Where to begin?

How about:

1. At 5:30 today, CNBC reported another $30~$35B package for Freddie Mac was needed.
2. UK launches second bank rescue – I wonder how many will really be required.
3. Supper Bowl ads fall to $3million/30sec – sign me up.  GM and FedEx will be absent however.  Apparently not cheap enough.

Do you think that the “economy” will do what it needs to do in order to fix itself?  And that all of the money we are throwing at it is just a delaying tactic.  We are “circling the drain” and all these magic $s are not going to plug the drain permanently.

Sigh.

So we believe the finanancial SNAFU is over or near over do we?  Don’t be so sure.  I understand that in addition to the subprime SNAFU, there are two more creative financing schemes that will be kicking in  during the next 3 years when their reset rates adjust:  these are the Option Arms, and the Alt-As.  Low rates to begin with (~1% – designed to put anyone into a house that could not qualify otherwise) but then they adjust, and how.   For example an $800 mortgage could jump to $1500.   Should trigger another round of foreclosures and walk-a-ways.   I wonder how much these will cost in “bailout buck$”?  If the government buys ink now they might be able to save on the printing.

In discussions with others I have stated that you cannot ask more of your government, financial institutions, corporations, etc. then you ask of yourself.   And it looks like a lot of people did not ask too much of themselves.

American corporations are on the brink of failure, i.e., the big 3 auto manufacturers, banks are holding bad paper on mortgages American individuals knowingly accepted, states are now on the verge of collapse because they do not have the revenue to maintain infrastructure and every damn one of us wants a rebate.  There is not enough ink to cover this.  Lets get of this gravy train and start paying our way.   How??? Taxes.  There is no free ride and we need to understand this.

at 12:50 pm EST GE stock was: $14.57

at 16:38 EST GE stock was: $12.88

BUT Tootsie Roll was: $24.63

Please!!!!!! someone explain this to me.

pyhbyl&kyag – this has to do with adjusting your posture.

Just a few hours ago I saw the following on a stock ticker:

GE:  $16.05

Tootsie Roll:  $25.+

Who would have thought this possible.