It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The EURUSD as expected, is now in free fall mode, following a plethora of statement out of place, after coming ECB head Draghi says the bank in Europe have a liquidity crisis, the Finland FinMin has said he does not want an expansion of the EFSF nor does he expect a solution on the collateral "row", saying a Deal on EFSF Collateral is uncertain, and lastly, Spain's Salgado has said there is no need of "quantitative amplification" of the EFSF. In other words, with the EFSF leverage meeting imminent, it appears that pretty much nobody aside from France, and some Econ PhDs, are banging the table on using a 10x expansion, knowing all too well that just as Nomura explained last night, such a move is equivalent to money printing and invites nothing short of hyperinflation if and when it all goes wrong.
The failure to regulate financial markets has produced enormous losses to all Americans except the super-rich. But the U.S. government is guilty of an even greater failure. Washington has not only permitted but also encouraged the unemployment of its citizens by enabling greed-driven corporations to send American jobs abroad in order to maximize profits for CEOs’ bonuses, shareholders, and Wall Street.
U.S. stocks fell Monday, unable to hold on gains briefly recorded in choppy trading after a report showing slightly stronger U.S. manufacturing activity, on worries that Greece would fail to get its next round of bailout aid on time, bringing the country closer to default.
Worries over a possible sovereign debt default in Europe, which could avalanche into major losses among banks and a sharp contraction in lending, have rattled global stock markets for the last several months.
“Investors appear to be mired in the middle of a wall of worry, concerned about the political situation in Washington, the ongoing high unemployment rate of the economy, the European debt situation, and the failure of the housing market to stabilize,” wrote Fred Dickson, chief investment strategist at Davidson Cos
Originally posted by SpaceMonkeys
reply to post by mossme89
I think theres a good chance of a bounce tomorrow. But the next big leg down will happen soon.
Eurozone finance ministers have delayed making a decision on giving Greece its next instalment of bailout cash, sending European shares down sharply.
It came after Greece said it would not meet this year's deficit cutting plan.
A meeting set for 13 October, when finance ministers had been expected to sign off the next Greek loan, has now been cancelled, says BBC Europe correspondent Chris Morris.
French shares fell 3.3%, German stocks by 3.2%, and the UK's FTSE by 2.4%.
Fake Plastic Rice from China
According to the Korean-language “Weekly Hong Kong” (which many Vietnam websites are referencing as well), Singapore media claim that fake rice is being distributed in the Chinese town of Taiyuan, in Shaanxi province. This “rice” is a mix of potatoes, sweet potatoes, and plastic. It is formed by mixing the potatoes and sweet potatoes into the shape of rice grains, then adding industrial synthetic resins. Since the rice does not behave like normal rice, it stays hard even after it has been cooked. Such synthetic resins can also be very harmful if consumed.