But there is No recession

[46zilzal]

Unfortunately the war and the totally out of control spending comes back to bit them
http://money.cnn.com/2008/09/15/markets/markets_newyork2/index.htm?cnn=yes

[bigskyguy]

McCain is saying that the fundamentals are "still strong"...i think he's already going senile...this coming from a guy who's sold more flipflops than a Vietnamese shoe store

[lamboguy]

mccain better get a handle on things real quick, he is a dead assed cinch to win the election, the only way he can lose is if he says stupid things like we have a strong economy.

i think mccain will be great for gold

[PaceAdvantage]

McCain never said we have a strong economy, and anyone who claims or thinks he said this, is either an idiot or a liar. Which one are you?

And no, there is no recession yet. Where is it? I don't see a recession. Check out the most recent consumer confidence numbers...do they scream recession to you?

Check out GDP...check out monthly non-farm job losses. Still not approaching traditional recessionary levels, but I get it...this time "it's different." Now where have I heard that line before?

These banks aren't in trouble because there is a recession. They are in trouble because they TOOK ON WAY TOO MUCH RISK. The fact that this is happening now is bad in the short run, but GOOD in the long run.

The market has taken a dump before, and it will take a dump again. You guys are way too reactionary.

McCain's not senile. He's actually saying something I've been saying for quite some time. When I would say the things McCain said, people would come back at me later and accuse me of saying "the economy is STRONG!"

I never said such a thing, and neither did McCain.

[wonatthewire1]

McCain never said we have a strong economy, and anyone who claims or thinks he said this, is either an idiot or a liar. Which one are you?

And no, there is no recession yet. Where is it? I don't see a recession. Check out the most recent consumer confidence numbers...do they scream recession to you?

Check out GDP...check out monthly non-farm job losses. Still not approaching traditional recessionary levels, but I get it...this time "it's different." Now where have I heard that line before?

These banks aren't in trouble because there is a recession. They are in trouble because they TOOK ON WAY TOO MUCH RISK. The fact that this is happening now is bad in the short run, but GOOD in the long run.

The market has taken a dump before, and it will take a dump again. You guys are way too reactionary.

McCain's not senile. He's actually saying something I've been saying for quite some time. When I would say the things McCain said, people would come back at me later and accuse me of saying "the economy is STRONG!"

I never said such a thing, and neither did McCain.


Looks like the guys are picking up some old stuff from 1Q08 comments

http://www.factcheck.org/elections-2008/distorting_mccains_remarks.html

[lamboguy]

with all due respect to anyone that is confused about if we are in a recession or not. we technically are not right at the moment, however after today with the loss of aproximately 26,000 jobs with lehman going down, and the anouncement from hewlitt packard that they are cutting 25,000 jobs in the united states, with lots more to impact the job market. i suspect we will officially be in a recession real soon. in my opinion, the republican party is a full blown left wing party after this trainwreck of a so called administration for the past 8 years, put that together with the democratic party being a bonified left winger, you have plenty of problems. because 2 negetives do not equal a positive. you can twist or say anything you want, even though there is a counter trend rally to the dollar, and gold has been destroyed, they both are still in much different places than they were 8 years ago.

good luck being technical about what is going on in our country. the pickpockets and hoodlums are in charge, and have been for the last 8 years.


hopefully mccain will be different and not a continuation play

[Rookies]

Pace:

He said this:

"The fundamentals of our economy are strong, but these are very, very difficult times.”

" Very, very difficult- indeed. " Forget about the markets going for a shite, the whole economy is teetering now in the balance and recession is around the corner... unless there is something very dramatic happen on many fronts.

Only true believers, drinking the Bush Kool Aid, see that as happening !

[richrosa]

These banks aren't in trouble because there is a recession. They are in trouble because they TOOK ON WAY TOO MUCH RISK. The fact that this is happening now is bad in the short run, but GOOD in the long run.


Agree 100%. What's missing is why they took too much risk. Congress ordered the banks to take on mortgages that less qualified people could qualify for as they tried to clean up the early efforts of subprime lending, which Congress considered to be predatory, especially against minorities. So instead of a cottage business Congress ordered subprime out of the shadows, in which the big banks all took a part in. I will agree, however, that the big banks are certainly NOT blameless. They saw the rates that they were getting funding subprime, and many got greedy and expanded their exposure, thus creating a bubble.

In the long term this is good. Anyone who has ever worked on the credit side can tell you that there are clear cycles, and while this cycle is really bad, it followed a really good cycle. After this shakeout, the existing banks who will survive and new institutions that are being created may get strong enough to enjoy the next good cycle. Trust me, as bad as this is, there are many lining up getting themselves ready to take advantage of the uptick when it happens.

[Valuist]

Any die hard Bush backer can point to the GDP and deny a recession but anybody knows that the GDP in Q2 was meaningless thanks to the stimulus checks.

The Dow was at 11,000 in July of 1999. Now, more than 9 years later, its under 11,000. So much for buy and hold.......buy and hold the bag.

[Valuist]

Agree 100%. What's missing is why they took too much risk. Congress ordered the banks to take on mortgages that less qualified people could qualify for as they tried to clean up the early efforts of subprime lending, which Congress considered to be predatory, especially against minorities. So instead of a cottage business Congress ordered subprime out of the shadows, in which the big banks all took a part in. I will agree, however, that the big banks are certainly NOT blameless. They saw the rates that they were getting funding subprime, and many got greedy and expanded their exposure, thus creating a bubble.

In the long term this is good. Anyone who has ever worked on the credit side can tell you that there are clear cycles, and while this cycle is really bad, it followed a really good cycle. After this shakeout, the existing banks who will survive and new institutions that are being created may get strong enough to enjoy the next good cycle. Trust me, as bad as this is, there are many lining up getting themselves ready to take advantage of the uptick when it happens.

THey took on the risk because at the time, they were making boatloads of money and they never envisioned the housing market would crumble. I heard one popular mantra was "we take on high risk because we are better at identifying risk than previous generations". The ultimate in arrogance and narcissism.

We've created a bubble economy. We went straight from the tech bubble to the housing bubble. Recently look at commodities and oil.

[lamboguy]

the bigest thing that has happened recently is the naked shorts running around blowing up company's. the have abolished the short on an up-tick rule.

remember the lessons of the recession of 1907. mr JP MORGAN called in JESSE LIVERMORE and made him stop shorting banks. as long as guys like LIVERMORE were in control there would never have been a recovery.

today you have politions on the side of ruining our great country. thank you mr. bush and all your conartist left wingers for hanging our butts out to dry.

good luck

[wonatthewire1]

THey took on the risk because at the time, they were making boatloads of money and they never envisioned the housing market would crumble. I heard one popular mantra was "we take on high risk because we are better at identifying risk than previous generations". The ultimate in arrogance and narcissism.

We've created a bubble economy. We went straight from the tech bubble to the housing bubble. Recently look at commodities and oil.


and to think that we could've privatized Social Security for some more banking fees!

Grammys all over the US of A would be digging through the trash today looking for those IOU's and a few scraps of food.

[finfan]

We've created a bubble economy. We went straight from the tech bubble to the housing bubble.

Speaking of bubbles

Recession-Plagued Nation Demands New Bubble To Invest In

July 14, 2008 | Issue 44•29 (http://www.theonion.com/content/index/4429)

WASHINGTON—A panel of top business leaders testified before Congress about the worsening recession Monday, demanding the government provide Americans with a new irresponsible and largely illusory economic bubble in which to invest.

"What America needs right now is not more talk and long-term strategy, but a concrete way to create more imaginary wealth in the very immediate future," said Thomas Jenkins, CFO of the Boston-area Jenkins Financial Group, a bubble-based investment firm. "We are in a crisis, and that crisis demands an unviable short-term solution."


http://www.theonion.com/content/news/recession_plagued_nation_demands

[barn32]

the bigest thing that has happened recently is the naked shorts running around blowing up company's. the have abolished the short on an up-tick rule.

remember the lessons of the recession of 1907. mr JP MORGAN called in JESSE LIVERMORE and made him stop shorting banks. as long as guys like LIVERMORE were in control there would never have been a recovery...

75% of shorting is done by institutions.

[lamboguy]

true, and naked shorting at that!!!

[RaceBookJoe]

Any die hard Bush backer can point to the GDP and deny a recession but anybody knows that the GDP in Q2 was meaningless thanks to the stimulus checks.

The Dow was at 11,000 in July of 1999. Now, more than 9 years later, its under 11,000. So much for buy and hold.......buy and hold the bag.

"Investors" who are 'buy and holders' need to blame themselves not bush. Its peoples lack of investment education that gets them hurt. Whether it is the wrong investment or not knowing when to get out, at the end of the day, you have got to be the one ultimately responsible for your money. Maybe one day the education system will teach proper investing so people will know what to do in certain situations. rbj

[HUSKER55]

The giant companies took on too much risk and the giant companies sent jobs overseas and the and the PFC had to take it on the chin. Now the giant companies say we have a recession and government (us PFC's) are expected to bail them out. Why? They screwed the pooch, not us. They are the ones to blame and no one else. Us PFC's have said for years to bring the jobs back to the US and NOOOO.

Pardon me, but it seems they are "blowing their own horn" if you get the drift. The real culprit are the CEO's who based their earnings on high risk mortgages.

Of all the companies listed on the trading floors, how many are in trouble?

It has been awhile but if memory serves, (and it might not), doesn't a huge percent of all markets have to make a huge decline instead of just one group?

Does anybody know the straight dope on that?

As for the price of gold wasn't the price artificially high for a long period of time? I thought the surtax was supposed to take currency out of the market and stabilize the price closer to where it should be. Is this that adjustment or am I wrong, ...again?

Thanks



husker55

:)

[RaceBookJoe]

The giant companies took on too much risk and the giant companies sent jobs overseas and the and the PFC had to take it on the chin. Now the giant companies say we have a recession and government (us PFC's) are expected to bail them out. Why? They screwed the pooch, not us. They are the ones to blame and no one else. Us PFC's have said for years to bring the jobs back to the US and NOOOO.

Pardon me, but it seems they are "blowing their own horn" if you get the drift. The real culprit are the CEO's who based their earnings on high risk mortgages.

Of all the companies listed on the trading floors, how many are in trouble?

It has been awhile but if memory serves, (and it might not), doesn't a huge percent of all markets have to make a huge decline instead of just one group?

Does anybody know the straight dope on that?

As for the price of gold wasn't the price artificially high for a long period of time? I thought the surtax was supposed to take currency out of the market and stabilize the price closer to where it should be. Is this that adjustment or am I wrong, ...again?

Thanks



husker55

:)

This is just about the section about the market decline. Because most major indeces are cap-weighted, the so called "markets" can move one way while the majority of stocks are moving the other way. For example, I wrote this in another thread, but the 2000-2002 bear market actually started in the spring of 1998. Most stocks were already headed down, it was only about a dozen or so stocks that were going absolutely crazy that kept the markets going up. So like I said a couple of posts up, if you were in the "buy and hold" mode, which usually means diversified, you didnt make the big gains that the "market" appeared to be making, because the majority of stocks were already in their own bear market. Your point is kind of right also though....because when one sector gets a major hit, others follow sometimes, whether deservedly or not. Sometimes the markets go down, more and more people get scared and sell...leading to more down movement. rbj

[JustRalph]

Wow, I used to think I didn't know anything about the markets...........

You know, this thing had to correct...........it has and a bank bit the dust due to bad management. Bush wasn't managing Lehman ........give me a break.

[RaceBookJoe]

Wow, I used to think I didn't know anything about the markets...........

You know, this thing had to correct...........it has and a bank bit the dust due to bad management. Bush wasn't managing Lehman ........give me a break.

A lot of money can be made during these corrections. If it wasnt for the pain they cause to many people, i would really look forward to them. rbj

[riskman]

Look at it this way. It'll be something to tell your children about, as you all sit around the campfire and open your last can of food.

Or you can learn to shoot moose.(Sarah P. will instruct you)

Of course, someone might still blink, putting off the day of reckoning for a few more weeks, or a month or two. But I doubt that can be done much longer.

This will be a good week to be unconscious. Or heavily drugged. Your choice, because we're free and that's why they hate us.

Or something.

[lamboguy]

SEC Preparing Rules Against Manipulative Short Sales (Update1)
By Jesse Westbrook and Edgar Ortega

Sept. 15 (Bloomberg) -- The U.S. Securities and Exchange Commission will likely stiffen rules targeting manipulative short selling after a stock-market rout triggered the bankruptcy of Lehman Brothers Holdings Inc., a person familiar with the matter said.

The SEC may strengthen rules this week by requiring brokers to deliver shares that have been sold short, according to the person, who declined to be identified because the plans aren't complete. The SEC also will consider it securities fraud when short sellers deceive brokers about their intention to deliver shares to buyers, the person said.

The SEC doesn't plan to revive an ``emergency'' order that expired last month aimed at curtailing so-called naked short- selling in Lehman, Fannie Mae, Freddie Mac and 16 securities firms. The rule required investors betting on a decline in stock prices to arrange to borrow the shares before completing a sale.

``The emergency order was mostly a symbolic action,'' said James Angel, a finance professor at Georgetown University in Washington who studies short-selling. ``I see no evidence that there was rampant naked short-selling in those particular stocks.''

SEC spokesman John Heine declined to comment.

Lehman, facing losses from mortgage holdings, today filed a record Chapter 11 bankruptcy petition in Manhattan, declaring more than $613 billion of debt. The decision came after Lehman shares slid 77 percent last week in New York Stock Exchange composite trading and Barclays Plc and Bank of America Corp. abandoned talks to buy the New York-based securities firm.

The new rules may eliminate an exemption that options market makers had from delivering shares of companies placed on so-called threshold lists. Companies are listed when they have a high number of borrowed shares that have not been delivered.

Threshold List

The SEC may also shorten the time brokers have before they must step in and buy a company's stock to clear a short sale. For companies on the threshold list, the SEC mandates that brokers act after 13 days.

The changes target naked short selling, in which traders never borrow shares. The SEC is concerned manipulative investors may use the sales, which are legal in some circumstances, to drive down prices by flooding the market with orders to sell shares they don't have.

In traditional short sales, traders borrow shares that they sell. If the price drops, they profit by buying back the stock, repaying the loan and pocketing the difference.

More... (http://www.bloomberg.com/apps/news?pid=20601087&sid=as8Xxj.7ncJM&refer=home)

[Tom]

What is being corrected?
Democrat interference and CEO incompetance.

[Valuist]

"Investors" who are 'buy and holders' need to blame themselves not bush. Its peoples lack of investment education that gets them hurt. Whether it is the wrong investment or not knowing when to get out, at the end of the day, you have got to be the one ultimately responsible for your money. Maybe one day the education system will teach proper investing so people will know what to do in certain situations. rbj

I tend to agree. My comment on Bush was re: an earlier comment about GDP. I agree most people don't know better because they've been conditioned to believe that "buy and hold".....the market ALWAYS goes up. Did work for a number of years in the 80s and 90s but it hasn't worked for the past 9 years. As for the educational part, that will only work if people are willing to be educated about it. Most find it boring, so they won't bother.

As for the post about short selling, I don't think short selling is the problem. How much of it is naked shorting anyways? These companies had high percentage of their float short because they had major financial problems. Interesting how the SEC will target short sellers but never does anything against longs who pump stocks on message boards and make up lies to pump their stocks.

[ceejay]

I would say chances are very high (1:5 fair odds) that we are in (or will be very soon) a recession.

[wonatthewire1]

Maybe one day the education system will teach proper investing so people will know what to do in certain situations. rbj


Excellent point RBJ - that is why home schooling and vouchers are the only way to go with the education system.

Look at the crap the public edu system tosses out there now and calls "educated"!

:rolleyes:

[PaceAdvantage]

I feel sorry for those who think the world is about to end....you're seriously misinformed.

One interesting point in all of this is that oil and gas are PLUMMETING....oil is nearing $90/barrel....three months ago, it was pushing $150...

[sammy the sage]

^^^^^

Yeah that's BRILLIANT...we get VASEOLINE...after we've been RAPED!

Perhaps everbody's waking up to the fact that OUR money is approaching the value of MONOPOLY or ZIMBAQUE bills in value...

After this lastest bail-out's...who's GONNA PAY for this :bang: :mad:

You're right about ONE thing P.A...no recession according to those stats you hold so precious and dear...

BUT...a 1929 DEPRESSION is GETTING very CLOSE :(

AND no I really don't want to be right here...UNFORTUNATELY.............................. .............................

[lamboguy]

the world ain't ending now, but bush's term is ending in about 4 months, that can't be all that bad!

[Valuist]

PA-

Its true oil is down over 35%. Unfortunately, gas is barely down. Gas here in Chicago was $4.25 when oil peaked at $147/barrel. I paid $4.19 earlier this week. As for the world ending, the rest of the world seems to be following our lead into recession.

But all that said, GS is looking tempting to buy.

[ddog]

I feel sorry for those who think the world is about to end....you're seriously misinformed.

One interesting point in all of this is that oil and gas are PLUMMETING....oil is nearing $90/barrel....three months ago, it was pushing $150...

the world , no , some worlds , yes.


that gas point , that's a sharp one alright.

maybe you could check out wages and industrial production even foreign economies, our exports you know.

[ddog]

better re check that earl there .....
http://money.cnn.com/2008/09/17/markets/oil/?postversion=2008091715

[46zilzal]

The Dow Jones industrial average (INDU) lost 449 points, or 4% and fell to the lowest level since November 2005. The Standard & Poor's 500 (SPX) index lost 4.7% and fell to its lowest point since April 2005. The Nasdaq composite (COMP) lost 4.9% and ended at its lowest point since August 2006.

[Show Me the Wire]

The Dow Jones industrial average (INDU) lost 449 points, or 4% and fell to the lowest level since November 2005. The Standard & Poor's 500 (SPX) index lost 4.7% and fell to its lowest point since April 2005. The Nasdaq composite (COMP) lost 4.9% and ended at its lowest point since August 2006.

So the drop in the market is not an unique happening. The dose of reality is it happened before.

So what is your point? Are you saying the market will never recover, this time, as it has from the past down turns?

[classhandicapper]

It's not possible to answer the recession question without good data, but the government cooks the books. So that's impossible.

The government is reporting that REAL GDP is positive, but it does that by subtracting a specific inflation figure from nominal GDP (the deflator) and arriving at a REAL GROWTH RATE. The problem is that virtually everyone thinks that the inflation figure they are using to calculate real GDP is woefully too low. If you used CPI for example instead, it would show that real growth is negative.

[sammy the sage]

^^^^^^^^ :bang:

Don't break/explain P.A.'s (head in the sand) figure's....I tried to tell 'em this several month's ago!!!

I call it ""Ostrich" time! ;)

[lamboguy]

i hate to agree with the sage, but it looks like the man is right on. this market is going down the worst way you could possibly imagine, slow and sure. it is a classic bear. with all these institutions broke, there is a long way down. and the sick part about it is that we really aren't that far away from the top.

[PaceAdvantage]

^^^^^^^^ :bang:

Don't break/explain P.A.'s (head in the sand) figure's....I tried to tell 'em this several month's ago!!!

I call it ""Ostrich" time! ;)It's amazing this country has ever had a recession, given all these false numbers floating around...

How's that?

[PaceAdvantage]

better re check that earl there .....
http://money.cnn.com/2008/09/17/markets/oil/?postversion=2008091715Oh shit, you mean it's up to $97? Better start hoarding....

[PaceAdvantage]

Are you saying the market will never recover, this time, as it has from the past down turns?These guys don't seem to realize that ONLY NOW have we retraced 50% of the BULL RUN from 2003 to 2007, when the S&P 500 DOUBLED from around the high 800s all the way up to around 1600.

They think the world is coming to an end just because the market has put in another normal 50% retracement from a major low to an intermediate high.

Could we retest the 2002 lows? Sure, anything is possible. But there's also a decent chance that where we are now will turn out to be a pretty good support level, as it seems we're "getting rid" of all the dead wood at once out there on Wall Street, and the election is right around the corner.

[Tom]

This economy couldn't be better.
In one sort week, I now have 50% of all the houses in this country in my portfolio and I own two lending institutions.

[RaceBookJoe]

This economy couldn't be better.
In one sort week, I now have 50% of all the houses in this country in my portfolio and I own two lending institutions.

Can i get a loan, and a place to stay in CA...the Breeders Cup is just around the corner:lol: rbj

[ddog]

These guys don't seem to realize that ONLY NOW have we retraced 50% of the BULL RUN from 2003 to 2007, when the S&P 500 DOUBLED from around the high 800s all the way up to around 1600.

They think the world is coming to an end just because the market has put in another normal 50% retracement from a major low to an intermediate high.

Could we retest the 2002 lows? Sure, anything is possible. But there's also a decent chance that where we are now will turn out to be a pretty good support level, as it seems we're "getting rid" of all the dead wood at once out there on Wall Street, and the election is right around the corner.


If you believe and invest on the dead wood theory you have proposed here then god help you.

there will be , as always some bear rallies, but if you think the last 10 years(inflation adjusted) were bad for by and hold stocks, the next 3-5 are going to make that seem like a roaring bull.

Also, you really seem to have a blind spot, this ain't all about the stock market.
that's a sideshow, you are looking at structural failures now.

The Chris Cox(read Ken Doll) has gone off the deep end on the shorts, that's nuts and scapegoating.

The idiots that ran these IB ,etc. wrote their own shorts with the nutso CDS crap.

[ddog]

Can i get a loan, and a place to stay in CA...the Breeders Cup is just around the corner:lol: rbj


a little dark humor I heard somewhere yesterday,

Morgan and wachy merging is like the hindenberg crash landing on the deck of the titanic.

Sadly , how true, better to let Morgan go bk and get sold off than create an even larger mess down the road.

If even the Chinese won't come in , then you know it's toast.

[RaceBookJoe]

The Dow Jones industrial average (INDU) lost 449 points, or 4% and fell to the lowest level since November 2005. The Standard & Poor's 500 (SPX) index lost 4.7% and fell to its lowest point since April 2005. The Nasdaq composite (COMP) lost 4.9% and ended at its lowest point since August 2006.

When you get a chance, can you post the % gains for today, at least have the nuts to show both up days and down days. thanks

[lsbets]

When you get a chance, can you post the % gains for today, at least have the nuts to show both up days and down days. thanks

The only nuts he has are roomates at the asylum.

[46zilzal]

A single day's response after pouring billions down the drain to bail out incompetence is not going to make a long term difference.

[Secretariat]

This economy couldn't be better.
In one sort week, I now have 50% of all the houses in this country in my portfolio and I own two lending institutions.

Plus the largest insurance company in the world, AND it looks like now you'll get a debt repository to cover all the bad debt. Sounds great for the taxpayer doesn't it?

The Real McCain

"We should never again allow the United States to be in this position. We need strong and effective regulation, a return to job-creating growth and a restoration of ethics and the social contract between businesses and America." - John McCain, Sept. 17, 2008

"When I came to Congress, Democrats were in the majority and they used government to make our choices for us. They took from us an ever greater share of our freedom and property to do the things American families and communities are better able to do for ourselves. They grew government for the sake of their own power, and used the American economy, the wonder of the world, to serve their ends not ours. They taxed it, regulated it, and injured it for the sake of partisan and parochial interests rather than liberate it, incentivize it and put it to work for all Americans." - John McCain, April 2007

[robert99]

Where did it all go wrong then?

"President George W. Bush’s first term has been among the most consequential and successful in modern times. Under his leadership, the United States is waging and winning the war against global terrorism. The United States and its coalition partners liberated more than 50 million people from two regimes of extraordinary brutality that had provided safe haven to terrorists. And we are promoting democracy in regions of the world that have never known it.

The United States military is receiving the strongest support from a commander-in-chief in two decades. President Bush has taken unprecedented steps to stop the spread of weapons of mass destruction – and he has signed one of the most sweeping arms reduction pacts in history. America is in the process of deploying a missile defense that will help protect the United States and its allies from catastrophic attacks. President Bush signed into law landmark legislation that better prepares our defense establishment to meet the challenges of the 21st century – and he announced the most comprehensive restructuring of US military forces overseas since the end of the Korean War.

During his first term, President Bush has signed into law three major tax cuts, including the largest in two decades – and since the summer of 2003, America has had the fastest-growing economy of any major industrialized nation in the world. Under President Bush’s leadership, the economy has been growing at rates as fast as any in nearly 20 years. The homeownership rate has been at a record high. Interest and mortgage rates have been near historic lows. The core rate of inflation over the past year ranks among its lowest in 40 years. The rate of growth of Federal spending is slowing, jobs are being created at a brisk pace (1.3 million jobs in the first six months of this year), and the unemployment rate today remains below the average unemployment rate of the 1970s, the 1980s, and the 1990s.

President Bush signed into law the No Child Left Behind Act, the most important Federal education reform in history, one that insists that testing, accountability, and high standards will accompany record new resources. Medicare has been modernized, prescription drug coverage has been added, and Americans now have the opportunity to use Health Savings Accounts, tax-free accounts designed to help individuals save for health expenses. Faith-based groups are receiving unprecedented support and encouragement. And President Bush signed into law the most far-reaching reform of American business practices since the time of Franklin Roosevelt.

To ensure the safety of our citizens, President Bush has implemented the most sweeping changes in the organization of our national security institutions since World War II. With the creation of the Department of Homeland Security, America has seen the most extensive reorganization of the Federal government since President Truman. President Bush has proposed the most thoroughgoing reorganization of the intelligence community in more than a half century. And thanks to the USA PATRIOT Act, Federal law enforcement agencies can better share information, track terrorists, and protect American lives.

President Bush has strongly advocated open markets for American goods; affordable, reliable, and secure energy supplies; and environmental standards that are making America’s water and air cleaner. In the social realm, he has championed a culture of life and a new culture of responsibility; the strengthening and defense of marriage; judges who strictly and faithfully interpret the law; and stronger work requirements for welfare recipients. He has made civility a touchstone of his rhetoric. He has put together an Administration comprising enormously talented men and women – and one with more diversity in senior positions than any in history.

These achievements are anchored in a set of core beliefs: America is a defender and promoter of freedom – and the advance of freedom brings peace. We must lead the world with strength and confidence. Religion should not be banned from the public square. Government should encourage ownership and opportunity, compassion and responsibility. The proper role of government is to create the environment in which small business owners and entrepreneurs will take risks and invest, hire workers and spark economic growth.

The last four years have been a time of extraordinary challenges. They include the horrific terrorist attack on the American homeland; global wars; an economy that was sliding toward recession when President Bush took office; and the revelation of corporate scandals long in the making that undermined investor confidence.

Such times demand a leader of clear convictions and determination, hope and vision, integrity and the courage to act. These qualities are the hallmarks of the Bush Presidency. There is much that remains to be done – yet as this document illustrates, an enormous amount has already been accomplished. President George W. Bush put forward a historically ambitious agenda and restored dignity to the office he holds. He has provided steady leadership in the face of unprecedented challenges. The United States is safer and stronger, more resilient and better for his efforts.
~CONTENT~Home

Introduction
Chapter 1

Waging and Winning the War on Terror
Chapter 2

Strengthening our Military, Supporting Our Veterans
Chapter 3

Promoting Peace and Democracy - and Acts of Mercy
Chapter 4

Protecting the Homeland
Chapter 5

Economic Growth and Job Creation
Chapter 6

Opening Markets
Chapter 7

Expanding Homeownership
Chapter 8

Energy Security
Chapter 9

Corporate Accountability Reform
Chapter 10

Immigration Reform
Chapter 11

Reforming and Modernizing Health Care
Chapter 12

Improving American Education
Chapter 13

A More Compassionate America
Chapter 14

Protecting Children, Strengthening Families
Chapter 15

Promoting a Culture of Life
Chapter 16

Fighting Crime
Chapter 17

Strengthening the Judiciary
Chapter 18

Conserving and Protecting the Environment
Chapter 19

The Condition of America
~DOCUMENTS~August 2004

PDF File: Record of Achievement "

[RaceBookJoe]

A single day's response after pouring billions down the drain to bail out incompetence is not going to make a long term difference.

It was important enough to you yesterday to post the negative news though. I'm sure if you surf long enough, you will find a fix for your "LA", to spin something negative about todays action. rbj

[PaceAdvantage]

Could we retest the 2002 lows? Sure, anything is possible. But there's also a decent chance that where we are now will turn out to be a pretty good support level, as it seems we're "getting rid" of all the dead wood at once out there on Wall Street, and the election is right around the corner.OK...you can all mail me my cut of your profits ASAP....

Up 400+ points after I posted this, plus, as I type this right now, the market is up about another +120 or so points in the overnight session....

You're welcome.

[Tom]

PA, theses libs will do anything to lose. I've never seen anything like it. Surrender monkeys.....not a stone among the lot of them. Market down, we are going to die. Market up, we are going to die.

I'm looking to add Chase to my portfolio later this month. :rolleyes::lol:

[Tom]

Nice plagerized post, robert - covered most everything.....except the real truth of what happened.

[PaceAdvantage]

PA-

Its true oil is down over 35%. Unfortunately, gas is barely down. Gas here in Chicago was $4.25 when oil peaked at $147/barrel. I paid $4.19 earlier this week. As for the world ending, the rest of the world seems to be following our lead into recession.Odd....gas here was pushing $4.50-$4.60 during the peak, and was down to about $3.69 last week....not quite in line with oil, but down quite a bit....and this is within 30 miles of NEW YORK CITY, not some out of the way place with low prices...

I find it hard to believe you are paying $4.19 for regular....where is this?

[JustRalph]

3 days ago in Charlotte Gas was all over the board.

4.20 at the BP Stations and as low as 3.89 in other places.


I paid 3.89 today at the BJ's Station

[Tom]

$3.63 yesterday.

[ddog]

Oh shit, you mean it's up to $97? Better start hoarding....

Pa,

Do you have or care to offer any opinion on why it would spike right there?

Else , who cares.

Mine is it is not oil supply that changed radically overnight but that market looked like the place to hide??


Also, all "those who come on here" measuring the health of the country and/or the economy by the equity markets are either clueless or complete greed-headed whack jobs.

if you think that a market that only retraced 50% WITH all the fed/treasury help along the way is a heathy market that would reflect solid fundamentals then i guess we are on different planets for sure. :sleeping:


If you are counting your gains or patting yourself onthe back for the Schummer/Pelosi bounce then more power to you.
Myself, I fear the gvt will end up and maybe already has placed a major crash in the near future.

This can now be the end of many more worlds than before.

Once more I will say, the gvt can't and shouldn't be in this deal.

You and the other "free marketeers" can run with it, but they will wipe you out.

As I said on another post , the pols and the body politic in this country can't operate outside of a welfare state anymore.

So if this bail/backstop of everything financial gets put in place , then what's to stop that from applying to everything?

Bad bad, there was no chance of the end, now yeah, if we are not lucky , it's locked and loaded.

Oh and riddle me this Robin, if shorting the 1000 financials on the list is out of the question now, then how would you feel to not be on that list?
What gives with all that???


up up and away!!!!
You ain't in Kansas or America or even Amerika anymore.

It looks like ZimbAmerika now.

[PaceAdvantage]

Hey ddog, I agree with much of what you write in your last reply.

All I was doing was responding to those who came on here after a big drop and stated something to the effect that "the end was near" and "more shorting is the way."

I countered with my little T/A, which turned out to be pretty dead-on. How much have we gone up since I posted that shorting will probably cost you money right now?

No better time to try and prop up the markets than when it's sitting at a technical level.

Please bear in mind that I never stated that the bear market is dead, or that a major down move ISN'T on the horizon. Please don't interpret my recent posts as someone who is advocating a buy and hold strategy right now. Far from it....

I agree the gov't should not be in on this deal, and it upsets me greatly that the SEC has placed 799+ companies on the no-short list. I find that disgusting, actually. Market manipulation at its finest, and by government no less, the same agency that is supposed to PREVENT market manipulation!!!

If the SEC had been doing its job in the first place, ELIMINATING all of this NAKED short selling, we might not be in the position where banning short selling is an attractive option for the powers that be.

[Valuist]

Odd....gas here was pushing $4.50-$4.60 during the peak, and was down to about $3.69 last week....not quite in line with oil, but down quite a bit....and this is within 30 miles of NEW YORK CITY, not some out of the way place with low prices...

I find it hard to believe you are paying $4.19 for regular....where is this?

The $4.19/gallon was in Lake County, about 20 miles north of Chicago. And its usually more expensive in Cook County (Chicago). I think the cheapest pre-hurricane I saw was $3.95.

[Valuist]

Hey ddog, I agree with much of what you write in your last reply.

All I was doing was responding to those who came on here after a big drop and stated something to the effect that "the end was near" and "more shorting is the way."

I countered with my little T/A, which turned out to be pretty dead-on. How much have we gone up since I posted that shorting will probably cost you money right now?

No better time to try and prop up the markets than when it's sitting at a technical level.

Please bear in mind that I never stated that the bear market is dead, or that a major down move ISN'T on the horizon. Please don't interpret my recent posts as someone who is advocating a buy and hold strategy right now. Far from it....

I agree the gov't should not be in on this deal, and it upsets me greatly that the SEC has placed 799+ companies on the no-short list. I find that disgusting, actually. Market manipulation at its finest, and by government no less, the same agency that is supposed to PREVENT market manipulation!!!

If the SEC had been doing its job in the first place, ELIMINATING all of this NAKED short selling, we might not be in the position where banning short selling is an attractive option for the powers that be.

What will be interesting is the market on October 3, as long as the short selling ban is lifted. MS, GS, STT and NTRS are going to be targeted heavily, certainly judging by their activity Thursday morning. But now they've all gone up considerably and offer tremendous entry points for a short position. And like you said, if Cox and the SEC had come up with a more permanent solution, we wouldn't be facing this. But if that's the market we're given, we might as well profit from it.

[lamboguy]

i paid $1.50 for gas today. the price at the pump was $3.59. my wife spent $1000 at the supermarket last month and they give you .10 off per gallon for every $50 you spend. we both pulled up to the pump, filled her car up and without restarting the pump, put gas in my car. we bought about 30 gallons between us, so we saved about $45. i don't use my car that much, so a fillup lasts over 3 weeks for me. they taught me to walk and run more!

[Valuist]

Wow. $3.59 at the pump seems like a dream. Some of us are still at $4.19.