junglesoup Posted February 27, 2007 Report Share Posted February 27, 2007 Just saw on that the China market plunged 10% today. The Dow Jones has dropped over 500 points which is one of the biggest 1 day falls ever. This could be the start of some market turbulence underway... Link to comment Share on other sites More sharing options...
samak Posted February 27, 2007 Report Share Posted February 27, 2007 shit! have to work many days for what i lost today! Link to comment Share on other sites More sharing options...
OCgringo Posted February 27, 2007 Report Share Posted February 27, 2007 Wow if you look at the US$-Baht rate its all over the map the last 5 days http://finance.yahoo.com/currency/convert?from=USD&to=THB&amt=1&t=5d OC Link to comment Share on other sites More sharing options...
Dali Posted February 27, 2007 Report Share Posted February 27, 2007 I wouldn't be surprised to see the carnage continue tomorrow. The markets have been rising faster than corporate profits for some time, so a fall was inevitable. In addition to the Chinese drop, former Fed chairman Alan Greenspan said yesterday that a recession was possible this year. Even though he is no longer at the Federal Reserve, his opinions probably carry more weight than anyone else on earth. Link to comment Share on other sites More sharing options...
MooNoi Posted February 28, 2007 Report Share Posted February 28, 2007 The world markets were well overdue for a correction. It was inevitable. Link to comment Share on other sites More sharing options...
Denarius Posted February 28, 2007 Report Share Posted February 28, 2007 Largest ever VIX spike. Investor complacency has turned to panic. Someone has to win and someone has to lose. Link to comment Share on other sites More sharing options...
nordicman Posted February 28, 2007 Report Share Posted February 28, 2007 We had our gloom then our boom and now I am afraid it is time for DOOM. A perfect storm is forming in the credit markets, global tensions especially Iran/Iraq and with that the price of oil goes ballistic! buy gold. Link to comment Share on other sites More sharing options...
Dali Posted February 28, 2007 Report Share Posted February 28, 2007 buy gold. Never quite understood the gold thing. Can't eat it, drink it, smoke it, or f*#k it, so what's the point? And I hate those 'grills'. Link to comment Share on other sites More sharing options...
nordicman Posted February 28, 2007 Report Share Posted February 28, 2007 The US dollar is being propped-up while at the same time the printing presses are going full bore and credit is still quite loose. We don't make anything tangible anymore, We are lying about the inflation rate (by using the "core rate" and hedonic adjustments etc.) At some point confidence will erode and there will be a dash to get out of the dollar. It is already happening albeit slowly; the price of gold has been rising on average 15%/ year for the last 6 years. Other currencies are also being inflated but apparently not as much as the dollar. Gold (and silver) should hold its value. For example: I just heard this one. In the US a pre 1965, 90% silver quarter bought a gallon of gas in the early 60's. Today that quarter is worth about $2.50 enough to buy a gallon of gas today. Link to comment Share on other sites More sharing options...
chuckwoww Posted February 28, 2007 Report Share Posted February 28, 2007 World markets reflect the Chinese economy more than anything these days I think. That's where the growth is. Yesterday a few people saw it as overheated. The metals all got whacked and there was no rush to gold. Most people now regard gold as a relic. In plastic we trust. Link to comment Share on other sites More sharing options...
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