The DOW? DIVE, DIVE, DIVE…
|Trade Time:||Aug 9|
It’s coming. The dow is on the brink of collapse. The disaster is spreading:
Credit fears grip Asian stocks
By Ian Chua
HONG KONG (Reuters) – Asian stocks fell across the board on Friday and the yen extended gains as investors dumped riskier assets following a rout in global markets sparked by a flare-up in credit jitters…
China is not in the mood to play nice:
Uncle Sam, Your Banker Will See You Now
By Paul Craig Roberts
08/08/07 “ICH“ — – Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs. Two senior spokesmen for the Chinese government observed that China’s considerable holdings of US dollars and Treasury bonds “contributes a great deal to maintaining the position of the dollar as a reserve currency.”
Should the US proceed with sanctions intended to cause the Chinese currency to appreciate, “the Chinese central bank will be forced to sell dollars, which might lead to a mass depreciation of the dollar.”
The credit crunch is having a ripple effect on world banks:
Stocks Tumble as French Bank Reacts to Home Loan Worries
Stocks dropped sharply as soon as trading opened today after a French bank, BNP Paribas, suspended operations of three of its funds in the wake of turmoil in the American market for home loans and the European Central Bank and the Federal Reserve injected cash into the financial system because of tightening credit markets.
The chart above shows what a disaster the credit picture is. This is gonna get UGLY!
Personal bankruptcy has been skyrocketing!
The pig rich have been getting more, while the rest of us get screwed! What will that idiot in the oval office say about all this?
There is little hope that the insane economic voodoo the neocon-artists have been pulling for years will be sustainable. Even if the market recovers short term, this kind of instability will lead to problems long term. In the end we will pay the price for the excesses of the pig rich corporateers. They always dump their bills on the rest of us!
Even with all the bad news, there is some good news:
Sheehan announces House candidacy
By SUDHIN THANAWALA, Associated Press Writer Thu Aug 9, 2oo7
SAN FRANCISCO – A tearful Cindy Sheehan cited her son, killed in Iraq, as her inspiration as she announced her candidacy Thursday for the U.S. House against Rep. Nancy Pelosi. Sheehan last month said she intended to run against Pelosi, the House speaker, if the San Francisco congresswoman didn’t move to impeach President Bush by July 23. Sheehan said Thursday that Pelosi had “protected the status quo” of the corporate elite and had lost touch with people in her district, most of whom, she asserted, want American troops out of Iraq.
This is the answer to our ongoing problems! We need more real people like Cindy to run for office. We need to vote for folks just like you and me. We need dump the phony, thieving celebdidates of the two parties of the apocalypse. We need run ourselves against the dem and repub usual suspects come election day. YOU should consider running for office yourself, The more of us that throw in our hats, the better!
The telepathic crickets are glad they don’t own any stock and so am I!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer