The stumbling Global Market ?

[sapodila]

Look at........
http://www.forbes.com/markets/2008/10/0 ... popstories (http://www.forbes.com/markets/2008/10/07/iceland-landsbanki-kaupthing-markets-equity-cx_ll_1007markets05.html?feed=rss_popstories)

and Here am sitting and listening to folks advice on how to invest in Euros' :roll:

[oecarb]

Look at........
http://www.forbes.com/markets/2008/10/0 ... popstories (http://www.forbes.com/markets/2008/10/07/iceland-landsbanki-kaupthing-markets-equity-cx_ll_1007markets05.html?feed=rss_popstories)

and Here am sitting and listening to folks advice on how to invest in Euros' :roll:

And what is wrong with that?

Iceland is not in the EU and does not use euros. The fear was that EU folk who had their money in this bank might not be covered.

In any case:


Oct. 7 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke signaled policy makers are ready to lower interest rates as the credit freeze poses an escalating danger to the economy.

The world financial system is under ``extraordinary stress'' and history shows that severe instability ``can take a heavy toll on the broader economy if left unchecked,'' Bernanke said in a speech in Washington. ``The Federal Reserve will need to consider whether the current stance of policy remains appropriate.''

Today's remarks indicate the central bank's record loans to unblock credit markets are insufficient to prevent a deeper economic downturn. Investors increased bets the Fed will cut its main rate by as much as three-quarters of a point this month after stock indexes slumped to four-year lows and premiums on loans between banks climbed to a record.

http://www.bloomberg.com/apps/news?pid= ... refer=home (http://www.bloomberg.com/apps/news?pid=20601087&sid=aA7fGYWlJLp0&refer=home)

The efforts of the US govt and the Fed have not had any effect on the economic situation so far. They are depending now on foreigners investing. However, if they lower interest rates, who would want to invest in the USA? And what do you think the dollar would be worth in the next few weeks?

[batman]

[The efforts of the US govt and the Fed have not had any effect on the economic situation so far. They are depending now on foreigners investing.

This is one of the reasons for the economic instability in the first place.

[sapodila]

Oct. 8 (Bloomberg) -- The Federal Reserve, European Central Bank and four other central banks lowered interest rates in an unprecedented coordinated effort to ease the economic effects of the worst financial crisis since the Great Depression.

The Fed, ECB, Bank of England, Bank of Canada and Sweden's Riksbank each cut their benchmark rates by half a percentage point. The Bank of Japan, which didn't participate in the move, said it supported the action. Switzerland also took part. Separately, China's central bank lowered its key one-year lending rate by 0.27 percentage point.

Today's decision follows a global meltdown that sent U.S. stock indexes heading for their biggest annual decline since 1937; Japan's benchmark today had the worst drop in two decades. Policy makers are also aiming to unfreeze credit markets after the premium on the three-month London interbank offered rate over the Fed's main rate doubled in two weeks to a record.

``Central banks of the world have finally woken up to the gravity of the current situation,'' Charles Diebel, head of European rates strategy at Nomura International Plc in London, wrote in a note. ``It is not potentially not the last we will see of central bank activity particularly in Europe as the macro situation is still weakening dramatically.''

Rate Levels

The Fed reduced its benchmark rate to 1.5 percent. The ECB's main rate is now 3.75 percent; Canada's fell to 2.5 percent; the U.K.'s rate dropped to 4.5 percent; and Sweden's rate declined to 4.25 percent. China cut interest rates for the second time in three weeks, reducing the main rate to 6.93 percent.

[Beetle]

This is the downside of globalisation. (as someone else wrote somewhere on this forum)

[sapodila]

Notice every time Benake opens his mouth how the markets reacts downhill ?

[miktay]

These people could give Tommy Joseph a run for his money oui...



By COLLEEN SLEVIN, Associated Press Writer
13 minutes ago

DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it.

Pelosi told reporters that the stock market meltdown, which has caused an estimated $2 trillion loss from pension funds, was a factor in her recommendation for a second stimulus bill. The first relief plan sent out $600-$1,200 tax rebate checks to most individuals and couples this year.

The House did pass a $61 billion economic aid proposal last month before lawmakers left Capitol Hill ahead of the Nov. 4 election. But a similar plan failed to pass the Senate. President Bush had promised a veto anyway.

[sapodila]

[quote]These people could give Tommy Joseph a run for his money oui...

ent?!

By COLLEEN SLEVIN, Associated Press Writer
13 minutes ago

DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it.

Pelosi told reporters that the stock market meltdown, which has caused an estimated $2 trillion loss from pension funds, was a factor in her recommendation for a second stimulus bill. [quote:2yjpvk41]The first relief plan sent out $600-$1,200 tax rebate checks to most individuals and couples this year.Bush's bad judgement of bad judgements! :roll: ... an I eh get none eh :evil:

The House did pass a $61 billion economic aid proposal last month before lawmakers left Capitol Hill ahead of the Nov. 4 election. But a similar plan failed to pass the Senate. President Bush had promised a veto anyway.[/quote:2yjpvk41][/quote:2yjpvk41] I can't understand why fight for something you know will ultimately hit the brick wall anyways!

[miktay]

Most people could use some levity right now even if its at the risk of laughing at themselves....

So on lighter note...


STOCK MARKET TERMS for 2008 and beyond.

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A short-term random market movement
causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get
no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling
lower.

P/E RATIO -- The percentage of investors wetting their
pants as the market keeps crashing.

BROKER -- What my stock adviser has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split
your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been
disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it
disappears down the toilet.

YAHOO -- What you yell after selling it to some poor
sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker
who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now
locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

[greall]

Most people could use some levity right now even if its at the risk of laughing at themselves....

So on lighter note...


STOCK MARKET TERMS for 2008 and beyond.

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A short-term random market movement
causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get
no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling
lower.

P/E RATIO -- The percentage of investors wetting their
pants as the market keeps crashing.

BROKER -- What my stock adviser has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split
your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been
disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it
disappears down the toilet.

YAHOO -- What you yell after selling it to some poor
sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker
who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now
locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

That's ridiculously funny... :lol:

Greg

[sapodila]

Considering ah can't get a hold of meh broker, I am laughing out loud......very loud miktay :lol:

[mammadon]

Look at........
http://www.forbes.com/markets/2008/10/0 ... popstories (http://www.forbes.com/markets/2008/10/07/iceland-landsbanki-kaupthing-markets-equity-cx_ll_1007markets05.html?feed=rss_popstories)

and Here am sitting and listening to folks advice on how to invest in Euros' :roll:

I guess goodbye capitalism and hello collectivist economics... :roll:

[sapodila]

Look at........
http://www.forbes.com/markets/2008/10/0 ... popstories (http://www.forbes.com/markets/2008/10/07/iceland-landsbanki-kaupthing-markets-equity-cx_ll_1007markets05.html?feed=rss_popstories)

and Here am sitting and listening to folks advice on how to invest in Euros' :roll:

I guess goodbye capitalism and hello collectivist economics... :roll:

I remember as small child growing up in Trinidad, my uncle digging up a pitchoil tin ( 'time capsule' :lol: ) from my grand parents back yard. They said that they had to hide the loot because of the war ( ww11 ) shortages, rations, etc.. Guess the time is soon coming to resort to those measures in today's world eh :roll:

[oecarb]

I guess goodbye capitalism and hello collectivist economics... :roll:

Colective economics does not necessarily mean the end of capitalism. It could be just a different form of capitalism as exists in the European Union where Capitalism is harnessed to provide welfare for the weak, the sick and the dispossessed.

Capitalism is powered by greed but is good in creating wealth. Western European governments consider that they have a duty to their citizens so they are willing to help capitalism so that wealth can be produced and taxes collected to create jobs or to pay unemployment benefit, housing allowance, provide health care, education etc for citizens.

As I said before in another thread, think Mecedes Benz and Porsche and Lamborghini. Think Airbus, the largest passenger plane in the world.

Germany exports almost as much as China. China has a Communist government. They both use capitalism to create wealth for their populations.

So maybe Goodbye American Capitalism.

[greall]

The Americans can't buy their way out of this problem as much as they think that they can.

The NYSE opens tomorrow morning and I'm looking to see if my holdings will decrease in value yet again.

Anyone want crisp share certificates going as 'virgin toilet paper'?

Greg

[mammadon]

I guess goodbye capitalism and hello collectivist economics... :roll:

Colective economics does not necessarily mean the end of capitalism. It could be just a different form of capitalism as exists in the European Union where Capitalism is harnessed to provide welfare for the weak, the sick and the dispossessed.

Capitalism is powered by greed but is good in creating wealth. Western European governments consider that they have a duty to their citizens so they are willing to help capitalism so that wealth can be produced and taxes collected to create jobs or to pay unemployment benefit, housing allowance, provide health care, education etc for citizens.

As I said before in another thread, think Mecedes Benz and Porsche and Lamborghini. Think Airbus, the largest passenger plane in the world.

Germany exports almost as much as China. China has a Communist government. They both use capitalism to create wealth for their populations.

So maybe Goodbye American Capitalism.

I mean collectivist economics as in the opposite of capitalism. Capitalism obviously means private ownership of the means of production and free market ideas are supposedly being discredited now. I guess i was just being facetious.

And in the USA there is unemployment benefit, state education, housing allowances, etc. No country in the world is a total free market, or even a total command economy. Even Cuba and North Korea have some private ownership and it's kind of like a spectrum.

[oecarb]

I mean collectivist economics as in the opposite of capitalism. Capitalism obviously means private ownership of the means of production and free market ideas are supposedly being discredited now. I guess i was just being facetious.

And in the USA there is unemployment benefit, state education, housing allowances, etc. No country in the world is a total free market, or even a total command economy. Even Cuba and North Korea have some private ownership and it's kind of like a spectrum.

It is a spectrum with American Capitalism on one end and state capitalism (as in China) on the other end with countries like the EU countries in between.

In American Capitalism, the government butts out and imposes minimum regulations and minimum taxes on businesses in the belief that they will create wealth which will trickle down to the poorest membe of society - if he/she puts in the effort.

In state capitalism, the government is willing to invest in companies and take a share of the profits. This is then used for the benefit os the citizens.

With western European Capitalism/Socialism, the government may or my not buy shares in companies and take a share of the profits. Companies are more strictly regulated and trade unions are often allowed on the boards of companies. Individuals and companies pay higher taxes than in the USA. This is then used to provide housing, universal health care, unemployment benefits etc. In addition, it is also used to prop up wages and salaries if the individual's earnings are not sufficient for him to maintain a decent standard of living.

So two men might both be earning the minimum wage but one might be single and the other might be married with six kids. The state would then step in to give the second fellow more money to support his six kids and housing benefit if he has to rent a larger house so he could end up with an income more than twice that of the single man.

[Scorpio]

In spite of the efforts of the US and EU governments, the world economy is not responding positively. The dow is down 700+ points today, the second biggest drop ever.

Left to market forces only, i.e with no government intervention, this would have been an insurmountable global financial disaster.

[guyguy]

Last December I told my relatives in Canada to buy USD. I think it was trading somewhere at $1.05USD to $1.00CDN. Many did. Last week the CDN was down to $1.19CDN to $1.00USD. They sold. Those that did made a few bucks.

[oecarb]

Those that did made a few bucks.

Canadian or US? :lol:

[guyguy]

Those that did made a few bucks.

Canadian or US? :lol:
Euros. Wat yuh tink? :D :D :D

[oecarb]

Those that did made a few bucks.

Canadian or US? :lol:
Euros. Wat yuh tink? :D :D :DI'd go for £££££££ now. :twisted: :twisted: :twisted: