Ugly Day?

There is every reason to believe today could be pretty bad on the markets:

Just in the first half hour.



Here's how Asia did:



Korea Slumps 5%; Halts Trading

And Europe:



Just might be very ugly indeed...

Often we see sharp losses during the early hours. Its not until the final hour that we really see a good picture.

FTSE/DAX down about 4%, but they lost almost 1.5% on the bad DJI start, which is rebobunding as we talk.

Will be suprised if the DOW ended in green today, but she's a SOAB to sink that thing.

www.youtube.com.../u/3/Hgr1gC0TL7M

reply to post by loam


Have you noticed, anytime Bernanke opens his mouth it is a very rough day on Wall Street?

The market will likely recover over the next week or two (I don't know how it keeps doing that), but since Bernanke is speaking today, it will continue to tank.

Down $155.56 at the moment.

It had been UGLY for weeks, but only a perpective by gamblers.

The stock markets are nothing more than casinos. It started as a capitalist measure for companies to obtain funds other than traditional sources such as banks or friends.

But as usual, it got screwed up along the way by gamblers who see it as way to profit without the headaches of actually setting up and managing companies, the way Industrialization age had elevated mankind. The more money you have to play, the more the chances to win.

And the house is none other banks, just by the sheer size of funds, money from depositors, to move markets as they so wish, espacially cartels such as central banks by their monetary policies. It became far worse than actual casinos. At least in casinos, there is still the element of chance that the house faces. But with the stock market, bankers call the shots, and as such, many middle class fools lost their entire life savings gambling on supposed 'investments' which is nothing more than gambling..

RIght now, with banks, espacially europeans and those heavily exposed to the crisis in Europe, are falling short of balances, they have to cull those money back from the stock exchanges, the fastest way to do so. Trillions within the next few days from all over the world or they will go bust. Most big timer gamblers know that fact, are spooked and had fled the casino. Only the fools and the unsuspecting remain.

It will only get uglier, a necessary course of action in order that the financial system be repaired, or it will only malfunction again in a short time as bankers failed to learn and correct their mistakes the first time in 08.

Banks, at the end of the day, are only capitalist enterprises, responsible for their own errors. They privatise all profits, and thus they cannot be allowed to socialize their debts. They will have to fall and pay the price.

But it will not be the end of the world for economies as trade will still continue on, and revenues earned, for mankind still have needs to be met and Earth had not run out of resources yet, despite floods and earthquakes withstanding, as our food and mineral resources are well spread out on the entire planet and not dependent on just one source.

Money do not disappear into thin air. It just get hoarded up. The banks may be short of money and would be in a difficult position to lend if companies need funds for expansion to meet needs, but not non-European and unexposed to crisis banks around the world. Furthermore, there are many, many rich folks with money at home, or in vaults, and should there be a compelling venture, they will be willing to share to earn something for their unused funds gathering dust in vaults.

And there is always the gov ( not the european ones for sure), provided the partisan political parties do not play games, or set the approval of funds to the PEOPLE, on conditions of insane returns.