Black Friday?

[Solve et Coagula]

Black Friday?

Could be an interesting day on Wall street today.

Nikkei down over -850 pts (5%)

Hang Sang Down over -650 pts (3%)

Strait Times -150 pts (5%)

[markko]

Nah, they will be covering the crisis up for some more time. Until it will really explode...

European Union central bank just summoned 40 billion € into circulation (out of thin air) to pervent falling the EU stock exchange index...

[MrBS]

NEWSFLASH:

Fed has cut interest rates.... global economy saved.... we can all go back to sleep now....... :rolleyes:

[standvast]

They have pumped about 300 Billion into the market in the last 5 days ,this can't last forever !?

Quote:Aug. 13 (Bloomberg) -- The European Central Bank lent emergency money to banks for a third day, while paring the amount and declaring that markets are returning to normal.

The ECB loaned 47.7 billion euros ($65 billion) to banks, down from 61.05 billion euros on Aug. 10. The U.S. Federal Reserve, the Bank of Japan and Australia's central bank today resumed normal refinancing operations and refrained from providing extra funds.

The ECB, the Fed and other central banks injected $154 billion into money markets on Aug. 9 and $135.7 billion on Aug. 10 amid fears that U.S. subprime mortgage losses will curtail lending. Stocks rallied worldwide and U.S. index futures advanced as concern about a squeeze on credit abated.

link Bloomberg

Quote:PARIS (AFP) - World leaders on Thursday insisted that the US credit crunch would not cause an economic crisis but stock markets across the world plummeted yet again as investors remained unconvinced.

US Treasury Secretary Henry Paulson admitted that American growth will be hit but said the economy would weather the storm because it came "against a backdrop of a very healthy global economy with strong fundamentals."

French President Nicolas Sarkozy said he was confident the fallout from US credit markets would have no long-term effect on growth, while Australia's Prime Minister John Howard said the economy could withstand the shock.

But their words failed to convince stock markets.

They tumbled yet again, wiping tens of billions of dollars off share values in Asia and Europe. From London to Hong Kong, Tokyo and Sydney weary traders' screens were awash with red again.

All eyes were on Wall Street, where markets were to reopen at 1330 GMT, and where on Wednesday anxiety again gripped investors who sought safe haven assets such as government bonds.

Source Philipines Star

[waxzy]

how long can they keep this game going?

[justice]

Quote:how long can they keep this game going?

untill all the big players are ready to jump out.

$415tr is being traded in deravatives and that comes in at about $65,000 for every man woman and child on the planet so it's not a question of if it will all crash but when to me.

Each week i buy in about a months worth of emergency food rations and this costs me less than $15 per week, now that's what i call good insurance.

[markko]

Smart thing to do, justice. The system will collapse, no doubt about it. I think somewhere from 2010-2020. I really have no basis to say that, just speculation.

[MC David]

money matters lol

[waxzy]

Problem is that no matter how much they keep putting into the system, they are actually making the coming crash worse by putting more money into the system for people to loose. The more they put into it the more there is to loose, the more everyone looses.