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MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

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MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by Guest on Mon Aug 08, 2011 10:49 am

Stocks Sink as Trading Opens

The major averages drop sharply at the start of the first trading session after Standard & Poor's cut the U.S. from a AAA rating to AA+. The Dow is down 200 points, and the Nasdaq is losing 3%.

http://finance.yahoo.com/

Pressing All the Buttons for a Panic Attack

BRADLEY ALFORD, a money manager in Atlanta, just hit the panic button.

No, really. Mr. Alford just hit the key on his computer that initiates the Wall Street equivalent of the nuclear option: Sell everything.

He was acting on orders from two wealthy clients who became so alarmed by the troubled outlook that they simply wanted out. Over the last 10 days or so, they asked him to sell all of their stocks and invest in a mutual fund he oversees that is somewhat insulated against a potential market collapse.

“I have never, ever done it before,” says Mr. Alford, who is the chairman of Alpha Capital Management and has been managing money for 22 years. “This was unprecedented.”
http://finance.yahoo.com/news/Pressing-All-the-Buttons-for-nytimes-1638573448.html?x=0&sec=topStories&pos=6&asset=&ccode=


Global Stocks Fall After U.S. Debt Downgrade

Global stock markets sank again Monday as worries over the downgrade of U.S. debt outweighed relief at a European Central Bank pledge to buy up Italian and Spanish bonds to help the two countries avoid devastating defaults.

European markets shed their early momentum and losses were heavy in Asia.
http://www.huffingtonpost.com/2011/08/08/global-stocks-fall-after-_n_920826.html

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by Jobless_in_Ma on Mon Aug 08, 2011 11:29 am

This is not a good thing at all.

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by exhaustedandtired/1208 on Mon Aug 08, 2011 12:13 pm

AiDe'ose economy! Jobs, future! both sides or party arena have screwed this country! BOTH SIDES have finally let us down.

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by tristen303 on Mon Aug 08, 2011 1:34 pm

So much for Europe and it's pro Union, Pro entitlement and big taxing legacy. Maybe now with facts a flying somebody will have enough sense to say "Hey this doesn't really work, sounds good but doesn't work"

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by JoanB on Mon Aug 08, 2011 6:31 pm

Nonsense. It's the same type of greedy bankster miscreants who have dragged us down. But nice try.

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by Guest on Mon Aug 08, 2011 7:21 pm

And who didn't see this coming. For weeks the ratings agencies ALL said that they needed to see cost cuts, revenue increases (the Grand Bargain) and the Tea Partiers's would not listen. Then we get downgraded on the weekend, so they could hold off the markets for at least a day (which does nothing) and here we are.

Time to get ALL our voices heard, 99ers, Long Term Unemployed and recently unemployed. They need to know our stories and our frustrations.

And, just to fuel the fire, let's all work together and leave the politics in DC, it created this mess along with greed bankers and the Wall Street robber barrens, so let's just be on the same side, each other's!!! We cannot afford to let them divide us.

On another note, which indirectly speaks to this, tomorrow is the Wisconsin recall election. Should give us an idea what some of the Country is thinking with regards to Republicans, Tea Partiers and union busting, wage freezing and salary reduction.

I do agree, we will all have to feel some pain, everyone is going to have to give a little, but not just everyone under $250K, the unemployed and the poor, it has to be everyone. It's been said many times, there are so many ways to reduce a deficit, costs alone, if properly negotiated can be reduced, taxes, defense, reducing the tax loopholes, real tax reform, real oversight in banking, not the watered down version of Dodd Frank, which was, by the way, all they could get through, real healthcare reform, again, not the watered down version that was all they could get through, extending benefits for ALL the unemployed including the 99ers, and most importantly, JOBS!

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by Guest on Mon Aug 08, 2011 10:35 pm

A lot of us in this forum have been together a long time. Although I am still not employed after 3 years, today after watching the Market and reading all about the economic armageddon I couldn't help but think about my 'unemployed friends' who have been fortune enough to find a job or have promising leads. I pray that what happened over the past week (and will probably continue) will not hurt Lendmeflight2's hopeful job prospect, or cost MoInStl, AloneinPA, JoanB, our Founder, Job(less)_in_MA, Admin Sick & Tired, Moderators gettheminNOVEMBER and X, and other forum members, their new jobs....

What is going on with the economy right now never should have happened. Three years ago our leaders should have been more proactive and based decisions on the advice of economic experts, not partisan politics.

Praying for all of us tonight - the unemployed, 99ers, underemployed and employed. God, help us all.
Sad


Last edited by DesperateInRI on Mon Aug 08, 2011 10:56 pm; edited 1 time in total

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by truth on Mon Aug 08, 2011 10:54 pm

tristen303 wrote:So much for Europe and it's pro Union, Pro entitlement and big taxing legacy. Maybe now with facts a flying somebody will have enough sense to say "Hey this doesn't really work, sounds good but doesn't work"

tristen,

What country would you point to where things are working? China? India?

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by Guest on Mon Aug 08, 2011 10:59 pm

[quote="DesperateInRI"]A lot of us in this forum have been together a long time. Although I am still not employed after 3 years, today after watching the Market and reading all about the economic armageddon I couldn't help but think about my 'unemployed friends' who have been fortune enough to find a job or have promising leads. I pray that what happened over the past week (and will probably continue) will not hurt Lendmeflight2's hopeful job prospect, or cost MoInStl, AloneinPA, JoanB, our Founder, Job(less)_in_MA, Admin Sick & Tired, Moderators gettheminNOVEMBER and X, and other forum members, their new jobs....

What is going on with the economy right now never should have happened. Three years ago our leaders should have been more proactive and based decisions on the advice of economic experts, not partisan politics.

Praying for all of us tonight - the unemployed, 99ers, underemployed and employed. God, help us all.


Amen, thanks for posting this and I agree X's 2. God Help Us All. And please God, keep all those jobs safe for our forum members. After all this time, they need these jobs.

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by truth on Mon Aug 08, 2011 11:47 pm

tristen,

Here are that countries that are growing:
http://en.wikipedia.org/wiki/File:Gdp_real_growth_rate_2007_CIA_Factbook.PNG

Here are the countries that are taxing:
http://www.theglobeandmail.com/report-on-business/international-news/us/tax-revenue-as-a-percentage-of-gdp-in-the-developed-world/article2114914/?from=211487

I don't see a whole lot of correlations. When you throw "entitlements" and unions into the mix, I see even fewer correlations. In any case, I'd pick living in the US, Canada, or Europe over China, India, etc. any day.




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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by JoanB on Tue Aug 09, 2011 12:36 am

Oh MaryKay, you are so sweet to worry about those of us who have jobs, and in some cases, you are probably right to. But you don't need to pray for me--I'm doing OK and will continue to do so even if this latest job evaporates. Let me send out some good energy in your direction, OK?

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

Post by JoanB on Tue Aug 09, 2011 12:58 am

truth, I used to construct aguments supported by facts citing legitimate sources in the hope that I would make such a persuasive case that surely people holding opposing viewpoints would see the light.

Here's what I finally realized: facts don't stand a chance when going up against beliefs. I don't necessarily mean religious beliefs, although some of these seem to approach those. But Religious or no, the result is always the same: the next time a similar issue came around, we were back to square one, as if nothing that had gone before had made any traction. Because it hadn't. Maybe you will do better. I genuinely hope that you do.

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Re: MANIC MONDAY: Global Markets Slide As U.S., Europe Face Uncertain Financial Future

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