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Market Insider: Wall Street Braces for Ugly Friday

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posted on Mar, 6 2009 @ 12:33 AM
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The configuration of circumstances, as they stand now, are giving a bit of confidence to some market analysts to issue warning advisory for tomorrow's trading session.


Let's face it. Nothing about Friday's employment report will be pretty, and the 7 percent decline in stocks this week has been signaling that.

www.cnbc.com...

One of the Wall St. meteorologists makes an interesting comparison.


"Something's got to give," said M.F. Global John Kilduff. "Either the stock market is the buy of the century, or oil is going to $20. You can't have $45 oil and a 6,500 Dow."


If he is right about the disproportion between oil and stock and the price of oil happens to be a better indicator of the state of the economy these days, tomorrow's trading session may not be as bad as being braced for and may even start a little upward movement -- depending on how many newsletters John Kilduff sends out. Could it be that tomorrow will be the day when the market bottoms out?




posted on Mar, 6 2009 @ 01:18 AM
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reply to post by stander
 


Why do you think they are still calling it a "recession" and not a "depression"? Is there a technical line that has not been crossed yet or is it more from fear to what it could to psychologically to people?
Like "if you don't call it that then it's not really there"?

I don't know a whole lot about economics but I don't understand why they just don't call it what it is.



posted on Mar, 6 2009 @ 01:59 AM
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Originally posted by haika

Why do you think they are still calling it a "recession" and not a "depression"? Is there a technical line that has not been crossed yet or is it more from fear to what it could to psychologically to people?
Like "if you don't call it that then it's not really there"?

I don't know a whole lot about economics but I don't understand why they just don't call it what it is.


Yep...its to keep the masses from going into a panic..which is what would happen if it is oficially stated.

So the "line" is constantly moved further and further back so they can say and show that the economy has not gone byond that line into the depression zone.

Its no different from covering one sign with another. False premise to keep a flase sense of security.


Cheers!!!!



posted on Mar, 6 2009 @ 02:13 AM
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maybe if we just bend over and grab our ankles, the storm wont be so bad.

We are doomed. Ima start sharpening my tools.



posted on Mar, 6 2009 @ 03:34 AM
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The stock market will move up again, probably pretty strongly, before plowing downward towards a "floor". Why? Just the way it is as so much of the trading is done via computer programs with buy and sell orders programmed in based on historical floors and ceilings. There will be a bounce up in the market, maybe up 15-20%. Don't look for a ration reason....just the way it is.



posted on Mar, 6 2009 @ 03:43 AM
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0 is bottom, it is just a question of how long it takes to get there, lol.

Of course listen to those on cnbc, and there predictions or colbert. I remember colbert laughing his head of when dow was at record highs 18 months ago, lol. Now look where it is.



posted on Mar, 6 2009 @ 05:15 AM
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reply to post by RFBurns
 





Yep...its to keep the masses from going into a panic..which is what would happen if it is oficially stated.


It is not about masses going panic.
It is about THEM going panic



posted on Mar, 6 2009 @ 06:48 AM
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reply to post by haika
 

Here is an article on the subject-- one of the few -- written in normal (not plain) English.
finance.yahoo.com...

Among other thing, it includes a surprisingly simple formula to compute the rate that the economy is shrinking by.


But things can get a lot nastier without reaching a total Great Depression scenario where the economy shrinks by 25 percent and unemployment soars by 25 percent.


It kind of makes sense: if there is like 8% of the total work force unemployed, the economy shrinks by 8 percent as well, going from e c o n o m y to economy. The economists would put it in the not normal English this way: f(c) = -wtf where c denotes the economy contraction (pants shrinks, not economy) and wtf denotes people out of work in percent.

When economy shrinks, hospital mental wards hire doctors and therefore the unemployment can never reach 100%.



[edit on 3/6/2009 by stander]



posted on Mar, 6 2009 @ 06:52 AM
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One MSM analyst slipped up and called it a depression on the Today Show, about 45 minutes ago. Paraphrasing, she said:

"Unemployment since the depression...since the recession -- I just blew all of that! Unemployment has gone up by (x-number)"

Previously, she had been assuring us that things weren't that bad.

I laughed and cried, all at the same time.



posted on Mar, 6 2009 @ 07:00 AM
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I'm going to quote redhatty from another thread:

"Technically, a recession is a drop in GDP for at least 2 quarters. According to this article, we've been in one since December 2007 - 15 months or 5 quarters.

According to Wikipedia, a depression is characterized by abnormal increases in unemployment, restriction of credit, shrinking output and investment, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile relative currency value fluctuations, mostly devaluations."



posted on Mar, 6 2009 @ 07:14 AM
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Well, considering that the only reason there haven't been mass bankruptcies is government intervention via bail outs, loans and otherwise flinging wads of cash at failing business and industry, the only thing we're really missing is crazy fluctuations in the value of currency.

Given historic guidelines, is that the next anvil before it is called for what it is?

I think we're all deluding ourselves, fed mainly from what the mainstream media puts on our plates, to keep the world from complete, utter and dire economic collapse.

As an aside, I was listening to a news broadcast yesterday that discussed the ongoing mess in the automotive sector . . . the blabbering moron who was being interviewed said the resolve to the problem was simple . . . people need to buy more cars.

With friggin' WHAT . . . buttons and pencil erasers?

The economists, financial gurus, beaurocrats and elected officials around the world are so far out of touch with what is going on at street level, they really believe their drivel which, to me, is part of the problem . . . they're the emporers marching down the streets, doodles to the wind, thinkin' they're all that and a bag of chips in their spiffy new clothes.

Go figure.



posted on Mar, 6 2009 @ 07:32 AM
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Originally posted by GoalPoster
As an aside, I was listening to a news broadcast yesterday that discussed the ongoing mess in the automotive sector . . . the blabbering moron who was being interviewed said the resolve to the problem was simple . . . people need to buy more cars.

With friggin' WHAT . . . buttons and pencil erasers?


You get a star for that one. I just laughed from a good, healthy place.


I would love to go out and buy a car, and a house, and get a loan to start a business. That doesn't mean that I have any ability to actually do any of those things.



posted on Mar, 6 2009 @ 03:22 PM
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Once again, the Dow crushed silly those market analysts who advised the investors to brace for today: the Dow left for the weekend in a green dress. To add insult to injury, the stocks rallied in the last 30 minutes acting on the consumer report that was supposed to show dismal figures and drive the Dow lower. But the consumer report said that consumer spending reversed and rose by one percent. So much for insider info . . .

So if consumer spending showed a gain, the recession/depression/whatever-they-call-it is over, coz people started to spend again right?

Wrong. The spending was due to the folks buying riffles, camping equipment, and canned food to prepare for the economic apocalypse. Don't the market analysts read ATS?



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