OK folks, while the medial screams about the stock market crash and blood in the streets please take a note of these numbers:
Drop 777 points, or 7% down
Back in 1987 we had a 22% drop in one day. . . . and the economy lived, moved on and grew. . . .
Folks, we will get through this no problem. We need to calm down, not let them panic us into giving away our future to Wall Street to bail out a few bad apples. If we give in then we will be giving BILLIONS of dollars to the same folks that ran things into the ground in the first place.
It is time to stop the madness and take a count of who caused this both in government (hello Barny Frank and the Democrats back to Clinton) and on Wall Street and tell them Tough Luck guys, you are out of a job!
Look at the vote – a bunch of Democrats didn’t even vote for it (since it did not have enough pork for them) and a bunch of Republicans didn’t vote for it (since they had calls coming in against the vote at 10 to 1). . . ..
People don’t want this bail out. People are getting sick of Big Government taking our money and giving it to folks who did not earn or deserve it. People don’t want to pay off mortgages for folks that overextended themselves when they have there own families to support and mortgages to pay.
Best thing I heard yesterday was a person noting that we had a similar fall in the market after 9/11 and the stock market had recovered in about 8 months. . . Yes it hurt, but we got through it. The basic market is sound, and we will get through this too.
Remember, the easy way to tell if a politician is lying is to look and see if his lips are moving. . .
People want change, they may not know it but what they want is smaller government, less bail outs, and less government in our lives. This could be the first step to taking out country back from big government if we just have the stomach from it. . . .
Update - FYI
12.8%: Drop in the Dow Jones Industrial Average (DJIA) on Black Tuesday (Oct. 29, 1929)
22.6%: Largest one-day percentage drop in stock market history (Black Monday, Oct. 19, 1987)