U.S. has plundered world wealth with dlr -China paper

Originally posted by BluegrassRevolutionary
I didn't think so. We may just see a huge sell of in the beginning accompanied by a quick recovery and close out the day at 8100 or something.

What exactly is causing today's outlook? Is it the topic of this thread? Or something else?

I think a huge selloff is a definite as things look now, though I'm not sure about recovery. As mentioned above, the Yen strengthening like it is will cause hedges to liquidate like crazy. Between the Asian & Euro markets, expect additional panic selling on the American markets as well.

As to what's causing it...I can't be sure. I don't know that it's one specific event; it seems like a combination of bad news that's come in the past 12ish hours - Russia getting downgraded, various earnings reports, Britain's GDP report, the Euro weakening like mad, Treasury delivery failures...all of it plus other bits and pieces here and there all together.
People/businesses/governments are moving their money from weaker currencies to comparatively stronger currencies such as the U$ and the Yen, which causes its own ripple effect.

It's kind of like a perfect storm of suck.

reply to post by anachryon


Don't forget the report that Taiwan has changed the rules to no longer deal with anything from the US that involves MBS

I think we are witnessing the rest of the world waking up to the fact that the US is bankrupt.

only thing left to totally send us into the crapper is to get the news that OPEC is going to use something OTHER than the USD for the purchase of oil.

That will be the final death blow

Europe is now at -7%...

You know what's funny?

The 1929 crash started on October 24 1929... MOUHAHAHAHHAH.

I think the Rothschild are playing a joke on us.

DOW futures now DOWN -538!!!! That's INSANE.

I think it's really time to panic.

[edit on 24-10-2008 by Vitchilo]

reply to post by Vitchilo


OMFG that Sh*t is just F8cked up

Just thinking about it make me want to go get more alcohol

And I don't usually drink alcohol - killed a 6 pack tonight though and - strangely I don't have a buzzz

Market instability is finally reaching it's peak

Waiting to see if the US markets even open

Originally posted by redhatty

only thing left to totally send us into the crapper is to get the news that OPEC is going to use something OTHER than the USD for the purchase of oil.

From what I have read, a proposal from Iraq to do the same thing caused Gulf War 2. I have no idea what a declaration like that from OPEC would cause...other than a complete US financial collapse. To my understanding, the US government would not let this happen using any and all measures at its disposal.

reply to post by BluegrassRevolutionary


except, the rest of the world is quite aware that we have nothing left to finance the "at our disposal" option

Don't think it can't happen

Originally posted by redhatty
Waiting to see if the US markets even open

A failure to open would be quite scary!!!!

I doubt it would ever happen, but who knows, we are in uncharted waters.

reply to post by BluegrassRevolutionary


It might have been true in the past, but now the US government is in another phase. The phase of collapsing the country.

The US is gonna collapse. On purpose.

Update: Dow futures down 550! Europe down 8%

[edit on 24-10-2008 by Vitchilo]

Originally posted by redhatty

except, the rest of the world is quite aware that we have nothing left to finance the "at our disposal" option

Don't think it can't happen

I don't know about that. We have plenty of "at our disposal" options that have been already purchased and are sitting in silos just waiting for the command. Not to mention all of the really scary stuff that have yet to be disclosed to the public.

I will put it to you this way; Which is worse, a lion with room to maneuver, or a lion in a corner????

reply to post by Vitchilo


You may be right, however, don't kid yourself, if we are going down, we will take many others with us. I am not saying I agree with this logic, just that it is prevalent in our government/military.

reply to post by BluegrassRevolutionary


The nuclear option reduces the use of US land for growing food for whoever wants this country

Don't think that we will go first strike, and most other countries want what resources we have - they WON'T pay farmers NOT TO GROW food

And don't think that we can't be invaded - look at the immigration problem - we already HAVE been invaded, we just don't see their weapons

Originally posted by redhatty
The nuclear option reduces the use of US land for growing food for whoever wants this country

The key would be to exercise this option against non-nuclear countries. Then, we split the "profits" or "gains" with the other nuclear superpowers.

The DOW futures are at their limit. They've reached 550 and can't go down further.

The break is ON.

So the market is not even open and already we have a STOP in transactions... HAHAHAHAHA.

Europe DOWN 8%...

[edit on 24-10-2008 by Vitchilo]

Originally posted by redhatty
And don't think that we can't be invaded - look at the immigration problem - we already HAVE been invaded, we just don't see their weapons

I would never say that we could not be invaded. What I will say is, attacking the most heavily armed general population in the world would be a huge mistake for any foreign power.

reply to post by Vitchilo


I didn't know the futures had a bottom.

Wow, the opening today will be very "interesting."

[edit on 24-10-2008 by BluegrassRevolutionary]

reply to post by BluegrassRevolutionary


Yeah me too. On CNBC, they are saying that is the biggest drop EVER. It's gonna be a day of historic proportion.

Europe down nearly 10% in some indexes!

[edit on 24-10-2008 by Vitchilo]

reply to post by BluegrassRevolutionary


IF

we even open

reply to post by redhatty


Do you really think they could fail to open the market???

IMO, that could add fuel to the panic fire.

However, if they planned to do things over the weekend to stabilize the situation I guess I could see it happening.

"after hours" trading is already suspended

YES...

It is very possible that the market is halted before it opens

All futures trading is halted until the markets open. It never happened before.

This is never before seen. I think we'll trading suspended in the first 10 minutes.

Seriously. This is really really really bad. IMO they will stop trading for a few hours then restart it... if it continues to drop... close for the day. Special mesures this week-end... and monday, if it continues to drop... we're farked.

[edit on 24-10-2008 by Vitchilo]