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

I'm in the UK. Anyone know what time GMT Bush's address will take place as I'd like to watch it on sky news or similar, thanks

reply to post by BlackOps719


I am in Europe right now, watching the carnage unfold, and being reported straight-faced as if nothing... most listings at around -9% while waiting for Wall Street to open, and to see what Bush has to say...

My guess is that, since this is a planned demolition, they will NOT close trading today, to allow the bleeding until there is no more...

I'll have some wine as I watch history unfold, and kiss my work good-bye...

Yet another swell piece of news for the markets.



GM plunges 31% as outlook grows dim...Ford slides 22%

NEW YORK (Fortune) -- Investors cast a shocking vote of no confidence in the future of U.S. automakers Thursday.

After dropping sharply early in the day, GM (GM, Fortune 500) stock closed down 31% to $4.76 a share, while Ford (F, Fortune 500) fell nearly 22% to $2.08. A flurry of bad news was to blame, of which the latest was a declaration by ratings agency Standard & Poor's that it was putting GM and Ford on credit watch negative "because of the rapidly weakening state of most global auto markets" and weak capital market conditions.

The stock selloff effectively puts both companies on death watch, and it's easy to see why. The ratings warnings followed a new report by Global Insight that shows U.S. auto sales hitting recession levels this year - and then sinking lower in 2009.

"We won't get back to where we were in 2006 until 2013," said George Magliano, director of forecasting for North America for Global Insight. The economic forecasting and consulting firm based outside Boston is forecasting sales of 13.8 million units this year and only 13.4 million in 2009, compared with 16.1 million last year.

CNN Money

I agree, if this goes down Alex Jones should be commended. Also Lindsy Williams, he has very power statements out there that are all to scary. Watch out for when oil gets to $50 a barrel.

Originally posted by cosmicpixie
I'm in the UK. Anyone know what time GMT Bush's address will take place as I'd like to watch it on sky news or similar, thanks

Opening bell is 9:30 am EST, roughly 1.5 hours from now.


Bush from what I was previously told will address the nation at 10am EST, but according to Yahoo he is set to make his speech before opening.


Can anyone confirm a time on the speech?

reply to post by cosmicpixie


It was supposed to be 10 am eastern time which wold have been an hour and 50 minutes from now.
It has been changed to 10:25 now, so it iwll be in 2 hours and 15 minutes give ot take a few.

Any predictions on what Bush will have to say?


Could he really come out with a straight face and hold the same old line of "everything is ok...the economy is sound" crap....or will he actually tell the world what is really going on?

I am sitting here wondering how the Bushwhacker even has the cojones to get up in front of millions of Americans (much less the world) and not be embarrassed all to Hell..... perhaps he's too much of a tard to really understand what is going on?


then of course there's this explanation:


Bush's legacy? Worst President EVAH!

thanks.
woke up to a storm of serious news here this morning, I'm still wading through it all and feel like I am some character in a movie , its all rather surreal and impossible to not think about. Glad I am s/e and work from home as can keep updated throughout the day though can't say much work is getting done...

Originally posted by citizenc
reply to post by BlackOps719

 

I am in Europe right now, watching the carnage unfold, and being reported straight-faced as if nothing... most listings at around -9% while waiting for Wall Street to open, and to see what Bush has to say...

My guess is that, since this is a planned demolition, they will NOT close trading today, to allow the bleeding until there is no more...

I'll have some wine as I watch history unfold, and kiss my work good-bye...

I feel bad for all of you guys across the pond, but at least your thrashing is over and you know where you stand.

A couple more hours and us poor Americans may not even have an economy left to worry about.

Cheers

reply to post by BlackOps719


The demolition campaign has also a very strong psychological base. Most of what is happening is due to the fact that "they" accurately predicted that by shooting a few rounds of live ammo in the face of investors around the world, panic would ensue, and the "herd mentality" would take care of the rest... stampede on the way...

So I think that Bush's poker face will state that, "since the situation is so serious... bla bla bla" some general ambiguous statement to do nothing to control the fear-jerk reaction in the market, and let the blood fest continue...

"Let them eat the cake..."

[edit on 10-10-2008 by citizenc]

Originally posted by BlackOps719



Any predictions on what Bush will have to say?

He'll come out and say that they're doing everything possible to right the ship . . . he'll tell everyone to have faith and to remain calm . . . he'll extoll the virtues of the G7 getting together this weekend to solve the world's economic ills . . . will explain why the government has stepped in and halted trading on Wall Street today and he'll then close without taking questions.

Then he'll head for the bunker . . . hopefully to a bowl of pretzels.

I believe that market triggers will be in effect when Bush makes his speech. Why? It's planned? Just spit balling here folks, but remember to give me credit if it happens.

reply to post by GoalPoster




It is safe to assume that we now know why Bush bought all of that land down in Paraguay.


Little odds of this captain going down with the sinking ship yes?

Originally posted by son of PC
I believe that market triggers will be in effect when Bush makes his speech. Why? It's planned? Just spit balling here folks, but remember to give me credit if it happens.

Duly noted.


And it wouldnt suprise me one bit if you are right.

What a stupid dumb ass time to be making an address just after the stupid markets open...

He could always make it of an evening if he didn't insist on going to bed so early.

I suppose night time addresses are restricted to announce invasions...

He might announce an across the board partial nationalization of the banks.

That will at least legitimize my avatar

[edit on 10-10-2008 by mattguy404]

Originally posted by citizenc
reply to post by BlackOps719

 

The demolition campaign has also a very strong psychological base. Most of what is happening is due to the fact that "they" accurately predicted that by shooting a few rounds of live ammo in the face of investors around the world, panic would ensue, and the "herd mentality" would take care of the rest... stampede on the way...

So I think that Bush's poker face will state that, "since the situation is so serious... bla bla bla" some general ambiguous statement to do nothing to control the fear-jerk reaction in the market, and let the blood fest continue...

"Let them eat the cake..."

[edit on 10-10-2008 by citizenc]

The stampede is coming. One hour away and counting.


Let the bodies hit the floor.

reply to post by mattguy404


"That will at least legitimize my avatar "

Avatar that I saw on another thread, and really cracked me up... brilliant...

Damn it, I still speak no chinese...

[edit on 10-10-2008 by citizenc]

Originally posted by mattguy404
What a stupid dumb ass time to be making an address just after the stupid markets open...

He could always make it of an evening if he didn't insist on going to bed so early.

I suppose night time addresses are restricted to announce invasions...

He might announce an across the board partial nationalization of the banks.

That will at least legitimize my avatar

[edit on 10-10-2008 by mattguy404]

All due respect, but your avatar scares the piss out of me.

Maybe it is because I grew up in the 80's during the cold war. The thought of the federal government controlling the entire banking system and all of the money is nauseating to put it mildly.

Somewhere Ronald Reagan is rolling over in his grave this morning.

So the prez is gonna come on 9:30am est, 6:30 west

Do i got that right it is 5 :46 right now.