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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: Alberta's Child

“With that in mind, why would anyone decide not to invest for the long term?”

Because $18T in debt and trillions more in unfunded entitlements is not sustainable.

I’ve invested plenty, made plenty, and have gone Galt at 53. I won’t be supporting the fascist beast any longer and will live off of investments taken out very carefully to avoid paying taxes. And if/when the collapse happens, whether it’s hyperinflation followed by a depression or vice versa, I won’t be affected because I’m living the simple life I want, regardless of what happens elsewhere.

If you think an increasingly fascist country with a debt like Greece without anyone to bail her out has a positive economic outlook, go for it.

But as they say with all investments, past performance is no indication of future returns.


321 posted on 08/24/2015 6:57:27 PM PDT by Hardens Hollow (Couldn't find Galt's Gulch, so created our own Harden's Hollow to quit paying the fascist beast.)
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To: Hardens Hollow

Jim Cramer was on DNCmsNBC tonight reflecting on the late 1990’s.

As if now is any comparison to then. Oh he’ll admits it will go lower but was talking like it will rebound.

Maybe he’s hoping for QE4 and then some.


322 posted on 08/24/2015 7:54:52 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
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To: Hardens Hollow

If you’re truly going to “Go Galt” then you probably don’t need money anyway. But that doesn’t sound like what you’re doing. How do you plan to “live off of investments” if you have no faith in the underlying financial system? What are these investments?


323 posted on 08/24/2015 8:05:18 PM PDT by Alberta's Child ("It doesn't work for me. I gotta have more cowbell!")
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To: Alberta's Child

My financial resources and how I am living a simple life closer to nature and God are none of your business. “Going Galt” does not mean living off the land, BTW. Reread Atlas, if you have lots of free time. Your ignorance is showing.

Especially since you are attacking me for no reason and trying to make me defend a false straw man argument. I won’t waste my time.

If you are shaken by stock market losses, you still don’t need to be obnoxious to those that got out 2 weeks ago.


324 posted on 08/24/2015 9:06:42 PM PDT by Hardens Hollow (Couldn't find Galt's Gulch, so created our own Harden's Hollow to quit paying the fascist beast.)
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To: catfish1957

A good catfish always knows where the bottom is.


325 posted on 08/25/2015 5:52:28 AM PDT by RipSawyer (Racism is racism, regardless of the race of the racist.)
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To: RipSawyer

Some good news for some of is old folk today, Long bonds rates are up 4.25%. as I speak. Would love to finally see some traction on interest rates.


326 posted on 08/25/2015 8:56:15 AM PDT by catfish1957 (I display the Confederate Battle Flag with pride in honor of my brave ancestors who fought w/ valor)
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To: RipSawyer

Great comment!


327 posted on 08/25/2015 9:59:52 AM PDT by miserare (Trump--the Andrew Dice Clay of the Republican Party.)
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To: abb
Looks like we will be in “weakness” mode for a while. ; )

People are talking worldwide recession.

328 posted on 08/25/2015 2:59:09 PM PDT by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: dfwgator
Market goes up market goes down....nothing new under the sun. This too shall pass.

Exactly.
Determine your asset allocation.
Invest in inexpensive index funds.
Ignore the background noise.
Stay the course.

(Google "John Bogle")
329 posted on 08/25/2015 4:22:56 PM PDT by AZ_Rat
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To: plain talk

While others bury their heads in the sand and whistle Dixie. Go figure.


330 posted on 08/25/2015 7:09:21 PM PDT by jwalsh07
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To: abb
I saw that. I just filled an order for XOM @ 68.26, for a yield of 4.27%.

Well at this moment 75.51, and a 2.92 annual dive gives you an effective ROI of 10.6% in a week. YOU RE DA MAN!!!!!!!!!

As you may remember, I had nine equities that I had the trigger finger on. One came within 3%, another 8%, the other 7 didn't get within 10%. Sigh, sometimes the greedy lose. In any case good job, in retrospect, I wish I had added to my XOM position at that price.

331 posted on 08/28/2015 8:26:24 AM PDT by catfish1957 (I display the Confederate Battle Flag with pride in honor of my brave ancestors who fought w/ valor)
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To: catfish1957

That 68.26 price will be averaged against an order @ 75.43 that I had filled on Friday. Average is about 72 or so. I’m satisfied. I’ve never been able to squeeze out the last few points, up or down. If I were that good, I would be at my lodge up in the Canadian Rockies, or lounging about on my 350’ yacht off the Riviera, and not worried about what the riffraff is doing.

It was interesting to read your “manifesto” about saving, investing, spending, etc, and how they parallel most all the same things I do.

It never ceases to amaze me that otherwise intelligent people never understand that those timeless strategies work every time they’re tried.

You can’t imagine how many times I’ve been accused of being “lucky,” or that I’m a “Scrooge,” etc.

A difference of opinion with most everyone else, I guess. But that’s what makes a market.


332 posted on 08/28/2015 10:07:53 AM PDT by abb ("News reporting is too important to be left to the journalists." Walter Abbott (1950 -))
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