Go, Economy!

[burgundy]

we've been down under 7900, where have you been?

this floor looks solid, this is the third time in three separate weeks it's holding

[MarsKitten]

we've been down under 7900, where have you been?

this floor looks solid, this is the third time in three separate weeks it's holding

In and out of the doctors office and class. Also hey, called it! But we're still reacting to the foreign market crashes. Shows there is still alot of panic left. I think we'll be going as far down as 7500 in the next month or so when we see some of the manufacturing stock markets take hits in places like east asia, mexico, eastern europe which will cause ours to take a hit as well

[burgundy]

there was no panic today. foreign markets are being retarded and we are relatively calm. loss =/= panic.

i mean, we've touched the 7800s already, so what you're saying isn't that apocalyptic.

hedge funds are sitting on mountains of cash they're holding for redemptions on 11/15. i think once money starts coming back in it will start pouring back in.

i think we will finish the year over dow 10000.

[kingoffighters]

I am calling 12000 by 2015.

[MarsKitten]

there was no panic today. foreign markets are being retarded and we are relatively calm. loss =/= panic.

i mean, we've touched the 7800s already, so what you're saying isn't that apocalyptic.

hedge funds are sitting on mountains of cash they're holding for redemptions on 11/15. i think once money starts coming back in it will start pouring back in.

i think we will finish the year over dow 10000.

I think we're still headed down slowly and will finish the year around 7000-7500.

[Brisco Bold]

This is more applicable here.

[Gooch]

I'm long the Japanese Yen. An easy way to do this is FXY. The continued unwinding of the Yen carry trade is the next bubble to burst as it has been punctured by the shrapnel of this economic crisis. There is/was around $6 trillion to unwind.

[Doc Holliday]

It was a Rocky day on the Wall.

[Advocate]

Like I posted in the Car thread.

Here.

General Motors is seeking upwards of $5 billion to assist funding a so-called merger between the Detroit automaker and Cerberus Capital Management’s Chrysler LLC. GM’s chairman, Rick Wagoner, was in Washington, D.C., late last week to discuss his company’s desire for quick federal funding with representatives of the U.S. Treasury Department.

Though GM representatives have been mum on the deal, an anonymous government employee quoted in the Detroit News confirmed that GM was seeking “around $5 billion.” Other reports have said the figure is as high as $10 billion.

GM says it needs federal help to cover the $10 billion in Chrysler debt it would inherit. The Chrysler debt would have to be refinanced.

It’s unclear just where the $5 billion or more would come from, but some analysts say that GM wants to pull some of the cash out of the $25 billion loan from the U.S. Energy Department. That loan was to be used for retooling factories and developing more efficient vehicles in the future.

Two other possibilities involving the U.S. Treasury Department are circling the rumor mill. One is that the $5 billion would come directly from the Treasury - just as the $700 billion bank bailout came from the Treasury.

The other scenario, which would have seemed far-fetched just a year ago, is that the Treasury would actually acquire a stake in GM - in exchange for $5 billion.

In the latest development of The Incomprehensible Union, General Motors is reportedly asking the U.S. government for $10 billion -- on top of the $25 billion loan approved recently -- to help it merge with Chrysler. The supplemental infusion would give the government, i.e. you and me, a stake in the merged company in the form of preferred stock, would see the government taking over pension obligations and provide a credit line for operations.

The government is weighing the request since it's likely that no federal official wants to be on the watch that saw the instantaneous vaporizing of two American icons and hundreds of thousands of jobs. The government has asked that as many jobs as possible be spared, and GM said "Sure!" Yet for a merger where cost savings and redundancy elimination have been the headlines, we don't know why anyone believes GM-Chrysler wouldn't jettison a whole bunch of the 11 brands, 10,000 dealers, and 100,000 union jobs. And that's just for starters.

Which is one of the (many) reasons we still don't understand the GM-Chrysler union. The additional $10 billion we can swallow -- after all, the government spends much more than that on projects that could be considered far more dubious than trying to save an astronomical number of jobs and businesses. And we know what Cerberus gets from the deal. We'd like to find out what the GM guys see that makes this merger attractive... other than the fact that Chrysler has $11 billion in cash.

[Bojack]

Funny thing is is that better health care and retirement systems in the US would have prevented tons of the current Detroit ass ache.

So would have NOT rolling out the red carpet for teh fhurenurs to set up shop in America. They should have been allowed to make factories here but should not have had state gubments suck their dicks while it happened.

But that's all in the past now. America will learn when we need tanks for one of our frequent wars and Toyota won't build them for us.