Stocks swoon as dollar falls, gold jumps »
Posted By not2needy 1 year, 8 months ago in Business & FinanceStocks tumbled Thursday morning as investors recoiled following a further decline in the dollar, spikes in gold and oil prices and a warning that a Carlyle Group fund is near collapse. The major indexes each lost more than 1 percent; the Dow Jones industrial average at times fell more than 200 points.
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not2needy
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not2needy1 year, 8 months ago
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FTA:
Investors were also getting their first look at a plan outlined by Treasury Secretary Henry Paulson to provide stronger regulatory oversight of mortgage lenders, whose lax standards are blamed for touching off the concerns about souring debt that have led to turmoil in the credit markets.
But talk of regulatory changes appeared to do little to dislodge the glum mood on Wall Street. A government report showing that retail sales fell in February rather than increasing as had been expected only added to investors' worries.
I think i will hold onto the gold i have! This is scary as hell.
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mark-stevens1 year, 8 months ago
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It's this simple... the Mexicans that the democrats are encouraging to come to the U.S. to build houses so they could by one ,were cheated by the banks the republicans get campaign funds from. Throw in the plain old fashion criminal conduct on cheating people and that is our economy today.
Greenspan told congress two years ago this was coming... in which no one listened.
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jovial1 year, 8 months ago
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Remember all those stories submitted by conservatives on how good the economy was under Bush. More mass deception. They would also like you to believe things are better in Iraq as well. Keep your eye on gold and the value of the dollar. Those are key factors in determining where the economy is headed. I would say oil too, but that price is being manipulated. So oil prices are not too dependable as a gauge. The oil companies are taking less profit on a barrel as a favor to this administration until the election is over in November. The spike you see now is unavoidable, but we are still geting a break in the price. My prediction is that gas will be $5.00 a gal by Dec '08 or no later than Mar'08. Gold will continue to climb. The dollar will fall some more depending on how much money Bernanke throws at the economy over the next few months. BTW, get rid of those gas-guzzling SUV's now while you still have a chance.
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not2needy1 year, 8 months ago
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Apparently everything they do is a form of mass deception, i have another thread on the front page regarding the Bush connection to Rev Moon, the joke from the 70's.
Read the links provided by jordan11, it will scare the hell out of you..
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jannra1 year, 8 months ago
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I totally agree with you about the oil companies backing off (a bit) on profits to do this administration a favor until the election. (Of course Exxon-Mobile is still raking the highest corporate profits in the history of corporate profits each quarter!) They also did it back in 2004 before Bush's re-election and again in 2006 before the midterm elections so it would appear that he was handling the situation. But of course the price of each oil barrel has continued to rise, and rise, and rise again. Obviously he hasn't "handled" a damn thing except create the war that's causing the higher prices in the 1st place! But if a Democratic candidate wins the presidency in Nov, you can be sure the oil companies will shoot those prices up sky high and everyone will blame the "new administration." And history will record it as the administration's 1st failure, or possibly triumph, IF they can vote to put the oil conglomerates down a notch or two...
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joeblowe1 year, 8 months ago
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I can point right straight at ONE of the problems: The damned media. A headline right here on Netscape: "Retail Sales Plunge .6%" Now I have to ask, who in the hell is it that thinks a decline of 6 TENTHS of ONE percent is a PLUNGE? SOMEONE is a total freaking IDIOT. No, wait, NOT an idiot. More like a MORON. It would take years of hard study for the author of that headline to be promoted to "idiot." SIX TENTHS OF ONE PERCENT? A PLUNGE? Jesus Hornblower Christ! To put that into perspective, if you had $100.00 and suffered a "olunge" of .6% of your holdings, you would "only" have $ 99.40. Not even ONE full percentage, and that's a PLUNGE? The media needs to STOP with the damned sensationalizing of EVERY stinking story and just REPORT the news, not try to pump it up so that it SEEMS significant.
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jovial1 year, 8 months ago
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If you are talking about 20 billion dollars the .6% becomes much more significant, or let's say 200 billion dollars. Then .6% equals about 120 million or in the latter case 1.2 billion dollars. When they talk about money on the stock exchange it's not in everyday terms that most people are used to. If all they lost was .6% of a hundred dollars I'm pretty sure (you would be right) it would be insignificant.
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