Posted on 10/02/2011 8:34:31 PM PDT by mick
Hang Seng Index leads Asia fall, diving more than 4%. Hong Kong stocks tank as financials plunge on reports that Greek budget misses austerity targets. • Japan stocks dive, with exporters tumbling • Australian stocks fall sharply on Europe jitters
(Excerpt) Read more at marketwatch.com ...
ZOMG...ALL CAPS ! ! !
The real question at this point is... are any of the current candidates going to be able to fix this mess? There is a point beyond which no one will be able to fix this, and we seem to be fast approaching that point. I don't really see any of the candidates proposing to do anything drastic enough to meet the challenges they are likely to face if they were to be elected ... well except Paul for course but he takes it too far, and is frankly a little insane, but on some specific topics he's right on the mark.
If it ain’t a 10% fall, it means nothing.
By getting elected instead of Obama, they will begin fixing it.
However, truly fixing it is going to take *decades* because of all the blatantly unconstitutional crap that’s been done in this Administration. Even if all of it gets voided (good luck), the damage has still been done. The nationalization of GM and the screwing of the bondholders alone will have a chilling effect for at least a decade if not more.
Just ask the British about how that worked out. You basically *can’t* get venture capital for anything automotive in the UK any more because of it.
“Bring your desires down to your present means. Increase them only when your increased means permit.”
- Aristotle
QUEUE: Calling Herm, Cleanup aisle 3, Herm, Aisle 3
SPX has been looking like the august low won’t hold, and this may be the nudge to get it below that level.
I think drastic measures have been making the problem worse. Europe has to burn itself out all by its little lonelys while we watch and hopefully learn from it.
Right you are.
To add detail: Even the healthy parts of the UK automotive industry died because of that - they couldn’t get the capital they needed, despite having good balance sheets. Not even UK banks would invest in them. The “splash” damage from that was enormous. Bankruptcy would have been easier to survive, and bankruptcy is what should have happened to GM.
The Dow Jones was down 12% last quarter. Does that count?
“The market can stay irrational longer than you can stay solvent”
unk but attributed to Keynes
If Europe collapses, we will follow. Globalization includes the banking industry and the world economy. Greece will just set off the house of cards. The welfare state is no longer sustainable.
You must be joking. Our fate is intertwined with Europe's. We are not bystanders, but rather, we are deeply involved in their economies and vice-versa. The Fed bailed out foreign banks with trillions of dollars in 2008.
New World Order/One World Government is approaching.
ping
This is not just Obama’s mess. It is a global meltdown from years and years of frivilous spending everywhere and by everybody.
What Obama has done is accelerate it by leaps and bounds. If we don’t get a transformational conservative we are totally and completely screwed.
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