The Dow closes today at 11,383.68 with a drop of -512.76 points

Originally posted by thegoods724
anyone out there explain the hang seng index why it has flatelined, did they hit a dropping point to halt trades or what?
nvm looks like it happens everyday

edit on 5-8-2011 by thegoods724 because: (no reason given)

That question comes up every once in a while. The answer?

Lunch. They stop their personal quests for global financial domination for a quick bite to eat.

reply to post by Rockpuck


Well, " Let Them Eat....... Nawwww....

It's too easy.....

reply to post by morder1

it will ALWAYS be an ounce of gold...

Actually Gold is a very soft metal, Gold kept in a safe will be an ounce forever, Gold used as a coin and used as currency would eventually wear down.

Gold has been money for 5-6 thousand years...

But only THEE currency of choice (for empires) for about 2,300 years. The longest standing currency used throughout the World is Cattle. Gold was first used as a currency in approx 700BCE. It always had "value" but it was never used as actual "money" until that time. But a Cow has been worth something and used as currency was 8,000BCE .. 10,000 years ago.

but they didnt want to trade for your blueberry pie, you could give them gold for their good instead...

OR ....... I could give em a dollar and they'd accept that too. All currencies, whether Gold, Silver, Sea Shells, Cows or cotton rags we call "Dollars" all have a value because someone says it's worth something.

reply to post by thegoods724


"what happened to the guy the bet a billion dollars that the market would crash becuase of the debt cieling not passing through, what did he know? "

This is false, he bet 1 billion dollars that America would lose its AAA credit rating, you manipulated the context of the bet. He has not lost this bet yet, and I'm certain he will win it.

i sure hope that Gold shares go down again today (friday)

i purchased some yesterday at a $1.22 savings on each share,,, i still have a need for more shares at even lower cost..

i love it when the trading programs kick in when stocks lose a little value, it help to keep the prices falling as the next trigger is reached.

i also love it when the highly leveraged futures start declining and the margins require the holder to pay more or sell... thats what happened to the $4 loss in silver yesterday, the bunch of speculaters were relieved of their 'Long' positions....thus giving the frugal & poorer buyers (me & possibly thee) an opportunity to buy


viva Chaos....it keeps the evil intentioned off balance

reply to post by dreamfox1

While watching CNBC and Bloomberg last night, one of the main reasons behind this mess is... uncertainty driven by Obamacare. During the next three to four years, many elements of the new healthcare system will be triggered. Companies saw the writing on the wall, and then they decided to hold back on hiring. Other words, Obamacare is one of the prime reasons why people don't have work. Since no one knows what the program will do, American companies are hiring people... ready for this... in China and India. As a result of not wanting to cover health insurance for American workers, due to Obamacare, American companies shipped their production facilities to a more open market. According to what I understand, all American manufacturing companies will eventually move to China. Why? China is a free market.

*shrugs*

Didn't see that one coming? I did.

Also, corporations are making a profit, but through the use of foreign manufacturing working.

Don't bite the hand that feeds you.

Originally posted by dreamfox1
Wall Street Plunges on Economic Fears; Dow Sinks More Than 500 Points; S&P, Nasdaq Down 4%; VIX Soars 30%- Reuters

Stock investors face a number of worries. Congress and the administration must resume their debates over spending cuts to avoid a possible credit downgrade. Evidence of economic weakness has recently increased, raising fear of a return to a recession. A spreading debt crisis in Europe has also threatened to hit the global economy. ... » read more


finance.yahoo.com...

edit on 4/5/2011 by dreamfox1 because: info

The market is fickle and over reacts.
The good news is that 72% of American Companies surpassed profit expectations this year. This makes the United States very attractive in a global market.

Yeah! American Companies!

[atsimg]http://files.abovetopsecret.com/images/member/7f2ba869dc06.gif[/atsimg]


I can almost feel and share your success....

Well not really...
in fact I'll miss you when you leave us, go global or pack it up to China.
But it costs less to use "Communism" when it suits your purposes.
We understand. You want to be a little Communist.
Thinking maybe you should move there? Not just your business but your whole family.
Lock stock and barrel. Think of the money you will save.

And is there anything else we can do for you before you go?
Tax break? Subsidy?
Just happy we were able to give you your start.

Be well and make a fortune.
Don't you worry about hiring Americans, manufacturing here, lowering prices or doing anything else for us.
We'll get by.


Note to self:
Companies need a consumer "report card" so we can skip those who don't earn high marks.

First off.. Large swings in the market are going to be the norm now...Up and Down.. This could even correct itself by the end of the day...by correction I mean back up 500points... then what?
I have no clue.

I DO know this..When the CEO of General Electric announces new manufacturing plants in China, and he's Obama 's manufacturing czar,we're going to lose Gross National Product and jobs.

When Apple announces they're going to replace Chinese workers in China with robots,China is going to lose jobs.

The worker and jobs are not of interest to Large Corporations. It's not about the people at ALL.
Profit margins and grred are the norm. We keep hearing about it,but seeing it with our eyes as it's happening is still hard to swallow.

I totally get GE building Power plants in China FOR China. Buy Jet engine parts? I don't get it.

I GET that Apple went to China for lower wages,but to replace people IN China with robotics?
What's wrong with pick and place equipment running in the U.S. with skilled operators?

I really don't get it. These U.S. companies and the President are looking like they don't give a rats ass about Made In America products all by themselves.

The Paper Tiger will grow.

Originally posted by AeonStorm
reply to post by OuttaTime

 

I can understand the drop in the global markets .... however .... GOLD AND OIL dropped? ..... This goes against everything that i believe when it comes to investing.

Are things to a point where the only possible safe investments is directly related to food, shelter, and warmth? If so what companies should we be looking at for major gains and which companies are going to tank?

Peace and Respect,

-AS-

I was thinking the same thing. Gold and oil usually ran a mirror pattern with industrials and commodities. All I can figure is that they are manipulating the values through Forex markets. And probably devaluing the dollar just long enough to deflate debts and interest rates at payout time, then pumping it back up. It's hard telling what they are really doing in the markets as old patterns are out the window now. I'm not invested in anything, but I keep an eye on them, sort of like a sign of future calamities.

Add: As far as what companies to look to, I can't say. I'm not sure investing is a good strategy right now. But I would have a look around your local Army/Navy store for ideas

reply to post by MJZoo


It can be anyone who benefits from a crash, see spread betting, if you sell at the right time your gravy, but of course i can see your point in having inside information, although you can benefit from betting against the market, if you do it at the wrong time you could lose alot more than you set to make lol

I would say the market is going to plunge because of the Federal Reserve audit. I haven't seen anything posted on these forums yet.

sanders.senate.gov...

$16 Trillion in secret loans to Banks/Companies in a two year span? The deficit is only $14 Trillion.......

Wow. I can't believe no MSM outlets are covering this story. Oh wait...

Originally posted by RaKeZ
$16 Trillion in secret loans to Banks/Companies in a two year span?

And that was money that previously did not exist. Even if all of the loans are paid back, there could still be a HUGE impact on the value of the dollar.

reply to post by RaKeZ


It was covered in a thread a little while back. I was shocked when I read it. Even more surprising was the fact that it was part of the bailout package of a measly $800B, and they had to do some serious arm twisting in CONgress to make that happen. Apparently we bailed out the entire planet, and they don't have the money to pay us back. Funny how debt has become the new surplus. Odd how the world markets are tanking and we are in the black right now. It shows just how corrupt the PPT is. The total US debt is around $55 Trillion ATM. If you check US Debt Clock you will also see that the interest on our debt is higher than federal spending. Our budget deficit is about the same as our Treasury securities, and at the same time the total amount of actual currency is about $9T while the Credit Derivatives are about $600T more than that.
We're in a hole we cannot climb ot of, unless everything gets a reboot and we clean house.

reply to post by niceguybob

I think you misunderstand me.

In 2008, we saw a severe market correction that triggered off a recession, which in turn has slipped into a depression. We have not recovered at all, save for small, sporadic, mostly insignificant spikes of activity in localized regions. The stock market has rebounded, but as this event indicates it was a symptom of governmental influence and in no way reflected the reality of the economy.

The recession/depression.is not over. It's not even stable. It will not become stable until the corruption in the financial industry is wiped out, and that will not happen until the stock market has a full crash. That crash may be imminent now, or this correction may, like the last one, simply be another warning by economic forces.

90% of everything that came out of the White House prior to 2009 was a lie. 100% of everything that came out of the White House since has been a lie.

TheRedneck

Originally posted by TheRedneck

The recession/depression.is not over. It's not even stable. It will not become stable until the corruption in the financial industry is wiped out, and that will not happen until the stock market has a full crash. That crash may be imminent now, or this correction may, like the last one, simply be another warning by economic forces.

With the ongoing exodus of businesses and manufacturing (outsourcing) it can only get worse, declining revenues and increased government spending and expansions among other things such as new trade agreements which also cause lost jobs... America's wealth has already been taken away and redistributed to the rest of the world, most people just simply can't see it, or don't want to accept it.

The plan was to balance the global economy, but only at the expense of the US economy... President Obama has done a great deal to advance that agenda, along with a largely progressive congress.

Question is, are we too far down this redistribution road now, to ever find our way back?

If so, then Americans are going to have to adjust to living in a very poor nation, because that is where this road is certain to take us all, ultimately.

DOW is dropping again.. down 120 more at the moment, load this page and you can watch it update..

www.google.com...

Day is young, maybe it will get better?

European markets all down again after having dropped around 5% (all of them...) yesterday. Euro up vs Dollar but thats about it.

www.beurs.nl...

reply to post by Fractured.Facade

No one knows the thoughts of those who have engineered this fiasco, but my opinion is that the original plan was a response to the buying of America by foreign interests. For two hundred years, the USA was a nation of the most industrious people on the planet, and we became the financial world leader.

Just like investors flock to a fast-rising company, other nations invested in us. I can still remember the worries about other countries owning the USA from a few decades back. They bought our factories, our resorts, our bonds. NAFTA and CAFTA were the beginnings of an attempt to correct that. The thought at the time was that if we helped other countries to improve their financial situation, they would be less rabid about acquiring American interests.

It didn't work; instead of causing other countries, like China and Japan to back off buying our resources, it gave them a way to actually take the American manufacturing base. And there was only so much we could do, as they now held enough assets to collapse our economy at will. So we appeased, by tax breaks to help companies move to their soil (taking jobs with them), and by encouraging consumers to buy their products.

It's like watching a bunch of guys trying to strip your car and tossing the keys to them to placate them. Then, of course, you remember the handgun in the glove box.

Now we have the largest consumer base around, meaning our economy is crucial to the world economy; a non-existent manufacturing base, meaning our economy produces nothing of real value; and a bunch of idiots sitting in high-rise offices and DC chambers scratching their head to try and understand what happened.

Much less how to fix it.

The last rebound was caused by government printing money and throwing it at the market. If a company can be deemed 'to big to fail', then that company becomes a safe haven for investment. But no company can be too big to fail; it can only be too big to fail without damaging something as it comes down. Thanks to the infamous bail-outs, government is now tied inextricably to those businesses, so if (when) they fall, so does the government... and vice-versa. So the next crash will not just be like 1929.... in 1929 only the economy crashed. This will also be like 1861, when the government collapsed into Civil War.

1861+1929=2011 (or maybe 2012)

TheRedneck

Redneck, About 15-20 years ago,in Southern California the Japanese were on top of the world as you mentioned. Toyota and Toshiba were cash heavy. They went into the Pacific Palisades area and bought up anything that was for sale at any price.
ALL golf courses were full of Japanese businessmen playing rounds at $100.00 bucks each.. Too many white people on the course? Buy the course and make it private.
So..Everyone in the area inflated the asking prices on properties there. They still sold...until some Japenese wanted to SELL what they bought and saw how much they overpaid.

It adjusted itself,but a LOT of money just disappeared into thin air.

Kinda the same thing all over again. We demand our government help when the going get's bad,and then we get mad when we ask why didn't they do more to avoid this.

Dow is down over 150 more at the moment and dropping like a rock.

About -675 including yesterday.

Someone quick, close the market!