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Financial crisis: full force of US downgrade is felt around the world

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posted on Aug, 8 2011 @ 01:24 AM
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Financial crisis: full force of US downgrade is felt around the world


www.guardian.co.uk

US decline leaves China tipped as next economic superpower while pressure on US bonds is set to affect eurozone crisis

When India joined China in criticising the United States' chaotic handling of its hefty debts this weekend, describing the challenges facing the White House as "grave", it was the clearest indication yet that the old order had been swept away.

Until recently the US was the unassailable economic superpower, and the prospect of the White House being bossed about by the bond markets – let alone by Beijing or New Delhi – was unthinkable.
(visit the link for the full news article)


Related News Links:
www.guardian.co.uk
www.washingtonpost.com

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posted on Aug, 8 2011 @ 01:24 AM
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It seems that a lot of people are aware of the problems the US are facing at the moment. With a declining dollar and what seems like an inevitable crash, the effects of this are starting to be seen around the world too.

Stock markets around the world are down. There are serious problems facing European markets in the future with Spain and Italy looking to be future casualties. Things are not looking good.

With this crisis comes other issues. The main concern for me personally is the shift in global power that is taking place, and will continue to take place as long as the US declines. From what I read it seems naive to ignore the reality of this global situation.

As we have seen historically, shifts in global power can bring about conflict, serious conflict. With the amount of nukes on this planet no one really wants to start pushing buttons because it could quite literally be the end of the world if that kind of the thing takes place. Also with the amount of wars the US is already engaged in it doesn't seem very likely at all that armed conflict with china would end favorably for them. China also has allies and a war of this scale/nature could certainly be considered a war on a global scale if it were to take place as Iran may come into the picture as with Russia and India.

Would the US let a shift in power take place without a fight? That also seems unlikely, and with the gloomy reality coming into focus day after day it seems like there are hard times ahead for many nations in this new economic crisis and I wish people luck. What is also of concern is the amount of people this will/may effect. With people already struggling to makes ends meet in the west things can only get worse. Is there a way to avoid this?

Many cannot see the reality of this crisis for the world and not just the United States, something absolutely needs to be done. But what??!!

www.guardian.co.uk
(visit the link for the full news article)
edit on 8-8-2011 by sir_slide because: (no reason given)



posted on Aug, 8 2011 @ 01:25 AM
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Half hour European markets open. Asia has a bad trade day, how will the world react??



posted on Aug, 8 2011 @ 01:35 AM
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posted on Aug, 8 2011 @ 01:37 AM
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What does China produce? I mean really.

From what I've seen, the best they can do is stock Wal-mart shelves. Why are they considered such a threat? Half of their population is starving, and the other half is sucking off of the US's hind tit.

I say we tell them to take a flying leap and see where that gets them.
edit on 8/8/2011 by OldCorp because: (no reason given)



posted on Aug, 8 2011 @ 01:50 AM
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reply to post by OldCorp
 


You'd actually be surprised what they produce, almost everything is made in China. Also you'd actually be surprised at how affluent Chinese society has become, my family was there recently I was shocked. They also have a giant population who could easily be utilized in an armed conflict as they're petrified of their government.

I think a lot of people may not comprehend the true nature of modern Chinese society, they're doing pretty well. Another thing is that it is only because many goods are made in China that they come so cheaply to the west, if they were to cut off your imports then you may suddenly find most products taking a sudden price hike, coupled with the decline of the dollar this is not good news for people in the US.

Cheers



posted on Aug, 8 2011 @ 01:52 AM
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reply to post by TribeOfManyColours
 


Only time can tell my friend, and time may not be on our side.....

Brilliant video by the way, I can't believe that's actually an ad!
edit on 8-8-2011 by sir_slide because: (no reason given)



posted on Aug, 8 2011 @ 01:53 AM
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European stocks are about to open. Its not looking too good at the moment.

Asia stocks have been getting hit pretty hard right now. S&P ASX closed at -2.71% I believe. Still some time left for other Asia stocks, but most down over -2%

European stock index futures point to losses


LONDON (MarketWatch) -- European stock index futures dropped sharply Monday, pointing to losses for all of Europe's major markets following Standard & Poor's decision to downgrade the U.S. on Friday. Futures on the FTSE 100 index dropped 121 points, or 2.3%, to 5,109 and futures on the German DAX 30 index were down 131.50 points, or 2.1% at 6,126. The losses for European futures came as Asian markets also posted big falls, including a 2.2% drop for Japan's Nikkei Stock Average


At the moment, US stock futures are looking bad to.

U.S. futures sharply off ahead of Europe open


MADRID (MarketWatch) -- U.S. stock market futures were pointing to a sharply lower open for Wall Street on Monday, as the market gets the first chance to react to last Friday's U.S. debt downgrade by ratings agency Standard & Poor's.


ETA - Euro stocks just opened....lets see how it goes
edit on 8-8-2011 by buni11687 because: (no reason given)



posted on Aug, 8 2011 @ 01:57 AM
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Seems like the media is not reporting anything about economic collapse except some London riots. Typical.



posted on Aug, 8 2011 @ 01:59 AM
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reply to post by buni11687
 


I'm not an expert on the stock market in any sense, but what type of drop is usually deemed a serious concern?

Thanks for posting that, it will be interesting to see how other markets open.

Cheers



posted on Aug, 8 2011 @ 02:03 AM
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Whats the current update World Wide

China?

Japan?

Australia?

Europe?

What the outlook for the US market when it opens?

All i seen today was Israel Market; They shut it down after a quick fall



posted on Aug, 8 2011 @ 02:05 AM
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reply to post by sir_slide
 





I'm not an expert on the stock market in any sense, but what type of drop is usually deemed a serious concern?


Im not an expert either, I just got into this whole stocks thing on Thursday, when the Dow dropped over 500 pts.

In my 5 days of watching stocks, this is what I have come to understand. If stocks drop more than 3 or 4%, then I think its bad. Basically, if it's a big percentage, then its bad.

ETA- This is something that the stocks dont want to see (taken from marketwatch.com a minute ago)


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


ETA 2 - Also, "futures" are kind of "predictions" on how the market will go. (I think)
edit on 8-8-2011 by buni11687 because: (no reason given)


Im almost certain Ive missed a few things. Someone with more knowledge than me will problably come in here and help explain better than I have.
edit on 8-8-2011 by buni11687 because: (no reason given)



posted on Aug, 8 2011 @ 02:13 AM
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reply to post by KonigKaos
 





THE Australian market has closed down almost 3 per cent amid growing fears that the world economy is weakening.
www.news.com.au...



money.cnn.com...
edit on 8-8-2011 by sir_slide because: (no reason given)



posted on Aug, 8 2011 @ 02:15 AM
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RT is also reporting that Monday could be a bloodbath....again

Global markets brace for Black Monday mayhem


Asian stocks tumbled early on Monday, starting what is likely to be a chain of torrid trading in Europe and the US later. Investors are taking fright at America's government debt downgrade and Europe's debt wound that refuses to heal.


As it turns out, Fridays predictions came true (for Asia so far)


­Friday’s forecasts came true this morning when markets in Australia, China, Japan and South Korea started tumbling.



posted on Aug, 8 2011 @ 02:18 AM
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reply to post by buni11687
 


The European bank has just announced that they have been buying up Italian and Spanish bonds which has eased the situation. Is that capitalism or is it Socialism? I would argue it is the global way as it certainly isn't socialism.



posted on Aug, 8 2011 @ 02:22 AM
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Originally posted by Tiger5
reply to post by buni11687
 


The European bank has just announced that they have been buying up Italian and Spanish bonds which has eased the situation. Is that capitalism or is it Socialism? I would argue it is the global way as it certainly isn't socialism.


The economical tsunami is still coming towards the DOW and TSX IMHO...

This is somethin' like the Holocaust/
Millions of our people lost/



posted on Aug, 8 2011 @ 02:24 AM
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reply to post by buni11687
 


Cheers for the responses. I wonder to what extent it will effect the Asian markets and at what rate. Surely China will be able to withstand any possible decline.

Hong Kong shares are down 3.5...
edit on 8-8-2011 by sir_slide because: (no reason given)



posted on Aug, 8 2011 @ 02:32 AM
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reply to post by sir_slide
 


I don't see how the United States can be blamed. If they have bonds or currency that isn't backed by some other form of tender, such as gold, then that currency is no different than stock. They have known that our currency hasn't been backed by anything for quite some time. If they want to own stock and that stock doesn't do well then they're to blame for any short-comings they have for owning said stock. It's like they want to get mad for gambling and losing.



posted on Aug, 8 2011 @ 02:33 AM
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Why is something this critical -- a nation's rating -- left up to a single private company (S&P) that uses opaque and questionable methodology?

Essentially the power to lay low the entire global economy has been placed with the credit agencies like S&P. Does anyone else find this a bit odd?

If "credit rating" is going to be the be-all, end-all that decides a nation's fate, it needs to be established more fairly and transparently and not by a single or a handful of small private companies.



posted on Aug, 8 2011 @ 02:34 AM
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Originally posted by OldCorp
What does China produce? I mean really.

From what I've seen, the best they can do is stock Wal-mart shelves. Why are they considered such a threat? Half of their population is starving, and the other half is sucking off of the US's hind tit.

I say we tell them to take a flying leap and see where that gets them.
edit on 8/8/2011 by OldCorp because: (no reason given)


I say lets just tell them to take a flying leap regardless, agreed?







 
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