Posted on 01/21/2008 12:38:38 AM PST by HAL9000
via translation -
The Stock Exchange of Hong Kong falling 5.5%
HONG KONG - The Hong Kong Stock Exchange finished very sharp drop Monday, the Hang Seng Index plunging 5.5% at the close, to finish in the 24,000 points to 23.818,86 points in the wake of Shanghai and substantive fears of recession in the United States, according to brokers.
The Asia Awards underwent Monday a new generalized tumble, investors expressing disappointment with the recovery plan of $ 140 billion proposed Friday by the American President George W. Bush and fearing the worst for the United States economy.
ALERT - European Bourses Fall of the opening
PARIS - The European stock exchanges fell Monday at the opening in fear of a worsening of the financial crisis and an economic recession in the United States.
Some of you remember the postings from FReeper Hydroshock 2 years ago on what he and a few of us others saw coming? He's not been on board to post for a while because he won't gloat or even seem to do so, because it turned his stomach to even 'talk' about it all.
We're going to pay a hefty price to the fiddler for this tune this time around. Inflation is rearing / has been it's head and just now starting to bite the rear ends of the lower to lower middle class workers / citizens /retirees. Uggghhh they ain't enough high income folks in country to stop it neither. Look for 8-8.5% unemployment soon, especially after the election.
The big money investors have pulled out or demand at least 15% to loan their money to the investment banks.
Banking reserves are negative that has not been seen before !
Yep, we’re going to need huge tax cuts, and government spending will have to slow for to a trickle. Tax rebates are more pork deficit spending that may have to be payed off long term.. The only thing that will be good is the lower dollar cost averaging for my long term strategy.
However, Jose and all his illegal cousins will be well taken care of by the nanny state. Time to deport the illegals in our prisons to help the state and federal budgets....especially the drug dealers, DUI offenders and fraud magicians.
in the mean time back at the ranch, old people are losing their 401k money left and right!! they are being robbed !! the bond market is next to fall !! someone better do something fast !! cut the damn rate to .5..........slow the hemorrhage donw and then heal the economy !! don’t sit there and let it go in the tank!!
any politician telling me that the illegals immigrants are good for the economy is lucky I am a Christian!!
I am goind busted and the politicians are insulting me!! I might start to hate some people !!!!
I’ve wondered sometimes about the ‘barely making it’ retired people. So, now we get poisoned food and products form Asia. They’re cheap...helps those on the fixed incomes. I no longer eat at ‘chep’ buffets. So, with more baby-boomers heading to retirement, are the Bildabergs, CFR, Trilateral Commission types hoping for a die off? A redistribution of wealth to the working?
chep=cheap
Going for more coffee.
Another 350 pt slide on the DOW today, anyone?
Exactly.
Is the market open today?
Nobody likes the plan except for W and Bernanke, yet they'll both think they are right and everybody else is wrong.
No.
I'd love to hear Greenspan's take on this mess.
Market is closed today.
Now that would be a buying opportunity. Strange times right now for sure.
(1) Bonds? too expensive
(2) Stocks?- on obvious bearish run
(3)Gold?- Forget it at near $1000/oz.
(4)Foreign and developing markets?- See US market times two.
(5)Real Estate (land only)?- With Dems coming to power for 4-8 yrs, I'd rather not take the extra tax hit
Bottom line right now, not a lot of safety nets. I have been long with 30 Year T bonds for some time now. Prob., best to stay that way until the ____ stops hitting the fan.
With the markets close today here in the US, futures are still being traded for the opening bell for those markets. I heard they, in general, are down. i bet ya the brokers and fund managers are in their respective offices for mandatory meetings, etc, trying to assess the impact and speed of the shakeout.
Bet ya few have the correct formula for the line fit for the slope of this downturn coming.
The only way W and Congress can truly re-establish confidence into the markets is to come out with a serious mindset to slash government spending as to balance the budget. Period. Reducing the prime will not help at this time. Reduce the prime for money to be borrowed that ain’t there? Think about it. Al that money is setting in unsold new homes and in the accounts of the CEO’s / branch managers of Countrywide, Wall Street brokers, fund managers, etc. that made tidy bonuses on the fraud up till last quarter.
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