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| Economy |
| World stocks slump on Bernanke speech |
| 2011-08-27 |
| [Straits Times] European and US stock markets slumped and the dollar strengthened after US Federal Reserve chairman Ben Bernanke gave no hints of new central bank stimulus measures in a key speech. On Wall Street the Dow Jones Industrial Average lost 1.50 per cent, the broader S&P 500 dropped 1.16 per cent and the Nasdaq fell 0.95 per cent. In Europe, Frankfurt's DAX 30 shed 2.90 per cent, London's FTSE 100 lost 1.96 per cent and the Gay Paree CAC 40 dropped 1.57 per cent in late trading. Earlier, Asian markets closed mostly down. |
| Posted by:Fred |
| #18 http://www.usdebtclock.org/# Reality therapy lots of luck with that. |
| Posted by: Dale 2011-08-27 19:44 |
| #17 ominous noises coming out of Euroland. Prospect of cascading bank failures. |
| Posted by: phil_b 2011-08-27 19:06 |
| #16 WOPR? Skynet? Yeah, that'd fix everything. |
| Posted by: RandomJD 2011-08-27 17:35 |
| #15 Didn't Bernie endorse the regulatory insanity that led to the current catastrophe? Milton Friedman wanted the Fed replaced by a computer; great idea. |
| Posted by: Jaimble Hupiling9451 2011-08-27 17:18 |
| #14 Rick Perry jabs Bernanke, says "printing more money ... is QE3=hyperinflation |
| Posted by: JohnQC 2011-08-27 15:49 |
| #13 Bernanke gave no hints of new central bank stimulus measures in a key speech Three cheers for Rick Perry. |
| Posted by: g(r)omgoru 2011-08-27 14:46 |
| #12 The main use banks have for deposited money is to make loans backed by that money. They (and I) don't believe there are that many reliable lenders around to loan money to. Having deposits that aren't being lent out is either worthless or harmful to a bank. |
| Posted by: Anguper Hupomosing9418 2011-08-27 14:45 |
| #11 Good lord, BP - that's just what Zero wants.... |
| Posted by: Barbara 2011-08-27 13:10 |
| #10 Shhh... Don't give him any ideas. |
| Posted by: whitecollar redneck 2011-08-27 12:48 |
| #9 Well, following this plan Chairman Zero would have to be President for life and he still wouldn't see any recovery. Just his donor base would be rich. http://danieljmitchell.wordpress.com/2011/08/26/an-amazing-indictment-of-obamanomics-banks-that-dont-want-deposits/ |
| Posted by: Bright Pebbles 2011-08-27 08:49 |
| #8 We can't have a Republican-style recovery, BP. It's got to be an Obamacovery - the government-controlled way. No matter how long it takes... |
| Posted by: Bobby 2011-08-27 08:35 |
| #7 Proof the main thing holding down yields on these stocks is central government inflation. This government is doing everything it can to avert any economic recovery. |
| Posted by: Bright Pebbles 2011-08-27 08:26 |
| #6 OOPs.. that's the Dow and S&P FUTURES> BUT Bloomberg also says in its market snapshot the DOW rallied 134.72 to close at 11,284.50 while the S&P rallied 17.53 to end up at 1176.8 |
| Posted by: anon1 2011-08-27 05:46 |
| #5 bloomberg says the DOW closed UP 148 to 11,279 while the S&P 500 finished at 1175, a rise of 0.5 of a point |
| Posted by: anon1 2011-08-27 05:41 |
| #4 Bernanke won't bring out the QE3 until stocks burn to the ground like housing, or so I believe from what i've read. Then he will bring out QE3. But look out we're not out of the woods, the rolling depression still hasn't fully exploded from Europe. Credit default spreads on Euro banks like BNP Paribas have soared... It's credit crunch mark II and as we've seen it cannot be geographically contained |
| Posted by: anon1 2011-08-27 05:38 |
| #3 Well, at least as of yet, no disastrous QE3. |
| Posted by: newc 2011-08-27 03:46 |
| #2 I'm opimistic on the US market. Amazing isn't it, the worse Obama's ratings get, the better the long term market picture becomes. I suspect there is a message in there somewhere. |
| Posted by: Besoeker 2011-08-27 01:09 |
| #1 Bloomberg headline is, U.S. Stocks Close Higher on Bernanke Remarks |
| Posted by: phil_b 2011-08-27 00:22 |