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Ok, say Dow goes down to 5000. What will that mean? Record income to the US government in the form of capital gains taxes resulting from people selling all their holdings at once. And, if you had money in the stock market and removed it from the stock market to fully purchase your...

I am seriously thinking of getting my entire retirement plan out, so I would say we are nearing the capitulation phase. The only reason I'm not selling is because I think this must be panic. Don't know if I can emotionally survive capitulation though. I wish I'd thrown away all my money...

The only part of the whole debate that caught my attention was the Meg Whitman part. I thought both candidates lacked substantive answers, but I really worry about McCain's economic decision making. Meg Whitman to lead us through the great depression? Really? Better to say nothing at all...

Everyone fiddles while Rome burns.

movingaround, I think we have learned that there is no such thing as "no risk". Everbank Marketsafe CDs (I forget the exact name, I'm so fried right now), offer a scheme where your money will go up with the index you choose (such as gold) but will never go below it's deposited value and is...

http://online.wsj.com/article/SB122209290438362805.html Senate Democrats want to add tough new measures to the Treasury Department's proposal to bail out financial firms, including strict limits on executive compensation and a provision that would allow the government to take shares of any...

Living with all these uber-liberals in Califorina, I have been forced to read "The Ominovore's Dillemma" which, I hate to say, has probably radicalized me a bit about the American "subsidy" system. The rest of my knowledge is from growing up around farms, and being raised in a family where my...

NEW YORK (CNNMoney.com) -- Democratic leaders on Capitol Hill said on Sunday that the Bush administration's $700 billion proposal to bail out the financial system lacked necessary safeguards for taxpayers and homeowners. Democrats want the measure to include independent oversight, homeowner...

Because of who Bernanke is we're likely to see inflation over the long term. It won't matter though, if everyone else inflates along with us. Even the Deutsche Banks have tied their money into these problems. (the Mark used to be the second most stable currency compared to the dollar, but it...

I'm talking farm plans and public works. Which, incidentally, should make you commodities traders think a little more about what you're doing. We could be subsidizing a lot of food, or asking a lot of it to get plowed under depending on what they think is important.

I personally would call and say "Remember you are at a historic cross roads. What you chose today will likely be recorded in the history books. If you don't know the ramifications of what you are doing, call and talk to people you really trust who are knowledgeable on the issue. Remember to...

You know, I have to remind myself of a few things though: In 2000 I really didn't think Gore vs Bush made much of a difference. Now, I think how different things might have been if we'd had a president who made FERC step in and be the last regulatory backstop that it was supposed to be against...

Alas, I am thinking we are headed down the rollercoaster as well. Which means we are in the FDR scenario. So it is who you think would make the best FDR redux. McCain and if he dies of a heart attack from the stress, Palin. Or Obama, and if he gets shot by a crazy person, Biden. But...

Sorry Nowowway and tmare, you gotta pick somebody besides Rachel Maddow. She's one of the reasons I stopped watching TV. (Hannity, Wexler, O'Reilly were the others.) As for where this money is going to come from. Yeah, we'll have to reduce medicare and social security. We can move...

Volcker and Lawrence Summers take (April 11): http://www.nytimes.com/2008/04/11/business/11norris.html <blockquote> To be sure, we had a system that worked for generations, based on commercial banks constrained by regulation. But that system is not coming back, as Mr. Volcker noted in his...

Interesting stuff: (I will note that Andrew Jackson had reduced federal debt to historically low levels in 1835. Had nothing to do with the panic, but it's an interesting juxtaposition:) Andrew Jackson was in agreement with Thomas Jefferson (whose objection was to the first bank...

If you look back over the history of the creation of all the different Banking Systems in the last two hundred years (and prior), you'll see smart people arguing against the problems of central banking. "A cabal of private bankers" or "A cabal of private bankers in collusion with a few special...

Nude, Yeah. I'm afraid you might be right. I hope you aren't. I just read this about how usury laws started getting undermined. Not a party thing, just a cascading set of circumstances really. I think this is the origin of where we got screwed...