GREENSPAN THUMBS HIS NOSE
STOCKS SINK
The Ponzi Scheme that is called the Nasdaq
Is an Organized Operation of the Intelligence Community
BOTH FACTIONS!
Robert Reich, on FOX NEWS, just said that Alan Greenspan thumbed his nose at Wall Street! Greenspan is telling Wall Street that the FED will not bail them out -- they have to stand on their own two feet.
Reich says the key is consumer confidence, which is very fragile right now. A lot of consumers have 401K accounts. They have seen their investments decline -- the loss of wealth effect. If the unemployment rate starts edging up -- then consumer confidence will plummet very fast.
I believe the country is on the precipice of a GREAT DEPRESSION, and I believe that the PONZI scheme that was called the NASDAQ is to blame.
If the people of the United States had men and women representing them in Congress instead of spineless jellyfish, there would be an all out investigation of the stock market and all the market fund managers.
The first thing I would check is their covert ties with intelligence agencies. MARK MY WORDS -- this NASDAQ PONZI SCHEME will eventually be laid at the door of the CIA.
The American people have been scammed once again. Maybe every 15 or so years, another generation needs to be taught a lesson in humility. The MBAs that got caught up in the stock frenzy of the 80s must be laughing their heads off right now as they see their dot.com clones losing their shirts and having to pack the U-Haul trailors and head home!
Also remember the poor retired people that Charles Keating and Michael Milken fleeced out of their retirement savings with the junk bonds. The 401K funds that were invested in dot.com stocks are the junk bonds of the late 90s and the turn of the century!
LISTEN AND LISTEN HARD!
The same people that were behind the junk bonds and the wild market of the 80s are the ones that are behind the current melt down -- it is phase 3 or 4 of the bankrupting of America! Wake up!
There is NO ONE in Congress brave enough to investigate this. The only thing Americans can do is desert both main parties -- en masse -- and form ONE NEW PARTY for 2002. Vote in good citizens! If there is a least one third OF US in Congress, there will be a chance that the little people can regain their sovereignty.
Winter -- IN DISCONTENT!
http://dailynews.yahoo.com/h/nm/20010320/bs/markets_stocks_dc_1859.html
Tuesday March 20 4:20 PM ET
Stocks Resume Freefall As Fed Disappoints
NEW YORK (Reuters) - Stocks fell sharply on Tuesday, pushing the Dow Jones Industrial Average to a two-year low after the Federal Reserve (news - web sites) cut interest rates by one-half a percentage point, the low end of expectations, and warned of weakness in the U.S. economy.
Stock indexes serpentined immediately after the announcement at about 2:15 p.m., heading lower, then higher before deep and wide selloff took over.
It is the third 50 basis-point cut by the Fed this year, as the central bank attempts to head off a recession with lower rates, which decrease the borrowing costs of businesses and consumers.
The Dow finished with a 238.35-point loss, or 2.39 percent, to close at 9,720.76, a two-year low, according to the latest data, while the Nasdaq composite index dropped 93.77 points, or 4.8 percent, to 1,857.41.
It was the lowest close for the Dow since March 24, 1999, and the Nasdaq closed at a low unseen since Nov. 13 1998.
The Standard & Poor's 500 index fell 28.19 points, or 2.41 percent, to 1,142.62, the lowest finish since Dec. 14, 1998.
The central bank slashed its key federal funds rate, charged for overnight lending between banks, by 50-basis points to 5.00 percent from 5.50 percent. Wall Street had been hoping the central bank would cut rates by as much as 75 basis points.
