Money money money

No rate hike at Fed meeting. But of course being that the Fed is controlled by bankers why should they raise rates? Cheap money continues to flow to the gamblers on Wall street while the rest of us suffer. But this game of musical chairs can only go on for long. Eventually the band must be paid. Think about it for a sec. Investors took out loans to buy stocks in companies that weren't making much money. Their values were based purely on perception. Customers are slowly drying up and the housing market in China has hit a bubble. Their government has done just about everything it can to prop up the markets while their banks have faltered and the yuan is nose diving. And people wonder why.

Fear not they can always buy insurance to cover their losses unless of course there's not enough in the coffers to cover the losses as before. Lloyds of London went bankrupt the last time round. They're the ones who will insure anything and it took a UK bailout to get them going again. Somebody's going to get stuck with a lot of bad paper yet again. And those big "too big to fail" banks have gotten bigger so the fall will be greater.

Last time around the markets hit a little over 14,000 before dumping 7000 points. To date the markets hit a high of around 18300 and have lost nearly 2000. I don't see people rushing out to buy big ticket items. They say consumers run the economy and it doesn't look like we're buying much from China even though just about  everything is made there. Always look for the made in USA label.

Oh Canada looks like you're in recession already. Maybe if Harper hadn't put all his tar balls in one basket things might have been better. Tariffs aren't helping and by the looks of it Stevey would trade his grandmother for some cheap Chinese trinkets. And he has a masters in economics? Must be an honorary degree. Where's that cheap gas they promised. Nova Scotia I hear ran out of gas. How'd that happen the world is swimming in oil? Maybe that what happens when you put bean counters in charge.

Bank fails later...