"I SAID: THE RECESSION IS OVER!!!"
Posted on 08/17/2009 5:19:22 AM PDT by paul in cape
Edited on 08/17/2009 5:22:11 AM PDT by Admin Moderator. [history]
[Uh oh..Here it comes]
U.S. stock futures were pointing to a weaker start for Wall Street on Monday, amid a backdrop of economic worries and skidding overseas markets, with weak figures from Lowe's adding to the bearish sentiment.
S&P 500 index futures were down 21.8 points, or 2.2%, to 984, while Nasdaq 100 futures were off 30.5 points, or 1.9%, to 1,584.50. Dow Jones Industrial futures fell 191 points, or 2.1%, to 9,130.
Overseas, markets were gloomy. European stocks fell in a broad-based decline with capital-adequacy worries weighing on banks after Swedish lender Swedbank said that it will raise around 15 billion Swedish kronor ($2.1 billion) by issuing shares in order to strengthen its capital base.
Meanwhile in Asia, the Shanghai Composite sank 5.8% to 2,830.63, closing below the 3,000 level for the first time since the end of June, marking the worst fall since November. Falling commodity prices and concerns over liquidity tightening measures by the government were blamed for the fall, with metal stocks hardest hit. The Hang Seng Index lost 3.5%.
I don't know about you, but I'm out completely and am in all cash for the forseeable future.
No way I’m taking the equivalent of a 40% hit on what I’ve got in my retirement acct (almost entirely bonds), and I don’t think TIAA-CREF let’s you early out anyway, but I have completely stopped contributions and am keeping it in cash or debt paydown.
As best I can be yes. This is going to be a roller coaster, mostly downhill, for a long time. What the market saw last week was artificial. There is no recovery in housing or industry or labor or financial sectors. The policy decisions coming our of Washington are ruining all of them in the long run.
I keep 100+ shares of ALU ($3.40) to remember the 600+ shares of LU ($70+) that it used to be. It helps me remember that I should stay out of the market. Everything else is in cash.....and not in a bank either.
Stocks being returned to their rightful owners. Next con (rally) inevitable.
I don’t know about you, but I’m out completely and am in all cash for the forseeable future. ......
DITTOS! Oil @$66 = more deflation and down stock market. Everyone is predicting a China bust collapse and deflation. Even if only half true this will impact worldwide
Do not worry, the Goldman Sachs folks will ensure that the biggest fake market bubble should go on until they suck all the suckers money into it.
And that $66 is artificially high.
I think the poster means changing fund types out of stocks and into money market or equivalent, not cashing out.
Regarding TIAA-CREF, it depends on the internal fund you are invested with. Generally, moves out of CREF funds are same day while moves out of TIAA funds are delayed.
In aproper eeflation crude should be at $40. I agree that today’s price of $66/barrel is artificially high. Due to speculation or market manipulation or both. All futures volumes are down so it takes less doing to jack around the oil markets
I’m confused, which is my nomrmal state anyway, but are we heading into deflation or inflation? Or both, which I think is called stagflation.
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