And a lot of SMART people were buying. LLOYDS gobbled up HBOS in the UK, and WACHOVIA will probably gobble up MORGAN as BOA gobbled up MERRILL.
And Warren Buffett is on a buying binge too.
WHY NOT, THE PRICES ARE CHEAP! About 50 cents on the dollar.
Morgan for instance had a good quarterly report - just before crashing 50%!
Fools buy into a market which is high and sell out of one crashing.
Ya gotta do it the other way to make money!
REMEMBER: In the movie IT'S A WONDERFUL LIFE, when there as a run on the banks -and Jimmy Stewart/George Bailey had to cancel his honeymoon with Donna Reed/Mary Bailey, he implored the depositors in THE BAILY BROS BUILDING AND LOAN not to withdraw their money by telling them this: "Don't you see, Potter is BUYING; he isn't selling!"
HERE - WATCH IT:
THINGS ARE NIT AS BAD AS THEY SEEM. SIT TIGHT. INVEST FOR THE LONG HAUL. KEEP THE FAITH.
AMERICA'S GROWING NOT SHRINKING! WE'RE THE FUTURE, NOT THE PAST!
Or - as McCain says:
I’m going to fight for my cause every day as your President. I’m going to fight to make sure every American has every reason to thank God, as I thank Him: that I’m an American, a proud citizen of the greatest country on earth, and with hard work, strong faith and a little courage, great things are always within our reach. Fight with me. Fight with me!VOTE ACCORDINGLY.
Fight for what’s right for our country!
Fight for the ideals and character of a free people!
Fight for our children’s future!
Fight for justice and opportunity for all!
Stand up to defend our country from its enemies!
Stand up for each other; for beautiful, blessed, bountiful America!
Stand up, stand up, stand up and fight! Nothing is inevitable here. We’re Americans, and we never give up. We never quit. We never hide from history. We make history.
2 comments:
McCain had it right the first time, that the American economy will be ok (fundamentals)...if we would improve our science industry and start our own large scale energy production and invest more in our national defense and airline industry....jobs will be everywhere.
Americans need to stop throwing away money on useless social programs that only babysit the problems people have....responsibility has to be expected....people should have to work volunteer jobs, community service or national road building projects if they receive welfare...no more free anything.
Yes the fools are the ones that sold everything, probably Liberals all of them, I believe that they only think with their feelings which seems to always be 'doom and gloom'....the stock market is a long term investment not a savings account at the local bank....the market going down is a good thing, that's the time to invest more money and buy up cheap stocks in good companies.
Liberals want to control your money and see what they do with their own money, they lose it all because they don't know how to control it. All knee jerk reactions to everything that happens.
Liberals are only positive about things if they can claim responsibility for something good, if it's something bad they run away and say "don't blame us"...Liberals are weak.
It's certainly a relief that the economy recovered. It'll still be an important issue in the elections, to be sure, and I expect that the Republicans will discuss it over the next month.
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