Early Signs of a Market Crash Ahead?
This went kinda unnoticed today .... the market's largest drop since last August!! Is it the talk of not raising the debt ceiling? Is it wars? Is it weather catastrophes? Is it inflation? Is it housing still slumping? Is it oil prices? Is it nuclear plants glowing in the dark? Is it the medicaid/medicare battles in DC? Is it because it's 2011 heading into 2012 and our time is about up? Could it be Weiner's weiner now in the news? Could be all the above, huh?
[Only registered and activated users can see links. ]
June starts ominously for teetering Wall Street
By Ryan Vlastelica
NEW YORK | Wed Jun 1, 2011 5:25pm EDT
NEW YORK (Reuters) - Wall Street ended a four-day rally with its worst session since August on Wednesday and could suffer more losses in coming days as investors faced more signs the economic recovery is fading.
All 10 Standard & Poor's sectors ended more than 1 percent lower and all 30 stocks in the Dow industrials fell. Banks were the biggest decliners as the economic reports painted a glum picture for jobs and manufacturing.
The recent four-day winning streak had some investors pointing to resilience in the market, but Wednesday's decline took the S&P through its 50-day moving average, leaving the market vulnerable to more losses.
"I expected that the S&P would be able to hold onto 1,331 or 1,324," said Roger Volz, director of cash equities at BGC Financial in New York. "The fact that we keep moving deeper into a corrective mode ... puts us on the sidelines for Friday."
In a sign of increased investor caution, the CBOE Volatility index .VIX spiked 18.5 percent while in the U.S. options market became a bit more defensive. About 16.7 million contracts changed hands, with puts outpacing calls by a factor of 1.07:1, according to Trade Alert.
The Dow Jones industrial average .DJI was down 279.42 points, or 2.22 percent, at 12,290.37. The Standard & Poor's 500 Index .SPX was down 30.66 points, or 2.28 percent, at 1,314.54. The Nasdaq Composite Index .IXIC was down 66.11 points, or 2.33 percent, at 2,769.19.
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
I really think some of this is deliberate manipulation to help the GOP win the 2012 election. Enough economic disaster would go a long way to facilitate Obama and the Democrats' defeat No matter which of the current lamebrain bastard GOPers would win, we would all be worse off than with 4 more years of Obama...and the GOPers planning to run in 2016 are even worse yet.
mark
------------------The phantom spitter strikes again!-------------
I can agree with this .... to a degree. I've always said and will continue to do so..... the deep shit we're in now was brought on by BushCo. All by design. So, no matter what ObamaCo does ... or we think Obama can do .... we're just in over our heads way too deep and the only way to start over is to .... start over after a lot of hurt. What pisses me off is ... we'll hurt like hell , while the BushCons walks freely on this Earth. Even if we ever come out of this on the other end of this terrible span in our history still breathing ..... we'll still have the likes of these very fucking BushCons among us ... only to repeat this same shit over again.Originally Posted by old mark
I too agree that the GOP wants to take over DC in 2016. The only thing is, it won't be any prettier in 2016 than it will be between now and 2013. But then, they don't give a rat's ass about that ... they just want the control and power to rule over a slave nation and the coming NWO Armageddon. IMHO
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
I have other sources that puts the next crash event between Sept and Nov of this yr. The gentleman below, calls for another Great Depression and I think it may happen. He didn't even list the draining crusades that the NWO Con wars are having on us. I still can't believe my eyes and hears when most doesn't pin our financial troubles on these very expensive wars overseas. That and NAFTA .... and Energy/Food costs are all absolutely killing us! Well ... we'll know where we are with this during 2012. But for now, the market will flip flop all over the place like a newly caught fish laying on the river bank after being pulled out of the water.
[Only registered and activated users can see links. ]
June 1, 2011 9:32 PM GMT
Peter Yastrow is possibly the most bearish trader on earth.
Yastrow is the “world’s largest LIBOR trader,” according to CNBC. His trading focuses on equities, currencies, and interest rates.
.
.
.
Yastrow said “we’re on the verge of a great, great depression” and the Federal Reserve “knows it.”
Why is the economy so bad?
First, “many homeowners…are totally underwater here and cannot get out from under,” which is why the housing market is double-dipping.
Second, the “technology frontier is limited right now,” so there won’t be any booms in productivity to rescue the economy.
Third, we don’t “have a labor [cost] that’s in line with the rest of the planet,” so there is no justification for globalized production and jobs to remain in the US.
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
Fourth, we're well into year 2 of Baby Boomers hitting retirement age. Since they hold the lion's share of the markets, it stands to reason that as these other forces negatively impact the markets, the Boomers will try to liquidate as much as possible to preserve their retirement.
I did that two years ago. Converted our IRA accounts to fixed annuities earning a 5% return based upon value at the end of the first year. The return pays for insurance premiums and tax on earnings. Insurance is long-term care for my wife, and a big life insurance policy on my wife!
When it's over for my wife and I, our two children will inherit a fortune. But this arrangement leaves my wife and I without our IRA funds. But we should be able to get by with our income as is.
I started investing in mutual stock funds in the early 1990s when the DOW was at 2,850. I cashed in non-IRA funds on 1/6/2005 to pay for my daughter's college with a prepayment for four years less the known scholarships she received. And I had money left over for other purchases later in 2005 and 2006.
I made a lot of money riding the Mutual Stocks I owned, and cashing in and making good investments with the proceeds. But I started saving with 11% & 12% CD's in the 1970's, and I have had more than 30 years to see my savings grow in value. My kids have benefitted with 4 years each of college paid for, they graduated without debt, and were able to buy homes before they were 25.
So what started with savings by me in the 1970s has blossomed into a stable economic future for my children. In return, all I want is to be able to take afternoon naps with my dogs.
Well, our economy is still wobbly ...... the market is nibbling/biting on their finger nails again.
[Only registered and activated users can see links. ]
Summary Box: Stocks Fall After Weak Jobs Report
By The Associated Press
June 3, 2011 (AP)
BAD JOBS REPORT: Employers added only 54,000 new workers in May, the fewest in eight months and below what analysts were expecting. Private companies hired the fewest new workers in nearly a year. The unemployment rate inched up to 9.1 percent from 9 percent.
**************************************
[Only registered and activated users can see links. ]
Dow, S&P fall for fifth-straight week
By Ken Sweet, contributing writer June 3, 2011: 4:34 PM ET
NEW YORK (CNNMoney) -- U.S. stocks fell sharply on Friday, with the Dow and S&P falling for the fifth-straight week, as investors digested a disappointing May jobs report.
The Dow Jones industrial average (INDU) lost 97 points, or 0.8%, to end the week at 12,151. The Dow is on its longest weekly losing streak since July 2004.
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
This would speed things up with Wall Street choking on it's own bs spit if these banks starts to bit the dust. Even if our Corp Govt bails them out ..... that just about sinks the US Govt's own little rating while 'still' humpin' beaucoup bucks into Goober's Crusades.
[Only registered and activated users can see links. ]
Moody's says Bank of America, Citigroup and Wells Fargo may no longer be too big to fail
In a statement accompanying the announcement, Moody's senior vice-president Sean Jones said the Dodd-Frank Act makes clear the government "does not want to bail out even large, systemically important banking groups." One provision of the Dodd-Frank Act, signed into law last July, aims to make it easier to break up large financial institutions instead of bailing them out.
Moody's currently rates Bank of America Aa3, Citigroup A1 and Wells Fargo Aa2. Those ratings are between three and five notches higher than where they would be without government backing.
But the banks won't lose all of that ratings cushion. Moody's said Citigroup and Bank of America's improving financial strength may temper the size of any rating cuts. The rating agency also says banks are unlikely to lose all federal government support.
The Canadian PressBy The Associated Press | The Canadian Press – Thu, 2 Jun, 2011
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
Plus, how BoA has been able to avoid a major meltdown from a major corruption scandal via a publicized court hearing is beyond me. This coming Oct / Nov is gonna be one shaky time in US history ... again. I'm not so sure if Wall Street will even make it on the other side of this summer now.
I Bring a Backbone of FirePower for Potential Peace ~ Scout****************************************************************************
**The Joke is On Us True Progressives**
6/12 - Romney's record at Bain "Sterling"~ praised Bill Clinton
From 'the President's Club':
*After Nixon died, Clinton compared the death with the loss of his mother
*Clinton came to rely on Nixon’s advice
*Nixon ingratiated himself with so many of his successors, particularly Mr. Clinton.
*George H.W. Bush’s ... relationship with Bill Clinton has grown so close
*Clinton is now referred to in the Bush family as the “Brother From Another Mother”
*Mr. Clinton / George W. Bush, who have become unexpectedly close and also worked on joint endeavors
Well, Howard Dean agrees with you.
He told The Hill yesterday that if the economy doesn't improve, even Sarah Palin could elected in an economic downturn.
One of the reasons Carter was not re-elected, the only Democratic President of the 20th Century that wasn't re-elected, was because of the economy.
The Federal Reserve wouldn't loosen the money supply, and wouldn't lower interest rates while inflation was galloping along after the Vietnam War ended.
Iraq - Another Bright Shining Lie
I think it's going to depend on how the indies perceive the cause of the lack of jobs. That's partly about message, but partly not; you can't fool all the people all the time. Democratic messaging on this point has to be loud, widely repeated, and factually correct if we're to retain the power to fix the problems.
Posting Permissions
Reply With Quote
Bookmarks