Posted on 02/03/2014 9:19:06 AM PST by John W
Disappointing factory data sent stocks falling hard on Monday, with the Dow dropping over 200 points and extending losses after its worst monthly percentage drop since May 2012.
The markets had wavered ahead of the report from the Institute for Supply Management (ISM) which said its index of national factory activity fell to 51.3 last month, to its lowest level since May 2013, from a recently revised 56.5 in December.
(Excerpt) Read more at nbcnews.com ...
Is that after the -300 pts last week, or did they go back up and back down? Volatility was happening for months before the crash of 2008....and when market is unstable.
Texas has been letting people know that the state created over 30% of the Nation's jobs in the last decade. In the next one it will easily be over half with Obamacare still floating.
Blah, blah, blah.
Sell mill quantity steel to OEM and distribution (independent rep for a number of different ones) and then we own a manufacturing company specializing in roll threading of steel bar.
78.7% Average mfrg capac util rate 1972-2012;
77.2% Dec. 2013 (mining is doing a little better);
http://www.federalreserve.gov/releases/g17/current/;
2008 is not a good base year for comparisons;
http://www.federalreserve.gov/releases/g17/current/ipg1.gif;
Surely, you're losing money in those cash accounts from inflation. Does that not concern you?
I said that there were other reasons I am not participating in the equity markets. I don’t care that I am losing on inflation, of which I am fully aware.
War is hell, in every way. If going completely broke for love of my country and what it historically stands for, I would.
Wait for the 3 pm sell off.
Short term cash may be the best way to go for now, though...
Unless you can do a quick conversion from securities to physical metals.
It is for our business :-) We peaked in 2007 and started falling off in 2008. 2009 fell off the table.
Okay thanks. We run multiple foundry’s and manufacture iron and brass products.
Down 293.29(1.87%) 3:32PM EST
-309
Yep, my Proctor & Gamble stock is in the toilet. I’m afraid to check it anymore. At least I have the dividend to look forward to this month.
"There's a risk-off feel," Perkin says. "U.S. corrections are healthy. It's how you avoid bubbles by having speed bumps in the road. To say the U.S. market is overdue for a correction is maybe the understatement of the year. The free ride is over and fundamentals will matter more now that the Fed is printing less money."
Well, there it is. There are still some who don't want to know the truth. The shout: "LALALALA.....I can't hear you!!!" The Fed has created ficticious money, which the vampires and thieves have gorged themselves on.
I think that if there is a big enough "correction" you could see real panic. Here is the other little problem: we have between 40,000 to 50,000 people in this country retiring per week. Many of them are heavily reliant on stocks to keep their IRAs afloat.
If the damage is worldwide at some point in the future, and things are bad enough in the US, I can foresee a nationalization of retirement accounts.
People call me crazy, but I really do see that as a possibility. Obama's new "MYRA" program will result in more and more people claiming vestment in government guarantees to their retirement funds. People have already been burned again and again by shaky markets. Panic and Fear are their own great motivators.
It isn't all that crazy either. The Bible says there will eventually be a one world government and currency (who knows exactly when). A precursor of that could be on the horizon.
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