Dow (Futures) Down 150 Points

DJIA ^ | 10-05-08 | staff

[familyop]

I’m just shocked that so many people are so naive and uneducated...not. Those of you who want the truth should read about the Garn-St. Germain Depository Institutions Act of 1982 and the “bailout” of that period. Then read the actual text of the recent bill that the marching morons are screeching about.

Ignore the propaganda. Stop allowing crooks of any political party to corral you into voting for their anti-American, anti-family puppets with name-calling, fear and dishonest slogans. Save resources for your families. Become builders and gardeners. Enjoy the ride. :-)

[spectre]

Israel stock exchange nosedive portends recession

DEBKAfile Special Report

October 5, 2008, 10:58 PM (GMT+02:00)

Stocks and bonds dropped 6-10 percent in the week’s first day of trading Sunday, Oct. 5, at the Tel Aviv stock exchange, 23 percent in the last month. Major corporations were targeted, exposing many jobs at risk and cutting deep into savings and pension funds programs.

The clamor grew Sunday for the caretaker government to intervene and provide a safety net for savings accounts and pension funds. The anodyne statements issuing from prime minister Ehud Olmert and finance minister Ronnie Bar-On pointing up how sound the Israeli financial and banking system is compared with the United States, have fallen on deaf ears.

Investors are fleeing in a panic and showing their lack of faith in the government, central bank and the effectiveness of the US bail-out as a panacea for the financial ills spreading out from New York..

Bonds of the country’s biggest group’s took the heaviest losses Sunday: Lev Leviev’s Africa Israel, the Eliezer Fishman group and Yitzhak Tshuva’s Delek Real Estate, with dire effect on their subsidiaries and jobs. The TA-25 Index dropped 6.00 percent to 796.37 points and the TA-100 Index fell by 6.13%, to 714.26 points. The Tel-Tech Index declined by 8.27% and the Real Estate Index plummeted by 9.37.

Secretary General of the Histadrut Trade Unions Federation, Ofer Eini, spoke up for the first time Sunday to convey a hard message. The progressive collapse of the job market has become unstoppable, he said. At the very least, the government must guarantee pension funds so that when workers are fired or retire, their life’s savings are protected. The trade unions leader called on the finance minister to top up the state budget to rescue diminishing individual savings and investments."

sw

[familyop]

"Everything is red. Scary. Checking the Asian markets before one goes to bed doesn’t exactly make for a restful sleep. :("

Don't worry. China has already started adjusting to producing for its own consumers and other trade partners (Africa, South America,...). She's currently in the process of gobbling up natural resources around the world to keep it going, including buying many oil companies. As China begins to take over the South Pacific militarily, global investments in the PLA will grow, as over 150,000 of her businesses--well over half--and all of her banks are state-owned.

Enjoy the ride, while I watch for the pretty fireworks to come in our cities from the top of our continent. ;-)

[Digger]

if the House did the right thing (suspend mark to market, repeal sarbox, suspend cap gains tax) then yes. But there was no opportunity to offer an alternative.

Right On!

[hedgetrimmer]

Wall Street is reacting negatively to the passage of the banking bailout plan

Many investment banks are wondering why businesses with obviously failed business plans are being propped up by the federal government.

[icwhatudo]

Dow down 200 now at 10164.00, Nikkei Down 465.05 (4.25%)

DJIA may go under 10,000 today.

[SlowBoat407]

DJIA may go under 10,000 today.

That's okay. Congress can pass a bill to buy up stocks at inflated prices to keep those numbers up. I mean. that's how our economy works, right?

[Hoodlum91]

financial markets hate this plan because it doesn’t address the underlying problem of the credit market. Banks need cash, not bad paper assets removed.

[spectre]

Here we go!

It's not going to be pretty.

sw