Crash of 2011 happening now?

[pmcint01]

No way. I think it's a few days or even weeks up or sideways then down even lower.

 

[burrocrat]

Let me get this straight, we spend more than we earn and it gets to be a big enough problem to trouble our creditors. So we fight and argue and can't really decide if we should bring in more or give out less, with virtually no consideration of simply quitting the borrow because everybody still wants all their free stuff. And the process is so ineffective and pitiful it turns even our own stomachs because the eventual solution we come up with is really no solution at all and everybody knows it, including S&P who finally seems to have learned to tell their head from a hole in the ground and found the nuts to actually say something about it. That's what happend right? Then the markets panic and everybody sells stocks and runs to cash but stops by the liquor store on the way home because it's real bad out there, the same worthless cash we were just worried about and the same harmful overconsumption that got us here in the first place, mind you.

And finally the big private bank assures us that it will all be OK because they will just make more cash available for us to borrow, virtually interest free. Which might become a problem later, but don't worry about it now because we've got bigger problems, just take the money, you'll feel better. So this is what a currency war looks like I guess, maybe they've tired of watching the value of their holdings deteriorate via USD$ devaluation. The big boys took a shot across the bow and dropped us 10%+ in a couple of days, that didn't feel so good. Now I see why they're so mad at us, how do you like me now type thing. Thankfully First Clown soothes the masses, Benspankme gathers up some old friends, and TurboTimmy gets on the horn with the boss in China. Somebody cried uncle for sure because things are looking pretty neat through our rose colored glasses again.

And then all of the sudden at 3pm everybody is happy and dancing the rally in the street because the crisis has been averted. I'm obviously not signed up for that newsletter, must have missed it. Does this seem crazy to anyone else or is it just me? Whew, all the retirees can go back to believing their money is safe. And the newer workers can have total faith that the system will be there for them later too, just like always. Viola, everyone in the pool, just like that? I must have been standing in the placebo line because this blue pill ain't doing nothing for me.

Almost tricked me this mornin with that little more free fed money gonna fix it right up thing, c'mon bear is that all you got? Let me hear you roar, you can't be dead yet, just playing huh? I still got you, I can feel you breathing and I'm not letting go just so you can take another swipe at me later. Hiyaa! Git up you lazy, bloated sow, now Roar!

 

[clester]

I agree that today was very strange. Someone with huge money must have played the market today. Maybe the ppt? I don't know but that kind of move is fishy. It just confirms my opinion that The market is rigged. The little guy almost always gets burned. They must have realized the retail investor bailed monday.We have no choice though but to play their game now that everyone's retirement is in the market. Same with politics, those with bug bucks control Washington. They tell us what we should want.

Ok. Done with conspiracy theories.

 

[James48843]

Oh Come On now- you all know that stocks are now cheaper than at any time in the last year!

What a bargain buying opportunity!


Just ask Birch!

BUY-BUY-BUY!

Have one on me.

 

[James48843]

This week's cover of "New Yorker" magazine:

 

[pmcint01]

Is a S&P downgrade of France the next big hit to the markets?

http://www.marketwatch.com/story/for-next-rating-downgrade-sp-may-look-at-france-2011-08-10

 

[starfox182]

Dow currently down 1.60% with still 36 minutes before open!

Now down 1.73% with 29 minutes!

Update: Now Dow is down 2.24% with 20 minutes before open

At this rate will we retrace yesterday's gains before opening?

Won't make full retrace Dow -2.28% with 12 minutes before open.

France may be downgraded:
http://www.zerohedge.com/news/intesa-sanpaolo-halted-twice-french-downgrade-rumor-euro-drops

Comment from link on ZH:
"There must be something in the rumour. Sarkozy has jetted back to Paris and is dashing about re-assuring everyone that their fiscal plans will be in place to keep the AAA rating. He wouldn't cut short his holiday if there wasn't a credible threat."

 

[clester]

Death cross imminent. The 50 day will cross 200 day anyway now. That means bear market.

 

[clester]

Death cross imminent. The 50 day will cross 200 day anyway now. That means bear market.

I think the way the market is acting is an argument against 401k only retirement. Your retirement is based only on wall street and Washington and things out of your control. Those smart enough to guess the market direction may be fine but the avg. Person is getting hammered.

 

[starfox182]

Fitch downgrades Cyprus to BBB, Outlook Negative

http://blogs.wsj.com/marketbeat/2011/08/10/fitch-downgrades-cyprus-to-bbb/

Dow now down 4%

 

[Warrenlm]

France's AAA has been reaffirmed by the "agencies" according to the source of all truth, the tube.
Meredith Whitney said her new rating service will not rate sovereigns.

 

[Warrenlm]

I think the way the market is acting is an argument against 401k only retirement. Your retirement is based only on wall street and Washington and things out of your control. Those smart enough to guess the market direction may be fine but the avg. Person is getting hammered.

I think this should be a major societal decision. Some have already proposed that retirement accounts would have to be partially invested in government securities. That would kill two birds.....citizens would own more of their government's debt, allowing replacement of the foreign investors departing, and the government could easily exchange those securities forpromises of annuity supplements, like social security. And, like the current Social Security System, those promises can be expanded to help society's members in need of help, like orphaned children, widows, disabled, deceased, etc.

 

[alevin]

Death cross imminent. The 50 day will cross 200 day anyway now. That means bear market.

I learned back around 08 that KD calls bear market when 13/34 weekly EMA cross and difference is 1% or more. We've got the cross, but only at .1% difference the moment. Keeping my eye on it, glad I've been hiding in G, lo how the lowly are rising in the tracker. Limited access to internet these past couple weeks, no secure access to even think about doing IFT while being away on family funeral affairs, have been glad in a sense, couldn't even be tempted to do something dumb with IFT. Won't be home til this weekend so just watchin the morning/evening news on TV, newspapers for now mostly.

 

[Warrenlm]

Jamie Diamond just made a 1 minute speech directly to the American audience watching CNBC at this hour. It was positive, patriotic, confident, spontaneous and absolutely exuded sincerity. Can we get the White House staff to watch the tape for some hints?

 

[clester]

The problem is that you can't plan when you have no idea what you will get in retirement. Even with a portion in government securities. Most people aren't like us. They have no idea about playing the market. A lot of us don't do so well.

The result is no hope of retirement for most folks. Maybe that's not bad but don't give them hope and then slam the door in their face. They may be better just Spending it all which a lot already do.

 

[clester]

Jamie Diamond just made a 1 minute speech directly to the American audience watching CNBC at this hour. It was positive, patriotic, confident, spontaneous and absolutely exuded sincerity. Can we get the White House staff to watch the tape for some hints?

I agree. A good speech.

 

[nnuut]

I agree. A good speech.

Here's a link:
http://video.cnbc.com/gallery/?video=3000037613

 

[Warrenlm]

I think it must have been after the break that happens at the end of this video. Is there a second half video of the interview? The White House really needs it.

 

[Warrenlm]

Too bad the Wall Street rich guys that cleverly mixed bad mortgages in with good mortgages, until they were so mixed in that everyone bought them as AAA, weren't honorable enough to follow this man's lead, instead of just grinning on their ride back to the Hamptons..http://www.nbclosangeles.com/news/w...ps-to-Death-Amid-Market-Plunge-127451503.html

 

[James48843]

Earlier today, a plane flew over S&P headquarters trailing a banner that read:

Thanks for the downgrade, you should all be fired.
​

Fortune has learned that the person who paid to fly the banner is a Midwestern broker, who woke up last night with the need to vent at those who she believes are leading the nation into an economic morass.
"I originally wanted to fly it over Washington, D.C., but learned that you can't do that," says the broker, who asked to remain anonymous for job security reasons. "So I chose Wall Street instead, but didn't specifically intend it to fly over S&P. I'm just a mother from St. Louis who feels the only reason we got downgraded was people in politics."

Sign:


Over Manhattan:


http://www.observer.com/2011/08/air...ks-for-the-downgrade-you-should-all-be-fired/