RUBBER HAS MET THE ROAD!!!!!! IS DEMOCRACY UNDER SEIGE???

DEMS ADD INSULT TO INJURY…I am reading some details….,man are we screwed!

We break 1200 SPX down she goes…..what miracle here I do not know or see…….and instead of a SAVE we get ALL IN CRASH of which I have warned.

FIRST....we hit my target for SSO at $54 but because of weakness in the UYG I am on guard for reaction here, tomorrow, a break of 1200 COULD SEND market into HUGE tailspin to test already reaction LOWS....OR this is the move I suggested could take place to fill SSO gaP!?? (2X long SPX)

Emotion stil running high over uncertainty of this plan, there is NO way to know if this is what is needed to fix this mess.

What I FEAR is JAPANESE style DEFLATION (OIL GOLD reacting to US $$ drubbing and safe haven from PAPER!!) if assets rotten do NOT GET MARKED DOWN OR DEFAULT......

Here it is: I can only borrow snippets, go here for complete story
http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/financial_meltdown

WASHINGTON - Scrambling for a quick accord on the $700 billion bailout, the Bush administration and leading lawmakers have agreed to include mortgage aid and strong congressional oversight along with unprecedented help for failing financial institutions, a key lawmaker said Monday.

*Duratek comment.....we ALL Know how well things run when the GOV gets involved.

THE HEAD MUPPET CHIMES IN:
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said "a great deal of progress has already been made." And a government official with knowledge of the talks said the administration had agreed to create a plan to help prevent foreclosures on mortgages it acquires as part of the bailout — a key demand of Democratic lawmakers.

Under other additions the Democrats are asking to the administration package, according to a draft of the plan obtained by The Associated Press:
• Judges could rewrite mortgages to lower bankrupt homeowners' monthly payments.

Duratek Comment: IN 80's when japan real estate caused DEFLATION, the GOV PROPPED UP the banking system not allowing it to DEFAULT on the loans and the mess slogged on for 20 some years@!!! mkt was 40,000 IN 1980 NOT ITS 12,000 IN 2008 !!!! at least they had savings!

JUDGES "could rewrite mortgages"??? OMG!!!!!!!!!!!!!

• Companies that unloaded their bad assets on the government in the massive rescue would have to limit their executives' pay packages and agree to revoke any bonuses awarded based on bogus claims.

The proposal by Sen. Chris Dodd, D-Conn., the Banking Committee chairman, would give the government broad power to buy up virtually any kind of bad asset — including credit card debt or car loans — from any financial institution in the U.S. or abroad in order to stabilize markets.

Duratek Comment: WHAT PAY!!!!! NO PAY idiots how about firing them? but don't worry we have "judges" and "oversight"

GOV OWNS FANNIE 95% of all MORTGAGES now provided by GOV (socialism???) Fed Home Loan ETC ETC

GOV BUYING (OWNING) our creidt card debt? was that in ORIG $700B "GUESTIMATE???"

" from any US or company ABROAD??????" again (sorry for language !) are you F^%%&!! kidding me? Surely ex Wall Street Insider Paulson promises Overseas BANKS AND GOVERNMENTS WILL MATCH OUR ACTIONS........why should they if we will do it all LIKE POLICE WORLD?

GOV gets SHARES in companies they rescue? VIVA LA COMISAR???

ACtion expected by WED, so gosh the market could and will do ANYTHING...it is a BEAR and will rip newbies and oldies alike.

THE HOMES PEOPLE BOUGHT THEY COULDN'T AFFORD?????

The proposal that Dodd sent to Treasury Secretary Henry Paulson would let judges modify the mortgages of homeowners in bankruptcy to allow them to keep their homes.
It also would require that the government come up with "a systematic approach for preventing foreclosure" on the mortgages it acquires as part of the bailout. That would include the home loans held by Fannie Mae and Freddie Mac, the troubled mortgage giants now under the control of a government regulator.

FED TO THE WOLVES!!!! and are rewarded with OWNING THE COUNTRY?

The fast-moving negotiations between the administration and Congress unfolded a day after the government approved a request by investment houses Goldman Sachs and Morgan Stanley to change their status to bank holding companies.

That change will allow the two venerable institutions to set up commercial banks that will be able to take deposits, significantly bolstering the resources of both institutions. It will also grant them permanent access to emergency loans supplied by the Fed rather than the temporary loan status they have had since last March when the Fed moved to prop up investment banks following the forced sale of Bear Stearns.

I am F'ing speachless on that one....are you reading this those who lurk in the shadows....other than a few who leave comments...I hope I am reaching a MUCH larger audience....

CALL EMAIL YOUR CONGRESS PEOPLE
http://globaleconomicanalysis.blogspot.com/2008/09/phone-and-fax-numbers-for-all-us.html

Tell them you dont want to GET SOLD OUT!!!!

COAL MAY GO THRU THE ROOF

Everything is a trap.....markets moving so fast, IMHO the place to be until the dust settles (??)
is somewhere SAFE, consult your financial advisor if you are worried.

SURE the MARKET ALWAYS GOES UP................except when it goes down

http://www.thelongwaveanalyst.ca/flash_cycle.html LASTLY THE BEST site I have been to explaining these long cycles an EYE OPENER!!! ABOVE LINK explains the KONDRATIEFF CYCLE.

Duratek