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Tomorrow the Dow below 7000 for the first time since April of 1997

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posted on Mar, 1 2009 @ 11:23 PM
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As of this hour, 12:19 am EST Dow futures indicate an open of 6964.

www.cnbc.com...

The last time the Dow closed below the 7000 level was April 29, 1997. Thats right people, thats 11 years, 10 months, and 2 days ago. Its been a nice run for America, I guess its time to learn Chinese.




posted on Mar, 1 2009 @ 11:40 PM
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Talk about a lost decade huh?

At this rate it would be more like 2 decades...what we've already lost and how long it will take to get back that high, if, it doesn't blow up soon, as most suspect...


The Official "up-to-the-minute Market Data" thread
www.abovetopsecret.com...



posted on Mar, 1 2009 @ 11:57 PM
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Wow, it's amazing, but what goes up must come down, great old cliche.

Recently the dow has been playing games, were it starts out the first few hours up some large amount, then a few hours before closing time it's down roughly 100 points...

1000 points down since obama got elected, just keeping score, just keeping score.



posted on Mar, 2 2009 @ 12:00 AM
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I've been predicting, term used very loosely, that when the DOW slips below 7k we'll see another huge sell off. We still haven't found the bottom yet and I think breaking this barrier will trigger another sell off. Things are looking too good for Asian markets as well right now. Futures -106.00 at 1am eastern.

Keep your eye on the S&P as well.



posted on Mar, 2 2009 @ 12:01 AM
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It is all market manipulation, they put things in and take things out, but the ones making all the moves are the ones who are going to make the killing in the end.
It doesn't matter if the market closes 2,000 points stronger, when the time is right, it will drop quicker than Bush's approval rating.



posted on Mar, 2 2009 @ 12:05 AM
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Originally posted by Republican08
Wow, it's amazing, but what goes up must come down, great old cliche.

Recently the dow has been playing games, were it starts out the first few hours up some large amount, then a few hours before closing time it's down roughly 100 points...

1000 points down since obama got elected, just keeping score, just keeping score.


No what goes up does not always need to come down. The so-called "business cycle" is a scam, this is all created by the central banking system. The Federal Reserve and other central banks of the world are now doing things like contracting the money supply on purpose.

Check out this documentary called The Money Masters if you haven't seen it... it explains everything...

video.google.com...



posted on Mar, 2 2009 @ 12:12 AM
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Originally posted by Diplomat

Originally posted by Republican08
Wow, it's amazing, but what goes up must come down, great old cliche.

Recently the dow has been playing games, were it starts out the first few hours up some large amount, then a few hours before closing time it's down roughly 100 points...

1000 points down since obama got elected, just keeping score, just keeping score.


No what goes up does not always need to come down. The so-called "business cycle" is a scam, this is all created by the central banking system. The Federal Reserve and other central banks of the world are now doing things like contracting the money supply on purpose.

Check out this documentary called The Money Masters if you haven't seen it... it explains everything...

video.google.com...





I know what goes up doesn't always come down, (Thanks Isaac Newton) but in this case it had gone up and is going down. I posted elsewhere about the severe irresponsiblity on behalf of the banking financing institutions the whole thing is a scam thats gone on for farrrr farrr to long.

[edit on 2-3-2009 by Republican08]



posted on Mar, 2 2009 @ 12:21 AM
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Hi you all,

HSBC trade are suspended in Asia. The SHTF for them.

Are they cooked ? Stock was over 80 end of sept. now around 35.00.

HSBC is the largest bank in UK, and without error the world second largest. They never seek money from UK, always refuse any help from the government. UK are so in trouble with LLoyds, Hbo, Rbs.

HSBC are so huge, their exposition to derivative was about 8 times net assets in september last year. If they crash, it's gonna be a freaking supernova.



BTW our cryptic friend r' suggest some bank moves at noon. Massive sell off ?

Dow at 7000, will mean action, since it could be the cue to move out the game.



posted on Mar, 2 2009 @ 07:29 AM
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Adjusting for inflation, we're actually at the lowest point since 94/95 or so. Also, for the people who want to point a finger at Obama, this downturn actually began in 1999 or so, and was interrupted by a massive credit bubble. That's not to say that Obama isn't doing things that won't work; but rather that this is largely a result of our borrow-and-spend culture.

See the inflation-adjusted DJIA here:


It looks like the support is at 4000, so we've still got about 3000 points to go.

[edit on 2-3-2009 by theWCH]



posted on Mar, 2 2009 @ 10:11 AM
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At the moment, the DJ is at 6897...

Seems that the forecast is correct.

As long as the banks are not wiped or are not nationalized, it will continue. I d go for a nationalization since only the States can absorb their enormous debts.

Which means that happy taxpayers like you and me will pay the bill.

It s forced socialization, we re becoming socialist no matter if we want it or not. Who is responsible?

- for a small part , the borrowers who have been lurred for decades by advertising, hollywood industry that a "bold and beautiful" life is possible for every John Doe,
- for a large part, the banks when they loaned to everyone knowing the borrowers were not able to pay back and exploited John Doe's weakness and naivety.

That s a crime.

For this reason, I suggest the banks management is to be kicked out without any compensation, indemnity, and new staff is hired in the nationalized bank. With high salary to attract smart people but ultra strict control.

[edit on 2-3-2009 by seb118]



posted on Mar, 2 2009 @ 10:53 AM
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Originally posted by seb118

...new staff is hired in the nationalized bank. With high salary to attract smart people but ultra strict control.



At my moment it stands at 6,845.41, and I think with respect to the above statement, I couldn't disagree more. I think perhaps LESS intelligent people should be attracted to head up these institutions to prevent the ability that a "smart well-paid" friggin set of Bank Executives won't even have a modicum of understanding on exactly how to screw US, JOHN DOE, out of meager earnings with not a shred of human decency. When it comes to Government/Banks/Finance, there is absolutely no way to ensure OR any FORM of "strict control". Were there, it would ALREADY be so indelibly etched into our system that this never could have happened in the first place.


AB1



posted on Mar, 2 2009 @ 11:24 AM
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I knew this was coming.
Why can't they just let it all fall.They seem to be dragging out the inevitable.
I know the greedy jerks want to make more money but why even bother when in the end they won't have squat either.
The day is going to come when they will have to be held accountable.
I would like to see them all strung up and hanging from the lightposts.



posted on Mar, 2 2009 @ 11:25 AM
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Originally posted by seb118
At the moment, the DJ is at 6897...

Seems that the forecast is correct.

As long as the banks are not wiped or are not nationalized, it will continue. I d go for a nationalization since only the States can absorb their enormous debts.

Which means that happy taxpayers like you and me will pay the bill.

It s forced socialization, we re becoming socialist no matter if we want it or not. Who is responsible?

- for a small part , the borrowers who have been lurred for decades by advertising, hollywood industry that a "bold and beautiful" life is possible for every John Doe,
- for a large part, the banks when they loaned to everyone knowing the borrowers were not able to pay back and exploited John Doe's weakness and naivety.

That s a crime.

For this reason, I suggest the banks management is to be kicked out without any compensation, indemnity, and new staff is hired in the nationalized bank. With high salary to attract smart people but ultra strict control.

[edit on 2-3-2009 by seb118]


Please don't forget the Gov't morons (probably who got thru the revolving door to the private sector) who threatened these banks to extent the mortgages to lower "classes/incomes" of borrowers.......to keep the debt game going

please guys don't get overwhelmed/OCD with all these happenings.....i recently had to take a break (and am spending less time with this stuff ) to really ENJOY LIFE while I still CAN....things are going to either get very bad (i.e 1930's ish) or worse (fall of soviet union) Now is a good time to put things in perspective

[edit on 2-3-2009 by cpdaman]



posted on Mar, 2 2009 @ 11:31 AM
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After you learn about this... CAFR

You realize... between the Government(s) and the Central Banks, this is all controlled and manipulated in very fine detail. Reinhardt was right this is all timed.

The end game has been shown to us, that is a complete and controlled economic collapse. The desired result is stronger global fascism. All we can do is brace ourselves and hope that enough to people are awake to not allow for the NWO's desired outcome.



posted on Mar, 2 2009 @ 11:47 AM
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With the dow at the 6830 at 12:35 PM on 3/2/2009, we can assume the bear market hunters are still pushing down the market. I have been watching this for over a year now, and in relation to price of the dollar vs foreign currencies by the current administration would be an understatement. I predict the dow will continue to spiral downward, however, its the S&P that I am worried about. If the S&P goes to 600 or around there, the US economy has tanked. That will be the bottom. I also think the terminology of the media will change to Depression instead of extreme recession, which is what they are saying. The price of the dollar has been creeping up over the past couple of trade days, however, with Hillary sticking her nose into Asia and Europe, there have been massive sell-offs. Are you starting to see a trend here...



posted on Mar, 2 2009 @ 11:54 AM
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As I predicted on Nov 7 2008
www.abovetopsecret.com...
the market will bottom at 5920. Following this, the depression will take three years to form worldwide, with continuing unemployment downward spirals, if it matches the previous depression (apparently going that way so far).

This is the lightning before the thunder.

Don't worry so much. When you see 10% unemployment, think 90% employment. Don't let the media and ATS ruin your workday.

The only way we're going to rise out of this is through great salesmen and saleswomen. They are the initiators of the movements of goods and services. They are the heroes of this day and age.



posted on Mar, 2 2009 @ 11:57 AM
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Originally posted by alphabetaone

Originally posted by seb118

...new staff is hired in the nationalized bank. With high salary to attract smart people but ultra strict control.



At my moment it stands at 6,845.41, and I think with respect to the above statement, I couldn't disagree more. I think perhaps LESS intelligent people should be attracted to head up these institutions to prevent the ability that a "smart well-paid" friggin set of Bank Executives won't even have a modicum of understanding on exactly how to screw US, JOHN DOE, out of meager earnings with not a shred of human decency. When it comes to Government/Banks/Finance, there is absolutely no way to ensure OR any FORM of "strict control". Were there, it would ALREADY be so indelibly etched into our system that this never could have happened in the first place.


AB1


Well I have to say that I agree. Smart enough to be efficient, hard working, serious and with a high moral sense. Definitely not smart like the ones who screwed us all. This was what I had in mind.

now 6815...

It is sad that 20 years after the USSR, the USA will undergo a major disaster. THe USSR turned capitalist with pain, and now the USA will turn socialist by necessity with as much pain or even more.



posted on Mar, 2 2009 @ 12:23 PM
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Originally posted by Jim Scott
As I predicted on Nov 7 2008
www.abovetopsecret.com...
the market will bottom at 5920. Following this, the depression will take three years to form worldwide, with continuing unemployment downward spirals, if it matches the previous depression (apparently going that way so far).

This is the lightning before the thunder.

Don't worry so much. When you see 10% unemployment, think 90% employment. Don't let the media and ATS ruin your workday.

The only way we're going to rise out of this is through great salesmen and saleswomen. They are the initiators of the movements of goods and services. They are the heroes of this day and age.



Not bad JS, your insights are appearing ... um well-insightful!

LOL


I like the 90% employment!

A factor in all this is fear, fear is gripping us tightly. Our monkey ability to see patterns has us thinking there is a lion in the grass when perhaps its just grass and shadows...



posted on Mar, 2 2009 @ 12:26 PM
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Where do you guys think the bottom is roughly? and when will it get there



How much worse will it get before it really stabilizes or begins to recover?



posted on Mar, 2 2009 @ 12:35 PM
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Originally posted by seb118
It is sad that 20 years after the USSR, the USA will undergo a major disaster. THe USSR turned capitalist with pain, and now the USA will turn socialist by necessity with as much pain or even more.


The best solution is refusing to let it go socialist. Nothing good can come from the US going socialist. The Social Security system is a prime example of just how horrible the system would be if we went socialist. The government would see a huge pile of money for a program and would raid it, placing in there and IOU, and then they'd never be able to put the money back. The day that Social Security fails (it'll happen sooner rather than later) will be an indication to everyone of just how capable socialism is in the hands of our government.

The true solution would have been to let the companies that made all the poor decisions, fail. They should have crumbled. GM, Fannie/Freddie Mac, AIG, Bank of America, Chrysler, J.P. Morgan / Chase, and all the others that made the poor choices. If we'd have let them collapse, we'd already have had people stepping forward purchasing up the bits that were worthwhile and the system would begin moving again. Due to government intervention, we're being dragged through this anyway, but at taxpayer expense. We've put sums of money into these firms that just plain hurt. Sums of money they'll never repay us (plus interest of course) and we'll all be out all of that money because the idiots in government think that shoveling money onto a fire will put the thing out.

We need to imprison all of the people in Washington D.C. responsible for this with life sentences without the possibility of parole for the crime of treason. Doing something intentionally knowing the outcome will lead to the collapse of the United States, is treason. Everyone will walk away free. We'll be left with a collapsed system, and someone will come forward and tell us how they'll solve all of our problems because they are going to take 63% of our paychecks in order to pay for all of these "free" programs we're going to be told we have to use. I hope that person, whomever it is, gets struck by lightning while saying that crap for all the world to see.




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