Dow Tanks Over 500 Amid Euro Zone Fears

[Roland99]

Source: CNBC

Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.

The Dow Jones Industrial Average finished down over 500 points, wiping out the previous session's 429-point rally. The blue-chip index has had triple-digit moves in four of the last five trading days.

...

The S&P 500 and Nasdaq also finished sharply lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared more than 25 percent.

Read more: http://www.cnbc.com/id/44088463

[truthisfreedom]

1. Fear the fear.

[jwirr]

2. So it is EU problems and not crazy tbagging rethugs that caused

all this mess? I do not believe it. Might have had something to do with it but wasn't the only thing. After all the reason S&Ps gave for the downgrade was rethug obstructionism.

[KeyserSoze87]

3. CNBC, it's not solely because of Europe, you morons.

It's also due to the stupid Tea Party fascists trying to sabotage the economy because they hate having a black man as president.

[stockholmer]

4. you truly do not understand macro-economics, I suggest you take a crash course

[KeyserSoze87]

6. What's going on in Europe is bad, but it's not the one and only reason the stock market's tanking.

I mean seriously, the European debt crisis has been happening for months now, and yet the market wasn't crashing then. The markets didn't start crashing until AFTER this country was downgraded and the debt ceiling deal was passed.

[stockholmer]

9. of course it is not the only reason, but to play racial-hatred reductionism & give inordinate power

to a small, noxious Tea-Bagging group of Republicans (who are in a distinct minority in their own party) to effect a massive, 6000 years-in-the-making system of global financial control seems a bit curious (to say the least) to me. I am not arguing that the Tea Baggers are not a cancer, they are, but so is the entire schema of politics, as well as the overlords who control it.

The neo-Pharaohs' pockets can't be picked, they cannot be de-leveraged from their perch of power within the USA, as they control the Congress and POTUS, they dictate the regulations, the tax structures, and they will simply move completely off-shore if even a whiff of a somewhat sane tax policy touches upon their nostrils.

The game was over a long time ago, when the so-called progressive era of the early 20th century allowed the giant cartels and banks to trade the appearance of being 'trust-busted' in return for giving the government regulatory power to actually smash all their small and mid-size competition. Then they rammed through the odious , privately-held Federal Reserve to control monetary (aka debt issuance) policy. The next death-blow came in 1971 when Nixon pulled the US of the last semblance of the gold standard. Finally, the coup d' grace was delivered under the Clinton/Rubin/Greenspan troika, when you had the financial rape-kit unleashed to carve up the carcass via NAFTA, the repeal of Glass-Steagall, and the horrific Commodity Futures Modernization Act of 2000.

The Fed and ECB supply the bubbles to burst and further consolidate wealth, a bought and paid for Congress and other national assemblies provide false 'regulation', and the global systemic controllers (aka IMF, World Bank, the largest 15 or so private banks, and the overlord of it all, the BIS) rake up the collective tangible wealth of the planet. The citizens are thus reduced to chattel debt slaves, and the light darkens across the world.

---------------------

I posted this article a hour ago, it is a must read, and a small start to grasping the enormity of the problems that face us all on this mortal coil.

http://ampedstatus.org/exclusive-analysis-of-financial-terrorism-in-america-over-1-million-deaths-annually-62-million-people-with-zero-net-worth-as-the-economic-elite-make-off-with-46-trillion

[KeyserSoze87]

11. Very interesting article you posted!

BTW, you do have a good point on the teabaggers. It's just that I've never had a liking of CNBC. Many of their articles make my blood boil.

[stockholmer]

15. agreed on CNBC, they are truly the dregs when it comes to financial advice/analysis (Cramer anyone?)

cheers

[KeyserSoze87]

16. I don't think Cramer has ever been right about anything.

[jwirr]

12. Article looks interesting - saved so I could read it later. Thanks.

[banned from Kos]

13. says the resident goldbug "sound money" Tea Party fan

who thinks the Fed is a "private bank".

[stockholmer]

14. hej hej banned from Kos, nice to see you are in typical form today!

cheers!

:hi:

[banned from Kos]

17. three gems from your last post

"so-called progressive era of the early 20th century"

----Women voting is not progressive? The 16th Amendment and progressive taxation? A people's bank? The maturity of unions? Wow.



"The next death-blow came in 1971 when Nixon pulled the US of the last semblance of the gold standard."


----Spoken like a true Ron Paul fan. The "people" don't want a gold standard!



"Congress and other national assemblies provide false 'regulation'"


----You complain about the 90's relaxation in regulations but call the harsher regs of today "false"?



Come on! How is Max's plan to bankrupt Coca Cola and Morgan working out, by the way?

[stockholmer]

19. JPM- down over 5.5% today, Coke, well, I never believed that was a possibilty as they are too global

BoA (down almost 11%), Societe Generale (down almost 17%) and Citi (down 10.5%) are really gutted, eventually it will be JPM's and Goldman Sach's turns, then you shall see true martial law attempted.


And I guess my calling the tea baggers a 'cancer' means I am a true fan of them!

weeeeeeeeeeeeeeeeee

:crazy:

[banned from Kos]

20. You're an interesting bird. You take delight in bank failures -OK.

How is the National Bank of Greece possible failure good for Greece?

How is Ireland's vast banking problems good for Ireland?

How is SocGen's problems good for France?

Bank failures are a symptom - not the cause.

[tama]

21. It's about growth

supposing your question is sincere, let's first define growth in terms of real economy which is metabolism, in other words energy:

Growing amount of usable energy units per capita.

Financial economy, on the other hand, is all about more symbols of power (money) per "bankster" - bankster defined as a person who is not contributing to real economy of material metabolism, e.g. producing food but has parasitic relation to real economy and can participate in metabolism (eat etc.) only by creating, controlling and manipulating symbols of power called money that enable parasitic relation to real economy.

Now, as growth of real economy, energy per capita (globally), has been stagnated for decades and entered relatively recently downward slope, and it has been a zero sum game for a long time (at least since Reagan Thatcher neoliberalism) the only way bankster parasites can keep on growing the financial bubble economy to grow their parasitic share of real economy, is that the great majority of humankind (not to mention other forms of life) gets less of the cake

Therefore, the sooner the parasitic financial system collapses because of its inherent sustainability, the better we all will be. Yes, few banks collapsing here and there is just a symptom, symptom of the whole financial parasitic system collapsing. The cause is that a parasite that starves and kills the host that it feeds from dies itself. Cancer tumor does not survive outside the organism it lives from.

[banned from Kos]

24. A BANK is just a name for the function of storing money and dispersing credit

If banks A, C, G, and R fail others will just emerge to fill the market void.

Your hatred of banks will just turn to newer names.

[Hissyspit]

5. It's CNBC

They are always full of shit.

[KeyserSoze87]

7. Sorry, I accidentally replied to your post. I meant to reply to the original message.

[DeSwiss]

8. And it's very probably going to keep heading down.....

- Capitalism is CANCER.

[JAnthony]

10. The market is going down, there is no prospect of growth of the

economy, largely due to the hammer over our heads, the Grover Norquist hammer of no taxes, cut essential spending, more job losses, less stable local and state budgets, more cuts at the local level...

And THEN we get to the LESS CONSUMERS WITH JOBS/more consumers without jobs...a vicious spiral.

The market realizes that. What's going on in Europe is a bit more complex, even more or less intense, depending upon country, but somewhat generally mirrors the same economic trends, too!

[mikelewis]

18. Fuckin A baby.... lower gas prices loom!!!

I love it when the market tanks... It means I get to fill up my tank for $3 a gallon or maybe even less.

[JAnthony]

22. It's still $3.70 here where I live...where are you?

I should drive there and fill up.....or maybe not!

[stockholmer]

23. Apple just overtook ExxonMobil today, so for the 1st time they're largest market cap firm on planet

[Beacool]

25. Remind me, when were we supposed to have the "summer of recovery"?

So far, we've had what seems to be an eternal winter of discontent.

:(