fox News, George Bush and 8 years of a REpublican congress for this mess we are in. Once again, thanks.”

Odd. I thought the Democratic Party had the majority of seats in both Houses of Congress.

By: Gary Driscoll

Gary Driscoll — Fri, 10 Oct 2008 16:24:57 +0000

I predict that tax cuts will NOT work this time. The basic underlying problems in the economy are that first people, then banks, now the governments are over-leveraged. Inflation has already been kick-started. Any tax cuts will not be accompanied by spending cuts, so they will be on borrowed money. Interest is already a huge item on the budget. It soon will kill all freedom of action in any direction.

Most individuals realize that when you borrow money to pay interest, you are in a losing end game. Any money borrowed by the government to “give back” only means that more money is taken out of the economy (the ‘interest and handling charges’).

By: Symbolic Damacles

Symbolic Damacles — Fri, 10 Oct 2008 16:19:14 +0000

Why aren’t the self-serving Congressmen/women and Senators talking about cutting spending??

They spent and regulated us into this mess, they can surely lead us out! Well, can’t they??? No???!

Idiots!

By: geo

geo — Fri, 10 Oct 2008 16:02:41 +0000

cut taxes???? raise deficit! be ready to dump dollars when China heads for the door. US too big to fail…I have heard that more often than the US can continue to borrow three billion dollars daily forever. get ready to live within your means…YIKES!!!

By: Ronnie

Ronnie — Fri, 10 Oct 2008 16:01:02 +0000

Would like to thank Fox News, George Bush and 8 years of a REpublican congress for this mess we are in. Once again, thanks.

By: John

John — Fri, 10 Oct 2008 15:53:32 +0000

Who is walking away with all this money?

First the fake gas crisis now this.

It’s got to STOP!