Even the usually optimistic Erin Burnett was frowning on Morning Joe today, saying it was really tough to find any silver lining to the economic news that developed over the weekend. Crude oil at record highs. The dollar at record lows. Gold at record highs. And, the biggest news of all, the B.S. Bailout.
Fasten your seatbelts, put your trays up, and put your chairs in the upright position
A year ago, Bear Stearns — up until fairly recently a leading investment, securities and brokerage firm — saw its stock trading for $170 a share. By the end of the calendar year, it was about $88 a share. As recently as four days ago, it was $57 a share. Yesterday, the entire company, in [...]
The financial mess that our country is in is heating up… big time. Hold on folks, it’s really going to be a rough ride: WHAT are the consequences of a world in which regulators rescue even the financial institutions whose recklessness and greed helped create the titanic credit mess we are in? Will the consequences be [...]
The Economy: Are You Scared Yet?
Gold at $1,000 an ounce. Oil at $110 a barrel. Record home foreclosures. Steeply rising inflation. Worrisome employment numbers. Personal bankruptcies surging again. Are you worried about the economy yet? Are you beginning to be very, very frightened? And if not, why not? Bad times follow good times, just as good times follow the bad. That’s a natural process. It’s what economists call [...]
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