The FDIC says that while INDYMAC has failed and will cost the tax payer billions and the depositors more billions, all the other banks are safe. If that was true, they wouldn't bother to say it. The SEC blames speculators for the bubble economies and the collapse of American corporate equities. Wall Street was founded and been run ever since by speculators, men who have no other profession than market manipulation and fleecing the rubes. There have been speculators ever since the first neolithic traders met with farmers at a commercial nexus to trade agricultural products for salt, trinkets, intoxicants and pussy. Hank Paulson says the economy will be recovered several months from now. He said the same thing several months ago. George Bush says there is no inflation. He says that the decrease in housing prices coupled with demand destruction caused by cooling World economies will cause deflation, requiring a continuation of policies keeping interest rates low and the money supply growing. He says this even though he maintains that World economies are not cooling and the real estate crisis is not serious. What do you expect? He is a retard.
The stock market had a little bounce last week. It wasn't much of a bounce but you take what you can get. You won't see valuations this high again until the dollar is worth a whole lot less. Take it as a gift and sell your stocks. You figure out what to do with the proceeds.
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