 Stocks Crushed! Dow Jones, Dow down 778, worst points drop ever! |
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  Sep 29 2008, 04:03 PM
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#1
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CADET  Group: Senior Members Posts: 1 Joined: 8-November 03 From: Toronto Member No.: 3,177  |
Dow down 778, worst point drop ever, after the House rejects the $700 billion bank bailout plan.
Last Updated: September 29, 2008: 4:23 PM ET AMERICA'S MONEY CRISIS National City's line in the sand Wondering which bank is next Bank bailouts sweep Europe Stocks crushed NEW YORK (CNNMoney.com) -- Stocks skidded Monday afternoon, with the Dow's nearly 778-point drop being the worst single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan. Stocks tumbled ahead of the vote and the selling accelerated on fears that Congress would not be able come up with a fix for nearly frozen credit markets. The frozen markets mean banks are hoarding cash, making it difficult for businesses and individuals to get much-needed loans. (Full story) According to preliminary tallies, the Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines. The Standard & Poor's 500 (SPX) index was down 8.7% and the Nasdaq composite (COMP) 9.1%. "The stock market was definitely taken by surprise," said Drew Kanaly, chairman and CEO of Kanaly Trust Company, referring to the House vote. "If you watched the news stream over the weekend, it seemed like it was a done deal. But the money is being held hostage to the political process." Stocks had fallen from the get-go Monday morning. In addition to expectations for the bailout, there was also news that troubled Wachovia had to sell its banking assets to Citigroup. A number of European banks also collapsed. But the possibility that the House won't pass the bailout plan caused stock losses to accelerate. "It's a huge disappointment," said Jack Ablin, chief investment officer at Harris Private Bank. Ablin said the fact that stocks were down more than 200 points this morning ahead of the vote indicated that there was already skepticism that the plan would pass. Although another version of the plan will likely go before Congress, investors are concerned that passing the bill could be a more drawn-out process. And they are worried about how effective the proposed plan would be anyway, said Alan Gayle, senior investment strategist at RidgeWorth Investments. "We are charting new territory in policy tools and implementation with this program and there's no guarantee that it will work," Gayle said. "That a number of institutions haven't been able to last through the negotiations adds to the uncertainty," Gayle said, referring to Washington Mutual's failure on Friday and the buyout of Wachovia Monday. Stocks are also extremely choppy and volatile as Wall Street moves to the end of the third quarter. Financial institutions and funds are expected to have their books settled before Wednesday, so there is a lot of last-minute scrambling, Gayle said. Treasury prices rallied, sending yields lower, as investors sought safety in government debt. Government rescue plan: Congress had supposedly reached a compromise on the $700 billion bank bailout plan Sunday, but the House voted against the bill Monday. The bill is based around Treasury Secretary Henry Paulson's initial plan to buy up bad mortgage debt from banks as a means of getting them to lend to each other again. However, Congressional lawmakers added provisions to protect taxpayers and enable them to benefit if the companies do as well. (Full story) On Monday, President Bush and Federal Reserve Chairman Ben Bernanke praised the bill and urged Congress to pass it quickly. Investors also remained skittish amid more bank turbulence - and banks continued to hoard cash. Meanwhile, the Federal Reserve and other central banks around the world announced steps Monday to make billions available to troubled banks. Wachovia: Citigroup is buying the company's bank assets in a $2.2 billion all-stock deal that will see the company hold onto its brokerage business and remain afloat, albeit in a smaller form. The deal calls for Citigroup to absorb up to $42 billion in losses and the Federal Deposit Insurance Corp. to be responsible beyond that. Citigroup will give the FDIC $12 billion in preferred stock and warrants in exchange. (Full story) Wachovia (WB, Fortune 500) shares began trading at around 2:30 in the afternoon, plunging 80%. Citigroup (C, Fortune 500) fell 3%. Last week, JP Morgan Chase (JPM, Fortune 500) bought Washington Mutual (WM, Fortune 500), after it suffered the largest failure ever of a U.S. bank. On Monday, regional bank National City (NCC, Fortune 500) slumped 61% on worries that it might be next. Other regional banks dropped too. Bank of New York (BK, Fortune 500) fell 24%, Fifth Third Bancorp (FITB, Fortune 500) fell 38% and Regions Financial (RF, Fortune 500) fell 38%. Big banks fell too, including Goldman Sachs (GS, Fortune 500), Merrill Lynch (MER, Fortune 500) and Bank of America (BAC, Fortune 500). Market breadth was negative. On the New York Stock Exchange, losers beat winners 23 to 1 on volume of 1.30 billion shares. On the Nasdaq, decliners topped advancers by over six to one on volume of 2.24 billion shares. Global markets: Worldwide markets struggled. Asian and European markets ended lower after three European banks fell apart. Dutch-Belgian bank and insurance giant Fortis was given a $16.4 billion lifeline to avoid it collapsing. The British government nationalized battered U.K. bank Bradford & Bingley. Germany's financial regulators and several banks stepped in Monday to throw a line of credit to Hypo Real Estate Holding AG in a multibillion-euro move aimed at shielding the No. 2 commercial property lender. Credit markets: Businesses depend on the credit markets to function on a daily basis, and the absence of ready capital has threatened to stall the broader financial system. Several measures of bank fears surged Monday, suggesting that despite the bailout, banks remain worried. However, as with stock markets, the freezing up could be an immediate knee-jerk reaction that is mitigated once Congress passes the bill. Additionally, credit markets may have been more focused on Wachovia and the other distressed banks, than the bailout. The Libor-OIS spread, one gauge that banks use to determine lending rates, rose to a record 2.2%. Meanwhile, the TED spread rose to 3.322%, but was short of the 3.48% level it hit in the morning. That 3.48% level was the highest point since at least 1982. The TED spread is the difference between what banks charge each other to borrow for three months and what the the Treasury pays. When banks charge each other a higher premium than the U.S. government, that's a sign of fear. The three-month Treasury bill, seen as the safest place to park money in the short term, fell to 0.71% from 0.83% late Friday. It had been lower in the morning. Earlier this month, the three-month bill fell to a 68-year low around 0% as panic gripped financial markets. Long-term Treasury prices rose, lowering the yield on the benchmark 10-year note to 3.58% from 3.82% late Friday. Treasury prices and yields move in opposite directions. Treasury prices have been rallying recently and yields tumbling as nervous stock market investors have looked for safer areas to move their cash. Other stock movers: Apple (AAPL, Fortune 500) slumped 13% after RBC and Morgan Stanley analysts downgraded the stock to "neutral" from "buy" saying the consumer spending slowdown will hurt profits. (Full story) A variety of other big tech stocks slumped, including Intel (INTC, Fortune 500), IBM (IBM, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), Qualcomm (QCOM, Fortune 500), Cisco Systems (CSCO, Fortune 500), Dell (DELL, Fortune 500) and Applied Materials (AMAT, Fortune 500). All 30 Dow components fell. Oil and gold: U.S. light crude oil for November delivery fell $11.10 to $95.79 as investors bet that a slowing global economy means oil demand will keep dropping. Oil prices had plummeted over $55 after peaking at $147.27 a barrel on July 11, as investors bet that sluggish global growth will diminish oil demand. But prices have seesawed in the last few weeks as the financial crisis has intensified and investors sought to put their money into hard assets. COMEX gold for December delivery rallied $9.50 to $898.00 an ounce. Like oil, gold prices had also rallied during the biggest periods of unrest over the last few weeks Other markets: In currency trading, the dollar gained against the euro and fell against the yen. Gas prices fell for the 12th day in a row, according to a nationwide survey of credit card activity. |
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Sep 29 2008, 04:51 PM
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 GENERAL Group: Senior Members Posts: 4,475 Joined: 17-June 06 Member No.: 9,639 Location: Wonderland |
Was to be expected! This all due to 2 terms of Bush in the White House. Bush has been a true blessing in disguise. LOL love the blame game between Republicans and Democrats.
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Sep 29 2008, 05:04 PM
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#3
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GENERAL Group: Senior Members Posts: 3,205 Joined: 14-July 03 From: Classified Member No.: 1,986 |
Me thinks this whole banking system is a charade.
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Sep 29 2008, 05:10 PM
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#4
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CADET Group: Senior Members Posts: 1 Joined: 8-November 03 From: Toronto Member No.: 3,177 |
It is.
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Sep 29 2008, 05:27 PM
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#5
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MAJOR GENERAL Group: Senior Members Posts: 2,136 Joined: 7-November 02 Member No.: 328 |
QUOTE(BaburMissile @ Sep 29 2008, 05:51 PM)  Was to be expected! This all due to 2 terms of Bush in the White House. Bush has been a true blessing in disguise. LOL love the blame game between Republicans and Democrats. Definitely. "Strong" economies usually don't have fluctuations this wild unless precipitated by war or natural disasters. Current DOW of 10,350 is probably getting close to its real value of 8,500 points - hence currently still about 20% overvalued - it was 14,000 a few weeks before, or about 40% larger than it should be. |
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Sep 29 2008, 05:39 PM
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#6
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 GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
I'm expecting the worst (for quite some time now)...
Expect a global depression (not a recession)... there will be global unrest @ unparalleled scale, famine & wars! Make sure you guys have enough gold (or silver) saved up... cause after this bailout expect a dollar (all paper money - cause all are pegged to the dollar) to collapse! -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 06:13 PM
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#7
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GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
American pressure on the (ARAB) Gulf-States to save Wall Street
Gulf diplomatic sources in New York, told Al-Akhbar that they are concerned about the U.S. pressures on the Gulf-countries to absorb the currency liquidity available in their banks. The United States sent harsh messages to its Gulf allies demanding serious contribution in Bush's financial rescue plan to prevent the complete collapse of financial markets. Especially after Qatar Investment Authority rejected the investment of part of its assets in the U.S. market, Preferring to invest in Asian markets. -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 06:18 PM
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#8
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CADET Group: Senior Members Posts: 1 Joined: 8-November 03 From: Toronto Member No.: 3,177 |
QUOTE(clutch @ Sep 29 2008, 06:13 PM) American pressure on the (ARAB) Gulf-States to save Wall Street Gulf diplomatic sources in New York, told Al-Akhbar that they are concerned about the U.S. pressures on the Gulf-countries to absorb the currency liquidity available in their banks. The United States sent harsh messages to its Gulf allies demanding serious contribution in Bush's financial rescue plan to prevent the complete collapse of financial markets. Especially after Qatar Investment Authority rejected the investment of part of its assets in the U.S. market, Preferring to invest in Asian markets. Now we will see if the Arabs truly are puppets or not. |
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Sep 29 2008, 06:20 PM
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#9
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 GENERAL Group: Senior Members Posts: 6,907 Joined: 13-September 03 From: Pakistan Member No.: 2,754 Location: Sydney, Australia |
QUOTE(clutch @ Sep 30 2008, 10:13 AM) American pressure on the (ARAB) Gulf-States to save Wall Street Gulf diplomatic sources in New York, told Al-Akhbar that they are concerned about the U.S. pressures on the Gulf-countries to absorb the currency liquidity available in their banks. The United States sent harsh messages to its Gulf allies demanding serious contribution in Bush's financial rescue plan to prevent the complete collapse of financial markets. Especially after Qatar Investment Authority rejected the investment of part of its assets in the U.S. market, Preferring to invest in Asian markets. LOL tides are turning. Beside this the fate of the banking system which is based on Riba and where money is created on money. Who is gonna suffer the most???? ordinary ppl... they savings will be lost and their lives devistated... -------------------- Pakistan came into being on August 14, 1947. As the Creator willed it, the date corresponded with the empowering night of Ramadan 27 of the year 1366 after the Prophet’s Hijra. Its great destiny was thus set from the start
If we take our inspiration and guidance from the Holy Qur’an, the final victory, I once again say, will be ours… Do not be overwhelmed by the enormity of the task… You only have to develop the spirit of the Mujahids. You are a nation whose history is replete with people of wonderful character and heroism. Live up to your traditions and add to another chapter of glory. All I require of you now is that everyone… must vow to himself and be prepared to sacrifice his all… in building up Pakistan as a bulwark of Islam and as one of the greatest nations whose ideal is peace within and peace without… Islam enjoins on every Mussulman to give protection to his neighbors and to minorities regardless of caste and creed. Muhammad Ali Jinnah |
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Sep 29 2008, 06:27 PM
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#10
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GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
QUOTE(_kiLLuminati_ @ Sep 29 2008, 06:18 PM) Now we will see if the Arabs truly are puppets or not. I would put it another way... Now we will see if the Arabs truly are stupid or not! Why would any one (arabs) bail out people who truly hate them (i.e Zionist neo-cons) & have been murdering them for decades is beyond me? Why should they have to clean up the zionist banker's greed? -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 06:28 PM
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#11
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 GENERAL  Group: Moderator Posts: 22,637 Joined: 16-October 02 From: UK Member No.: 109 |
It's time to let the system crash... i don't care if i end up broke... let it burn.
The housing market, banking etc is all unfair, it's rigged to make top dollar for top execs, everyone is screwed. Why should a home be a lifetimes worth of investment? Why can't we buy enough material and produce enough houses to make them cheap? Why because all the bankers who invested in the housing market would lose big bucks. You and me get screwed, we can't afford shelter, coz of these leaches. Time for them to pay. -------------------- -=-=-=-=Faith, Unity, Discipline-=-=-=-=
Kashmir is the jugular Vein of Pakistan and no nation or country would tolerate its jugular vein remains under the sword of the enemy. -Muhammed Ali Jinnah -=-=-=-=FREE KASHMIR-=-=-=-= These eye's do not wander in lust, for my queen of hearts has graced them with love. "We gave our today for your tommorrow ". |
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Sep 29 2008, 06:33 PM
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#12
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GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
QUOTE(platinum786 @ Sep 29 2008, 06:28 PM) It's time to let the system crash... i don't care if i end up broke... let it burn. The housing market, banking etc is all unfair, it's rigged to make top dollar for top execs, everyone is screwed. Why should a home be a lifetimes worth of investment? Why can't we buy enough material and produce enough houses to make them cheap? Why because all the bankers who invested in the housing market would lose big bucks. You and me get screwed, we can't afford shelter, coz of these leaches. Time for them to pay. You know what... a part of me is saying the same thing as you... let the whole corrupt system drown... maybe then these imperialist neo-con-christian-Zionists will run out of money to wage senseless wars on muslim lands & propping up terrorists groups like the Pak Talibanis to confuse & murder innocent muslims! BUT... another part of me is scared... If the entire global economy collapses... we r all screwed... I'm a newly wed... & have a family to support & put food on the table!... -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 06:40 PM
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#13
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CADET Group: Senior Members Posts: 1 Joined: 8-November 03 From: Toronto Member No.: 3,177 |
..prophecies unfolding
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Sep 29 2008, 06:46 PM
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#14
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GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
QUOTE(_kiLLuminati_ @ Sep 29 2008, 06:40 PM) ..prophecies unfolding I just wasnt expecting them to unfold so fast! -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 06:50 PM
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#15
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CADET Group: Senior Members Posts: 1 Joined: 8-November 03 From: Toronto Member No.: 3,177 |
QUOTE(clutch @ Sep 29 2008, 06:46 PM) I just wasnt expecting them to unfold so fast! Lost consciousness of time is a prophecy itself. In our perceptions, it seems fast. |
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Sep 29 2008, 07:16 PM
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#16
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GENERAL Group: Senior Members Posts: 3,449 Joined: 3-April 05 Member No.: 6,663 Location: Canukistan |
How the markets really work
Bird and Fortune - Financial Adviser Bremner, Bird, and Fortune: George Parr (Iraq oil) -------------------- -----------------------------------------------------------------------------------------------------------------------------
Everybody is entitled to my opinion! ------------------------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------------- "Some of you may die, but that's a sacrifice I am willing to make." -- Lord Farquaad, "Shrek" ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ `Terrorism is the war of the poor, and war is the terrorism of the rich.' ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ In times of universal deceit, telling the truth is a revolutionary idea! G.Orwell ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who rides a tiger is afraid to dismount. ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ He who sacrifices his conscience to ambition, burns a picture to obtain the ashes. ------------------------------------------------------------------------------------------------------------------------------ |
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Sep 29 2008, 08:33 PM
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#17
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MAJOR GENERAL Group: Senior Members Posts: 2,136 Joined: 7-November 02 Member No.: 328 |
QUOTE(clutch @ Sep 29 2008, 08:16 PM) How the markets really work Bird and Fortune - Financial Adviser Bremner, Bird, and Fortune: George Parr (Iraq oil) Definitely a well known fact that the American economy is about 50% smaller in reality than it is on paper. 13 trillion $ is simply not feasible with a growing trade imbalance and FDI shrinkage. I think some economist was estimating the U.S. economy to be around 8 trillion $ maximal. That would make it about twice that of China and E.U.'s twice as big (16 trillion $) in nominal (not PPP) terms. About right according to the predictions from 1996, when this entire "information-based economy type" was still not able to totally fraud the public. |
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Sep 29 2008, 09:18 PM
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#18
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 GENERAL Group: Senior Members Posts: 10,921 Joined: 16-October 02 Member No.: 101 Location: Thailand |
Hope Wall street learnt their lesson and so did the ruling elites.
Unregulated free market economy never works. |
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Sep 29 2008, 11:49 PM
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#19
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 BRIGADIER Group: Senior Members Posts: 1,289 Joined: 5-February 05 From: CTA-Islamabad Member No.: 5,977 |
I was watching the House Vote live on BBC World News and must say it was all very exciting, seems a recision is most likely. A very grim outlook for the present future.
-------------------- You are free, you are free to go to your temples, you are free to go to your mosques in this state of Pakistan. You may belong to any religion or caste or creed - that has nothing to do with the business of the state. - Quaid-E-Azam Mr. Mohammed Ali Jinnah
Note: These comments are my own opinions and not those of the organisation I work for. |
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Sep 29 2008, 11:50 PM
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#20
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BRIGADIER Group: Senior Members Posts: 1,289 Joined: 5-February 05 From: CTA-Islamabad Member No.: 5,977 |
QUOTE(clutch @ Sep 30 2008, 06:16 AM) How the markets really work Bird and Fortune - Financial Adviser Bremner, Bird, and Fortune: George Parr (Iraq oil) LOL... Thank you for sharing, these guys are great! (IMG:style_emoticons/PDFEmotionIconsv10/LOLANI.GIF) -------------------- You are free, you are free to go to your temples, you are free to go to your mosques in this state of Pakistan. You may belong to any religion or caste or creed - that has nothing to do with the business of the state. - Quaid-E-Azam Mr. Mohammed Ali Jinnah
Note: These comments are my own opinions and not those of the organisation I work for. |
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Sep 30 2008, 05:08 AM
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#21
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 MAJOR GENERAL Group: Senior Members Posts: 2,095 Joined: 31-January 07 From: Pakistan Member No.: 12,573 Location: Pakistan |
I am more concerned if and how this affects banks in Pakistan.
-------------------- YAFOD: Yet Another Fruit Of Democracy!
$Question = ( 2B || !2B ); - (c) Shakespeare - all rights reserved - Geo Musharraf!!! Democracy Pakistan ko lay doobi... Zardari sukhi, Pakistan dukhi... Results of democracy... Na Bijli, na roti, na pani... Aam Pakistani Khappay! I told you so! |
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Oct 12 2008, 06:24 AM
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#22
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MAJOR GENERAL Group: Senior Members Posts: 1,958 Joined: 20-November 02 From: birmingham Member No.: 401 Location: u.k |
BUT... another part of me is scared... If the entire global economy collapses... we r all screwed... I'm a newly wed... & have a family to support & put food on the table!...
[/quote] Brother dont fool your self, no one but Allah is the only provider,so feal free and let Him worry about providing.May Allah keep you and your family safe and sound. -------------------- I am man with word,and i like people who are in same manner.I will respect you and defend you as long as you respect my religion, my country and my country men.
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