Posted on 08/18/2011 6:47:20 PM PDT by TigerLikesRooster
Asian markets slammed in global selloff
By Yoshikazu Tsuno | AFP – 1 hour 17 minutes ago.
Asian stock markets early Friday caught a global selling fever after new warnings of world recession coupled with fears that rapid-fire growth in China is set to slow down.
Investors in Tokyo, Seoul and Sydney picked up on the mounting anxiety evident in the United States and Europe, where fresh carnage ripped across the markets on Thursday.
"The bears returned aggressively overnight as very disappointing US economic data and fears over the stability of European banks had traders reaching for the sell button," IG Markets analyst Ben Potter said in Australia.
"It looks like we're set for a very ugly end to the week as fear and panic-driven trade once again dominate the market," he said.
"We could have the added pressure of traders looking to close their positions ahead of the weekend given the high levels of uncertainty."
Within 15 minutes of opening, Japan's Nikkei share index lost 2.07 percent to 8,758.62 with banking and financial shares particularly in the firing line.
(Excerpt) Read more at uk.news.yahoo.com ...
P!
Don’t worry; 0 is on vacation at a luxurious location. Everything will be just dandy....
The Hang Seng is just reacting to Biden’s monetary reassurance tour.
new warnings of world recession
Everybody should take a nice vacation. Don’t worry, everything will be just fine, for collectivists anyhow. For the gainfully employed, not too good.
Thanks for posting, TLR.
I appreciate your updates re: Asian economics. If you have a ping list, will you add me?
Thanks.
Also, you may be interested in this tidbit from the other side of your world (pretty alarming development):
It HAD to be the Fed's PPT.
If that's the case, I expect a mild day tomorrow. If not, slaughter.
What will be will be, we have known for quite a while we were in a large shell game that one day would fail...regular folks know that you can’t borrow money for basics and expect to make it...
We Need to withdraw DC’s ability to raise funds in any way and have the states support the federal g with clear money..that way the people can control the fed..
Come Lord!
yes! that’s what my wife says daily.
When can Obummer’s vacation be re-distributed to those who can’t afford a vacation?
Watching the Asian markets fall and gold hitting $1846.00 here:
Tomorrow ain’t gonna be pretty!
What? $1,860?
Kitco shows it peaked at $1846.30 just a while ago. I may be up all night watching this because I know I won’t sleep tonight.
Making money on AU, losing on T-bills. Glad we bailed on stocks a couple years ago and paid everything off and bought more gold/silver.
I suppose it would be an easy call to say that gold will top or at least hit $1860 by tomorrow morning.
My guess based on recent history is that there will be one more spike up, maybe as high as 11.5k or so, to clear out the weak shorts - and then the bottom will fall out, with the big boys positioned to clean up.
“We Need to withdraw DCs ability to raise funds in any way and have the states support the federal g with clear money..that way the people can control the fed..”
And watch for the valueless-paycheck/retirement ones (the valueless paychecks and retirements propping up the “market” and flooding pressure on fuel, oil, food, and essentials prices), declare another “crisis” for more.
ALMOST $1870!
SPOT MARKET IS OPEN
closes in 12 hrs. 2 mins.Aug 19, 2011 05:13 NY Time
Bid/Ask 1863.40 - 1864.60
Low/High 1838.70 - 1869.90
Change +38.50 +2.11%
30daychg +261.50 +16.32%
1yearchg +631.00 +51.20%
Of course they want more of our money...to hell with them and the countries we give money to be our friends...state control...
I don’t think that’s that big of a deal.
It’s just the Fed helping the Swiss try to stem the rise of the Swiss Franc. Mind you, the incredible strength of the Franc is a bad sign in and of itself.
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