..our politicians have sold us down the river..

I agree, what can we do about it?

Huckabee’s an idiot. The money hasn’t been spent yet.

blink on October 12, 2008 at 3:39 PM

Huckabee’s an idiot. Nobody is big enough to manipulate this large of a sell-off.

blink on October 12, 2008 at 3:40 PM

Huckabee’s an idiot. Is he going to become a truther next?

blink on October 12, 2008 at 3:40 PM

BTW, did I mention….Huckabee’s an idiot.

blink on October 12, 2008 at 3:41 PM

“blink,”

You are entitled to your opinion, including your opinion that Huckabee is an idiot. You’ve already repeated it in four consecutive posts. I think we get it.

Nevertheless, you have given no supportive information to justify your ad hominem attack against Huckabee, nor have you defined your use of the word “idiot” and how Huckabee fits that definition.

Frankly, Huckabee appears to be an exceptionally intelligent individual. He is eloquent in his communication skills, has excellent public speaking abilities, recalls information from memory quite well, understands various topics rather well, is civil and respectful in most of the activities and communications I have observed him in, and, quite frankly, he appears to be rather intelligent, perhaps quite a bit above average.

In other words, you might not like Huckabee, and you might disagree with him, but I fail to see how Huckabee is an idiot in any stretch of the imagination.

Mike Huckabee is a true American hero.

It’s a travesty that they fixed the election in several states and waged a propoganda campaign in order to keep him off the republican ticket.

He would have won the general election in a landslide!

SaintOlaf on October 12, 2008 at 12:42 PM

SaintNutty – I’m thinking you are either senile or a liberal due to your delusion and hokey conspiracy theories.

Mike Huckabee is a true American hero.

It’s a travesty that they fixed the election in several states and waged a propoganda campaign in order to keep him off the republican ticket.

He would have won the general election in a landslide!

George Soros.

Rick554 on October 12, 2008 at 9:39 AM

I think you are totally right. Soros is bad news, has a record of corruption and would love to mess up our markets. Plus, if you are trying to drive people away from Capitalism and the Free Market, you wouldn’t think anything of doing what you could to destroy the market. You would think you have absolute moral authority.

Kaddafi torpedoes EU economy

Libya will take $7bn of assets out of Swiss banks and stop supplying oil to the country, as an acrimonious dispute that started with the arrest of Colonel Gaddafi’s son escalated.

The north African country said the moves were a protest against the “poor treatement of Libyan diplomats and businessmen by the canton of Geneva”, according to state news agency Jana.

Libya first threatened to stop oil deliveries after Mr Gaddafi’s son Hannibal was arrested in Switzerland in July. Two servants claimed they had been assaulted by Hannibal and his wife Aline. Libya didn’t go through with the threat and Swiss prosecutors closed the case last month, after the servants received compensation from the couple and dropped the charges.

Libya said it would revoke the latest decision to stop oil deliveries once it had an explanation about the way its diplomats and businessmen had been treated, and sought a formal apology from the Swiss government.

The country supplies about 20pc of Switzerland’s oil, but Swiss oil officials said the cut-off would not hurt availability or push up prices because the country would have time to find an alternative supplier.

Libya’s national oil company, Tamoil, said the decision to stop supplies had been taken by the government and did not know how long the suspension would last.

The Swiss stock market opened sharply lower, falling 6pc to 5461 points. Insurance shares were hard hit with Swiss Life falling 12pc , Zurich Financial and Swiss Reinsurance falling 8pc, 8pc and 12pc respectively. Credit Suisse fell 10pc.

/mercurial.. yet “rehabilitated“

People that have large portfolios of stocks are similar to Pearl Harbor’s ‘Battleship Row’, sitting ducks for
(1)shortsellers,
(2)deriviative collapses
(3)the normal ebb & flow of global market forces
(4)USA sliding into 2nd tier status via socialist entitlement programs & high corporate taxes, high property taxes and high regulation

Chickens are coming home to roost; in a few years the USD will be 2nd tier status- commodities and currency plays are all that is left unless McPalin gets in and cuts corporate taxes/reforms entitlements/pulls back regulation/cuts spending. Unless ALL FOUR occur, USA is headed for socialism/2nd tier status.

Smart money has seen this coming since when social security reform failed & Bush 43 passed the new drug entitlement. The 6th republic of France is on the way…

DowDayTrader

Blacksmith on October 11, 2008 at 11:39 PM

USD started gaining against every other major currency (except yen, and there’s a reason for that) around July 15 – the same time oil peaked (gold made a second peak as well, and iirc this is also when other commodities started to slide). Russia invaded Georgia on August 8.

As for the yen, on the foreign exchange market that’s the carry trade currency – borrow at a low interest rate (sell yen), invest in a high interest rate (buy euro, pound, etc.), take the difference. If you look at the yen pairs (USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, etc.) you’ll notice they’ve all, more or less, fallen off a cliff – people are buying yen and selling everything else (“unwinding” their carry trades). It’s risk aversion. There’s no reason, at least regarding fundamentals, that one would buy yen (Japan having almost no raw materials of its own, an increasingly sluggish economy everywhere it exports to, its deteriorating demographics, etc.).

So, we have obvious risk aversion going on. It isn’t that investors have confidence in the U.S. economy necessarily, it’s more likely they have less confidence in other economies.

He regurgitates a shined-up turd screaming “HUCKABEE”.

grtflmark on October 11, 2008 at 9:15 PM

Ewww, but best description of Huckabee ever!

I probably should not comment on anything that Huckabee says. I view this man as one step from pond slime. He has not been ethical or accurate in much that he has said to this point, so I see no reason at all to give him credence over the mysterious evil guys that are crashing the market on purpose.

Frankly, the faster and farther away this guy goes from our politics the better off we will all be. He is just fishing for air time so he stays in people’s minds. The problem is that he is creating more fear by saying things like this. That is not helpful.

The very idea that Huckabee will publicize something as unsubstantiated as this to the American people, and further erode trust in our financial institutions (especially at this delicate time) shows that he will stop at nothing to be self-serving. Even helping to make the economy even worse by rumor mongering is not out of his range of depravities. This guy is a clown and he just cannot stand to see his circus close.

Hawthorne on October 11, 2008 at 9:14 PM

Spot on and excellent post! It needs to be bumped to the current default page.

http://www.marketoracle.co.uk/Article6335.html

http://www.marketoracle.co.uk/images/financial-wmd_image002.jpg

Here’s the answer:

Mutual Funds enter or exit the market most every day at about 3:30 pm ET to balance their portfolios. If they are getting hit with redemptions, then they will have automated sell orders of entire portfolios to come up with cash to remit to clients. The opposite when mutual funds are flush with cash and need to spend it.

I technically trade the market and the reversals occurring the past 12 days are technically perfect in the futures and dow cash markets…people are bailing because they expect “The One” to win…He will confiscate the little people’s wealth in short order, is the assumption.

I am not “well heeled” but a have a few close semi-retired friends who are. They have been slowly pulling money out of the U.S. since the first of the year in anticipation of a Hillary or Obama win. After the Palin selection they both halted their transfer. Both have business interests in several countries. These are not just business guys, but also community leaders and heavily donate and are involved in local community education and non-profit groups.

If similar persons with a net worth of say $50 million uupwards have been doing this, then the market has been nibbled at for some months now.