ZNN is ALL OVER the economic troubles today, and all they are doing is SHOVELING BULLSHIT!!
Here they are, giggling in the studio about travel plans and bargains to Europe.
Umm, HELLOOOOOO!!!
People are lucky if they aren't being tossed out the home!!!!
And yet stink elites try to make it sound like they are like you!
Yup, how to make your dollar go farther!
This PROVES the economy is shitting, otherwise the SHIT MSM wouldn't be all over it and preparing you.
Yup, economy is now #1 issue -- and DISCONNECTED from WAR POLICY!!!!!
Then the stock girl comes on, and the bank bailout BY TAXPAYERS -- as briefly noted by the anchors -- is ALL GOOD!!!
Bear Stearns going under was O.K., because J.P. Morgan can buy it up cheap WHILE the FED via YOU, the taxpayer, BACKS UP the LOSSES they will assume!!
You are GETTING FUCKED BIG-TIME, 'murka!!!!!
Then Ali Velshi comes on and is grasping at straws.
Oil hit a new high earlier, but it's down.
Investors are just moving money around.
The dollar hit a record low today, but it's up a bit now.
Blah, blah, blah!!!
The dollar is setting a new low every day, and this economy is FREE-FALLING to DEPRESSION!!!
Meanwhile, this garbage came the way of the Boston Globe -- my last purchase for a while because I needed the NCAA tournament picks from the Globe guy.
He won a pool for me one year, so I always fill one out with his selections.
"Fed takes new steps to battle credit ills"
"by Associated Press | March 17, 2008
WASHINGTON - The Federal Reserve, in an extraordinarly rare weekend move, took bold action yesterday to provide cash to financially squeezed Wall Street investment houses, a fresh effort to prevent a spreading credit crisis from sinking the US economy.
And it isn't doing shit!
This thing is sinking and their ain't a damn thing printing more money and dropping rates will do!!!
The central bank approved a cut in its lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term loans. The new lending facility will be available to big Wall Street firms today.
Yeah, BANKS and Wall Street will be BAILED OUT by the FED -- but FUCK the AMERICAN PEOPLE!!!
"These steps will provide financial institutions with greater assurance of access to funds," Federal Reserve Chairman Ben Bernanke told reporters in a brief conference call last night.
The Fed acted just after JP Morgan Chase & Co. agreed to buy rival Bear Stearns Cos for $236.2 million. Just on Friday the Fed had raced to provide emergency financing to cash-strapped Bear Stearns through JP Morgan. Days earlier the Fed announced a set of other unconventional steps to thaw out a credit market in danger of freezing shut.
The new lending facility - described as a cousin to the Fed's emergency lending "discount window" for banks - is geared to give investment houses a source of short-term cash on a regular basis - if they need it.
And since they are cutting back on all loans that money will be going RIGHT into BANK COFFERS and STAYING THERE so they can absorb all those losses!!!!
And the FED will back it all up via YOU, Amerikan taxpayer.
How's it feel bailing out wealthy bankers and funding endless occupations and getting NOTHING in RETURN, huh?
It will be in place for at least six months and "may be extended as conditions warrant," the Fed said. The interest rate will be 3.25 percent and a range of collateral - including investment-grade mortgage backed securities - will be accepted to back the overnight loans.
Treasury Secretary Henry Paulson said he was pleased by yesterday's developments.
"Last Friday, I said that market participants are addressing challenges and I am pleased with recent developments. I appreciate the additional actions taken this evening by the Federal Reserve to enhance the stability, liquidity and orderliness of our markets," he said.
"We appreciate the actions taken by the Federal Reserve this evening," said White House press secretary Dana Perino. "Secretary Paulson and Chairman Bernanke are actively engaged in addressing issues affecting our financial markets. Secretary Paulson has kept the president briefed on recent developments."
Yup, they are on top of it!!
Bush is on it, so problems solved, right?
The "discount" rate cut disclosed yesterday covers only short-term loans that financial institutions get directly from the Federal Reserve. It doesn't apply to individual borrowers.
Translation: That means BANKS get the bailout NOT YOU, readers!
The Fed in recent days has taken extraordinary steps to help banks and Wall Street investment firms survive the stresses of the credit crisis.
Yeah, all these EXTRAORDINARY MEASURES!!!
And yet, nothing up, don't worry, be happy, no recession, huh?
The Fed last week said it would pour up to $200 billion into Wall Street banks and investment houses and allow them to put up risky home-loan packages as collateral. This maneuver was intended to bring needed relief in the market for mortgage securities.
And the $200 BILLION bailout did NOTHING to save Bear Stearns!
When does the Fed run out of dollars?
When the printing press breaks?
The Fed's action yesterday came just two days before the central bank's scheduled meeting tomorrow, where another big cut to a key interest rate that affects millions of people and businesses is expected to be ordered.
And the DOLLAR'S VALUE will PLUMMET some more which will make PRICES RISE again!!!!!!
"It seems as if Bernanke & Co. are pulling out all the stops to avoid a serious financial market meltdown," Richard Yamarone, an economist at Argus Research, said last night."
And it still ain't having an effect!
Great!!!!
And ICEBERG, straight ahead!!!
"JPMorgan buys ailing Bear Stearns"
NEW YORK - JPMorgan Chase said yesterday it will acquire rival Bear Stearns in a deal valued at $236.2 million - or $2 a share - a stunning collapse for one of the world's largest and most venerable investment banks.
And if you read the blogs, you will know this is STANDARD POLICY -- big businesses buying up places for pennies on the dollar in times of crisis!!!!
So ONCE AGAIN WEALTH BENEFITS -- even when the media impression is everyone getting hurt!
Pffffffffttttt!!!!
The last-minute buyout was aimed at averting a Bear Stearns bankruptcy and a spreading crisis of confidence in the global financial system.
The Federal Reserve and the US government swiftly approved the all-stock deal, showing the urgency of completing the deal before world markets opened....
And Asia still dropped when it opened!!!!
The Fed will provide special financing to JPMorgan Chase for the deal....
Translation: Tax $$$$!
The central bank has agreed to fund up to $30 billion of Bear Stearns' less liquid assets. Risky bets on securities tied to subprime mortgages - loans given to customers with poor credit history - crippled Bear Stearns, the nations' fifth-largest investment bank.
"This is going to go down in very historic terms," said Peter Dunay, chief investment strategist for New York-based Meridian Equity Partners. "This is about credit being overextended, and how bad it is for major financial institutions and for individuals. This is why we're probably heading into a recession."
We are already there, and this is going into DEPRESSION MODE!!!
Of course, this is just a blog and we can't be right about anything, right?
Not up against the LYING AmeriKan MSM!!!
A collapse of Bear Stearns could have created a further crisis of confidence in world financial markets amid a deepening credit crunch.
I think it already has anyway, no?
JPMorgan's acquisition of Bear Stearns represents roughly 1 percent of what the investment bank was worth just 16 days ago....
Wall Street analysts say the bid to rescue Bear Stearns was more than just saving one of the world's largest investments bank - it was a prop for the US economy and the global financial system. An outright collapse could cause huge losses for banks, hedge funds, and other investors to which Bear Stearns is connected."
Here they are DOWNPLAYING this crisis even as they are PLAYING UP the crisis!
And to have read the BLOGS and know that THEY CALLED THIS a LONG TIME AGO, well...
YOU CAN'T BELIEVE AmeriKa's Zionist-controlled MSM on ANYTHING ANYMORE!!!!!!!!
