Today in the economy

[Von Milash]

Dow down to it's lowest level since 1997. Brilliant.

[CGM]

Dow down to it's lowest level since 1997. Brilliant.

Well Von, if you subscribe to the Buy Low Sell High theory of investing, I suppose that makes this a pretty good time to get into the market.

[Gandalf]

It's beyond me how so called reputable large banks have managed to screw themselves up so bad. And with so much money being put into those intitutions by people who are just trying to bank their hard earned wages. A decade ago, you just wouldn't have worried about puting all your money in the bank. I look at the British banks now and I'm filled with horror. Surely people are being held accountable for gross misconduct somewhere? It's not really related to what Sheep said, but I was just thinking about it now.

And like Von Milash says, the financial markets are slumping and it doesn't seem like it's going to abate. About 2 years ago I seriously thought about trying to get higher returns on my money by putting it into stocks and shares. I'm so glad I didn't bother. It's at the lowest level for 12 years and it seems it will get worse before and sign of recovery.

And the exchange rates suck too. The U.S dollar generally holds at about 1100-1200 won against the dollar. It's spiralled up to 1500won and up against the dollar now. And it will probably get worse. I get very hungry here because the supermarkets SUCK. So I import a load of stuff from the UK twice a year. My next ordering time is due next month. However, my Korean credit card works by converting the pound into dollar and then into Korean won, so I'm likely to get hit with a crap exchange rate when I next order. It's either that or eat dog for the rest of the year.

So, my conclusion is that everything kind of sucks.

[CGM]

Miles you might well be right about things getting worse before they get better. That in and of itself doesn't make this a bad time to invest though. Right now things are rally low. They may get lower still, but the losses won't be nearly as big as in the last year I don't think. The problem is that it is very difficult to time the upswing. and it is also different to tell if an upswing is long term or just a blip. If you wait until it is proven to be a recovery, then by that time stocls will have climbed quite a bit, and you will miss out on some potential profits.

[Von Milash]

Dow down to it's lowest level since 1997. Brilliant.

Well Von, if you subscribe to the Buy Low Sell High theory of investing, I suppose that makes this a pretty good time to get into the market.

Two schools of thought: the markets are on sale, never been a better time to buy, etc. Conversely, those who are risk averse I'd tell wait it out a bit longer until things stabilize. Not even the blue chips are safe in this turnoil / new economy right now.

[killersheep]

Dow down to it's lowest level since 1997. Brilliant.

Well Von, if you subscribe to the Buy Low Sell High theory of investing, I suppose that makes this a pretty good time to get into the market.

Two schools of thought: the markets are on sale, never been a better time to buy, etc. Conversely, those who are risk averse I'd tell wait it out a bit longer until things stabilize. Not even the blue chips are safe in this turnoil / new economy right now.

Amazon is looking to be in a good position.

[killersheep]

Feb 26.

UK - Nationwide HPI

Actual -1.80% |Forecast-1.20% |Previous-1.30%

The Nationwide HPI is an economic indicator that measures both the quantity and price statistics regarding the sales of newly built and existing homes..

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USA - Core durable goods orders

Actual-2.50% |Forecast-2.10% |Previous-3.90%

Derivative of Durable Goods Orders that omits the Transportation components. Orders for aircraft occur in periodic burst and can severely distort the underlying trend, so Currency traders tend to focus more on this indicator than the overall Durable Goods Orders.

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USA - New homes sales

Actual- |Forecast325.00K |Previous331.00K

Determines the annualized amount of new residential buildings that were sold during the last month. A rising trend has a positive effect on the nation's currency as the housing market is a leading gauge for the overall economy. New housing activity creates an economic ripple effect as home owners buy goods such as appliances and furniture for their homes, and builders buy raw materials and hire more employees to meet demand. A high level of housing activity signals that the construction industry is healthy and that consumers have the capital to make large investments.

[Kirkland Laing]

More record-breaking data today. Record low housing sales, record high housing stock, recoed number of consecutive months that durable goods orders fell. Coming tonight some quote art, featuring a quote by The Infallible One.

[Kel]

I just found out yesterday that I'm facing redundancy, well it says 'at risk' which really only means unless something drastic happens I've lost my bloody job. It's gonna be a struggle to find more work and I will probably end up earning a shitty wage somewhere because I always need money coming in.

Like many others I'm in the shit