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French Bank freezes US funds;Stocks Plunge on Rising Credit Anxiety

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posted on Aug, 16 2007 @ 08:14 AM
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FTSE is heading back towards -3% again.

No chance of any type of rally in Europe. If the US takes a little dip, I can see us testing nearly 4%




posted on Aug, 16 2007 @ 08:21 AM
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Countrywide Shares Fall as Firm Draws Down Credit Line





Countrywide Financial, the largest U.S. mortgage lender, Thursday said it is drawing down an entire $11.5 billion credit facility to bolster its liquidity, as a shortage of credit weighs on the mortgage industry.

Shares of Countrywide Countrywide Financial Corp fell $2.29, or 10.8 percent, to $19.00 in premarket trading.

Please visit the link provided for the complete story.


www.cnbc.com...

Well, that's not great news.



posted on Aug, 16 2007 @ 08:41 AM
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Originally posted by Duby78

You know what they say... bulls earn money, bears earn money, but hogs get slaughtered. I hope you're not a (market) hog


Hey! like the next guy, I've gotten a little greedy from time to
but I repositioned myself for these events quite awhile ago Duby78...no current exposure to the broad markets
But I'm kicking myself for passing on those DJIA puts



posted on Aug, 16 2007 @ 08:45 AM
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The feds did another transfusion overnight, the markets optimistic propagandist are still dreaming for a balance in the markets, while opposing to legislation to help people that may lose their houses if the interest rates skyrockets.

12B have been added overnight.

Screw the people while the fat cats have enough time to get their money back.



posted on Aug, 16 2007 @ 09:31 AM
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Originally posted by marg6043
The feds did another transfusion overnight, the markets optimistic propagandist are still dreaming for a balance in the markets, while opposing to legislation to help people that may lose their houses if the interest rates skyrockets.


To be fair though, if the government gets involved, passing legislation it's going to come across as more panic and fear.

If any politicians makes a mistimed comment on this, it ain't gonna be pretty.



posted on Aug, 16 2007 @ 09:34 AM
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Originally posted by marg6043
12B have been added overnight.

Screw the people while the fat cats have enough time to get their money back.


Marg, can you please explain how the Fed adds money to the banking system and how that's going to help out the fat cats?

I'd like to know.



posted on Aug, 16 2007 @ 09:40 AM
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Originally posted by infinite
If any politicians makes a mistimed comment on this, it ain't gonna be pretty.


Man thats a true statement if ever there was one. People must be so nervous at the moment. Anyone watching the so called experts, and are they saying how far they think this will fall.

I heard yesterday a guy talking about a 18 day cycle of bad news generally, but yesterday he claimed was the 19th day of this bad cycle, so what does history show us will happen, after they go over these cycles, he did not seem to know, other than he gets a bad feeling.



posted on Aug, 16 2007 @ 09:45 AM
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Originally posted by djohnsto77

Marg, can you please explain how the Fed adds money to the banking system and how that's going to help out the fat cats?

I'd like to know.


It buys more time for them to get some of their money back, without having the feds dealing with interest rates.

Right now morgages companies are at a stand still, so anybody that has not sign on their new loans yet they are in limbo.

Eventually the weight of the people will force legislation, but right now is a death sentence politicaly, not by the population side but by corporate side to any politicians looking for re-election to make any coments, they may lose their corporate support and money.



posted on Aug, 16 2007 @ 09:46 AM
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Originally posted by infinite
If any politicians makes a mistimed comment on this, it ain't gonna be pretty.


Cue Barack Obama... he seems really good at stuff like that. Appease our enemies and attack our allies and good things like that!



posted on Aug, 16 2007 @ 09:48 AM
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Originally posted by marg6043
It buys more time for them to get some of their money back, without having the feds dealing with interest rates.

Right now morgages companies are at a stand still, so anybody that has not sign on their new loans yet they are in limbo.


I just don't see how Fed repos do what you're claiming. They just increase deposits in commercial banks to provide liquidity, they don't bail anyone out. And whatever help they provide to the markets is a benefit to everyone, whether a big or small player.



posted on Aug, 16 2007 @ 09:56 AM
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Originally posted by djohnsto77

And whatever help they provide to the markets is a benefit to everyone, whether a big or small player.


It bail out with more time to see if a miracle happens and for the regular joes that are to lose their homes it doesn't do anything.

This to help the big cats not the littler people, that is when legislation is needed, but our corporate ridden politicians will rather have the people screw for now.

You should turn to the Squawk on the street, it gives you the pro and cons of what the fed are doing and what they markets are heading.

I am not market savvy but I always said that our economy is nothing but an illusion.



posted on Aug, 16 2007 @ 09:57 AM
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Originally posted by andy1033
I heard yesterday a guy talking about a 18 day cycle of bad news generally, but yesterday he claimed was the 19th day of this bad cycle, so what does history show us will happen, after they go over these cycles, he did not seem to know, other than he gets a bad feeling.


I heard something similar recently about an 18 day cycle. With a major
hurricane headed to the USA next week, we may be in the midst of a
much longer "bad news" cycle this time. Kind of scary when you think
about it..banks having troubles, gasoline prices about to skyrocket..
These two resources are the heart of our economic well-being.



posted on Aug, 16 2007 @ 09:59 AM
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Originally posted by andy1033
I heard yesterday a guy talking about a 18 day cycle of bad news generally, but yesterday he claimed was the 19th day of this bad cycle, so what does history show us will happen, after they go over these cycles, he did not seem to know, other than he gets a bad feeling.


this isn't over, we've got months of this.

gonna be a long few months.



posted on Aug, 16 2007 @ 10:02 AM
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Originally posted by infinite

Originally posted by andy1033
I heard yesterday a guy talking about a 18 day cycle of bad news generally, but yesterday he claimed was the 19th day of this bad cycle, so what does history show us will happen, after they go over these cycles, he did not seem to know, other than he gets a bad feeling.


this isn't over, we've got months of this.

gonna be a long few months.


I understand that, but i was just saying what i heard yesterday. The geezer claimed its past that usual cycle and that he gets a bad feeling about it.

Does anyone know what happens generally when these things go over normal cycles like he desrcibed.



posted on Aug, 16 2007 @ 10:09 AM
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This will make your eyes water

European stock markets.

finance.yahoo.com...



posted on Aug, 16 2007 @ 10:12 AM
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Originally posted by andy1033
Does anyone know what happens generally when these things go over normal cycles like he desrcibed.


well, this happens....

U.S. Housing Starts Fall to 10-Year Low; Jobless Claims Rise





Two key indicators in the struggling U.S. home construction sector fell to 10-year lows in July and the number of U.S. workers seeking jobless benefits rose, government reports said Thursday.

The housing numbers were worse than expected as home construction starts fell 6.1% in July and building permit activity, a sign of future construction plans, sank.

"It does look as if builders are throwing in the towel, especially in the South which is where the most difficult markets are," said Pierre Ellis, senior economist at Decision Economics in New York.


Please visit the link provided for the complete story.


www.cnbc.com...




[edit on 16-8-2007 by infinite]



posted on Aug, 16 2007 @ 10:34 AM
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WTF!?!



The markets just dropped HUGELY..

the FTSE went from just touching 3% to near enough 4% drop




posted on Aug, 16 2007 @ 10:34 AM
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Originally posted by infinite

Originally posted by andy1033
I heard yesterday a guy talking about a 18 day cycle of bad news generally, but yesterday he claimed was the 19th day of this bad cycle, so what does history show us will happen, after they go over these cycles, he did not seem to know, other than he gets a bad feeling.


this isn't over, we've got months of this.

gonna be a long few months.



After briefly glancing back through the volumes of pages in this
sub-forum, it looks like BAD NEWS is perpetual..year in and year out.
If we're not careful, we can become paranoid and unproductive in life.
After all, if you feel that we're going down the tubes, what incentive is
there to accomplish much of anything meaningful?
-cwm



posted on Aug, 16 2007 @ 10:46 AM
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Lo and behold, has somebody look at the Yen!!!!!!!!!!!!

Where is our dollar!!!!!!!!!

Something is going on in the European markets and is not pretty.



posted on Aug, 16 2007 @ 10:48 AM
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well, the FTSE has closed 4% down.

(Third biggest fall in its history)

-250 point

That hasn't happened for a very long time.

I like to point out, this is the number one news story in the United Kingdom.

Also, CNBC Europe are now explaining what a market crash* is and pointing out that European markets were not far off from a crash.

*CNBC are not the first to mention a crash




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