It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

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

page: 13
22
<< 10  11  12    14  15  16 >>

log in

join
share:

posted on Aug, 16 2007 @ 10:55 AM
link   

Originally posted by marg6043
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.


Check out America!

uk.finance.yahoo.com...

Brazil down 6%

Argentina down 7%

Look at Europe too..

Austria down 5%




posted on Aug, 16 2007 @ 11:12 AM
link   
Dow is now down 10% from July record.

currently trading -260 points



posted on Aug, 16 2007 @ 11:14 AM
link   

Originally posted by infinite
uk.finance.yahoo.com...


Numbers like this make me think that this isn't just an American housing mortgage problem. If you look at the numbers, the U.S. markets are among the best off, dropping the least.

If this was a problem led by an American financial issue, don't you think American markets would be the worst hit, at least at first?



posted on Aug, 16 2007 @ 11:25 AM
link   

Originally posted by djohnsto77
If this was a problem led by an American financial issue, don't you think American markets would be the worst hit, at least at first?


yep,
due to globalization, we are all linked together now. Especially the financial markets. So if one get hits, we all do.

I just hope we get a bounce back tomorrow in Europe. Another large drop near 4% will be knock out blow.

It looks like panic now. Everyone is just sell, sell, sell (don't blame them either)



posted on Aug, 16 2007 @ 11:26 AM
link   


Anyone seeing any similarities?



posted on Aug, 16 2007 @ 11:28 AM
link   
here's another one of my mumbo jumbo obsevations, and a reply to an earlier thought....

isn't it ironic that institutions like CountryWide Financial w/$11.5Billion
and American Home Mortgage w/$18.Billion of pre-approved lines of 'credit'
(which is being frantically used to redeem their crashing mortgage paper)

these institutions were extended their lines of credit, using the 'assets' on their books.....which included the currently plunging sub-prime debt paper they still hold.

So, in the end. these and other mortgage lenders, and a glut of private equity investors who are holding all that (soon to be worthless) mortgage debt loans. wiill only be able to fend off the redemptions for a short while.

many have 10s & 100s of Billion$ in bad paper that is being redeemed
but their credit borrowing is maxed out at the cited
$11.5Billion & $18Billions already mentioned....
so its first come first served, and after the institutions pay out their
~$50Billion of cash on hand for redemptoions and then close their 'windows'..& shut down the business.

The Fed allowed the 'credit expansion' to people who would likely be in over-their-head to begin with...thus percipitating the sub-prime & general mortgage collapse in the first place.
Now the Fed is underwriting exhorbanent credit loans, under the same 'voodoo' accounting practices...
i.e. ledgering the sub-prime mortgages as 'capital' and 'assets'
as realized collateral for these latest commercial loans.

i have to disagree with the idea that the home buyers overbought houses,
they were allowed to refigure their income requirements because of the guidelines/lack of guidelines the Fed allowed banks to determine.

i wrote in another thread that the FHA & VA requirements were downplayed or just abandoned all together in the economy of the last 2 decades.
The 75% rule of thumb was for our grandfathers generation, in buying
a residence, but that was also the era of $2,000. top of the line luxury cars.
It's not the homebuyers fault for this mess, it's the absurd creativity
of 'vulture capitalism', hatched out in the smoke-filled board rooms.



posted on Aug, 16 2007 @ 11:31 AM
link   
TruthWithin- i hope your point is not what i think it is. Explain what you meant by this table, and the relevent dates of it.

So do you guys think they need legislation for it not to happen in the future(i mean credit worries).



posted on Aug, 16 2007 @ 11:42 AM
link   

Originally posted by andy1033
TruthWithin- i hope your point is not what i think it is. Explain what you meant by this table, and the relevent dates of it.


I think I understand what he is getting at.

We had a discussion on this thread about the DOW touching and testing the 12,000 mark.

Europe and Asia both finished on 3-4%+ declines, the US might follow.

[edit on 16-8-2007 by infinite]



posted on Aug, 16 2007 @ 11:46 AM
link   

Originally posted by andy1033
TruthWithin- i hope your point is not what i think it is. Explain what you meant by this table, and the relevent dates of it.


I think he means that another 9/11 may be needed to help gain support and fix the markets. Plus will enable Cheney to get his wish of attacking Iran.



So do you guys think they need legislation for it not to happen in the future(i mean credit worries).


Only when the millions of Americans losing their homes starts screaming for something to be done, then we may see some "iniciative" coming from government.


Originally posted by St Udio
It's not the homebuyers fault for this mess, it's the absurd creativity
of 'vulture capitalism', hatched out in the smoke-filled board rooms.


Thank you, thank you, This is what the corrupted capitalism has done to people in America.





[edit on 16-8-2007 by marg6043]



posted on Aug, 16 2007 @ 11:47 AM
link   
Dow now down over 300 points

about 2% i think



posted on Aug, 16 2007 @ 11:53 AM
link   

Originally posted by infinite
Dow now down over 300 points

about 2% i think


Bet someones getting rich though, lol.

The problem is that the world usually follows usa, lets just see where the usa closes.



posted on Aug, 16 2007 @ 12:05 PM
link   
Another contributing factor to what is going on is the "unwinding" of something called the "Yen carry trade". If my understanding is correct people(or more likely multinational institutions) have been taking loans in Japan (which has a low interest rate) in a weak Yen. They have been then taking that money and investing it in other markets which have stronger currencies. As those equities appreciate or kick off dividends/coupons in a stronger currency they can then turn that stronger currency back into yen and repay that loan. This basically allows a higher return due to differences in interest rates and currency values. Arcane I know and i'm certain their is something i'm missing there.

Anyway as the yen strengthens, the Bank of Japan is likely to raise rates. So the benefit of this "yen carry trade" disappears.

So combine that with everything else going on in markets finance, and we may have a perfect financial storm in the works here.



posted on Aug, 16 2007 @ 12:11 PM
link   
I always believe that what goes up comes down. Faster it goes without any reason, comes down even more faster.
.

Just couple of months back I was talking to one of my friend with regards to value of US $ and stock market. Stock market was going higher and value of US $ currency was going down in international market. I couldn't figure out how that can be. ( I still don't know ). Unless economy is doing very good stock market should stay still or up or down but not just in one direction and that is UP. and If economy is doing good then why dollar is getting weak? I know weak dollar allowed import/export easy for US companies.

At that time I thought something is not good about this stock market and it will come down eventually, but I never thought that it would happen so soon. My guess is market might go below 12000 unless Govt intervenes.

Can someone please explain me how value of US $ and stock market are related if they in anyway.

On the side note.
I am just learner and invested just twice in stock market. However I keep an eye on it. Both the times I invested, I lost money because I was impatient and couldn't handle looking my money going down everyday. It was bad market not bad choice. Though I just lost 2K which I could afford, what millions of people will be going through when they see its going down down and down.



[edit on 16-8-2007 by netscape]



posted on Aug, 16 2007 @ 12:12 PM
link   
The US Economy is Falling into Enemy Hands


A specter is haunting international financial markets – the specter of Sovereign Wealth Funds (SWFs) buying up Western assets, putting them at the disposal of potentially “unfriendly” regimes and seriously pushing markets out of balance by changes in their asset allocation towards equities and other higher risk instruments.


www.economyincrisis.org...

Now if this all true then we should be in a panic mode right now, Why? Because this could mean another reason for our nation to engage on the last chapter of the middle east oil wars.

China and Russia are to powerful nations right now that are to benefit with what is happening in our nation and Europe.


China is about to move $300 billion reserves away from the central bank to the newly established State FX Investment Corporation (SFEIC). Russia has already established its Oil Stabilization Fund in 2004 and has recently enhanced the strategy to invest in riskier and potentially higher yielding assets by announcing the establishment of a Future Generation Fund by February 2008.


No good, we are truly fighting an oil war, but greed has blinded America.



posted on Aug, 16 2007 @ 12:13 PM
link   
My intention with putting the table on the post was seeing if any ones sees a direct correlation to what the markets are doing now and what the markets did directly before 911. I do not follow the markets, but I recall hearing massive sell offs were happening in the days right before 911. Just seeing if anyone had any insight.

Rest assured, my intentions are not dubious. Just curious is all.



posted on Aug, 16 2007 @ 12:20 PM
link   

Originally posted by TruthWithin
Rest assured, my intentions are not dubious. Just curious is all.


No at all, this is all relevant to what is going on. Actually I thank you for bringing the issue.



posted on Aug, 16 2007 @ 12:23 PM
link   

Originally posted by marg6043

Originally posted by TruthWithin
Rest assured, my intentions are not dubious. Just curious is all.


Not at all, this is all relevant to what is going on. Actually I thank you for bringing the issue.


Same here, i just wanted you to explain, what your point was. Its good to have all view points.



posted on Aug, 16 2007 @ 12:30 PM
link   
I dunno truth, back then I didn't have any money in the markets (or much money at all in truth) so about all I knew was whether a particular market was up or down. Seems like there was some irregular options activity before 9-11 (puts against airlines). The tech sector was still reeling from it's crash as well back then.This move seems more like a "chickens coming home to roost" scenario more than precursor to some event. Seems more like a result of various long-term policies, loose credit, derivitive explosion,and unregulated entities (hedge funds, private equity) to me.



posted on Aug, 16 2007 @ 12:30 PM
link   
I'd like to make you aware of an observation that I think is relevant to this discussion. As you may know, I wear more than one hat. As part of my 'job' I sample a wide variety of t.v. and radio. When I'm not riding with the tinfoil hat posse, the rest of the world knows me as a mild-mannered political commentator and sci-fi writer.

So I'm tuning my way through the AM dial (radio) today, and I'm hearing a destinct "taking of sides." Conservative radio hosts are strongly suggesting that the MSM is throwing gasoline on the fire by...hyping...the news from Wall Street. The claim seems to be that the Libs want the economy to fail so that their party will clean up in '08. For their part, Liberal show hosts are doing exactly as claimed, throwing their own fuel on teh fire to hype this worsening situation that we're all talking about here.

I think that both sides of the ideological divide are making things worse in their own ways. If this goes on for too long, we may see a stampeed away from the markets. I know its asking too much to expect the political parasites to NOT meddle, but that's what I'm seeing and I'd like to know how the rest of you think this bad behavior will factor in to what comes next.



posted on Aug, 16 2007 @ 12:37 PM
link   
Well Justin you actually do not need talks shows propagandist to tell you what is going on.

The markets in our nation are falling down, just like in Europe.

This people are just playing politics for the advantages of their party candidates.

I do not listen to any of them, to tell you the truth, but I got my beautiful (62 inch) flat panned TV, ( a gift from my husband to himself)
to all the news about the markets I can get (specially on HD)


I can see how Europe is doing as well as the US, you get to listen to the pro and cons by analyst and to tell you the truth here in America we still have the most hopefuls.

What that tells you, our economy is nothing but a dream and as the lie that has been it has to be kept alive even if the roof is falling over the hopefuls heats.



new topics

top topics



 
22
<< 10  11  12    14  15  16 >>

log in

join