I am really worried about the stock market

Just one false alarm today, and the market nosedived and people began buying gold. What in the heck would happen if (when?) we actually do have another attack on this country? I fear what will happen to to our economy.

Don

Gold Jumps Over $400/oz on Subway Scare

http://www.boston.com/business/markets/articles/2003/11/26/gold_jumps_over_400oz_on_subway_scare/

NEW YORK (Reuters) - Knee-jerk buying lifted COMEX gold to its highest price since March 1996 Wednesday after strange fumes hospitalized several New York City subway workers, but fell back after police said the incident was not a terror attack.

The market was extra jumpy before Thursday's U.S. Thanksgiving holiday and a day off Friday for New York commodity traders.

"Between that and the dollar really coming off today -- that whole story continues to be positive for gold," said Amaury Conti, a gold equities trader at fund management firm U.S. Global Investors. "It may be a little exaggerated today because of thin trading conditions. A lot of guys are out."

At the COMEX division of the New York Mercantile Exchange, safe-haven buying lifted gold for February 2004 delivery to $402 an ounce, beating last week's $401.80 high, on news that five workers were treated for exposure to an unknown substance which caused an odor in one of the city's subway tunnels.

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foreign investment loss, etc, very carefully. Our two economies are, in many way, tied and all the indicators, to me, spell a very fragile situation for sure. The ballooning debt, too, should be very worrisome as foreign investment has been declining at an alarming rate.

The US economy affects lots of people outside our borders.

he'll give ya some good news!!!

A sixty point drop in two hours in no way can be called a "nosedive" and the market ended up 15 pts and bond rates jumped (well if 60 points is a "nosedive", then seven basis points is a "jump").

Are we trying to say that in a rock-solid economy a "terrorist scare" in New York would NOT have caused some selling? I suppose people would buy on a terrorist attack if shrub was doing his job properly?

What exactly IS your point?

thank ya!

they can't buy gold as the rich can , but we have something these people don't , we can plant a garden , we can hunt for our meat , and we are already at the bottom , so no one can knock us off that rung of the latter

mortgage debt.

admittedly I know very little about economics. But look at all the money being spent by Bush on Iraq, The Defense Budget, the Tax-cuts, the new Medicare Bill....will there HAVE to be an inflationary period to pay for all of this? Buying Gold is an indication that the dollar is worth even less....

for some time now, after a steady upward climb. Now we see blatant lap dancing there may be lots more drama to come in Gold.

I see it as a tell-tale sign us marketeers have been right in foreseeing an economic "perfect storm".

Julie

and we've been living with it's effects for the last three years:

1. high tech bubble collapse
2. 9/11
3. sharp drop in airline travel
4. sharp drop in tourism
5. increase in unemployment

This HAS BEEN the perfect storm scenario. I say that we have weathered it, it's been bad, many people have been hurt, but we have survived and things are looking decidedly rosier.

Welcome to DU!! :toast:

No, fake numbers and one trick ponies have been keeping this economy lookin' alive.

No jobs is part of the plan so no surprise there. See, with not enough jobs, well then folks are likely to take what they can get and forget about those crazy "livable wages" notions. While so many jobs are gone and productivity is up but spending is down, what do you suppose will serve as incentive for companies to start hiring at anywhere near the pace they need to for UE#s to go down?

Now, let's talk debt. Never before has the American consumer carried so much debt. Sure the Greenman had been dependable in giving the $$ away but too many have taken far more than they can repay. Mortagae 125% of your house anyone?? I know folks here who have done so an it's more widespread in this country than you would think. One would think that's not so bad until you find folks are doing it to make the bills and payments on those new cars etc. Of course that might explain the record level of foreclosures and bankruptcies.

No friend, it wasn't 9/11 (even though it's serve oh-so-many-fine purposes for Team Bush) that caused this economy to tank as it's been. It wasn't the tech bubble causing this long term bleeding.

Here's another piece of the puzzle. False sense of security. Did you know that out of the past 52 weeks the UE#s have been revised 51 times?? What does that tell you? (think shell-game) Oh and real UE isn't the 3million you hear about it's 9million. With massive corps fleeing our shores for the siren song of dirt-cheap labor overseas, I don't know how anyone can possibly foresee sunny skies ahead here. They fool with the #s though to make it seem like things are perpetually getting better.

Lastly, do not be fooled by those GDP #s. We are knocking down a country and building it back up and getting the oil on-line. Think of all that is needed to accomplish this. The building materials currently being hoarded by the entities building in Iraq are going to skyrocket in price (see copper wiring already) and what will that do to the new-build housing industry?

Don't forget the deficit, quietly toiling up the mountain while we are urged to be good Americans and go shopping. Foreign entities hold our debt and could bring us to our knees over-night with it. We have given the world a great big stick with which to beat us and then we put an arrogant asshole up at the podium to piss them off.

Brilliant. I see trouble.

Julie

Can you tell me how much the price has increased under Bush?

http://www.kitco.com/charts/livegold.html

It looks like it was about $260 when Jr. took the throne. Click on the 5 yr. chart. You'll see. Flight to quality since the Simian usurped the WH.

Julie

but not so much about the stock market. That is just a shiny piece of flooring that covers the real economy. When the surface flooring gives so easily, imagine what condition the baseboard must be in.

Nevermind what the realtor (in this case Bush misAdmin) told you. ;-)

Julie

Two or three little things can start the market on a major downward trend and look at who's in charge---the same guy who approved an increase into nuclear weapons research to produce a bomb 40% the yield of Hiroshma for normal combat.

the market was due for some profit taking especially with the end of the year coming up. Institutional types (munies) have to try and look good for people. Its a great time to buy as stocks are down and will resume a bull run again soon.

of course the market is a crap shoot and anything can happen.

"What in the heck would happen if (when?) we actually do have another attack on this country? I fear what will happen to to our economy."

Let's elect a candidate who scares terrorists more than Republicans do.

Not spend everything we have overseas.

Clark or Dean would do that.

now this, will be the thing that causes the problems. Your money isnt worth the paper its printed on. When this happens is when all hell will break loose.

but hey Don, don't worry we have the best in the world cooking the books and stealing our money. Soon we'll all be in the same boat. We have all the ear marks for another world depression.

true story, and they have nothing to back it up. Its just paper.

nt

I was watching the market and could tell by it's movement something BIG was happening. I called downstairs to my girlfriend who has the news on and asked her "Did something happen?" It wasn't even being broadcast yet. Several mintues later, she saw it on the news.

That kind of reactionary twitch to what turned out to be not much, tells me that the market is very unsure. I think we are in for a gradual decline through the end of the year. Then, in January, big selling.