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Dow Jones drop 400 points, Sinkie open Thursday down how much? Sell, sell , sell!

Romagnum

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http://www.bbc.com/news/business-29630624

Global shares have fallen sharply as concerns about weak global economic growth knock investor confidence.

In the US, the Dow Jones fell by more than 400 points, or 2.5%, to 15,911, before recovering slightly. European markets were also sharply lower.

The Dow is down more than 1,000 points, or 6%, in the past month.

Oil prices also continued to slide, with Brent crude falling below $85 a barrel and US light crude dipping below $81.

Brent crude has fallen by 20% since the summer on concerns of oversupply, as output increases and forecasts for future demand fall because of concerns about sluggish global growth.

On stock markets, the main Cac 40 index in France closed down 3.6%, while Germany's Dax index and the UK's FTSE 100 both ended the day down about 2.8%.
 

Romagnum

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https://sg.finance.yahoo.com/news/property-major-risk-singapores-economy-044101271.html

Slumping property prices are among the biggest risks for Singapore's economy, analysts say, as a dip in construction activity drags the economy.

Singapore's economy expanded an annualized 1.2 percent in the third quarter, below expectations for a 1.8 percent rise in a Reuters poll, data on Tuesday showed.

Many analysts attribute the decline to slowing construction activity - the sector expanded 1.4 percent, sharply slower than 4.1 percent in the second quarter - but property prices may be of greater concern.

Read More Is Singapore driving away property investors?

"The bigger risk for the Singaporean economy is the property asset market cooling down, rather than physical construction activity cooling down," said Seng Wun Song, regional economist at CIMB bank.

"If the pace of the global economic recovery continues to plod along rather than pick up steam, the deceleration in Singapore asset prices could be sharper than the current 10-15 percent range, which would have repercussions on equities and for the wealth effect," he added.

Prices in Singapore's prime residential market - the priciest 5 percent of the broader market - fell 7.3 percent in the first half of 2014, according to estate agent Knight Frank.

The government has enacted eight rounds of cooling measures since 2009 after prices rose more than 60 percent between 2009 and 2013, fueled by record-low interest rates, and these appear to be taking affect.
 

Romagnum

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http://www.cnbc.com/id/102035634

The world's three economic superpowers - the U.S., China and Europe - are heading for a major collapse in asset values because their economic models favor consumption instead of productivity, one economist has warned.

"We're still not wise enough to realize that our current model is a 'Ponzi' scheme rushing toward its inevitable 'Minsky moment'," Steen Jakobsen, a chief economist at Danish investment bank Saxo Bank, said in a research note on Friday. The term "Minsky moment" refers to a phrase coined for the Asian debt crisis of the late 1990s by Pimco's Paul McCulley.

Unsustainable debt will be the cause of the crash, according to Jakobsen, and will occur when the cash returns on assets become insufficient to service the debt taken on to acquire those assets in the first place. He gives no timeframe for his thesis but says that the problem of huge debts has been swept under the carpet by central bankers and policymakers and will come back as low inflation or even deflation.
 

Romagnum

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http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy/2012/11/06/id/462985/

The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable.

“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.

“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”

While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.
 

Romagnum

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No more Korean pussy for now, must keep reserves healthy to weather this storm.

Make sure you have at least six months equivalent of your monthly income for emergency.

For me it's about 18 months but I must be careful.

Things can get rough
 

frenchbriefs

Alfrescian (Inf)
Asset
well so far the s&p is down 8% from the peak.....lets hope this retracement goes a bit deeper so i can buy some cheap shares.
 
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