Asian stocks take beating due to US credit downgrade

[$5 submissions]

http://news.yahoo.com/asian-stock-ma...015340291.html

It looks like it's going to be a rough ride getting out of this slide.
Europe's having issues with SPain and Italy
We already know about the US' issues
Asia's got skyrocketing inflation in India and a massive housing bubble in China

I suspect it will take something that looks "relatively minor" to finally burst the dam on this one...

[Houdini]

Gold just broke $1700. Goldman Sachs subsequently just increased their 12 month gold price target to $1830.

[Houdini]

What's interesting is that we're now at same levels from last year where Bernanke felt we needed QE2. Does that mean QE3 is next?

[Goldmaniacs]

1%-2% falls, not that bad

[glowlite]

What a cryin' shame.

[Love Sex]

as the saying goes "Sell in May and Go Away"

This is most likely just a correction in values

[Axeman]

1%-2% falls, not that bad

Nikkei is down 2.2 % right now, but the Hang Seng and Straits Times are down 4% each currently.

[Spunky]

The bleeding must stop

[DWB]

What's interesting is that we're now at same levels from last year where Bernanke felt we needed QE2. Does that mean QE3 is next?

I read something about two weeks ago about how QE3 is being discussed.

But damn... $1700 gold. That's nuts.

[dyna mo]

i wonder what will happen when s&p releases their other downgrades u.s. time monday.

[dyna mo]

I read something about two weeks ago about how QE3 is being discussed.

But damn... $1700 gold. That's nuts.

isn't that fucking nutty? my pop said to me today don't think of the price of gold going up, it's the value of the dollar going down. derp

and is there even any room for qe3?

[Barry-xlovecam]

The US has $6,329,100,000,000.00 in gold in its coffers at $1,700/oz.
In addition 727-million-barrels in the U.S. Strategic Petroleum Reserve.
Not a bad "war chest" :P
I guess we will survive today to fight on another day ...

[DWB]

isn't that fucking nutty? my pop said to me today don't think of the price of gold going up, it's the value of the dollar going down. derp

and is there even any room for qe3?

Your old man is probably right and that's why people are running to it as fast as they can right now, because they don't know where the USD is going to end up.

Take general investors out of the equation and watch what governments do. When you see countries like Russia and Korea (and many others) suddenly buying tonnes of gold, it makes you wonder if they know something we don't. Even Thailand where I live, just bought 30 more tonnes to add to their 100 tonne stockpile.

Who knows how it all will play out, but it's probably not a bad idea to not have all your eggs in the USD or Euro right now.

[Barry-xlovecam]

Gfy sovereign bond index

WTF ? LOOKS LIKE S&P MAKES SHIT UP ...

COUNTRY		BOND TERM	COST OF INS /1M		CHANGE	GFY RATING
SWEDEN		5-YR	49.50	0.75	1.54%	AAA
UNITED	STATES	5-YR	54.60	-0.57	-1.03%	AAA
FINLAND		5-YR	58.00	---	UNCH	AAA
NETHERLANDS	5-YR	60.80	-1.14	-1.84%	AAA
GERMANY		5-YR	69.70	3.78	5.73%	AAA
UNITED	KINGDOM	5-YR	77.30	1.8	2.38%	AAA
DENMARK		5-YR	88.00	-2.3	-2.55%	AAA
AUSTRIA		5-YR	97.30	2.48	2.62%	AAA
FRANCE		5-YR	140.40	3.32	2.42%	BBB
BELGIUM		5-YR	225.70	2.93	1.32%	BBB
HUNGARY		5-YR	347.00	12.17	3.63%	BBB
ITALY		5-YR	373.60	18.68	5.26%	BBB
SPAIN		5-YR	407.60	-0.54	-0.13%	BBB
PORTUGAL	5-YR	958.40	-10.53	-1.09%	CCC
GREECE		5-YR	1688.60	-26.39	-1.54%	CCC
IRELAND		5-YR	Unavailable

Source: Sovereign Credit-Default Swaps

[SomeCreep]

http://news.yahoo.com/asian-stock-ma...015340291.html

It looks like it's going to be a rough ride getting out of this slide.
Europe's having issues with SPain and Italy
We already know about the US' issues
Asia's got skyrocketing inflation in India and a massive housing bubble in China

I suspect it will take something that looks "relatively minor" to finally burst the dam on this one...

Asians r crazy, we all know that.

[kane]

I bet there is a blood bath on Wall street in the morning. Gold up $62 right now.

[$5 submissions]

The ironic thing is China can talk all the junk it wants about the US but it's joined at the hip. It can't decouple cuz of the huge Chinese inflation.

[Gouge]

Oh come on guys, blame the Asain Tea Party, we all know they are to blame.