Posted on 08/02/2011 2:35:56 PM PDT by John W
NEW YORK (CNNMoney) -- U.S. stocks plunged on Tuesday as fears about a weak U.S. economy were enflamed after investors got another disappointing economic report - this time on consumer spending.
The selloff was so broad and so deep it pushed the S&P 500 into negative territory for the year and bond yields to their lowest levels in nine months.
(Excerpt) Read more at money.cnn.com ...
DOW is down 265 points this morning, at 11,866.
That was yesterday.
How crippling would those defense cuts be if we brought our troops home from Europe? If we made them carry their own weight and reallocated that money to American defense, we'd probably be just fine. Maybe even come out ahead.
What does “QE3” and “QE4” stand for? Many thanks, Freepers, for any and all explanations.
“Obama’s RG speech was all about spend, spend,spend, raise taxes, raise taxes, raise taxes, enough to scare the hell out of any market investor.”
Wreaking vengeance for being forced to “compromise”.
Thinking out loud:
Is that the true measure of the value of gold? For example, if SHTF, would you trade your gold for dollars? (or euros, or whatnot). I know we’re used to using the dollar as the exchange medium, but how trustworthy is it?
Interesting. Looks like the Usurping Marxist Onada has lost his Wall Street cover. I thought the budget travesty was good for America. Wonder why Wall Street baled.
Its over.
11,735.99
-130.63 (-1.10%)
Real-time: 10:47AM EDT
US Stocks Lower As Uncertainty Prevails; DJIA Down 28
Wall Street Journal - 36 minutes ago
11,731.14
-135.48 (-1.14%)
Real-time: 10:51AM EDT
First of all, I believe in the American economy and don’t fear SHTF. I follow the advice of several public advisers who believe we will muddle through. I don’t see people trading bits of gold for goods any time soon or even ever.
Second, I don’t own any gold. I bought or rather within my IRA traded shares of stock funds for shares of a Gold stock fund back in 1999 when there was worry about Clinton. That fund has risen exactly with the price of gold. It lags some. that is the change yesterday in gold will take a few days to be reflected in the fund net asset value.
“Is that the true measure of the value of gold? “
I place great stock in the teachings of a book called The Power of Gold. My nephew gave it to me on audio cd and I listen to it while driving. It relates the history of gold as an influence of and by the events of the day. It is to me an extremely interesting interpretation of historical figures and events as related to trade, the economies and gold.
Always, that is always for thousands of years, when the rulers get in trouble they devalue their money and gold eventually comes back as the economic threshold.
One final thought. It is very difficult to understand the global economy and how the various national and regional economies influence our economy and markets in general. The relation between the US$ and the Euro isn’t meaningful any more as a global indicator. The price of gold is. In the immediate present,the price of gold can be taken as the only true indicator of global economic belief.
The price continues to rise and to me that means, taken as a whole, people see uncertainty and gold is the best cure for that anxiety.
For every point it drops, it's just showing us the affection that we deserve!!
/sarcasm off/
Here's an amusing and informative explanation: Quantitative Easing Explained .
Here's an amusing and informative explanation: Quantitative Easing Explained .
You too can get rid of your worthless dollars.
Call my new company:
Jim Bobway Currency Exchange
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