Bailout fails! Dow plummets!

Congress has finally done something right!

Dow closes down 777 points, or 7%. Biggest point drop in history.
Nasdaq closes down 199 points, or 9%
S&P 500 closes down 106 points at almost 9%, and fell as much as 15% in after hours trading.

Things look really ugly right now, but this is the medicine that the economy needs. The process of de-leveraging always hurts, but it is necessary to bring the economy back to a point where people do not have to struggle to get by. Banks are leveraged as high as 40:1, basically meaning they owe 40 times more money than they have assets. This has allowed the price of assets to far exceed their real values, and is long overdue for a correction.

http://www.stormfront.org/forum/showthread.php/bailout-fails-dow-plummets-527201.html

>>9
No.  Your definition of "fair" is dependent upon the overblown P/E of an inflationary and destructive stock market, hence that I said was utterly correct:  These companies are not being devalued.  They are RETURNING to sane valuation.

I love how you claim to be "investing" (i.e. gambling, since all public stock buys are gambles) in companies that are "somewhat independent of the rest of the economy".  If they were that independent, then why is there a stock-price issue?

I also love how you believe that "their services are going to remain in demand even if we are all poor".  Poor people can't afford to buy stuff.  Only OVEREXTENSION OF CREDIT allows them to do so ... and we're at the end of that era.

You're as delusional as the average poaster on a Yahoo stock message board.  You basically believe in the economic equivalent of unicorns and faeries.  The only reason that has worked was that we i na huge asset-speculation bubble that raised up all asset classes and was greatly supported by the policies of banks, the government, and personal consumer actions.  ALL THAT'S OVER, PAL.