Global Economy Bursting?

[Randolph Kinney]

Gold falls 5.6% to close at $1,757.30 in biggest one-day drop since March 2008

http://www.marketwatch.com/story/go...t-day-since-march-2008-2011-08-24?siteid=bnbh

Gold for December delivery lost $104.

 

[coolhandluke]

Correction

Humm, last time I saw headlines about layoffs on Wall Street, Jimmy Peanut was in office.
The subsequent downturn was so fierce it took Reagan & Co. years to clean up the mess.
Hold on to your hats, looks like it's gonna be a fierce wind.
"The more it changes, the more it stays the same."

The last time we saw headlines about layoffs on Wall Street, GWB was in office, remember way back in 2008, we lost 7 million+ jobs due to his economic and foreign affairs (WAR) policies.
Enjoy your Schadenfreude while you can, but sooner or later it will be your turn, "The more you stay the same, the less change for everyone else"

 

[Couch Potato]

Thousands Of Layoffs To Hit Wall Street This Fall

Read more: http://www.businessinsider.com/wall-street-layoffs-7-2011#ixzz1VxaNo8qR

This is a silly headline since changes in regulations killed "Wall Street" already. It should read:
Thousands Of Layoffs To Hit Banks This Fall.

 

[Randolph Kinney]

This is a silly headline since changes in regulations killed "Wall Street" already. It should read:
Thousands Of Layoffs To Hit Banks This Fall.

Very little difference between Wall Street and, for example, BofA or Wellfargo or JPMorgan-Chase, etc.

Banks are no longer lenders as in the traditional and historical sense. They are the front end to the federal reserve and the U.S. Treasury, implementing policy and borrowing demands of the government. They also speculate and hedge their interest rate exposure.

They don't need loan officers, processors, underwriters, etc.

 

[Workbox]

Gold falls 5.6% to close at $1,757.30 in biggest one-day drop since March 2008

http://www.marketwatch.com/story/go...t-day-since-march-2008-2011-08-24?siteid=bnbh

Gold for December delivery lost $104.

If you do charts you would have seen this Gold Bubble. :new_smile-l:

 

[Workbox]

Thousands Of Layoffs To Hit Wall Street This Fall

Read more: http://www.businessinsider.com/wall-street-layoffs-7-2011#ixzz1VxaNo8qR

This is it folks, they are going to run the market one more time and then they will release the hounds of economic hell.

I'm already positioned to go long on the XIV. I think we will hit the 200 DMA on the SPX and then the stumble may begin. If we do I will go Long on the VXX.

I may not get rich, but I hope its enough to be humble.

 

[Randolph Kinney]

My lender refuses to repossess my car

http://www.bankrate.com/finance/deb...repossess-my-car.aspx?ec_id=m1080689,m1080689

Seems like lenders really don't want to repossess houses and now cars.

 

[Randolph Kinney]

First-time jobless claims last week rise modestly to 417,000, U.S. data show

http://www.marketwatch.com/story/weekly-us-jobless-claims-rise-5000-to-417000-2011-08-25?siteid=bnbh

Initial claims from two weeks ago were revised up to 412,000 from an original reading of 408,000.

 

[Big ole Boy]

I don't see the bubble for Gold ....... anywhere ....

... I see all currencies that are not in some way tied to gold .... to loose against gold .....

.... I see gold at $1 million dollars an ounce ....

.... markets will shut down before published pricing of gold gets to that level ...

... I figure markets will shut down when gold goes over $5,000 to $8,000 an ounce .....

... now the dollar may get stronger against other fiat currencies ..... but all world currencies not tied to gold will fall ......

..... but thats just me ...

 

[Terrel L. Shields]

Gold is just in a profit taking mode... regroup and start up again at the first sign of bad news and that bad news is likely going to relate to European banks