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Can you believe that there are still those out there who believe the US economic recovery is "A House of Cards?" Those folks are flooding the market buying gold now, I guess.
Oh Wait,
Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.
Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.
Gold high in 2012 $1917.23
Gold high today $1223.90
There are no fundamentals supporting the market. It's coming just be patient.
Didn't it jump a record yesterday after promises from the fed to keep the scam propped up?
What a racket!
The only tool in the FED toolbox, used for "propping up" as you call it, is QE.
As posted earlier in this thread, QE is almost finished and has been reduced dramatically, every month since Janet Yellen took over.
Heres a clue-the stock market is being affected by a lot of research showing the world economies are weaker then expected. Some big surprises out of Germany lately especially.
Also I suspect some of the Hong Kong stuff is freaking folks out.
Nothing to do with Obama at all. Sheesh. Dont let Obama Derangement Syndrome cause you to make foolish statements like this.
This is absolutely the case and while the recent data from across the pond is largely responsible -- it was no secret that it was coming. The market is likely to act like a bouncy ball for a while, but will settle.
Let's see, now: Welfare, Benghazi, ISIS, Fast & Furious, Ebola, millions losing their health insurance, the border crisis, a deeply divided country.....
You know, real hopey-changey things....
The Dow's sudden decline really is no surprise. Reality really does bite. It was due to go down at some point.
Let's see, now: Welfare, Benghazi, ISIS, Fast & Furious, Ebola, millions losing their health insurance, the border crisis, a deeply divided country.....
You know, real hopey-changey things....
The Dow's sudden decline really is no surprise. Reality really does bite. It was due to go down at some point.
If you think any one of those items you mentioned has anything to do with the economy, you really need a refresher course in Economics 101.
But it just went up 300 or so yesterday- we can't say this one day drop is so worrying when yesterday it was all cheers as it went up that same amount.
Ugh- can we all admit its not 1982. 300 points is not what it used to be. Its less than 2% of the market's value. So if you had a dollar you didn't even lose a nickel. Or even 2 full pennies.
And the Dow has doubled since Obama took office. While not his greatest fan I do not see how the Dow of all measurements can be used against him.
Ugh- can we all admit its not 1982. 300 points is not what it used to be. Its less than 2% of the market's value. So if you had a dollar you didn't even lose a nickel. Or even 2 full pennies.
And the Dow has doubled since Obama took office. While not his greatest fan I do not see how the Dow of all measurements can be used against him.
It's just like gas. Cherry pick the price of gas when the market tanked and then claim Obama is responsible for gas going up $2... and then when it goes down... crickets.
My thinking is the days of the Dow shrugging off good or bad news, while at he same time going up and up and up.....MIGHT be over. I still think there is steam left, for the markets, with the fed behind them, to keep going up......just not as dramatically.
Simple - the Fed has been talking about raising interest rates.
Wall Street is punishing the Fed for daring to propose policies which will hurt Wall Street.
It has happened before. It is happening now. It will happen again.
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