It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by galdur
reply to post by thoughtsfull
I read somewhere that about 25% of economists surveyed see a recession ahead. Therefore I can conclude with confidence that we´ve already been in recession for at least 2-3 months and that it´s going to deepen.
Australian stocks lost more than $36 billion in value at the open this morning on growing worries about the European debt crisis and global growth, while shares in Cochlear dived after a product recall.
In mid-morning trade, the benchmark S&P/ASX200 was 126.8 points lower, or 3 per cent, at 4067.9, while the broader All Ordinaries index slumped 121.5 points lower, or 2.8 per cent, to 4155.9.
The Australian dollar fell to $US1.04, but rose to 76.94 euro cents, putting it within striking distance of its all-time high of 77.08 euro cents reached at the end of December 2010.
The start of sharemarket trade was even poorer than investors had expected, amid weak offshore leads stemming from investor fears that Greece would default on its massive mountain of debt.
The woes were exasperated by the unexpected resignation on Friday of the European Central Bank’s chief economist, Juergen Stark, stoking market fears that the euro zone's debt crisis will escalate.
Originally posted by scoobyrob
WOW just saw gold hit $1902 an ounce on cnbc.
i remember someone predicted it to hit $2000 BEFORE something big happens.
edit: cant remember who it was tho.....edit on 6/9/11 by scoobyrob because: (no reason given)
"""The S&P 500 may sink to as low as 970 because Wall Street analysts’ earnings estimates are too optimistic, according to MKM Partners LLC’s Michael Darda. The 2012 forecast for S&P 500 company profits of about $108 a share may have to come down by as much as 30 percent, said Darda, chief market strategist at the Stamford, Connecticut- based research and trading firm. He cited the history of U.S. business cycles and the relationship between bond yields and earnings in making the prediction. “We believe the S&P 500 will fall to 970-1,030 before bottoming,” Darda wrote in today’s report titled “Profit Squeeze Coming.” He added, “If conditions are less favorable than average, the S&P 500 could surely fall more.” """