Lehman Brothers Close To Collapse - US Chapter 11 insolvency procedures starting

Originally posted by Mammoth
Make that -504 for Dow. It just keeps sinking!

Expect a blood bath on the Asian markets tonight. Japan, China and Korea were closed because of a holiday.

Could have another black day on the markets.

Woah, bad news- Predictions for the downfall of more: Goldman Sachs/Morgan Stanley. AIG is in trouble too.

This morning, Roubini forecast another 20% drop in stock prices, and reiterated a prior view that there will be no major independent broker/dealers standing before this crisis ends. In other words, Goldman Sachs and Morgan Stanley should be seeking suitors today, or face a similar fate as Lehman later.

Source

[edit on 15-9-2008 by Mammoth]

Damnit... it's started.

USD vs JPY

[Edit to include source : DailyFX]

Even on a downward trend, all indicators I'm accustomed to are pointing toward more damage to come.

Same is visible on all USD versus Asian and European economies.

This isn't going to be pretty at all.


Double darn!
Just checked in on the USD/CAD and CAD/JPY... the Canadian dollar looks to be following in parallel to the US Dollar.

The CAD/JPY chart is practically identical to the USD/JPY.


Mommy, I want my bottle...

[edit on 15-9-2008 by johnsky]

REPLY TO 'INFINITE"


quote

Expect a blood bath on the Asian markets tonight. Japan, China and Korea were closed because of a holiday.

quote

please explain why the asian market will hurt us, i am at no misunderstanding, i just find the stocks hard to understand, do you think you could elaborate on that answer and cite some validity to it also?

thank you!

I think a prediction has come true!! Well almost

A Very Scary, Very Disturbing Blog Post About The Coming 2008 Economic Crash

...Well what he said next is something the american people aren't suppose to know. He told me that there is an actual plan as to when the economy will completely crash. As of right now he said it will happen in the middle of sept of this year. Also he said that our Government will crash in Feb of 2009...

We'll have to wait and see...

reply to post by indigothefish


Actually is because the markets globally are connected they affect each other, but when the US is down you can see ever body else down at a global scale.

Is very fascinating to see how this works out.

Originally posted by TruthWithin
reply to post by Alxandro

 

You must be out of your GD mind. This is one thing that you can not blame on the "tulip walkers".

This a result of years a republican congress and president. No one wanted to actually pay for anything. Now we are here.

Hey bud, your spandex is on too tight.
I was merely pointing out an observation, no where did I place blame on your, how you say, "tulip walkers".

Truth is the Liberal Congress is also to blame because they came in saying they would fix everything that needed fixing, but they've made things worse.

This is very scary, keep in mind AIG employs over 144,000 people accross the world! Thats 144,000 people, and I happen to be one of them. I hop I get my paycheck Thursday!

reply to post by Alxandro


I agree, I am still trying to digest why Ms Pelosi and congress are bailing out the private industries in the Auto business.

That tells you how much investments all the corrupted politicians have when it comes to corporate America.

They all been pay to serve the masters and forget about the people.

This is scary without a doubt, much of the US economy seems to be built on debt and bad credit with no substance to support it, maybe that was obvious to many people but for me it was a shock seeing that the US national debt is 9.5 trillion$.

If Goldman Sacs, Bank of America or JP Morgan went the way of Lehman what would happen to the US economy? Total collapse?

If CT memory serves me, this is but one element of the weakening of the will of the people. The next is supposed to be catastrophic in proportion. Can we avert war? Can America be 'too poor' to wage war and be obliged to dismantle her offensive power? Or will war be forced upon us?

I don't believe that if there were such a conscious effort to "enslave" us as it were, they could possibly succeed. They suck. We called it, and so have scores of other sites and independent observers. They have become transparent. Should Feb 2009 come to pass without the loss of our national sovereignty, what then?

Too bad we're not all on the same page, we might actually be able to create meaningful dissent.

reply to post by Pentothal


People like you is what causes mass histeria and no confidence in the economy. Even if there were not problems you would cause them.

Well I guess the "hysteria" is hitting the Japan markets as they are close to 500 point down right now.

Yeah, mass hysteria after US black monday.

Good link to watch their percentages.

money.cnn.com...

Yeah - Japan down 4% already, with Australia down about 3%.

[edit on 15-9-2008 by bonaire]

Japan market closed yesterday. I guess they're playing catch-up.

Still, it's just the stock markets, the effect hasn't seeped in to the more mainstream average joes.

Oh Lord,

What has happen to America???

That is what Joe and Jill Six Pack will ask

I will be in the back ground laughing.

When you let Banks run they role instead.

Oh Well

Later

B

Originally posted by bwbarrnone
Oh Lord,

What has happen to America???

That is what Joe and Jill Six Pack will ask

I will be in the back ground laughing.

When you let Banks run they role instead.

Oh Well

Later

B

AIG will need to show 200 billion tomorrow to save its rear from what MSNBC has been told. They are calling this financial Armageddon. They say AIG will more than likely go belly up when they the markets open.

Better get to the banks people or they may just slam the door in your faces tomorrow. I hope not but this don't look good, We all pretty much knew this was coming.

reply to post by bonaire


Hong Kong took a beating. 6-7 percent, Ouch. How are they going to make it at all when ours drops more tomorrow?

This is great:
Feds inject 70 billion into banking system

What do you all make of that?