Did something happen with the Markets in the last few hours?

WTF?
I was at the gym an hour ago and the market was around 20 to 50 points up.
I get home and turn on CNBC, and the DOW is up 350 points !?!
Is this on speculation of a Resolution Trust Corp like solution?
Or is this just a fast moving bounce?
I don't get it.
I've scoured the financial updates and don't see shit.
The only thing CNBC is on about is "Paulson talking about RTC like solution."
Thats awfully speculatory news to create a 300+ point rally out of nowhere.
Anyone got REAL news?
I was at the gym an hour ago and the market was around 20 to 50 points up.
I get home and turn on CNBC, and the DOW is up 350 points !?!
Is this on speculation of a Resolution Trust Corp like solution?
Or is this just a fast moving bounce?
I don't get it.
I've scoured the financial updates and don't see shit.
The only thing CNBC is on about is "Paulson talking about RTC like solution."
Thats awfully speculatory news to create a 300+ point rally out of nowhere.
Anyone got REAL news?
If I was to smile and I held out my hand
If I opened it now would you not understand?
If I opened it now would you not understand?
Post edited by Unknown User on
0
Comments
I guess it IS just speculation of an RTC-esque solution.
YAY. More bailout.
Woo hoo.
:cool:
If I opened it now would you not understand?
It was trending up when I checked it this morning but not that much.
Resurrect the Resolution Trust Corp.
My biggest worry with this is that the amount of money needed to purchase all this toxic shit off the market could put an unbearable strain on treasuries.
Shit, treasuries are ALREADY down on the mere speculation of the printing presses turning on full bore ...
As the reality of massive inflation kicks in, the treasury market (the ONLY market that REALLY matters) could unwind in a bad bad way ... and it will NOT matter if wall street is saved, or if credit flow is "restored".
We would be looking at a catastrophic global collapse, as countries like Russia and China dump their US treasury bills in a mad dash to get out before they lose everything (would YOU want to be holding on to an investment that is paying 1-3% in a world where inflation is running at 10-20% !?! You'd be LOSING 10-17% a year!) ...
the foreign treasury sales would very likely twist the hand of The Fed itself to sell ITS treasuries (instead of buying them up) ... well, sell what little treasuries they have left on their books (they are down already from around a trillion in treasuries, to about 300 billion) ...
it could be even worse than simply letting these institutions fail.
The government REALLY can't afford to go all out with the money printing (counterfeiting) game right now!
Yikes.
If I opened it now would you not understand?