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Stocks Tumble at Open

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posted on Oct, 6 2008 @ 01:03 PM
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reply to post by alphabetaone
 


In another 1hour and 15 minutes we will see more selling probably. That is usually how things tend to work the last 45 minutes of trading when the market fails to pick itself up.




posted on Oct, 6 2008 @ 01:03 PM
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Originally posted by GoalPoster
Inching toward the 9700 mark as we speak . . . it was steady around 9800-9850 for most of the day so far but it is clearly sagging . . .


The only silver linings I can see in this is, oil prices are dropping and the dollar is strengthening.

When the government spend some of the money hopefully people began to spend their capital and maybe the Dow will shoot up.

Another problem is big government. Bush and congress has us 10 trillion dollars in the hole.

This means Bush and Congress didn't pay for anything. They borrowed and spent us into oblivion. It's like buying up Best Buy with your credit card and then spending through your savings.

Bush gave out 12 Veto's vs. Reagan 78 and even Clinton with 37.

Bush borrowed more money from foreign countries then the 42 Presidents combined in his first 4 years according to the Treasury Department.

So lost in this blame game is Washington's role in all of this.



posted on Oct, 6 2008 @ 01:05 PM
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reply to post by grimreaper797
 


Probably right, but it was my ditch effort toward optimism ya know.

The reality is though, that I'm sure you're 100% correct.


AB1



posted on Oct, 6 2008 @ 01:11 PM
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Originally posted by infinite
reply to post by tide88
 


Russia has the third largest reserves in the World. It will not be going bust, but the government will finally decided to introduce a proper working system, which isn't controlled by the state and Oligarchs.

Iceland could face a potential economic collapse, a member raised its possibility back in March this year. The currency and financial markets of Iceland have been eviscerated.

Really you think russia is in good shape. The plunge of oil has killed their economy. They suspended trading today and dont know when the markets are going to reopen.

Russia halted stock and bond trading on Wednesday amid the worst market falls since the country's 1998 financial collapse and the Finance Ministry pledged a total of $60 billion of funds to help local banks.
source



posted on Oct, 6 2008 @ 01:13 PM
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reply to post by tide88
 


Yes, because the stock market doesn't reflect the value of their reserves. Foreign investors are those moving their capital.



posted on Oct, 6 2008 @ 01:13 PM
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reply to post by grimreaper797
 


Again, your not making sense.

Why should we give them 700B when there's capital available?

The problem isn't capital it's bad assets. We blinked first and gave away the farm.

We should have went to them and said we will take those bad assets off your books for a few billion dollars and you can stay in business.

Instead they came to us and said cover our losses or we will take down the economy.

So now everything is tanking because people are not risking and spending capital because there's 700B out their that will be introduced to the markets.

So, there was a correction in the markets and we could have had a mild recession but now we are facing something deeper because you and your friends in Congress want to cover the losses of these banks and this is causing everything to FREEZE.



posted on Oct, 6 2008 @ 01:15 PM
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reply to post by infinite
 

I understand what they have in reserves, but the price of oil and now the fact they are having to pump billions of dollars into their banking system does effect those reserves, correct?
Maybe I was jumping the gun though on the collapse tomorrow prediction!
A 1$ drop in oil equals 1.4 billion in revenue lost for them. That is quite a bit of cash to lose. Especially seeing how far oil has fallen in the past 6 months.



[edit on 6-10-2008 by tide88]



posted on Oct, 6 2008 @ 01:18 PM
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reply to post by Wise Dome
 


We are not giving them the 700 billion dollars. We are using it to buy assest( for 30 or 40 cents on the dollar) that we will sell at a later date, possibly for a profit. That then in turn will be paid back to the tax payers. No one is getting anything for free.



posted on Oct, 6 2008 @ 01:21 PM
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Originally posted by sty
THE REAL QUESTION IS :Who is behind this all? Who will benefit? is this the pretext for a golbal domination?
In my country ( Romania ) we also had a drop of 10 % in one of the centers..

so my question again - who is behind this?


Interesting thing. Late last week, I started reading Jim Marrs' RULE BY SECRECY. I know, I'm a little late to the game. But the great thing about reading a good (at least in my opinion) conspiracy book that was published pre-9/11 is being able to see certain things in the long-term, and certain predictions come to pass.

Marrs makes a very credible case that the world financial markets (as well as the world as a whole) is fully run by groups like the Bilderbergs, the Trilateral Commission, and the Center For Foreign Relations. These three groups all draw direct or indirect ties to the Freemasons, secret societies like Skull & Bones, and old school groups like the Illuminati. Now I know all of these groups have been conspiracy bait for ages and the theories about them have been publically discredited for nearly as long. Marrs shows exactly HOW these groups run the world, both financial as well as political. Their direct aim is a one world government ruled by their select elite.

I'm only halfway through the book right now (I read a chapter or two before I fall asleep) but I've found many of the parallels to this current financial crisis to be chilling. So to ansnwer your question as to 'who,' I think it's clear. It's the 'why' that bothers me. This is all being heavily, heavily manipulated. And this isn't some long-term plan in motion... well, it is, but this current situation leads me to believe that we are close to an end-game. To what lengths are these groups willing to go to achieve their goals and are they resorting to a 'slash and burn' approach?

There is only one glimmer of hope here. As one who believes in far-reaching global conspiracies, could this worldwide market crash actually be the result of forces acting AGAINST these secretive organizations? Could this be an attempt to cripple the financial giants in order to restore economic and political power back to the people? Could this be a way for us to finally get rid of the Federal Reserve system? I would love it if this were the true reasoning for what we are seeing. At any rate, we the public... even the informed public who actually pay attention to things... are only seeing the very tip of the iceberg. There is so very much going un under the surface that we'll probably never get a look at. As they say, history is written by the victors... and even then, only the parts they want known.


[edit on 10/6/08 by larphillips]



posted on Oct, 6 2008 @ 01:22 PM
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Wow...2:18 est time and the DOW is down 675.17pts, and currently at 9,649.59. How long is it going to take for that $700 Billion Bailout to affect our economy anyway? I'm so glad we have competent politicians running our country.



posted on Oct, 6 2008 @ 01:27 PM
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Originally posted by tide88
reply to post by Wise Dome
 


We are not giving them the 700 billion dollars. We are using it to buy assest( for 30 or 40 cents on the dollar) that we will sell at a later date, possibly for a profit. That then in turn will be paid back to the tax payers. No one is getting anything for free.


Yes we are and it's going to cost us more than 700B dollars.

Say a company has a billion dollars worth of bad assets and we buy those assets for 300 to 400 million. They have just made most of their money back and the bad asset off of their books.

We then have covered their losses, which you people want to do for some reason and now we have to expand government in order to get anything out of the asset.

We have to open up a new office called the department of economic stability that you will have to pay for.

Also we will increase the debt ceiling and the debt is over 10 trillion dollars now.

It also seem that you and others just love the efficiency of government and of course there will not be any wasteful spending that we will have to cover (INSERT SARCASM).

Sometimes I just don't understand the American people. You are obviously getting fleeced and you seem to asking for more.

It's like Hitler said:

"It's a fortunate thing for governments that the people don't think."

EDIT: I meant to type 300-400 million but now I think about it, with government inefficiency we will end up spending even more than what the asset will cost us.

[edit on 6-10-2008 by Wise Dome]



posted on Oct, 6 2008 @ 01:29 PM
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Hitler was a brilliant man (minus the whole Holocaust thing). He brought Germany out of a depression before going bat sh*t crazy...



posted on Oct, 6 2008 @ 01:30 PM
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reply to post by Wise Dome
 


If they have assests of 1 billion dollars we would by them for 300-400 million. We are not paying 3 times of what those assests are worth. We (the US governement) are buying them at a discount rate of 30-40 cents on the dollar. Not sure where you get you info that the govenement plans to pay these companies 4 times of what those assests are worth. Then in a couple of years, when the economy and housing has recovered, they sell those assests for a profit. You obvioulsy dont know anything about the plan so you shouldnt comment on it.

[edit on 6-10-2008 by tide88]



posted on Oct, 6 2008 @ 01:31 PM
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Dow is down 730 points now



posted on Oct, 6 2008 @ 01:36 PM
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reply to post by goldbomb444
 

Freefall similar to that of some EU stock markets a little earlier in the day. Really hope it stops soon, but I doubt it will. People are selling in panic now.



posted on Oct, 6 2008 @ 01:36 PM
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Originally posted by Wise Dome
Again, your not making sense.

Why should we give them 700B when there's capital available?

The problem isn't capital it's bad assets. We blinked first and gave away the farm.


These statements alone are showing me you don't understand the basic things Im saying to you. When you repeatedly go "its not a problem of capital, but bad assets" when I continue to say that, you obviously fail in the reading comprehension sector.

I can't continue to argue with you when you don't even understand what I am saying.



posted on Oct, 6 2008 @ 01:39 PM
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The bailout didn't do anything but freeze the market.

People are not spending their capital if there's 700B out there. This is a FREEZE because we are covering the losses of companies with this nonsense.



posted on Oct, 6 2008 @ 01:44 PM
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Originally posted by Wise Dome
The bailout didn't do anything but freeze the market.

People are not spending their capital if there's 700B out there. This is a FREEZE because we are covering the losses of companies with this nonsense.

We are not covering loses. We are buying those assets at a discounted rate. Those banks will still have loses. The governent isnt paying full price, or as you like to think three to four times full price, for those assests.



posted on Oct, 6 2008 @ 01:45 PM
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Originally posted by Wise Dome
The bailout didn't do anything but freeze the market.

People are not spending their capital if there's 700B out there. This is a FREEZE because we are covering the losses of companies with this nonsense.


The epic failure of logic in this statement is simply staggering.

First, the 700 billion isn't "out there", its a promise of 700 billion dollars to buy up assets. There is a freeze...because we are covering companies losses? Do you even read what you write?

The banks freeze up because they have these bad assets...then you say they are freezing up because we are going to take those bad assets off their hands? Honestly, are you really reading what you write?



posted on Oct, 6 2008 @ 01:47 PM
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[edit on 6-10-2008 by tide88]




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