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Panic: S&P down over 6%, Dow down over 5%
Bloomberg Terminal | 10/6/08 | Me

Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo

Looking at hugh panic in global mkts right now. This is vey series.

Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: australian; bailout; djia; moneylist; stockmarket; votingwithpocketbook
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To: Future Snake Eater

Bawney Fwank talks like he has something in his mouth all the time???


81 posted on 10/06/2008 8:02:34 AM PDT by TexasCajun
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To: mysterio

I’m sorry, but Paulson doesn’t know the secret chant...only ONE knows it...


82 posted on 10/06/2008 8:02:39 AM PDT by brytlea (Obama--Keep the change!)
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To: NVDave
What you’re seeing is a deflation as a result of de-leveraging,/i>

I've been following your posts for the past few weeks and you seem very knowledgeable - can you please explain what you mean by this.

83 posted on 10/06/2008 8:02:45 AM PDT by ARCADIA (Abuse of power comes as no surprise)
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To: frankenMonkey

Cramer telling everyone to sell? Good Lord....


84 posted on 10/06/2008 8:02:49 AM PDT by sarasota
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To: ari-freedom

I hate to say it, and do not condone it, but Obama will be more hated than Lincoln was in 1860.

Maybe it is time for Conservatives to just concentrate on State Government and use States Rights.

Give up on Washington entirely, make the Red states stronger, and dare Washington to interfere.


85 posted on 10/06/2008 8:03:59 AM PDT by Wilder Effect
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To: Thane_Banquo

There are no financial problems. Not a single one.


86 posted on 10/06/2008 8:04:01 AM PDT by McGruff (Read my lips, NO NEW BAILOUTS!)
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To: Freedom Dignity n Honor

they were waiting for what deal they would get before making new loans. So the market probably took a hit on monday when it realized they’d have to wait even longer (uncertainty) for a final deal so that banks could go back to lending again.


87 posted on 10/06/2008 8:04:15 AM PDT by ari-freedom (Betcha they're good. Why shouldn't they be? Their one mistake was giving up me!)
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To: Freedom Dignity n Honor

I received letters last week raising my credit limit from every single credit card company where I have an open account.


88 posted on 10/06/2008 8:04:21 AM PDT by jennyjenny
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To: sarasota

Craemer was Eliot Spitzer’s best friend from Harvard.

He is a LIBERAL for Obama.


89 posted on 10/06/2008 8:04:38 AM PDT by Wilder Effect
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To: frankenMonkey
This just in... Cramer over at NBC told everyone to sell everything as fast as possible. Me... I'm buying up some great bargains this morning.

Cramer probably is too...
90 posted on 10/06/2008 8:04:39 AM PDT by Antoninus (Ignore the polls. They're meant to shape public opinion, not measure it.)
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To: Thane_Banquo

I think we will see the biggest rally in the history of the market once people realize that McCain will win.

That said, today’s market certainly takes the Obama cavorts with Terrorist message off message for today.


91 posted on 10/06/2008 8:04:41 AM PDT by cw35
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To: Boonie

Jim Cramer is telling everyone to pull all their money out of stocks. Whatever will he talk about on his nightly show?

Good contrarian indicator. Everytime, do just the opposite of what he recommends.


92 posted on 10/06/2008 8:04:41 AM PDT by renosathug
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To: Norman Bates
I'm beginning to agree...I think there is a concerted effort behind all of this, to tip the economy over the edge. This is an economic Reichstag Fire.

God save the Republic.

93 posted on 10/06/2008 8:05:16 AM PDT by Boagenes (I'm your huckleberry, that's just my game.)
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To: Thane_Banquo

BALLYHOO
(Phil Spitalny & His Orchestra, Hit of the Week, October, 1931)

Sure, business is bunk,
And Wall Street is sunk,
We’re all of us broke, and ready to croak.
We’ve nothing to dunk,
Can’t even get drunk,
And all the while, they tell us to smile:

Cheer up, gentle citizens, though you have no shirts,
Happy days are here again. Cheer up, smile, nertz!
All aboard prosperity, giggle ‘till it hurts!
No more bread-line charity. Cheer up, smile, nertz!

Cheer up, cheer up, cheer up, cheer up, cheer,
Up, cheer up, cheer up, cheer, better times are here.
Sunny smilers we must be, the optimist asserts,
Let’s hang the fat-head to a tree! Cheer up, smile, nertz!

The world’s in the red,
We’re better off dead,
Depression, they say’s in session to stay.
Our judges are queer,
Our banks disappear,
And all the while, they tell us to smile:

Cheer up, gentle citizens, though you have no shirts,
Happy days are here again. Cheer up, smile, nertz!
All aboard prosperity, giggle ‘till it hurts,
No more bread-line charity. Cheer up, smile, nertz!

Cheer up, cheer up, cheer up, cheer up, cheer,
Up, cheer up, cheer up, cheer, better times are here.
Sunny smilers we must be, the optimist asserts,
Let’s hang the fat-head to a tree! Cheer up, smile, nertz!

Nertz!


94 posted on 10/06/2008 8:05:36 AM PDT by Fiji Hill
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To: frankenMonkey

“This just in... Cramer over at NBC told everyone to sell everything as fast as possible.”

___________________________

BOOOYAK, BOOOYA , BOOOHOOO, BOOOHOOOWAAAAAHHH!!!!
(Cramer crying in the corner)


95 posted on 10/06/2008 8:05:52 AM PDT by 1curiousmind
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To: Thane_Banquo

So government doesn’t work, even on bailouts for problems they caused....who knew?


96 posted on 10/06/2008 8:06:06 AM PDT by 1Old Pro
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To: Thane_Banquo
Well that bailout bill sure did the job.

Thanks George Bush.

Thanks McCain.

You might as well raise the retirement age to 90, cause I ain't gonna be able to retire before then.

97 posted on 10/06/2008 8:06:08 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: NVDave
What you're seeing is a deflation as a result of de-leveraging.

That's exactly the root cause, but today's specific problem is that Europe has turned financially protectionist. Basically each country is trying to protect its own savers at the expense of other countries' creditors. In a spiral now that Germany flipped yesterday.

98 posted on 10/06/2008 8:06:14 AM PDT by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: Boagenes
I'm beginning to agree...I think there is a concerted effort behind all of this, to tip the economy over the edge. This is an economic Reichstag Fire.


99 posted on 10/06/2008 8:06:37 AM PDT by NeoCaveman (Back in the USSA)
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To: listenhillary

if angry people targeted the right people, Pelosi wouldn’t be speaker of the house just because republicans spent too much


100 posted on 10/06/2008 8:06:47 AM PDT by ari-freedom (Betcha they're good. Why shouldn't they be? Their one mistake was giving up me!)
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