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U.S. stocks tank in worst streak since credit crisis, good job debt-deal!

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posted on Aug, 2 2011 @ 07:51 PM
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rt.com...


Phew! Thank God that that whole “debt ceiling” thing is over and America can go back to being a money-making powerhouse, right? Think again.



Following legislative and executive approval of a last-minute deal to save the US dollar from potentially defaulting, the Dow Jones Industrial Average still managed to plummet on Tuesday. When the markets closed this afternoon, the DJIA showed a drop in 265.87 points, or 2.19 percent.

That plunge puts the Dow below the 12,000 mark all the way at 11,866.62. When was the last time that happened? Way back in 2008.


www.marketwatch.com...


NEW YORK (MarketWatch) — U.S. stocks fell hard Tuesday, posting their longest losing streak since the heart of the 2008 credit crisis, on investor worries about upcoming federal deficit cuts and a likely stall in the recovery.


Okay, that's just the US stocks. Pretty good stuff right? The debt deal did wonders!

I wonder if this did anything else to other countries?

www.marketwatch.com...


SYDNEY (MarketWatch) -- Australian stocks opened sharply lower on Wednesday after U.S. stocks plunged on signs economic growth is slowing.


www.marketwatch.com...


LOS ANGELES (MarketWatch) -- Japanese stocks took a dive in the early minutes of Wednesday trading, tracking U.S. losses overnight on concern about global growth, with tech, auto and banking shares among the worst hit.


www.marketwatch.com...


SAN FRANCISCO (MarketWatch) — Canadian stocks fell 193 points Tuesday amid weak economic data in the United States, its biggest trade partner, where consumer spending fell for the first time in almost two years and manufacturing activity dropped to its lowest level in two years.


www.marketwatch.com...


LOS ANGELES (MarketWatch) -- Chinese credit-rating agency Dagong Global Credit Rating Co. again downgraded U.S. sovereign debt Wednesday and warned of further downgrades, the state-run Xinhua news agency reported.


All this is a good thing....right? I mean we just solved our debt issue, so we are in the clear now.....or am I missing something?
edit on 2-8-2011 by buni11687 because: (no reason given)


ETA - Asian stocks are tanking to

www.marketwatch.com...


The losses in Asia followed another sharp retreat for U.S. shares on Tuesday, with worries about the economy near the top of the agenda after the release of weak consumer spending data.

edit on 2-8-2011 by buni11687 because: (no reason given)




posted on Aug, 2 2011 @ 07:59 PM
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reply to post by buni11687
 


It's all for show mate. Behind the scenes, they are getting the new financial system in place.

The economy will keep going down and down and down until it crashes.



posted on Aug, 2 2011 @ 08:06 PM
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reply to post by galactictuan
 


Im beginning to feel that deep down inside.

I find this thing just so ironically funny. The debt talks were supposed to help save the economy....and now its not really doing the best...Going back to 2008 levels. Definantly one of the funniest things Ive seen all day.



posted on Aug, 2 2011 @ 08:11 PM
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reply to post by buni11687
 


Did I mention ET Disclosure is deeply connected with the financial crash?



posted on Aug, 2 2011 @ 08:12 PM
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Well, look at Greece.
they named it that for a reason...
the skids that is...

They were supposed to have been SAVED too...
and IREland..
one minute a roaring economy..
the next thing you know,
WOW,
You got bankers!
then pffffft...

Iceland seems to be doing OK....
They told the bankers to beat it...

go with what works



posted on Aug, 2 2011 @ 08:14 PM
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reply to post by galactictuan
 


Now that's what im talking about!


Hopefully ill still have a tv or internet to watch the disclosure on when the time comes!



posted on Aug, 2 2011 @ 08:14 PM
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What if it has leaked that the Super Congress is planing to do the right thing
and Wall Street is scared chitless.

?

David Grouchy



posted on Aug, 2 2011 @ 08:16 PM
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I think this debt deal is going to crash the markets in North America, either way it was since there is no way the US would have been able to pay it off, now we are just watching the beginnings of another recession.

I really don't know what to say, if they disallowed the debt deal to go through would things have been different?



posted on Aug, 2 2011 @ 08:24 PM
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Originally posted by hypr2011
I think this debt deal is going to crash the markets in North America, either way it was since there is no way the US would have been able to pay it off, now we are just watching the beginnings of another recession.

I really don't know what to say, if they disallowed the debt deal to go through would things have been different?


No, I do not believe things would have been different. I believe that they will create the new super six Dem's and Repubs group..keep tea partiers out of key decisions..and let Rome burn to keep control for both parties.

Then,after Rome burns some more,they'll say they HAVE to go to the new Amero to maintain the U.S. currency value.

Just a hunch. I wish and hope I'm wrong.



posted on Aug, 2 2011 @ 08:25 PM
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Seems counterintuitive for stocks to fall doesn't it? It's actually not.

A massive amount of money is moving or priming to move into US debt ... now that it's been approved.



posted on Aug, 2 2011 @ 08:27 PM
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illegal space aliens are the least of your worries now! Retaining or losing our "AAA" bond rating is completely up to the corrupt rating agencies( i.e. moody's and Standards&Poors)Congress didn't come forth with the immediate $4billion in cuts they were looking for. We still may lose our rating which means we became a riskier bet and interest rates are going up for every thing.

edit on 2-8-2011 by 46ACE because: (no reason given)



posted on Aug, 2 2011 @ 08:29 PM
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posted on Aug, 2 2011 @ 08:31 PM
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At least the government is still spending.

At least I still got a job........As well as thousands of other hard working individuals.......

It will pass.(debt paranoia/fear mongering)

Next week we will all be talking about Iran again


I just know that this will be such a popular post.....such a negative bunch on ATS these days


Clarification: I still have a job because of the tax payer funded construction projects. New highschools and such........
edit on 2-8-2011 by liejunkie01 because: Clarification



posted on Aug, 2 2011 @ 08:34 PM
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Originally posted by 46ACE
illegal space aliens are the least of your worries now! Retaining or losing our "AAA" bond rating is completely up to the corrupt rating agencies( i.e. moody's and Standards&Poors)Congress didn't come forth with the immediate $4billion in cuts they were looking for. We still may lose our rating which means we became a riskier bet and interest rates are going up for every thing.

edit on 2-8-2011 by 46ACE because: (no reason given)


High interest rates would be GREAT!

I'd love to see the days of 12% 1 year term deposits again. Instead, the banks rape everybody with fees and then do it again with their gambling habits to make a living.



posted on Aug, 2 2011 @ 08:38 PM
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Originally posted by area6

Originally posted by 46ACE
illegal space aliens are the least of your worries now! Retaining or losing our "AAA" bond rating is completely up to the corrupt rating agencies( i.e. moody's and Standards&Poors)Congress didn't come forth with the immediate $4billion in cuts they were looking for. We still may lose our rating which means we became a riskier bet and interest rates are going up for every thing.

edit on 2-8-2011 by 46ACE because: (no reason given)


High interest rates would be GREAT!

I'd love to see the days of 12% 1 year term deposits again. Instead, the banks rape everybody with fees and then do it again with their gambling habits to make a living.

CHARGING YOU higher interest rates !
and ofcourse the fed gov when it borrows..(!!!).



posted on Aug, 2 2011 @ 08:42 PM
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reply to post by 46ACE
 


When interest rates go up, they go up for everything.

Low rates are bad for savings. If you have a lot of debt you're worried about ... you shouldn't have a lot of debt.



posted on Aug, 2 2011 @ 08:46 PM
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Well,no one sent us the transcripts from the Bilderberg or Big 8 Summit.

Maybe the press releases that say they're doing what they're doing, is in fact NOT what they discuss back up in the Hotel Room Suites?



posted on Aug, 2 2011 @ 08:58 PM
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Seems odd but the currency exchange rate is up on the dollar. The stocks quit growing, the dollar quits inflating, and it is actually worth more exchanging it for pesos. That's good for my fixed pension and good for a large purchase I am going to make in the next couple of days. Some of my investments have slowed a little but I won't get into those for a few years yet. All is well.



posted on Aug, 2 2011 @ 09:02 PM
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Originally posted by galactictuan
reply to post by buni11687
 


Did I mention ET Disclosure is deeply connected with the financial crash?


Do you have any further info on this apparent "deep connection" between the two mate?

Very curious as i have heard this mentioned from various source in the past 2 years.

Thanks



posted on Aug, 2 2011 @ 09:13 PM
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Originally posted by area6
reply to post by 46ACE
 


When interest rates go up, they go up for everything.

Low rates are bad for savings. If you have a lot of debt you're worried about ... you shouldn't have a lot of debt.


Avoiding debt is why at age 53 I was retired and my friends are still working. In 2006 someone decided things would be going south soon so were offering early retirement with bonus. Many co-workers wanted to take the offer but had too many debts, bought too many new pick-ups and SUV's when things were looking good, refinanced their homes to get more money to spend. Austerity paid-off for me.




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