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Economic Apocalypse USA, Day 3

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posted on Nov, 7 2008 @ 06:57 AM
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Fri 7 Nov 2008 | 7:52 EST, Good Morning NY!

Dear Diary,

Third day after elections is rising in NY and to Wall Street. Yesterday we saw growing storm in US Economics, what I have predicted too. No more "Boogiemans" saving US economy, and presidental candidates from difficult questions, like they show up all these recent weeks in final minutes of the days, and downfall in markets its real in US and in MSM too.

Today can be the worst market day in US history... Like both of the first days has been. I havent look any news from economical situation today, but GM, Ford and Chrysler was in the Capitol asking for aid... Does it help anymore? I know it wont... Today in Friday there comes many figures out firms and state, from growing jobless and losses, and more... Storm is about to get harder in time of Apocalypse!

So, this was the situation where I leave my post yesterday...

U.S. Stocks Tumble in Market's Worst Two-Day Slump Since 1987
www.bloomberg.com...

To Readers,

I want to make this on-line diary, so we all could remember the first moments of Apocalypse in USA. This is posted to you, my friends in ATS, so we could all follow together how this storm is taking its place in basics of US economics. I will report all day, so long as Dow is open, and let you know all the breaking news, and my thoughts from this mess.

This is Storm one of its kind. We can see it blowing only in our screens of computers, and just if we want it. If you are not working in those places, but maybe in your garden, you dont know anything about this life breaking hurricane, witch has come to front of us, and it will broke your dreams, and all future plans.

In Day 3 storm is still locked in the screens, people are in the way to their works, shops are opening, world is in its place. We are watching its first waves, and many still doesnt understand, how deeply it will affect and change everything in their lifes in coming days, weeks and months. Its still just gathering its force in Dow...

Look my previous posts from Economic Apocalypse USA.

Day 1: Predictions
www.abovetopsecret.com...

To predictions I have to set also my wait from coming new wars, WW3 and interventions all over the world. But when we talk about USA it self, and its daily life, your apocalypse is tied to economical break down. I dont wait any other attack to your country, but government "false flag" like 9-11 was, witch then will only deepens your sorrow, and helps this mess to grow, what really is their mean and part of Agenda to New World Order.

Day 2: Diary begins
www.abovetopsecret.com...

Diary gets its first begin and its end. Because its growing On-Line from my mind, and without any future planning, never know what kind of turnouts and motions it brings to the end of the day... And how Dow and headlines looks. I try to shape its model every day to better, and of course your good comments make it only that way.

- I really enjoy and hope your comments in to this threat!


Finally my message to Mods of ATS,

This Diary is for entertainment, but for making history book from headlines and news, as fast as those pomp up to the public. We can all enjoy the links in future, that is posted, and also this the way, how I will not terrorize all day the section of "breaking news" with my findings.

I decide to continue this On-Line diary because its important to remember the headlines and movings of the moments, so we can all then make the "big picture" when its necessary... Like one of the news in Bloomberg, where "all bankers get out from Wall Street without sanctions" was out only 2-4 minutes out in their site, before it dissapear from headlines. But we get that link to here! ... We remember. Thanks from your understanding and support!

EDITED: Fri 7 Nov 2008 | 10:58 EST - I am lightened... So "Global Meltdown" Forum havent anything to do with Al Gore after all!


[edit on 7-11-2008 by JanusFIN]

[edit on 7-11-2008 by JanusFIN]




posted on Nov, 7 2008 @ 07:13 AM
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I will follow your thread again today.

I have heard twice this morning on CNBC that this crisis is nothing like we have witnessed in the path. "Things have ground to a halt" was the term one economist just said on CNBC.

I started a thread a few months ago concerning the consumer/retail economy knowing that this holiday season would be one of the worst on record.

My spirit is uneasy. I may move soon towards BC.....the mountains.



posted on Nov, 7 2008 @ 07:34 AM
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Job losses down. Way down.

CNBC October non farm payrolls down 240,000.

October unemployment rate 6.5%.

Aug and Sept are much, much worse then reported earlier. What, someone lied?

Rise in the unemploted by 600,000....according to CNBC at 7:33 Saskatchewan time.



posted on Nov, 7 2008 @ 07:42 AM
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Ok, its still more than hour when "the bell" of storm will ring in DOW, so lets look to the headlines to this day!

Still confusing and also waiting, but signs of better hope has also rised up from the ruins. Europe has not fallen today, because of rate cuts made by federal banks... But does that save the markets today in US?

Wall Street On Edge Friday Morning Ahead of Pivotal Jobs Report


(RTTNews) - US stocks were poised to end a dismal week on a relatively high note Friday morning, but Wall Street remained nervous ahead the pivotal monthly jobs report.

Stocks sold off at an alarming rate on Wednesday and Thursday following another round of disappointing economic reports and significant reductions in same store sales at many major retailers.

www.rttnews.com...

Barclays Capital: More Bad Unemployment News


(RTTNews) - U.S. labor market conditions are likely to continue deteriorating in October, with nonfarm payroll employment declining by 175,000. The nearly two-month-old strike by Boeing machinists should subtract more than 25,000 jobs from the official payroll count, predict the analysts at Barclays Capital.

www.rttnews.com...

Jobs Report Expected to be Grim


Losses should continue in manufacturing, construction, and financial services, and have begun to spread to other sectors. The source of the job movements will indicate whether consumer spending power will be affected: if gains are concentrated in retail, leisure and hospitality and “other” services, total wage income – about 40% off all income – will suffer.

www.foxbusiness.com...

Ford Posts 3Q Loss, More Job Cuts


Ford Motor Co. says it lost $129 million in the third quarter as the struggling automaker burned up $7.7 billion in cash. The automaker also said Friday it will cut another 10% of its North American salaried work force costs as it tries to weather the worst economic downturn in decades.

www.foxbusiness.com...

GMAC Leaves Individuals With $15 Billion of Car Lender's Junk


Nov. 7 (Bloomberg) -- GMAC LLC may leave thousands of individuals on the hook for about $15 billion of junk-rated debt unless the auto and home lender finds a way to pay its bills.

www.bloomberg.com...

Chrysler cash drains away as crisis deepens: sources


DETROIT (Reuters) - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.

www.reuters.com...

Poor gasoline demand will see refiners cut, close


LONDON (Reuters) - A golden age of profits for western oil refining companies has ended and many are likely to face cutbacks and even possible closures, analysts said on Friday.

www.reuters.com...

States face unemployment cash crisis


NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses.

money.cnn.com...

Ok! Here you can see the feelings before, and when we are heading to Day 3. "Not very rosy picture, uh?" I dont know where the positive thinking has come to heads of boys in Dow... But futures are up 100p before the bell!!!

Is "Boogieman" back in the house? That mystery man who can save the markets from storm...



posted on Nov, 7 2008 @ 07:46 AM
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reply to post by whiteraven
 


Thanks from your information! Someone also yesterday raised this same question, "can you trust to the government reports?"

I think we just get the answer from you.

I starred... Thanks from support, lets see where this Diary is leading today.

EDIT:

Just get news from report too...

October job losses worse than feared


WASHINGTON (Reuters) - Employers cut payrolls by 240,000 in October, much more severely than expected, while September registered the biggest monthly loss in jobs in nearly seven years, according to a government report on Friday that showed labor markets were sharply deteriorating.

www.reuters.com...

I think this just wash away the optimism from futures in Dow for this day...
But its still 45 min to the bell.

Before the bell I will go check out the blogs for today...


[edit on 7-11-2008 by JanusFIN]



posted on Nov, 7 2008 @ 07:57 AM
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Originally posted by JanusFIN

but I suggest you will soon open a new forum for this economical crash to ATS.



Global Meltdown forum, dude. It has been here for awhile.



posted on Nov, 7 2008 @ 07:58 AM
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These threads have been both informative and entertaining.

Please keep the great work coming!



posted on Nov, 7 2008 @ 07:58 AM
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Originally posted by JanusFIN

Thanks from your information! Someone also yesterday raised this same question, "can you trust to the government reports?"


No you cannot. They use a trick of understating the negtive news then "revising" the report some time later. Take a look at the September job numbers.



posted on Nov, 7 2008 @ 08:14 AM
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S and P future down 3.6...no now up ........toooo...4.8 DJ future down now up 32 and Naz is up....

Oil down again....Brent crude up....

Up/down/up/down.....

What does this mean?

How do markets interpret the state of the economy with such wild flux?

16 minutes to open.



posted on Nov, 7 2008 @ 08:16 AM
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- Funny! Jim Kirwan puts his time counting same as mine...

Day One


The first twenty-four hours are now history, and the first indications are that there are surprises waiting for those that 'believed,' perhaps too soon; in the literal application of Obama's implied promises for real change that already seems to be imperiled. The message from around the world lies in the hope that Obama will begin to encourage peace and end the foreign policies that have destabilized so much of the world today. Here are some excerpts from a round-table discussion on Democracy Now this morning.

www.rense.com...

- And this Guru see what I see... So, am I "guru" now too?


Swiss Finance Guru sees bankruptcy for the U.S


Swiss financial guru Marc Faber tells swissinfo he sees hard times ahead for the world's stock exchanges and even state bankruptcy for the United States.

www.macedoniaonline.eu...

- But somewhere money is still flooding from windows and doors...

China can minimize negative external economic impact


According to Han, although gross domestic product (GDP) growth slowed to the single-digit rate of 9.9 percent in the first three quarters of this year, that was still more than the average for each of the past 30 years. The rate partly reflected the government's macro-control efforts, which emphasized maintaining growth while curbing inflation.


- And last, most interesting little clip from index site of Counterpunch... Are you ready to give this man a "sorry", when US Imperium is on Apocalypse Now?

Greenspan’s Confession


For his 20-year stretch as Fed chairman, they all fawned on him – presidents, Congress, the press. Only a handful of left economists said he was pushing the economy over the cliff. Now Greenspan admits it in a humiliating confession. As the world’s financial structure tumbles in ruins, guess what? “I found a flaw in the model… To the extent that I figure out where it happened and why, I will change my views.”

www.counterpunch.org...

After reading blogs, it came to my mind that most of the people who looks the happenings, writes to the web, they know... No painted eyeglass, no more. They just know where we are heading now!



posted on Nov, 7 2008 @ 08:19 AM
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GM sales down 45 percent year to year!!

When I leave to mingle with other persons here in Saskatchewan they are completely clueless. I want to yell at them WAKE UP.

Most DO NOT EVEN know that the Big Three are in trouble.

I told a guy that GM and Chrysler are speaking of merging and he LAUGHED...asking me what kind of drugs I was on??

I spoke to a senior manager at a company I contract with telling him that CISCO is in trouble....trades at a all time low.

His comment...." Yea. well, i hope the Riders win this weekend...??!!" WTF

(Riders are a local football team..CFL)



posted on Nov, 7 2008 @ 08:21 AM
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reply to post by Mainer
 


Global Meltdown! So it was economy. I open this threat there yesterday, without thinking it at all... But you know what... I start to think, and after that I asked Mods to move this to Skunk Works... Now I understand that, but I thought it had something to do with weather change... global cooling, or warming, or what ever... you know! Its so easy to confuse in these different terms from same issues... Or then I am just stupid, like I am.



posted on Nov, 7 2008 @ 08:31 AM
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Dear Diary,

Ive just seen headlines and blogs from morning of day 3.

Doesnt look good, all I can say. I think we need more statistics what to follow here, like announced job cuts and losses. Like in the war there are statistics from fallen comrades and aeroplanes... It could make this following more interresting. Also bancrupts and homeless are interresting figures in the battle of Economic warfare... I have to think this again.

But here is our official weather counters to the begin of day 3.

LIVE FROM "BOYS IN DOW!"
Proudly presents,
Ending numbers in day 2.

Fri 7 Nov 2008 | 9:22 EST
DJIA 8,695.79 -443.48
Nasdaq 1,608.70 -72.94
S&P 500 904.88 -47.89

BRENT CRUDE $57.39 $-0.04
MINI GOLD $735.20 $2.80
MINI SILVER $9.98 $-0.09

- Bell is about to ring!


EDIT

And it rings... Up We Go!
DJIA 8795.51 +99.72 +1.15

US STOCKS-Market set to open flat after jobs data


U.S. stocks headed for a flat to slightly higher open on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, offsetting a bleak report on unemployment.

www.reuters.com...



[edit on 7-11-2008 by JanusFIN]



posted on Nov, 7 2008 @ 08:36 AM
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Are you prepared for the ultimate Orwelian.

DowJones, markets all do well while we have persons losing job, homes, family, losing hope.

Meanwhile the markets do very well.

LOL



posted on Nov, 7 2008 @ 08:39 AM
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So why is this day three of the Armageddon and not say day 50 something. Since this all started with stocks dropping from the 11,000 mark to 9,000 pretty percipitously. Actually whose to say it didn't start a year ago when the market inflated so much it was at 14,000 and has been dropping or plateuing ever since. From late may to mid july it dropped well over 1,000 points. And it's been almost 6,000 points we have lost in total over the year.



posted on Nov, 7 2008 @ 08:42 AM
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The day three would be in step with something that took place three days ago.

Any ideas of what took place?!?!





[edit on 7-11-2008 by whiteraven]



posted on Nov, 7 2008 @ 08:47 AM
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Yeah and too bad it was this Republican administration that caused this. Remember how Clinton caused 9/11? Good thing this happened while it was still on Bush's watch. Republicans are gonna need a eisenhower or new reagan to get back in power and I just don't see it. Esepcially with this years nominees and Sexy Sarah Baracuda.

There's obviously complete and utter flaws in how Republicans govern, they're good at Campaigning(except this year) but Governing they're absolutely abhorrent. What was it in 1992 that helped Clinton especially. Oh yeah 'it's the economy stupid'. Republicans better trim some fat or they're gonna be down for the count longer than the democrats were these almost 2 decades.



posted on Nov, 7 2008 @ 08:53 AM
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reply to post by djpaec
 


I think this is question what I have to answer thousand times if I continue this diary on ATS... I try to make some default answer, that I can copy/paste to these questions... I dont mean its bad question!

First Day of Economic Apocalypse USA was day after elections. Why? You are maybe asking, and thats because it was bankers and corporation, witch paid the whole party! They have give faulse information from real situation in US economy, because the "Obama-Mania Script" didnt include any questions, what they didnt want to put there.

Now the theathre is over, and even if they want, they cant hide the truth no longer, and its not necessary either. No more last 30 min pomp-ups in dow before closing times, weekends or "big days" ... Yes, stocks has fallen, but now there is nobody to stop that anymore.

Where you think they have use the money from bail-outs? i think there you can seek after that "boogieman" behind the destortion of the markets.

Anyway. Apocalypse starts when it comes real, and day after election it came. Its here, and now its 3rd day on its way... Did I reply the question? I hope so, because I am so interested what our "Boys In Dow" are doing after opening bell... Important still to answer these questions indeed, but now heading back to weather room, and to market headlines... Out to the storm!



posted on Nov, 7 2008 @ 09:05 AM
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Originally posted by JanusFIN
reply to post by djpaec
 


I think this is question what I have to answer thousand times if I continue this diary on ATS... I try to make some default answer, that I can copy/paste to these questions... I dont mean its bad question!

First Day of Economic Apocalypse USA was day after elections.


Dow 4,000 by Christmas?

I don't mean to start Friday off on a negative note, but whenever I see things beginning to 'line up' in 5the headlines, the chatter in the emails, plus what's coming in the predictive linguistics from HalfPastHuman, I start to become very uneasy and conservative in all investment decisions. Particularly if these things all come together on a day when I have been gaming out my next foray into the commodities market with my broker JB.
www.urbansurvival.com...
I am more likely to believe the web bot guys. above. From what I have gathered from their postings about the Oct.7th to know explains allot of things. I see that Nov. 13-15th will be a time for us to look at what the PTB are up too, maybe even a global currency?.



posted on Nov, 7 2008 @ 09:35 AM
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reply to post by zman
 


Yeah, interesting points you make.

But over all, stock markets are just a game above the real life situation, and we will come too much blinded, if we just keep following Dow and numbers, and make our opinions from those. Dow is too virtual to show any real things... And can be distorted with capital.

Like money can tarnsfer in microsecond from continental to another, markets can moves as quick also, without notice or real cause.

More important than this "Concert In Wallstreet" what we can listen with numbers of Dow, is the news from jobcuts, factory closings, down writings, house sell offs, bankrupts... wich causes then many dramatic events like strikes, or civil unrest. There these invisible numbers comes to real life happenings...

Dow is one interesting forecast to follow, but we have to look the clouds, to people and firms, and there we see that great Apocalyptical moves in real time action.

- But, back to forecasts, and first hour is almost up!

Fri 7 Nov 2008 | 10:26 EST
DJIA 8,888.78 +192.99

"Woh!" Looks like boys have get much optimism to their deals... Just wondering from where? But, lets look what this day will bring us to the end. And remember, that after 1000 down, 200 up is probably just some fixings from yesterdays shockwaves... Natural repairs from too urgent deals.



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