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NEW YORK (CNNMoney.com) -- Stocks were mixed Monday morning, with investors edgy amid a thrashing in global markets, following the worst week on Wall Street in four years
NEW YORK (CNNMoney.com) -- After surviving the worst week on Wall Street in nearly four years, investors return to face what could very well be another endurance test. Get ready.
With no meaningful earnings reports due and most of the relevant economic reports not expected until Friday, the week ahead is likely to bring more choppiness and few anchors....
Stocks slumped across the board last week, as a massive selloff in Chinese markets on Tuesday caused a domino effect across a variety of world markets, including the United States
China got the ball rolling, but it wasn't just the international markets that spooked U.S. investors last week. It was also a surprisingly weak read on durable goods orders and a run-up in a key inflation indicator.
Comments from former Federal Reserve Chairman Alan Greenspan that the economy could be heading for a recession by the end of the year didn't help.
There was also a plunge in the dollar as global traders rushed to close out carry trades, or bets on riskier currencies financed by borrowing in the currencies of countries with low interest rates, like Japan.
Cornered Rats and the PPT
For the past 12 years then, the PPT has been used by Washington to control the price movements of the NYSE through the buying of S&P futures as former Fed governor Heller advocated. Whenever a crisis appears especially threatening, the PPT swings into action to shore up equity prices on the exchange. The media sycophants of the establishment turn a deaf ear to such ... They are happy with such an arrangement, and being unable to grasp the long-range ramifications of such market rigging, ... The fact that eventually such rigging will destroy the integrity of the markets as free institutions of trading is for someone in the future to worry about.
Since the PPT's operations and existence must always be kept secret, then its funding must also be orchestrated in clandestine manner. It must be done offshore. And this is where the funding for the PPT undoubtedly comes from. ... The Fed launders billions of dollars into an offshore bank account for say XYZ Investment Corp (which is established as a front for the PPT). JP Morgan and Goldman Sachs are then designated as the brokers for XYZ Corp to act as the funnels to bring the "new money" into the economy via the PPT's "market stabilization activities." Thus, there are unlimited funds for use to buy S&P futures whenever the markets look to be in jeopardy. ...
...the PPT merely lights the fire by intervening into a dangerous market sell-off with massive purchases of S&P longs to check the fall. This ignites short covering, which then brings in the hedge funds and other institutional money to try and catch the train before it leaves the station. A large rally ensues, and the PPT then sells its long positions into the hedge fund and institutional buying. In this way, they never go "net long" stocks. They do not accumulate inventory. Thus, they do not actually add their Fed created "new money" to the system. So their actions are not inflationary.
Etshrtsir - the housing market has been on the slide for several months, no official "burst" of the housing bubble. When it does (mayb if it does?) do you think the effects will be like the effects of the "dot com" burst in 2000?
Originally posted by Gools
You mean like using the Plunge Protection Team and offshore front accounts to purchase stock index futures contracts thus forcing the underlying index to rise?
Originally posted by Here Now
Lets just say, if you want a nice new shore house (Wait till 2009) they should be down 25-40%! Keep that money under the mattress till then ;P