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Dow futures tumble as Wall Street preps for meltdown
CnbC ^ | 8/24/2015 | Jenny Cosgrove

Posted on 08/24/2015 4:00:11 AM PDT by EBH

U.S. stock index futures screamed lower, with Dow futures (Chicago Board of Trade: @DJ.1) tumbling more than 400 points, as fears surrounding the health of China's economy multiplied.

These concerns saw the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index notch up its biggest one-day percentage loss since 2007 on Monday, closing down 8.5 percent .

Panic spread to European markets, with the pan-European FTSEurofirst 300 (FTSE International: .FTEU3) as much as 3 percent in early London trading. All major bourses were off a similar amount. The index has shed over $1 trillion in market value in August so far.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Front Page News
KEYWORDS: china; commodities; futures; palinwasright; stockmarket; stocks
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To: SkyPilot

Yup! That’s the first waive of ‘haircuts’ and many people will be thrilled to have the ‘government’ protect their retirement, never realizing it was actually confiscated from them.


61 posted on 08/24/2015 5:42:41 AM PDT by EBH (There's a sucker born every minute)
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To: eartick

Let me know when it bottoms out so I can buy back in, too. :)


62 posted on 08/24/2015 5:43:53 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: EBH
The admin is letting this happen to make it look like we have a gloBULL economy. When in if fact the PPT will step in real soon and shore everything up. Probably today.

Do you really think the invisible hand is going to let the shock market crash on "his" watch?

63 posted on 08/24/2015 5:45:17 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

The whole point of QE Infinity was to keep the market from making the FBP look bad.


64 posted on 08/24/2015 5:48:38 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: VTenigma

No he won’t. He’s been waiting for this moment his whole presidency. And Democrats are not mathematically challenged. They hate America and want to see if collapse.


65 posted on 08/24/2015 5:49:08 AM PDT by demshateGod (The fool hath said in his heart, There is no God.)
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To: MrB

Good question and one that crossed my mind this morning while out walking the dog.

Here is where my pea brain went on the question:

If the market reflects future events, then this drop is a needed correction to the Fed floating the idea of raising interest rates in September.

With the current debt load rates have to come up sometime, but no previous government has successfully recovered in this manner. This is just a flash of lightening before the big collapse in September, why? Because the Fed will raise interest rates in September anyway. In fact, this flash will settle down and events will seem normal. This will cause the Fed to raise rates, not by the .25 base points, but the idiots will raise rates by .5 or .75 base points in September.


66 posted on 08/24/2015 5:49:12 AM PDT by EBH (There's a sucker born every minute)
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To: EBH

Of course, us little poor widows with tiny IRAs are being told not to “panic” and hang tough, while the billionaires freak out, sell sell sell, and leave us with nothing.


67 posted on 08/24/2015 5:50:17 AM PDT by left that other site (You shall know the Truth, and The Truth Shall Set You Free.)
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To: pgkdan

same here.


68 posted on 08/24/2015 5:51:54 AM PDT by VaRepublican (I would propagate taglines but I don't know how. But bloggers do.)
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To: SkyPilot

Ammo: the only sure investment.


69 posted on 08/24/2015 5:53:22 AM PDT by demshateGod (The fool hath said in his heart, There is no God.)
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To: EBH

Raise rates or simply pull the plug on the $85 billion a month they’ve been pumping into the stock market?


70 posted on 08/24/2015 5:53:39 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: left that other site

See posts 50 and 61

Way back prior to ...months prior to the 2008 election, they were already making plans to protect your little IRA, 401K, etc.

That plan has been maturing now for nearly a decade and they now need a ‘crisis’ to implement it.


71 posted on 08/24/2015 5:54:04 AM PDT by EBH (There's a sucker born every minute)
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To: left that other site

As I retired last year, I intentionally took a lump sum to the extent of the law in every account. I’d had the accounts cut in half twice before. All the annuity numbers I was given looked miniscule compared to my own future value calculations. The only conclusion for me was that the number crunchers at the financial houses were building in a huge drop in value of the funds.


72 posted on 08/24/2015 5:56:26 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their Victory!)
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To: xzins

Wouldn’t the last owner that couldn’t sell the stock still own it? When I was a kid I saw an old shack that had stock certificates as wall cover to keep the cold from coming through cracks. I asked my dad what they were, I remember they were so pretty, looked like art. I wondered later if the stock had recovered the certificates I saw may have been worth a lot of money. As to the tangible things a corporation owns if the company goes broke don’t the creditors take possession?


73 posted on 08/24/2015 5:57:18 AM PDT by Tammy8
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To: xzins

A corporation is just a type of business structure set up so that the individuals owners don’t directly pay the taxes and aren’t responsible directly for liabilities. This allows multiple owners to invest and make profit whereas they wouldn’t be able to do it individually. If you own stock, you do pay the taxes indirectly because the corporate tax lowers your profit, and you pay directly when you receive dividends. ( double taxation )

If corporations go bankrupt as you are questioning, they would have to sell their assets and pay any bond holders and then the stockholders may get anything left.


74 posted on 08/24/2015 5:58:32 AM PDT by Rusty0604
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To: Tammy8

I think you’re right about creditors. But, if they take the physical buildings, machines, etc., do they also have to take the now zero stock? Or is that just dead once it hits zero?


75 posted on 08/24/2015 5:59:41 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their Victory!)
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To: MrB

This is from last year and gives a good example of the pickle the financial world is in.

The Hawaiian Tropic Effect: Why the Fed’s Quantitative Easing Isn’t Over

http://www.bloomberg.com/bw/articles/2014-10-29/the-feds-quantitative-easing-is-not-really-ending


76 posted on 08/24/2015 6:00:33 AM PDT by EBH (There's a sucker born every minute)
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To: MeneMeneTekelUpharsin

Ha ha.


77 posted on 08/24/2015 6:01:40 AM PDT by 9YearLurker
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To: Rusty0604

So, any ‘owner’ would get anything left after paying the company’s debts? Makes sense.


78 posted on 08/24/2015 6:02:25 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their Victory!)
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To: EBH

Whatever.

Thanks to the Obama economy, I don’t have any money to put in the stock market anyways.


79 posted on 08/24/2015 6:03:20 AM PDT by Luircin
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To: Jack Hydrazine

Good to revisit when Cramer was right.


80 posted on 08/24/2015 6:03:44 AM PDT by 9YearLurker
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