Results 1 to 7 of 7
  1. #1 Global Meltdown: Investors Are Dumping Nearly Everything 
    An Adversary of Linda #'s
    Join Date
    Aug 2005
    Posts
    22,891
    Fed's $400bn deal to boost economy backfires as markets plummet and Moody's cuts credit ratings
    of three major banks


    The huge financial threat facing America was laid bare last night as the Federal Reserve took unprecedented emergency steps to prop up the world’s largest economy. Bosses at the Fed launched a $400billion operation to lower borrowing costs for businesses and for consumers in the U.S. - selling its shorter-term securities to buy longer-term holdings. The turmoil on both sides of the Atlantic will spark fears that the world is heading for its worst economic crisis since the collapse of Lehman Brothers three years ago. Its move came amid escalating fears over the health of the banking
    \
    \
    http://www.cnbc.com/id/44626413

    COMMENTS:
    With no solution in sight for Europe and new fears of a global recession, investors dumped stocks and commodities and ran to the safety of U.S. Treasurys.

    Treasury yields , as a result, slipped to historic lows with the 10-year yielding 1.75 percent and the 30-year at 2.86 percent.

    The dollar was also a beneficiary of a massive fear trade that sent U.S. stocks sharply lower, on the heels of steep sell-offs in equities markets around the globe.

    The worst performing stock market sectors mirrored the sell-off in global commodities markets, with materials down 4.6 percent and energy stocks down 4.1 percent.

    Copper, hit by concerns of a Chinese slowdown, tumbled 7 percent to a 1-year low. Gold, usually a safety play, was sold into the maelstrom as investors raised cash. The euro [EUR=X Loading... () ], broke below 1.35, a recent bottom of its range. It was trading in the 1.346 area, an eight-month low against the dollar. The dollar index [.DXY Loading... () ] was 1.4 percent higher.
    .................
    Last edited by megimoo; 09-22-2011 at 12:59 PM.
    Reply With Quote  
     

  2. #2  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Mambo Jambo Dumbo Bambo wants to raise taxes. Surely that will help the economy improve. Not :eek:
    Last edited by lacarnut; 09-22-2011 at 01:37 PM.
    Reply With Quote  
     

  3. #3  
    Senior Member
    Join Date
    Mar 2010
    Posts
    3,269
    About the only thing I have that's making money is the dollar! No kidding!

    I bought UUP a couple months back and be danged if it's not up today.....not making much, but it mitigates (somewhat) the pain I feel with the rest of my equities.

    Reply With Quote  
     

  4. #4  
    Senior Member Molon Labe's Avatar
    Join Date
    Jun 2008
    Location
    Jihad Me At Hello
    Posts
    4,772
    Quote Originally Posted by lacarnut View Post
    Mambo Jambo Dumbo Bambo wants to raise taxes. Surely that will help the economy improve. Not :eek:
    It's like beating your head against a wall isn't it?


    The markets been really volotile the last two months. 200 up here 300 down the next day.......I wonder if this is the beginning of the first big dump off where we don't see any recovery for a quarter or so? I've long been of the opinion that the market should be stable around 6 - 8000. Still waiting for that.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


    The problem is Empty People, Not Loaded Guns - Linda Schrock Taylor
    Reply With Quote  
     

  5. #5  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    I dumped my REITs years ago. Made a little before it crashed and transferred my 401 fund to a guaranteed interest rate account with the state at 3.5% . Been mostly in cash the last couple of years and gold and silver. My commodities basis is very low so the downturn has just affected a couple of stocks I hold. I am damn lucky. If gold and silver keep dropping I might buy some. It is some scary shit out there.
    Reply With Quote  
     

  6. #6  
    Senior Member DumbAss Tanker's Avatar
    Join Date
    Jun 2002
    Location
    Missouri
    Posts
    3,015
    I hope the price of silver drops a lot, I use it as a material and all the TEOTWAWKI precious metal investors have driven the spot price per Troy ounce through the roof this year, my material stock is getting low and I don't want to have to buy any more at the top of a boom.
    Reply With Quote  
     

  7. #7  
    Banned
    Join Date
    Apr 2011
    Location
    Kapolei,Hawaii
    Posts
    1,239
    Quote Originally Posted by lacarnut View Post
    Mambo Jambo Dumbo Bambo wants to raise taxes. Surely that will help the economy improve. Not :eek:
    This.

    It's hard to make a living right now in this economy,Borders just closed down and i think a store at a mall i go to that sells stuff like Dungeons and dragons stuff is closing up. I mean WTH is he thinking?
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •