tag:blogger.com,1999:blog-12566063.post8383698771805971267..comments2023-06-13T06:34:45.513-05:00Comments on ConchoInfo: Bailouts, Commons and Muntzing the EconomyJim Turnerhttp://www.blogger.com/profile/03413663900509725906noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-12566063.post-50521964522569565232008-10-08T22:10:00.000-05:002008-10-08T22:10:00.000-05:00Well, I called Monday wrong, we saw the Dow free-f...Well, I called Monday wrong, we saw the Dow free-fall by 800 points, then come back up 350 points in the last 90 minutes of trading. <BR/><BR/>An NPR program today had one person make the point that a particularly hard-hit industry was eateries, in hard times, one of the easiest things to give up is eating out. Another panelist, a many-letters-after-his name economist cackled, and the moderator Jim Ryanhttps://www.blogger.com/profile/14402843445132289648noreply@blogger.comtag:blogger.com,1999:blog-12566063.post-21073078331623757862008-10-06T08:38:00.000-05:002008-10-06T08:38:00.000-05:00Jim, Maybe the point here is that we all need to l...Jim, <BR/><BR/>Maybe the point here is that we all need to learn our lesson. Most Americans have become way too liberal in their usage of the short credit market you describe. Maybe in doing so they got too close to the fire zone... <BR/><BR/>Maybe we need to learn to use money more like our great grandparents did: don't spent what you don't have. Not so good for the JP Morgans of the world, allie devereauxhttps://www.blogger.com/profile/14802719628949694387noreply@blogger.comtag:blogger.com,1999:blog-12566063.post-38189912892735152222008-10-05T10:50:00.000-05:002008-10-05T10:50:00.000-05:00The day after the '29 market crash, while FDR ...The day after the '29 market crash, while FDR according to Joe Biden was searching for a TV to speak to America on, one thing that really did happen; J P Morgan, the Warren Buffet of that day, walked onto the trading floor. Once he had been recognized and the pits fell silent, Morgan loudly announced he was buying 100,000 shares of US Steel, at the time the bluest of blue chip stocks.<BR/><BRJim Ryanhttps://www.blogger.com/profile/14402843445132289648noreply@blogger.com