Market News

[weatherweenie]

[BRIEFING.COM] S&P futures vs fair value: +32.90. Nasdaq futures vs fair value: +25.00. A sharply higher open is expected, although the gains still have a long way to go to make up yesterday's massive losses when the S&P 500 fell the most since Black Monday in 1987. The failure to pass the financial relief plan has prompted traders to increase bets that the Fed will cut rates. Fed funds futures suggest an 80% chance of a 50 basis point cut for the October 29 meeting, compared to no chance last week.

 

[weatherweenie]

[BRIEFING.COM] S&P futures vs fair value: +32.40. Nasdaq futures vs fair value: +27.80. Futures suggest a rally at the open, although S&P 500 futures are trading 12 points below highs reached at 5:52 AM ET. Home prices in 20 major metro areas fell 16.3% year-over-year in July, according to the S&P/CaseShiller Composite, which follows the 15.9% drop in June. Economists forecast a drop of 16.0%. Prices fell 0.9% month-over-month and are down 19.5% from the all-time high reached in July 2006. Separately, The fed funds rate is at 7%, which is well above the Fed's 2% target rate.

 

[fabijo]

I think people really need to start listening to this man:

http://www.govtrack.us/congress/bill.xpd?bill=h110-2755


Write him in. I am.

Introduced last year. For some reason, it's still in deliberation.

H.R. 2755: Federal Reserve Board Abolition Act

To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.

 

[Silverbird]

Uh oh....if you really want to get rid of the Fed Reserve, please read up on what happened after Andrew Jackson abolished the central federal bank and the resulting bank runs, currency crash, gold hoarding, and general economic mayhem during the administration of Martin Van Buren.

That was the last time we were without a central bank.

 

[James48843]

Uh oh....if you really want to get rid of the Fed Reserve, please read up on what happened after Andrew Jackson abolished the central federal bank and the resulting bank runs, currency crash, gold hoarding, and general economic mayhem during the administration of Martin Van Buren.

That was the last time we were without a central bank.

That's it.

We do away with the Federel Reserve.

Then we do away with gold, silver, paper money.

Starting tomorrow, the official currency of the United States will no longer be "Federal Reserve Notes".

It will be....kittens.

Everything will be priced in kittens.

A new car will be 21,000 kittens.

Lunch will be 5 kittens.

Tax on lunch will be one kitten.

(Of course- it will be a little more difficult to make change.)

 

[James48843]

The new monetary unit to replace "kittens", should you need to carry it with you, will be this-

"the Cat Coin".

​

This one is worth 2 cats.​

 

[fabijo]

please read up on what happened after Andrew Jackson abolished the central federal bank and the resulting bank runs, currency crash, gold hoarding, and general economic mayhem during the administration of Martin Van Buren.

From what I'm reading, it sounds similar to what's happening today. Banks enjoyed major prosperity because of a huge real estate boom, so credit was abundant. Once prices began to settle, then lower, the panic set in and deposits decreased dramatically. Banks went out of business and many banks were bought up by big banks. Andrew Jackson and Martin Van Buren refused government intervention to fix the problem. Before the panic, there were huge speculative price increases in just a few short years. Sounds a heck of a lot like today - and that's with a federal reserve, which is not a government entity, but a bunch of private banks.

 

[Silverbird]

Here, kitty kitty...ouch ouch ouch (*crunch* bird taste like chicken!)

 

[Frixxxx]

It will be....kittens.

Everything will be priced in kittens.

A new car will be 21,000 kittens.

Lunch will be 5 kittens.

Tax on lunch will be one kitten.

(Of course- it will be a little more difficult to make change.)

Um, no it won't, but you got to make a little cut...here ...and...and here. If you only need half a kitten, do you make change by 2 fore, 2 aft paws or is it 2 left, 2 right paws.....[picture NOT provided] :laugh:

 

[Silverbird]

ooh, my cats generate more kittens. :nuts: Is that profiteering?

 

[XL-entLady]

ooh, my cats generate more kittens. :nuts: Is that profiteering?

Next best thing to a money tree!

Lady

 

[Frixxxx]

Next best thing to a money tree!

Lady

FCXM
(Foreign Cat Xchange Market)
1 calico=2 Siamese
1 Siamese = 4 Persian
1 Persian = 1/3 Egyptian Mau
20% + value for females

 

[Birchtree]

What would a natural mink Tonkinese go for these days - I've been a buy and holder with my Mindylou now for two years and she could already be profitable. Cats are the best when they are trained and have a vocabulary.

 

[XL-entLady]

What would a natural mink Tonkinese go for these days - I've been a buy and holder with my Mindylou now for two years and she could already be profitable. Cats are the best when they are trained and have a vocabulary.

Money that purrs if you buy and hold it! What a very Birch idea! :laugh:

Lady

 

[Frixxxx]

What would a natural mink Tonkinese go for these days - I've been a buy and holder with my Mindylou now for two years and she could already be profitable. Cats are the best when they are trained and have a vocabulary.

Natural Mink Tonkinese have not been incorporated into the Exchange system. However, the platinum Tonkinese will have its' own trading platform in the commodities markets. However, you can go to any auction house and try your luck on the block. :laugh:

 

[James48843]

Of course, trying to carry them around in your purse or billfold could present a slight problems...

 

[Birchtree]

Pretty lady with ? Maine Coon cat.

 

[Frixxxx]

Pretty lady with ? Maine Coon cat.

More like an Alabama inbred kitty:nuts:

Do you think it meows or just roars?

 

[XL-entLady]

Do you think it meows or just roars?

I think it says, "Here, doggie, doggie, doggie....." :nuts:

Lady

 

[Rod]

So, the senate is going to vote on the "rescue" plan Wednesday night, 1 Oct.

If this thing passes, it's going to be a monster of a market rally come Thursday.