World stock markets plummet in tandem

[Humodour]

In an ominous sign, the stock market collapse is the longest losing streak since January 1982 -- the year Australia entered a recession.

 

This month's losses have wiped out all the gains investors made in 2007.

 

Yesterday was the All Ordinaries' worst day since the fall began, with the stock market shedding 2.9 per cent.

 

Since January 7, the global stock market turmoil, driven by fears the United States is slipping into recession, has wiped almost $180 billion off the value of the Australian stock market.

http://www.news.com.au/heraldsun/story/0,2...907-664,00.html

 

LONDON (Reuters) - World stocks nosedived and demand for safe-haven bonds and currencies soared on Monday as fears gripped investors that a deteriorating U.S. economy would drag others down with it.

 

The losses on the blue-chip stock indexes of Germany, Britain and France alone amounted to more than $350 billion, or roughly the size of the combined economies of New Zealand, Hungary and Singapore.

http://www.reuters.com/article/topNews/idUSSP15608620080121

 

The same is happening in Asia and the Middle East. I guess it's true that if America catches a cold, the rest of the world does too.

 

Do you think America will go into recession? Which countries might it take with it? Could it become a global recession?

[Xard]

It would be so hilarious if world's only superpower would collapse due to their inability to handle loans in its apartment/property/whatever business

Edited January 22, 2008 by Xard

[Sand]

What I find tremendously stupid is that the leadership in the US thinks it is a good idea to hand money and resources hand over fist to other countries while at the same time take out a loans from China. Gee, if the US government needs money STOP giving it away to other countries for godsakes! Stupid republicans.

[Tale]

WHOO! If we go down, we're taking you all with us! WHOO!

 

I should run for President on that platform.

Edited January 22, 2008 by Tale

[Xard]

It hadn't had any effect in nordic countries, so doesn't matter!

[Gorgon]

What I find tremendously stupid is that the leadership in the US thinks it is a good idea to hand money and resources hand over fist to other countries while at the same time take out a loans from China. Gee, if the US government needs money STOP giving it away to other countries for godsakes! Stupid republicans.

I wouldn't worry about that, it's a glass of piss in a tsunami, (source)

 

USA

Edited January 22, 2008 by Gorgon

[Sand]

I am also putting that costly little fiasco known as Iraq in that mix, Gorgie.

[Gorgon]

I suppose you could call invasions aid, depends on who you ask.

[Enoch]

It would be so hilarious if world's only superpower would collapse due to their inability to handle loans in its apartment/property/whatever business

 

I don't think that anyone not currently under a tinfoil hat is predicting a "collapse." It'll be tight for a few quarters, and the U.S. unemployment rate might even creep up to the level present in some of the healthier European economies. But nothing's going to collapse.

 

What I find tremendously stupid is that the leadership in the US thinks it is a good idea to hand money and resources hand over fist to other countries while at the same time take out a loans from China. Gee, if the US government needs money STOP giving it away to other countries for godsakes! Stupid republicans.

I wouldn't worry about that, it's a glass of piss in a tsunami, (source)

 

USA

Edited January 22, 2008 by Enoch

[thepixiesrock]

It's about time everyone else caught up to Michigan.

[Sand]

If the American auto industry actually made cars that people want and can afford maybe Michigan wouldn't be in such a mess it is in now.

[Xard]

Another thing: Stop making such ****ing monstrosities like SUV's

 

European & japanese cars are ten times more efficient and ecological than american cars. SUV's are nightmare of enviromentalist.

[Sand]

Whoever thought of the SUV should be shot. They are as pointless as a civilian Hummer.

[julianw]

It'a cultural thing like Japanese with whaling...

[Xard]

It'a cultural thing like Japanese with whaling...

 

Yes, what a great defence that can be applied to nearly anything questionable starting from circumcising women.

[Sand]

I don't give a crap about "its a culture thing." That is not a justification or an excuse for stupidity.

[julianw]

You are ABLE to circumcise women??? Not exactly sure what that is, but I think a similar example would be how the Chinese used to bond women's feet - a cruel practice. Until the masses is educated and turned away from the wrong ways, there is little individuals can do against a society that firmly believes in such practices.

[Xard]

Basically mutilating clitoris by cutting and slicing it with knife, can't remember if they actually remove whole thing. Propably. And other stuff too if I remember correctly.

 

Our lovely arab brothers are still quite active in this favourite afternoon activity

Edited January 22, 2008 by Xard

[julianw]

Is that suppose to give the performer satisfaction?? Or 'improve' the beauty of the female body?? Either way it sounds pretty sick and I wish I never asked for a description.

[taks]

European & japanese cars are ten times more efficient and ecological than american cars. SUV's are nightmare of enviromentalist.

EU and japanese populations are also much more co-located than in the US. as a result, it is much easier to implement mass transit (that actually works). living in a city is not always possible in the US. most japanese, OTOH, live in or very near very large metropolitan areas. it is very easy to justify small cars in such places since they don't need them for much as we in the US do.

 

weather in the US varies wildly as well, ranging from desert, to beach to mountain terrain also with significant snowfall in areas not otherwise in the mountains. these terrain differences are separated by hundreds if not thousands of miles to boot.

 

in COS, it is insane to NOT have an SUV. it has snowed nearly non-stop that past 2 months. going anywhere other than denver or pueblo from here requires mountain travel, and depending upon your hobby of choice, significant off-road travel as well. i'd like to see any of you so-called environmentalists get up timber hill in a 40 mpg car.

 

you're naively comparing apples to oranges.

 

taks

[theslug]

Basically mutilating clitoris by cutting and slicing it with knife, can't remember if they actually remove whole thing. Propably. And other stuff too if I remember correctly.

 

Our lovely arab brothers are still quite active in this favourite afternoon activity

Thanks a whole bunch. Even though I already know what it is I was eating a freakin roast beef sandwich....

 

Anywho, I'm sure things will calm down, someone somewhere will cut rates or some stuff and everything will be back to normal and I'll continue on a path of ignorance even though I'm a business major and don't know how it's all set up and I'll just be eating my roast beef sammich in the corner.

[Hurlshort]

European & japanese cars are ten times more efficient and ecological than american cars. SUV's are nightmare of enviromentalist.

EU and japanese populations are also much more co-located than in the US. as a result, it is much easier to implement mass transit (that actually works). living in a city is not always possible in the US. most japanese, OTOH, live in or very near very large metropolitan areas. it is very easy to justify small cars in such places since they don't need them for much as we in the US do.

 

weather in the US varies wildly as well, ranging from desert, to beach to mountain terrain also with significant snowfall in areas not otherwise in the mountains. these terrain differences are separated by hundreds if not thousands of miles to boot.

 

in COS, it is insane to NOT have an SUV. it has snowed nearly non-stop that past 2 months. going anywhere other than denver or pueblo from here requires mountain travel, and depending upon your hobby of choice, significant off-road travel as well. i'd like to see any of you so-called environmentalists get up timber hill in a 40 mpg car.

 

you're naively comparing apples to oranges.

 

taks

 

Extremely true.

 

The SUV's are not really the issue, you can clearly make fuel efficient SUV's. The issue is that the oil companies do everything they can to resist progress. That's their business. They make huge money selling gas, and so they spend a chunk of it buying up technologies that threaten their business.

 

A 1988 CR-X could get 50 miles to the gallon.

 

But the fact is the oil companies have no real reason to support progress. They aren't going to put themselves out of business.

[Gfted1]

A 1988 CR-X could get 50 miles to the gallon.

 

 

In this particular example, the reduction in miles per gallon from the 1988 version (50mpg) to the 2008 version (32mpg) is due to the addition of approximately 700 lbs of safety equipment. (IE: airbags, antilock brakes, etc...)

[Hurlshort]

safety schmafty

[Meshugger]

It hadn't had any effect in nordic countries, so doesn't matter!

 

Check the latest news. The HEX index and the Scandinavian index has gone down rapidly the last two days. I don't think that we're heading for another deep recession like the one in the beginning of the 90's yet, but seeing the american fed constantly lowering the interest rate just seems like a short-term solution. And the ECB, Bank of England and Bank of China are just continuing to buy more dollars to keep the currency somewhat stable, isn't a good long-term solution either.

 

What i only see so far, is that more bandages have been added to the wound, but no measures to heal it.