thanks McR, at least somebody on the forum appreciates my comments
FreeOnes: possibly the best forum on the Internet??
Stocks fall as Fed adds more liquidity
- Thread starter Friday on my mind
- Start date
thanks McR, at least somebody on the forum appreciates my comments
FreeOnes: possibly the best forum on the Internet??
Who would have known! Yesterday everything was okay, again! Now they can lower rates, and pretend everything is okay a little longer.
thanks McR, at least somebody on the forum appreciates my comments
Well, despite the rules, I would not be surprised if between 1/3-1/2 of the members here are under 18.
And the rest? With a name like FreeOnes. Along with it's role as a porn chat forum. I would guess that there are not a huge percentage of people on here who are significantly, financially concerned about the health of the United States economy.
But I am!
If the fed holds - which indeed it should - stocks WILL go into free fall (let's say a possible 15/20 per cent drop) but this will be healthy in the long-term. as i have said before, options are expiring on the 20th of this month so we can expect a great deal of volatility up until then, at the very least. a few minutes ago, we saw a pullback in the Dow, but it's now retracing the day's low.
thanks McR, at least somebody on the forum appreciates my comments
Well, despite the rules, I would not be surprised if between 1/3-1/2 of the members here are under 18.
And the rest? With a name like FreeOnes. Along with it's role as a porn chat forum. I would guess that there are not a huge percentage of people on here who are significantly, financially concerned about the health of the United States economy.
But I am!
perhaps those particular members are interested in the price of porn and sneakers - neither are constituents of the fed's inflation basket as far as i know:1orglaugh
Well, despite the rules, I would not be surprised if between 1/3-1/2 of the members here are under 18.
And the rest? With a name like FreeOnes. Along with it's role as a porn chat forum. I would guess that there are not a huge percentage of people on here who are significantly, financially concerned about the health of the United States economy.
But I am!
I'm only here because it said, "Free". :dunno:
Don't worry, tommorrow it will all be okay again! JMCG will be up a tenth more than expected. They say in a euphoric market, anything including the the ice cream man driving past runs up prices. In a down market, anyone's cat dying drops them. But up or down, the market mavens are already in and ready to get out.
This excellent article shows just how difficult conditions are: if the banks themselves won't lend to each other, what chance anybody else from borrowing from the big guys??
http://www.canada.com/nationalpost/...=a4f36d27-be61-422d-9b13-6af55c6ab9a2&k=26122
http://www.canada.com/nationalpost/...=a4f36d27-be61-422d-9b13-6af55c6ab9a2&k=26122
The Euros are now dropping the Recession word...according to this article..
http://news.bbc.co.uk/2/hi/business/6979577.stm
Broadly speaking, there are some systemic problems with peoples' perception of financial responsibility. We do live in a capitalistic/consumerist country. We live comfortably compared to our parents and grandparents. Our base level public education is probably half as valuable as it was in the 1950s, when you had to read more classic texts and were treated to a more "liberal" education.
In the short term...I do feel George Bush can be blamed for this pending Recession/Meltdown we all think is building around us like a hurricane.
One of W.'s campaign narratives was compassionate conservativism (which seems like a joke now), but also there was his idea of creating "the ownership society" where more people in America own their homes. It sounded like a great idea. As someone pointed out earlier in this thread, there was the passing into law (through credit card and bank lobbying) the new law which makes it more difficult to declare bankruptcy. This was followed by the Housing Bubble/Mortgage Schemes. The schemes worked, people went out and bought homes and rejoiced..but now that the winds have changed..all of these homeowners are about to be fucked bigtime when the banks foreclose on them. Of course lots of Real Estate agents are giddy over the prospect of scooping up these homes and then filling them with desperate renters..in hopes that "the cycle of pump and dump home flipping" will return in 2010...
I know George H.W. Bush left our economy in shambles when he was seeking reelection and lost to Bubba Clinton. We were exiting Iraq messy, energy prices were high, inflation was hitting supermarket shelves...home values were declining...basically...all the same shit we're seeing today.
I think we're heading for a hard recession very soon....
http://news.bbc.co.uk/2/hi/business/6979577.stm
Broadly speaking, there are some systemic problems with peoples' perception of financial responsibility. We do live in a capitalistic/consumerist country. We live comfortably compared to our parents and grandparents. Our base level public education is probably half as valuable as it was in the 1950s, when you had to read more classic texts and were treated to a more "liberal" education.
In the short term...I do feel George Bush can be blamed for this pending Recession/Meltdown we all think is building around us like a hurricane.
One of W.'s campaign narratives was compassionate conservativism (which seems like a joke now), but also there was his idea of creating "the ownership society" where more people in America own their homes. It sounded like a great idea. As someone pointed out earlier in this thread, there was the passing into law (through credit card and bank lobbying) the new law which makes it more difficult to declare bankruptcy. This was followed by the Housing Bubble/Mortgage Schemes. The schemes worked, people went out and bought homes and rejoiced..but now that the winds have changed..all of these homeowners are about to be fucked bigtime when the banks foreclose on them. Of course lots of Real Estate agents are giddy over the prospect of scooping up these homes and then filling them with desperate renters..in hopes that "the cycle of pump and dump home flipping" will return in 2010...
I know George H.W. Bush left our economy in shambles when he was seeking reelection and lost to Bubba Clinton. We were exiting Iraq messy, energy prices were high, inflation was hitting supermarket shelves...home values were declining...basically...all the same shit we're seeing today.
I think we're heading for a hard recession very soon....
All that is true but I think the worst is yet to come economically. People don't get a good education and are also so spoiled to go so far into debt over their heads that they can't afford to live and have no savings.
I was reading that this administration is just what Bin Laden thrives on. A nation split in two over that war, terrible economics, and it's headed for a financial disaster. No wonder there is no current terrorist attack that can't be prevented anyway despite the fact they take credit for preventing one. The US is self destructing on it's own without terrorists, why would they raise public sentiment against themselves?
I was reading that this administration is just what Bin Laden thrives on. A nation split in two over that war, terrible economics, and it's headed for a financial disaster. No wonder there is no current terrorist attack that can't be prevented anyway despite the fact they take credit for preventing one. The US is self destructing on it's own without terrorists, why would they raise public sentiment against themselves?
Lumber has took a big hit, little over a month ago $330.50/thousand board ft., today after lunch it was at $242.70. I'm glad I locked some of mine in when it was over $310. That means Housing is staying in the Dumpster!! I sure ain't selling @ $245. might as well sell it as Firewood, Oak & Hickory is bringing $300. Cord, delivered. :dunno:
The whole thing is just another foolish move with potentially dire consequences. It's walking on thin ice.
It reminds me of Social Security and how the excess was spent instead of remaining invested. Now there won't be enough in a few years because short sighted politics won out against common sense.
Us Economy On The Skids, Employment dives - Dollar slide continues
The U.S. economy unexpectedly lost jobs in August for the first time in four years, raising the risk the economy may stall in the second half and serving as a warning for the Federal Reserve to lower interest rates.
Employers cut 4,000 workers from payrolls, compared with a revised gain of 68,000 in July that was smaller than previously reported, the Labor Department said today in Washington. The unemployment rate held at 4.6 percent as almost 600,000 people left the workforce.
``Rate cuts will be right around the corner,'' Chris Rupkey, senior financial economist at Bank of Tokyo Mitsubishi UFJ Ltd. in New York, said before the report. ``At this stage, they don't need the cover of any more weak economic data to act.''
The drop in jobs is the clearest sign yet that the deepening housing recession and turmoil in credit markets are hurting the wider economy. Payrolls are one of the main factors, along with sales, incomes and production, that help determine the starting point of economic contractions, and today's report may raise the odds the Fed reduces rates even before the Sept. 18 meeting.
Treasuries climbed and stock index futures dropped. The yield on the benchmark 10-year note fell to 4.44 percent at 8:32 a.m. in New York from 4.51 percent late yesterday. Two-year note yields slid below 4 percent, indicating traders anticipate a series of Fed rate cuts. The central bank's current target rate is 5.25 percent. Futures on the Standard & Poor's 500 index fell 0.7 percent to 1,469.60.
Surprise to Economists
Economists surveyed by Bloomberg News had forecast that payrolls rose 100,000 during the month, according to the median of 88 estimates, compared with an originally reported 92,000 gain in July. None of the analysts foresaw a decline, as predictions ranged from 35,000 to 140,000.
Revisions subtracted 81,000 workers from payroll figures previously reported for June and July.
Looks like the US economy is in deeper trouble than expected.
The U.S. economy unexpectedly lost jobs in August for the first time in four years, raising the risk the economy may stall in the second half and serving as a warning for the Federal Reserve to lower interest rates.
Employers cut 4,000 workers from payrolls, compared with a revised gain of 68,000 in July that was smaller than previously reported, the Labor Department said today in Washington. The unemployment rate held at 4.6 percent as almost 600,000 people left the workforce.
``Rate cuts will be right around the corner,'' Chris Rupkey, senior financial economist at Bank of Tokyo Mitsubishi UFJ Ltd. in New York, said before the report. ``At this stage, they don't need the cover of any more weak economic data to act.''
The drop in jobs is the clearest sign yet that the deepening housing recession and turmoil in credit markets are hurting the wider economy. Payrolls are one of the main factors, along with sales, incomes and production, that help determine the starting point of economic contractions, and today's report may raise the odds the Fed reduces rates even before the Sept. 18 meeting.
Treasuries climbed and stock index futures dropped. The yield on the benchmark 10-year note fell to 4.44 percent at 8:32 a.m. in New York from 4.51 percent late yesterday. Two-year note yields slid below 4 percent, indicating traders anticipate a series of Fed rate cuts. The central bank's current target rate is 5.25 percent. Futures on the Standard & Poor's 500 index fell 0.7 percent to 1,469.60.
Surprise to Economists
Economists surveyed by Bloomberg News had forecast that payrolls rose 100,000 during the month, according to the median of 88 estimates, compared with an originally reported 92,000 gain in July. None of the analysts foresaw a decline, as predictions ranged from 35,000 to 140,000.
Revisions subtracted 81,000 workers from payroll figures previously reported for June and July.
Looks like the US economy is in deeper trouble than expected.
Dow -250 at the close. Decline of 4K in employment. Looks like the Fed will have no choice but to cut now: next question is - a cut by .25 or .50?
Most were suggesting a job increase, not a job decline. I assume that is what spooked the markers down 250 points.
I don't no allot about the stock market. But I do know it does not like surprises.
Don't worry, this is friday. Monday they will rejoice that layoffs translate into meaner, leaner, companies. I wish I could, I wish I could. I know I can, I know I can! Just don't think too hard.
Someone is always making money on this, and we're just watching it tread water. The real action will be a big percentage drop, something unheard of in numbers before, like 10% or about 1300 points. A recession could probably kick it back to 5,000 over a year or more. So go short!
This news was released after the close of the market (Dow -250) and after the release of the NFP report:
Countrywide May Cut Staff by 12,000 as Demand Wanes
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQhytb8fv1Tk&refer=home
Countrywide May Cut Staff by 12,000 as Demand Wanes
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQhytb8fv1Tk&refer=home
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