Come to think of it, I just lost a mint condition Espada,

Oh I'm sure it matters. In a globalized economy we're all in the same boat.

And I want to know what you disagree with bull.

If you're able to buy 'Fortis' at 3,00: move !!! Bound to -at least - tripple.

I don't disagree with Bull. Whatever gave you that idea ? We're in deep **** as well over here Buddy Boy. Our gouvernement just had to inject 75 K Billion US $ into our major banks. Great huh?.

Feeling a lot better and relaxed now.
Anyone for Champagne??

I agree with tauren bull on gold idea....it should have gone up much more than it actually did today..and in general it should be trading much more higher these days..i think the whole world knows the government manipulated the gold price last month all the way down to $710...The production cost for gold is $750/ounce and gold spot was $710??You do the math.It does not excite me to see these big moves in one day because it is only bringing it up to a price level where it shouldnt even be in the first place considering all that has been going on in the financial sector all summer long.Sure gold went up $85 in one day a few days ago..but what do they do next..the bring it down in 3 installments of $25,$20,$40 evened out simply as an example.

As for the stock market when it falls more than 400 points in one day..what do they do next day?? They come out with some stupid idea and put it on press and also include with it this line"rumor is" haha so just based on that rumor news the market jumps up over 400 points the very next day...What a country.

For those that don't know...

Very basic details:

From my understanding... in the mid 90's the president of USA (Bill Clinton) signed a bill that allows and tells banks to give out more morgages, even when a lot of people really shouldn't own or can't afford a house. This created a housing boom; and a lot of toxic morgages... banks are going bankrupt, morgage companies are going under and sending people with houses onto the streets, killing retirement plans, and killing investments. I think 600,000 people went unemployeed this year in the USA.

Correct me if i'm wrong... I'm not even from USA.

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That was my general understanding aswell.. but i could be wrong. I believe we could have avoided this mess by outlawing Interest only mortgages and negative amortization mortgage's.

My understanding was that when they opened up the market to more home buyers (who really couldn't afford the homes they were trying to purchase), it created more demand. Prices rose with demand (artificial demand.. since they really couldn't afford those homes) and as it became apparent that many really couldn't afford the houses they had purchased the demand collapsed and the supply increased as homeowners foreclosed.

Everyone had been investing in mortgages to boost profits because it seemed like there was no end in sight to the high.. and all of these insituations are stuck w/ bad mortgages and no one will buy them for fear that they are all bad.


??

That pretty much sums it up. Also true from VWA2MKII.

The "Casino Society" called the United States is no longer a safe place to invest, as we jump from Dot Bombs right into speculative paper flipping of mortgages. All the while we gift intrinsic valuable resources like a sound manufacturing base to China who is building real wealth with it just as we used to. Wall street has indeed become a crap shoot where real earnings don't matter, false or anticipated earnings do. Try and make sound investment decisions based on that.

Far from being a 'Marxist' (believe me, I'm very familiar with his analysis) you have to observe one thing: this is capitalism at it's smallest.
Big banks making + 5 billion $ profits per year: hail the free market!! Champagne for the share holders!
When things go wrong: 'ahm, sorry to bother you, but could the gouvernment (read: YOU) please help us out with a couple of billions?'
If I would run my business that way, I would be bankrupt next year, and I would be laughed at, rightfully so.