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Will this be Black Friday? - 10/10/08

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posted on Oct, 10 2008 @ 11:17 AM
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Originally posted by BlackOps719


The next market to go belly up will be the auto industry. . .




I always said that the ingenius, butt-saving idea for GM was to re-tool in a hurry and start making condoms. Ford stayed put and didn't make the Top Gainers chart at 10:30 am.




posted on Oct, 10 2008 @ 11:17 AM
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OMG! The Talking Heads on CNBC drive me nuts!

"We aren't in a recession because the unemployment rate isn't high enough"

Well considering how the unemployment rate is calculated, the "Official" numbers will never be high enough to constitute a recession.

For Reference:
Nathan Newman 2003 Blog

US Unemployment Rate --Tops EU
Excellent article with clear examples of how the numbers are fudged

]Market Watch April 2008



posted on Oct, 10 2008 @ 11:18 AM
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reply to post by Artista
 

This is us as well.

We have one frozen in a block of ice kept in my parents freezer for true emergencies and to keep our credit score alive and kicking.

all purchases are made in cash, generally with true actual bills rather than even a checkbook or debit card.



posted on Oct, 10 2008 @ 11:23 AM
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Originally posted by gluetrap
reply to post by Artista
 

This is us as well.

We have one frozen in a block of ice kept in my parents freezer for true emergencies and to keep our credit score alive and kicking.

all purchases are made in cash, generally with true actual bills rather than even a checkbook or debit card.


brings all new meaning to the term "credit freeze" doesn't it? hehehe

I've never even applied for a credit card. I only go in debt for transportation and housing.

I recently liquidated both, and purchased a house with cash. I didn't want to become a victim in this mess.



posted on Oct, 10 2008 @ 11:31 AM
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Market dropped over 1000 points when opening this morning. I see it closing -1000.



posted on Oct, 10 2008 @ 11:35 AM
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reply to post by nj2day
 


We have it only for things like the water heating breaking and flooding our house or those dreaded 2 am on a saturday dog emergencies, things of that nature. Otherwise we dont go into debt for any reason. our house is paid off, our cars were bought with cash and we save for extras like new furniture or T.V.

its a much less stressful way of living!! we are worried enough about the economy without having a mountain of debt over our head since both of us are in retail, me with my own company and my husband for a major dept store. We rely on people having a bit of disposable income to keep our jobs.



posted on Oct, 10 2008 @ 11:35 AM
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The market ticker forum is locked down. Anyone else experience this?


Forum Locked The system is not accessible to persons in your user classification at the present time. The forum has regular "non-donor" lockdown periods, normally during expected heavy load and/or volatile trading days. Gold donors are exempt from these restrictions. See the FAQ for more information on Gold Donor qualificatons. Please try connecting later



posted on Oct, 10 2008 @ 11:37 AM
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reply to post by pluckynoonez
 




Im using Yahoo at the moment...see if this works for you



Yahoo link



posted on Oct, 10 2008 @ 11:39 AM
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data.cnbc.com...

this link seems to update on it's own. I just have it open and resized so that I can see it at all times. Says we are down -361.21 right now.



posted on Oct, 10 2008 @ 11:51 AM
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Here's the White House projection of the rest of the trading day:





posted on Oct, 10 2008 @ 12:09 PM
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Berlusconi Says Leaders MBerlusconi Says Leaders May Close World's Markets (Update1)

By Steve Scherer

Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international [ The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.
[url=http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM]

[edit on 10-10-2008 by scaicoscracker]

[edit on 10-10-2008 by scaicoscracker]

[edit on 10-10-2008 by scaicoscracker]

[edit on 10-10-2008 by scaicoscracker]



posted on Oct, 10 2008 @ 12:13 PM
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Originally posted by BlackOps719
reply to post by pluckynoonez
 



Im using Yahoo at the moment...see if this works for you


Yahoo link


Thank you, but I am talking about this place www.tickerforum.org... where fedupusa originated.



posted on Oct, 10 2008 @ 12:13 PM
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biz.yahoo.com...

japan to propose bailout fund at G-7


they will offer dollar reserves held by G-7/G-8 central banks for funds to help the IMF try to bailout this mess.

we shall see if this tanks the dollar, that is the biggest risk A Treasury default

also the competive currency devaluation ("death spiral") may begin to combat deflation and to bailout "anything that moves" economist john rubino spoke about this one year ago, this week he said the "death spiral has begun"

he said that at first many people may not notice the competive devaluation because currency's or only compared to each other, so the rate between the dollar and euro may stay the same ,so long as they are both freefalling at the same rate, other economists such as Jim Willie believe that certain investment banks are using Gold futures markets to keep the price of gold down during this time, which would otherwise signal loud and clear to investors that currency's are approaching there intrinsic value (i.e the value of the paper they are printed on = zip)

smart money is getting into gold at the fastest clip that some bullion dealers have ever seen in there lives, so there may be something on the horizon (such as rubino and Jim willie speak) of.

[edit on 10-10-2008 by cpdaman]



posted on Oct, 10 2008 @ 12:16 PM
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reply to post by pluckynoonez
 


Plucky, KD did indeed lock down the tickerforums. It's driving me crazy because I can see the threads and titles but I can't read 'em!

They must be getting swamped over there.

BTW I called 1000+ in the other thread.



posted on Oct, 10 2008 @ 12:21 PM
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The Dow is plunging again, - 450 pts and still going down. Here come the sell offs....



posted on Oct, 10 2008 @ 12:23 PM
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and in about 40 minutes the final results of the Lehman auction will be posted. Think traders got some early news?


JSR

posted on Oct, 10 2008 @ 12:24 PM
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Originally posted by gluetrap
We have one frozen in a block of ice kept in my parents freezeR......


yea...me too. my niece was babysitting one day and called and said, "why do you have a credit card in your freezer?"

she is 13. i told her, "you'll understand when you get older."

i feel bad for what my kid has to grow up in.......



posted on Oct, 10 2008 @ 12:24 PM
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All I know is that, right now, the Amish are laughing their collective asses off at all of us. They have it right.



posted on Oct, 10 2008 @ 12:27 PM
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reply to post by netwarrior
 


Yes, and like I said (I think), I've been visiting that place for a year and this is the first time I have experienced a lock-down. Tis frustrating.



posted on Oct, 10 2008 @ 12:31 PM
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reply to post by HatTrick
 


They probably don't know what is happening. They probably just picked up on 9 11, but are having problems putting a picture on that plane word. Sad to say, but they will get through this better than many of us. Some legacy for humankind....

Edit because I can't spell.

[edit on 10-10-2008 by Ismail]




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