yeah the mortgage and home building industry is just in complete shambles right now
much more pain to come in that arena...now it looks like these areas are starting to leak into q3 results as well....especially in the financial sector alot of big banks with crappy results....
Wachovia 3Q Profit Falls 10 Pct
Friday October 19, 11:12 am ET
By Ieva M. Augstums, AP Business Writer
Credit Market Turmoil Leads to 10 Pct Decline in Wachovia 3Q Profit
CHARLOTTE, N.C. (AP) -- Wachovia Corp., the nation's fourth largest bank, said Friday its profit fell 10 percent in the third quarter, hurt by $1.3 billion in losses and write-downs related to turmoil in the credit markets.
much more pain to come in that arena...now it looks like these areas are starting to leak into q3 results as well....especially in the financial sector alot of big banks with crappy results....
Wachovia 3Q Profit Falls 10 Pct
Friday October 19, 11:12 am ET
By Ieva M. Augstums, AP Business Writer
Credit Market Turmoil Leads to 10 Pct Decline in Wachovia 3Q Profit
CHARLOTTE, N.C. (AP) -- Wachovia Corp., the nation's fourth largest bank, said Friday its profit fell 10 percent in the third quarter, hurt by $1.3 billion in losses and write-downs related to turmoil in the credit markets.
Julian Robertson, among the worlds wisest financial minds, is predicting a long and "doozie" (his word not mine) recession.
He also manages more than 10 billion of other peoples money.
I think Ill give more credence to his words than something from the Washington political puppets or other Wall Street guys that only talk their own book.
He also manages more than 10 billion of other peoples money.
I think Ill give more credence to his words than something from the Washington political puppets or other Wall Street guys that only talk their own book.
Excellent call Tiz. I was far too optimistic because of the worthless dollar near term. i hope I didn't miss the best put opp. of the last 7 years....Proves YEN carry may be more important that the Euro. And damn the credit market still sucks. Of course everything is hunky dorey on CNBS....Again good call my man.
yen carry is everything VT in the currency markets....everybody is on the same side and it will be a stampede to the other once it really gets going.
euro pointless to watch
what's interesting is the dollar is actually down today
along with oil, gold and the markets
expected a dollar spike if this started
euro pointless to watch
what's interesting is the dollar is actually down today
along with oil, gold and the markets
expected a dollar spike if this started
haha yahoo is posting a breaking news special headline never seen this before.....going to be crazy once the mentality flips on a switch if this is the point....
http://quote.yahoo.com/
Breaking News
Stocks Plunge More Than 350 on Recession Fears-
Stocks pulled back sharply Friday as lackluster profit reports, record high oil prices and a warning from Caterpillar that the housing downturn was spreading to other parts of the economy raised fears about the economy’s long-term strength. The Dow and S&P 500 were both off roughly 2 percent.... » read more
http://quote.yahoo.com/
Breaking News
Stocks Plunge More Than 350 on Recession Fears-
Stocks pulled back sharply Friday as lackluster profit reports, record high oil prices and a warning from Caterpillar that the housing downturn was spreading to other parts of the economy raised fears about the economy’s long-term strength. The Dow and S&P 500 were both off roughly 2 percent.... » read more
VT, yep.
Like Ive posted many times, before this runs its course, its not going to make alot of difference what the fed does.
The economy and financial markets are going to have to go through some pains and losses. Some of the losses are being realized nominally behind the mask of inflation, but they are nevertheless still losses.
They cut rates and what really happened? Many bank and housing stocks are lower now than before rate cut, dow jones is same, s/p is same, nasdaq and some tech is higher since, oil is much higher, gold is much higher, and dollar is lower.
Ill call this a net loser for the fed and parrots in washington saying the economy is still doing well.
They can rearannge chairs on the titanic for a while, but in the end the boat is still going to sink.
Have a great weekend my fellow moonbats and kooks.
ope:
Like Ive posted many times, before this runs its course, its not going to make alot of difference what the fed does.
The economy and financial markets are going to have to go through some pains and losses. Some of the losses are being realized nominally behind the mask of inflation, but they are nevertheless still losses.
They cut rates and what really happened? Many bank and housing stocks are lower now than before rate cut, dow jones is same, s/p is same, nasdaq and some tech is higher since, oil is much higher, gold is much higher, and dollar is lower.
Ill call this a net loser for the fed and parrots in washington saying the economy is still doing well.
They can rearannge chairs on the titanic for a while, but in the end the boat is still going to sink.
Have a great weekend my fellow moonbats and kooks.
ope:
