Also see: Financial Crisis Fault of American Consumer
Of course, this is the same propagandist paper that claims a depression would be a good idea; being poor is your fault; Boston business benefits from financial failings; financial failures are a good thing; that these are the best of times; and that this bear market is just like any other.
Whatever, BG!
"As signs stay murky, fear itself takes charge; More wild swings on Wall Street" by Robert Weisman, Globe Staff | October 17, 2008
Stocks continued to bungee jump yesterday, and the story was the same: Strong emotions are driving the markets.
Behind the extraordinary volatility were investors letting fear get the better of them while waiting for the $700 billion government plan to rescue financial institutions to bear fruit. Yesterday, the Dow Jones industrial average took triple-digit swings in both directions before finishing up 401.35 points, or 4.68 percent, at 8,979.26.
For much of the past month, the markets have been driven by fear: first, fear the United States had no plan to rescue the banks, and then, after the decision to invest $250 billion in US banks, fear the cash injection wouldn't be enough to get credit flowing again.
Sigh. How many times I gotta link?
U.S. Banks Driving Credit Crunch ON PURPOSE!!
America Never Had a Chance
It recalls the first inaugural address of President Franklin D. Roosevelt, who said, "The only thing we have to fear is fear itself." That was in 1933, in the depth of the Great Depression.
Tell it to the TERROR-MONGERING GOVERNMENT, assholes!!!!!!
In a keynote address to Harvard Business School's Centennial Global Business Summit this week, Lawrence H. Summers, former US Treasury secretary and Harvard University president, described "a vortex of five vicious cycles" threatening the economy, some of which are already being seen.
One trend that has already occurred is falling stock prices, prompting investors to sell stock, pushing prices even lower. Another is bank portfolios losing value, leaving banks with less capital to lend, causing them to lose more value. Still another is slowing economic activity that weakens the financial system, constricting lending and further weakening the economy.
Most alarming is the prospect for a "Keynesian" cycle, named for the British economist John Maynard Keynes, in which less spending leads to job losses, leading in turn to lower incomes and still less spending; and a potential "panic" cycle, in which depositors rush to withdraw money from troubled banks, putting them in more trouble and causing more withdrawals.
"These five vicious cycles have created a situation unlike anything most of us have ever seen," Summers suggested. --more--"
Can you say DEPRESSION, American?
Too bad it is being done ON PURPOSE in furtherance of GLOBALIST GOALS!!!!
