Previous Thread
Next Thread
Print Thread
Page 1 of 3 1 2 3
Black Monday for global markets #263807
01/21/08 04:17 PM
01/21/08 04:17 PM
Joined: Nov 2002
Posts: 2,485
Short Offline OP
Short  Offline OP
Black Monday for global markets

Monday, January 21, 2008

A recovery plan by US President George W. Bush did little to prevent a worldwide plummet in global markets on Monday: Asian and European exchanges plummeted 4-7% while Wall Street closed for the day. "Every country in the world has been affected," says the IMF.

Fear of an American recession is causing global stock markets to plummet. In spite of the recovery plan outlined by American President George W. Bush, European exchanges experienced a “Black Monday”, in the wake of markets in Asia.

At close of trading, Tokyo finished 3.9% down, its lowest point since October 2005. Hong Kong was down 5.5% and Shanghai receded 5.14%. In Europe, Paris experienced its hardest fall in one session since Sep. 11, 2001 (down 6.83%), Frankfurt lost 7.16% and the London Stock Exchange dropped 5.48%.

What we are witnessing, says Stéphanie Antoine, economic specialist at FRANCE 24, is a real crisis of confidence. “It’s been going on since the start of the year. Every time the Dow Jones falls, it falls 2%, which is enormous. Wall Street is closed today, but the Dow Jones lost all its gains of 2007 last week.”

Last week, Wall Street slumped for four sessions back-to-back. The exchange lost 4.02% over the week, prompting the American president to intervene. On Friday, George W. Bush announced an economic recovery plan based on tax cuts, representing 1% of GDP or around 140 billion dollars.

But the US president did not manage to reassure investors, who deem an American recession as more and more likely.

The financial situation is “serious”, according to IMF director Dominique Strauss-Kahn. “All the countries of the developed world are suffering from the slowdown of growth in the United States.”

The worrying situation in the world’s financial markets is a consequence of growing pessimism among economists, says Stéphanie Antoine. “Even the most optimistic economists are starting to admit that they fear a US recession, and this pessimist camp is now in the majority.”

A point of view shared by Susan George, former vice-president of ATTAC (Citizen’s Coalition for Excise Taxes on Cross-Border Currency Transactions), who said on FRANCE 24’s Face Off programme: “I think it’s a real recession and I think it’s going to spread over the whole world.”

Following today’s pattern, stock markets in Sao Paolo and Buenos Aires opened respectively 6% and 4.64% lower.

Live and let live
Re: Black Monday for global markets [Re: Short] #263813
01/21/08 04:59 PM
01/21/08 04:59 PM
Joined: Sep 2002
Posts: 10,850
Beautiful San Marcos, Texas
Ernie B Offline
Ernie B  Offline
Yup ! And gold dropped $19.00 per ounce on the spot market.

Last edited by immissing; 01/21/08 05:00 PM.

Gun Control is Hitting Your Target.
Re: Black Monday for global markets [Re: Ernie B] #263815
01/21/08 05:19 PM
01/21/08 05:19 PM
Joined: May 2005
Posts: 3,955
Frigin Cold Columbus, Ohio
Otteralum Offline
Otteralum  Offline
Time to buy buy buy!

I will have a Belikin -- put it on klcman's tab.
Re: Black Monday for global markets [Re: Otteralum] #263819
01/21/08 06:04 PM
01/21/08 06:04 PM
Joined: Sep 2002
Posts: 10,850
Beautiful San Marcos, Texas
Ernie B Offline
Ernie B  Offline
Buy is correct !

Gun Control is Hitting Your Target.
Re: Black Monday for global markets [Re: Ernie B] #263844
01/21/08 09:13 PM
01/21/08 09:13 PM

Apparently some action or other mooted by GWB was described by him as "a shot in the arm" for the US economy. "A shot in the foot" might be more appropriate.

Re: Black Monday for global markets [Re: ] #263856
01/21/08 11:03 PM
01/21/08 11:03 PM
Joined: Sep 2002
Posts: 10,850
Beautiful San Marcos, Texas
Ernie B Offline
Ernie B  Offline
Stuff it Pedro 2, it wont work but so what. Im tired of all these pot shots at the U.S. The UK and Canada are no better off. Or China, India, or Japan. You dont want to go there with me.

Gun Control is Hitting Your Target.
Re: Black Monday for global markets [Re: Ernie B] #263858
01/21/08 11:37 PM
01/21/08 11:37 PM
Joined: Aug 2007
Posts: 297
San Diego, CA
Mikeywaz Offline
Mikeywaz  Offline
Bush's $800 tax "rebates" will solve all our problems.

Re: Black Monday for global markets [Re: ] #263866
01/22/08 03:07 AM
01/22/08 03:07 AM
Joined: Dec 2006
Posts: 993
Bill Mc Ghee Offline
Bill Mc Ghee  Offline
Just Remember Pedro2 if we go under, so will you and many other Nations.Immissing is right! If we go down, the vast majority of the world will follow. What do you think that will do to your business?
You Lot Pee and moan about our consumerism, How we have everything, how we are the users, how we throw our money around, how we " the Ugly American" ruin everything. If we stop ( because of a recession) you will experience a "depression" long before we do.
The world experienced it in the 30's and it was the U.S. who pulled it out of it.

Get use to it... we are a global economy, and what happens in the U.S. will affect the rest of the world.
Do you really think that the fall of Belize will cause a ripple in the economy of the U.S.? I can assure you a Fall in the U.S economy will devastate Belize.One thing you will notice immediatly is the fewer aircraft/Tourists arriving at BZE.
As a Business man surely you see the impact? You can deride our way of life all you want, but like it or not you are married to it and dependant upon it for your livlyhood.

We are a Nation of 300 plus Million who Buy, Buy, Buy and Fly, Fly, Fly and contribute to the world economy. And you depend on that.
Your snide comment of the " shot in the foot" does not sit well.
Do I like Bush? Hell no!!! But there are people in this country who know what to do to bring us back to a viable economy. Unlike your nation whos leader only see how much they can put in thier pockets from anything you develop. ( i.e. tourismn, Oil, land)

Your glass house has many shattered windows.

It is not important to me or all of the people in the U.S what you think of us. However,I will bet the farm that you will not turn down the dollars spent by the U.S. and its citizens. Not only in your business, but also in your country.

Like Immissing I'm getting a little tired of the criticsm, the inuenos, and the vitriolics.Where were you( Belize)and Pedro2 when Katrina hit?When the Northwest U.S was devestated by a volcano eruption?Did you put on a pair of gloves and start helping? or did you just sit back and take the next dollar that came your way? when your nation was impacted by the back to back hurricanes this past season did we (The U.S.) not come to your aide? Even tho we were still realing from our devistation!

Please keep your remarks to yourself.You do not serve you or your beautiful country well by voicing them without thought.

Never Use money to measure wealth
Re: Black Monday for global markets [Re: Bill Mc Ghee] #263880
01/22/08 09:33 AM
01/22/08 09:33 AM
Joined: Jan 2003
Posts: 7,479
SimonB Offline

SimonB  Offline

Re: Black Monday for global markets [Re: Bill Mc Ghee] #263886
01/22/08 09:59 AM
01/22/08 09:59 AM
Joined: Feb 2003
Posts: 2,429
dogmatic prevaricator Offline
dogmatic prevaricator  Offline
Damn, sounds like someone has overdosed on viagra and cheap beer.

If you must choose between two evils, pick the one you've never tried before.
Page 1 of 3 1 2 3

Portofino Resort- Now with a new BEACH BAR!!
Click for excellent scuba lessons with Elbert Greer!
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
Maruba Beach Klub and Spa is the premiere Secret Beach spa and restaurant located on the crystal blue waters of the Caribbean Sea at the center of Secret Beach, Belize
First Class Accommodations for the Budget Traveler
First Class Accommodations for the Budget Traveler

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater
San Pedro Fun Finder
Paradise Guy Event Calendar
Cayo Event Calendar

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Belize Happy Adventures
Conch Creative
Caribbean Culture & Lifestyle
More Blogs...
Search thousands of Belizean-only websites
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Click for Ian Anderson's Caves Branch, Welcome to a World of Adventure
Lil Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
ShoutChat Box
Who's Online Now
1 registered members (Marty), 328 guests, and 0 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Most Online2,982
Jan 29th, 2019 HELP! Visitor Center Goods & Services San Pedro Town Message Board Lodging Diving Fishing Things to Do History Maps Phonebook Belize Business Directory Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.7.1