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Wall Street and stocks are subject to the federal reserve giving them free money. If they see they wont be getting any more free money at the 0% interest rate they might want to invest in other places were the other countries debit isnt 14 trillion.
The guys that have been right over and over are predicting a full bore Depression and a long lasting one, if Conservative values in the economy don't take priority.
US corporations are taking their investments out of the US market and investing in the foreign markets.
This will prop up other markets while ours heads south at an increasing rate, when the panic takes hold.
Wow, great source there. At no point does it ever say Americans, or companies, are taking money out of the US market because of nerves. It just runs through investing in foreign markets and the risks/rewards of it...which has been a trend since 1985.
Yeah, just starting over the last 25 years.
At no point does anything here state anything about depression (obviously they have been so right in the last couple decades) or "conservative values".
Didn't impact my wealth....perhaps those who thought they were little Rockefellers might have been hurt.
If you use cash and have cash in any form, you were affected by the market performance. Newsflash - the current devaluation of the dollar worldwide impacts your buying and saving power. So yes, your wealth is affected.
China has called for the creation of a new currency to replace the dollar as the world’s standard.
Central bank governor Zhou Xiaochuan recently proposed a sweeping overhaul of global finance that reflects China’s growing unhappiness with the U.S.’s top-dog role in the world economy.
In the past, Western nations have routinely dismissed China’s currency goals. But this time, China is on the offensive, backed by Russia and others in making it clear that the dollar is “unsuitable for the world’s reserve currency.”
Watch the dollar fall off the cliff within the next year.
Mark my word.
With a total shortfall of about $4.5 trillion coming due in the next twelve months, all to be paid for, supposedly, with less than half a trillion dollars in our currency reserves!
It ain't gonna happen folks!!!
You must have reserves equal to 100% of your short-term external debt. And if you don’t, creditors will soon put you out of your misery.
Around the world, people will quietly begin shifting their personal and corporate cash into Euros and other more stable currencies. And why not? The dollar has already lost 25% of its value in the last six years.
The politics of replacing the dollar as the world’s reserve currency will look like World War III. The U.S. will not go gentle.
But for the past six months, China has been quietly sidestepping all those fireworks. It has been opening currency swap lines with several Asian countries, including Indonesia, Malaysia, South Korea, and Hong Kong.
Definition: Currency swap agreements are contracts that enable countries X and Y to trade with each other directly, without having to swap for dollars first.
Not a big deal? Don’t shrug too fast. China has now expanded its little Asian club to include Brazil, Argentina, and Belarus.
Worse, Russia is setting up its own commodity exchange (not based on the dollar) to compete with the CBOT (Chicago Board of Trade), NYMEX (New York Mercantile Exchange), and NYBOT (New York Board of Trade). Soon, Kazakhstan, Venezuela, and other OPEC or commodity-rich nations will join the revolt.
If you use cash and have cash in any form, you were affected by the market performance. Newsflash - the current devaluation of the dollar worldwide impacts your buying and saving power. So yes, your wealth is affected.
Well that is true....but then that was more the fedgov and banks.
China has called for the creation of a new currency to replace the dollar as the world’s standard.
Central bank governor Zhou Xiaochuan recently proposed a sweeping overhaul of global finance that reflects China’s growing unhappiness with the U.S.’s top-dog role in the world economy.
In the past, Western nations have routinely dismissed China’s currency goals. But this time, China is on the offensive, backed by Russia and others in making it clear that the dollar is “unsuitable for the world’s reserve currency.”
Watch the dollar fall off the cliff within the next year.
Mark my word.
With a total shortfall of about $4.5 trillion coming due in the next twelve months, all to be paid for, supposedly, with less than half a trillion dollars in our currency reserves!
It ain't gonna happen folks!!!
You must have reserves equal to 100% of your short-term external debt. And if you don’t, creditors will soon put you out of your misery.
Around the world, people will quietly begin shifting their personal and corporate cash into Euros and other more stable currencies. And why not? The dollar has already lost 25% of its value in the last six years.
I do not think you are seeing the whole picture there partner.
In the first place, I would not hold my breath waiting for the dollar to fall off a cliff. With a good chance interest rates will be climbing due to the end of QE2 the dollar could easily strengthen, not because it is fundamentally strong, but because it is the least of all other evils.
That 4.5 trillion you are talking about need not, and will not be paid; it only has to be serviced. A few positive tweaks to the economy and some decent interest rates and there will be plenty of market for bonds.
Cash to Euros? Are you serious? There is 10x the chance the EU will dissolve and that the Euro will be abandoned than there is of serious fall in the dollar.
China? China is staring right down the barrel of it's own recession with real estate prices now quickly loosing steam and it's speculative bubble loosing air rapidly. China's economy is built on speculation money, not on wages. When the speculation money goes away and the people have to live on wages, there is going to be big, big problems.
Finally there is one underlying strength the dollar has that no other currency can match, and that is when the SHTF it is the currency of the US military.
In a complete global meltdown, there is only one thing that matters, and that is who has the military power to take what they need by force. Who else are you going to bet on to be the top dog when push turns to shove?
My bet is that soon you will see another chapter in the depression take place. When you do, stocks will fall, bonds will fall, commodities will fall, real estate will fall, credit will dry up, and those with the foresight to have some of those dollars you are so eager to dispose of will be able to buy up assets at fire sale prices.
Your vision of everything continuing to go in the same direction is myopic. Things always change. The pendulum only swings so far in one direction, and then it changes and goes the other way.
China has called for the creation of a new currency to replace the dollar as the world’s standard.
Central bank governor Zhou Xiaochuan recently proposed a sweeping overhaul of global finance that reflects China’s growing unhappiness with the U.S.’s top-dog role in the world economy.
In the past, Western nations have routinely dismissed China’s currency goals. But this time, China is on the offensive, backed by Russia and others in making it clear that the dollar is “unsuitable for the world’s reserve currency.”
Watch the dollar fall off the cliff within the next year.
Mark my word.
With a total shortfall of about $4.5 trillion coming due in the next twelve months, all to be paid for, supposedly, with less than half a trillion dollars in our currency reserves!
It ain't gonna happen folks!!!
You must have reserves equal to 100% of your short-term external debt. And if you don’t, creditors will soon put you out of your misery.
Around the world, people will quietly begin shifting their personal and corporate cash into Euros and other more stable currencies. And why not? The dollar has already lost 25% of its value in the last six years.
I'm glad there are people as you on this forum, who have the fortitude to know what is happening. My banker investor last Sept, warned me of things that were going to happen, everything he told me, is taking place. I even made some adjustments to my porfolio and moved things around.
You have not seen anything yet, and yes some people with the big big bucks, are moving their money and not here. This is just the tip of the iceberg what he told me, and it ain't getting better anytime soon.
Housing values, continue to drop, heard this morning unemployment at 9.1% things are not good. Fool yourself and tell yourself everything is just fine, this is reality not a fairytale.
Things in this Country are not fine, does not take a rocket scientist, media, newspapers, or magazines to warn us of what is happening, eyes and ears is all that is needed.
The Dow fell 172 points, or 1.4 percent, to close at 11,952.
The S&P 500 index fell 18, or 1.4 percent, to 1,271. The Nasdaq dropped 41, or 1.5 percent, to 2,644. The Nasdaq has now given up all its gains for the year. The Dow is still up 3.2 percent for 2011 and the S&P 1.1 percent.
The losses were broad, with declines across all 10 of the S&P 500's industry groups.
Four stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.9 billion shares.
Friday's plunge was the stock market's sixth straight weekly loss, the longest weekly losing streak since the fall of 2002. The market's last seven-week stretch of losses began in May 2001, as the dot-com bubble deflated.
Stocks have suffered this month after weak economic news dampened hopes for a speedy recovery. Traders fear that weaker hiring, industrial output, and a moribund housing market are reversing a bull market that has lifted the Dow 20 percent over the past year.
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