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Headlines : GovernmentMarkets dive despite bailouts
The breaking news around the world is the failure on the markets in the face of the Bush’s $700bn financial bailout. Japan’s stocks dropped, driving the Topix index below 1,000 points for the first time since December 2003.
This is also on the heels of German officials giving guarantees to private deposits just hours before a 50 billion euro ($68 billion) bailout of troubled commercial property lender Hypo Real Estate aimed at avoiding broader damage to Europe’s largest economy.
The stock market in the U.S. will find itself in the same position over the next week. The famous Bush bailout will be known as the catalyst for the demise of Capitalism.
[Posted By drp2p]Republished from Al Jazeera English
Asian markets have plunged in the first session since the US congress approved a $700bn bailout package and after the German government moved to save the country’s second largest mortgage lender.
Japan’s Nikkei index dived more than three per cent to a four-year low and stocks all across the region followed suit in early trading on Monday.
The German government stepped in to rescue ailing mortgage lender Hypo Real Estate on Sunday after previously opposing a Europe-wide bailout similar to that adopted in the US.
Angela Merkel, the German chancellor, also made a U-turn and pledged that the country would also offer an unlimited guarantee for all private savings accounts.
Posted by drp2p
Currently a student at Arizona State University working of a History degree and another in film. The greatest enemy to humanity has been the philosophy of christianity and white hegemony that uses this philosophy to oppress. See this social sickness for what...
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Posted by anthony on Monday, October 6th 2008
Some part of this is comedy. Claiming capital loss in oil stocks. They made them rise to 200$/barrel in the first place. So the stealer calls in the cops because another stole the goods from him?
Oil stocks are back to where they should have remained in the first place. So they lost squat. The whole gimmick is par for the course and the commotion low budget comedy.
There are actors behind who may see a world wide recession as a stop gap measure. Politics are incapable of legislating nationwide green policies. So it’s need that may be the ultimate mother of invention.
Already an Alberta based clean coal technology lab is capable of 90% CO2 removal. Their next step is to licence this to China. They need it and we need them to get into take firm action on environment. Their coal is one of the dirtiest kind.
There is an occasion of being of service that could really bring in positive social changes while doing commerce and remaining focused on reason. Environmental concepts are basically socially progressive ones.
(syntax edit)
So it’s need that may be the ultimate mother of invention.
Did anyone doubt the maxim “necessity is the mother of invention”? The problem is we can’t act on situations until absolutely necessary. That is a weakness to be exploited. One day we’re going to wake up and realize that we can’t write the essay the day it’s due.
Hell, that day may have come and gone already.