Skip to comments.World Markets Slide Further; Japan's Nikkei Hits 26-Year Low(back to 1982)
Posted on 10/27/2008 6:31:41 AM PDT by TigerLikesRooster
World Markets Slide Further; Japan's Nikkei Hits 26-Year Low
Monday, October 27, 2008
HONG KONG World markets resumed their slide Monday, with Japan's Nikkei stock index falling to a 26-year low, as government rescue measures failed to ease fears of a prolonged global recession.
(Excerpt) Read more at foxnews.com ...
It is now 7,162.90 on Oct. 27, 2008, 82% down from the peak.
They never cleaned the bad assets out of their banking system. Let that be a lesson to the spineless and clueless in our Executive branch.
Run those same numbers for the Nasdaq, and from the market peak on March 10, 2000, the Nasdaq has dropped 70% to 1525.96 (as of 9:45 today.)
Then came the crash. Trillions were wiped out in the combined collapes of stocks, credit markets and housing.
The Japanese government began to subsidize failing banks and failing businesses, hoping to re-open the spigots of capital flows. It failed.
This program created "zombie businesses" whose entire business model was to take low-cost government subsidies, and either deposit them in bank accounts or just buy government debt. The result was the "lost decade" of crushing stagnation. Today, the Nikkei is still down over 80% over 20 years, and housing prices are down 40% over 20 year.
Washington, thy name is Tokyo.
Washington ==> Washington/London/Brussels
Asian stocks are old news. Europe rebounded and now the Dow is up.
Apologies to all...
Fascinating articles, Tiger, please keep ‘em coming.
I think what expat was trying to say was:
BUY! BUY! BUY!
(with sarcasim I would imagine/hope)
That was at 10:21 this morning. The sell point was at 1:41PM, leaving a 2% profit in 3 hours 20 minutes. OK, two percent might not seem like much, but in one year this can turn $100 into $10 million.
as much as the world hates us,
they still need us.
what’s that you’re using to generate buy and sell signals?
My buy signals are whenever 21twelve says that I was trying to say "BUY!". My sell signal is the next low point. OK, I realize this system only works after the fact, but that flaw never stops most of the self-appointed gurus selling newsletters.
However, anyone who actually wants to make money needs to have predictive signals, which is why I was pleased with Investor's Business Daily's recommendation two months ago to go 100% cash. fwiw, these days they're saying to get ready for the next rally...
“OK, I realize this system only works after the fact, but that flaw never stops most of the self-appointed gurus selling newsletters.”
LOL! And thanks for the link to the IBD.
What about the long-term investor that is ignorant (like me). I look at this Federal Debt, bad credit that is STILL out there, and these bailouts that seem to be bandaides on a hemoraghing patient?
I bought most in the pre market, had almost all gone by 2:30 when we got the lift, then started accumulatiing one I've been waiting to dip, nabbed another, and unloaded one that had wore out it's welcome soon as it broke even.
And then there was my son's account...actually it was alot simpler - started with all cash, 3 buys, 3 sells, done.
I actually thought the whole day was going to be pretty dead, but had a productive day.