The Dow closes today at 11,383.68 with a drop of -512.76 points

reply to post by thegoods724


Do they run safety algorythms?

Originally posted by Hillbilly123069
DC releases the annual job reports tomorrow. You already know what that is going to look like. That will cause another nose dive.

Here's yer star.
I was watching this happen since RBS's (Royal Bank of Scotland RIP) warning memo
to all their major shareholders back in the middle of August '07. They said in a nutshell,
"Get out of real estate right now or face the consequences." Guess you don't have to
20/20 what happened to them-- or where we are now. Commercial real estate hasn't
even properly adjusted yet, and I'm up in northeast IL watching whole strip malls turning
into big sarcophagi. creepy-creepy....
Back to the jobs thing.. when the disenfranchised "non- people or underemployed"
reached twice the numbers the Gov put out, it becomes meaningless to label the meltdown
as another recession.
Keep your smoothbore lubed HB, the only reinforcements we might ever see may have
blue helmets.

Originally posted by kdog1982
Get a clue,USA!
bring home all the troops from these false wars
that are just filling the pockets of the rich contractors.
....
I live right down the road from Fort Knox,our big gold reserve here in the US.
I bet you one silver bar that there is nothing there anymore.
....

Well put, husky one. There's probably a real good reason no physical
audit of any of the "bullion reserves" has been made since 1954. Does
the adjective 'embezzlement' fit somewhere in here, I dunno..

reply to post by OuttaTime


I can understand the drop in the global markets .... however .... GOLD AND OIL dropped? ..... This goes against everything that i believe when it comes to investing.

Are things to a point where the only possible safe investments is directly related to food, shelter, and warmth? If so what companies should we be looking at for major gains and which companies are going to tank?

Peace and Respect,

-AS-

All of these problems are created by humans. WE are the reason for these things and WE are the only possible solution.

reply to post by AeonStorm


Why should gold have any value? It only has value because it's F****** shiny. To a logical mind the only thing that should have value is food, shelter and warmth.

Originally posted by AeonStorm
reply to post by OuttaTime

 

I can understand the drop in the global markets .... however .... GOLD AND OIL dropped? ..... This goes against everything that i believe when it comes to investing.

Are things to a point where the only possible safe investments is directly related to food, shelter, and warmth? If so what companies should we be looking at for major gains and which companies are going to tank?

Peace and Respect,

-AS-

US debt ceiling raised. Stocks are way overpriced anyway so everybody is piling into treasuries (as evidenced by the falling rates because everyone wants them). Commodities are sketchy because countries are broke.

Originally posted by Dystopiaphiliac
reply to post by AeonStorm

 

Why should gold have any value? It only has value because it's F****** shiny. To a logical mind the only thing that should have value is food, shelter and warmth.

Gold has value because it never decays... once an ounce of gold is made, it will ALWAYS be an ounce of gold...

It is rare to find naturally in earth

You cant print gold

Gold has been money for 5-6 thousand years... Have you seen the American Dream Film on youtube? a short 30 minute documentary... Anyways it explains that it makes it easier to barter for goods and services... Like if you made blueberry pies, and wanted somebody elses meat pies... but they didnt want to trade for your blueberry pie, you could give them gold for their good instead...

Gold IS money !!

I've been assured by the guy at 7-11, they will take gold for slurpees, pepperoni and any other essential items I may need in the event of a total meltdown.

reply to post by dreamfox1

Look for today's unemployment numbers for July to be awful. Any kind of good news may balance things out but right now it looks like another down day in the works. This could be a blood bath on Wall Street.

Here's a little update on the Asia stocks.

[atsimg]http://files.abovetopsecret.com/images/member/478a30bd06b6.jpg[/atsimg]

The Nikkei, Seng, and Sensex seem to have gotten worse, with the others making a little tiny movement up, but still deep in the red.

Edit - Here's a snapshot of the Asia stocks from a few hours ago on one of my previous posts in this thread, for compaison

[atsimg]http://files.abovetopsecret.com/images/member/3fa146c93693.jpg[/atsimg]

reply to post by buni11687


I think we can expect similar from Europe ... currency war!!!

[





FTSE dropping like a rock....

CAC down...

Italy finished!!!! ????

reply to post by freetree64


Got real time numbers? Post 'em

Looks like the Asia stock fall has caused a few countries to go into near-scramble mode

China, Japan urge global talks on economic crisis

TOKYO/WASHINGTON (Reuters) - China and Japan called for global cooperation on Friday after a financial market rout signaled fear that Europe's debt crisis is spinning out of control and the U.S. economy is in danger of another recession.

I wonder what this global cooperation will include? Its not just China and Japan either.

French President Nicolas Sarkozy will discuss financial markets with German Chancellor Angela Merkel and Spanish Prime Minister Jose Luis Rodriguez Zapatero on Friday, Sarkozy's office said in a statement.

Then here comes the Fed on tuesday. They are saying there's not much it can do anymore, but Im not sure. Im guessing there's a good chance another infusion of funny-money into the mix is underway.

The U.S. Federal Reserve holds its next policy-setting meeting on Tuesday, and economists say there is little more it can do to try to spur growth.

IHS Global Insight said there was now a 40 percent chance the United States could slip into recession.

Oh great. Might as well throw Goldman sachs a bone in here to.

The U.S. jobless rate has risen for three consecutive months, and another increase would send a strong recession signal, Goldman Sachs said.

Im also looking around, trying to find out the amount that has been lost, in money terms. So far I have only been able to find Australia's losses

www.smh.com.au...

Update A sea of red on financial markets wiped about $55 billion off the sharemarket on the worst day in more than two years as fears of another global financial crisis spooked investors.

$55 billion in Australia.

Edit - A little update on Asia stocks from my previous post

Hang Seng... -1,205....-5.46%
Shanghai.....-60....-2.14%
Sensex.....-631.....-3.58%

reply to post by area6


Let's just call'em "FUTURES", that which will be, not which could be......

Sorry, no real time, as this has not taken place as of yet.....

Working on the numbers now, will be out in....say.... about three shakes of a lambs tail.... if'n ya get ma drift...

reply to post by freetree64


Yeah, seeing 15min delays now

FTSE100 -2.8ish %

Edit -3.2ish

reply to post by freetree64


Those are European stocks, correct? (Edit - I kind of just answered that question myself before even finishing this post.....I gotta lay off the caffienne) I did a quick search and it seems the European stocks are off to a shaky start.

Italy raids Moody’s, S&P offices

The Tell thinks this is pure coincidence, but Britain’s Telegraph newspaper reported Friday morning that Italian prosecutors have raided the local Moody’s and Standard & Poor’s offices “over allegations that the ratings agencies were involved in ‘anomalous’ movements in domestic share prices.”

European markets slump; RBS tumbles 21%

LONDON (MarketWatch) -- European stocks slumped in early trading Friday, extending a global selloff amid mounting worries over economic growth and high levels of sovereign debt.

Royal Bank of Scotland Group PLC down 21%.....Wow.

Quick snapshot of marketwatch european stocks.

[atsimg]http://files.abovetopsecret.com/images/member/d0930cb5f05b.jpg[/atsimg]


ETA - Here was a snapshot from about 12 hours ago of European stocks.

[atsimg]http://files.abovetopsecret.com/images/member/1f0b3bb16ab0.jpg[/atsimg]

Falling, falling, falling

reply to post by stephinrazin


I wouldn't call a drop in silver from 42 to 39 being crushed. That is a pretty small move. Id call that a manipulation to try and trick investors who believe PM's going down indicate that markets are solid etc.

I predict a rally tomorrow as the PPT kicks it into high gear. However we'll see, one of these times to much confidence will have been lost and it won't work, only time will tell if tomorrow is that day...

DAX on worst losing streak since 1993....

Holy cow, that doesn't even have a " 2 " in it????