It's going to be okay, but you might want to close your ears. When a tree falls, there is some noise, when it is falling slowly, the anticipation of noise could be worse than the final crash. The U. S. DOW moved soundly down yesterday, falling 411 points at the close of the session. Overseas markets follwed suit, with the Nikki and Hong Kong markets, worried about the global markets, getting worse and taking longer to turn around. The worries were not without cause, as Treasury Secretary Paulson, nervously drinking water continuously during his speech, explained to the audience, that things had gotten much worse in the economy, and the credit markets, and that the original plan, of buying up bad mortgages, was not going to work and they had to start over with a new plan. From what he reported, the Government is now going to purchase a stake in the banks and financial companies, with hopes of stimulating lending. The two-hundred and fifty billion dollar amount alloted to Paulson from the seven-hundred billion dollar package, is evidently not doing what they thought it would. This caused a lack of confidence in the public at large, as to whether anybody knows what the heck to do with this monster of a problem. Let's all hope that somebody gets a grip, before we cascade completely downhill.
Just saw this, the U. S. atock market has reportedly lost
over a trillion dollars in the past three days.
J. P. Morgan and Citi-Bank are starting to modify those loans in their portfolio's, that are headed for foreclosure, reducing interest rates and payments to try to keep some people, in their homes.
Fannie Mae and Freddie Mac are also modifying a large portion
of their FHA mortgages, to stay the foreclosures on the properties.
The Automobile Industry, in the U. S. is hearing some sounds of possible relief from Congress, as word is, that Representative Barney Frank, is set to write up a bill, by Tuesday of next week, allowing the industry to receive the twenty-five billion that it says it needs to survive. Secretary Paulson had said that the money should not come from the initial bailout funds, as the industry was not covered in the package. The industry gave notice that it had about one-hundred days before possibility of filing bankruptcy papers, as they have minimal daily operating capital. President-Elect Obama, reportedly, would like to appoint a Car Czar, to oversee the industry, at some time in the future.
Now here's a sad statement, American Express is reporting that they may need a cash infusion from the Government. May the rest of us please, put in our bid, for a little of the passing out of available funds. Jimmynies.
Governor Sarah Palin is in a "Girl Gone Wild" stage, having interviews with no less than Larry King, Matt Lauer, Wolf Blitzer, and Greta Van Sustern. She is into overdrive, explaining why she does not feel that she was the reason her ticket lost, and declaring her intent to help the Obama administration to go forward, while still saying, that if people want her to talk about the Bill Ayers situation, she certainly is willing. She would like to be a person who provides strategy for the energy policies in the future, for the Obama administration, as she has expertise in the Alaskan oil industry particulars. Sarah, don't call them, they will call you, if they need you, I'm sure. Can anybody spell overexposure. Please send her a text message. She is scheduled to give another press conference today, and a speech later, then it's on to the Republican Governor's Conference in Florida, where they will welcome her with open arms, not.
News bulletin: Governor Palin spoke, opening the session with the Governor Davis of Texas, at the Republican Conference in Flordia. Then she opened up the session for questions, she answered about three questions, and Governor Davis abruptly shut down the press session.
Two of the Governors speaking to the cameras in Flordia at their Conference, made these assessments, Governor Sanford, of South Carolina, stated that debt in the U. S., grew at a rate of three times GDP, and it is going to be brutal, unraveling this situation, in essence, Governor Tim Pawlenty, of Minnesota, said the Republican party, will need more than a comb-over, to right itself.
Time magazine's new issue, has a cover picture, depicting President-Elect Barack Obama, in the back seat of a convertible, as Franklin D. Roosevelt was pictured, in the past, with the same type of hat on, with the caption "The New, New Deal". Quite smart looking. May your skills be many, sir. we've got a rocky road ahead.
There was a fake N. Y. Times newspaper, issued by a group today, with the headline, "The Iraq War is Over", "Bush is Indicted for War Crimes", and other things, that the group would like to see happen in the future, the date of the paper was July 4, 2009.
Germany is reportedly in a technical recession.
Three Senate races have yet to be determined, in Minnesota, Republican Norm Coleman leads Democrat Al Franken, by 206 votes, A hand recount is scheduled. In Georgia Republican Saxby Chambliss, and Democrat Mark Bedich, will have a run-off election in December, and In Alaska, Republican Ted Stevens, of late, convicted felon, is behind by 800 votes, as they count the final votes. If Stevens wins the election, his collegues are set, it is reported to expel him from the Senate, setting the stage for a special election which could include, guess who, Governor Sarah Palin, who will "plow right through that door". John McCain, you unleashed a woman with an agenda on the country.
There is a "Save Lieberman" commmittee, headed by Senator Chris Dodd, along with several other Senators, fighting to allow Lieberman to keep his chairmanship. Senator Lieberman is trying to hold on to his Chairmanship of the Home Land Security committee, after helping John McCain, run against the Democrat candidate during the election.
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www.associatedcontent.com/article/1161966/lets talk about redistribution of income.html
Stand tall, even when you feel very short, in mental stature.
