Fears of a disorderly regulatory crackdown on banks and financial markets triggered a crisis of confidence among investors on Thursday that sent share prices reeling in a global flight to safety.
US, European and Asian shares all tumbled in the wake of Germany’s partial ban on naked short selling and ahead of a crucial vote on the US financial regulation bill. The S&P 500 fell 3.9 per cent, bringing its losses since late April to 12 per cent and pushing it into “correction” territory.
Asian stocks, which this week slumped to their lowest levels in nearly nine months, continued to suffer on Friday. In Tokyo, the Nikkei 225 index dropped 2.51 per cent to 9,778.65 in early trading, while Sydney’s S&P/ASX 200 index declined 2.13 per cent to 4,224.70. The Shanghai Composite, the worst-performing market in the region this year, fell 2.23 per cent to 2,498.99. The Hong Kong market was closed for a public holiday.
“The lack of clarity from the politicians has shattered confidence,” said David Owen, chief European financial economist at Jefferies.
REPEAT: “The lack of clarity from the politicians has shattered confidence,”
REPEAT: “The lack of clarity from the politicians has shattered confidence,”REPEAT: “The lack of clarity from the politicians has shattered confidence,”
OBAMACARE. THE NEW GERMAN TRADING RULES. A LOOMIKNG CARBON TAX/SWAP SCHEME. A BIG FINANCIAL RE-REGULATIUON PASSED BY THE SENATE.
THESE CHANGES WOULD BE TOO MUCH, TOO QUICKLY PASSED - AND TOO POORLY THOUGHT-OUT - OVERLY HUGE RULE CHANGES FOR INVESTORS TO DIGEST IF PASSED DURING NORMAL MARKET CONDITIONS; PASSING THEM NOW IS A COLOSSAL ERROR.
IT MAY TUMBLE US INTO A DOUBLE DIP OR WORSE - A REAL DEPRESSION.
I BLAME OBAMA:
HE'S BEEN AN INCOMPETENT STEALTH LEFTIST IMPLEMENTING BY HOOK AND CROOK THE WRONG POLICIES, POORLY, AND AT THE WRONG TIME.
LET'S FACE IT FOLKS: OBAMA HAS BEEN A FUHREEEEEEEKIN' DEEEZASTER!
IT CAN BE MINIMIZED IF WE IMMEDIATELY PASS AUSTERITY MEASURES: CUTS IN CAPITAL GAINS AND INVESTING TAXES, AND CUTS IN SPENDING.
WE SHOULD ALSO IMMEDIATELY RAISE THE RETIREMENT AGE AND CUT ALL GOVERNMENT SALARIES AND PENSIONS.
If we don't cut back on the size of the government and especially on government as such a huge employer, we are doomed. Private industry is losing the ability to compete with the government as employer. And BHO is seeing to it that private industry is losing the ability to compete with the government as employer. That's part of his master plan, IMO.
ReplyDeleteYES.
ReplyDeleteJUSR AS IT'Z COLLAPSING IN THE EU.
THEIR COLLAPSE SHOULD BE INFORMING US NOT TO GO DOWN THAT ROAD ANY FURTHER.
TOO BAD THE MSM WON'T TELL THE PEOPLE THE TRUTH ABOUT THE EU AND EURO COLLAPSE.