Wednesday, January 23, 2008

Another very interesting day on Wall Street

I only have a minute to post up before I'm off to work, but it looks like we'll have another interesting day on Wall Street. Futures are down across the board:

http://www.bloomberg.com/markets/stocks/futures.html

NASDAQ Futures down >3%
S&P Futures Down 2.5%
DOW futures Down 205 points ~ 2%.

I imaging the PPT is getting their arsenal ready.

Regards
Randy

3 Comments:

At 1/23/2008 9:25 AM, Anonymous Anonymous said...

Yep! 50 basis point cut coming next week. The FED can't prevent this! It's too big now! They have lost control and Wall Street has them by the you know what.

 
At 1/23/2008 7:26 PM, Blogger contrarian2day said...

Anon 9:25--thanks for posting up.

Well their arsenal was ready today--a 600-point 1-day swing. Amazing!

I’d have to agree with you: 50BP next week followed by another 50bp+ in March (if not an emergency cut in between). Many analysts are now predicting a 2.5 FFR before the end of year. I’m thinking maybe lower (2%).

With that said, I think we’ll see 1% or lower in 2009—that’s when the hyperinflation fireworks will really begin—an effort to cure the massive deflation pressures already baked into the system.

If we eventually hit Zero Interest Rate Policy (ZIRP): look out Weimar, here we come

 
At 1/30/2008 11:30 PM, Anonymous Anonymous said...

Hi there. I'm rather young and don't know much about economics and finances, but ive been looking around and reading on a potential collapse in 2008 for about 6 months now.

What shocks me the most is that 1st the main stream media is not covering this what so ever and 2nd that through all the material i've been... there isn't a single solution mentioned!! Aren't there any solutions?
Do we really have to degrade our standard of living to this point?
Can't we just file bankruptcy and start a new, with a system that is known to have worked coming out of hard periods?... bretton woods...

looking forward to your reply as well as future posts

 

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