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Panic: S&P down over 6%, Dow down over 5%
Bloomberg Terminal | 10/6/08 | Me

Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo

Looking at hugh panic in global mkts right now. This is vey series.

Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: australian; bailout; djia; moneylist; stockmarket; votingwithpocketbook
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To: Boonie
If anyone has any money to invest, BUY NOW!!!!!!!!!!!!!!!

I hereby nominate you for the "Stupid Post of the Day" award.

If you had even a modicum of financial sense you would see that this problem is getting exponentially worse (like many of us have been writing about for weeks).

The Fed is about to step in and offer the discount window to U.S. states, municipalities, and companies - and you're advising people to buy stocks? Not very wise advice my FRiend.

161 posted on 10/06/2008 8:27:30 AM PDT by politicket (Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
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To: elpadre

Why would it help?


162 posted on 10/06/2008 8:27:44 AM PDT by Thane_Banquo ("They aren't people! They're the ACLU!" - General Patton in An American Carol)
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To: Thane_Banquo

Sure wish you hadn’t included the word PANIC.


163 posted on 10/06/2008 8:28:11 AM PDT by sarasota
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To: b4its2late

Wouldn’t be surprised if those in charge, have “The One” (puppet on a string) spun up to speed for getting ready to go on the attack against the only hope we have. That would be a woman who made money the old fashioned way, and is seeking the vice presidency.


164 posted on 10/06/2008 8:28:16 AM PDT by Issaquahking (Maverick Barracuda voter!)
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To: NVDave
I speculated here on FR last week that if a big country in the EU (like Germany or France) pulled Ireland’s stunt, that it could spell the end of the Euro.

I've been saying for years that the Euro and the EU itself were not going to last, simply because of Europe's intense history of nationalism and war. The U.S. is a real "economic union" because that union is bathed in the blood of our Civil War. Union between states doesn't come easy, and certainly not by signing some agreement in Brussels.

165 posted on 10/06/2008 8:28:44 AM PDT by LikeLight (http://www.believersguidetolegalissues.com)
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To: b4its2late

McCain was forced to agree thanks to Bush being suckered by Paulson.
The Obama media would have crucified McCain if he voted NO !
He would have been blamed for the mess today ???

I dont know what fair and balanced media you’ve seen .
I see a Obama media that will spin anything to make McCain look BAD !


166 posted on 10/06/2008 8:29:00 AM PDT by ncalburt
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To: Norman Bates
This is an orchestrated collapse.
The GOP lightweights in washington got suckered into believing Paulsen and the Pelosi congress BS about the bailout being absolutely needed. it was a lie, as is everything that comes out of their mouths. Smart Conservatives and conservative economists said the market would, and needed to correct itself. No one listened. now we have the worst of both worlds- the market tanks, which helps the non-incumbent party, AND we are stuck with a socialist bailout bill. Idiots
167 posted on 10/06/2008 8:29:05 AM PDT by Canedawg (If the law supposes that, said Mr. Bumble, the law is a ass, a idiot.)
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To: Future Snake Eater

>>We have it all undoo contwol.<<

LOL..
just like the captain of the Titanic..

and he’s standing right next to “Mr. We Don’t Know What To Do”


168 posted on 10/06/2008 8:29:13 AM PDT by evad (.!.)
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To: sarasota

Well, it is accurate with what I’m seeing in the market.


169 posted on 10/06/2008 8:29:26 AM PDT by Thane_Banquo ("They aren't people! They're the ACLU!" - General Patton in An American Carol)
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To: Thane_Banquo

Most here knew this would happen, which is why the bailout was flat out wrong. Watch. The Dems will ask for ANOTHER bailout. Screw them all.


170 posted on 10/06/2008 8:29:33 AM PDT by rintense (Chuck Norris wears Sarah Palin pajamas.)
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To: Thane_Banquo
Australian dollar off almost 8.6% on the day against the USD.
One bank said they are seeing literally NO BIDS in the Australian dollar,
which is huge considering that you can usually trade several million
with the click of a mouse.


I'm an absolute moron on valuations of currencies.

But your report on the Austalian dollar seems shocking to my
naive brain.
As the last page of the editorial pages of The Wall Street Journal
(just before the last "A" page that usually is just a big advert)
is penned by an Australian summing up the situation of how liberal
the US mortgage system (no-recourse home loans) is versus the
conservative (sensible in VOA's book) nature of mortgages in
Australia.
171 posted on 10/06/2008 8:29:44 AM PDT by VOA
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To: Newtoidaho

Some of it is. A larger part of it is de-leveraging. Hedge funds are getting crush with redemption demands.

Right about now, the “funds of funds” are pulling their money out in a fat hurry.


172 posted on 10/06/2008 8:30:19 AM PDT by NVDave
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To: NVDave

What exactly does Obama have going for him to save the economy, to make people see he has a real plan?


173 posted on 10/06/2008 8:30:45 AM PDT by sarasota
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To: VOA

Australian banks are having problems as well, and their economy is dependent on China and commodities doing well.


174 posted on 10/06/2008 8:30:49 AM PDT by Thane_Banquo ("They aren't people! They're the ACLU!" - General Patton in An American Carol)
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To: palmer

I expect a 1.0% rate cut. And I expect it to have no impact on the liquidity crisis. Japan’s rates are still at 0.5% and little good they have done for economic growth. We are going the same way.


175 posted on 10/06/2008 8:30:52 AM PDT by Freedom_Is_Not_Free
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To: uncbob

The Government and Culture has made sure that every American feels a sense of entitlement, and that any and all risks should ultimately be borne by the Public as a whole.

Anything that is “unfair” must be remedied by a heavy handed authority and personal responsibility is now racism.


176 posted on 10/06/2008 8:31:14 AM PDT by Boiling Pots (Hey B. Hussein, are you going to prosecute me now?)
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To: ari-freedom

Some of us warned about the Patriot Act in the wrong hands. I think we are soon to find out just how prophetic that was.


177 posted on 10/06/2008 8:32:12 AM PDT by redangus
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To: Freedom_Is_Not_Free

Fed added $900 billion (with a B) in TAF auctions. Did jack nothing. Rate cut will only be a psychological band-aid. Nothing going on in the market is based on reason. This is pure emotion. Pure panic.


178 posted on 10/06/2008 8:32:14 AM PDT by Thane_Banquo ("They aren't people! They're the ACLU!" - General Patton in An American Carol)
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To: chimera

I hear there are many Americans living in CR. I can see the lure, warm turquoise water, sandy beaches, palm trees, nice weather, fresh seafood, etc.. I’ve dreamed about things like that myself.


179 posted on 10/06/2008 8:32:35 AM PDT by HollyB
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To: Thane_Banquo

bookmark


180 posted on 10/06/2008 8:33:41 AM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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