Markets tumble on credit fears (more like REALITY!!)

elite_hunter_sh3 · 11-01-07, 06:39 PM

http://news.bbc.co.uk/2/hi/business/7073882.stm

World markets have plunged amid renewed fears about the credit crisis, sending shares in finance firms sharply lower. On Wall Street the Dow Jones Industrial Average shed more than 360 points or 2.6%, after two leading banks were downgraded earlier in the day.
The UK's FTSE 100 saw its largest one-day drop since the height of the credit crunch in August, down 135.5 points or 2.02%.
Benchmark European stocks had also ended lower in both France and Germany.
The Paris-based Cac 40 dropped 2% and Frankfurt's Dax ended 1.7% lower.

MARKET DATA - 23:40 UK

FTSE 100 6586.1

Dax 7880.9

-138.37 Cac 40 5730.9

-117.03 Dow Jones 13567.9

-362.14 Nasdaq 2794.8

-64.29 S&P 500 1508.4

-40.94 BBC Global 30 6088.6

all in the negatives...

JSLTIGER · 11-01-07, 07:00 PM

Oil prices hitting $96+/bbl probably didn't help matters either. I don't know about you fellas, but I filled up the ol' Corolla this afternoon before the price spikes even higher.

AVGWarhawk · 11-01-07, 07:01 PM

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.

SUBMAN1 · 11-01-07, 07:05 PM

Quote:

Originally Posted by AVGWarhawk

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.

Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S

AVGWarhawk · 11-01-07, 07:10 PM

Quote:

Originally Posted by SUBMAN1

Quote:

Originally Posted by AVGWarhawk

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.

Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S

No way my man. I learned my lesson years ago. If I can not afford it with cash.... I do not need it.

SUBMAN1 · 11-01-07, 07:40 PM

Quote:

Originally Posted by AVGWarhawk

Quote:

Originally Posted by SUBMAN1

Quote:

Originally Posted by AVGWarhawk

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.

Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S

No way my man. I learned my lesson years ago. If I can not afford it with cash.... I do not need it.

Exactly - that is why I said - Be weird!

-S

P_Funk · 11-01-07, 07:40 PM

The sad thing is that many people cannot afford a decent living without the debt system. Getting ahead in our society involves mostly getting so grossly in debt that you're tied to it for decades. Student loans are especially bad I think. Just having to go that in debt to qualify yourself as competent in the work force... glad my parents give me a hand with that stuff.

Torplexed · 11-01-07, 07:46 PM

I've seen some of these commercials recently where purchases are going smoothly with debit cards and such, until some fuddy-duddy wet blanket shows up and trys to pay with cash to a chorus of dirty looks. Gee...what message do you supppose are they trying to send? :hmm:

I try to keep the plastic's apperances as rare as possible these days.

August · 11-01-07, 07:50 PM

Quote:

Originally Posted by SUBMAN1

Woo hoo! Another one in the debt free club.

Count me in that category. I have a credit card but i pay it off every month and no bank holds any paper on me.

11-02-07, 08:27 AM

My only debt is a mortgage @5.375%. I own everything else.

Skybird · 11-02-07, 09:29 AM

Be advised guys that all you credit-free people are terror-suspects. Because having no financial debts is one police criterion that makes you suspicious. It is normal to have debts, and to have no debts is not normal. If you are not normal, you are either inane, or vulnerable to becoming an extremist, or both.

I have no car. I wonder what this makes me suspicious of. :hmm: Wanting to murder the president, maybe? Oh look, I just found a CORRELATION! :rotfl:

---

Never no financial debts over here exceeding 50% of my monthly income.

11-02-07, 11:04 AM

Quote:

Originally Posted by August

Quote:

Originally Posted by SUBMAN1

Woo hoo! Another one in the debt free club.

Count me in that category. I have a credit card but i pay it off every month and no bank holds any paper on me.

Same here - I always make sure I can pay off the card each month. Exceptions happen around Christmas time for all the obvious reasons, but other than that, I always manage to keep a clean slate as much as possible.

I also that that commercial where everyone gives the guy paying with cash a dirty look (HEY! You're holding things up!!!). I've never gotten an "odd" look when paying with cash, and would rip the lungs out of anyone that gave me one, too.

11-01-07, 06:39 PM	#1
elite_hunter_sh3 The Old Man Join Date: Nov 2005 Posts: 1,376 Downloads: 6 Uploads: 0	Markets tumble on credit fears (more like REALITY!!) http://news.bbc.co.uk/2/hi/business/7073882.stm World markets have plunged amid renewed fears about the credit crisis, sending shares in finance firms sharply lower. On Wall Street the Dow Jones Industrial Average shed more than 360 points or 2.6%, after two leading banks were downgraded earlier in the day. The UK's FTSE 100 saw its largest one-day drop since the height of the credit crunch in August, down 135.5 points or 2.02%. Benchmark European stocks had also ended lower in both France and Germany. The Paris-based Cac 40 dropped 2% and Frankfurt's Dax ended 1.7% lower. MARKET DATA - 23:40 UK FTSE 100 6586.1 Dax 7880.9 -138.37 Cac 40 5730.9 -117.03 Dow Jones 13567.9 -362.14 Nasdaq 2794.8 -64.29 S&P 500 1508.4 -40.94 BBC Global 30 6088.6 all in the negatives...

11-01-07, 07:00 PM	#2
JSLTIGER The Old Man Join Date: Jan 2004 Location: Parkland, FL, USA Posts: 1,437 Downloads: 5 Uploads: 0	Oil prices hitting $96+/bbl probably didn't help matters either. I don't know about you fellas, but I filled up the ol' Corolla this afternoon before the price spikes even higher. __________________ Thor: Intel Core i7 4770K\|ASUS Z87Pro\|32GB DDR3 RAM\|11GB EVGA GeForce RTX 2080Ti Black\|256GB Crucial M4 SSD+2TB WD HDD\|4X LG BD-RE\|32" Acer Predator Z321QU 165Hz G-Sync (2540x1440)\|Logitech Z-323 2.1 Sound\|Win 10 Pro Explorer (MSI GL63 8RE-629 Laptop): Intel Core i7 8750H\|16GB DDR4 RAM\|6GB GeForce GTX 1060\|128GB SSD+1TB HDD\|15.6" Widescreen (1920x1080)\|Logitech R-20 2.1 Sound\|Win 10 Home

11-01-07, 07:01 PM	#3
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,275 Downloads: 90 Uploads: 0	Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

11-01-07, 07:40 PM	#7
P_Funk Ocean Warrior Join Date: Jun 2005 Location: Canada, eh? Posts: 2,537 Downloads: 129 Uploads: 0	The sad thing is that many people cannot afford a decent living without the debt system. Getting ahead in our society involves mostly getting so grossly in debt that you're tied to it for decades. Student loans are especially bad I think. Just having to go that in debt to qualify yourself as competent in the work force... glad my parents give me a hand with that stuff. __________________

11-01-07, 07:46 PM	#8
Torplexed Let's Sink Sumptin' ! Join Date: Dec 2001 Location: Seattle, WA Posts: 5,823 Downloads: 43 Uploads: 0	I've seen some of these commercials recently where purchases are going smoothly with debit cards and such, until some fuddy-duddy wet blanket shows up and trys to pay with cash to a chorus of dirty looks. Gee...what message do you supppose are they trying to send? :hmm: I try to keep the plastic's apperances as rare as possible these days. __________________ --Mobilis in Mobili--

11-02-07, 08:27 AM	#10
waste gate Stowaway Posts: n/a Downloads: Uploads:	My only debt is a mortgage @5.375%. I own everything else.

11-02-07, 09:29 AM	#11
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,655 Downloads: 10 Uploads: 0	Be advised guys that all you credit-free people are terror-suspects. Because having no financial debts is one police criterion that makes you suspicious. It is normal to have debts, and to have no debts is not normal. If you are not normal, you are either inane, or vulnerable to becoming an extremist, or both. I have no car. I wonder what this makes me suspicious of. :hmm: Wanting to murder the president, maybe? Oh look, I just found a CORRELATION! :rotfl: --- Never no financial debts over here exceeding 50% of my monthly income. __________________ If you feel nuts, consult an expert.