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Monday, August 11, 2014

Economic Stories of Relevance in Today's World -- August 10, 2014

Paul Craig Roberts - USA - August 10, 2014

1) Russian sanctions on the West.
2) Germans believe that way U.S. is acting (direction) is contrary to common sense and against German Interest.
3) Russians want to separate Europeans from acting as U.S. surrogates.
4) Sanctions will hurt certain sectors, but not the entire economy on either side.
5) ISIS (in Iraq) is about different religious sects. Strong men suppress the conflicts between the sects.
6) Removal of strong men encouraged Jihadists.
7) ISIS is a religious movement that demands strict adherence. No one can deal with it. Represents mental change.
8) ISIS movement will likely spread. Washington created the environment for this to happen.
9) Washington is reckless with force and does not use diplomacy.
10) U.S. companies are decapitalizing (Cash & Debt) to bolster stock prices. Companies are less public.
11) Dow Jones value is unrealistic. Trades are made by (according to) computer models, not the market.
12) Everything (financial) is going to blow at the same time. It will be something the government can't rig.
13) U.S. Government can't control the flight from the dollar.
14) 4% growth in the GDP isn't an honest number. No growth in incomes, credit, or consumption.
15) Inventory accumulation in the 2nd quarter will lead to a decline in the 3rd quarter.
16) Massive money & deficit creation. Keynesian demand management has had no effect in raising the economy.
17) Russia and China don't want war. Only the U.S. (Neo-con ideology) wants to control the World.
18) Neo-con ideology is threatening the world.

Black Monday 1987
(Wikipedia) Black Monday (1987) - In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).[1]

Financial News network - MarketWrap - October 19, 1987

Black Monday - Nightly Business Report - October 19, 1987

Lehman Brothers Collapses - September 15, 2008

(Wikipedia) - Bankruptcy of Lehman Brothers - Financial services firm Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. The filing remains the largest bankruptcy filing in U.S. history, with Lehman holding over $600 billion in assets.[1]

Pain Continues on Wall Street as Lehman Goes Bankrupt, and Merrill Sold to BofA
- ABC News - Scott Mayerowitz - September 15, 2008 - Wall Street had its worst day more than six years after hectic and historic weekend brought the quick demise of two of America's oldest and best-known investment banks.                         Stocks dropped dramatically -- with the Dow closing down 504.48 points -- after 158-year-old brokerage firm Lehman Brothers filed for bankruptcy this morning and the other Wall Street stalwart, Merrill Lynch, was sold to Bank of America for $50 billion.

Flash Crash - Fox Business - May 6, 2010
(Wikipedia) - Flash Crash May 6, 2010 - The May 6, 2010 Flash Crash[1] also known as The Crash of 2:45, the 2010 Flash Crash, or simply the Flash Crash, was a United States stock market crash on Thursday May 6, 2010 in which the Dow Jones Industrial Average plunged about 1000 points (about 9%) only to recover those losses within minutes.[2] It was the second largest point swing, 1,010.14 points, and the biggest one-day point decline, 998.5 points, on an intraday basis in Dow Jones Industrial Average history.[3][4][5]

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