Posted on 10/06/2008 2:21:09 AM PDT by RKBA Democrat
European shares fell sharply in early trading on Monday, with banks slumping after a $700 billion bailout package from the U.S. wasn't matched by a coordinated effort from governments in Europe as they continued to shore up institutions on a piecemeal basis.
The pan-European Stoxx 600 index fell 3.9% to 251.21, with a 5.2% drop for the banking index after an extraordinary weekend in which Germany backed its retail deposits.
(Excerpt) Read more at marketwatch.com ...
Don’t worry. Congress’s socialist bail out scam will save us from ourselves.
yup european stock markets are in free fall right now.
not good.
Current DJIA futures indicate the market will open 240 points south. Should be an interesting day.
I hope it opens down then picks up strength by the end of the day to show a small gain.
This would help ease fears in foreign markets and make for a better day on the Dow tomorrow.
Yeah, those futures are a very good indicator.
We’ll see.
/mark
They certainly are adjusting down a little.
http://www.bloomberg.com/markets/stocks/wei_region2.html
(no posting of content here from that site—link only)
But it’s not a truly alarming downward trend yet. That will only happen, if the herds of investors with shorter attention spans get really spooked. Moo!
If I were a scared, crazy investment banking daredevil, I would take a look at gambling on production in China, India, Japan, Brazil, Australia and/or Canada. If I were only a little less crazy, I would learn a lot about natural resources in stable Canada for long term considerations for diversified accounts but not without constant but cool attention. ...selling high and buying low along the way.
But for little fish like me, it’s long term, local deposit banking with neighbors only and labor with my own hands. :-)
It’s getting up near $300 bucks now. This could be nasty.
I suspect it’s going to get worse rather than better as the opening nears.
Early last evening it was up around $195. It dropped to around $50. Then it started rising and hasn’t stopped all night.
Here Comes the Sun...
We, American taxpayers, had to do this bailout because or the mortgage crisis, at least that is what we were told. We were told that the mortgage crisis was because people bought homes they could not afford, and we were told about bundling etc. etc.
These mortgages however were made in American banks, to Americans, so why does this impact foreign markets? Did they make the same kinds of bad loans?
I know, I am terribly dumb about this stuff....no need to tell me that:/
Waiting with baited breath to hear from all of the Freepers who scolded the rest of us that this bailout was necessary because it would restore confidence.
Yes, some of the foreign companies did make bad loans, and others bought the funny investments from parceled-up US loans.
The mortgages were sold all over the world.
The crisis is a credit crisis, the mortgages the cause.
The media is doing a good job of causing panic.
Have to wonder what the euroweenies would think if they knew the truth that it was the dems who brought this down on our world.
The over leveraging that was allowed to occur in the global derivatives ponzi scheme is mind boggling. Estimates are between $45-$70 trillion to have been crated in a fairy tale financial credit economy.
European countries decided to go their own way and protect their own country's depositors. What that really means is they have decided to screw the banks, bondholders and creditors in other countries. Goodbye European financial market, nice knowing you.
Jakarta is down more than 10% right now.
If one has good credit, minimal debt to income ratio, the banks want badly to lend that person/company money.
Some did (e.g. England). Some didn't but bought our MBS. Some of them were "smart" and bought insurance on thos MBS or insurance on MBS that they didn't own. Turns out, we the taxpayers, and our overseer Paulson own one of the biggest insurers, AIG. And we aren't going to pay, how about that? So Europe is screwed (again).
Did you see the hilarious skit on SNL.
The two losers who lament they are the victims.
No jobs, no income, dishonorable discharge from the military, prison records. Can’t get a loan! And oh yes, each with one or two pregnant girlfriends.
The msm is ignoring the skit because it blames the dems for the mess. It was hilarious in a sad kind of way.
Another word for Invest is Risk. They risk, if it turns out good, they walk away with a profit, if they risk and lose, we pay, even when the losers are from other countries. Is that about the summation of it all?
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