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Dow drops over 200 points after US factory data disappoints
nbcnews.com ^ | February 3, 2014 | Kate Gibson

Posted on 02/03/2014 9:19:06 AM PST by John W

Disappointing factory data sent stocks falling hard on Monday, with the Dow dropping over 200 points and extending losses after its worst monthly percentage drop since May 2012.

The markets had wavered ahead of the report from the Institute for Supply Management (ISM) which said its index of national factory activity fell to 51.3 last month, to its lowest level since May 2013, from a recently revised 56.5 in December.

(Excerpt) Read more at nbcnews.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:
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To: Para-Ord.45

61 posted on 02/03/2014 11:00:09 AM PST by blam
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To: Wyatt's Torch

Is that after the -300 pts last week, or did they go back up and back down? Volatility was happening for months before the crash of 2008....and when market is unstable.


62 posted on 02/03/2014 11:00:47 AM PST by Kackikat
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To: John W
I can see DJIA stabilizing at around 12,000, then the bargain hunters with US$2 TRILLION in cash buy up stocks at discounted prices to make a long-term "killing."
63 posted on 02/03/2014 11:05:18 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: John W
How many more turds can Obama drop in the punchbowl?

Texas has been letting people know that the state created over 30% of the Nation's jobs in the last decade. In the next one it will easily be over half with Obamacare still floating.

64 posted on 02/03/2014 11:09:54 AM PST by alrea
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To: John W
Welcome to Obamanomics! And you liberals thought increasing taxes by how many trillions of dollars would NOT hurt the economy? I won't even mention the world of hurt ObamaCare is inflicting on the nation.
65 posted on 02/03/2014 11:13:55 AM PST by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: John W

Blah, blah, blah.


66 posted on 02/03/2014 11:19:13 AM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: Wyatt's Torch

Sell mill quantity steel to OEM and distribution (independent rep for a number of different ones) and then we own a manufacturing company specializing in roll threading of steel bar.


67 posted on 02/03/2014 11:29:57 AM PST by MNlurker
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To: Wyatt's Torch

78.7% Average mfrg capac util rate 1972-2012;

77.2% Dec. 2013 (mining is doing a little better);

http://www.federalreserve.gov/releases/g17/current/;

2008 is not a good base year for comparisons;

http://www.federalreserve.gov/releases/g17/current/ipg1.gif;


68 posted on 02/03/2014 11:31:44 AM PST by Bill W was a conservative (Profile, detain, interrogate, deport.)
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To: fwdude
Cash accounts.

Surely, you're losing money in those cash accounts from inflation. Does that not concern you?

69 posted on 02/03/2014 11:32:01 AM PST by Lou L (Health "insurance" is NOT the same as health "care")
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To: Lou L

I said that there were other reasons I am not participating in the equity markets. I don’t care that I am losing on inflation, of which I am fully aware.

War is hell, in every way. If going completely broke for love of my country and what it historically stands for, I would.


70 posted on 02/03/2014 11:48:40 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: dragnet2

Wait for the 3 pm sell off.


71 posted on 02/03/2014 11:55:06 AM PST by SkyPilot
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To: Lou L

Short term cash may be the best way to go for now, though...
Unless you can do a quick conversion from securities to physical metals.


72 posted on 02/03/2014 11:56:41 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Bill W was a conservative

It is for our business :-) We peaked in 2007 and started falling off in 2008. 2009 fell off the table.


73 posted on 02/03/2014 12:16:44 PM PST by Wyatt's Torch
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To: MNlurker

Okay thanks. We run multiple foundry’s and manufacture iron and brass products.


74 posted on 02/03/2014 12:18:35 PM PST by Wyatt's Torch
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To: All

Down 293.29(1.87%) 3:32PM EST


75 posted on 02/03/2014 12:32:30 PM PST by John W (Viva Cristo Rey!)
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To: SkyPilot

-309


76 posted on 02/03/2014 12:32:52 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: John W

Yep, my Proctor & Gamble stock is in the toilet. I’m afraid to check it anymore. At least I have the dividend to look forward to this month.


77 posted on 02/03/2014 12:43:08 PM PST by Tennessee Conservative
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To: dragnet2
From the news:

"There's a risk-off feel," Perkin says. "U.S. corrections are healthy. It's how you avoid bubbles by having speed bumps in the road. To say the U.S. market is overdue for a correction is maybe the understatement of the year. The free ride is over and fundamentals will matter more now that the Fed is printing less money."

Well, there it is. There are still some who don't want to know the truth. The shout: "LALALALA.....I can't hear you!!!" The Fed has created ficticious money, which the vampires and thieves have gorged themselves on.

I think that if there is a big enough "correction" you could see real panic. Here is the other little problem: we have between 40,000 to 50,000 people in this country retiring per week. Many of them are heavily reliant on stocks to keep their IRAs afloat.

If the damage is worldwide at some point in the future, and things are bad enough in the US, I can foresee a nationalization of retirement accounts.

People call me crazy, but I really do see that as a possibility. Obama's new "MYRA" program will result in more and more people claiming vestment in government guarantees to their retirement funds. People have already been burned again and again by shaky markets. Panic and Fear are their own great motivators.

It isn't all that crazy either. The Bible says there will eventually be a one world government and currency (who knows exactly when). A precursor of that could be on the horizon.

78 posted on 02/03/2014 1:06:19 PM PST by SkyPilot
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