Watch the stockmarket party tomorrow...

Discussion in 'Stock Market' started by iamwhatiseem, Dec 7, 2011.

  1. iamwhatiseem
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    iamwhatiseem Gold Member

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    ...based on absolutely nothing.
    The Eurozone stated they w"will not fail like the US "Supercommitee"....so they have...wait for it...this is BIG.......agreed...unanimously...to agree to do something in the near future. :eusa_clap::eusa_clap::eusa_clap::eusa_clap::eusa_clap:

    Thank God...they have agreed to do something about the crises at some point later.

    However - you watch - the stock market will rise significantly because of it. Just another reason to resume the facade.
     
  2. iamwhatiseem
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    iamwhatiseem Gold Member

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    I was off a day...the party is today.
    Much ado about nothin'.
    The market gurus are making a big deal about an agreement that really changes nothing.
    They simply agreed that they would have to come up with something and provided an overseeing authority to ensure something happens.

    In a word...the market is counting their chickens before they hatch.
    What history does the European nations have of working together??
    Britain was the sole voice in the wilderness who refused to take part in what has about a 1% chance of succeeding.
     
  3. bitterlyclingin
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    bitterlyclingin Silver Member

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    What with the tax cheat Geithner making his almost weekly journeys to implore the Euroweenies to do 'sumpin', what more can you expect? If the EU goes down the tubes as a result of Greece, Spain, and Italy it will adversely affect the US of A and Obama's relection chances. The latter reason being paramount in DC. The Obama Economic Wrecking Ball must be allowed to continue past January 20, 2013.
    Lisa Jackson has made such big plans for regulating rainwater as a pollutant.
     
  4. bitterlyclingin
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    bitterlyclingin Silver Member

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    (This gent has very little faith in what the Euroweenies accomplished, but then, isn't smoke and mirrors just what the world is about today? George Soros will wait till after November, next to rush in and scoop up the detritus, just like he did after MF Global "I honestly don't have a clue where the 1.2 billion dollars went")

    "Here’s how the FT put it on Wednesday:

    It borders on hysterical to say there are but hours to save the euro, but there is a risk that if the crisis is not now tamed the price of a rescue might start to spiral out of politicians’ grasp. The stakes are therefore very high at Friday’s summit. The world cannot afford another half-baked solution.

    And yet, inevitably, another half-baked solution is exactly what we got. Which means, I fear, that it is now, officially, too late to save the Eurozone: the collapse of the entire edifice is now not a matter of if but rather of when.

    For one thing, fracture is being built into today’s deal: rather than find something acceptable to all 27 members of the European Union, the deal being done is getting negotiated only between the 17 members of the Euro zone. Where does that leave EU members like Britain which don’t use the euro? Out in the cold, with no leverage. If the UK doesn’t want to help save the euro — and, by all accounts, it doesn’t — then that in and of itself makes the task much more difficult.

    But that’s just the beginning of the failures we’re seeing from European leaders right now. It seems that German chancellor Angela Merkel is insisting on a fully-fledged treaty change — something there simply isn’t time for, and which the electorates of nearly all European countries would dismiss out of hand. Europe, whatever its other faults, is still a democracy, and it’s clear that any deal is going to be hugely unpopular among most of Europe’s population. There’s simply no chance that a new treaty will get the unanimous ratification it needs, and in the mean time the EU’s crisis-management tools are just not up to dealing with the magnitude of the current crisis.

    The fundamental problem is that there isn’t enough money to go around. The current bailout fund, the European Financial Stability Facility, is barely big enough to cope with Greece; it doesn’t have a chance of being able to bail out a big economy like Italy or Spain. So it needs to beef up: it needs to be able to borrow money from the one entity which is actually capable of printing money, the European Central Bank.

    But the ECB’s president, Mario Draghi, has made it clear that’s not going to happen. Draghi is nominally Italian but in reality one of the stateless European technocratic elite: a former vice chairman and managing director of Goldman Sachs, he’s perfectly comfortable delivering Italy the bad news that he’s not going to lend her the money she needs. He’s very reluctant to lend it directly, he won’t lend it to the EFSF, and he won’t lend it to the IMF. Draghi has his instructions, and he’s sticking to them — even if doing so means the end of the euro zone as we know it."

    Europe’s disastrous summit | Felix Salmon
     
  5. whitehall
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    whitehall Gold Member

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    The stock market doesn't "party". Stocks always go up in a capitalist society unless government policies interfere with the free market. The question is whether the international banking system can survive European socialism and whether we can vote Obama out of office in time to save the US from becoming another 3rd world country.
     
  6. Haplo
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    Haplo Rookie

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    While I don't disagree with most of that, I think a lot of what's going on in the stock market is misguided government intervention to gin up prices, rather than push them down.
     
  7. Douger
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    Douger BANNED

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    LOL...........buncha XXX_reez that produce nothing, in whine mode.
     
  8. Trajan
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    Trajan conscientia mille testes

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    yup. we have seen several of these hey we got a plan rallies.....and we will see plenty more, the market is such a strange place right now, I would not touch it.
     
  9. whitehall
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    whitehall Gold Member

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    Former NJ democrat governor Jon Corzine pissing away a billion stockholder dollars isn't really surprising. He is a crook. The dirty little secret is that the government regulators who are paid to prevent thefts like that weren't doing their jobs and the Obama administration socialists want to give them more power to phuck up the stock market even further with useless regulations.
     
  10. iamwhatiseem
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    iamwhatiseem Gold Member

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    I have entertained the thought of making a poll thread asking the question should day-trading be abolished.
    I think it should personally. day trading as well as speculative markets have destroyed the dependability of the markets and turned it into a bubble building machine that is guaranteed to cause a recession every 7-8 years.
     

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