Really Worrysome Economic News

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JIMV
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Joined: 03/22/2005 - 1:01am
Really Worrysome Economic News

In all seriousness, our Markets are within a tiny step of meltdown...

The DOW fell again today and the NIKKEI is continuing the drop as I type

http://www.bloomberg.com/index_asia.html?b=0

Here is some of the rest of the news BoBo is not noting

Speculators are buying gold faster than the world’s biggest producers can mine

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6f.XxAJB0Rc

US Plays Down European Crisis but China Worried
Published: Monday, 24 May 2010 | 4:29 AM ET
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http://www.cnbc.com/id/37310606

European economy "teetering"

http://www.reuters.com/article/idCNN2423767920100524?rpc=44

One false move in Europe could set off global chain reaction

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/23/AR201005...

Late slide in financial stocks hits stock market

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/24/AR201005...

Roger Ek
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Joined: 11/18/2002 - 1:01am
"Speculators are buying gold

"Speculators are buying gold faster than the world’s biggest producers can mine"

Oh, it's worse than that. Many of the so called "depositories" are actually based on futures. There is no metal to back up the "deposits". If there is even a slight increase in demand for delivery on the metal the system will collapse, much to the astonishment of the gold bugs who think they "own gold".

Hold the metal. Then you own gold.

Vic Berardelli
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Joined: 12/26/2001 - 1:01am
At 11:06 a.m. the Dow was at

At 11:06 a.m. the Dow was at 9831.38, down 235.49 (-2.34% from opening)!

Vic Berardelli
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Joined: 12/26/2001 - 1:01am
At 13:45 EDT the Dow ticked

At 13:45 EDT the Dow ticked up slightly to 9855.49, still off 211.08 (-2.10%) from opening.

Vic Berardelli
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Joined: 12/26/2001 - 1:01am
This is its lowest since

This is its lowest since early-February and, if it closes under 10,000 today it will be the second-lowest close (and only the second under 10,000) in 2010.

As of 13:50, the Dow is down 5.43% year-to-date since the New Year. But it's all relative because it is UP 19.06% compared to May 25, 2009, when it closed below 8,500. That noted, it should also be noted that in three years since the Dow tickled to 14,000 mark in 2007, it is down 27.74%.

Why is the media not pointing out that we're nearly 18 months into the Obama Administration and Democrat control of both Houses? At this point in time it can't be Bush's fault!

Naran
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Joined: 10/06/2004 - 12:01am
Ah, JIMV - AMG's own Hysteria

Ah, JIMV - AMG's own Hysteria Hetty.
lol

Say, whatever happened to that BIRD FLU PANDEMIC that was going to kill us all?

(no offense, Jim.... merely kidding witcha).

FXSTC
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Joined: 11/13/2003 - 1:01am
JIMV is right, this is a very

JIMV is right, this is a very serious situation. I don't see the humor in a market correction/crash.

Naran
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Joined: 10/06/2004 - 12:01am
FX - I was just noting Jim's

FX - I was just noting Jim's propensity for posting "THE SKY IS FALLING" threads. No reflection on whether the sky IS falling this time around.

Steven Scharf
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Joined: 01/28/2002 - 1:01am
Unless it bounces 66 points

Unless it bounces 66 points in the next two minutes the dow is going to close at 10,051, down 22 points.

Steven Scharf
SCSMedia@aol.com

Steven Scharf
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Joined: 01/28/2002 - 1:01am
Final less than 20 points

Final less than 20 points down.

Steven Scharf
SCSMedia@aol.com

Naran
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Joined: 10/06/2004 - 12:01am
(No subject)

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