BLACK FRIDAY? - 05 Aug 2011

reply to post by JakiusFogg


Things are looking like hell a OP ?



So many people already hurting going into a collapse?
It's going to get very ugly.

its funny how the markets are crashing and most political leaders are on hols or about to depart.

think Barry might even be heading off on hols today.

maybe they are scrambling to the bunkers. that would be funny.

reply to post by iNkGeEk


Cantonese I think, mandarin is an orange....

sarcasm intended....

Originally posted by iNkGeEkme thinks it about time i start learning Chinese. now is that cantonese or mandarin?

Don't worry. They all speak English.

It's a Red Friday. No good new to come on the day, Eurozone is trading :skittish: waiting for the US markets to open and see what happens today before they close up. They are aware of Asian markets but probably are looking at it as though it was their turn to slide while the other investors are pulling the plug (2% FTSE is substantial).

It all hinges on the US.

reply to post by icepack


Just like every other bod around, speculative. but thanks for trying to de-rail in what is a very live and current situation.

As for my financial knowledge. At least that knowledge has helped me keep a profit in my company in the last 3 years.

Anyway back to the Topic at hand

Both the FTSE and DAX have been trying to claw back some of the initial losses. But still around 2% down on the open.

Gold is up $7.4 on the open, after massive sell off yesterday to cover margins and gain liquidity. Personally I think it was a forced buying opportunity.

I guess everyone is waiting for the Job figures out of the US later today.

Originally posted by TheRemedial
It's a Red Friday. No good new to come on the day, Eurozone is trading :skittish: waiting for the US markets to open and see what happens today before they close up. They are aware of Asian markets but probably are looking at it as though it was their turn to slide while the other investors are pulling the plug (2% FTSE is substantial).

It all hinges on the US.

edit on 5-8-2011 by TheRemedial because: (no reason given)

APPARENTLY.... the key data from the USA is about Jobs which is a figure to be announced at around 12.30 GMT..

The expectation is that 80,000 NEW jobs will have been added to the payroll.........i guess if that figure is lower then all the Sheelpe investors and Banksters will wet themselves and say how they never saw it coming.......they are stupid !!!

Regards

PDUK

It makes this look a bit closer to becoming prophetic...

Heads up folks, stay safe.

Originally posted by JohnySeagull
its funny how the markets are crashing and most political leaders are on hols or about to depart.

think Barry might even be heading off on hols today.

maybe they are scrambling to the bunkers. that would be funny.

edit on 5-8-2011 by JohnySeagull because: (no reason given)

Ooohhh don't be sayin' tha' afta I jess be reedin' bout HELLicoptars an' da bleedin' Ebola virus.

Australia's central bank has cut its forecast for growth due to a "slower-than-expected" recovery from floods earlier this year. The Reserve Bank of Australia (RBA) said it expected growth to be 3.25% in 2011, down from its earlier projection of 4.25%.

BBC News - Australia

Looks like everyone is downgrading projections. And here me thinking we were in the midst of a worldwide recovery!! well maybe from where TPTB were sitting!. Not from down here with me though. To me and a lot of people here on ATS it's been obvious for a long while now.

FTSE seems to be on a steady slide after what I reckon was initial bargain hunting.

Now down -2.8%

DAX Same pattern at -2.9%

Stoxx not too bad at -1.5%

Kitco is saying the correction yesterday was only due to people cashing in to cover cash losees, and the up trand has not been broken. all eyes on $1700!

reply to post by JakiusFogg


Greece doesn't even have $840 Billion in debt let alone that much owed to one bank. Also it's not the bond being written off, it's a case of insurance fraud (from what I can tell) that is being settled. In order to write off sovereign debt there has to be an official default.

RBS (Royal bank of Scotland) post 1.4 bn loss.

reply to post by JakiusFogg


Great, 83% owned by the British tax payer/

reply to post by JakiusFogg


Australians are finally starting to wake up! Though both sides of politics are trying to put some positive spin on it all saying that Australia is better positioned, and yeah it is, but when the rest of the world goes down, including our Asian trading partners, so too does Australia. At least one Aussie columnist can see this....

This time it's serious

Even our former Prime Minister is beginning to see the writing on the wall though he remains 'optimistic'.

World financial woes 'truly scary': Howard

so i guess the whole debit ceiling thing didn't matter much. the global economy is still tanking. and the US govt can't do another stimulus package because they have to cut spending. my guess is that the US job report is going to be way below what is expected.

reply to post by iNkGeEk


I saw one thread here ( will see if I can find the link) where the OP did a calculation and at the current rate of spending, the US will hit the "new ceiling" and need to raise it again, on 29 Sept 2011!!!!

Now I don't know how reliable, but the basic mathematics of this where compelling.

Signs the US Economy is slowing and probably did not create jobs...

The S&P/Case-Shiller Home Price Indices are going down
Q1 GDP +0.4% Q2 +1.2% (QE2 Influence)
Durable Goods (DGORDER) numbers are droping
Las Vegas Revenues are down
Oil Prices are (were) starting to cripple the economy
Rising food prices
Natural disasters
Japan Crisis (Export Related)
Eurozone (Export Related)
Layoffs (www.dailyjobcuts.com...)
Bank Closures (www.fdic.gov...)

If they made jobs, how much do they pay and are they temp workers also how many unemployed got erased from the books. It doesn't look good lets face it, really.

reply to post by Rockpuck


Yes alright we've been through this, and has been confirmed on the last page that billion was wrong. Ads mentioned it was something I caught a glimpse of last night, before the official news came out this morning.

But you get a consolation star from me for jumping on the slap the OP for a mistake bandwagon late in the game!!

It's Black Friday!!!

reply to post by TheRemedial


Hmmm, You mention jobs being erased from the books, What is the limit for this now, (that people no longer claiming, are not classed as "unemployed) is it still 6 months?

So with an official unemployment rate of 9%, what would be the real unofficial number i wonder?

And yes any jobs that are created most likely are going to be low paid service sector, or temp i am sure.

We will see later today!