will this story trump politics tommorrow

[Tribetime]

JP morgan buys out Bear Stearns for 2$ a share with the federal reserve kicking in 30 billion of our tax money to bail them out so we wouldn't end up in a credit freeze. I've already had my home value go from 95,000 to 39,000 overnight since I'm in Cleveland and all the foreclosures.. not to mention my l.o.credit on my house was discontinued. Is this just the tip of the iceburg? Is that what the post earlier was about "it's over" I hope I'm wrong and the sky aint falling but as the next few months go on the economy might be far and away everyones biggest fear. www.msnbc.msn.com/id/23662433

[slinkerwink]

1. we need leaders, not fighters, at this critical moment.

Tomorrow, Hillary is giving her Iraq war major policy speech at GWU, and Obama is having a town hall meeting in Pennsylvania at 9:30 am. I hope both of them step up to address this economic crisis.

[SoCalDem]

2. l.o.credit... What's this?

Cannot figure it out :)

[Speck Tater]

3. Line-Of-Credit. NT

[Tribetime]

4. line of ??? seriously

On GD they're taking over / unders of 500 drop in stock market tommorrow

[better tomorrow]

5. my house went from....

285,000 to 160,000 during that same time. But, at least I'm still on the upside of my mortgage since it tripled in value over the last 16 years. I bought it for 85,000. Ah, Florida!

[Tribetime]

7. scares the hell out of you doesn't it

it could potentially spread into the suburbs and then it would really become the main issue in november.

[Yurovsky]

6. I would say we're already in a recession ...

and if Gramps wins in November, we could end up in a full-blown depression.

You can only give so much money to the rich before you end up completely destroying the middle class (and the US economy). It is time for the federal government to restore fairness, provide health care, and end the shipping of our jobs to overseas sweatshops (manned by enslaved children).

If Obama wins, he'll have a very tough clean-up job on his hands. If Hillary wins, I don't think you would see policies as dramatic as Obama might present. Just a hunch.

[Tribetime]

8. I'm worried we could be in a full blown depression before that

[Yurovsky]

13. The news from the financial markets certainly isn't very encouraging...

when these multi-billionaires start losing their collective asses, what chance do any of us have?

Even if it's not a depression, it sure as hell is depress-ing.

[CitizenLeft]

9. hello neighbor

I'm with you. Hang in there. :hug:

[Beregond2]

10. House

You can buy a house for 95K in OH? Here in WA, you'd be lucky to get a paper bag on a median strip for that!

[Kittycat]

11. You can get land in the xurbs of Chicago for that.

Roughly 1/4 acre.

[Tribetime]

12. try 39,000 it's really funny I can't stop laughing

reply to #11 sorry

[JoFerret]

14. Thank you. A dose of reality

Who can fix this mess?

[txaslftist]

15. No. People don't understand it.

Most people don't understand the market at all, which is one major reason we're teetering on the brink of a major economic depression. We're going to have to relearn the lessons our grandparents and great grandparents learned in the 30s. How to survive when the economy goes in the tank for an extended period.

This might be a valuable lesson for all of us.

But for now, people want their American Idol and race-driven politics. They won't start to care until the soup and bread lines get really long.

[txaslftist]

16. No. People don't understand it.

Most people don't understand the market at all, which is one major reason we're teetering on the brink of a major economic depression. We're going to have to relearn the lessons our grandparents and great grandparents learned in the 30s. How to survive when the economy goes in the tank for an extended period.

This might be a valuable lesson for all of us.

But for now, people want their American Idol and race-driven politics. They won't start to care until the soup and bread lines get really long.