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-   -   Asian stocks take beating due to US credit downgrade (https://gfy.com/showthread.php?t=1033273)

$5 submissions 08-07-2011 08:17 PM
Asian stocks take beating due to US credit downgrade
 
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 08-07-2011 08:44 PM
Gold just broke $1700. Goldman Sachs subsequently just increased their 12 month gold price target to $1830.

Houdini 08-07-2011 08:48 PM
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 08-07-2011 08:56 PM
1%-2% falls, not that bad

glowlite 08-07-2011 09:01 PM
What a cryin' shame.

Love Sex 08-07-2011 09:05 PM
as the saying goes "Sell in May and Go Away"

This is most likely just a correction in values

Axeman 08-07-2011 09:15 PM
Quote:
Originally Posted by Goldmaniacs (Post 18338492)
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 08-07-2011 09:19 PM
The bleeding must stop :(

DWB 08-07-2011 09:29 PM
Quote:
Originally Posted by Houdini (Post 18338485)
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. :Oh crap

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

dyna mo 08-07-2011 09:31 PM
i wonder what will happen when s&p releases their other downgrades u.s. time monday.

dyna mo 08-07-2011 09:35 PM
Quote:
Originally Posted by DWB (Post 18338542)
I read something about two weeks ago about how QE3 is being discussed. :Oh crap

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 08-07-2011 09:49 PM
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 08-07-2011 10:10 PM
Quote:
Originally Posted by dyna mo (Post 18338550)
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 08-07-2011 10:16 PM
Gfy sovereign bond index
 
WTF ? LOOKS LIKE S&P MAKES SHIT UP ...

Code:
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

:321GFY

SomeCreep 08-07-2011 10:23 PM
Quote:
Originally Posted by $5 submissions (Post 18338456)
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 08-07-2011 11:27 PM
I bet there is a blood bath on Wall street in the morning. Gold up $62 right now.

$5 submissions 08-08-2011 12:13 AM
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 08-08-2011 12:16 AM
Oh come on guys, blame the Asain Tea Party, we all know they are to blame.


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