The Dow posts its largest ever single day points increase

Edward the Thirst

Phew.

Thank goodness. Now we can get back to spiralling housing costs, obscene directors' bonus payments and to furthering the gap between rich and poor, and calling this the natural state of things.

Twats.

Ted

Off thread James but I have been puzzling Brown's speech on housing. It suggests he doesn't get the credit squeeze and views it, as he says, as a US problem that hit a basically healthy non-asset bubble UK economy, so explains the requirement for 2007 levels of lending placed on UK banks.

Craig Strachan

I'd say dead cat bounce, but evidently Buffet is buying. Hmmm...

luke

MY GOD! Dont tell me the Brown plan is actually working?

Herbert Thornton

My suspicion is that the bailouts have put a lot of important foxes in charge of the henhouse again, so, seeing that a good deal of stock is going fairly cheap, they and the rest of the foxes reckon it's a good time to put some of their money back into the poultry business.

Craig - I was very intrigued that Buffet was reported to have bought a lot of shares in G.E. I think that oil is on the way to losing it's near-monopoly as an energy source and and that it's going to be replaced largely by the generation & use of electricity & I suspect that he's thinking along the same lines.

samantha

Ouch! That's gonna hurt.

http://www.nytimes.com/2008/10/13/opinion/13krugman.html?_r=3&oref=slogin&oref=slogin&oref=slogin

Chris

Take a look at the 12-month graphs of the FTSE and Dow. This isn't a dead cat bounce, I hope, but it's bugger-all in terms of recouping the losses I've suffered since this time last year thanks to El Gordo.

Andrew Forbes

Indeed, Edward the Thirst; are they saving the economy from bust, or are trying to reinflate the bubble long enough to call an election?

Andrew Forbes

Further to last post:

We're all presuming they're saving the economy from bust, which definitely needs doing. Get it back on an even keel

However, if they're trying to reinflate the bubble, then that's inflationary madness, and totally irresponsible. That way lies ruin.