Deadman's picture

    Short post on short selling and a short-term bottom ...

    I think we're about to get a much-needed reminder that stock markets don't always go down.

    Could happen today, could happen tomorrow, and it may or may not happen after one last big selloff, but we're going to get a relief rally very soon. I don't expect it to last long, but I do expect it to be rather violent and dramatic. Maybe we get back close to 11,000 on the Dow.

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    DF's picture

    Debate live-blog

    6:15 PDT: Late start.  I'm not sure what Brokaw's question about who would be Treasury Secretary was in aid of.  On the "How is the bailout supposed to work?" question, Obama seems to be giving a competent explanation of the potential danger of the credit crisis.

    6:18 PDT: Did John McCain just say that he's going to fix the economy by ending the culture of lobbying and cronyism in Washington?  Why should anyone believe that when he can't do it within his own campaign?  Also, earmarks!

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    DF's picture

    Hello, world!

    Greetings, fellow travelers!  Thanks to the Dag guys for giving me the opportunity to do some guest blogging at dagblog.com.

    For my first post here, I wanted to offer a quick thought.

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    Michael Wolraich's picture

    McCain Accuses Economy of Bias

    The Republican presidential hopeful John McCain let his frustration with the US economy boil over today. When asked in an interview about the challenges his campaign faces, McCain responded, "Look, it's no secret that the economy favors my opponent." Asked to elaborate, he replied, "This country is in crisis. Now is not the time to point fingers. But everybody knows that the economy caused this crisis, and I think everybody knows why it's doing it."

    Deadman's picture

    Perspective on a Gray Monday ...

    So, the market is down 555 points, almost 5 percent. Yet so far this is no October Black Monday, like when the market dropped 13 percent on October 28th, 1929 or when it dropped 22% on October 19, 1987. (Note: Things are moving fast, market down another 100 points since I started writing).

    This is, in many ways, even worse - just another Gray Monday, where we get the continued, orderly drip-drip-drip of a market with no confidence, and no idea of where we are headed.

    Michael Wolraich's picture

    People who channel 16-year-olds think Palin won

    I spent the debate blogging as a 16-year-old, and I have to disagree with the assessment of a Biden win. The experience was, to be honest, very weird. Writing as SarahPalinGrrrrl in previous posts did not require me to get into her head. She and I maintained a respectful distance from one another. But during the live blogging, there was no time for that. I had to be SarahPalinGrrrrl. OMG. As a result, I listened to the debate the way a 16-year-old might have, or at least how I imagine that a 16-year-old might have.

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    Michael Wolraich's picture

    BREAKING: McCain pulls out of Michigan

    Politico: John McCain is pulling out of Michigan, according to two Republicans, a stunning move a month away from Election Day that indicates the difficulty Republicans are having in finding blue states to put in play.

     

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    Michael Wolraich's picture

    RSS Feed Back Online

    We just launched, and we're still working out kinks in the blog. The RSS feed on the main page was down, but it's back, baby. So get your DagBlog posts hot off the blog at http://dagblog.com/rss.

    Deadman's picture

    You're kidding, right? Right?!?

    So yesterday I wrote about how the Senate was making the bailout plan bigger but not better in order to get reluctant legislators aboard.

    Oh man, you have no idea. It makes me want to cry.

    According to the WSJ, A bill that was originally 3 pages is now more than 400 pages. Among the useless 'sweeteners' tacked onto the plan:

    SarahPalinGrrrrl's picture

    LIVE DEBATE BLOGGING!!!!! GOOOOOO SARAH!!!!

    OMG!!!! RU excited for sarah palin's debate? I SOOOO AM!!!! GOOOOO SARAH!!! she's going to kick that biden dude's WRINKLY OLD ASS!!! LOL!!! he totally looks like draco malfoy's evil dad in harry potter.

    Deadman's picture

    A better bailout ... or just a bigger, badder one??

    So now the Senate is going to try its hand at passing a bailout plan.

    Michael Wolraich's picture

    John McCain - Steady at the Helm in Turbulent Seas

    John McCain on the state of the economy

    1/10 McCain: I don't believe we're headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong.

    Huzzah, the fundamentals are strong!

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    Deadman's picture

    Holy *%$# ... Bailout defeated, market collapses

    OK, I was wrong. Really wrong. I was sure politicians would approve this bailout bill, no matter how publicly unpopular it was. The short-term risks of not doing something seemed too enormous - a complete freeze of the credit markets and the subsequent collapse of the economic system that relies so heavily on that free flow of credit.

    SarahPalinGrrrrl's picture

    I LOVE YOU, SARAH PALIN!

    sarah palin is a total INSPIRATION to me!! i am SOOOOOOOO EXCITED that she could be our next vice president, maybe even our PRESIDENT! Surprised for someone with her talent to be a vice president proves that anyone can make it in america. YAY SARAH!!!!!!!!! you go, GIRL!!!!!!

    Michael Wolraich's picture

    Name This Blogger

    Hey folks. I think that I need a new handle to maintain parity with the other "men" at this site, and I'm taking suggestions. It doesn't have to start with G, but it would be nice to maintain some connection to the name of the blog

    Current candidates:

    • G-man
    • Grooveyman
    • Unman
    • Gingerbreadman
    • Gingerman

    Unman is my fav, but it doesn't start with G. After that I like Gingerman for the gingerbread and literary references. I would probably use this image as my avatar:

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    Michael Wolraich's picture

    It's the Economy Stupids

    This post is not about the horse race or who "won" the debate. This post is about the greatest problem facing America today, a greater problem than we have faced in many years. This post is about the economy. I'm sorry to say that neither of the candidates took the opportunity to address it in a serious manner.

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    Michael Wolraich's picture

    Lead!

    We are facing the worst economic crisis since the 1980's. WaMu just set a record as the "Largest U.S. Bank Failure Ever." (Mazel-tov, WaMu.) Investment titans are on the knees, the ones that haven't gone under or been torn apart. Debt is at a historic high. Credit is tight. People are losing their houses and their jobs. Everyone is angry. Everyone is afraid.

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    Michael Wolraich's picture

    Premature Mid-life Crisis

    I wrote this piece some years ago, before I was 30. I'm now probably in what could be called an on-schedule midlife crisis, but this article still seems relevant. I've updated it slightly to make it current with the times...

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