US Economy diving, All major bank stock prices dropping like a ROCK

So after the recent failure of Bear Stearns and IndyMac I decided to look at all the other major stock charts for other large banks. Wachovia, Wells Fargo (the strongest, but not saying too much) JP Morgan/Chase, Bank of America, etc

I noticed there all crashing and burning. With the failure of Bear sterns and Indy mac, i can only imagine with time the rest will fallow. There losing tons of money daily and the investors know this. Their Stocks are about worthless, and that is a huge loss of capital. The scary part is the rapid decline of these stocks. Losing 70% in a month or two. After years of steady stock prices. i know stock price isn't everything but it sure is A LOT! Its clear why too, the whole "credit crisis"! But How long will these banks be able to manage this? Arent they all just trying to delay the inevitable?

This just seems all too similar to the original Great depression. All we are missing is a Major stock market collapse to really spark the flame. and the market has been bounced around in every which way the last few years. Being tugged and pulled in every directions trying to keep it afloat. Well i think its about to sink! and like a rock.

Im glad i have been studying my out door living skills. If this all hits the fan, Im going to bike to the mountains and live off the land. Live off the land for free! Fresh water, easy hunting, tons of wood and privacy. Rough but nothing a few boxes of silver cant bail me out of by then. yay for $5 an ounce for silver in 2003!





[edit on 13-7-2008 by ghostlandseller]

Wachovia 4 year stock chart!

I think we're getting close to a transition, whereby the United Nations rises as the eighth world superpower due to the coming crisis and the formation of the North American Union. We're still in the early stages of it, though.

If we have some type of terrorist attack, that would speed up the process of this collapse...

Well, do you seriously think even the UN could cover the asses of all our major banks? They would have to do some pretty major intervention in order to get our economy back on track.

But if they do this could all spell the end of the US. an we even declare bankruptcy as a nation? Would other nations even allow us to. Because we would bring down a lot more than just ourselves.

reply to post by ghostlandseller


Thats a pretty telling chart there. Myself personally I have been out of the bank for about 3 years now and continue to encourage others to do the same. I saw the writing on the wall many moons ago. Have a stop and shop that cashes my checks and all bills are hand delivered or mailed - no biggie. Its not like your making anything on interest anyway and you have the cash (such that it is) in hand. Most of it has gone into preparations for whatever happens or doesn't. As they say - You cant take it with you.

Saved my Mother from losing my Fathers hard earned pension - she pulled out of the market two days before she would have lost (she claims) $80,000. she now has a two year supply of food (Efoods) a gun and quite a store of gold.

If nothing happens - Great! But I would urge folks to be prepared. I personally would much rather have it and not need it, than need it and not have it.

Get a gun, get in shape (for Gods sake, pull the dirty laundry off the ab lounger and get to it) and get ready.

HAHA yeah Shot guns and rifles are pretty readily available here in the South West US. Texas. haha If your father didn't have a bunch your grandfather probably did and there pretty readily passed on, and if not you can probably find an antique one sold at some junk shop out in the county without having to sign a bunch of paperwork.

But yeah, Better safe than sorry. I got a lot of silver piled up. already skyrocketing in value. in just the last few years my silver has gone from $5 an ounce to currently just shy of $19 an ounce. Almost 400% in just a few years! If that right there doesn't say something else.

Originally posted by ghostlandseller
HAHA yeah Shot guns and rifles are pretty readily available here in the South West US. Texas. haha If your father didn't have a bunch your grandfather probably did and there pretty readily passed on, and if not you can probably find an antique one sold at some junk shop out in the county without having to sign a bunch of paperwork.

But yeah, Better safe than sorry. I got a lot of silver piled up. already skyrocketing in value. in just the last few years my silver has gone from $5 an ounce to currently just shy of $19 an ounce. Almost 400% in just a few years! If that right there doesn't say something else.

Not to throw the topic here but about that silver value. They say the market value is about $19 an ounce but you cant get it at that. Now this guy down the street will sell it at $30 so doesn't that make the value $30 an ounce - Hmmm.
Back on topic. Sorry OP

Originally posted by ghostlandseller
Wachovia 4 year stock chart!

Looks like someone dumped 200 million shares around about March. Dollars to doughnuts that was the Bank's CEO and insider executives cashing in their stock options and hiding the money before they go into receivership.

reply to post by ghostlandseller



Exactly. Worldwide chaos would have to erupt for this happen, on a scale never before seen. I'm not sure how this will come about, but some bad stuff has to happen first. The elites want a UN with teeth, so that a planetary government can be established.

The government is completely prepared for this thing to happen. I'm just worried about the massive civil unrest, because that will be quite disturbing.

yes this is the big one.

bear stearns in march was just an omen of things to come. look at any banks stock price and you will see a dive similar to wachovia. i looked at my own banks stock price (BBT) and while it is not as bad as wachovia it is also diving. i will be watching it very closely on monday and if things get dicey i am taking out the rest of my money!

monday should be very intresting. they always release the worst financial news after makets close on friday, so they have a whole weekend to manipulate things around and also in hopes people will not be freaked out by monday. (like the bear stearns fiasco)

stocks that are looking ready to collapse:
Wachovia (WB)
Lehman Brothers (LEH)
Washington Mutual (WM)

now if i was a betting man i would short these stocks. unfortunatly this market is manipulated by the Plunge Protection Team so monday will be a very dangerous day to invest. probably right out of the gates the PPT is going to dump huge amounts of cash to try and prop up the system. in the end it will be like "throwing a deck chair off of the titanic"

intresting times to be alive indeed. major change is comin down the pipe whether people like it or not!

[edit on 13-7-2008 by TheRepublic]

Yeah the bulk lot for silver is $19, but to buy a few billion is much more. i purchase mine on ebay. market price for th most part if you buy old US silver coins. But 1 oz coins have a premium.

but anyways. all the banks have almost identical curves. Being in the same sector, Some have more to fall back on than others which is why the ones with less to fall back on are falling out early, but the others don't look like there going to be having a sudden turn of events. Momentum will tell you its looking really bleek. So the other banks are eventually going to fallow suit i would assume.

Its kind of like a bunch of pokemon card stores. Once the craze was over they all shut down, the ones who also delt in magic cards held out longer but eventually died out too. HAHA terrible analogy but im sure you get my point.




-------------------

i was happy to see the demise of pokemon. I collected baseball cards and i was disheartened to see the baseball card section get wiped out by pokemon cards at every baseball card shop!. haha But the true and hardy baseball card lived on. although the hobby is being torn to pieces by the companies TOPPS, FLEER, and UPPERDECK. haha destroying anything that was good about the hobby to maximize profits.

Yeah a short would be pretty profitable, i would say short every bank though, keep it rounded to the entire bank sector and not just one bank. because the feds cant bail out the entire banking sector.


But people are getting worried about their banks. this is a big problem. People are afraid of their money getting lost in the bank and if these larger banks go down there will be no FDIC. Millions of people will be left with nothing for their long lives of hard work and saving. But also if people all freak out and withdrawal their money because of his worry it will only accelerate the problem at hand. much like hat just happened with the bank run for Indie Mac.

It just looks like this is all accelerating faster and further into the black whole known as USA Bankruptcy. Everything is finally coming together. all the problems everyone has been talking about all happening at once to form this giant pile of (bank failures.)*****.

We are now in the mid of the crisis, this started about two years ago and took momentum last year with the housing bubble crash, this year the inflation brought to us by the oil crisis is building another momentum.

We are a bankrupt superpower as today, while the first financial institutions to collapse were bail out by the fed now this new wave of bigger financial institutions is now been hit like a domino effect.

Our nation do not have more money to bail out the this new wave.

It's going to be interesting how the markets will open tomorrow.

But as with anything in our nation we the people has become numb and blind to see all this for what it is.

The lack of reaction from the first wave of financial trouble and bail outs at the expenses of tax payer people will bring the dirty corporate elite and dirty rats to keep putting more debt at the backs of hard working Americans.

The question is what we the American tax payer are going to do about it.

were going to sit at home watching fox news on our 40inch LCD flat pannel TVs which are being financed through Con's, grumbling that gas is more expensive and eating that Dominos pizza that cost $5 in gas to be delivered to our houses.

thats what we, the American people are going to do!

there really isnt much we can do with society today. In mass, No one will care enough to fight for something as long as they have a comfortable place to plant their asses and food to eat.

reply to post by ghostlandseller


i agree! it is an extremely logical move to short the banks on monday. but one thing ive learned from watching the market in times of crisis is it always does the opposite of what everyone exspects. all the people who did the obvious shorts on banking stocks get wiped out!

the reason for this is the Plunge Protection Team manipulates the numbers and buys up huge amounts of stock. if you are watching the charts when this happens it is very obvious. we dont live in a free market at all actually, if we did though you better believe i would short wachovia on monday. but the game is rigged so i will just watch this round and see what happens. I think things might be getting so bad though that the plunge protection team might be losing control!

the only thing more scary than a nebulous corrupt agency propping up the market, is the market imploding taking us back to the great depression...

My mother is a credit manager at a bank here and says pretty much the same thing is happening here. Banks here are in a "take over or be taken over" situation. This doesn't look good at all. I think that those who have total reliance on money as a means of survival are going to suffer quite badly in the near future.

Yeah i have already seen a lot of smaller independent banks out here in some of the smaller towns go under.

This is no longer speculation. Its just worrisome to see this actually happening. I have been expecting this for about some 5 years now. Just waiting for it to finally click and fail.




Its kind of like blowing up a balloon. You know when it getting really large and about to pop, but it always makes you jump when it actually pops.


well it popped.

I work for HBOS one of the bigger UK banks when I started about a year ago our share price was around £10 just over 1 year later and its around £2.65. We are currently trying to raise more capital and have recently asked shareholders for more money via a rights issue.

HBOS are the UK’s biggest mortgage lender and with the impending Buy to Let property crash which will be followed by the rest of property market crashing, our investors our running scared.

Personally I wouldn’t be surprised if HBOS are finished in under a year, however I cant begin to think of the damage this would do to the UK economy

Regards

Paul

I guessthe next wave of insecurities to hit the American people and prompt them to go running to the their banks will be the next stage.

But while before we the people had the rights to demand and protest, now the new face of corporate power will be showing their power hold.

You will be greeted with goons for hire with automatic riffle waiting for you in front of your banking institutions like IndiMac this to his costumers.

Where is the outrage of the people in the land of opportunity, the free and the pillar of civil rights example.

I figured it was mostly a USA problem, but its kinda surprising ,even though it should t be, to see it having suck a large impact on a internationally based bank. Well this wont be good for alot of the world.

Well stock market is OPEN. Lets see what the day will bring! lower bank stocks i suppose??????????